Latest news with #SubhayanChakraborty
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Business Standard
2 days ago
- Business
- Business Standard
Petroleum product export earnings fell 13.4% to $3.3 bn in May: PPAC
Lower global crude prices reduced May petroleum export earnings to $3.3 billion even as outbound and import volumes rose and crude processing remained steady Subhayan Chakraborty New Delhi Listen to This Article Despite a rise in outbound trade volumes, lower global crude oil prices pulled down earnings from the export of refined petroleum products in May, latest data released by the Petroleum Planning and Analysis Cell (PPAC) showed. Receipts from petroleum exports fell 13.15 per cent to $3.3 billion in May, down from $3.8 billion in May 2024. In May, Brent crude prices hovered between $60 and $62 per barrel, compared to $80 per barrel a year earlier. As a result, there was a fall in the export of aviation turbine fuel and high speed diesel. In contrast, earnings had risen by
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Business Standard
5 days ago
- Business
- Business Standard
Trai caps Wi-Fi tariffs to boost PM-WANI and align with FTTH rates
Says high tariffs charged by telcos and ISPs have hindered the spread of the PM-WANI scheme; new rules cap prices for public Wi-Fi providers to enable affordability Subhayan Chakraborty New Delhi Listen to This Article Aiming to expand the PM-WANI scheme, the Telecom Regulatory Authority of India (Trai) on Monday introduced a cap on tariffs charged by telecom operators and internet providers from Public Data Offices (PDOs) that provide public Wi-Fi services. The tariffs have now been aligned with retail tariffs for broadband Fibre to the Home (FTTH). The move comes after the Department of Telecommunications (DoT) informed Trai that the proliferation of the PM-WANI scheme was significantly below the envisaged targets. One of the reasons cited was the high cost of internet connectivity charged by Telecom Service Providers (TSPs) and Internet Service Providers (ISPs).
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Business Standard
13-06-2025
- Business
- Business Standard
No immediate impact of Iran-Israel clashes on India's crude supply
Officials say India's crude and LNG imports remain steady but warn that any hostilities affecting the Strait of Hormuz could threaten oil flows from Gulf partners Subhayan Chakraborty New Delhi Listen to This Article The latest flashpoint in West Asia is not expected to affect India's overall crude oil and liquefied natural gas (LNG) supply, which remains 'healthy', nor its imports from the Gulf, officials said. 'Inbound volumes are not expected to be impacted. We also have a good stock in line with our medium-term demand estimates. We are monitoring the situation,' a Petroleum Ministry official said. The crisis also does not threaten India's imports directly, as it does not procure crude oil from Iran, given the difficulties in making payments to the heavily sanctioned Islamic regime in Tehran, he pointed out.
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Business Standard
11-06-2025
- Business
- Business Standard
India to draft AI-native telecom rules, partners with ITU on 6G push
DoT officials say India is working with the ITU on research and standards for AI-native networks as it prepares for 6G and stakes a claim in global satcom policy Subhayan Chakraborty New Delhi Listen to This Article India plans to drive research and frame guidelines for the creation of artificial intelligence (AI)-native telecom networks, Department of Telecommunications (DoT) officials said on Wednesday. Speaking at an International Telecommunication Union (ITU) event, officials said India has begun collaborating with the ITU on AI integration in network architecture, particularly in the context of 6G. 'The focus group on AI-native networks will pursue several key objectives—researching AI integration in network architecture, identifying new use cases, addressing challenges and gaps, and collaborating with other standard development organisations and industry groups to ensure a unified approach to AI networking,' said Shubhendu
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Business Standard
29-05-2025
- Business
- Business Standard
Need tax resolution scheme for corporates, industry: Sunil Bharti Mittal
Says government must launch Vivad se Vishwas scheme for corporates to release locked funds, backs a uniform 25% tax rate and 'one nation, one election' for economic efficiency Subhayan Chakraborty Delhi The government should introduce a Vivad se Vishwas-style tax scheme for India Inc. to free up the 'lakhs of crores of rupees' currently tied up in corporate litigation, Bharti Enterprises Chairman Sunil Bharti Mittal said on Thursday. Speaking at the CII Annual Business Summit, Mittal also said it was surprising that many corporates had not shifted to the 25 per cent corporate tax rate. Introduced by the government in 2024 to resolve pending appeals in income tax disputes, the VSV scheme should be reimagined for corporate India so that the Centre can secure 'very large amounts of money that can be put to good use now', Mittal stressed. 'Maybe the government will win in 10 years' time and that money may become available to it then. Why not settle it now on the lines of the VSV?' he said, adding that such a step would release the industry from past litigations and allow it to focus on the future. Mittal's comments carry significance given that Bharti Airtel and Bharti Hexacom continue efforts to reduce the ₹43,980 crore in adjusted gross revenue (AGR) dues owed to the Centre. As part of a broader tax reform initiated in 2016–17, the Centre had, through the 2019–20 Budget, extended the simplified 25 per cent rate—provided exemptions were foregone—to all domestic companies with an annual turnover of up to ₹400 crore, up from ₹250 crore. The policy was aimed at benefiting approximately 99.3 per cent of Indian firms, but many have yet to transition to the new regime. 'Let's also get rid of the old fascination with those exemptions and move on to a simplified flat 25 per cent tax rate,' Mittal said. Mittal also argued that India loses valuable economic opportunities during election months each year and called on industry to support the idea of 'one nation, one election'. Need to be reasonable on FTAs On trade, Mittal pointed out that ongoing bilateral talks for free trade agreements (FTAs) with the United States, European Union, and Saudi Arabia were in advanced stages. He urged industry associations not to demand provisions that could complicate the negotiations. 'We should have a reasonable outcome for those markets to open up for Indian companies, as we open our markets,' he said. At the same time, he strongly advocated for import substitution, arguing that every rupee of import saved by manufacturing domestically results in an equal amount of foreign exchange saved. Digital opportunity amid migration barriers Mittal also noted that global openness to immigration was shrinking, despite ageing populations worldwide. 'Our young people, our engineers, our trained professionals—nurses, doctors, teachers—are not going to get as easy access as they've had in the past. Thankfully, the world has moved to a digital medium. From the comfort of their homes in cities or villages, they can now serve the globe,' he said. Focus on job creation and regional potential Addressing a large audience of industry leaders, Mittal emphasised the need to prioritise job creation. 'One and a half million engineers are being produced in the country every year—more than the US and China put together. All of them need to be harnessed. This energy needs to be harnessed,' he said. He also urged industry to invest more in tapping the hydrocarbon potential of India's North-East.
