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At Vibrant Gujarat Summit, PM Narendra Modi says India World’s 6th Largest Manufacturing Country

business

GANDHINAGAR: At the Vibrant Gujarat 2017 Summit on Tuesday, Prime Minister Narendra Modi told a gathering of business leaders that India is the 6th largest manufacturing nation in the world and is on verge of becoming the world’s most digitized economy. The government, he underscored, was working to absorb newer technologies, bring about transparency…and create an enabling environment for business ... Read More »

Air India Ranked Third-Worst Performing Airline In The World

business

For those who insist that traveling is all about the journey, we say this: It really depends on which carrier you’re flying. Aside from variations in cabins and service quality, there’s the major concern of how likely you are to get delayed. Fly on the wrong airline and your odds of a delay are as high as 55 percent; choose ... Read More »

Some protectionism needed to help domestic companies: SBI chief

business

State Bank chairman Arundhati Bhattacharya on Saturday said some level of protectionism is needed to safeguard national interest and also encourage entrepreneurs to build companies of global scale. “I think in matters of real national importance if it is important for the government to ring-fence certain things, the government should do it, because at certain phases some amount of protectionism ... Read More »

H-1B Visa Concerns: Top 4 IT Companies Lose 22,000 Crores In Market Value

business

Shares of information technology companies such as HCL Technologies, Infosys, Wipro, TCS, Tech Mahindra, Mindtree, Persistent Systems and Mphasis came under heavy selling pressure today after a bill backing key changes in the H-1B programme was reintroduced in the US. The IT sub-index on the BSE slumped 2.5 per cent with shares like HCL Technologies falling 3.5 per cent, Infosys ... Read More »

Government pushing TIES to boost exports

business

NEW DELHI: Underlining the need for synergising efforts between Centre and states to boost the country’s exports on sustainable basis, Commerce and Industry Minister Nirmala Sitharaman on Thursday said it is trying to formulate a scheme which could provide financial support and create export infrastructure in states. “There is an immediate need to synergize our efforts and jointly take appropriate ... Read More »

As Much As 97% Of Banned Notes Are Back In Banks: Report

business

Indians have deposited nearly all the currency bills outlawed at the end of the deadline last year, according to people with knowledge of the matter, dealing a blow to Prime Minister Narendra Modi’s drive to unearth unaccounted wealth and fight corruption.  Banks have received 14.97 trillion rupees ($220 billion) as of Dec. 30, the deadline for handing in the old ... Read More »

GST: States demand tax on high sea sales, higher compensation

business

New Delhi: In fresh roadblocks to GST rollout, states on Tuesday demanded taxation rights for sales in high seas and also increasing the number of items on which cess is to be levied to compensate the states to deal with revenue loss estimated at Rs 90,000 crore post demonetisation. Initially a Rs 55,000 crore GST compensation fund was proposed to ... Read More »

Arundhati Bhattacharya: Credit growth to improve after rate cut

business

The 90-basis point (bp) rate cut is expected to improve credit growth for the country’s largest lender State Bank of India (SBI) to eight-nine% for the financial year 2016-17. So far, credit has grown at an unimpressive 6.7-6.8% since April 2016, SBI Chairman Arundhati Bhattacharya said. This is a decline, compared with SBI’s loan growth estimate at the beginning of ... Read More »