Business Standard - January 10, 2025

In this issue

January 10, 2025

Import stats for gold, silver, electronics lowered for Apr-Nov

The central government has revised downwards the import data for precious metals such as gold and silver by $11.69 billion and $950 million, respectively, during the first eight months of the financial year (2024-25), Directorate General of Commercial Intelligence and Statistics (DGCI&S) data showed.

2 mins

Now playing: The making of one cinema market

In 2024, Indians bought 883 million movie tickets, 6 per cent fewer than in the previous year.

3 mins

Recovery agents in demand as banks' unsecured loan stress rises

Between Jul and Dec, number of such agents grew by almost 50%

2 mins

TCS Q3 Net Profit Jumps 12%, Misses Estimates

IT behemoth's revenue swells 5.6%; North America remains a drag

3 mins

One-time Customs amnesty scheme likely in Budget

The Union government is considering introducing a one-time amnesty scheme in the FY26 Budget to be presented on February 1, similar to the Vivad Se Vishwas scheme for income tax, to resolve pending Customs disputes, a senior government official said on condition of anonymity.

2 mins

Ticket prices may make 2025 a hit after dud 2024

Pushpa 2: The Rule broke box-office (BO) records not only due to Allu Arjun reprising his role as Pushpa Raj but also because of a surge in the movie's average ticket price (ATP).

2 mins

Rupee volatility likely to drive imported car prices off course

Luxury car sales touched 51K units for first time in '24

3 mins

'When movies connect, they go to another level'

At 1,745 screens, PVR Inox is the largest multiplex chain in India. But the ₹6,200 crore (2023-24 revenue) chain has seen its stock being hammered in the market. The buzz is that the cinema business is in trouble. Its managing director, AJAY BIJLI, in a quick chat with Vanita Kohli-Khandekar, talks about the state of the movie business and his prognosis for 2025. Edited excerpts:

2 mins

Fall in ₹, Win Some, Lose Some for Auto Industry

While exporters benefit, import-dependent firms expected to struggle

2 mins

Bank officers' union calls for two-day nationwide strike on February 24-25

The All India Bank Officers' Confederation (AIBOC) on Thursday announced a two-day nationwide strike, tentatively scheduled for February 24 and 25, in response to pressing concerns affecting its members and the broader banking industry.

1 min

Sovereign AI: A strategic imperative for the coming wave

The age of artificial intelligence (AI) is here, with AI representing a major strategic opportunity and a national security imperative.

5 mins

E-way bill generation rebounds in Dec

E-way bills, or electronic permits generated by businesses for transporting goods within and across states, touched the second-highest level in December in 24 months, growing 17.6 per cent year-on-year to reach 112 million, according to data released by Goods and Services Tax Network portal.

1 min

Tuhin Pandey takes charge as revenue secy

Replaces Arunish Chawla, who was appointed to the post on Dec 25

1 min

CEASE & DESIST

RBI's quick shift on NBFC curbs

1 min

For ARCs Eyeing MFI Loans, Price Matters

With increasing stress in the microfinance institution (MFI) segment and banks looking to offload non-performing portfolios, asset reconstruction companies (ARCs) believe these assets hold limited value.

2 mins

India Ratings rules out corporate capex recovery in FY26

India Ratings on Thursday said that any broad-based or strong recovery in corporate capital expenditure was unlikely in the upcoming financial year 2026 (FY26) due to uncertainty of domestic and external demand.

1 min

India's economy may grow 6.6% in 2025, 6.7% in 2026: UN report

The Indian economy is expected to grow by 6.6 per cent in 2025 and 6.7 per cent in 2026, supported by solid private consumption and investment growth, according to the United Nations (UN) flagship report, World Economic Situation and Prospects 2025, released on Thursday.

1 min

DPIIT calls for suggestions to boost FDI

The Central government has asked industry associations, legal players and regulatory representatives to suggest ways to further improve the business climate for overseas investors to boost the flow of foreign direct investment (FDI)—which has been on a decline for the last three years.

