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By Manoj Kumar NEW DELHI (Reuters) – India should consider lowering the 18% tax imposed on recruitment agencies for providing outsourced staff to big companies, an industry body said on Thursday, which could help boost employment and wages of contract workers. The Indian Staffing Federation (ISF), a body of 125 recruitment agencies which provided 1.6 …

India needs lower tax on recruitment services to boost jobs, says industry body Read More »

BENGALURU (Reuters) – Page Industries, which licenses Jockey International’s products in India, reported smaller-than-expected profit and revenue on Thursday, hurt by high inventory costs and subdued demand. The company, which manufactures and distributes innerwear, sportswear and athleisure for the brand, reported a profit of 1.08 billion rupees ($13 million) for the quarter ended March 31, …

Jockey’s India licensee posts Q4 earnings miss on high inventory costs, muted demand Read More »

By Haripriya Suresh BENGALURU (Reuters) – India’s No.4 IT services firm Wipro paid $20.1 million in annual compensation to former CEO Thierry Delaporte who resigned in April, well before his five-year term was set to end in July 2025. The Frenchman’s compensation included $3.9 million in salary and allowances, about $5.1 million in variable pay, …

Former Wipro CEO Delaporte earned $20 million in last year at helm Read More »

By Chris Thomas and Priyanshu Singh NEW DELHI (Reuters) – Working on a highway project in one of India’s hottest areas this summer, Banwari Singh handles iron bars that he says often turn “red hot”. Temperatures hit 47.8 degrees Celsius (118 degrees Fahrenheit) last Sunday, among the highest recorded in India this year, in Najafgarh, …

In India’s heat, Delhi labourers toil in ‘red hot’ conditions Read More »

By Devayani Sathyan BENGALURU (Reuters) – India’s benchmark indices will hit new highs by end-2024, according to a Reuters poll of equity analysts who have upgraded their outlook from three months ago, as retail investors plough money into one of the world’s most expensive stock markets. Despite growing concerns that India’s equity markets are overvalued, …

Indian stocks to scale new peaks, rising over 8% this year – Reuters poll Read More »

NEW DELHI (Reuters) – India’s election panel on Wednesday ordered the ruling Bharatiya Janata Party and opposition Congress to exercise restraint in their campaigns, after both had reported the other for making divisive speeches during India’s vote. The panel said the parties’ defences for the speeches by Prime Minister Narendra Modi and Congress leader Rahul …

India’s poll panel orders Modi’s BJP, opposition Congress to show restraint in campaign Read More »

HYDERABAD (Reuters) -Indian drugmaker Sun Pharmaceutical Industries posted fourth-quarter profit above estimates on Wednesday, helped by strong performance in its key U.S. and domestic markets. The company reported a consolidated net profit of 26.55 billion rupees ($318.9 million) for the quarter ended March 31, compared to analysts’ average estimate of 23.68 billion rupees as per …

India’s Sun Pharma beats Q4 profit view on strong US, domestic sales Read More »

By Rajendra Jadhav MUMBAI (Reuters) – India’s gold imports in 2024 could fall by nearly a fifth from the previous year, as record high prices spur retail consumers to exchange old jewellery for new items, the head of an industry body told Reuters. Lower imports by India, the world’s second biggest consumer of the precious …

India’s gold imports seen falling as record price prompts jewellery swaps Read More »