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Indian industries urge RBI to consider moderating pace of rate hikes

In order to reduce the multi-year high inflation, the RBI has increased the policy repo rate by 190 basis points since May of the ongoing fiscal year

Cut I-T, review capital gains tax in Budget 2023-24: CII to govt

FM Nirmala Sitharaman's pre-Budget consultations from today

Regulations not a remedy for fraud: Sebi whole time member SK Mohanty

According to a survey, 47 per cent respondents considered lack of visibility over third parties as the biggest concern to bribery and corruption

BEML's demerged non-core businesses entity's listing in one month

The BEML's demerged non-core businesses entity, BEM Land Assets Ltd, is expected to be listed in the next one month, a step toward divestment of the engineering major. The government seeks strategic divestment of 26 per cent post BEML demerger process of non-core assets. "Listing of demerged land company will be in a month's time. The valuation process is on. After listing, disinvestment process will be started," BEML chairman and managing director Amit Banerjee said. He was speaking on the sidelines of CII-organized Global Mining Summit 2022. He told PTI that the main assets of the demerged entity will be some total 550 acre of prime land in Bangalore and Mysore. The existing BEML shareholders have been given shares in the new demerged entity in a 1:1 ratio. State-owned BEML was focusing on defence and the metro railway business. Banerjee also mentioned that BEML, which currently has a 90 per cent localisation rate for defense trucks, in light of the government's outlook on mak

India Media & Entertainment valued between $27-29 bn in 2022: Report

The India Media & Entertainment industry is estimated to be valued between USD 2729 billion in 2022 and is poised to grow to USD 5565 billion by 2030, said a report. The industry, which had witnessed some setbacks during the pandemic, is back to its pre-Covid growth story, said a joint report by the industry body CII and BCG. "With the industry witnessing strong growth tailwinds, it is poised to grow to USD 5565 billion by 2030 with a potential to reach USD 6570 billion, driven by growth in OTT and gaming," said the report titled "Shaping the future Of Indian M&E". The report highlights the role of some media segments, particularly OTT platforms and said the sector has witnessed rapid changes fueled by "accelerated technological progress and evolving consumer behaviours". According to the report, the digital video & gaming segment is leading the "boom" with an over 40 per cent of total media consumption in 2022 backed by growth in internet and smartphone penetration. Now ..

India' health sector got $1.5-billion investment so far this year

Investment activity in the health care space has not slowed down due to the Covid-19 pandemic

CII urges govt to consider lowering freight, power costs for exporters

Industry body CII on Thursday suggested the government a number of measures, including lowering freight and power costs for exporters and setting up a shipping regulator, to promote outbound shipments. CII National Committee on EXIM Chairman and Patton Group's MD Sanjay Budhia also asked for fast-tracking establishment of an export promotion body. There is also a need to do an internal export promotion and marketing exercise to get more businesses on the export markets, he said at the CII's national exports summit here. "Can we consider lower freight and power costs for exporters? It is not required to have subsidies but calibrated rates so that exporters are not cross subsidising other consumers. In this regard, including electricity costs under GST could be a way out to lower tax incidence," Budhia said. He added that the government can consider a carve-out under the national logistics policy for investments in trade-related infrastructure. States should be encouraged to work on

India may attract $475 bn in FDI over next five years: CII-EY survey

The study says 71% of MNCs see the country as a key destination for their global expansion

Land deals worth $1.1 bn closed in Jan-Jun across top 8 cities: CII-CBRE

About 700 acres of land have been acquired for over USD 1.1 billion during January-June across eight cities to develop housing, office, retail, logistics and data centre projects, according to a CII-CBRE report. Industry body CII and property consultant CBRE India on Wednesday released the report Indian Realty Outlook - Demystifying Future growth opportunities at a real estate conference here. "We are quite optimistic about the real estate sector. But we need to be cautious considering global factors," said Anshuman Magazine, Chairman & CEO, India, South-East Asia, Middle East & Africa, CBRE. He said all segments of real estate in the 2022 calendar year will perform better than last year, because of higher demand for apartments as well as commercial, data centre and warehousing spaces. However, Magazine said there is a need for caution in view of rising interest rates, higher commodity prices and possible recession in US and European economies. He also pointed out that land ...

