Business Standard - December 23, 2024

In this issue

December 23, 2024

From Y2K springboard to AI wave

With 2024, the first quarter of this century comes to a close. This series looks at India's progress over the past 25 years and future directions. The first part highlights the country's IT expertise, which became a talking point globally as the millennium began

6 mins

CGST Act set to see key amendments in Budget session

FinMin says some changes may take effect from April

2 mins

Every fifth scooter may be electric in FY26

Companies' confidence driven by growing network, new models

2 mins

Amazon, Flipkart face qcom hurdle

GROWING BUSINESS

3 mins

Sterling and Wilson bags ₹1.2K cr solar EPC order in Gujarat

Sterling and Wilson Renewable Energy secured a ₹1,200 crore order for a 500-megawatt (Mw) solar photovoltaic (PV) project in Gujarat, expanding its presence in India's renewable energy market.

1 min

PVs, 2Ws drive robust auto export growth this year

EVs, low-cost production fuel global ambition as India eyes 50% export target

3 mins

Health care, pharma IPOs raise ₹14,811 cr

Domestic demand, better global opportunities drive initial share sales

1 min

Our India centre drives innovation in robotics, analytics & automation

SREEKANTH JAYABALAN, vice-president (V-P), transformation officer and V-P in charge of the Global Digital Technology Centre (GDTC) at Kimberly-Clark, said the India centre in Bengaluru is the growth engine for the company's global strategy. Known for brands like Huggies and Kleenex, Kimberly-Clark closed 2023 with over $20.4 billion in net sales. In a video interview with Peerzada Abrar, Jayabalan shares plans to scale up the GDTC's capacity and capabilities. Edited excerpts:

2 mins

Tata's Taneira to expand footprint, stitch up mkt share

The Titan Company's ethnic wear brand, Taneira, plans to increase its market share to high single digits within the next three years by expanding its product range and offering value-focused products in Tier-I and metro cities.

2 mins

Four OEMs line up to make e-ambulances

Four major original equipment manufacturers (OEMs), including Force Motors, Maruti Suzuki, Mahindra & Mahindra, and Switch Mobility, have expressed interest in developing electric ambulances (e-ambulance) under the PM Electric Drive Revolution in Innovative Vehicle Enhancement (PM E-DRIVE) Scheme.

2 mins

VC investments hit $16.7 billion this yr powered by tech sector

Venture capital (VC) activity in India between January and November 2024 recorded a total value of $16.77 billion across 888 deals, a 14.1 percent increase in value and a 21.8 percent rise in deal count compared with $14.69 billion across 729 deals during the same period in 2023, according to Bloomberg data.

2 mins

Semiconductor startup Mindgrove Technologies raises $8 mn

Mindgrove Technologies, a fabless semiconductor design startup, said that it has raised $8 million in a Series A funding round.

1 min

Sprint towards 500 Gw of green energy goal

India's power sector is prioritizing climate-transition goals, where a supportive ecosystem of energy storage, transmission connectivity and supply chain is now being created holistically.

1 min

Many newcomers to UPI party but top 2's share remains intact

20 third-party apps got nod in 2024, most since UPI launch

2 mins

Separate GST rate for caramelised popcorn draws economists' ire

FM said items with added sugar have even higher GST

2 mins

Solar power producers denied import duty deferral

The government, through a notification issued under Section 65(1) of the Customs Act, 1962 (CA 62), has prospectively legitimised the administrative bar on import, without payment of customs duties under the scheme for manufacture in a bonded warehouse, of goods for solar power generation projects which supply electricity.

2 mins

Oil & gas CPSEs may top IEBR capex target in FY25

More than 145 projects worth ₹100 crore and above under implementation

1 min

Retail prices of 65 new drugs fixed

The National Pharmaceutical Pricing Authority (NPPA) has fixed retail prices for 65 new drug formulations and notified ceiling price fixation of 13 formulations.

2 mins

NPS Vatsalya onboards 75K people since Sep launch

The National Pension Scheme (NPS) is trying to make itself accessible to individuals of all ages and its recently-launched NPS Vatsalya, for minors to secure their future, is making good progress as it has onboarded 75,000 people since its launch in September this year, Pension Fund Regulatory and Development Authority (PFRDA) Chairman Deepak Mohanty said on Saturday.

1 min

Ahead of Budget, CII calls for reforms in PSL framework

The Confederation of Indian Industry (CII) has proposed significant reforms to India's priority sector lending (PSL) framework and suggested the inclusion of emerging and high-growth sectors like green initiatives and digital infrastructure to make it more aligned with the country's long-term developmental goals and evolving economic priorities.

1 min

Yields on AAA-rated corporate bonds trail SDLs in long tenors

State bond yields have been trading higher than AAA-rated public sector undertaking (PSU) bonds for maturities of 10 years and beyond, data showed.

2 mins

Thinking unmet

The Himachal Pradesh chief minister came with an array of ideas two years ago. But inaction on administration has been a hobbling factor, writes ADITI PHADNIS

2 mins

We tried to close door that caused corruption

In a telephonic interview with Aditi Phadnis, Himachal Pradesh Chief Minister SUKHVINDER SUKHU talks of rationalising power prices and subsidising the purchase of milk through sales of alcoholic products. He says the state's finances are back on track. Edited excerpts.

