Business

  • CAIT calls for early roll out of e-commerce policy
    NEW DELHI, SEPTEMBER 27 (IANS): The Confederation of All India Traders (CAIT) has called upon Union Commerce Minister Piyush Goyal to roll out the e-commerce policy at the earliest to curb "malpractices" of large e-commerce players in India. In a statement, the traders' organisation said: "Indian e-commerce ecosystem has been greatly vitiated by large e-commerce companies and in the wake of steep rise of e-commerce share in the Indian domestic trade, it is all the
  • Cos adapting biz models to align with Aatmanirbhar Bharat reality
    NEW DELHI, SEPTEMBER 27 (IANS): With the pitch for an Aatmanirbhar Bharat along with the compulsions of a pandemic-stricken economy becoming a reality, many companies are adapting and re-aligning business models. Organisations across sectors like manufacturing, healthcare, technology and others are working towards adapting and realigning their business models. Sharad Malhotra, President (Automotive Refinishes and Wood Coatings) at Nippon Paint India is looking at make in India in
  • Printing 'Best before date' on sweets must from Oct 1
    NEW DELHI, SEPTEMBER 27 (IANS): While buying sweets, you must now check the 'Best before date' as it has been made compulsory for the sweetmakers to mention it on the product. The new norm will be in force from October 1. It means the shopkeeper has to inform the customer that till what date the dessert will remain edible. However, it will not be mandatory to write the date of manufacture of the product, as the Food Safety and Standards Authority of India (FSSAI) has left
  • Centre plans non-tariff barriers on toy imports early next year
    NEW DELHI, SEPTEMBER 27 (IANS): In line with its ambitious plan to make India a toy hub and self-reliant in the segment, the Union government is likely to go a step forward and impose further non-tariff barriers on toy imports. Official sources told IANS that the licence regime for toy imports may start in a phased manner, starting March next year or early FY22. This will be a follow up of quality control order issued for the industry recently. The first priority for the governme
  • Vodafone Idea starts upgrading 3G users to 4G in key markets
    MUMBAI, SEPTEMBER 27 (IANS): Vodafone Idea Limited (VIL) has started upgrading its 3G users to 4G in key markets. In a statement on Sunday, the company said that it has substantially enhanced 4G capacity by consolidating the Vodafone and Idea networks and deployment of latest technologies enabling it to upgrade large chunks of 3G spectrum to 4G. "VIL will now be able to offer faster 4G data speeds to its 3G users on the Vi GIGAnet network. The company's enterprise custom
  • GST e-invoicing mandatory from October
    New Delhi, September 26 (IANS): No further relaxation is likely in terms of e-invoicing as the Centre is set to go ahead with the decision to make GST e-invoicing mandatory for companies with annual turnover of over Rs 500 crore for their business-to-business transactions starting October 1. Industry representatives, however, have urged the government to not make it mandatory and rather allow voluntary compliance. The relief, however, would be there for relatively smaller busines
  • Hyd startup develops 'world's first social drinking platform'
    Hyderabad, September 26 (IANS):    A Hyderabad-based startup has launched what it claims to be the world's first social drinking platform, which will also deliver liquor to people at their doorsteps. The developers of Booozie, the web and app-based platform, claim it will promote responsible drinking. It features a database of bars/clubs in every city, offers and events at various bars/clubs, an exhaustive catalogue which lists the brands and current MRP of b
  • Jio partners with AeroMobile for in-flight mobile connectivity
    MUMBAI, SEPTEMBER 25 (IANS): Reliance Jio has partnered with Panasonic Avionics Corporation's subsidiary, AeroMobile, to launch India's first in-flight services for 'JioPostpaid Plus' users. In a statement, Jio said that its in-flight service will allow every Indian traveller going abroad, to stay connected with voice and data services on a flight, at affordable rates. "The in-flight services will be available to Indians when they travel abroad. Once the serv
  • Amazon Business announces 'anniversary sale' from September 25-30
    NEW DELHI, SEPTEMBER 25 (IANS): Amazon Business on Friday announced a special anniversary sale from September 25 to September 30 on account of completing three years of its services in India. In a statement, the company said that the event will feature a wide selection of products from both brands and MSMEs, offering deals and offers across various categories like IT, telecom, services, education, hospitality and healthcare, offering products such as IT peripherals, home and kitchen
  • CBDT launches faceless income tax appeals
    NEW DELHI, SEPTEMBER 25 (IANS): The Central Board of Direct Taxes (CBDT) on Friday launched the Centre's much-publicised reform measure of faceless income tax appeals. Under faceless appeals, all income tax appeals will be finalised online under the faceless ecosystem with the exception of appeals relating to serious frauds, major tax evasion, sensitive and search matters along with international tax and the Black Money Act. On August 13, while launching the Faceless Assessme
