|
|
| IMC Digital Processes have changed with online features, to experience the new processes visit us at https://www.imcnet.org
|
|
|
| |
|
CUSTOMS
|
|
20
Nov
|
Notification No. 81/2024
(Delhi)
S.O. (E).- In exercise of the powers conferred by clause (a) of sub-section (1) of the section 7 of the Customs Act, 1962
|
|
|
INCOME TAX
|
|
20
Nov
|
Circular No 16/2024
(Delhi)
Condonation of delay under section 119(2)(b) of tbe Income-tax Act, 1961 in filing of Form No. 9A110/10B/I0BB for Assessment Year 2018-19 and subsequent assessment years - Reg.
|
|
|
|
|
20
Nov
|
Circular No 17/2024
(Delhi)
Condonation of delay nnder section 119(2)(b) of the Income-tax Act, 1961 in filing of Form No. 10-IC or Form No. 10-ID for Assessment Years 2020-21, 2021-22 and 2022-23-Rcg.
|
|
|
|
|
 |
|
|
|
|
|
|
|
LIVE MARKET
|
|
NSE (NIFTY)
|
0
|
|
BSE (SENSEX)
|
0
|
|
NASDAQ
|
0
|
|
FTSE 100
|
0
|
|
|
USD
|
0
|
|
EURO
|
0
|
|
GBP
|
0
|
|
GOLD
|
0
|
|
SILVER
|
0
|
|
INDIAN ECONOMY
|
|
|
States are on track of fiscal consolidation with their total borrowings reaching Rs 5 trillion till October, which is 60 per cent of the projected borrowings of Rs 8.38 trillion till December 2024, according to data from official sources.
Government officials said the lower-than-projected borrowings by sta...
Read More
|
|
India has to be prepared for higher tariffs in the Trump regime and slower global export growth, which will present challenges, chief economic advisor (CEA), V Anantha Nageswaran said. Exports is not an effective engine for growth because global trade is projected to slow and US tariffs may make it more chall...
Read More
|
|
Ten of the recently approved industrial cities are situated directly on four of India’s economic and industrial corridors, the government said Tuesday.
The Cabinet had in August, approved 12 new project proposals under the National Industrial Corridor Development Programme (NICDP) with an estimated investm...
Read More
|
|
Marriages and shopping is a match made in heaven. Retailers and brands are expecting one to translate to the other — and see better numbers in the second half of this financial year on the back of the big fat Indian wedding. There are 47 auspicious days for tying the knot during October-March, more than three...
Read More
|
|
Former Planning Commission deputy chairman Montek Singh Ahluwalia on Tuesday said there is no commitment at present in reducing the fiscal deficit which stood at around 7 per cent at combined level of the Centre and states.
“Earlier, there was at least a clear focus on reducing the fiscal deficit. Howeve...
Read More
|
|
Commerce and Industry Minister Piyush Goyal on Tuesday said that India's current account deficit (CAD) is manageable as it is doing well in services exports.
He said that the import numbers of the country are correlated with exports as much of the imported goods are shipped back after value addition.
"O...
Read More
|
|
With the headline inflation spike in October to a 14-month high at 6.21 per cent YoY, above the official forecast of 4.8 per cent YoY, economists and experts postponed their rate cut call to February 2025 from December 2024. Radhika Rao, Senior Economist, DBS Bank, said that with firm inflation, hawkish speak...
Read More
|
|
The UK-India Free Trade Agreement (FTA), a key trade deal that could significantly reshape bilateral economic relations, is set to relaunch in early 2025. This announcement comes after a high-level meeting between UK Prime Minister Keir Starmer and Indian Prime Minister Narendra Modi on the sidelines of the G...
Read More
|
|
|
MARKET & FINANCE
|
|
|
The government has begun discussions with stakeholders, including banks and regulators, to develop a 'Creditworthiness Index' as part of its push to improve credit access for micro and small businesses.
The proposed index will rate companies across industries using common parameters, helping lenders evalua...
Read More
|
|
|
GLOBAL CORPORATE
|
|
|
Japan's exports expanded faster than expected in October, led by a pick-up in chip equipment demand in China, though fears persist over potential U.S. protectionist trade policies that could hamper future shipments.
Japanese businesses are weighing the impact of new and potentially hefty tariffs promised b...
Read More
|
|
As Volkswagen and unions gear up for the next round of talks over wages and plant closures in Germany, company and industry data reviewed by Reuters show that the automaker spends a higher proportion of sales on labour costs than major rivals.
The data, in an internal memo by Volkswagen's works council rev...
Read More
|
|
Nestle will boost advertising and marketing, trim costs by at least $2.8 billion by 2027 and carve out its water and premium drinks businesses into a standalone global unit as it looks to drive growth under its new chief, the company said on Tuesday
CEO Laurent Freixe, a 40-year veteran of the world's bigg...
Read More
|
|
A congressional panel has recommended that the US toughen its trade relationship with Beijing, pushing to roll back a nearly 25-year-old decision that helped bring about China's rapid economic growth but that many in Washington now see as hurting US interests.
In its annual report to Congress released on T...