3 mins

Reimagining land-pooling amid ground realities

Madhya Pradesh's BJP government is revising its land-pooling policy, inspired by Gujarat, to boost industrial investment, benefit farmers, and address concerns over bypassing LARR's safeguards amid land-related conflicts. SANJEEB MUKHERJEE explains the issue

3 mins

Cease-and-desist order against Google in Japan on the cards

Japan's competition watchdog is expected to find Google guilty of violating the country's antitrust law, Nikkei Asia reported on Sunday, citing sources.

1 min

Iran's regime in 'dire straits' as it faces energy crisis

Industries are forced to shut down due to the grim situation

2 mins

Emerging mkts battle a surging greenback

From Brazil to South Korea, emerging-market central banks are forming a line of defence as a rising dollar pushes their currencies to multi-year lows.

2 mins

Deception and betrayal: Inside the final days of Assad regime

As rebels advanced toward the Syrian capital of Damascus on December 7, the staff in the hilltop Presidential Palace prepared for a speech they hoped would lead to a peaceful end to the 13-year civil war.

2 mins

German authorities received tipoffs last year about suspect

German authorities said they received tipoffs last year about the suspect in a car attack at a Christmas market in Magdeburg as more details emerged on Sunday about the five people killed.

1 min

Trump threatens to retake control of Panama Canal

US President-elect demands lower transit fees

1 min

Unsafe environment

India's factory floors remain hazardous

2 mins

Envisioning an India-US FTA

There is a window of opportunity to deepen the relationship

4 mins

For another day

Popcorn tax underscores the complexity of GST

2 mins

Hong Kong's billionaire dissident

On the morning of August 10, 2020, scores of armed police arrived at the headquarters of Apple Daily, one of Hong Kong's most prominent pro-democracy newspapers.

3 mins

Mission on oilseeds needs more zeal

The government's recent decision to set up a National Mission on Edible Oils and Oilseeds to achieve self-reliance in edible oils in the next seven years does not inspire enough confidence in meeting the hitherto elusive objective.

3 mins

'Shift to 12-13% growth will create a selective market'

Corporate India is transitioning from a period of exceptional earnings growth exceeding 25 per cent over the past two to three years to a more sustainable growth trajectory of 12-13 per cent over the next few years, says VINIT SAMBRE, head - equities at DSP Mutual Fund (MF). In an interview with Abhishek Kumar in Mumbai, Sambre explains how this shift will likely create a more selective market environment. Edited excerpts:

3 mins

CATCH OF THE DAY: PE/VC FUNDS REEL IN ₹1.13 TRILLION IN SHARE SALES

Net big from small and midcap exits

1 min

Nifty's Jenga stack shakes, 22,000 levels could topple it

Tests 50-WMA—a level not breached since March 2023—after 200-DMA fall on Friday

1 min

Capital's great takeoff: Soaring to Washington's dollar sky

Domestic markets faced turbulence last week, with the S&P BSE Sensex falling by 5 per cent, marking its worst weekly decline since June 2022.

1 min

Outrunning the herd: A fund that defies the ordinary

[FUND PICK] ICICI PRUDENTIAL BLUECHIP FUND

2 mins

Buyer entitled to market value if flat is resold

Subhash Ramjang Chourasiya booked a flat in a building to be called Sai Palace, which was to be constructed by Sai Krupa Builders at Village Goddev in Mira Road (East), located in Maharashtra's Thane District.

2 mins

Boost term cover with rising income and liabilities

Increase health cover to tackle rising medical costs; consider super-topup and critical illness plan

3 mins

INDIAN TECH STARTUP SCENE IN 2024: MORE UNICORNS, MORE EXITS

India's technology startup ecosystem got six new unicorns in 2024. There were two last year. The new unicorns – startups reaching $1 billion valuation – specialise in lending, logistics, software and generative intelligence.

1 min

How agentic AI will work for the world on its own

A new era in artificial intelligence (AI) is underway. In a few months, evolved versions of the technology will emerge and find mainstream applications.

2 mins

'Cloud and AI will become synonymous in 2025'

JO DEBECKER, managing partner and global head of Wipro FullStride Cloud, believes that a combination of Cloud services and artificial intelligence (AI) will become the \"foundation\" for the success of enterprises. The processing power and data needed to build and train AI models come from Cloud. Debecker, in a video interview with Shivani Shinde, spoke about the two technologies and how Wipro is preparing to be an AI-powered firm. Edited excerpts:

3 mins

Startups chart new course in space

Indian companies make a mark in downstream sector that uses space data for practical applications, reports SHINE JACOB

3 mins

Looking back at 2024

The overarching theme of this year has been the RBI's new approach to vigilance

5 mins

TIFF OVER TARIFF

Trump is talking tariffs once again. What does that mean for Indian exports?

4 mins

Isro to study how crops grow in space

Demonstration of seed germination in outer space, a robotic arm to catch tethered debris there, and testing of green propulsion systems are some of the experiments planned on the POEM-4—the fourth stage of Isro's PSLV rocket that remains in orbit after launching a satellite.

1 min

Hotels expect further rise in room rates next year

After hotel room rates hit record highs in 2024, they are set to rise further in 2025 driven by a surge in demand of 7-8 per cent across segments.

2 mins

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