Reduce GST on mobile phones to 12%, ICEA writes to state CMs

New Delhi (IANS) The India Cellular and Electronics Association (ICEA) said on Tuesday that it has written to various state chief ministers to reduce the GST rates on mobile phones to 12 per cent and on mobile parts and components to 5 per cent.

India's Oct wholesale price inflation rises to over 12%

New Delhi (IANS) Higher prices of primary goods along with food articles and fuel cost stiffened India's October 2021 wholesale inflation on a sequential and year-on-year basis.

Accordingly, the annual rate of inflation, based on wholesale…

Future Retail says Amazon misrepresented to CCI, seeks cancellation of FCPL deal

New Delhi (IANS) The independent directors of Future Retail have written to the Competition Commission of India (CCI) stating that it is found that the representations made by Amazon in the application to the CCI for approval, which were completely…

Maruti Suzuki to operationalise 3rd plant in Haryana in 3 years' time

New Delhi (IANS) Country's largest car maker Maruti Suzuki has got the nod to set up its third plant at Sonepat in Haryana.

Maruti Suzuki already has two manufacturing facilities in Haryana. The Gurgaon manufacturing facility has three…

RBI's 'Retail Direct Scheme' receives healthy response

Mumbai (IANS) Reserve Bank of India has received a healthy response for its customer centric initiative of 'Retail Direct Scheme'.

The scheme provides a new medium of investment in government securities.

In a tweet, RBI on Saturday…

SpiceJet's Q2FY22 standalone net loss sequentially narrows to Rs 561.7 cr

Mumbai (IANS) Airline major SpiceJet's Q2FY22 standalone net loss narrowed to Rs 561.7 crore on a sequential basis.

The airline had reported a net loss of Rs 729 crore in the first quarter of FY22.

However, on a year-on-year basis…

Coir business to be hit as TNPCB puts it in polluting industry category

Chennai (IANS) The coir industry at Pollachi in Tamil Nadu will be affected after the Tamil Nadu State Pollution Control Board (TNPCB) reclassified it from white to orange which places it in the category of polluting industries.

Environmentalists…

Semiconductor shortage dent Oct PV sales

New Delhi (IANS) Challenges pertaining to electronic components' availability, coupled with high operating and ownership costs due to rising commodity prices dragged passenger vehicles' sales lower on a year-on-year basis in October.

Accordingly,…

'Trade in iron ore pellets free': Centre to SC on PIL alleging duty evasion

New Delhi (IANS) The Central government has told the Supreme Court that iron ore pellets are not listed in either of the three regulated entities list - prohibited, restricted, or standard trading enterprises (STEs) - which clearly shows that "as…

Global cues subdue equity markets; Sensex down over 400 pts

Mumbai (IANS) Negative global cues along with foreign fund outflows subdued India's key equity indices - S&P BSE Sensex and NSE Nifty50 - during Thursday's early-morning trade session.

At 10.15 a.m., the 30-scrip sensitive index traded…