Search Result for : Revenue

By Abin Daya The LIBOR is dead! Well, not quite. But in the next 4 years, it could be. The The Financial Conduct Authority (FCA) announced this week that it intended to phase out the LIBOR by 2021. Post that, banks would no longer be compelled to provide interest quotes to the Inter-Continental Exchange, and in the absence of these, the benchmark would die a natural death. What comes after that? We don’t know yet. But the first item this week is something closer home – India’s foreign trade numbers for the month of June. Apart from what is included in the update, I also tried to explore if there was some sort of correlation between industrial production growth and export performance. ...

The Dollar Business Bureau Indian Pharma exports to the US may increase in 2017-18 despite pricing pressure and stiff competition. A report released by Care Ratings said that $50 billion worth of drugs are expected to become 'off-patent' in the current year giving hope to the Indian Pharma export market. "The pharma export volumes from India to US, however, are expected to rise. This will be backed by about $55 billion expected sales gain to generics drugs on account of branded drugs going off patent during 2017-19 which will create an opportunity for CRAMS segment. We expect growth rate for CRAMS (Contract Research and Manufacturing Services) to be higher compared to average growth rate of the industry. These factors are likely to support pharma exports from India," ...

The Dollar Business Bureau Targeting a highest ever revenue at Rs.17,900 crore for current financial year, state-owned aerospace and defence firm, Hindustan Aeronautics Limited (HAL) on Wednesday signed a Memorandum of Understanding (MoU) with the Ministry of Defence (MoD).  HAL has also put special emphasis on modernisation, capacity building and solar power plants, with the aim to attain a capital expenditure (capex) of Rs.1,300 crore, the company said in a statement. The MoU has charted out the targets on several performance parameters for the current fiscal. The MoU was signed by Ashok Kumar Gupta, Secretary in the Department of Defence Production, on behalf of Defence Ministry and T Suvarna Raju, CMD, on behalf of HAL. “The company’s thrust is on ‘Make in India’ projects such as Hindustan Turboprop ...

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 ...

By Ranjit Mahtani & Sweta Rajan After 17 years of preparation and 18 meetings of the GST Council, a single unified Goods and Services Tax (GST) in India is today a reality. In a momentous launch at the Central Hall of the Indian Parliament with a speech by the Finance Minister and the Prime Minister of India, the GST regime was ushered in at the stroke of midnight on July 1, 2017. While the mammoth task for the Central and State Governments has just concluded, as far as trade and industry are concerned, the journey has only just begun. GST, in the form that it has been introduced in India, may not be perfect; however, it is the reality, and trade and ...

The Dollar Business Bureau  India’s IT software exports are expected to grow at 7-8% during the current financial year 2017-18, which is less than 8-10% in the previous fiscal of 2016-17, the apex trade body NASSCOM said on Thursday. “The outlook for the IT industry in fiscal 2017-18 is 7-8% growth in exports and 10-11% in the domestic market as against 10-12% in 2016-17,” NASSCOM said in a statement. The Indian IT services sector has been coping with a slowdown in the business of banking and financial services, which contributes a major part to the revenues. It has also been impacted by its retail customers facing a sluggish growth from the upsurge of online retail channels. India’s $150-billion IT industry revenues mainly come from Business Process Management (BPM), software ...

The Dollar Business Bureau  The Commerce Ministry will finish the mid-term review of Foreign Trade Policy (FTP) earlier than expected so that it would coincide with the rollout of Goods and Services Tax (GST) on July 1, said a senior official on Tuesday, while adding that exporters have asked for policy incentives to boost exports.  “The objective of the meeting was to seek inputs for the review of FTP to coincide with the launch of GST. Exports have made a revival and they need support so that it continues to grow,” Commerce Secretary Rita Teaotia told reporters on the sidelines of Board of Trade meeting.  The second reconstituted Board of Trade meeting was chaired by Commerce and Industry Minister Nirmala Sitharaman. Besides, officials from Revenue and ...

The Dollar Business Bureau In a strong move against counterfeiting and enabling the “Make-Sure-India” movement in the country, India’s first two-day authentication conference cum exhibition – The Authentication Forum 2017 opened on Feb 13 at The Taj Mahal Hotel, Man Singh Road, New Delhi. This forum is organised by Authentication Solutions Providers Association (ASPA) and Messe Frankfurt India (MFI) jointly. A high-profile panel of experts including government authorities and technology specialists have come together in New Delhi to mark the launch of this important platform which was inaugurated by B K Prasad (IAS), Member – Secretary, National Commission for Denotified, Nomadic & Semi-Nomadic Tribes, Ministry of Social Justice and Empowerment along with P. V. Rama Sastry, Joint Secretary – Department of Consumer ...