Business

[ad_1] Delhi CM Rekha Gupta (File photo) The BJP-led Delhi government is set to unveil a new "foolproof" excise policy that will incorporate the best practices from other states to boost revenue, according to Chief Minister Rekha Gupta. In an interview with PTI, Gupta emphasized that the new policy will be transparent, carefully designed to avoid societal issues, and focused on generating government revenue."We will bring a new, foolproof policy that is transparent and generates revenue for the government." Gupta said in an interview with PTI on Thursday. The policy will be such that it does not cause any problems to the people and society at large, she said. "In some states, excise policies are doing fine. We will follow these best excise policies of different states."The BJP came to power in Delhi in February, ousting the Aam Aadmi Party […]

[ad_1] Elon Musk-founded Tesla has discontinued accepting fresh orders for its Model S and Model X vehicles via its Chinese website, as reported by Reuters on Friday, amid escalating trade tensions between the world's leading economies.Customers can no longer place orders for these imported models through Tesla's WeChat mini programme account. Both vehicles are manufactured in the United States before being exported to China.The firm offered no explanation for this decision, which coincides with China's implementation of 84% tariffs on US products, following Trump's imposition of 145% duties on Chinese imports.The American automotive manufacturer produces Model 3 and Model Y vehicles at its Shanghai facility, serving both domestic Chinese market and European exports, which constitute the bulk of its sales.According to Li Yanwei, an analyst at the China Auto Dealers Association, China imported 1,553 Model X cars and 311 Model […]

[ad_1] NEW DELHI: India's GDP growth forecast for 2025 has been revised downwards to 6.1% from the earlier 6.4%, citing the impact of the US tariffs if they are implemented fully after the 90-day freeze announced by US President Donald Trump, Moody's Analytics said on Thursday.But it also said that it expects overall growth to be relatively insulated from the shock since external demand makes up a relatively small portion of GDP."The US is one of India's largest trading partners, so a 26% tariff hovering over imports of Indian goods will heavily impede the trade balance. Gems and jewellery, medical devices and textile industries will be among the worst hit," the agency, which is an arm of Moody's said in a latest report on the impact of the bruising tariffs on Asia Pacific economies.The agency said that it expects the […]

[ad_1] BENGALURU: TCS CEO K Krithivasan indicated caution mixed with optimism regarding the current demand environment even as the IT major crossed the $30-billion revenue milestone in FY25. For FY25, TCS's revenue grew by 4.2% in constant currency compared to 3.4% in the previous year. However, for the March quarter, growth significantly slowed to 2.5% from 3.6% and 5.5% respectively in the preceding two quarters, impacted by curtailed discretionary spending and deferred decision-making. "Overall, while we had a de-growth of 0.8% on a sequential basis, all the major markets and most industry verticals grew. Based on the order book we've announced and the deals we've signed, while there could be some short-term uncertainty, FY26 will be a better year than FY25. Until Feb, we were quite positive and very optimistic about the quarter. However, in March, we started seeing some […]

[ad_1] NEW DELHI: Tatas-owned Jaguar Land Rover (JLR) entered the Top 3 luxury car ranking by surging ahead of German Audi, with the category crossing the psychological 50,000-unit mark in FY25 for the first time by registering 3% growth in the financial year.While sales have started to slow down from Jan-March '25 quarter as the stock markets took a beating and some concerns started to build up around the economy, the industry still managed to post growth for full fiscal, registering sales of 51,406 units.JLR has shown healthy performance, despite near absence of Jaguar models with availability of only a few units of F-Pace. SUVs of Land Rover led the growth. JLR sold 6,183 units in FY25 at a growth of 40% (4,417 units in FY24), ahead of Audi's 5,990 units, where numbers declined by 15% (7,027 in the previous […]

