The Goods and Services Tax (GST), which got introduced on July 1, is expected to be a good turn for the organised logistics players going forward. The logistics industry in India is likely to grow at a rate of 9-10 per cent over the medium-term, supported by underlying structural p…
Tag: ICRA
GST Impact: India’s small businesses struggle with tax revolution
The government has vowed that the goods and services tax (GST) will transform the economy by bringing more businesses into the digital system and filling state coffers, but for shopkeeper Sanjay Kumar Rai, who has never used a computer, the transition is terrifying. Rai is one of hundreds of thou…
Textile scrips rise on revival in sentiment
The share price of textile companies jumped by up to 10 per cent on March 23, on the expectation of a sharp recovery in textile and apparel export in the coming months, due to less shipment from China. The domestic market is also gradually overcoming the dull demand sentiment which had arisen out…
Demonetisation Effect | 400,000 jobs to suffer; e-Commerce to be worst hit
With demonetisation set to reduce India’s economic growth by 1% over the next one year, the job market is likely to see over 400,000 job cuts. You should worry if you work in the e-commerce sector, since firms could handover around 200,000 pink slips in the next one year. “Cash on delivery being …
Currency demonetisation a near term snag for textile cos: ICRA Report
Demand for apparels is expected to slowdown in near term following the government’s decision to demonetise high value notes, and and winter-wear segment would be the worst affected, rating agency ICRA said in a report here. The adverse impact of the demonetisation on disposable incomes and …
SBI diktat to affect credit to small, medium-sized firms
The directive of the State Bank of India (SBI) to all associate banks that any credit proposal for above Rs.10 crore has to receive an approval of the Mumbai office of the SBI is likely to impact flow of funds to Micro, Small and Medium Enterprises (MSMEs). This has been sent as an advisory to [&…
3 small banks set to start operations
Three out of the 10 provisionally licensed small banks are set to begin operations in the next few months as they have met the regulatory requirements and put in place the systems needed. The Reserve Bank of India has issued the final licence to Capital Local Area Bank, Suryodaya and newly listed…
Textile industry awaits GST rate
The textile industry is watching to see what the final rate of tax under the proposed goods and service tax (GST) regime would be. This is because of the tax implications the new law will have on major input goods going into the textile production process such as cotton and man-made fibres. Accor…
Rs. 200 crore for Performance & Credit Rating Scheme to enable MSME credit access
Union MSME Minister Kalraj Mishra addressed a post-Budget press conference on March 08, 2016 in New Delhi and announced an all-time high budget of Rs. 200 crore for Performance and Credit Rating Scheme for financial year 2016-17. The allocation would enable units to be ready for accessing credit.…
Poultry industry is in consolidation mode, 5-7% growth expected | ICRA
ICRA’s research wing in its recent report expected that the domestic broiler meat demand would continue to grow at the rate of 5-7 per cent (value growth is expected to be higher at above 10 per cent) and table egg demand to grow at 4-5 per cent in long term. The transition from a predominantly […