So, the backing of global finance provides no assurance whatsoever that all the unicorns will succeed. On the contrary, the financiers believe the vast majority will fail. But they have spread their risks by buying into hundreds of such companies, so they can survive the sinking of many ventures.
"Globalisation has tripled Indian GDP in a generation, an amazing accomplishment, ..but the workers of India have been left out," Maskin, a professor of Economics and Mathematics at Harvard University, said.
AEOs are importers or exporters involved in international movement of goods that opt for the AEO certification programme. The certification is internationally recognised and gives such companies benefit of reduced time of clearance, lower costs and minimal disruption in cargo flow through customs, as they're considered secure and reliable trading partners.
"India and the US are working towards peace and stability across the world," he said addressing the '2nd Indo-US Services Summit', organised by Indo American Chamber of Commerce (IACC).
“Our half a trillion bar is not far away. I am sure you will achieve it… A trillion dollars is possible, it is doable and now is the time you plan for that,” Goyal said.
India is formulating standards for the services sector so that the country can have high quality of services to offer to the rest of the world, commerce and industry minister Piyush Goyal said on Saturday.
State-owned CIL on Saturday said its board has approved a proposal to increase the coal evacuation facility charges. The board has also approved subsuming rapid loading charges with evacuation facility charges with effect from Sunday, Coal India Ltd (CIL) said in a filing.
Bommai, who is also a member of the GST Council, said the state had received a GST compensation of Rs 12,000 crore for the 2020-21 fiscal. However, the pending amount was Rs 11,400 crore, he said.
According to issued by the the Central Board of Indirect Taxes and Customs (CBIC) notifications on Saturday, every registered person having aggregate turnover under Rs 5 crore, will have to furnish a self-certified reconciliation statement along with the annual return.
An Air India Express flight from here to Saudi Arabia had to make an emergency landing at Thiruvananthapuram international airport on Saturday after a crack in the windshield of the aircraft was detected, an airport official said.
Tesla Inc chief executive officer Elon Musk on Friday showed his support for "Fortnite" maker Epic Games that has challenged Apple Inc's fees on its App Store. "Apple app store fees are a de facto global tax on the Internet. Epic is right," he said in a tweet.
Shailesh Jejurikar has become the first Indian to be appointed global COO of the consumer products MNC Procter & Gamble (P&G). The Mumbai born 54-year-old Jejurikar is an alumni of the Hyderabad Public School and counts among his classmates another famous global CEO — Satya Nadella of Microsoft.
Indian students with a valid visa can fly to the US to join their universities in August, but in the past few weeks many have found their flights cancelled or rescheduled. Air India sources said its collateral damage brought on by the continued restrictions on other categories of US-bound travelers from India.
Chinese factory activity weakened in July to its lowest level since the start of the pandemic, data showed Saturday, as manufacturing was impacted by slowing demand, weak exports and extreme weather.
In what can be good news for hundreds of Indian IT professionals seeking the H-1B work visa, the US' immigration agency has decided to conduct a rare second lottery for the most sought-after visas to decide on the successful applicants who could not make it in the first random selection.
The competition is based on the "bug bounty" programs some websites and platforms offer to find security holes and vulnerabilities, according to Twitter executives Rumman Chowdhury and Jutta Williams.
After being banned by the RBI from issuing new cards, US-based payments technology major Mastercard on Friday said it has submitted an audit report to the regulator showing compliance with the local data storage norms.
The government has given states two more months till December 31 to enrol for funding under the Centre’s Rs 3 lakh crore distribution reforms scheme, power minister R K Singh said after reviewing steps taken by states to improve power infrastructure.
The Indian economy might be able to reach the pre-pandemic level if it grows in 8-10% range as several high frequency indicators have reached the pre-pandemic levels, experts have said.
Microsoft Corp is in advanced talks to invest in Indian hotel chain Oyo at a $9 billion valuation, a source familiar with the matter said on Thursday. The deal could be announced in the coming weeks and would be a prelude to an initial public offering (IPO) by Oyo, the source said.
LinkedIn will allow most employees to opt for full-time remote work as offices gradually reopen, chief people officer Teuila Hanson told Reuters. This new policy from Microsoft Corp's professional social networking site is a reversal of the company's initial indication last October that employees would be expected to work from an office 50% of the time, when Covid-19 pandemic restrictions lift.
Amazon's second-quarter profit jumped 48% from a year ago to $7.8 billion. Its total revenues increased 27% to $113.1 billion, but it was below most Wall Street forecasts. Amazon's rivals Facebook, Apple, Microsoft and Google parent Alphabet all reported higher revenues and profits.
Rolled out in 2017, the GST has subsumed multiple state and central indirect taxes into one. It has five rates currently-0.25%, 5%, 12%, 18% and 28% plus cess on luxury goods. host of common use items have been exempted from GST.
Rice is a staple for 65% of India's population and a key component of the government's food security programme. It's supplied at subsidised rates through the Public Distribution System (PDS) and to children through programmes such as the Mid-Day Meal (MDM) scheme and the Integrated Child Development Scheme (ICDS).
Lok Sabha on Thursday passed the Airports Economic Regulatory Authority of India (Amendment) Bill, 2021 without a debate amid ruckus created by opposition members over their demands including on Pegasus row and farm laws.
The list of companies whose RPs have filed such claims is said to include Aircel, Videocon, Reliance Communications, Jaypee Infratech, LancoInfratech, Bhushan Power and Steel, Bhushan Steel and Educomp Infra, among others.
At least three firms – National Fertilisers Ltd, Mishra Dhatu Nigam Ltd and Rashtriya Chemical & Fertilizers Ltd – will be divested through offer on sale, or OFS, route within the next quarter, the official said.
Vaccination will play the most crucial role in economic recovery, keeping businesses and hiring plans on agrowth path, said business leaders and job market experts.
The California tech giant's profit rose to $21.7 billion on growth in iPhone sales and its increasingly important digital services. Revenue surged 36 percent from a year ago to $81.4 billion, the best ever for the tech titan's fiscal third quarter.
Google parent Alphabet on Tuesday reported quarterly profit that had nearly tripled, as money poured in from ads on its search engine and YouTube video platform. Google is on track to generate $130 billion in overall ad revenue this year, an increase of some 25% from a year earlier.
The panel has recommended that the government should immediately come out with a larger economic package “aimed at bolstering demand, investment, exports and employment generation” to help the economy, including MSMEs, to recover from the fallout of Covid-19.
Not only to transform agri-food systems into sustainable systems, India has taken measures to provide income support to farmers, improve rural incomes, as well as address the issues of under-nutrition and malnutrition in the country, Minister of State for Agriculture Shobha Karandlaje said in a statement.
The Department of Investment and Public Asset Management (DIPAM) had on July 7 floated the Request for Proposal (RFP) for appointing transaction and legal advisors.
Non-fossil fuel sources now account for 39% of India’s power generation capacity, a fact that will help the country surpass its NDC (nationally determined contribution), or carbon reduction commitment under the Paris climate agreement, thanks to the Narendra Modi government’s aggressive renewable energy programme.