NEW DELHI: India’s ballooning trade gap and capital outflows are raising new risks for the rupee, just as the currency’s plunge to a record low adds to inflation woes. “India’s external balances are deteriorating,” economists at Goldman Sachs Group Inc. wrote in a note Thursday, citing the terms-of-trade shock from higher commodities prices and weakening… Continue reading More pain for rupee likely on India’s trade gap, capital outflow
Author: Economic Times of India Online News
June factory growth at 9-month low as inflation worries bite
Factory output growth rose to a eight-month high of 7.1% from a year ago, led by a double-digit increase in electricity production. BENGALURU: India’s factory output expanded at its slowest pace in nine months in June as elevated price pressures continued to dampen demand and output, according to a private survey, which also showed business… Continue reading June factory growth at 9-month low as inflation worries bite
5 years of GST: Has it done enough to propel Make in India?
On the output side, manufacturing and sale of goods attracted Excise duty and VAT/ CST. On 1 July 2022, we will reach a new milestone in the indirect tax reform journey. GST, which subsumed most of the erstwhile indirect taxes, removed all internal trade barriers, and unified the Indian market, will celebrate its 5th anniversary.… Continue reading 5 years of GST: Has it done enough to propel Make in India?
Decision to allow firms below GST threshold to engage in e-commerce to help small businesses: Goyal
Goyal further said that the decision for rationalising the GST rates on cut and polished diamonds would help in promoting the growth of the sector. The decision to allow firms below the GST threshold to engage in e-commerce is a major decision, which will help small businesses get benefitted from the fast-growing online sector, Commerce… Continue reading Decision to allow firms below GST threshold to engage in e-commerce to help small businesses: Goyal
After three consecutive months of fall, consumer sentiments recover slightly in June
The index of consumer sentiments recovered marginally in June after three consecutive months of fall but the uneven and slow recovery can delay the recovery in final consumption expenditure, the Centre for Monitoring Indian Economy said. As per the CMIE, the 30-day moving average ICS as of June 26 was 1.3% higher than its level… Continue reading After three consecutive months of fall, consumer sentiments recover slightly in June
Dassault Systemes, Skill-Lync to upskill 10K Indian engineering students
Dassault Systemes on Thursday announced partnership with Skill-Lync to upskill over 10,000 engineering students and professionals in India, annually for co-branded talent transformation programmes. The collaboration aims to embed industry leading practices into the engineering curriculums by providing students with project-based learning modules, frugal engineering practices, as well as training and certifications in the latest… Continue reading Dassault Systemes, Skill-Lync to upskill 10K Indian engineering students
5 years of GST: A mix of success and work in progress
With the introduction of GST, the country adopted a pan India technology platform, which could aid the adoption of sophisticated automation tools and simplify GST reporting and related compliances. ‘One nation, One market, One tax’ – the driving motto behind the introduction of GST, with effect from 01 July 2017, has brought 1.3mn taxpayers into… Continue reading 5 years of GST: A mix of success and work in progress
Rate tweaks to make up for inefficiencies in value chain; states conscious of inflation impact: FM Sitharaman
Nirmala Sitharaman Finance Minister Nirmala Sitharaman on Wednesday said any increase in GST rates under the rate rationalisation exercise is intended to make up for the ‘inefficiencies’ in the value chain. Stating that all states are aware of the potential impact of rate rationalisation on inflation, Sitharaman said any increase in tax rates will also… Continue reading Rate tweaks to make up for inefficiencies in value chain; states conscious of inflation impact: FM Sitharaman
South African experience of Mahindra vehicle production serves as model for other operations: Company official
The success of automotive giant Mahindra’s South African subsidiary in producing localised vehicles with customer input is serving as a model for adaptation at its plants across the globe, according to a senior company official. “South Africa has the opportunity to explore the most through understanding customer insights. South Africa has contributed immensely to the… Continue reading South African experience of Mahindra vehicle production serves as model for other operations: Company official
Audio Interview: Differences Among Top Automotive Manufacturing Regions in Mexico – How do Suppliers Select Best Locations?
Gary Swedback, CEO of NAI Mexico and NAI PanAmericas Gary Swedback is CEO of NAI Mexico and NAI PanAmericas, part of the NAI Global network, a leading industrial and commercial real estate advisory firm. NAIMexico operates 25 offices across Mexico and Latin America, and works with many global customers, including those in the auto industry.… Continue reading Audio Interview: Differences Among Top Automotive Manufacturing Regions in Mexico – How do Suppliers Select Best Locations?