CATEGORIES

‘There's a renewed focus on GCCs with tech emphasis’

KPMG is ramping up its capacity by about 20 per cent annually, focusing on its technology division while also reviewing the effectiveness of its well-being policies, says YEZDI NAGPOREWALLA, chief executive officer of KPMG India, in an interview with Ruchika Chitravanshi in New Delhi. Edited excerpts:

India-UK FTA negotiations likely to restart in Nov

India is hoping that free trade agreement (FTA) negotiations with the United Kingdom (UK) will restart in November, a senior government official has said.

GenAI startups in India see 3.6x surge in H1CY24

India's GenAI ecosystem has witnessed strong, broad-based growth, with the total number of GenAI startups increasing 3.6 times to more than 240 by the first half of 2024 (H12024) from over 66 in H12023, according to a report by IT trade body Nasscom.

Indian manufacturing should eye export-led growth: Godrej

The Indian manufacturing sector should aim for export-led growth driven by climate-friendly processes and see regulations like the Carbon Border Adjustment Mechanism (CBAM) as an opportunity to have a global footprint, Jamshyd Godrej (pictured), Chairman, CII Sohrabji Godrej Green Business Centre and Chairman, Godrej & Boyce told Business Standard in Delhi on Wednesday.

Committed to long-term investment in India

Singapore headquartered Sembcorp Industries is the largest foreign renewable energy (RE) player in India with 5 gigawatt (Gw) of operational solar and wind power capacity. It started out by acquiring several key RE assets in India and went on to participate in government tenders. The company is widening its ambit to hybrid RE and green ammonia production. In an interaction with Shreya Jai in New Delhi, A NITHYANAND, chief executive officer (CEO), renewables business (India), Sembcorp Industries, shares the company's plans in India. Edited excerpts:

Bajaj Auto Q2 net skids 31%, revenue rises 22%

Pune-based two-wheeler major Bajaj Auto on Wednesday reported a 31.4 per cent fall in consolidated profit after tax (PAT) to ₹1,385.44 crore for the second quarter of the financial year 2024-25 (Q2FY25). Its revenue from operations grew 22.2 per cent to ₹13,247.28 crore during the period.

Vistara stood out by empowering frontline employees: Chairman

Vistara stood out from other Indian carriers like IndiGo because it empowered frontline employees to solve passengers' problems and provide a premium service, said its Chairman Bhaskar Bhat (pictured) on Wednesday.

Samsung workers resume work today

Workers at the Samsung India Electronics, who ended their strike demanding better pay and working conditions, would resume work from tomorrow, the Centre of Indian Trade Unions (CITU) said on Wednesday.

Reliance's IP sprint: 3K patents at 100 filings/week

Reliance Industries has filed over 3,000 patents - currently at a rate of 100 per week - in cutting-edge technology areas such as artificial intelligence (AI), 6G, and 5G in India and a host of other countries, according to sources familiar with the developments.

Ericsson maps out India's 5G dominance over the US

Swedish telecommunications (telecom) gear maker Ericsson has announced that India will soon outdo the US in the number of 5G fixed wireless access (FWA) broadband subscriber homes, potentially reaching over 85-100 million by 2030.

80% data traffic growth from select few

Despite data traffic rising 50 per cent annually in India, 80 per cent of it originates from two to three large traffic generators (LTGs), a trend which is not sustainable, MATS GRANRYD, Director General of global mobile industry body GSM Association (GSMA), tells Subhayan Chakraborty in an interview in New Delhi. Edited excerpts:

Samsung equipment to replace Vi's Chinese 5G gear in 6-7 circles

Vodafone Idea's (Vi's) latest order of network equipment from new partner Samsung will lead to 5G gear deployment in its six to seven telecom circles where the telco has existing gear installed from Chinese equipment makers Huawei and ZTE, Chief Technology Officer (CTO) Jagbir Singh told Business Standard.

