By Nikunj Ohri NEW DELHI (Reuters) -India’s government on Tuesday said it would impose a 28% tax on funds that online gaming companies collect from their customers, in a blow to the $1.5 billion industry that has surged in popularity and attracted foreign investment. Finance Minister Nirmala Sitharaman said the decision to impose tax on …
India deals blow to online gaming industry with 28% tax Read More »
NEW DELHI (Reuters) – India’s Goods and Services Tax (GST) Council said that uniform taxation would be levied on multi utility vehicles and sports utility vehicles, according to a statement. The body, chaired by India’s Finance Minister Nirmala Sitharaman and comprised of state finance ministers, decided all large cars, by whatever name they are called, …
India’s GST Council decides uniform taxation for utility vehicles Read More »
NEW DELHI (Reuters) – India is demanding higher standards from small and medium-sized drugmakers, the health minister said on Tuesday, in a bid to improve product quality after Indian-made cough syrups were linked to deaths of children overseas. India’s image as the “pharmacy of the world”, offering cheaper alternatives to Western products, took a hit …
India demands higher manufacturing standards from small drugmakers Read More »
By Yimou Lee, Ben Blanchard and Dhwani Pandya TAIPEI/MUMBAI (Reuters) – Foxconn said it intends to apply for incentives under India’s semiconductor production plan, a day after the Taiwanese firm split with Vedanta on a $19.5 billion chipmaking joint venture. Foxconn withdrew from the JV with the Indian metals-to-oil conglomerate on Monday, in a setback …
Foxconn targets India’s chip scheme after pulling plug on $19.5 billion JV Read More »
By Yimou Lee TAIPEI (Reuters) -The Indian government and Foxconn had concerns over the financial situation of Vedanta, which led to the Taiwanese company parting ways with Vedanta on a chipmaking joint venture, sources familiar with the information told Reuters. Indian conglomerate Vedanta Ltd’s London-based parent, Vedanta Resources, has been plagued by a rising debt …
India, Foxconn’s worries over Vedanta’s financials led to JV pullout – sources Read More »
NEW DELHI (Reuters) – India’s state ministers have raised concerns over the inclusion of goods and services tax’s (GST) information technology network under the country’s money laundering act, a minister in Delhi’s city government told reporters on Tuesday. The inclusion could result in small businesses being investigated by the country’s financial crime agency for GST …
Indian state ministers concerned over including GST IT network in money laundering act Read More »
(Reuters) – India’s Ministry of Corporate Affairs has ordered an inspection into the account books of embattled edtech startup Byju’s, Bloomberg reported on Tuesday. The ministry has sought a report in six weeks, the report said, citing people familiar with the matter. (Reporting by Jyoti Narayan in Bengaluru; Editing by Dhanya Ann Thoppil)
By Rajendra Jadhav SATARA/SANGLI/SOLAPUR, India (Reuters) – Sugarcane growers in India’s top producing states are worried scanty rainfall during the crop’s crucial growth period could trim yields and reduce sugar output in the upcoming season, farmers and industry sources told Reuters. Lower sugar production in Maharashtra and Karnataka, which together account for more than half …
Scanty rains diminish India’s sugar output, export prospects Read More »
By Tanvi Mehta NEW DELHI (Reuters) – Taiwan’s Foxconn has decided to withdraw from a $19.5 billion semiconductor joint venture with Vedanta, the latest business challenge for the Indian conglomerate led by Chairman Anil Agarwal. Here are some details on Vedanta and its recent challenges: HOW VEDANTA STARTED Anil Agarwal started his business in Mumbai …
Factbox-Troubles of Indian tycoon Anil Agarwal’s Vedanta mount as Foxconn ditches JV Read More »
By Ashitha Shivaprasad (Reuters) – Gold was little changed on Monday as investors awaited U.S. inflation data that could influence the Federal Reserve’s policy stance, while palladium prices dropped below the $1,200-per-ounce level for the first time since December 2018. Spot gold was steady at $1,923.59 per ounce by 10:10 a.m. EDT (1410 GMT). U.S. …
Gold steady as traders await US inflation data; palladium slides Read More »