  • Diesel price falls again after 2-day pause, no relief on petrol
    NEW DELHI, SEPTEMBER 25 (IANS): Diesel price continued to decline on Friday after a two-day pause as the product prices fell globally while crude prices remained steady. Oil marketing companies, however, kept petrol prices unchanged for the third consecutive day. In the national capital, diesel price fell by 18 paisa per litre to Rs 71.10 a litre down from Rs 71.28 per litre on Thursday. The petrol price remained static at Rs 81.06 a litre. In the other metros of Mumbai, Chenn
  • Vodafone wins arbitration against India for tax demand of Rs 20K cr
    NEW DELHI, SEPTEMBER 25 (IANS): Vodafone has won the case against India over a retrospective tax demand of more than Rs 20,000 crore. The Permanent Court of Arbitration at The Hague has ruled that the conduct of India's tax department is in breach of "fair and equitable" treatment. Voafone had moved the International Court of Justice (ICJ) in 2016 due to a lack of consensus between the parties' arbitrators in finalising a judge for the tax dispute. Following
  • WagonR S-CNG clocks sales of 3 lakh vehicles: Maruti Suzuki
    New Delhi, September 25 (IANS): Automobile major Maruti Suzuki's 'WagonR S-CNG' has emerged as the highest selling CNG vehicle in the country, the company said on Friday. According to the company, the CNG variant of the tallboy hatchback has surpassed 3 lakh units in sales, "making it the most successful CNG car across all passenger vehicle segments". "Since its debut in 1999, WagonR has over 24 lakh happy customers and it's the first car for nearly
  • Online grocery to become $18bn industry in India by 2024: Report
    BENGALURU, SEPTEMBER 25 (IANS): As companies from Reliance to Amazon put their top dollar in serving daily grocery at your doorstep, a new report said on Friday that online grocery is going to be the next battleground for growth, expanding to over $18 billion by 2024. According to a joint report by a joint initiative by Bengaluru-based market consulting firm RedSeer and Bigbasket (Brand Intelligence), driven by the significant rise in organic adoption during Covid-19, eGrocery has b
  • Fresh Covid cases, lockdown fears make global, Indian equities bleed
    MUMBAI, SEPTEMBER 24 (IANS): Dangers to an overall international economic recovery such as rising Covid-19 cases, along with possible reimposition of lockdown measures in some European countries, pushed the global and the Indian stock markets deep into the red on Thursday, with the BSE Sensex losing 1,100 points, its worst performance in six months. Besides, no new stimulus measures for the US, combined with a slower growth forecast for the world's largest economy, also impacted
  • Centre allows Rs 9,913 cr additional borrowing by 5 states
    NEW DELHI, SEPTEMBER 24 (IANS): The Department of Expenditure, under the Finance Ministry, has granted five states permission to raise additional financial resources of Rs 9,913 crore through open market borrowings. The states are Andhra Pradesh, Telangana, Goa, Karnataka and Tripura. "This permission has been accorded after these states successfully met the reform condition of implementation of One Nation One Ration Card System," an official statement said. The addi
  • Maruti Suzuki launches 'vehicle subscription programme'
    NEW DELHI, SEPTEMBER 24 (IANS): To offer flexible car ownership options, Maruti Suzuki India on Thursday launched its vehicle subscription programme. The vehicle subscription programme "Maruti Suzuki Subscribe" has been made available in Delhi, NCR (Noida, Ghaziabad, Faridabad, Gurugram) and Bengaluru. The company said the programme allows a customer to use a new car without actually owning it and by paying an all-inclusive monthly fee that covers maintenance, insurance
  • Harley-Davidson plans to close India manufacturing facility
    NEW DELHI, SEPTEMBER 24 (IANS): Cruiser bikes giant Harley-Davidson on Thursday said that it plans to close its manufacturing facility in Haryana's Bawal and significantly reduce the size of its sales office in Gurugram. The development comes as part of 'The Rewire' initiative which intends to overhaul the company's operating model and market structure. The company said that it is changing the business model in India and evaluating options to continue to serve its
  • LG expands budget smartphone line-up with 3 new models
    SEOUL, SEPTEMBER 24 (IANS): LG Electronics on Thursday added three new models to its budget smartphone lineup as the South Korean tech firm targets to expand its mobile sales. The K62, the K52 and the K42 have been added to LG's K series family and will be launched next month starting in Europe. LG did not reveal prices of the new smartphones, reports Yonhap news agency. All three models have a 6.6-inch punch-hole display with a 20:9 aspect ratio, and a quad-rear camera setup
  • Facebook partners with Matrix Partners India to scale SMBs
    NEW DELHI, SEPTEMBER 24 (IANS): Facebook on Thursday said it has joined hands with early stage venture capital fund Matrix Partners to scale small businesses in India by providing them with timely digital skilling support. The move comes barely a week after the social networking giant announced a grant of $4.3 million (Rs 32 crore) for more than 3,000 small businesses in Delhi, Gurgaon, Mumbai, Hyderabad and Bengaluru impacted by Covid-19. The tie-up with Matrix Partners is a par