The Income Tax department is has reportedly laid claim to nearly $ 2.5 billion (Rs 13,000 cr) in tax money from Nokia, which has been struggling to pull its bottom line up. In the third quarter, Nokia reported a $754 million operating loss on a topline of $9.49 billion.
Misener discussed the possibility of changes to the policy, which currently does not allow them to do business in India, reports The Wall Street Journal. After intense debates in September, the Indian government had paved way for foreign investor’s to own more than 51% in multi brand retail companies in India.
It has also expressed “grave concerns” about private companies being mandated to domestically source IT products in some instances due to security reasons.
Corporate bribery is a reality in India, and foreign companies with exceptionally clean track record and image also fall victim to the culture of corruption in India, out of necessity. Payment of a “fee” to “consultants” seems to be the most common channel of financing bribes – as evidenced again in the Walmart case.
This year was a meaningful one for ecommerce in India. From the launch of Amazon’s Junglee.com to the acquisition of Letsbuy by Flipkart, the year 2012 saw consolidation, acquisition, policy changes, behavioral shift and a profound change in the e-commerce business model.
To understand how the technology landscape will shape up in the coming year, we spoke to Biswajeet Mahapatra, Research Director at Gartner. Edited excerpts.
Government to transfer dole directly to your account using Aadhar from January 2013 [Direct cash transfer]
The government has announced that all departments which transfer benefits to individual citizen must quickly move to an Aadhaar based payment platform and start implementing direct cash transfers to beneficiaries. It means that people who get government pensions, subsidies and…
There is renewed interest to Invest in India: Samir Kumar, Managing Director, Inventus Advisory Services
In an interview with Pluggd.in, Samir Kumar, Managing Director of Inventus (India) Advisors shares his thoughts on immediate plans, the investment climate in India and the evolution of the startup ecosystem.
If you are a startup looking to hire some management graduates, this might be the best time to do so. Turns out, that the lull in the job market is a doing some good. Top management schools are encouraging their students to take up startup jobs.
How many of SMEs have a computer and out of that how many of them have broadband? The number shrinks to 2 million. We are looking at that market first.