BlackRock, JioFin Services may set up private credit venture in India

BlackRock, the world's largest asset manager, is in talks with Mukesh Ambani's Jio Financial Services to set up a private credit venture, aiming to tap the expanding direct lending opportunities in India, according to people familiar with the matter.

Trai to consider all inputs for satellite spectrum: Chair

Indicates existing consultation paper won't be retracted

Pvt life insurers mull new model for commission

Clawback, deferral, or reduction in payouts on the cards for distributors

Trade deficit eased in Sep to 5-month low

India's merchandise trade deficit narrowed to a five-month low of $20.78 billion in September as imports grew at the slowest pace in six months and exports rose marginally after two months of decline, the official data showed on Wednesday.

Too early for businesses to say cracker of a Diwali

With just a fortnight to go for Diwali, the countdown has begun for the biggest shopping season in the country. But the mood is still not quite upbeat.

States for compensation cess merger with 28% GST slab

State FMs suggest no new item in lists of luxury, sin, and demerit goods until transition

Specialised skills to drive 20-25% growth in IT fresher hiring

Fresher hiring, which has been subdued as Indian information technology (IT) services firms scaled back their recruitment, is set for a turnaround. The IT sector's fresher hiring is expected to rise by 20-25 per cent for 2024-25 (FY25).

7 flights get bomb threats in 24 hours

Seven flights, including one bound for the US, received bomb threats through a social media handle on Tuesday, prompting security agencies to undertake specific counter-terrorist drills at various airports.

Avaada Energy closes ₹597 crore refinancing for its solar projects

Avaada Energy, an arm of Avaada Group, said it has closed approximately ₹597 crore ($71.1 Million) in refinancing for its commercial and industrial (C&I) solar projects in the states of Karnataka and Maharashtra.

IBM acquires SaaS firm Prescinto

Tech giant IBM said it has acquired Bengaluru-headquartered Prescinto, a leading provider of asset performance management software-as-a-service (SaaS) for renewables.

DGCA removes 'enhanced surveillance' on SpiceJet

The Directorate General of Civil Aviation (DGCA) on Tuesday removed SpiceJet from \"enhanced surveillance\" after the airline successfully raised ₹3,000 crore through a qualified institutional placement (QIP) process. The regulator will continue to conduct random spot checks of SpiceJet's operational aircraft to ensure safety.

PVR Inox to find its comeback role in Q4, says CFO

PVR Inox, India's largest film exhibitor, is banking on the anticipated success of its lineup of multi-starrer movies, including Singham Again, Bhool Bhulaiyaa 3, and Pushpa 2: The Rule (the Allu Arjun starrer will be released in five languages), to restore profitability.

HCLTech shares hit new high on solid Q2 results

Brokerages bullish on stock, raise EPS target

Framework for Cloud-driven AI needed: Jio exec

A general framework prioritising cloud-driven artificial intelligence (AI) and storing data in the country will be needed to fully utilise the potential of AI in India, according to a top Reliance Jio executive.

IndiGo gets Sebi nod to launch VC fund

India's largest airline IndiGo on Tuesday said that its corporate venture capital fund - IndiGo Ventures - has received approval from Securities and Exchange Board of India (Sebi).

Don't mistake pullback in equities for bear market

As India Inc prepares to report its performance for the second quarter of 2024-25 (Q2FY25), market movement, going ahead, will likely depend primarily on earnings growth, said VINIT SAMBRE, head-equities, DSP Mutual Fund, in an email interaction with Shivam Tyagi. Edited excerpts:

Sentiment positive for OMCs amid lower oil prices, marketing margins

Geopolitics is impacting the energy sector with crude oil prices falling below $70/barrel (bbl) last month for the first time since December 2021. And, gross refining margins (GRMs) have collapsed to $2/bbl, due to weak demand from China.

Rajnath inaugurates high-tech communication station for subs

The battleworthiness of the Indian Navy's submarine fleet got a substantial boost on Tuesday when Defence Minister Rajnath Singh inaugurated its new communication station in Vikarabad, Telangana.