Business Industry

Government Reduces GST on Movie Tickets to Support Film Industry

By BPN News Desk February 13, 2025

In a recent parliamentary session, Finance Minister Nirmala Sitharaman addressed concerns regarding the taxation of movie tickets, highlighting efforts to support the film industry through tax rationalization. GST Reduction on Movie Tickets The Finance Minister emphasized that the Goods and Services Tax (GST) on movie tickets priced above ₹100 was reduced from 28% to 18%

Trade

India Develops Sanctions-Proof Supply Chain for Russian Oil

By BPN News Desk February 13, 2025

Indian oil refiners are restructuring supply chains, creating new entities, and exploring alternative payment methods to maintain Russian crude imports amid tightening international sanctions.

Industry

Zero Tariffs Could Boost India’s Competitiveness in Semiconductor Manufacturing: U.S. Semiconductor Industry Association

By BPN News Desk February 13, 2025

The U.S. Semiconductor Industry Association emphasizes that eliminating tariffs on semiconductor components and equipment is essential for India to enhance its global competitiveness in chip manufacturing.

Business Industry

Rado CEO Highlights India’s Emergence as Leading Market

By BPN News Desk February 12, 2025

In a recent interview, Adrian Bosshard, CEO of Swiss luxury watch brand Rado, emphasized India’s significant position as a leading market for the company. He highlighted the country’s growing appreciation for luxury timepieces and its contribution to Rado’s global sales. India’s Growing Affinity for Luxury Watches Bosshard noted that India’s

Business Industry

Lam Research Commits ₹10,000 Crore to Semiconductor Manufacturing in Karnataka

By BPN News Desk February 12, 2025

In a significant boost to India’s semiconductor industry, U.S.-based Lam Research has announced an investment exceeding ₹10,000 crore (approximately $1.2 billion) to establish semiconductor equipment manufacturing facilities in Karnataka. This strategic move aligns with India’s vision to become a global hub for semiconductor manufacturing. Investment Details

Business Industry

L&T Chief Highlights Labor Reluctance to Relocate

By BPN News Desk February 12, 2025

At a recent industry summit in Chennai, SN Subrahmanyan, Chairman and Managing Director of Larsen & Toubro (L&T), expressed concerns over the growing reluctance among construction laborers to relocate for work. He attributed this trend to the availability of welfare schemes and a preference for comfort, which pose significant challenges to India’s

Business Industry

Apple Shifts MacBook Production to India Over Vietnam

By BPN News Desk February 11, 2025

Apple has revised its MacBook production strategy, scaling back planned expansion in Vietnam while increasing manufacturing efforts in India. This move marks a significant shift in its global supply chain strategy as the company seeks to optimize production across multiple regions. Apple Reduces Expansion in Vietnam Initially, Apple had planned to expand MacBook production

Business Industry

Bajaj Group to Invest ₹10,000 Crore in Hospital Chain

By BPN News Desk February 11, 2025

The Bajaj Group has announced a major investment of ₹10,000 crore to establish a nationwide chain of hospitals, marking its entry into the Indian healthcare sector. This move aims to enhance healthcare accessibility and contribute to the growing demand for quality medical services in the country. Strategic Vision for Healthcare Expansion The planned investment will […]

Business Finance

Rupee Rises Above 87 Against USD After RBI Intervention

By BPN News Desk February 11, 2025

The Indian rupee reclaimed the 87-mark against the U.S. dollar in early trade, supported by aggressive intervention from the Reserve Bank of India (RBI). The central bank’s actions helped reverse recent losses, bringing temporary relief to the currency amid global economic pressures. RBI’s Intervention and Market Response The rupee had recently faced downward

Business Industry

Meta Initiates Layoffs Targeting 5% of Workforce

By BPN News Desk February 10, 2025

Meta Platforms, the parent company of Facebook, has commenced a series of layoffs impacting approximately 5% of its global workforce. This move aligns with CEO Mark Zuckerberg’s strategy to “raise the bar on performance management” by expediting the departure of employees not meeting performance expectations. Implementation of Layoffs The layoffs began on