LVMH South, Southeast Asia and Middle East Chairman and L Capital Asia Managing Partner Ravi Thakran discusses luxury goods in Asia and what's driving growth. He speaks with Bloomberg's Rishaad Salamat on "Trending Business."

'India is far behind in the luxury industry'

A US court has given its final approval for the proposed settlement of class action lawsuits against Infosys McCamish, according to a BSE filing by Infosys on Saturday.
Under the proposed terms, Infosys McCamish Systems had agreed to pay USD 17.5 million into a fund to settle all the pending class action lawsuits related to a cybersecurity incident in 2023, which identified the Infosys subsidiary as the main source.
If the settlement is not appealed within 30 days, "it will become effective and resolve all allegations made in the class action lawsuits without admission of any liability", Infosys said.
In February 2024, Bank of America named Infosys McCamish Systems as the source of a data breach that it said affected 57,028 customers.
As per the notification, the breach occurred on October 29, 2023, and was discovered on October 30 that year.
The Bengaluru-headquartered IT major said the proposed agreement would settle all the pending class action lawsuits and resolve all allegati

In February 2024, Bank of America named Infosys McCamish Systems as the source of a data breach that it said affected 57,028 customers

Press Trust of India

UltraTech Cement on Saturday said it has received a GST demand notice for a total payment of Rs 782.2 crore, which it plans to contest before the appropriate forum.
"The Company is reviewing the Order, considering all legal options, and accordingly would be contesting the demand," UltraTech Cement said in a regulatory filing.
The order has been passed in various matters on account of "alleged short payment of GST, improper utilisation of Input Tax Credit, etc" during the period 2018-19 to 2022-23, the company said.
The order is passed "without due consideration of the Company's submissions."
The order passed against it is "upholding tax liability of Rs 3,90,95,58,194/- plus applicable interest on tax demand; additional interest Rs 27,68,289/- and penalty of Rs 3,90,95,58,194/", the filing said.
The Aditya Birla flagship firm has received the order passed by the Joint Commissioner, Central Goods and Services Tax & Central Excise, Patna, on Friday.
UltraTech is the country's leadin

UltraTech Cement on Saturday said it has received a GST demand notice for a total payment of Rs 782.2 crore, which it plans to contest before the appropriate forum.

Billionaire Mukesh Ambani on Saturday said India must become a world leader in artificial intelligence, but stressed the need for greater empathy in adopting new-age tech.
The Chairman and Managing Director of Reliance Industries said the largest Indian corporate is at the "doorstep" of solving India's energy challenge with solar energy and storage solutions.
Speaking at an event here on the occasion of the International Human Solidarity Day, Ambani said RIL's telecom arm Jio has catapulted India into the digital mainstream of the world by laying the foundation with its services.
"... of course we need AI. We (India) must become world leaders in AI. But above all, we need empathy and compassion even more," Ambani said.
"By combining intelligence with empathy, prosperity with purpose, India can present a new model of development to the rest of the world," the richest Indian said.
He said there were many "disbelievers" about the telecom business even within RIL.
In an apparent refe

The Chairman and Managing Director of Reliance Industries said the largest Indian corporate is at the "doorstep" of solving India's energy challenge with solar energy and storage solutions

Artificial intelligence is a force multiplier in the education sector but unethical use of AI tools for cheating, data and privacy breach is a matter of concern, according to educationist Shishir Jaipuria.
Jaipuria, Chairman of the Seth Anandram Jaipuria Group of Educational Institutions, said the purpose of education is to nurture knowledgeable, skilled, conscientious and emotionally strong individuals who go on to make a positive impact on society, but the rat race defeats it and pushes students to take extreme steps.
The advent and prevalence of artificial intelligence has been a watershed moment in the history of human progress. AI is not just transforming industries, but also reshaping the jobs of the future. Its integration and application in the education sector will have far-reaching implications," Jaipuria told PTI.
AI platforms allow schools to map each child's learning style, identify the learning gaps, and recognise the strengths and weaknesses to optimise learning ...

The educationist also highlighted that teacher training and professional development have to be directed towards creating digital competencies to enable educators to leverage the full potential of AI

The Punjab government has also constituted a 5-member Cabinet Sub-Committee, led by Finance Minister Harpal Singh Cheema, to monitor the war on drugs

Dense fog and severe cold wave conditions disrupted normal life across several northern states, with Uttar Pradesh under red alert and Delhi witnessing flight cancellations amid low visibility

Business Standard

The Union Budget has been presented on February 1 since 2017, and 2026 will be the first occasion since then that it falls on a Sunday

ICEGATE enables e-filing and customs payments by traders; RMS automates risk-based scrutiny; and ICES handles backend assessment and clearance workflows at Customs locations

Russia-Ukraine War

The year 2022 is coming to an end and a lot has happened that shaped the world in the year. Let's have a look at some of these significant events

Google Messages

In January, Google rolled out end-to-end encryption in group chats for messages app users enrolled in the beta programme

Blend launches Blend Studio: AI tool for ecommerce photography

New Delhi [India], March 16 (ANI/PNN): Blend, an AI-powered design and photography application for DTC brands and ecommerce sellers, recently launched Blend Studio - the Chat GPT for product photos.

Celebrity and Travel Photographer Rahul Lokare from Flamingo Productions creates waves of change in the world of photography.

Xiaomi 13 Pro

Priced at Rs 79,999 for the 12GB RAM and 256GB on-board storage, the Xiaomi 13 Pro offers a novel imaging experience on top of a premium package

'India is far behind in the luxury industry'

LVMH South, Southeast Asia and Middle East Chairman and L Capital Asia Managing Partner Ravi Thakran discusses luxury goods in Asia and what's driving growth. He speaks with Bloomberg's Rishaad Salamat on "Trending Business."

Other Videos

Explore News