Business

5 Indian cities to buy best handloom sarees


India’s rich cultural heritage is the reason why the country has a history of handlooms. Every corner of India speaks for its own weaving and draping style. We have about 60 kinds of weaving patterns originating from rural India alone. There is a range of quintessential Indian handloom beyond the usual gota-patti, half-saris, embellished...

Arvind Krishna joins elite Indian-origin CEOs’ club, IBMers ecstatic


New Delhi: Arvind Krishna, the newly-appointed CEO of the world's oldest technology company IBM, has joined the high-profile league of Indian-American honchos who are calling the shots at the $1-trillion strong companies in the Silicon Valley. Krishna, 57, joins Microsoft CEO Satya Nadella, Alphabet and Google CEO Sundar Pichai, Adobe President and CEO Santanu Narayan...

No pump priming economy: Nirmala Sitharaman after Budget


New Delhi: Putting aside the hope of a strong fiscal stimulus to pump prime the economy, Finance Minister Nirmala Sitharaman said on Monday that the Budget gave a macro treatment to the economy rather than addressing sectors separately and put infrastructure spending as the highest priority while taking a fiscally prudent route. "The attempt is...

NRIs will pay tax only on India income: Nirmala Sitharaman


New Delhi: The government said on Monday it doesn’t intend to tax income that bona fide workers earn overseas, allaying concerns about a budget proposal relating to non-resident Indians (NRIs) that said those who weren’t taxed in another country were liable to pay tax in India. This had caused Indians working in the Middle...

Eliminate needless government intervention to spur growth: Economic Survey


New Delhi: Eliminate instances of needless government intervention to enable competitive markets and thereby spur investments and economic growth, the Economic Survey 2019-20 said on Friday. According to the Survey, each government ministry must systematically "examine areas where the Government needlessly intervenes and undermines". However, it did not argue that there should be no Government intervention. "Instead,...

Economic Survey pegs GDP at 6-6.5% in financial year 2021


New Delhi: Expecting strong recovery in the economy, Economic Survey 2019-20 has projected 6-6.5 per cent GDP growth in FY21. This signals that the Union Budget would be growth-oriented and announce fiscal stimulus to spur growth and investment in the country. The projection also suggests that the slowdown has bottomed out and growth would pick...

India’s gold demand falls 9% on record prices in 2019


New Delhi: The World Gold Council (WGC) said on Thursday that India’s gold demand fell nine per cent to 690.4 tons in 2019 from the previous calendar year as record domestic prices and economic slowdown dented retail purchase. However, in 2020, gold demand in India -- the world’s second biggest consumer after China -- could...

Coronavirus: India Inc concerned as markets see fall


New Delhi: India Inc, as well as domestic stock markets, have showed concerns over the spreading cases of Coronavirus and its impact on global trade recovery. The new virus, which is of the same genre as SARS of 2003, was first reported in WHO Disease outbreak news on January 5 in China's Wuhan. Till now...

Tech Mahindra opens Google Centre of Excellence in Hyderabad


Hyderabad: Digital transformation provider Tech Mahindra on Tuesday launched a dedicated Google Cloud Centre of Excellence (COE) here to drive the digital transformation of enterprises globally. The COE will provide enterprises with access to technology and services they need to expedite their Cloud migration, and deliver tailored solutions to help them move critical workloads to...