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EY forecasts extension of 15% corporate tax rate in 2024 budget
EY predicts that the interim Budget may push back the deadline for commencing manufacturing from March 31, 2024, to March 31, 2025, for companies benefiting from the 15% concessional income tax rate.Read more
India explores global partnerships for indigenous hydrogen-powered trains
The Indian Railways is advancing the creation of a prototype train utilising hydrogen fuel cells, offering a more eco-friendly alternative to traditional diesel locomotives.Read more
India positioned as global leader in clean energy supply chain diversification
Nirmala Sitharaman highlighted India's robust climate initiatives outlined in its Nationally Determined Contributions (NDCs) speaking at the launch of the 'Partnership for Resilient and Inclusive Supply-chain Enhancement' during the World Bank-IMF Annual Read more
KCCI urges fair treatment for MSMEs in NCLT resolutions
In a letter addressed to Union Finance Minister Nirmala Sitharaman on October 7, Chamber President Ananthesh V Prabhu expressed concerns about the bleak prospects for MSMEs in recovering their dues after engaging in business with LLCs that end up before tRead more
CDIIC, SIDBI partner to boost Coimbatore startups with Rs 2 cr funding
The Codissia Defence Innovation and Atal Incubation Centre (CDIIC) has entered into a funding agreement with the Small Industries Development Bank of India (SIDBI) to support startups incubated at its Coimbatore facility.Read more
India pursues unified battery-swapping standards for Electric Vehicles
NITI Aayog, the government's public policy think tank, has urged the Ministry of Heavy Industries to convene a meeting involving industry stakeholders.Read more
India offers $452 mn incentives for Green Battery Storage Boost
Information Minister Anurag Thakur revealed that this program will actively support the development of a storage capacity of 4,000 megawatt hours (MWh) by the year 2030-31.Read more
Godrej Capital launches Nirmaan, a digital platform for MSMEs
Godrej Capital has partnered with trusted brands like Amazon Global Selling, Onsurity, Zolvit, and MSMEx to provide solutions around core challenges faced by MSMEs and will look to enhance its partner network in the near future.Read more
Budget 2023: The manufacturing fine print
Global commodity supply continued to be disrupted due to intensified Russia-Ukraine war and re-emergence of Covid-19 in China. Read more
Budget 2023: Revving up manufacturing with duty revisions and capex boost
By allocating Rs 10 lakh crores for capital expenditure (which would be 3.3 per cent of GDP) and making minor changes in the basic custom duties, cesses and surcharges on some components, the budget aims to provide more opportunities for local manufacturing.Read more