Business in India

Business in India, one the fastest growing economies, has been growing faster ever since 'economic liberalisation' opened the floodgates of worldwide trade in 1991. Tremendous scope for business exists in India, which boasts of being the 10th largest economy of the world in terms of market exchange rate and third largest on the count of Purchasing Power Parity.

India is rapidly surging ahead on the global economic front and thus brandishes great business opportunities in all sectors. Its mighty, second largest labour class in the world with 48.66 crore workmen, is poised to attract massive foreign investments. Business houses and multinational corporations across the globe have great expectations' from India’s burgeoning economic prowess.


India Business News

Budget 2019-20 Updates
Finance Minister Nirmala Sitharaman presented the Union Budget 2019-20 of Modi 2.0 government on July 05, 2019 at 11:00 AM        ..Read More
According to the Economic Survey
According to the Economic Survey, India needs to sustain a real time GDP growth rate of 8% in order to become a US$ 5 trillion economy by 2024-25 Read More
75% Tech leaders turning to the cloud in 2018
According to CIO Jury, 75% of the tech leaders are planning to move more systems to the cloud in the year 2018 for cost savings and convenience. As ..Read More
New R N D hub to be set in Ireland by Tata Motors' Jaguar Land Rover
Tata Motor's Jaguar Land Rover is pondering to set up a new Software hub at Shannon in Ireland. The company has wider plans to invest in driver-..Read More
Budget 2018: Former RBI governor Bimal Jalan says Government has to maintain the balance between both fiscal and economic growth
  As the budget of 2018 is about to be released, various statements are being given by people indicating their expectations. According to the..Read More
Transamerica enters into an agreement with TCS
The US Subsidiary of Aegon, which is commonly known as “Transamerica”, has partnered with Tata Consultancy Services. The agreement is ma..Read More
Investment Banking and Broking Biz: Mirae Asset Group to foray into PE
Mirae Asset Group is the top performer in mutual fund category in India. This group is planning to foray into broking business. This group already i..Read More
Hike witnessed in the prices of Maruti Suzuki
There is an increase of around Rupees 17,000 (Rs. 1700 to 17,000 as per models) in the price of various models of Maruti Suzuki which is the largest..Read More
Best Prepaid plans offered by Jio, Airtel and Vodafone for heavy data users
Airtel, Jio, and Vodafone are in a tough competition in the year 2018. Airtel has revised its plan of Rupees 399 and is providing similar facilities..Read More
Hurdles in the path of expansion of Tata Airlines
Various hurdles like unavailability of slots and limited bilateral flying rights are going to hamper the path of expansion of the two Tata group-own..Read More
Indian Australian startup plans to raise 3 million dollars for global marketing
An Indian-Australian startup, which was rated among the top three in Healthcare segment during 'InSpreneur 2018' held in Singapore on Januar..Read More
Brain to Vehicle(B2V) technology: Nissan is working to execute it
The multinational automobile company Nissan is working on making a car which would be able to read the driver's mind. The brain of the driver wi..Read More
Patanjali to provide a grand push to its swadeshi range of FMCG products
Patanjali is planning to give a grand push to its range of made in India (Swadeshi) products by initiating a partnership with 8 giant online retaile..Read More
Eveready to launch its new confectionery product named - Jollies
It was reported on Monday that Eveready is all set to enter the confectionery segment. It has planned to launch its new fruit-chew named “Joll..Read More
Travis Kalnick, the co-founder of Uber Technologies soon to become a billionaire
It is reported that former Uber Technologies Inc. Chief Executive Officer Travis Kalanick is going to sell nearly half of his shares of Uber Technol..Read More
Rise in the demand for Cyber Insurance in India
According to reports, it is witnessed there is a rise in demand for Cyber Insurance cover in 2017, which is 50% more when compared with the figures ..Read More
December was driven by a heavy demand for vehicles
It was reported that the Automobile manufacturers have received a healthy sale for the month of December 2017. It is due to the robust demand along ..Read More
Amazon to enter into the business of Drug Prescription
As per analysts, Amazon, the biggest E-commerce and cloud computing company, is going to enter the business of drug prescription. As per media repor..Read More
By next month, American crude oil's first shipment will reach India
After the former president of the US, Barack Obama lifted the 40-yr-old ban on its export, the first shipment of crude oil to India worth USD 100 mi..Read More
Snapdeal launches mobile marketplace, Shopo
Aiming to help small businesses find their customers, e-commerce portal Snapdeal on Wednesday launched 'Shopo', a mobile-based marketplace. ..Read More
BSE cracks down on 530 companies without a woman director
Stock exchange BSE has cracked the whip on 530 companies that have not appointed a woman director, asking them to pay up the fine for non-compliance..Read More
Sensex provisionally closes more than 265 points up
Hopes of a rate cut and expectations of importing cheaper oil from Iran after it signed a nuclear deal with the world powers cheered the Indian equi..Read More
Kerala institute offers training for masons, engineers
A Kerala institute set up at a cost of Rs.100 crore will provide skill development courses for masons, diploma holders and engineers, a minister sai..Read More
Branding Nano as cheap car was wrong: Tata
Branding Tata Motors small car Nano as a cheapest car was a mistake and was one of the reasons for the model not taking off as expected, Ratan Tata,..Read More
Telecom minister to open Infocom meet Thursday
Communications and Information Technology Minister Ravi Shankar Prasad will on Thursday inaugurate a two-day conference on business, technology and ..Read More
Individual resident aged below 60 years or any NRI/ HUF/ AOP/ BOI/ AJP*
Annual IncomeTax Rates
Up to Rs.2,50,000Nil
Rs.2,50,001 - Rs.5,00,0005%
Rs.5,00,001 - Rs.10,00,000Rs.12,500 + 20%
Above Rs.10,00,000Rs.1,12,500 + 30%
In case of a resident senior citizen (who is 60 years or more but less than 80 years)
Annual IncomeTax Rates
Up to Rs.3,00,000Nil
Rs.3,00,001 - Rs.5,00,0005%
Rs.5,00,001 - Rs.10,00,000Rs.10,000 + 20%
Above Rs.10,00,000Rs.1,10,000 + 30%
In case of a resident super senior citizen (who is 80 years or more)
Annual IncomeTax Rates
Up to Rs.5,00,000Nil
Rs.5,00,001 - Rs.10,00,00020%
Above Rs.10,00,000Rs.1,00,000 + 30%
TDS should be deducted at applicable rates as above along with surcharge and Education Cess.
Rebate under Section 87A
Surcharge: 10% of the Income Tax, where the taxable income is between Rs. 50 lakhs and Rs. 1 crore. However, the amount of Income Tax and Surcharge will not raise the amount of income tax that is payable on a taxable income of Rs. 50 lacs by more than the amount of increase in taxable income. 15% of the Income Tax, where taxable income is in excess of Rs. 1 crore. However, the amount of Income Tax and Surcharge will not raise the amount of income tax that is payable on a taxable income of Rs. 1 crore by more than the amount of increase in taxable income. Education Cess: 3% of the total of Income Tax and Surcharge. * Abbreviations used: NRI - Non Resident Individual; HUF - Hindu Undivided Family; AOP - Association of Persons; BOI - Body of Individuals; AJP - Artificial Judicial Person

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Last Updated: July 30, 2019