Explained: How Chinese firms won some of India’s recent PSU tenders

India’s sourcing from China may not necessarily be for cost-effectiveness alone but also for the lack of domestic qualified bidders, technology or other know-how. With the ongoing border tension pushing India to re-think its dependence on Chinese imports, the clamour to depend on domestic companies is getting louder. But a closer look at some of the tenders awarded by the […]

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‘I can’t see an Elon Musk anywhere in India’

‘Saying the private industry will come and transform India’s space programme is real moonshine!’ “It is high time the private sector makes investments in R&D in high-tech areas and also ventures into new horizons,” G Madhavan Nair, former chairman, Indian Space Research Organisation, tells Shobha Warrier/Rediff.com in the concluding segment of a two-part interview: Part 1: ‘Vested interests want private […]

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‘We will continue with China business’

Sundram Fasteners is planning to grow the Chinese venture further expanding on its product range covering fasteners, bearing housings, machined castings. Sundram Fasteners, part of the $8.5 billion TVS Group, said that it’s Chinese venture continued to be profitable and the company did not foresee any impact on its China operations. “We have been in China for the past 15 […]

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‘Defence is a permanent start-up’

‘India should take up defence manufacturing in a more serious manner and encourage greater private participation.’ “I am not for opening up defence to FDI. No foreign company is going to put in 74 per cent and give you the latest in technology,” S N Subrahmanyan, MD and CEO, Larsen & Tourbo, tells Amritha Pillay. When do you see things […]

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How India Inc plans to woo buyers amid COVID-19

From auto, refrigerator, and mobile handset makers to real estate firms, companies are tying up with banks to dole out attractive finance schemes and discounts to make buying more affordable. Consumer discretionary firms are pulling out all stops to grab a share of the consumer’s wallet as shopping gains speed after almost two months. From auto, refrigerator, and mobile handset […]

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122 million jobs have been lost because of the lockdown

‘Over 27 million youngsters in their 20s lost their jobs in April.’’33 million men and women in their 30s lost jobs in April,’ points out Mahesh Vyas. Labour statistics improved during the week ended May 10, 2020. But only in comparison to the previous week, which was the worst that India has witnessed so far. The unemployment rate fell from […]

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How your workplace will change forever

From properly spaced desks to visual signals, office life is expected to change beyond recognition, predicts Shyamal Majumdar. Courtesy COVID-19, offices may never be the same again. Some corporate leaders have even started talking about the future of skyscrapers – headquarters of many large companies. If the chatter is to be believed, high-rises would become more expensive to build and […]

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Centre owes Rs 3 trn to states and industry

Assocham president Niranjan Hiranandani said his talks with government officials showed dues to industry and states were pending in the form of refunds of income tax, value-added tax, and GST, and compensation, payments to discoms in the power sector, fertiliser subsidies, etc. At a time when industry urgently needs a stimulus, the Union government and its agencies owe companies and […]

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Rights issue pricing norms for NRIs tightened

Experts said the rules will help curb market manipulation and money laundering, which could take place during the transfer of shares between residents and NRIs. The government has tightened the rights issue pricing norms for non-resident Indians (NRIs) by disallowing acquisition of renounced shares below the fair market value. In a notification issued under the Foreign Exchange Management Act (Fema) […]

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Your flight check-in will never be the same again

Extended check-in time, frequent disinfection every hour, additional queue managers at entry, exit, boarding point, check-in halls, security check areas and boarding gates, with social distancing markers and reminders – welcome to our airports post-coronavirus.  Indian airports are preparing to resume business in a scenario where they know business will be unusual.  While counting their losses and strategising on how […]

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