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The withdrawal of several Western companies from the Russian market has created gaps across critical sectors, paving the way for Indian MSMEs and exporters to expand their footprint. Dmitry Zavgorodniy, Chief Executive Officer of Russian exhibition leader ITE Group, said Indian businesses are increasingly competitive and well-positioned to fill the demand, reported news agency ANI.ITE…
Union finance minister Nirmala Sitharaman speaking at a joint conclave of trade and industry associations in Chennai (Picture credit: PTI) Union finance minister Nirmala Sitharaman on Sunday described the latest Goods and Services Tax (GST) reforms as a huge victory for every Indian, saying they would ease the tax burden on citizens while giving a…
The government had extended the income tax return (ITR) filing deadline for the financial year 2024-25 (assessment year 2025-26) to September 15 from July 31, giving taxpayers additional time.This relief applies to taxpayers who are not required to get their accounts audited, such as salaried individuals and pensioners, ET reported.Document verification plays a crucial role…
Gold prices are expected to hold their gains but may witness some consolidation as investors await the outcome of the US Federal Reserve’s policy meeting on September 17, analysts said.Traders will also track inflation data from major economies including the UK and Euro zone, along with policy decisions by the Bank of England and Bank…
Union minister Nitin Gadkari on Sunday said the sugar industry in India has managed to survive largely due to the advent of ethanol and stressed the need for adopting new technologies in farming.Speaking at an event organised by Naam Foundation in Pune, Gadkari said farmer suicides in Maharashtra’s Vidarbha and Marathwada regions were mainly linked…
Equity mutual fund inflows, including hybrid schemes but excluding arbitrage, in August this year fell to Rs 424 billion, marking a 25% month-on-month and 8% annual decline, as per a JM Financial report.The fall was driven largely by a thinning new fund offering (NFO) pipeline, which accounted for 61% of the Rs 142 billion MoM…
The International Finance Corporation (IFC) is poised to book hefty returns from Tata Capital’s upcoming $2 billion (Rs 17,000 crore) initial public offering, as the World Bank Group arm looks to partially exit its investment in the non-banking finance company.According to the updated draft red herring prospectus (DRHP), IFC will offload 3.58 crore shares in…
India must urgently develop its own sovereign cloud technology, homegrown operating systems (OS), cybersecurity, and AI capabilities to reduce its over-reliance on US systems, the India-based Global Trade Research Initiative (GTRI) has argued, warning that current dependence poses major economic and security risks.In a report, GTRI highlighted that Indian phones, computers, defence, and government applications…
The combined market valuation of eight of the 10 most valued domestic firms jumped Rs 1,69,506.83 crore last week, in line with an upbeat trend at Dalal Street. Bajaj Finance led the gainers, while Hindustan Unilever and LIC were the only laggards.During the week, the BSE benchmark surged 1,193.94 points or 1.47 per cent, boosting…
File photo: Finance minister Nirmala Sitharaman (Picture credit: PTI) Finance minister Nirmala Sitharaman has indicated that the Insurance Amendment Bill, which proposes to raise foreign direct investment (FDI) in India’s insurance sector to 100 per cent, is likely to be introduced in Parliament during the upcoming Winter session, which is likely to commence from the…
