India needs to review the overall taxation of premium luxury vehicles, which is slowing the growth of such vehicles in the country, said Martin Schwenk, MD & CEO, Mercedes-Benz India. “Duties, schemes, taxation is a massive burden… that is slowing the growth. So, we will have growth, but will not have exponential growth,” Mr. Schwenk … Read more
Amid record-high fuel prices, finance minister Nirmala Sitharaman on Monday said there is no proposal as of now to bring crude oil, petrol, diesel, jet fuel (ATF) and natural gas under the Goods and Services Tax (GST). When the GST was introduced on July 1, 2017, amalgamating over a dozen central and state levies, five … Read more
India will require e-commerce firms to treat sellers equally on their platforms and ensure transparency, according to a draft policy seen by Reuters on Saturday that follows criticism against business practices of big online companies. India has been deliberating a new e-commerce policy for months amid complaints from brick-and-mortar retailers who allege online giants like … Read more
The wealth of Mark Zuckerberg, Elon Musk, and others rose beyond $360 billion during the pandemic. Oracle and Dell’s leaders are among the other tech billionaires to have profited last year. Their wealth has attracted scrutiny amid systemic inequality in the US. The pandemic has been a crisis for many, but not for America’s wealthiest … Read more
Roblox, the gaming platform that soared to 32.6 million daily users, is going public this Wednesday. In 2020, the company paid out more than $328.74 million to Roblox game developers. Roblox games are built by independent developers – helping some teens pay for college. Read more on the Insider homepage. The wildly popular gaming platform … Read more
Remember Zandu balm? Back in 2008, Nihar Parikh had no inkling about the ferocity of the takeover battle between his family and Kolkata based who had raided their family’s crown jewel – the 10 year old OTC and ayurveda company Zandu Pharmaceuticals, makers of the eponymous pain relief balm, chyawanprash etc. Like most 22-year olds, … Read more
Edinburgh-based firm Baillie Gifford took early bets in some of last year’s biggest winners. Tesla, Moderna and Alibaba have made the firm profits of around $27.6 billion – Bloomberg data. The Baillie Gifford team told Insider their 3 tips to making a success of active investing. Visit the Business section of Insider for more stories. … Read more
The government is likely to amend the telecom licence norms this month to incorporate the guidelines of national security directive on telecommunication sector that will help in controlling installation of network equipment from China and other non-friendly countries. Under the provisions of this directive, the government will declare a list of trusted sources and trusted … Read more
Former Bessemer investor Sunil Nagaraj was in the middle of making a presentation when he started receiving a flood of messages. “I finished my presentation, glanced at my email, and I saw a bunch of congrats emails. My heart skipped a beat – I said, ‘Oh my God, what happened?” Nagaraj told Insider. “I looked … Read more