Read More
|
|
Qualcomm said on Tuesday it was "positive" on President-elect Donald Trump's incoming administration and not concerned that proposed US tariffs on China would dampen its business in the country from which it derives nearly half its revenue.
Qualcomm executives made the remarks at an investor event in New ...
Read More
|
|
Mexico's top economy officials on Tuesday downplayed concerns about trade talks with Donald Trump's administration, saying the potential impact on American companies could give the incoming US president second thoughts about levying massive tariffs.
Trump campaigned on a pledge to roll out a slew of tarif...
Read More
|
|
Alphabet Inc.’s Chrome browser could go for as much as $20 billion if a judge agrees to a Justice Department proposal to sell the business, in what would be a historic crackdown on one of the world’s biggest tech companies.
The department will ask the judge, who ruled in August that Google illegally monop...
Read More
|
|
Blackstone has agreed to buy Jersey Mike's Subs, the sandwich chain said on Tuesday, in a deal that a source said valued the company at around $8 billion, including debt.
Reuters had reported on Monday, citing a person familiar with the matter, that Blackstone was nearing a deal for Jersey Mike's.
The de...
Read More
|
|
|
|
|
|
|
|
|
Banking
|
|
|
National Payments Corporation of India's managing director and chief executive Dilip Asbe on Tuesday said that the technical decline rates on UPI platform have fallen to up to 0.8 per cent now. He also said that the payments ecosystem is looking to move the low-ticket transactions to UPI Lite which will help ...
Read More
|
|
The microfinance sector saw asset quality deteriorate sharply in the September quarter with the share of doubtful loans surging to an 18-month high of 11.6%, seemingly validating the regulatory warnings about the accelerating sectoral exposure.
Bad assets climbed 140 basis points (bps) in the three months ...
Read More
|
|
The Indian government is considering selling minority stakes in four state-run banks to comply with public shareholding norms mandated by the country's markets regulator, a government source told Reuters.
The finance ministry is likely to seek approval of the federal cabinet in the coming months to dilute...
Read More
|
|
|
|
|
|
|
|
|
|
|
|
|
GLOBAL ECONOMY
|
|
|
| Trade Report |
| Country |
Month |
Link |
| Switzerland |
July 2019 |
Click |
|
|
Canada's annual inflation rate accelerated more than expected to 2.0% in October as gas prices fell less than the previous month, data showed on Tuesday, likely diluting chances of another large rate cut in December.
"The fact ...
Read More
|
|
Thailand expects to conduct the third phase of its cash handout stimulus programme in the second quarter next year, when 140 billion baht ($4.1 billion) will be distributed to 14 million people, a deputy finance minister said on W...
Read More
|
|
Sri Lankan President Anura Kumara Dissanayake on Monday urged the International Monetary Fund to consider the economic hardships faced by the people of the island nation and strike a balance in the economic recovery programme. The...
Read More
|
|
The global economy faces a challenging landscape in 2025 characterized by subdued growth and heightened uncertainty, according to a report from Barclays Bank.
The report highlighted that the world is unlikely to experience sign...
Read More
|
|
|
INDIAN CORPORATE
|
|
|
Technology solutions provider Corporate Infotech Pvt Ltd (CIPL) on Tuesday said it received a seven-year contract from state-owned Oil and Natural Gas Corporation (ONGC) for an overhaul of IT infrastructure. "ONGC awards Corporate...
Read More
|
|
Birla Opus Paints, a subsidiary of Aditya Birla Group’s Grasim Industries, announced on Tuesdaythe opening of the company's fourth manufacturing plant in Chamarajnagar, Mysore.
The new facility, which adds 230 million litres pe...
Read More
|
|
Hilton Worldwide expects to quadruple the number of hotel rooms in its India pipeline in the next five years, the company's APAC chief said, as the hotel operator seeks to close the gap with rivals amid a booming domestic travel m...
Read More
|
|
Tata Power on Tuesday said it has entered into a strategic partnership with Bhutan's Druk Green Power Corporation Ltd (DGPC) for the development of 5,000 MW of clean energy capacity in the Himalayan nation.
DGPC, is a subsidiar...
Read More
|
|
|
|
|
|
|
|
|
SEBI
|
|
|
The Securities and Exchange Board of India (Sebi) on Tuesday proposed stiffer listing regulations for small and medium enterprises (SMEs).
These include enhanced eligibility conditions, increasing the minimum application value...
Read More
|
|
|
Insolvency
|
|
|
The Insolvency and Bankruptcy Board of India (IBBI) proposed several changes to liquidation regulations, including a review of the auction process and voluntary liquidation regulations, in a discussion paper on Tuesday.
The pro...
Read More
|
|
|
|
|
|
|
|
|
IMC Chamber of Commerce and Industry has sent this e-mail to you because your subscription preferences indicate that you want to receive latest news alerts on this email ID. For suggestions and feedback news alerts on this email ID. For suggestions and feedback click here .
|
|
|
|
|
Head Office :
IMC Bldg., IMC Marg, Churchgate, Mumbai - 400 020 India
Tel : 91-22-71226633 | Fax : 91-22-22048508 / 22838281
|
|
|
|
E-Mail : imc@imcnet.org
Website : www.imcnet.org
|
|
|
|
|
|