1 min

Meity seeks 10K GPUs, receives offer for 20K

The Ministry of Electronics and Information and Technology (Meity) has received offers for 20,000 graphics processing units (GPUs) from companies that bid under the ₹10,370 crore IndiaAI Mission—nearly double of what it is seeking through a request for empanelling companies.

1 min

MoD to reform procurement policy within a year, says defence secretary

India's defence procurement policy, criticised for delays and inefficiencies, will be reformed within six months to a year, Defence Secretary Rajesh Kumar Singh on Tuesday said.

1 min

EPFO Set To Introduce Self-Attestation Facility

Move to do away with the need for nod of employers' to complete KYC

1 min

PhonePe to offer Maha Kumbh Mela insurance

PhonePe on Thursday announced a partnership with ICICI Lombard General Insurance to offer insurance coverage for people travelling to MahaKumbh Mela.

1 min

Alcobev Majors Seek Payment of $466 Million Dues from Telangana

Global alcohol companies such as Diageo, Pernod Ricard, and Carlsberg are demanding unpaid dues of about $466 million from Telangana state, where Heineken suspended supplies this week in an unprecedented move, three industry sources said.

1 min

Interest coverage ratio of unlisted cos at 30-yr high

Uptick in FY24 mirrors similar trend in the listed space

2 mins

Emami rebrands products in India

'Fair and Handsome' now 'Smart and Handsome'; brand size may rise to ₹1K cr

1 min

TCS Headcount Down by Over 5K

Attrition rose 13%, promoted 25,000 in Q3

1 min

WHERE INNOVATION MEETS SUSTAINABILITY

As electrification, sustainable practices, and localization take center stage, the Bharat Mobility Global Expo 2025, highlights India's growing role as a global automotive manufacturing hub, driving innovation and environmental responsibility, writes Garima Dutt

5 mins

India's Auto Component Sector: Driving Toward a Global Future

The Indian automotive component industry is experiencing a profound transformation, driven by innovation, sustainability, and government incentives such as the Production Linked Incentive (PLI) scheme.

3 mins

SUSTAINABILITY AT THE WHEEL: India's Green Shift in the Automotive Sector

India's automotive sector is embracing sustainability through electric vehicles, smart manufacturing, and eco-friendly innovations. Supported by policy initiatives and advanced technologies, the shift positions India as a global leader in green mobility

3 mins

Accelerating Localization: India's Auto Component Industry and the 'Make in India' Push

The COVID-19 pandemic underscored the vulnerabilities of global supply chains, prompting Indian manufacturers to shift focus from global sourcing to regional suppliers.

3 mins

Tory bid to force probe into 'grooming gangs' fails

The UK's opposition Conservative Party Tory tried and failed to force Prime Minister Keir Starmer into holding a national inquiry into a scandal surrounding so-called child grooming gangs.

1 min

China retail inflation fell to nearly zero in Dec despite stimulus

China's consumer inflation weakened further toward zero, decelerating for a fourth straight month in a setback for government efforts to stamp out deflation and revive demand by injecting stimulus into the economy.

1 min

AI May Kill 200K Jobs at Global Banks

Global banks are expected to cut as many as 200,000 jobs in the next three to five years as artificial intelligence encroaches on tasks currently carried out by human workers, according to Bloomberg Intelligence.

1 min

Musk, allies plan to 'oust' Starmer as British PM

Billionaire Elon Musk has held private discussions with allies about removing British Prime Minister Keir Starmer from his position before the next general election, the Financial Times reported on Thursday.

1 min

US report warns of risks from online pharmacies

China's consumer inflation weakened further toward zero, decelerating for a fourth straight month in a setback for government efforts to stamp out deflation and revive demand by injecting stimulus into the economy.