[ad_1] NEW DELHI: The Delhi government’s proposed move to banish auto-rickshaws —‘autos’ in common parlance — running on CNG (compressed natural gas) has sent shock waves through the city gas distribution industry as it can set off a domino effect, threatening the viability of massive investments in existing and under-construction networks throughout the country if other states follow suit.The draft of the electric vehicle policy being readied by the city government, among other measures, proposes to stop registering new CNG autos and renewing registration of 10-year-old CNG three-wheelers from August 15, unless the latter are retrofitted with battery-electric traction.Industry representatives said in Delhi, the short lead time will lead to public transport chaos as two-thirds of the roughly 90,000 autos could hit the 10-year mark or need renewal by the proposed deadline.“Buying a new electric auto is a costly proposition. […]

[ad_1] NEW DELHI: Essar group venture GreenLine Mobility Solutions Ltd, India’s sole operator of LNG- and electric-powered heavy commercial trucks, has announced a $275 million equity investment, to accelerate the decarbonisation of heavy trucking in India.The invesetment includes $20 million from Nikhil Kamath, marking a significant boost to transformation of India’s logistics, the company said on Thursday. GreenLine aims to decarbonise India’s transportation sector, which contributes nearly 15% of the country’s total carbon emission. The funding will enable the deployment of over 10,000 LNG and EV trucks, along with the establishment of a nationwide network of 100 LNG refuelling stations, EV charging stations, and battery swapping facilities. This comprehensive initiative aims to reduce 1 million tonnes of carbon emissions annually.The company offers its logistics services at cost parity with diesel trucks, ensuring that customers can reduce carbon emissions without incurring […]

[ad_1] China responded quickly to Trump’s tariffs, but its countermeasures were limited in scope. US President Donald Trump on Wednesday paused sweeping tariffs on most nations—but pointedly excluded China, jacking up levies on Beijing to a punishing 125%. China, in turn, hit back with retaliatory tariffs of 84% and vowed to “fight to the end.”China on Thursday called on the United States to meet it “halfway” in the escalating trade war. “The door to dialogue is open, but it must be based on mutual respect and conducted in an equal manner,” said commerce ministry spokeswoman He Yongqian.“The US tariffs seriously damage the rules-based multilateral trading system, and seriously impact the stability of the global economic order,” said foreign ministry spokesman Lin Jian. “This is a blatant act that goes against the will of the world and goes against the whole […]

[ad_1] NEW DELHI: India’s largest IT services firm, Tata Consultancy Services (TCS), reported a marginal 1.68% drop in consolidated net profit to Rs 12,224 crore for the quarter ended March 2025. The company’s revenue stood at Rs 64,479 crore in Q4 FY25, a 5.3% increase year-on-year, signaling moderate growth as global economic uncertainty continues to loom.For the full financial year FY25, however, TCS posted a 5.76% rise in net profit to Rs 48,553 crore, with revenue touching Rs 2,55,324 crore—up 5.99% year-on-year.“We are pleased to cross the $30 billion mark in annual revenues and secure a strong order book for the second consecutive quarter,” said CEO K Krithivasan. He highlighted TCS' strengths in AI, digital innovation, and deep customer relationships as critical in navigating macroeconomic uncertainty.TCS onboarded 42,000 trainees in FY25, according to CHRO Milind Lakkad. The board also declared […]

[ad_1] US President Donald Trump wants other countries to import more American beef and poultry. Several countries have restricted importing these products for decades because they don't meet their food safety regulations.In an announcement on April 2, Trump called out Australian restrictions on US beef, saying: "We imported $3 billion [€2.7 billion] of Australian beef from them just last year alone. They won't take any of our beef." His administration also singled out the UK and EU for "non-science-based" restrictions on importing US beef, and Argentina for its ban of live US cattle exports.Trump has used these import bans as part of his rationale to impose new trade tariffs.Why do countries ban US beef imports?There are different reasons why Australia, Argentina, the European Union and the United Kingdom don't import some American beef products.For Australia and Argentina, the restrictions date […]