Page 3 - Assocham

India Inc seeks Rs 2 trillion in govt relief as lockdown hits businesses

The demand comes in the wake of businesses and industry taking a hit as India entered the third week of the 21-day nationwide lockdown

India can fill up export space vacated by China over coronavirus: Assocham

It said Indian exporters of electronics, pharmaceuticals, speciality chemicals and automobile segments depend on China for raw material and are facing supply constraints

Round-the-clock power supply via renewable-thermal bundling: Draft policy

Addressing the issues of intermittency, limited hours of supply and low capacity utilisation of transmission infrastructure, the draft policy provides for reverse bundling

Tunnel works worth over Rs 1 trn to be undertaken in next 5 years: Gadkari

He said the need of the hour is to reduce cost and improve quality and added that departments cannot function in silos and need to work in a comprehensive manner

Flipkart digs deep into India's fintech market; clocked 40% growth in 2019

From providing consumer credit, device insurance to seller financing, Flipkart's fintech category grew 40 per cent in 2019.

Market borrowing rate must come down: Assocham president B K Goenka

Goenka said while the RBI has reduced the repo rate, banks have not cut their lending rates. They are not reducing it because of the input cost-output cost difference

Steelmakers fear iron ore supply disruption once leases expire next March

Industry says transition from existing to new lessee is not going to be as easy as anticipated

GDP shocker: India Inc expects growth to rebound in Q3 on stimulus measures

Biocon CMD Kiran Mazumdar-Shaw opined that few pragmatic policies can help put India on the top again

Rajapaksa's visit can boost trade, investments with Sri Lanka: Assocham

Rajapaksa arrived here on Thursday on a three-day visit, his first overseas tour after taking over the reins of Sri Lanka 10 days back, a reflection of importance he attaches to ties with India

Power ministry has asked states to lower tariffs for discoms: R K Singh

Earlier this year, the government has taken steps such as mandatory issuance of letter of credit to generating companies by discoms and single-day payment

ARC role in resolution may help pare NPAs to Rs 9.1 trn by March: Crisil

With the share of cash deals rising, discounts could remain high. To make way for newer acquisitions and attract new and repeat investors, ARCs must quickly resolve assets and redeem security receipts

Business leaders seek Rs 1 trillion govt stimulus to revive economy

Industry leaders met Finance Minister Nirmala Sitharaman in New Delhi for three hours.

Foreign defence firms be allowed a majority stake in Indian JVs: Assocham

In 2016, the prevailing 26 per cent cap for foreign direct investment (FDI) in defence was raised to 49 per cent through the automatic route

Assocham pitches for a reduction in corporation tax rates cut

The Assocham president also called for setting up development financial institutions, exempting securities held for at least three years from long term capital gains tax among other issues

Liquidity crunch: Assocham seeks credit line of Rs 400 bn to NBFCs from RBI

The Reserve Bank should provide a liquidity credit line of Rs 30,000-40,000 crore to non-banking financial companies (NBFC) as a temporary relief from tight liquidity conditions, Assocham said Friday. In a statement, the chamber's Secretary General Uday Kumar Varma said such steps were essential in view of the current 'liquidity crisis' faced by the Indian economy. He also voiced industry concerns and the growing unease among investors and businesses at large. Varma observed that in view of the liquidity challenges, monetary policy easing by way of lowering interest rates would give the necessary boost to investor confidence. He highlighted that due to the various factors that have triggered this liquidity crunch, "beginning with the IL&FS default and measures to keep the rupee from depreciating further, the money markets have seen higher costs of borrowing capital". Seeking urgent attention to the crisis, he appealed for immediate measures to infuse liquidity into the system by ..

Assocham hails RBI's opening of banking tap to boost capital flow to NBFCs

The provision will allow banks to free up Rs 500-600 billion of liquidity which banks can lend to NBFCs till December 31

Escalation of global trade war will damage Indian economy: Assocham

'Though India may not get much of a direct impact, the collateral damage could be in the form of adverse impact on the overall sentiment'

Balancing farmers', consumers' interests a tightrope walk: Assocham

With vegetables and fruits having seen notorious gyrations in prices, the overall CPI inflation may well cross even the limit of four per cent by the RBI

Exempt electricity duty to boost investments in state: Assocham to Odisha

After completion of this exemption period the electricity duty will also be a revenue source to government of Odisha

Looming inflation to shrink rate cut prospects: Assocham

The chamber observed that as uncertainty and apprehension loom over crude oil prices and vegetables, mainly on the back of rising retail prices