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The Economic Times India reviewing Asean trade pact with an eye to boost domestic manufacturing

India is reviewing its trade pact with Asean to address anomalies like the inverted duty structure disadvantaging local manufacturers. Measures such as production-linked incentive schemes, import tariffs, and import monitoring are in place to tackle the trade deficit.

The Economic Times India Inc, CFOs and Gen AI

Global consultancy firm Mckinsey has identified three areas where the Gen AI can have an impact on finance functions. First is automation, second is augmentation and third is acceleration.

The Economic Times Next-level tax & GST reforms, Rs 1 lakh cr to make India a global innovation hub: New govt's economic agenda for 100 days

The cabinet secretary has convened a meeting on Friday with officials from key economic ministries to outline the economic agenda for the initial 100 days of the incoming government following the general election. Discussions may encompass streamlining the goods and services tax (GST) rate structure, amendments to the Insolvency and Bankruptcy Code (IBC), and immediate economic challenges.

The Economic Times Global trade to pickup in 2024: WTO

India clocked $451 billion goods export in FY 23 and $394.99 billion in April-February FY24. In its latest Global Trade Outlook and Statistics report, India’s share of global goods exports was 1.8% in 2023 and imports was 2.8%. In digitally delivered services, India’s share rose to 6% in 2023 from 4.4% in 2019. In global commercial services, India’s share in exports is seen 4.4% in 2023 at $344 billion, up 11% on-year whereas imports were flat at $247 billion.

The Economic Times KPMG, Deloitte affiliates hit with US penalties for exam cheating

Exam cheating has plagued the auditor industry for years. KPMG in 2019 agreed to pay $50 million to the U.S. Securities and Exchange Commission (SEC) for a series of violations

The Economic Times Red Sea Crisis: RBI and IRDAI asked to help limit impact on exports

In a letter, which was also addressed to state-run export finance institution Exim Bank, the finance ministry last month told the RBI and Insurance Regulatory and Development Authority of India (IRDAI) to monitor and look into the concerns raised by exporters with the commerce ministry about these disruptions potentially inflating India's export costs, officials said.

The Economic Times The unmaking of Anil Ambani's billionaire status: From 6th richest to facing ₹3,300 crore refund

Anil Ambani, once ranked as the sixth richest person globally, faces setbacks as the Supreme Court reverses an Rs 8,000 crore arbitral award in favor of a firm in his group, Reliance Infrastructure. The award, related to a concession agreement with Delhi Metro Rail Corp in 2008, now requires nearly Rs 3,300 crore repayment by Ambani's firm. This development adds to the financial challenges faced by his group amid debt restructuring.

The Economic Times Federal Reserve officials signal concern over stalling inflation progress, minutes show

Federal Reserve officials expressed concern last month about a potential stall in inflation progress, suggesting a prolonged period of stringent monetary policy might be necessary to control rising prices. Minutes from the March 19-20 meeting indicated uncertainty regarding sustained high inflation

The Economic Times Wipro became IT's CXO nursery under Thierry Delaporte

During Delaporte's four years at Wipro, four Wipro former executives went on to become CEOs outside the company, while three became CFOs even as other senior leaders joined smaller and larger firms in top CXO roles.

The Economic Times Invesco plans to exit MF business in India

IIHL - the Mauritius-based investment company of the mobility-to-chemicals conglomerate that owns IndusInd Bank and Anil Ambani-promoted Reliance Capital, which it bought recently in a bankruptcy resolution - has valued Invesco Asset Management India at Rs 2,100-2,500 crore.

The Economic Times ADB raises India's GDP growth forecast for FY25 to 7 pc on robust investment, consumer demand

Asian Development Bank raised India's GDP growth forecast to 7% for the current fiscal, driven by robust investment and improving consumption demand. Growth moderates in FY2024 and FY2025, with support from monetary and fiscal policies.

The Economic Times Chain reaction: Apple jobs in India set for 3x jump in 3 years

Cupertino-based Apple is looking to increasingly distance itself from China. It also aims to increase local value addition from its Indian suppliers in line with the approach that it has adopted in China.

The Economic Times Govt ends easy tax relief for Mauritius-based FPIs

This limitation on third-party countries will be a concern, along with the new requirement to demonstrate that tax relief is not one of the principal purposes of the investment, said experts.

The Economic Times Adani Group acquires 25 acres from Finolex in Pune to set up data center

In February 2021, Adani Group’s flagship company Adani Enterprises entered a 50:50 joint venture with EdgeConneX to develop and operate data centers throughout India. The joint venture will focus on building a network of hyperscale data centers across the country, starting with Chennai, Navi Mumbai, Noida, Vizag, and Hyderabad markets.

The Economic Times India, EU launch initiative for EV start-ups

EU and India launch a matchmaking event for startups in EV Battery Recycling Technologies to enhance circularity and carbon-neutrality. The event promotes sustainable innovation and economic relations, fostering collaborations for a green and circular economy.