Page 6 - India Inc

'India Inc can cut paperwork to raise overseas funds with good FATF rating'

The good FATF rating obtained by India will enable domestic companies to access overseas investments without going through elaborate background checks and enhanced due diligence process, highly placed sources said. The global crime watchdog, FATF on Friday adopted mutual evaluation report on India and placed the country in "regular follow-up" category. The Financial Action Task Force (FATF) hailed India for achieving high level of technical compliance. It said the country's efforts towards anti-money laundering (AML) and countering of terror financing (CFT) are achieving good results. Sources said good rating by FATF means that the financial system and AML/CFT framework is robust. "Indian companies accessing investments abroad will not be required to go through elaborate background checks and enhanced due diligence measures applicable to jurisdictions not placed in regular follow-up," a highly placed source said. FATF places member countries in any of the four categories - regular

The four pitfalls

Avoiding policy flaws more important than fulfilling India Inc's Budget wish list

21-day challenges, desk yoga: India Inc stretches to meet Yoga Day goals

The electric utility and electricity generation company is holding weeklong virtual yoga sessions culminating in an onsite yoga event on June 21

Increase capex, simplify taxes, bring more PLI schemes: India Inc to FM

Sanjiv Puri, president of the Confederation of Indian Industry (CII), suggested that the capex spending should be increased by 25% over the revised estimate of 2023-24

Elon Musk's $56 billion pay package more than Tata Motors' annual revenue

Elon Musk's pay packaged vs Indian firm revenues: Elon Musk's annual salary is more than Tata Motors' revenue but less than Reliance Industries

US Senators and corporate world bat for stronger India-US relationship

Two influential American Senators along with leaders from the corporate world have called for strengthening ties with India, including in the defence sector. We want India and the United States to be the very best of friends with the deepest relationships, Senator Steve Daines said on Monday. He was speaking at a fireside between John Chambers and Senator Dan Sullivan during the annual Leadership Summit of the US India Strategic and Partnership Forum (USISPF). I think globally it's so important here that we have clarity around who the good guys are and how we want to perpetuate these relationships and strengthen relationships. And the good guys are the United States and India, the Senator from Montana said. China is watching what we are doing with India, Daines said. Senator Dan Sullivan said a lot of these countries are motivated by historical grievances. "I think this... new era, it's really a return to the era of authoritarian aggression, is going to be with us for years and ..

India Inc seeking Rs 5 trillion credit to fund capex: SBI Chairman Khara

State Bank of India Chairman Dinesh Kumar Khara has said there is a growing demand for credit from the corporate sector and loans worth Rs 5 lakh crore are in the pipeline. Unlike the past few years, when the corporates had sufficient cash surplus on their balance sheet, they have started looking for credit to fund working capital requirements and capacity expansion, he told PTI in an interview. "Now we have come to a stage where they (corporates) have started approaching banks for augmenting their capacity or for working capital purposes. Of course, this I can say with confidence because when we look at our unavailed term loan percentage, it has come down from 25 per cent to 18 per cent and when we see the working capital utilisation, even that has improved," he said. So, all these are confirming that private sector opportunities are going to be there and SBI will be in a position to create value for the sector, he said. At the same time, he said, "When we look at our pipeline for

India Inc's profit-to-GDP ratio soars to 15-year-high in FY24, shows data

Financials, energy and automobile companies account for most growth in incremental profits

Modi govt 3.0 can usher in reforms towards Viksit Bharat: India Inc

With Prime Minister Narendra Modi taking oath for the third time, India Inc on Monday expressed optimism that the new government under his leadership can usher in the next phase of reforms to achieve the goal of Viksit Bharat. Several corporate leaders posted congratulatory messages on X, formerly Twitter, after Modi was sworn in as Prime Minister at the Rashtrapati Bhavan on Sunday, becoming only the second PM after Jawaharlal Nehru to secure a third consecutive term. Vedanta Group Chairman Anil Agarwal tweeted, "Congratulations to @narendramodi ji on being elected Prime Minister of India for the third consecutive time. Bharat has crossed many milestones under your visionary leadership. We are confident that the country will continue on its remarkable growth trajectory!". In a post on X, JSW Group CMD Sajjan Jindal said: "Congratulations @narendramodi ji on assuming office as Prime Minister for the third time, a feat last achieved by Nehru ji. With new cabinet, I am optimistic abou

