Retailers gear up for Budget 2024, seeking tax cuts, green push and digital boost. With the expected growth rate in mind, retailers are looking forward to specific measures in the Interim Budget 2024. They are expecting government support in terms of taxes and incentives to boost the sector’s growth. “Reducing gross and services tax (GST) […]
In a move aimed at further incentivising fresh investments in the manufacturing sector and promoting ease of compliance, the Indian government is reportedly considering extending the lower tax rate of 15 per cent for companies establishing new manufacturing units. As per reports, this extension is likely to be announced in the upcoming Interim Budget scheduled […]
The Indian footwear industry has the potential to experience significant growth, expanding from its current valuation of USD 26 billion to reach USD 90 billion by 2030, according to a report by the Global Trade Research Initiative (GTRI). To achieve this, the report outlines several measures, including banning shoe imports, offering fiscal incentives, establishing more […]
Shares of state-owned defence and aerospace company Bharat Electronics hit an all-time high on Tuesday, after a series of orders the firm received over the past week. The shares closed 4.09 per cent higher at Rs 181.95 and traded at its all-time high of Rs 184.50. So far in 2023, it rose 82 per cent […]
The manufacturing sector in India has been witnessing proliferating growth in investment, depicting a crucial phase in the country’s economic arena. As per the published dossiers by the Department for Promotion of Industry and Internal Trade (DPIIT), the manufacturing sector engrossed substantial Foreign Direct Investment (FDI), with FDI equity inflows tallying around USD 17.51 billion […]
Domestic electronics manufacturing has witnessed a remarkable increase in the past decade, growing by over 400 per cent to reach a staggering Rs 8.22 lakh crore in FY 2022-23. As informed by Minister of State for Electronics and IT Rajeev Chandrasekhar in the Lok Sabha, India’s domestic mobile phone manufacturing has achieved a milestone, with […]
Hon Hai Precision Industry Co., the company that manufactures iPhones, is planning to invest another NT$50 billion (USD 1.6 billion) in construction projects in India to expand its footprint in the country. The company made the announcement in an exchange filing in Taiwan on Monday, stating that the investment will be for operational needs, without […]
Minister of Electronics and Information Technology, Ashwini Vaishnaw, took to social media platform X to announce achievement in the mobile industry. In a post, he revealed that the Indian mobile industry has experienced exponential growth, expanding by a remarkable factor of 20 in just nine years. Minister Vaishnaw posted on X, “Met Mobile industry to […]
Tech major Lenovo on Friday said that it is launching Preferential Market Access (PMA) compliant PCs with its ‘made in India’ motherboard, underscoring its commitment to strengthen and expand its manufacturing footprint in the country. The company said the move has qualified it for the Class 1 PMA bracket with over 50 per cent of […]
Indian ecommerce exports are likely to touch USD 200 billion in the next 6-7 years and will play a critical role in achieving the USD 2 trillion goods and services export target, a senior Directorate General of Foreign Trade (DGFT) official said here on Friday. Addressing the ‘FICCI E-commerce Exports’ conference, Additional Secretary and DGFT […]
