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 […]
Demand for industrial and logistics spaces reached an all-time high in eight major cities last year, with leasing activity increasing by 8 per cent yearly, according to CBRE. According to CBRE’s most recent study, leasing of industrial and logistics spaces increased to 38.8 million square feet in 2023 from 36 million square feet the previous year, […]
The government should not reduce import charges on electronic components used in smartphone manufacture in the next Budget since the present tariff system has proven successful and altering it might affect local manufacturing, according to a GTRI report released on Monday. The Global Trade Research Initiative (GTRI) stated that keeping existing rates will assist in […]
Hitachi’s Indian arm is aiming to become a major growth engine for the Japanese conglomerate, targeting a USD 20 billion contribution to its parent’s revenue by 2030. This ambitious goal was revealed by Bharat Kaushal, Hitachi India’s managing director, at the World Economic Forum. India’s growing importance as a global hub for component and capital […]
India is considering import duty cuts on components key to producing high-end mobile phones, two government officials said, which would potentially be a boost for companies like Apple and the country’s exports. Companies in the sector have been pushing for cuts on nearly a dozen components to reduce the cost of making smartphones in India […]
Although winter is the peak time for the textile industry to make sales, the traders have reported that all their hopes have been dashed to the ground due to the late arrival of the winter season. The industry which has already been facing stagnation for the last few years also failed to get relief this […]
The Indian economy is expected to grow 7.3 per cent in the current financial year 2023-24, remaining the fastest-growing major economy, the National Statistics Office said on Friday. However, these are early projections for 2023-24. Improved data coverage, actual tax collections, expenditures incurred on subsidies, and data revisions made by source agencies would have a […]
India is projected to grow at the rate of 6.2 per cent in 2024, backed by a robust domestic demand and strong growth in the services and manufacturing sectors, the United Nations (UN) has said. The UN released the World Economic Situation and Prospects (WESP) 2024 report on Thursday. The report states that South Asia’s […]
Amidst global turmoil, frozen dessert players aim for sweet growth and innovation in 2024 In the middle of economic uncertainties due to geopolitical crisis across the globe, players from the frozen dessert companies are gearing up to face 2024 with the hope of growing their businesses to contribute more to India’s growth story. Even though […]
India’s manufacturing sector concluded 2023 with a somewhat uncertain outlook as factory growth decelerated to an eighteen-month low in December, revealed by a business survey released on Wednesday. The HSBC India Manufacturing Purchasing Managers’ Index, produced by S&P Global, dipped to 54.9 in December from November’s 56.0. Nevertheless, the index remained above the 50-mark, indicating […]
