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The Tata Group, which leads the electric car market in India, has opposed a cut in import duty on electric cars — as demanded by Elon Musk and his company Tesla — saying that the move “goes contrary” to the government’s FAME (Faster Adoption and Manufacturing of Hybrid and Electric vehicle) policy, which seeks localisation and indigenisation of green vehicles. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3zBDvH8

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Storage battery leader Exide Industries is keen to set up the first lithium ion battery cell manufacturing facility in India called Advance Cell Chemistry Project or ACC. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3kH1Ghd

Chief economic adviser Krishnamurthy Subramanian on Tuesday indicated that the Indian economy may grow at double-digit rates, while maintaining that a withdrawal of stimulus in several countries may not have a significant impact, given that India’s macro-economic fundamentals were strong. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/38rmZO8

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China's new data security law takes effect from Wednesday -- the latest effort to tighten oversight of the country's mammoth tech sector. The law lays down the responsibilities of all companies and organisations handling data. It stipulates fines of up to 10 million yuan ($1.55 million) for a range of offences including leaks and failing to verify the identity of buyers or sellers of information. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/38rGlCX

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Data released by the National Statistical Office (NSO) on Tuesday showed GDP growth rose 20.1% in the three months to June, the first quarter of the 2021-22 fiscal year, compared with a record contraction of 24.4% in the year-ago period. It was also higher than 1.6% growth recorded in January-March 2021. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3gOIKMw

India's macroeconomic fundamentals are much stronger, and the country is all set for robust growth on the back of structural reforms, the government's capex push and rapid vaccination, chief economic adviser (CEA) KV Subramanian said on Tuesday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3t06z93

The central government's fiscal deficit stood at Rs 3.21 lakh crore or 21.3 per cent of the budget estimates at the end of July, as per the data released by the Controller General of Accounts (CGA) on Tuesday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3t2aH8e

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In a circular on Tuesday, Sebi clarified that AMCs shall disclose "risk-o-meter of the scheme wherever the performance of the scheme is disclosed and risk-o-meter of the scheme and benchmark wherever the performance of the scheme vis-a-vis that of the benchmark is disclosed" in all disclosures, including promotional material from Zee Business: India Markets News https://ift.tt/3jrOr4B

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India's gross domestic product (GDP) for the first quarter ended June 30, 2021 soared to record high of 20.1 per cent, data released by the government showed on Tuesday. The jump in GDP numbers is mainly due to a weak base last year and also a rebound in consumer spending during the quarter. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3t1bIgU

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India's gross domestic product (GDP) for the first quarter ended June 30, 2021 soared to record high of 20.1 per cent, data released by the government showed on Tuesday. The jump in GDP numbers is mainly due to a weak base last year and also a rebound in consumer spending during the quarter. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3yvLjsR

Equity indices jumped to record highs in yet another session on Tuesday with the benchmark BSE sensex rising over 650 points led by gains in metal, IT stocks as investors await gross domestic product (GDP) data release. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3DttTAV

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The government has allowed the Tata and Adani groups to sell electricity from idle capacity at their imported coal-based plants in Gujarat on energy exchanges for a month to check the spike in power prices triggered by coal shortage in 73 generation stations. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/38tkRW1

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Airtel's Rs 21,000 crore fund-raising plans will give the firm the fuel to shift to a higher gear and tap large opportunities by accelerating investments in the rollout of 5G services, fibre, and data centre business, its chairman Sunil Mittal said on Monday. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/38muzcO

Alibaba Group Holding Ltd. has dismissed 10 staffers for publicizing an employee’s account of sexual assault allegations against a former manager, people familiar with the matter said, as the e-commerce giant moves to resolve a case that’s rocked China’s tech establishment. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3mKcNJ5

Equity indices surged to fresh highs on Monday with the benchmark BSE sensex rising over 750 points led by gains in auto and metal stocks. After scaling to a fresh intra-day high of 56,958, the 30-share BSE sensex finished 765 points or 1.36 per cent higher at record high of 56,890. While, the broader NSE Nifty settled 226 points or 1.35 per cent up at new peak of 16,931. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3mLvKuW

South Korea is expected to become the first country to pass a law ending Apple and Google’s domination of payments on their mobile platforms, setting a potentially radical precedent for their lucrative app store operations everywhere from India to the US. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3DrjmpH

China’s crackdown on technology companies is prompting global investors to look for new opportunities across Asia, contributing to a record jump in initial public offerings (IPOs) from India to South Korea that shows few signs of slowing. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2WtEJGr

The country's largest carmaker Maruti Suzuki India on Monday said it will hike prices across models from next month amid rising input costs. In a regulatory filing, the company said, ".... over the past year the cost of company's vehicles continue to be adversely impacted due to increase in various input costs." from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/38oRm7U

The 16-month-old app, which allows users to send tweet-like posts in English and seven Indian languages such as Hindi and Kannada, has seen about 85% of its users join since February, when Twitter’s disputes with the Modi administration escalated. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2UYnR9P

Tesla’s proposal for a reduction in import duty to enter India has been backed by several government agencies, including the road transport ministry, department for promotion of industry and internal trade and NITI Aayog, with a final call now to be taken by the finance ministry. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3mJ9D8r

Equity indices jumped to fresh lifetime highs in opening trade on Monday with the benchmark BSE sensex rising over 400 points, led by gains in metal and auto stocks. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3ky9Vfr

The income tax (I-T) department on Sunday said that it has issued refunds of Rs 51,531 crore to nearly 23 lakh taxpayers between April and August 23, pointing to a sharp decline so far in the year. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3jrlYvE

The announcement came on Sunday, nearly a week after finance minister Nirmala Sitharaman and her team of officials from the tax department met Infosys CEO Salil Parekh and set a September15 deadline to remove the glitches that have plagued the new platform since its launch in early June. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3Bovd65

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The Insolvency and Bankruptcy Board of India (IBBI) has proposed major changes in the insolvency process to bring more discipline and transparency and to address issues that have come up in recent cases. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3mGc5fO

Private equity giant Baring Asia, which owns the software firm Hexaware Technologies, is set to pick the $3-billion offer from the Carlyle Group for the city-based company, according to a person with direct knowledge of the matter. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/2UWTBw2

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Prime Minister Narendra Modi’s ambitious Rs 100 lakh crore Gati Shakti Master Plan — which will offer multi-modal connectivity to more than 1,200 industrial clusters, including two defence corridors across the country — will be unveiled next month as part of a plan to reduce logistic costs and provide better connectivity. Modi on August 15 had announced that the total size of the Gati Shakti project will be Rs 100 lakh crore for developing holistic infrastructure from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3kERK89