Business

21 May

A 43-year-old Indian Businessman Won USD One Million In The Dubai.

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A 43-year-old Indian businessman won USD one million in the Dubai Duty Free draw.Rajan Kurian, who owns a construction business in Kerala, had bought the ticket online, the Khaleej Times reported on Wednesday.Mr Kurian said he was grateful for the win, considering the gloomy circumstances prevailing in the world due to the coronavirus pandemic.

12 May

The Trade Ministry Is Proposing A Tax Holiday For Companies Bringing New Investments.

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The trade ministry is proposing a tax holiday for companies bringing new investments as the government explores measures to support the economy amid the coronavirus pandemic, according to people familiar with the matter. The proposal to give a 10-year full tax exemption to companies making new investment upwards of $500 million is being evaluated by the finance ministry, said the people, who asked not to be identified citing rules. The plan requires companies to start operations within three years from June 1, and will cover sectors including medical devices, electronics, telecom equipment and capital goods, they said.

11 May

COD Banned In Ahmedabad.

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All home delivery and retail companies in Ahmedabad will have to accept payments for their goods and services via online payment platforms starting May 15, a senior Gujarat official said in an order on Monday, adding cash-on-delivery is banned. The decision was taken to check the growth of the virus in one of the worst-hit cities in the country."As an abundant caution to prevent corona spread though currency notes, it has been made mandatory to accept digital mode of payments through unified payment interface (UPI) and other platforms. Thus, home delivery has been made mandatorily cashless (COD-Cash On Delivery not…

10 May

India begins transporting essential commodities to Bangladesh by railways

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India began transporting essential commodities by railways, weeks after bilateral trade was hampered due to the coronavirus pandemic. "To ensure the supply of essential commodities to Bangladesh, measures have been taken to transport the essential commodities through the existing rail links between India and Bangladesh," said the Indian High Commission in a press statement today. The first freight train loaded with onions was handed over by Indian Railways to Bangladesh Railways at the Gede (India) - Darsana (Bangladesh) interchange point on May 9, 2020, it added. After customs clearance, the train consisting of 42 covered wagons loaded with onions will…

05 May

Price Hike Doesn’t Stop Delhi Liquor Buyers.

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Hundreds of people lined up outside liquor shops in Delhi today, for the second consecutive day, after they re-opened following a nearly 40-day dry spell because of the coronavirus lockdown. Despite a 70 per cent increase in liquor prices in the capital, large crowds, of mostly men, were seen in snaking queues or jostling restlessly from before sunrise, without following social distancing guidelines.In some places, the police used lathis to control the crowds. A man outside a liquor shop in east Delhi's Krishna Nagar, where the cops lathi-charged the people in the mile-long queues, said he had been waiting outside…

05 May

India Is Developing A Land Pool Nearly Double The Size Of Luxembourg To Lure Businesses Moving Out Of China.

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India is developing a land pool nearly double the size of Luxembourg to lure businesses moving out of China, according to people with knowledge of the matter.A total area of 461,589 hectares has been identified across the country for the purpose, the people said, asking not to be identified because they aren't authorized to speak to the media. That includes 115,131 hectares of existing industrial land in states such as Gujarat, Maharashtra, Tamil Nadu and Andhra Pradesh, they said. Luxembourg is spread across 243,000 hectares, according to the World Bank.Land has been one of the biggest impediments for companies looking…

03 May

Maharashtra Has Allowed Standalone Liquor Shops In High-Risk Red Zones Outside Containment Areas.

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Days after the centre released guidelines for the coronavirus lockdown's third phase, Maharashtra, the worst-hit state in the country, has allowed standalone liquor shops in high-risk Red zones outside containment areas."Even in the Red zone districts, there are some areas where coronavirus infection has been not prevalent since over a month now. These areas are known as non-containment zones," Bhushan Gagrani, Maharashtra Principal Secretary, told reporters."Such non-containment areas will have some relaxations, wherein the shops selling non-essential commodities, like clothes, footwear, liquor, stationery, among others will be opened," he added.

02 May

RBI Chief Talks With The Heads Of Banks Comes A Day After The Government Extended A 40-Day Nationwide Lockdown.

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Reserve Bank of India (RBI) Governor Shaktikanta Das held meetings with heads of major public and private sector lenders through video conferencing on Saturday and discussed the current economic situation in the country. The RBI chief's talks with the heads of banks comes a day after the government extended a 40-day nationwide lockdown to curb the spread of the coronavirus (COVID-19) pandemic.Mr Das praised the efforts of banks "in ensuring normal to near normal operations" during the coronavirus-induced lockdown.The RBI chief also discussed the credit flows to different sectors of the economy, including non-banking financial companies (NBFCs), microfinance institutions, housing…

02 May

The Delhi Government Has Started The Process Of Allowing Standalone Liquor Shops To Reopen.

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The Delhi government has started the process of allowing standalone liquor shops to reopen in the national capital, a coronavirus "red zone", from May 3 after the centre extended the lockdown by two more weeks.The Home Ministry has said that except in containment areas, standalone liquor shops can open in all zones, including "green", where there are no coronavirus cases, and medium-risk "orange" areas.The Delhi government has asked all liquor shops run by its departments such as DTTDC, the tourism wing of the national capital, to give details about standalone shops that are eligible to reopen.

01 May

Six States Have Passed Laws Extending Working Hours From The Currently Mandated 8 Hours Per Day To 12 Hours Per Day.

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As the second stage of the coronavirus lockdown is scheduled to end, millions of workers face the prospect of returning to longer working hours. At last count, at least six states have passed laws extending working hours from the currently mandated 8 hours per day to 12 hours per day.The aim, say the governments, is to ensure that companies can operate with fewer workers and reduce the number of shifts, while meeting targets.The Rajasthan government, which passed the notification on April 11 extending working hours for three months, says this would allow firms to run operations for six days with…