A shift appears underway in India’s tax landscape. States with relatively smaller tax collections like Odisha and Telangana are emerging as the fastest-growing contributors to indirect and direct tax collections, respectively. Illustration: Dominic Xavier/Rediff They are challenging the long-standing dominance
Sunil Bharti Mittal-led conglomerate Bharti Enterprises and private equity firm Warburg Pincus will collectively acquire a 49 per cent stake in Haier Appliances India, the local unit of China’s Shandong-based Haier group, for an undisclosed amount. Photograph: Aly Song/Reuters The
‘Unlike the US, which is largely homogeneous, India has many languages, many demographics, very different discretionary spending, and very different digital maturity.’ Image used for representation purpose only. Photograph: Francis Mascarenhas/Reuters Prosus, the Amsterdam-based technology investor with net assets valued
The Centre has proposed allowing captive mine owners to sell minerals in the open market after meeting the requirement of their linked end-use plants, as part of a broader overhaul of mineral concession rules aimed at easing operational restrictions and
The International Financial Services Centres Authority (IFSCA) has cleared a series of regulatory relaxations to ease operations for fund managers in GIFT City, along with a revamped framework for global in-house centres (GICs) and capital market intermediaries. Photograph: Amit Dave/Reuters
Benchmark equity indices Sensex and Nifty ended lower in a volatile trade on Wednesday as trading volumes remained subdued amid the year-end holiday-shortened week and mixed trends in global markets. Photograph: Shailesh Andrade/Reuters The 30-share BSE Sensex dropped by 116.14
The Reserve Bank on Wednesday postponed implementation of the second phase of the faster cheque clearance mechanism to provide more time to banks to streamline their operations. Photograph: Francis Mascarenhas/Reuters The second phase of the ‘Continuous Clearing and Settlement on
The insurance industry is trying to get to grips with provisions in the proposed Insurance Amendment Bill, which gives additional powers to the Insurance Regulatory and Development Authority of India (Irdai), while there is ambiguity in the very definition of
Quota-based duty concessions granted by India to New Zealand for apples, kiwifruit, and Manuka honey are linked to the delivery of agriculture productivity action plans committed by the island country under the free trade agreement. Image used for representation purpose
Leasing of retail space in shopping malls and high streets across India’s top eight cities is estimated to rise 15 per cent to nearly 9 million sq ft this year on increased supply amid high demand from retailers, according to
