Business Standard - September 10, 2024

In this issue

September 10, 2024

IT policy set to roll in by yr-end with focus on GCC, jobs

More than a decade after the National Policy on Information Technology (NPIT 2012) was introduced, the Union government is readying a new policy with changed goals and benchmarks.

2 mins

Local procurement mandate for solar projects may get stringent

The Centre is planning to tighten the mandate on domestic procurement in solar power project development to further push indigenous products.

2 mins

GoM to decide future of GST compensation cess

Panel on insurance to give report in Oct; foreign airlines get relief

3 mins

M&A deal value of over 2,000 cr comes under Competition Act

The much-anticipated provision of the deal value threshold (DVT) under the Competition Amendment Act 2023, notified on Monday, seeks to capture mergers and acquisitions (M&As) where the deal value exceeds $2,000 crore or where the target company has substantial business operations in India.

2 mins

High growth momentum set to continue even in '25: Toyota

Toyota Kirloskar Motor (TKM), which saw a 45 per cent year-on-year (Y-o-Y) increase in volume sales in the first eight months of the year, is expecting to continue its growth momentum even into the next calendar year, its Country Head and Executive Vice President Vikram Gulati (pictured) said on Monday.

1 min

Moderation in PV sales growth natural: Hyundai India COO

The passenger vehicle (PV) sales growth was higher than usual in 2022 and 2023 and therefore, some moderation now was \"very natural\" and it was not a cause for worry, Hyundai Motor India Limited (HMIL) Chief Operating Officer Tarun Garg said on Monday.

2 mins

Challenge to make new-age tech affordable: MSIL

Customers today ask for featureloaded cars and the auto industry's challenge is to develop newage technologies at affordable prices in India, Maruti Suzuki India (MSIL) Managing Director and CEO Hisashi Takeuchi said on Monday.

1 min

EMPS to be extended till FAME-III launch

The Electric Mobility Promotion Scheme (EMPS) will be extended until the rollout of the third phase of the Faster Adoption and Manufacturing of Electric Vehicles (FAMEIII), Union Minister for Heavy Industries HD Kumaraswamy (pictured) said.

1 min

Tower-Adani fab proposal at appraisal stage: ISM chief

The recently announced $10-billion joint fab proposal by Israel's Tower Semiconductor and India's Adani group is at the appraisal stage under the India Semiconductor Mission (ISM).

1 min

Gadkari: Production cost of EVs down, subsidies not my call

'Prices of EVs to be same as petrol, diesel ones in two yrs'

2 mins

Carrefour to re-enter India; first store in NCR next year

French retailer's comeback to be via strategic franchise pact with Apparel Group

2 mins

GMR to acquire 10% more in Delhi airport

The GMR group's airport business arm GMR Airports Infrastructure Ltd (GIL) on Monday said it had entered into a share purchase agreement with Fraport Frankfurt Airport Services Worldwide for acquiring the latter's 10 per cent holding in Delhi International Airport Ltd (DIAL) for $126 million.

1 min

Deal expected to close by March 2025

Deal expected to close by March 2025

1 min

Pixxel first Indian space startup to get Nasa order

Bengaluru-based space technology startup Pixxel, which specialises in cutting-edge hyperspectral earth-imaging technology, has won the largest supplier deal by an Indian company from the National Aeronautics and Space Administration (Nasa).

1 min

Ikea operator set to invest ₹5,500 crore in Noida

Lucknow, 9 September Uttar Pradesh Chief Minister Yogi Adityanath on Monday virtually laid the foundation for a mega Ikea store project in Noida.

1 min

Mpox case confirmed; no immediate risk: Centre

States, UTs told to review preparedness

3 mins

Strong monsoon boosts urad, moong sowing area

A strong monsoon this year has increased the area under cultivation of pulses.

1 min

NSC back in focus as Centre scraps Pronab-led panel

With the dissolution of former chief statistician Pronab Sen-led Standing Committee on Statistics (SCOS) by the Ministry of Statistics and Programme Implementation (MOSPI), the National Statistical Commission (NSC) has regained prominence as the primary statistical body to address issues regarding results, methodology and questionnaire, among others.