2 mins

Local, not global

Indian brands are rare in foreign marketplaces

2 mins

A mensch from Ludhiana

The name Kundanlal doesn't figure on the list of \"Righteous among the Nations\", the Holocaust Memorial's designation for those who helped victims of the Third Reich's Final Solution.

4 mins

Amplifying misinformation

Meta's decision will harm public interest

2 mins

Budgeting in the time of Trump

For the uncertain times ahead, the Budget must balance growth, jobs, and governance—and the recipe is distinctly unglamorous

4 mins

2025: India's Tech Transformation Year

In 2025, India will reach two key milestones—becoming a $4 trillion economy and surpassing Japan to become the fourth-largest globally.

3 mins

The Great Indian Poverty Debate - Act I, Scene 2

The release of the 2023-24 household consumer expenditure survey fact sheet and its use to derive fresh poverty estimates have opened a new scene in the poverty debate

6 mins

A milestone': Modi unveils genome data of 10K Indians

Prime Minister Narendra Modi on Thursday announced the completion of the Genome India Project, describing it as an \"important milestone in the biotechnology revolution\" in the country, and unveiled the sequencing database of 10,000 Indians.

1 min

Climate Change May Cut Wheat, Rice Yields by Up to 10%, Warn Officials

India's rice and wheat output is projected to dip by 6-10 per cent due to climate change, impacting access to affordable food for millions, senior officials have said.

1 min

Telcos seek easing of 'quality of service' norms

In place since Oct last year, stringent mandates are needed for transparency, locating poor connectivity areas: Trai

2 mins

L&T chairman suggests 90-hr work week

Larsen & Toubro (L&T) Chairman S N Subrahmanyan (pictured) sparked an online outrage with his comments advocating a 90-hour work week and suggesting that employees should even give up Sundays.

1 min

Adani Group to Raise ₹7,148 Cr From Stake Sale in Wilmar JV

The Adani group will raise ₹7,148 crore from sale of up to 20 per cent stake in FMCG firm Adani Wilmar in the open market as part of its strategy to exit non-core activities to focus on infrastructure business.

1 min

Sensex, Nifty decline amid FPI selling, Q3 earnings concerns

Indian equity benchmarks declined on Thursday as heavy foreign portfolio investor (FPI) selling and concerns over the December quarter earnings continued to dent sentiment.

1 min

Fundraising via equity, debt touched fresh high in 2024

Fundraising by Indian corporates through equity and debt reached a fresh high in the calendar year 2024, according to primedatabase.com.

2 mins

MFs Cap Strong 2024 With Robust Dec

Equity mutual funds (MF) capped a strong 2024 with near-fresh-high inflows in December.

1 min

₹ ends flat after intraday low of 85.94 against $

The rupee on Thursday slipped to 85.94 against the dollar intraday, a fresh low, before recovering some losses to close the day at 85.86, flat compared to Wednesday's closing.

1 min

Arpu gains, dividend likely to be triggers for Bharti Airtel

The telecom industry may be moving into a new phase.

3 mins

Weak 02C biz may drag earnings for RIL again

Company's Ebitda may remain flat or decline marginally, say analysts

2 mins

Read all stories from Business Standard

Business Standard Newspaper Description:

Business Standard is India's leading business daily.
A preferred choice of serious business readers, Business Standard is acknowledged as a quality leader.

Business Standard stands for reporting that stresses accuracy and credibility, commentary that is informed, independent and fair, and journalism that is rooted in ethical conduct and defined by a sacrosanct bond with the reader. All Business Standard journalists sign on to a code of conduct that is available on the website.

Business Standard's editorial team is led by Shyamal Majumdar.

The English newspaper is published from 12 centers - New Delhi, Mumbai, Kolkata, Bengaluru, Chennai, Ahmedabad, Hyderabad, Chandigarh, Lucknow, Pune, Kochi and Bhubaneswar. It is also printed from Bhopal.

The Hindi Business Standard is published from eight centres - New Delhi, Mumbai, Kolkata, Patna, Lucknow, Bhopal, Chandigarh and Raipur.