Moody's sees India attracting trade, invest flows redirected from China

India's improved investment climate will make it an attractive destination to capture trade and investment outflows from China, Moody's Ratings said in a report dated Monday. This will allow the National Democratic Alliance-led coalition government to continue its policy focus from its previous term, the agency said in its 2025 outlook for global sovereigns. Register to read

Sept FDI inflows into India fall to $5.98 bln vs $6.15 bln year ago

Gross foreign direct investment into India in September was $5.98 billion, down from $8.61 billion in August, provisional data released by the Reserve Bank of India showed Wednesday. In September last year, gross FDI investment into India was $6.15 billion. Register to read

RBI staff warns of food price spillovers, says inflation hitting consumption

Inflation in India is already "biting into" urban consumption demand, corporates' earnings and capital expenditure, and there are early signs of spillovers of high food prices, the Reserve Bank of India staff said in a paper. And, if inflation is "allowed to run unchecked, it can undermine the prospects of the real economy, especially industry and exports," said the paper on the 'State of the Economy' in RBI's bulletin for November, which was released on Wednesday.Register to read

SC allows telecom cos CENVAT credit of duty on towers, other accessories

In a relief for Bharti Airtel Ltd., Vodafone Idea Ltd. and others, the Supreme Court Wednesday held that telecom companies are entitled to central value-added tax credit of central excise duty paid on towers, their parts, green shelter, printers and office chairs. With this judgement, the apex court rejected the Bombay High Court's 2014 ruling that towers and green shelter were "immovable property", and hence did not qualify as "capital goods" or "inputs" as defined under the Cenvat Credit Rules, 2004. The court favoured the view of the Delhi High Court in 2018, which said that companies can avail central value-added tax credit on telecom towers and other accessories. Register to read

UltraTech Cement may tap mkt with 10-yr bond by next week to raise INR 10 bln

UltraTech Cement Ltd. plans to tap the corporate bond market after a gap of more than three years, multiple sources in the know told Informist. The country's largest cement company is likely to raise INR 10 billion through bonds maturing in 10 years.Register to read