Foxconn India's Sriperumbudur plant to reopen on January 12

The plant was closed in December following protests over its workers being treated for food poisoning Apple Inc supplier Foxconn will reopen its shuttered iPhone manufacturing facility in Tamil Nadu on January 12, government officials and a legislator in the region where the plant is located told Reuters. Foxconn Technology Group said it has implemented a range of corrective actions […]

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Ask us: On investments

Another option is an LIC pension scheme for senior citizens called Pradhan Mantri Vaya Vandana Yojana. Q.It had been reported that accrual of interest in EPF accounts in excess of ₹2.50 lakh during FY22 is taxable income. Kindly clarify the following: a) Is accrued interest in excess of ₹2.50 lakh taxable income in respect of GPF account holders, also considering […]

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Passenger vehicle retail sales dip 11 % in Dec amid semiconductor woes

Two-wheeler sales also continued to remain in the slow lane last month. Passenger vehicle retail sales in India witnessed an 11 % year-on-year decline in December as semiconductor shortage continued to impact the segment, automobile dealers’ body FADA said on Wednesday. The passenger vehicle (PV) retail sales last month fell 10.91 % to 2,44,639 units from 2,74,605 units in December […]

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Tech Mahindra to acquire 100% stake in Allyis India, Green Investments

Tech Mahindra would pay total consideration of up to $125 million, including employment-related and performance-related earnouts Tech Mahindra on December 31 said it has approved a proposal for the acquisition of a 100% stake in Allyis India and Green Investments, for a total consideration of up to $125 million. The acquisition is expected to bolster Tech Mahindra’s capabilities in digital […]

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Pharma, healthcare industry looks to sustain momentum in 2022: OPPI director

“To this end, the industry must collectively work towards supporting, recognising, and rewarding high-risk research and development,” he added. Having proved its prowess to the world during the challenging times of the pandemic by supplying 60% of the global COVID-19 vaccine requirements, the Indian pharma and healthcare industry is looking to build on the experience of the last two years, […]

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Amazon files writ on scope of Enforcement Directorate’s probe

Amazon on Wednesday filed a writ petition in the Delhi High Court seeking clarifications on the scope of Enforcement Directorate’s (ED) investigations into alleged foreign exchange violations by the company, sources said. Last month, Amazon had said it was in receipt of summons by the ED in connection with its deal with the Future Group. As per sources, Amazon said […]

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‘Plan to boost electronics manufacturing on anvil’

Role in global value chain is key: Min To make India a global electronics export and manufacturing hub, the focus has to be on building scale and exports through participation in global value chains (GVCs) by ‘lead’ firms and their tier 1, 2 and 3 manufacturers, Minister of State for Electronics & IT Rajeev Chandrasekhar said on Tuesday. GVCs are […]

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