Economy

HCL Technologies said its President & CEO C. Vijayakumar has been named Chairman of the IT industry Governors community of the World Economic Forum.

The Cabinet has approved the signing of the Memorandum of Understanding (MoU) between Republic of India and Brazil on cooperation in the field of oil and natural gas.

A delegation led by the Ambassador of Japan Satoshi Suzuki has discussed a wide range of Japan-funded projects in India’s North Eastern Region with the Minister of State Dr Jitendra Singh.

Public Sector Banks (PSBs), expecting improved earnings and new capital requirement not being sizeable, are expected to raise funds from the markets, said financial consultancy ICRA Ltd.

The Federation of Indian Export Organizations (FIEO) has presented its wishlist for 2020-21 Budget, calling for double tax deduction scheme for internationalization of MSMEs and more shipping capacity in the country.

To further boost investor sentiment and encourage investments, the Union Budget could announce a roadmap for convergence of all corporate tax rates to 15%, with no exemptions and incentives, by 1 April 2023, a senior industry official said.

The Czech Republic is seeking to become a strategic partner of India and work jointly for its economic development, especially through industries such as IT, logistics and manufacturing.

The Institute of Directors (IOD) has further reaffirmed already strong and growing India-Singapore business ties following its three-day convention held in the city state 16-18 Jan 2020.

Global investment firm KKR has committed to invest an additional US$150 million in KKR India Financial Services (KIFS), KKR’s alternative credit business in India.

PHD Chamber of Commerce and Industry President Dr D K Aggarwal expects RBI policy to spur investments and consumption demand in the coming times.