A flooded Bengaluru reminds us of Indian cities' lack of preparation

The money spent by the cities for flood is often far less than needed and since the buy-in from the public is weak, the effectiveness of the projects is shallow

India in better position to tackle growth, inflation challenges: CII Prez

India is in a much better position to deal with the challenges related to growth and inflation, said Sanjiv Bajaj, President of industry body CII. According to official figures, India's retail inflation continues to remain above the Reserve Bank's tolerance level of 6 per cent since January, while the economic growth in the first quarter of the fiscal was 13.5 per cent, lower than the central bank's estimate of 16.2 per cent. "I don't want to say we don't have our own challenges with growth, with inflation but we are in a much better position and credit must go to everybody including the central and state governments. I don't see economic growth as an issue," Bajaj, who is also the CMD of Bajaj Finserv, told PTI. Tata Steel Managing Director and CII's former President T V Narendran also spoke to PTI and appreciated the efforts undertaken by states to attract investments. "There are complexities to solve but ... I feel the environment is encouraging investments, encouraging growth,

CII to hold infra-focused summit for East and NE states from Sept 12-13

A connectivity infrastructure-focused East India Summit will take place in Kolkata involving states of eastern and northeastern states to deliberate on critical aspects of regional prospects for investment. CII, the organiser of the summit, said it will be held on September 12 and 13. It will aim toward creating a sustainable infrastructure roadmap for the east - linking global investments, ports & multimodal, logistics & warehousing, railways, satellite cities, maritime manufacturing, urban infrastructure and infrastructure investment & finance, CII said in a statement. India has emerged as one of the fastest-growing economies in the world and is expected to be one of the top three economic powers globally over the next 10-15 years. The government, through the National Infrastructure Pipeline (NIP), is creating new infrastructure and upgrading existing ones to achieve a USD 5 trillion economy by 2025, the statement said. "To achieve this target, the country needs to spend

India poised to become next global SaaS capital, says EY-CII study

According to a study by EY and CII titled "India: The next global SaaS capital", India is poised to become the next SaaS capital over the next few years

CII asks govt to bring in millennial bonds to boost forex reserves

Sanjiv Bajaj asked the govern­ment to put more money in the pockets of the consumers by redu­cing personal income tax rates to revive consumption demand in the economy

CII urges Centre to reduce personal income tax to spur economic activities

The Confederation of Indian Industry president Sanjiv Bajaj on Wednesday asked the Central government to contemplate reducing the personal income tax rates to spur economic activities. The business tycoon also said the country's underlying growth drivers are strong and the economy would grow in the range of 7.4 per cent to 8.2 per cent in the next fiscal. "Putting more money in the pockets of the consumers is of vital importance to revive consumption demand in the economy. The government should contemplate a reduction in the rates of personal income tax in its next push for reform as this would increase disposable incomes and revive the demand cycle," Bajaj, who is chief managing director of Bajaj Finserv, said in a press conference. He was speaking to reporters as part of the CII's theme 2022-23 "Beyond India @75: Growth competitiveness, sustainability and internationalisation". The CII is also organising 'Sankalp Se Siddhi' in the city, in which Union Home Minister Amit Shah wil

Time is ripe for India to explore trade deal with AfCFTA: Commerce Secy

AfCFTA brings together the 55 countries of the African Union and eight regional economic communities to create a single market for the continent

Gambian VP arrives in India, set to participate in CII-EXIM Bank Conclave

Vice President of Gambia Badara A. Joof arrived in India on a five-day visit where he is set to participate in the Confederation of Indian Industry and EXIM Bank of India (CII-EXIM) Bank Conclave 2022 along with other bilateral engagements.In a tweet, the Ministry of External Affairs wrote, "Strengthening the partnership. Greetings to Vice President of The Gambia on his arrival in India. He is on a 5-day visit to India and will participate in CII-EXIM Bank Conclave 2022, besides having other bilateral engagements."Meanwhile, the Namibian Deputy Prime Minister and Foreign Minister Netumbo Nandi-Ndaitwah arrived in the national capital on Sunday for the CII-EXIM Bank Conclave."Warm welcome to DPM & FM Netumbo Nandi-Ndaitwah of Namibia in India. Her participation in CII-EXIM Bank Conclave and extensive engagements over the next few days will further deepen our relations with Namibia in all spheres," External Affairs Ministry spokesperson Arindam Bagchi had said in a tweet.The event

Sanjiv Puri elected CII VP for FY23, R Dinesh as President Designate

ITC chairman and managing director Sanjiv Puri has been elected the Vice President of CII for 2022-23, while TVS Supply Chain Solutions Executive R Dinesh has become the new President De

S Africa keen to engage with India Business Forum for bilateral cooperation

South Africa is more than ready to engage with the CII India Business Forum (IBF) and relevant local ministries to further extend the bilateral cooperation, a senior minister said on Sunday

Sanjiv Bajaj on financial sector reforms and growth estimates

In a chat with Business Standard's Nikunj Ohri and Arup Roychoudhury, the new CII president and Bajaj Finserv chairman Sanjiv Bajaj shared how to deal with global headwinds and increased input costs