RBI likely to reduce key repo rate when inflation stabilises: India Inc

India Inc welcomed the Reserve Bank's move to raise the growth outlook for FY25 and stated that it expects the Reserve Bank to reduce the key repo rate when inflation stabilises within its target band. The Reserve Bank, which has been mandated to ensure inflation remains at 4 per cent (with a margin of 2 per cent on either side), mainly factors in CPI while arriving at its monetary policy. It left the key interest rate unchanged as widely expected, keeping the focus on inflation amid robust economic growth that is likely to provide the new Modi government headroom for manoeuvring reforms. The central bank also retained its projection for retail inflation at 4.5 per cent for the current fiscal assuming a normal monsoon, while emphasising that uncertainties related to food price outlook warrant a close monitoring. Consumer Price Index (CPI)-based retail inflation has been projected at 4.5 per cent with quarter-wise projections at 4.9 per cent in Q1 (April-June), 3.8 per cent in Q2, 4

India Inc plans fundraising via QIPs as Lok Sabha election nears end

Optimism around poll outcome, capex seen, attractive valuations seen as triggers

For India Inc POSH complaints have grown faster than their resolution

Even before the POSH Act came into effect, a few companies were reporting the number of complaints of sexual harassment they had received through the year

India Inc revenue rose in Q4, but profit grew at slowest pace in 6 quarters

BFSI, auto firms key drivers of net sales, profit in Q4

India Inc including NBFCs files ECB intent worth $7.73 billion in March

Amongst prominent companies which filed intent include private steel producer JSW Steel - $ 900 million, public sector power sector unit NTPC - $ 745.2 million and Power Finance Corporation - $ 450 mn

India Inc 'surprised' at PM Modi's Adani-Ambani jibe at Rahul Gandhi

Stock market participants say the PM was just pointing to a conspicuous silence regarding big businesses on the part of Opposition parties

India Inc's revenue growth weakest since September 2021: CRISIL report

India Inc is likely to log 4-6 per cent revenue growth in the January-March quarter of 2023-24, marking the slowest quarterly growth since recovery from the Covid-19 pandemic which began in September 2021, said a Crisil report. The report is based on an analysis of 350 companies which exclude financial services and oil and gas sectors firms. The moderation follows stronger growth in previous years, the report said, adding "among the 47 sectors monitored by CRISIL, only 12 are expected to have clocked an improvement in revenue growth both sequentially and on-year for the quarter." Consumer discretionary products and services are expected to have led the show in the January-March quarter. Among discretionary products, the automobiles sector was steered by healthy growth in passenger vehicles on the back of higher volumes and price hikes in the past year. The organised retail sector, the report said, grew for the thirteenth quarter in a row, on healthy urban demand. Discretionary .

India, China discuss full disengagement, resolving issues along LAC

The 29th meeting of the Working Mechanism for Consultation and Coordination on India-China Border Affairs has been held and the two sides had an in-depth exchange of views on how to achieve "complete disengagement" and resolve the remaining issues along the LAC, the MEA said on Thursday. The key meeting was held in Beijing on March 27, it said in a statement. "The two sides had an in-depth exchange of views on how to achieve complete disengagement and resolve the remaining issues along the Line of Actual Control (LAC) in the Western Sector of India-China border areas," the Ministry of External Affairs (MEA) said. Joint Secretary (East Asia) from the MEA led the Indian delegation. The Chinese delegation was led by Director General of the Boundary and Oceanic Department of the Chinese Ministry of Foreign Affairs, the statement said. "In the interim, both sides agreed to maintain regular contact through diplomatic and military channels and on the need to uphold peace and tranquility o

Number of board seats held by women in India Inc grew in last 5 yrs: Report

The number of board seats held by women across India Inc has increased gradually over the past five years with them holding 18.3 per cent board seats in 2023, a Deloitte report said on Friday. The 'Women in the boardroom: A global perspective' report, however, said that it is lower than the global average of 23.3 per cent. The report by Deloitte Global Boardroom Program analysed more than 18,000 companies in 50 countries exploring representation of women in the boardroom. This includes analysis of 400 companies from India. "Boardroom diversity requires a paradigm shift. Since many companies prefer to recruit board members with CEO or CFO experience, these numbers do not paint an optimistic outlook for pipeline development. India Inc. must break from historical patterns and prioritise capabilities over past roles," Deloitte South Asia Chairperson Shefali Goradia said. The report shows a gradual increase in the number of board seats held by women across India Inc, with women holding

India Inc likely to see an average salary hike of 9.6% in 2024: EY report

The highest salary hikes are expected to be seen in e-commerce (10.9%), financial services (10.1%), and professional services and real estate (10% each)

India Inc likely to see an average salary hike of 9.6% in 2024: EY report

The highest salary hikes are expected to be seen in e-commerce (10.9%), financial services (10.1%), and professional services and real estate (10% each)