Page 49 - Industry News

BASAI seeks govt clarification on GST rates for biostimulants products

The Biological Agri Solutions Association of India (BASAI) on Monday said it has sought clarification from the government over GST applicable on biostimulants. Biostimulants, which aid plant growth, have been regulated under the Fertiliser (Control) Order (FCO) 1985 since 2021. As of August, the government has officially notified and fully approved 146 biostimulant products under the FCO. Addressing a media conference, BASAI President and Chairperson Sandeepa Kanitkar said biostimulants are the need of the hour amid climate change challenges. "The tool box of the farmer now has to be changed. If it is not changed, then we will end up having the same kind of productivity," Kanitkar said. Listing out challenges in the sector, BASAI CEO Vipin Saini said there is confusion over GST for biostimulants. "At some places, biostimulants are classified under 5 per cent GST category and in some places under 18 per cent. I believe it should be under 5 per cent category." There is misinterpreta

AMD open to acquisition of firms in India as part of expansion plan

AMD has been a key global player in powering personal computers working on artificial intelligence

ITC to continue Nepal investment plans in FMCG and hotels: Sanjiv Puri

ITC Chairman Sanjiv Puri said recent turmoil in Nepal will not affect the company's plans in FMCG and hospitality, with Surya Nepal and new hotels continuing expansion

India to play key role in EY's push for proprietary AI language models

EY will leverage its global delivery unit in India, home to most of its tech staff, to lead development of proprietary language models for tax, audit and accounting services

Evera Cabs offers to lease 1,000 BluSmart cars financed by PFC, IREDA

Evera Cabs has submitted a proposal to lease 1,000 BluSmart EVs financed by PFC and IREDA as part of its expansion strategy while lenders explore recovery from the defunct service

Banks' era of infrastructure funding is over: Nabfid chairman K V Kamath

NaBFID Chairman KV Kamath says banks can no longer be primary infra financiers due to structural limits, with markets and DFIs better placed to meet India's long-term needs

Qualcomm looks to bring smart glasses into everyday view with India push

Priced near regular eyewear, market set to grow 400% in CY 2025

BNP Paribas leases 1.45 lakh sq ft office space in Thane for ₹95 lakh

BNP Paribas has leased 1.45 lakh sq ft at Hiranandani Centaurus in Thane West for Rs 94.95 lakh monthly rent as BFSI sector demand drives office leasing growth in India

Govt may rebid 40 GW renewable projects stuck due to lack of purchase deals

The government is expected to go for rebidding of around 40 GW of renewable energy projects that have been stalled in the absence of power purchase agreements (PPAs), official sources said on Wednesday. These 40 gigawatt (GW) includes both solar and wind capacity projects, one of the sources said. "Marketing efforts are on. If it does not get any success then "we will see at some point we will close it", sources told PTI. At present the winners of these tenders are engaged with distribution companies (discoms) because they are the potential buyers, they said, adding that no one is going to face any loss as no investment has happened yet in these projects. It is only the price discovery which has happened. Tariff rate of solar projects ranges from Rs 2.38 to Rs 2.56 per unit, while for that of vanilla wind between Rs 3.70 per unit and Rs 3.90 per unit, they said. Meanwhile, industry body FICCI said in a statement that the CERC (Central Electricity Regulatory Commission) will releas

Bank OTS scheme not a borrower's right without upfront payment: SC

Apex court rules SBI justified in rejecting OTS plea for non-compliance with 5% deposit condition

DoT pushes deadline for mandatory testing of broadband gears until Dec 31

Industry body has alleged that the mandatory testing has been deferred again amid reluctance by foreign vendors to go for security testing but NCCS has denied the charges

Polycab India flips a switch, powers ahead of Havells in decade-long race

Becomes leader in consumer electrical goods space, riding C&W growth and margin gains

India ready with incentives to build semiconductor chip ecosystem, says Rai

Invest India is collaborating MeitY, ISM to bring global semiconductor firms to create a full-fledged chip manufacturing ecosystem

CII seeks tax holiday, rule harmonisation to boost India's GCC sector

CII suggests tax holidays, concessional rates, GST clarity and harmonised permanent establishment rules for GCCs, projecting $600 bn GDP impact and 25 mn jobs by 2030

Swiss timepiece brands on the clock to meet India's luxury appetite

With rising wealth and young buyers, India emerges as a top growth market for Swiss luxury watch brands

Govt hikes apprenticeship stipends to Rs 6,800-12,300 under new rules

Govt notifies stipend hike for apprentices, expands industry coverage under NIC 2008, promotes degree and virtual apprenticeships, and enhances inclusivity

India must develop rare earth magnet ecosystem urgently: SIAM president

India must act decisively to fully leverage the vast opportunities that exist in India for developing the entire rare earth magnet ecosystem, SIAM President Shailesh Chandra said on Thursday. The government is considering incentives for the production of rare earth minerals and magnets in response to China's restrictions on its global supply, which have disrupted the supply chain. "Magnets have since snowballed and industry is presently trying to somehow manage its businesses," said Chandra here at the annual convention of the Society of Indian Automobile Manufacturers (SIAM) "... there are discussions underway to look at the possibility of developing the entire Rare Earth Magnet ecosystem in India. Therefore, to fully leverage the vast opportunities that exist in our country, we must act decisively," said Chandra, who is also Managing Director, Tata Motors Passenger Vehicle and Tata Passenger Electric Mobility. Chandra further said the Indian automotive industry today stands at an

EPAM Systems' next act: AI at the core, says new CEO Balazs Fejes

New CEO Balazs Fejes says clients are moving from AI trials to full-scale execution, reshaping demand for engineering and transformation services

Ethical marketing code: Cost of compliance may rise for drug, device firms

UCPMPD 2024 boosts transparency and ethics, but smaller firms may struggle with higher costs and reporting demands

SEMICON India 2025: Industry seeks policy push to build product nation

Industry leaders say incentives, procurement, and talent ecosystem are key to driving India's semiconductor and product ambitions.