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The Economic Times India: $60 Trillion economy by 2047

As India marks its 78th Independence Day, Vipul Arora, Partner at Sattva Consulting and author of Essence of ESG, explores how embracing climate solutions can propel India to developed nation status by 2047.

The Economic Times Ransomware attacks surge amid increased M&A activity, drive up cyber insurance claims

Criminal operations are increasingly targeting interconnected systems and newly acquired companies, posing substantial risks across various sectors, says a report.

The Economic Times India’s Trade Deficit widens to USD 23.5 Bn after narrowing in June

The overall trade balance, which includes both merchandise and services, also declined, with a deficit of USD 9.61 billion in July 2024, compared to a deficit of USD 6.52 billion in July 2023.

The Economic Times Why did Starbucks terminate Laxman Narasimhan? Brian Niccol will be the new boss

Starbucks announced that Brian Niccol, current CEO of Chipotle, would replace Laxman Narasimhan as its new CEO. Narasimhan stepped down amid efforts to revitalise the company. This move follows financial challenges and pressure from activist investors. Niccol, known for driving growth at Chipotle, will start on September 9. Interim CEO Rachel Ruggeri steps in until then.

The Economic Times How a multinational company captured a whole country

The East India Company began as a trading entity in the 1600s, evolving into a powerful political force in India. Key events like the Battle of Plassey marked its rise. Before gaining independence, India was one of the world’s wealthiest economies, yet its fragmented Mughal rule made it vulnerable to exploitation. The East India Company (EIC) capitalized on this opportunity, growing into one of the world’s largest business corporations. Internal mismanagement and uprisings led to the British Crown taking over in 1858, which continued until India's independence in 1947.

The Economic Times Byju’s vs BCCI: SC stays NCLAT order that set aside insolvency case against edtech

Earlier, US-based Glas Trust, which represents some lenders of a Byju's group company, had filed an appeal before the Supreme Court challenging an earlier order that had quashed insolvency proceedings against Byju's.

The Economic Times Jupiter Wagons eyes 30% of Indian Railways 40,000 annual wagon orders; CFO targets 50-50 revenue split by 2028

The manufacturer of railway freight wagons, brake discs, castings, and other mobility solutions aims for a balanced revenue model by 2028, targeting a 50-50 split between wagon manufacturing and other businesses, particularly components.

The Economic Times India’s WPI moderates to 2.04% in July from 3.36% in June

The WPI Food Index, which combines food articles from the primary articles category and food products from the manufactured goods category, rose from 190.3 in June to 195.4.

The Economic Times Insolvency Board mandates unique identification number for valuation reports

As per the current practice, Registered Valuer (RV)/ Register Valuers Entity (RVE) submit the valuation reports with or without mentioning any reference number leading to potential issues concerning verification. "In order to ensure authenticity and to have a unique reference number of the valuation reports, it has been decided to provide a Valuation Report Identification Number (VRIN) for each valuation conducted under the Code," the IBBI circular said.

The Economic Times Fund cited by Hindenburg against SEBI chairperson not domiciled in Mauritius: Regulator

In a significant blow to Hindenburg Research, the Financial Services Commission (FSC) of Mauritius on Tuesday said the fund cited by the US short-seller in its allegations against SEBI Chairperson Madhabi Puri Buch are neither licensees of the FSC nor "domiciled in Mauritius".

The Economic Times More questions emerge on 'potential malpractice' by SEBI chairperson', JPC must: Congress

A firm and its auditor sharing the same address is generally a sign of poor corporate governance.

The Economic Times Some positive changes by audit firms, but a lot more needs to be done: Ajay Bhushan Pandey

The National Financial Reporting Authority (NFRA) has identified preliminary audit quality issues in its ongoing inspections of major audit firms. NFRA Chairman Ajay Bhushan Prasad Pandey noted that while some positive changes have been made, particularly in addressing conflicts of interest, more improvements are needed. The NFRA is inspecting seven audit firms this year, with plans to increase the number further. The NFRA is also working with the Indian Institute of Corporate Affairs (IICA) to enhance communication and training for audit committees of listed companies.

The Economic Times SpiceJet's Ajay Singh to dilute stake by over 10% to raise Rs 3,000 crore amid financial struggles

Ajay Singh, the promoter of SpiceJet, is set to reduce his shareholding in the beleaguered airline by over 10% to raise approximately ₹3,000 crore. Despite the dilution, Singh will remain the largest shareholder, with his stake expected to fall to 30-35%. The airline aims to issue new shares to investors to bolster its capital base. SpiceJet, grappling with financial challenges and operational issues, hopes that the infusion of funds will help stabilize its operations and attract investors amid a robust demand for air travel in India.

The Economic Times MSMEs to get Rs 15,000-crore subsidy to adopt green tech

The government is planning a ₹15,000 crore green initiative for micro, small, and medium enterprises (MSMEs), set to launch by early 2025. This scheme aims to support MSMEs in adopting green technologies, setting up material recovery facilities, and improving waste management. Additionally, an e-marketplace for recyclables will connect manufacturers with waste collectors, promoting efficient price discovery. The Bureau of Energy Efficiency will play a key role in monitoring and enhancing energy efficiency among MSMEs. The initiative is designed to reduce the carbon footprint of MSMEs and boost their global competitiveness.

The Economic Times Apple’s India business surpasses $23 billion as manufacturing growth reaches 50-year high

According to the recent Economic Survey, India contributes around 14% to the US tech giant’s overall production, emerging as a key hub for its global exports. In FY23, India’s contribution was about 7%. iPhones dominate the numbers. Of the Rs 2-lakh crore valuation, iPhones worth a market value of around Rs 1.35 lakh crore ($15 billion) were exported last fiscal year, show calculations based on official data.