2 mins

'Independent panel to look at non-compliance, take action'

Fintech Association for Consumer Empowerment (FACE) is the first industry body which has been recognised as a self-regulatory organisation in the fintech sector by the Reserve Bank of India (RBI). This is from the three applications it received for the formation of such an entity. Following RBI's nod, SUGANDH SAXENA, chief executive officer, FACE, spoke to Subrata Panda in a video interview on how the organisation plans to onboard new members. She talked about how it will enforce its standards and practices on its members. Edited excerpts:

3 mins

Life insurers' new business premium up 22% in August

Non-life insurers report muted growth in gross direct premium at 4.2%

2 mins

'India requires ₹30 trillion investment by 2030 for 500 GW renewables'

Union New & Renewable Energy Minister Pralhad Joshi on Monday said as much as 30 trillion is required to meet the target of 500 Gw by 2030.

1 min

'India for Gaza ceasefire as soon as possible'

Describing the current situation in Gaza as India's \"foremost concern\", External Affairs Minister S Jaishankar on Monday said that New Delhi supported a ceasefire \"as soon as possible\" in the region, where Israel and Hamas are engaged in conflict since last 11 months.

1 min

India, UAE ink pacts on LNG supply, nuke energy

Five MoUs signed after Modi meets UAE Crown Prince Sheikh Khaled in Delhi

2 mins

SC tells protesting medics to join work from today

Raises concern over absence of key document needed for autopsy of RG Kar doctor

2 mins

Bengal's tally of women in police one of the lowest, Bihar's highest

Number low despite quotas in many states

3 mins

Iran our partner: Russia amid missile supplies report

The Kremlin, asked on Monday about the Wall Street Journal report that Iran has sent short-range ballistic missiles to Russia, said that Iran is Russia's partner, and that the two countries are developing dialogue all areas.

1 min

Couche-Tard pushes for Seven & ideal talks after rejection

Canada's Alimentation Couche-Tard said it was willing to engage in confidential discussions with Japanese retail giant Seven & i Holdings on its $38.5 billion takeover offer, as it remains keen on pursuing a buyout.

1 min

Invest extra to remain competitive: Draghi to EU

Fromer European Central Bank President Mario Draghi called on the European Union (EU) to invest as much as €800 billion ($884 billion) extra a year and commit to the regular issuance of common bonds to make the bloc more competitive with China and the US.

2 mins

Israeli strikes on Syria kill 18, injure dozens

Highest death toll in such an attack since the war began in Gaza

1 min

China's demographic retreat

Our own demographic dividend will not last forever

5 mins

The skill gap

The Tourism & Hospitality Skill Council (THSC), under the aegis of the Ministry of Skill Development and Entrepreneurship, recently signed a memorandum of understanding with the global digital payments giant Visa.

2 mins

Finetuning industrial nodes

On August 28, the Cabinet approved a proposal to create 12 greenfield industrial nodes/cities along the backbone of the Golden Quadrilateral.

3 mins

Ather Energy looks to raise ₹3,100 cr

Electric two-wheeler (e2W) maker Ather Energy has submitted preliminary papers to the Securities and Exchange Board of India to raise funds through an initial public offering (IPO).

1 min

FVCIs now get FPIs' governance playbook

Sebi mandates disclosure of beneficial ownership, allocates registration and monitoring responsibilities to DDPS

2 mins

Linde India seeks SAT relief on valuation diktat

Industrial gases and engineering firm Linde India has sought relief from the Securities Appellate Tribunal regarding the valuation diktat stated in an order passed by the Securities and Exchange Board of India (Sebi).

1 min

Growth recovery, higher margins to drive gains for IT companies

In previews of Q2FY25 and beyond, industry analysts are expecting a turnaround for IT services.

2 mins

Market buoyancy spurs IPO rush

Since July over three dozen companies from diverse sectors have filed their DRHPs

2 mins

Most public offerings get lapped up on Day 1

All the three initial public offerings (IPOs) that hit the market on Monday were lapped up by investors.

1 min

Smart choice: Consider interest rate, collateral, and co-signer

The number of Indian students pursuing higher education abroad doubled between 201920 and 2023-24, according to a recent report by CRISIL Ratings.

2 mins

Brokerages bullish on Bajaj Housing Finance

BHFL's ₹6,560 cr IPO opened for subscription on Monday

3 mins

Raj Kapoor's restored Awara to musings from Manipur

World premiere to include Indian film Superboys of Malegaon on the life of auteur Nasir Shaikh

3 mins

Guindy Race Course jockeys for survival

The hearts of horse racing enthusiasts across India have been racing since Monday morning after Tamil Nadu's revenue department sealed the Madras Race Club in Guindy, the country's oldest horse racing venue.

2 mins

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