News – Page 7 – SMEConnect Portal and Magazine

Recession coming soon? Here’s what CEO of biggest US Bank said about its possibility in US, China and India

October 4, 2024SMEConnect-DeskLeave a Comment

JP Morgan CEO Jamie Dimon, in an interview, highlighted global economic concerns, particularly the persistence of inflation and geopolitical risks. He emphasized the importance of geopolitical factors over financial markets in shaping the future, while acknowledging the strength of the US economy. Dimon also expressed optimism about India’s economic progress, citing reforms like Aadhaar and […]

Modi Initiates Rs 80 bn infrastructure development in Ahmedabad

October 4, 2024SMEConnect-DeskLeave a Comment

Prime Minister Modi has launched and laid the foundation for multiple developmental projects in Ahmedabad, Gujarat, collectively valued at over Rs 8,000 crores. These projects span various sectors, including railways, roads, power, housing, and finance. Among the key highlights, Modi inaugurated India’s first Namo Bharat Rapid Rail service from Ahmedabad to Bhuj and introduced several […]

Intimation Under Section 143(1) of Income Tax Act

October 4, 2024SMEConnect-DeskLeave a Comment

Section 143(1) of the Income Tax Act, 1961 is essentially a computer-generated automated message which lets the taxpayer know of any error that exists in his/her tax filing. It also tells the taxpayer if he/she has any interest that is payable. Anytime someone receives a notice from the Income Tax Department, there seems to be an overwhelming […]

India’s manufacturing incentives progress amid efforts to cut China imports

October 4, 2024SMEConnect-DeskLeave a Comment

Incentives have resulted in production worth about Rs 11 trillion ($131.6 billion) and nearly one million jobs over four years. India’s cash incentives to boost domestic manufacturing have attracted over $17 billion of investment since 2020 launch of the production-linked scheme, a Government official said, amid efforts to reduce imports from China. The scheme, which […]

India’s foodgrain production hits record 332.22 MT in 2023-24: Govt:

September 30, 2024October 1, 2024SMEConnect-DeskLeave a Comment

The Ministry attributed decline in pulses, coarse cereals, soybean and cotton production to drought-like conditions in Southern States, like Maharashtra and prolonged dry spell during August. India’s foodgrain production reached a record 332.22 million tons in the 2023-24 crop year ended June, driven by bumper wheat and rice output, the Agriculture Ministry said on Wednesday. […]

India’s finished steel imports from China hit 7-year high in April-August, data shows:

September 30, 2024October 1, 2024SMEConnect-DeskLeave a Comment

India’s finished steel imports from China reached a seven-year high in the first five months of the 2024/25 financial year, according to provisional Government data. Overall imports hit a six-year high at 3.7 million metric tons, driven by strong demand from infrastructure and automotive sectors. Domestic consumption also surged, while exports declined. India’s overall finished […]

India’s defence production hits record Rs 1.27 lakh crores with global exports to over 90 countries:

September 30, 2024October 1, 2024SMEConnect-DeskLeave a Comment

India’s defence production has reached a record high of Rs 1.27 lakh crore in 2023-24, with exports to over 90 countries. Defence Minister, Rajnath Singh highlighted the success of the ‘Make in India’ program, which aims to make India self-reliant and boost domestic defence manufacturing. India’s defence production hit a record high of Rs 1.27 […]

How Small-Town Indian Startups Are Becoming the Next Frontier?

September 30, 2024October 1, 2024SMEConnect-DeskLeave a Comment

From agritech to healthtech and edtech, explore the booming sectors in smaller cities and the opportunities they offer for startups. Learn how entrepreneurs are thriving in these regions, solving local problems, and driving economic growth. India’s startup revolution, once confined to the tech parks of Bengaluru or the financial corridors of Mumbai, is now spreading […]

Frenzied retail demand pushing SME IPOs to dangerous heights: Sunil Subramaniam

September 30, 2024October 1, 2024SMEConnect-DeskLeave a Comment

This is exorbitant profit making. So, I think the regulator has to first put curbs on the merchant bankers. As you are saying, diligence of them and if they have found fault, there should be severe and strict punishment on the institutional piece of the business, that is one. Second is what this is also […]

BSE to merchant bankers: Ensure due diligence on SME IPOs

September 29, 2024October 1, 2024SMEConnect-DeskLeave a Comment

BSE has warned merchant bankers that sometimes discrepancies have come to light, and that due diligence based on SEBI guidelines needs to be followed. In a potential sign that stock exchanges are tightening regulations on SME issuers, the BSE has cautioned that merchant bankers should conduct thorough due diligence before submitting draft papers, according to […]