The government has granted packaged goods manufacturers permission to print revised MRPs on unsold stock following the new GST rules, allowing them to use existing packaging until December. This decision addresses industry concerns about potential waste of packaging material worth over Rs 2,000 crore.
GST reforms: Beyond the mere revamp of the existing slab structure, a series of far-reaching structural reforms are poised to address long-standing complexities within the GST framework.
A proposed US bill, the HIRE Act, threatens Indian IT firms with a 25% tax on outsourced services, potentially eroding their competitive edge. This legislative move, coupled with existing market pressures, could force Indian companies to seek growth beyond the US and impact new contract acquisitions. The bill raises concerns about increased costs and reduced…
Gold prices soared to a lifetime high on Monday, surpassing Rs 1.10 lakh per 10 grams, driven by a weakening US dollar and anticipation of Federal Reserve interest rate reductions. The surge, fueled by disappointing US labor market data, pushed international gold futures to unprecedented levels.
Altmin’s $250 million lithium refining project in Brazil has become the first Indian project listed with the Minerals Security Partnership, aiming to diversify critical mineral supply chains. The project, in collaboration with CBL, will refine spodumene ore into 32,000 tonnes of lithium carbonate. Altmin is also setting up India’s first lithium iron phosphate cathode gigafactory…
Naveen Jindal, President of the Indian Steel Association, anticipates a double-digit growth in India’s steel demand during the second half of the year, following a monsoon-induced slowdown. The recent GST reduction on cement and anticipated lower taxes on automobiles are expected to further stimulate steel consumption.
Rupert Murdoch’s family has finalized a succession plan, ensuring Lachlan Murdoch’s control over Fox Corp. until 2050. This arrangement, settling a dispute reminiscent of HBO’s “Succession,” grants Lachlan, along with his sisters Grace and Chloe, control of Fox News. Prudence MacLeod, Elisabeth Murdoch, and James Murdoch relinquished their claims for $3.
India and Qatar are on track to finalize terms for a bilateral trade agreement by October, while negotiations with the EU are underway, aiming for a free trade agreement by year-end. A trade deal with Oman is also expected soon, further strengthening India’s regional ties. These efforts reflect India’s strategy to navigate global trade uncertainties…
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in green on Tuesday on positive global cues. While Nifty50 was above 24,850, BSE Sensex was up over 300 points.
