Mncs In India

ED claims MNC firms gained from fake input tax credit scam worth crores

The Enforcement Directorate (ED) on Friday said its preliminary probe into a multi-crore pan-India alleged fake input tax credit (ITC) fraud has found that "big MNCs" were benefiting from these illegal transactions. The Itanagar (Arunachal Pradesh) office of the federal probe agency carried out searches in this case on Thursday and covered about 10 premises in the northeastern state apart from Delhi, Haryana, Tamil Nadu and Telangana. The raids were undertaken in connection with a multi-crore fake ITC fraud following registration of a case under the Prevention of Money Laundering Act (PMLA), it said in a statement. ITC is a legal mechanism in the Goods and Services Tax system that allows business entities to reduce their tax liability by claiming credits on GST paid for business-related purchases. The case stems from a complaint against a company named Amit Traders, located in Assam's Guwahati, the agency said. The company was found to be "non-existent" at its declared address, it

MNCs see higher returns in India, outpacing global growth trends: Report

Country's share in global growth 2-8 times its volume share: Report

EY employee's death highlights job stress: 1 in 3 Asians face burnout

The tragic death of an EY employee has sparked social media discussions about the importance of work-life balance and burnout, which, according to a McKinsey report, is a greater concern for Asians

MNC selldowns

As multinational corporations capitalise on India's valuation premium, there are reasons for caution as well

More MNCs eye IPO route after passenger car major Hyundai Motor move

Investment bankers say early stage talks on with about half a dozen foreign firms

DPIIT working on SOP to ease entry for certain Chinese workers in India

Industries that are not covered under the PLI scheme struggle to employ Chinese workers for machinery installation, thereby hindering production expansion in the 'China plus one' approach

Tax dispute intensifies over marketing and ad expenses of MNC subsidiaries

The tax authorities argue that these AMP expenses incurred by MNC subsidiaries enhance the value of trademarks or brands owned by the foreign parent entities

India GCCs emerge as proof-of-concept foundries for GenAI applications

Companies are utilising GCCs as a "sandbox environment" to develop PoCs that accelerate their digital journey by leveraging GenAI across relevant domains

Healthy development

Consumer watchdogs must be more proactive

Enhance portfolio resilience by investing in MNC fund: What is on offer?

These funds, however, tend to underperform when domestic cyclicals do well

Home business grows faster than overseas for India's biggest MNCs

These companies' revenues in India have grown at a faster pace than their overseas revenues. As a result, the contribution of Indian business to consolidated revenues has steadily increased

Local suppliers, MNCs voice concerns over DPIIT's Make in India push

Class-I suppliers, whose goods, services or works offered for procurement has local content equal to or more than 50 per cent may see it hiked to 70 per cent

India-listed multinational arms outclass parent firms' valuations

Trend may draw foreign companies to India listing, while existing players assess potential of monetising stakes

HMD unveils strategy to recover lost ground in Indian smartphone market

But company executives clarified that it will continue to make Nokia phones and move to a multi-brand strategy across the globe

Microsoft appoints Aparna Gupta as Global Delivery Center leader

Gupta will spearhead customer innovation and delivery excellence, cloud growth acceleration with top-tier talent, industry depth, and partner ecosystem

MNCs, GCCs lead India office space leasing; to reach 62 mn sq ft by 2025

Number of Global Capability Centres likely to reach 3,000 by 2030, employing more than 3 million people

Table Space to invest Rs 500 crore in 'TS Suites' over the next 18 months

TS Suites are pre-built offices on short and mid-term contracts, which are made available in under 24 hours

India to have 1,900 GCCs, market to be worth $60 bn by 2025: Report

Collaboration and customer-centric business development among factors enabling country's capacity

From electronics to semiconductor, MNCs in search of policy stability

Global manufacturing majors seek a less unpredictable policy environment before investing more 'China-Plus-One' dollars in India

India tracking through earnings calls

Amazon's interest in the Indian market has fluctuated over the years, while Walmart seems more enthusiastic. However, it is Tim Cook's Apple that is most optimistic about its prospects