Passengers in Qatar airways can now travel seamlessly to and from India, over 150 destinations on single ticket
The Dollar Business Bureau Qatar Airways and Vistara on Tuesday entered into an interline partnership, under which customers of the two carriers will have seamless travel to and from India to over 150 destinations. The partnership is effective from Monday, Qatar Airways said in a media release. The Gulf carrier currently operates to 13 cities in India from Doha while Vistara, the Tata-SIA run domestic carrier operates to 18 domestic destinations. An interline arrangement refers to a pact to issue and accept tickets for flights that are operated by the partner airline. When selling an interline ticket, the operating airline's own flight numbers are used. According to the Interline partnership arrangement, passengers holding a Qatar airways’ can travel seamlessly to and from a wide range ...
Grasim Industries divests its arm GBTL to Donear group
The Dollar Business Bureau Grasim Industries Ltd, a company of Aditya Birla Group, will sell its fully-owned arm Grasim Bhiwani Textiles Ltd (GBTL) to Donear Group’s Rajendra Synthetics. However, the amount of the deal has not been disclosed. “We are divesting our 100% holding of Grasim Bhiwani Textiles Ltd (GBTL), a wholly owned subsidiary, to Donear group,” the company said in a statement. The move is part of our time-to-time business portfolio review exercise and our strategy to consolidate the focus on our core business, it said. The company’s board, in a meeting held on Monday, cleared the agreement for transferring 100% stake in GBTL to Donear Group. “The company has entered into a definitive agreement for divesting the company's total investment in GBTL to Rajendra ...
India likely to enter into FTA with EAEU countries
The Dollar Business Bureau The Joint DGFT of Mumbai has issued an official communique TRADE NOTICE NO.1/2018 today notifying that the Indian Government intends to enter into an Free trade Agreement, this year with the Eurasian Economic Union (EAEU) consisting of countries Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia. Through the notification the Department of Commerce intends to conduct a stakeholder’s consultation with various business houses of Mumbai, trading bodies, Ministry of Industries and the Govt of Maharashtra to understand the challenges/benefits that the FTA could generate. This is specific to the firms located in Maharashtra. According to the notification the DGFT feels that some sectors could be affected due to the India-EAEU FTA. These being Agricultural products (especially Fish products, coffee, oil cakes ...
Modis tax reforms are ambitious and efficient, Turnbull
The Dollar Business Bureau Australian Prime Minister Malcolm Turnbull in his maiden visit to India has struck bonhomie with the country, especially with Indian PM Narendra Modi in ways not many of his predecessors or diplomats would have been able to do. The diplomat on his 3 day visit not only visited the political capital, but also made a halt at the financial capital- Mumbai, before heading home. During his visit Turnbull referred to Indian Prime Minister Narendra Modi’s tax reforms as ambitious and efficient. He additionally averred that Modi-regime’s tax efficiency has deregulated the economy and created effective duty structures. The visiting PM boarded a metro with NaMo to visit the Akshardham Temple and on the third day of his tour, was ...
British finance minister to lead trade delegation to India next week
The Dollar Business Bureau Britain has constantly indicated a better economic integration with India - now the world’s sixth-largest economy after it overtook Britain last year - post-Brexit. In a fresh attempt to strengthen economic and trade ties with New Delhi, British Finance Minister Philip Hammond will lead a trade mission to New Delhi next week. The trade meeting themed on ‘Make in India, Finance in the UK’ will see British finance minister pitching UK’s attractive trade market, while seeking Indian investments in the UK. Chancellor of the Exchequer Hammond, along with Governor of the Bank of England Mark Carney and UK government ministers, including Commercial Secretary Baroness Neville-Rolfe and International Trade minister Mark Garnier will visit New Delhi and Mumbai to participate ...
Executives and Industry captains felt the budget was business-as-usual
The Dollar Business Bureau Corporate executives and industry captains deliberating at CII’s live budget viewing session at Mumbai had a mixed-feel while watching the budget unfold. When Jaitley came on the giant screen at 11:00, everybody thought he would bring AccheDin, but very few felt it were Achhe Din. Most CEOs chose modesty in acknowledging the budget as one in the “right-earnest” and some even commented that it was “business-as-usual”. CORPORATE TAXATION The industry was primarily gung-ho on amends in corporate taxation, improvement in the education sector, affordable housing, exports, tariffs and GST related discussions. But many of these keywords went unaddressed as the FM chose MSME, Agriculture and common man to focus on. Corporate taxation was anticipated to drop to an 18% figure, a proposal ...
MoU with GSTN will offer trade-nos. for services sector: Ajay Bhalla
By Sairaj Iyer A convocation ceremony is usually a gathering to felicitate exalted students, however, the one at the Indian Institute of Planning turned out to be different. The discussions ranged from academics, packaging & printing to 'better exports'. It was surprising to find the DGFT and the minister of state for science, technology, and earth science showing keen interest in sharing insights on how good packaging could result in better export numbers. Ajay Kumar Bhalla, the newly appointed Director General for Foreign Trade shared that an MoU has been signed with the GST network which should help make public the trade-numbers from the services sector. The DGFT was speaking exclusively with The Dollar Business around the sidelines of a press conference and a ...
Trafalgar expects 20% growth in India this year
The Dollar Business Bureau UK-based travel company Trafalgar expects to achieve about 20% growth in India this year. “India is the fastest growing country for us in Asia, and since last two years we have been witnessing double digit growth from this market. This financial year (January-December) we are expecting 19-20% growth,” Trafalgar (Asia) President Nicholas Lim said. The company, which has already completed three years in the country, earns 12-15% of its total revenue from India. Lim said several factors such as 60% repeat clientele in India, insider experiences, premium clientele, superior services and word of mouth have contributed to the company’s unparallel success in the country. “India, which contributes 12-15% to the overall revenue of the company, is a focus market for ...
