Page 48 - Industry News

Auto sector seeks relief on Rs 2,500 cr cess credit lapse under GST 2.0

Auto industry representatives are understood to have taken up with the government the issue of Rs 2,500 crore compensation cess credits arising out of GST 2.0 regime in their pre-Budget meeting, according to sources. Representatives from the auto industry, including Society of Indian Automobile Manufacturers (SIAM), in their meeting with Finance Minister Nirmala Sitharaman and senior officials held on Tuesday, raised the matter and sought a resolution of the matter citing genuine concerns of dealers, which are mostly small and medium enterprises, a person aware of the development said. The accumulated compensation cess lapsed on September 22 with new GST norms coming into effect. In October this year, the Federation of Automobile Dealers Associations (FADA) moved the Supreme Court seeking relief over Rs 2,500 crore worth of compensation cess credits. FADA had then asserted that its knocking at the doors of the Supreme Court was "not against reform, but for fairness and trust" as ..

Samriddhi 2025: UP's sustained support reflects in high industrial growth

Meshram who heads the animal husbandry department said when it comes to livestock and development of small enterprises in rural parts of the state, Uttar Pradesh is leading a new surge

NBFCs push for refinancing, tax reliefs at pre-Budget meeting with FM

NBFCs and FIDC urged the Finance Minister to create a refinancing window, widen SARFAESI provisions and ease tax deductions during pre-Budget consultations for 2026-27

No difference among ICEMA members on emission norms, says JCB India chief

ICEMA has itself approached the government to impose emission norms on non-wheeled construction machines, JCB India chief Deepak Shetty said, adding the sector remains unified on stricter standards

IBBI asks resolution professionals to file detailed 29A notes before CoC

IBBI has asked resolution professionals to place detailed Section 29A compliance notes before CoCs, stressing due diligence and transparency to reduce legal challenges in insolvency cases

Govt invites applications for quality audit as Coal Exchange takes shape

Coal ministry has issued an RFQ to empanel third-party agencies for sampling and quality audits for coal and lignite traded on the upcoming Coal Exchange, marking a key regulatory step in the rollout

Must target biotech sovereignty by 2047: Biocon's Kiran Mazumdar-Shaw

Kiran Mazumdar-Shaw urges India to achieve 'biotech sovereignty' by 2047, driven by a $330 bn bioeconomy, BioE3 framework, scale exports, a sovereign AI stack, and crucial R&D investment

Govt rescinds QCO on viscose staple fibre to ease raw material access

Economic Secretary Anuradha Thakur urges the Indian financial sector to embrace disintermediation but ensure credit reaches MSMEs for equitable, sustained 8% GDP growth

NPPA extends knee implant price ceiling by one year till November 2026

The NPPA has extended the knee implant price cap despite industry requests to remove or relax it, citing rising costs and innovation needs, as the regulator prioritises affordability for patients

MCA finalises cabinet note on Companies Amendment Bill, eyes winter session

MCA finalises cabinet note; Bill to streamline rules, permit multi-disciplinary firms and widen NFRA's powers

Promoter sell-downs cross the 1% mark at more companies, shows data

Trend strengthens for second straight quarter

India's medtech sector sets sights on tripling UK exports by 2030

A 7-member AIMED delegation explored regulatory alignment, market access and technology-sharing opportunities in the UK as India targets a sharp rise in medical device exports by 2030

India's sugar output rises 48% as more mills begin crushing: Industry body

India's sugar consumption is estimated at around 29 million tons, which could allow New Delhi to export 2 million to 2.5 million tons of sugar in the new season, the NFCSF said

South Eastern Coalfields launches Coal India's first paste filling project

This marks a significant step towards safe, eco-friendly underground mining practices. SECL has coal mines in Chhattisgarh and Madhya Pradesh

Finance Ministry's Chintan Shivir discusses use of AI in govt processes

At a two-day Chintan Shivir in Rajasthan, the finance ministry discussed AI adoption in government processes

Changing landscape: India's subpar, ageing malls set for overhaul

Developers converting older malls to mixed-use integrated districts, buoyed by investor interest

Moving India: So near yet so far for Gujarat's transport infrastructure

The fourth of a six-part series examines why daily commute in Ahmedabad, Gandhinagar, and GIFT City remains a challenge despite better bus and metro services, and new infrastructure

Ecom logistics sector seeks clarity on GST rules for delivery, GTA services

MSME-focused e-commerce platforms have warned that ambiguity over GST treatment of local delivery and GTA services is creating compliance risks, potential double taxation, and operational disruptions

DHL group to invest €1 billion across India units over five years

DHL Group plans to deploy EUR 1 billion in India over CY26-30, expanding warehouses, logistics hubs, automation, & green infrastructure as the country's fast-growing market boosts long-term confidence

Waiting for a reboot: Bengaluru's transport woes and the path to solutions

The third of a six-part series looks at Bengaluru's transport challenges and the way forward to resolve some of them