Modi to address FICCI
Prime minister Modi will be attending the AGM of a leading business chamber for the first time at a time when the economy has started to recover. He will be delivering the inaugural address at the annual general meeting of the Federation of Indian Chambers of Commerce and Industry (FICCI) on Dec 13. Till now Modi had kept his distance from the corporates.
A case of fraud
UB Group chairman Vijay Mallya has “a case of fraud” allegations to answer, a London court was told at the start of a two-week hearing on India’s plea for his extradition. Mallya, who is wanted in India on charges of money laundering and owing Rs9,000 crore in loans linked to his defunct Kingfisher Airlines, denies all charges against him
Investors get a boost
Huge returns from investments in big entities like Flipkart and Paytm have boosted the value of exits by venture capital firms this year which touched an unparalleled high and outpaced fresh investments. Investors garnered returns amounting to Rs 16965 crore in 2017 while new deals brought in capital worth about Rs 7318 crore.
Top taxpayers under scanner
In an effort to understand the slowing GST collections, the Central Board of Excise and Customs has sought detailed field reports with a special focus on top taxpayers. A detailed analysis comparing tax payments before and after GST was imposed has been asked to be submitted. The top 100 assessees will be under the scanner.
Patanjali to enter solar equipment manufacturing
Patanjali Ayurveda, the consumer goods products company is all set to diversify into solar equipment manufacturing. This will be the company’s first tryst with the infrastructure sector after it made its mark in consumer products. Acharya Balkrishna of Patanjali Ayurveda said the move was in keeping with its ‘swadeshi’ focus.
India among nations that will drive ad spends
Five other nations along with India will be driving ad spends in 2018, media agency GroupM has predicted. The five nations are US , China, Argentina, Japan and the UK which along with India will push advertising growth to 4.3 per cent in 2018 versus 3.1 per cent this year.
Lucrative packages offered at IITs
The various Indian Institutes of Technology have witnessed a 40 per cent rise in the offers that have been offered to the students on the day one of the campus placement sessions this year. Unlike previous years, on day one of this years placement session, students were offered packages as high as Rs 1 crore. The number of international offers that were given to prospective candidates also increased this year
New home furniture brand Script launched
Godrej & Boyce today launched a new home furniture brand Script targeting the mass premium segment and is eyeing a revenue of Rs 320 crore in the next three years from this venture. The company has presence in the furniture category with Godrej Interio, but said Script and Interio would operate as different entities.