The Economic Times The Economic Times

The Economic Times Government to hold wider, focussed consultation with industry bodies on DPDP rules: Ashwini Vaishnaw

Ministry of Electronics and IT Secretary S Krishnan highlighted the provision for submitting feedback through the MyGov portal, enabling participants to share their views anonymously, ensuring a broad spectrum of inputs.

The Economic Times Budget could levy higher import duties to contain dollar demand, stem rupee slide: EY's Srivastava

The government may increase import tariffs in the upcoming Budget to counter the significant fall in the rupee's value. This move is expected to reduce the demand for dollars by importers and provide higher protection to the domestic industry. It may also lead to an increase in import duty revenue.

The Economic Times High manufacturing cost led to surge in WPI inflation in December: Report

A report by ICICI Bank attributes the surge in December's wholesale inflation to increased manufacturing inflation, with 18 out of 22 manufacturing sub-components recording positive inflation. Notably, manufactured food inflation reached a 32-month high, while non-metallic mineral products and basic metals witnessed negative inflation. Potential risks include higher international crude oil and industrial metal prices.

The Economic Times Significant growth opportunities in India because of under-penetration in most sectors: Report

India stands out as a promising market with vast untapped potential, as the country remains below the global average in product penetration across several key sectors, highlights a report by ICICI Mutual Fund.

The Economic Times Demerger to push pace of growth: ITC Hotels MD

ITC Hotels, now a separate debt-free entity, aims for accelerated growth with its six brands. ITC Hotels plans to increase its room capacity to over 18,000 rooms across 200 hotels by 2030 through an asset-right strategy. Managing director Anil Chadha highlighted the focus on upscale and economy segments, and the continued importance of food and beverage in their revenue generation.

The Economic Times Commerce Ministry may seek 5-year extension of interest equalisation scheme for exporters in Budget

The commerce ministry in India is expected to seek an extension of the interest equalisation scheme for five more years in the upcoming Budget. This scheme assists exporters in obtaining competitive rupee export credits, particularly benefiting MSMEs during challenging economic times. Exporters and organizations like FIEO are supporting the extension, emphasizing its importance for maintaining competitiveness.

The Economic Times RBI reshuffles portfolios of Deputy Governors; Michael Patra’s tenure concludes

The RBI has reassigned responsibilities among three Deputy Governors, M Rajeshwar Rao, T Rabi Sankar, and Swaminathan Janakiraman, effective January 15, 2025. The reshuffle follows the conclusion of Michael Patra’s tenure, with Rao, Sankar, and Janakiraman overseeing departments spanning regulation, fintech, monetary policy, and financial stability.

The Economic Times GST tribunals likely to take six more months to begin operations

The GST tribunals (GSTAT) are expected to take another six months to become operational due to delays in appointing members and securing real estate. The IT infrastructure procurement is still pending, with plans to be completed by March-end. Sanjaya Kumar Mishra has been appointed as president.

The Economic Times PTC India's 4 PSU shareholders want to log out of promoter role

Its key shareholders are four public sector undertakings - NTPC, Power Grid Corporation of India, PFC and NHPC - all of which are promoters of the company. They want to relinquish that role to ringfence the companies from any fallout from the PTC India inquiry. They aim to limit participation in PTC India's affairs, such as board representation, according to the people cited.

The Economic Times Suitor PepsiCo joins Haldiram Snacks queue; US execs in direct talks with Aggarwal family

PepsiCo has recently entered negotiations for a minority stake in Haldiram Snacks Food, competing with contenders Temasek and Alpha Wave Global. The Aggarwal family, seeking their first external investment, expects a valuation of Rs 85,000-90,000 cr. PepsiCo aims to leverage Haldiram's market strength in ethnic snacks.

The Economic Times The great Indian rupee slide: All that you want to know

The Indian rupee reached an all-time low of 86.63 against the US dollar due to a stronger dollar and various global factors. Despite RBI interventions, analysts predict a continued fall possibly past 90 per dollar, driven by US economic policies, higher oil prices, and capital outflows. Sectors like IT and textiles may benefit, while import-dependent industries will face challenges.

The Economic Times Bharat Mobility Global Expo 2025: After 5 years, MEA gives in-principle no-objection to participation of executives from China

Following a relaxation of visa restrictions by the Indian government, Chinese auto industry executives will be allowed to participate in India's largest motor show for the first time in nearly five years, signaling a de-escalation in geopolitical tensions between New Delhi and Beijing.

The Economic Times Meta is planning to cut 5% of lowest performers, memo shows

The company aims for 10% "non-regrettable" attrition, with 5% already achieved in 2024. Employees exiting will receive generous severance, said Mark Zuckerberg in the memo sent to his employees. The company will accelerate performance-based cuts during the current cycle, the Meta CEO added.

The Economic Times Consumer brands’ funding ride keeps deal street busy

Venture funds are sitting on ample dry powder and will accelerate deal-making in early-stage startups. Funds like Accel, 3One4 Capital, Peak XV Partner, Lightspeed Venture Partners and others are on the hunt for new deals across sectors and themes.

The Economic Times NCLT Mumbai’s outsourcing staff goes on strike over delay in salary

The Mumbai bench of the National Company Law Tribunal's outsourcing and contractual staff went on strike due to non-payment of December 2024 salaries and delays in payments over the past six months. They demand salary release and a revision in pay not updated since NCLT's inception in 2016.

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