BUSINESS
India ranks 1st in APAC region in customer experience maturity: Report
According to a report by Zendesk, 'exceptional' is what businesses must strive for when meeting customer expectations. However, just 17 per cent of Indian businesses are qualified as 'CX Champions' -- those considered the highest standard-bearers, indicating there are only a few organisations in India delivering exceptional customer services.
'India wants bilateral trade relations with countries with which it can increase volume'
Under the World Trade Organisation (WTO) mechanism in 1995, the focus was more on multilateral agreements. Now the major difference is that global perspective, global needs and global trade are under greater focus. The intent of the government is now more on 'Make In India' and the attitude is inward looking. So rather than waiting for WTO reforms to happen, India wants to look at bilateral trade relations with countries with which it can increase its trade volume.
Lured by a rising India, Central Asia rediscovers Iran's Chabahar port
For landlocked countries of Central Asia, connectivity is the greatest priority, both in economic and strategic terms. For double landlocked countries like Uzbekistan, it assumes even greater salience. And the shortest route to the warm waters of the Indian Ocean and to South Asia and further afield is through Af-Pak.
NBFCs AUM to grow 11-12% by end of this fiscal: CRISIL
"Even as growth touches double digits again, it will be lower than the pre-pandemic level. Indeed, AUM had logged a 3-year compound annual growth rate (CAGR) of close to 20 per cent through fiscal 2019. Intense competition from banks and the rising interest rate scenario will limit the competitiveness of NBFCs in certain segments, leading them to focus on higher-yield segments for growth," said Krishnan Sitaraman, Senior Director and Deputy Chief Ratings Officer, CRISIL Ratings.
RIL invested $ 6.6 bn in inorganic acquisitions since 2018
Reliance Industries Limited (RIL) has announced the acquisition of downstream polyester manufacturer, Shubhalakshmi Polyesters. The acquisition will expand RIL's polyester capacity and is inline with plans to better integrate its businesses - from oil products to chemicals and, eventually, consumer retail, Morgan Stanley said in a report.
Mensa Brands acquires MyFitness, to make it Rs 1,000 cr brand
The acquisition will help Mensa Brands launch new categories, scale D2C, invest in brand-building and expand to global markets. "MyFitness is a fast-growing consumer-loved brand and we will scale the brand to have an omni-channel global presence by leveraging our tech-led playbook.
Challenges persist as govt tries hard to bridge India's trade deficit
Simply put, trade deficit is a situation in which the value of goods a country imports is greater than the value of goods it exports -- excluding software, remittances and others. "Exports are slowing down while imports are increasing. This has led to widening trade deficit. The trade deficit was $190 billion last year and around $125 billion for the period from April-August 2022," Madan Sabnavis, Chief Economist, Bank of Baroda, told IANS. According to the Ministry of Commerce and Industry, India's merchandise imports were $61.68 billion and exports were $33 billion in August 2022, leaving a deficit of $28.68 billion.
Excise duties on petrol, diesel zoomed up despite crude staying below $80
The government's revenue generation through levy of excise duty saw a growth of 126 per cent between 2014-15 and 2021-22. The income growth was 186 per cent during the same period. According to official data provided by the Petroleum Ministry's Petroleum Planning and Analysis Cell (PPAC), excise duty on petrol was Rs 9.48 per litre and on diesel it was Rs 3.56 per litre in 2014-15 when the NDA government had come to power.
Unions seek 'forensic audit' of UTI-AMC's 'Rs 2,000-crore exposure' in DHFL scam
The AIUTI-AMCOA and AIBOA have shot off separate letters to various entities while a top leader has sought Central government's directions to the Central Bureau of Investigation (CBI), Enforcement Directorate (ED) and Income Tax (IT) Department to probe the matter thoroughly as it involved "huge public funds".
Scamsters cheat SII of Rs 1 crore in Adar Poonawala's name, cops probe
The fraud transpired earlier this week and following a complaint, the police had lodged a First Information Report, said the official. When contacted by IANS, the SII official declined to comment on the matter. As per the police complaint, an SII director Satish Deshpande received a WhatsApp message purportedly from a person claiming to be Adar Poonawala and seeking the money transfers in installments to certain bank accounts.
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