Volkswagen CEO Oliver Blume has identified India as a promising market for its upcoming line of affordable small electric vehicles. The German automotive giant is actively collaborating with partners to explore the optimal strategies for introducing these electric cars to the Indian market, recognizing its growing significance as the world’s third-largest automotive market.
Finance Minister Nirmala Sitharaman stated the government is closely monitoring exchange rates, highlighting the widespread depreciation of currencies against the strengthening US dollar. The rupee recently hit a record low of 88.27 against the dollar, influenced by concerns over newly imposed US tariffs, including a significant penalty on Russian crude oil imports, impacting key sectors…
Crisil Intelligence reports that India Inc’s revenue is expected to increase by 6-7% this fiscal year, driven by reduced GST rates. While the rate cuts are anticipated to boost consumption, accounting for 15% of corporate revenue, the anti-profiteering rule may limit significant profit margin expansion for companies.
Amazon and Flipkart are updating their systems to help sellers pass on GST rate reduction benefits to customers starting September 22. Amazon stated they are proactively updating systems with revised GST codes for seamless compliance. Flipkart has also asked sellers to revise prices and update tax codes.
Following Awfis’ successful debut, the Indian co-working space market is gaining traction with more IPOs on the horizon. Smartworks and IndiQube Spaces have already followed suit, and WeWork India is expected to launch its IPO soon, aiming to raise ₹4,000 crore.
The GST Council has eased compliance for businesses, particularly FMCG companies, by removing the requirement to link credit notes to specific invoices. This change addresses a long-standing pain point, especially for products with short shelf lives, and aligns GST provisions with standard business practices.
Car dealers in India are seeking government and automaker assistance to manage approximately Rs 2,500 crore in unadjusted GST cess. With a large inventory accumulated for the festive season, dealers face potential losses and working capital disruptions due to the removal of the cess.
Indian urban households are predicted to significantly increase online shopping this festive season, driven by recent GST rate reductions on white goods and electronics. A LocalCircles report anticipates a 115% surge in online shoppers, with overall festive spending projected at Rs 2.19 lakh crore. While physical stores remain relevant, convenience and better prices are drawing…
Eight key OPEC+ members, including Saudi Arabia and Russia, plan to increase oil production by 137,000 barrels per day starting next month, despite sliding oil prices and concerns about oversupply. This decision signals a shift towards prioritizing market share over price support, surprising markets and raising questions about the alliance’s unity amid geopolitical tensions and…
Food delivery in India is becoming more expensive as Zomato, Swiggy, and magicpin have increased their platform fees just before the festive season. Additionally, an 18% GST on delivery charges, effective from September 22, will further raise the cost of ordering food online. These changes raise concerns about the affordability and convenience of food delivery…
