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The Economic Times
The Economic Times India's Manufacturing PMI drops to 8-month low at 56.5 in September
India's Manufacturing PMI dropped to 56.5 in September, an eight-month low, as growth slowed across key segments amid fierce competition. While inflation eased, input costs rose and profit margins tightened. Job creation slowed, and business confidence fell to its lowest level since April 2024.
The Economic Times Bridging the Adoption Gap: 4 Leaps for Successful Digital Transformation
In "Bridging the Adoption Gap: 4 Leaps for Successful Digital Transformation," SVenkat and CFO Amit Kikani explore essential strategies for fostering user adoption in transformative digital initiatives.
The Economic Times India's economic dependence on China is growing despite Atmanirbhar Bharat
China’s dominance in global exports, particularly concerning capital-intensive products, presents a significant challenge for India in establishing a manufacturing ecosystem says a report.
The Economic Times NFRA at six: Top auditors urge stronger governance and tech use amid rising debarments
As the NFRA marks six years of enhancing audit quality in India, top auditors call for stronger governance engagement, technological adoption, and a remedial approach.
The Economic Times Uber in deal with Shadowfax to integrate two-wheeler fleet
In a statement, Uber said the partnership will allow it to strengthen its bike-taxi operations with additional two-wheelers and launch operations in towns where Shadowfax is present.
The Economic Times FPIs pump Rs 86,000 crore in Indian equities in Q2, highest since December 2020
Flows from foreign funds into Indian equities were moderate in the first-half of 2024 on concerns over rich valuations and tight monetary policy in the US. With the dollar weakening following the rate cut in the US and India's weight on global indices increasing, foreigners have increased their local holdings.
The Economic Times WACR 18 bps higher than repo rate despite surplus liquidity
On Monday, the weighted average call rate rose to 6.68%, exceeding the Reserve Bank of India's 6.50% repo rate, due to uneven liquidity distribution in the banking system. Public sector banks faced a shortfall, despite an overall liquidity surplus of Rs. 79,806 crore.
The Economic Times Taxation of 40% on carbonated beverages hampering innovation: Indian Beverage Association’s JP Meena
India's beverage industry, facing a 40% GST on carbonated drinks, advocates for tax rationalization to spur innovation, job creation, and investment. The industry is hindered by steep taxes, unlike sweets and chocolates, which are taxed at lower rates. Stakeholders highlight the $18.25 billion market's potential growth if tax rates align with sugar content differentiation practiced in other markets.
The Economic Times In FY23, manufacturing jobs rise 7.6%, wages up 5.5%: Govt survey
Manufacturing in India has bounced back strongly from the Covid-19 impact, reflecting a 7.4% rise in GVA for 2022-23 and industrial output surging over 21%. Employment and wages have also improved, surpassing pre-pandemic levels. Key growth drivers include basic metals, petroleum, food, chemicals, and vehicles, contributing significantly to the sector's output.
The Economic Times Government asks white goods industry to apply for manufacturing sops in large numbers
The DPIIT has reopened the application window for the PLI scheme for white goods, urging manufacturers to participate. Despite previous muted responses, 66 applicants have committed Rs 6,962 crore in investments. The scheme aims to boost manufacturing of ACs and LED lights over seven years with a Rs 6,238 crore outlay.
The Economic Times BharatPe settles dispute with Ashneer Grover, cuts all company ties
BharatPe revealed that Grover's shares will be partially transferred to the Resilient Growth Trust, benefiting the company, while the remainder will be managed by his family trust.
The Economic Times Union Finance Minister Nirmala Sitharaman reviews performance of RRBs in North East
Union Finance Minister Nirmala Sitharaman reviewed the performance of 7 Regional Rural Banks in the North East. She urged them to boost credit disbursement under various Government schemes. She called for increased credit for agriculture and allied activities. She also emphasized the importance of covering every eligible person under the Pradhan Mantri Jan Dhan Yojana.
The Economic Times Dr Lal PathLabs sets sights on big buys to expand in south
If the asset is of a strategic fit, it could look at a deal size of Rs 3,000 crore-Rs 4,000 crore, said a senior company official. "We have around Rs 1,000 crore (net) cash, we can leverage our balance sheet, we can use our equity, size will not hold us," said Ved Prakash Goel, group CFO, in an interview to ET. "There are people who are there in the market, the (valuation) expectation is high," Goel said.
The Economic Times Dr Lal PathLabs sets sights on big buys to expand in south
If the asset is of a strategic fit, it could look at a deal size of Rs 3,000 crore-Rs 4,000 crore, said a senior company official. "We have around Rs 1,000 crore (net) cash, we can leverage our balance sheet, we can use our equity, size will not hold us," said Ved Prakash Goel, group CFO, in an interview to ET. "There are people who are there in the market, the (valuation) expectation is high," Goel said.
The Economic Times Ravi Ahuja to take over as CEO of Sony Pictures as Tony Vinciquerra steps down
Tony Vinciquerra will step down as Sony Pictures Entertainment's Chairman and CEO in January 2025. Ravi Ahuja, the current Chairman of Global Television Studios, will take over the role. Vinciquerra will stay in an advisory role until the end of December 2025 while Ahuja will report to Sony Group Corporation's leading executives.
