Indian

Economy to reach pre-Covid-19-levels by end of FY2022: Niti Aayog

Dec 6, 2020

India’s economy recovered faster than expected in the September quarter as a pick-up in manufacturing helped GDP clock a lower contraction of 7.5 per cent and held out hopes for further improvement on better consumer demand.

Foreign funds colonising Indian startups: Naukri.com founder Bikhchandani

Dec 6, 2020

Internet entrepreneur Sanjeev Bikhchandani says an estimated Rs 17 trillion of market cap has been transferred abroad after young Indian start-ups were forced to shift their company domicile overseas by foreign investors promising the funds they need for growth.

“Shades of the East India Company type of situation here – Indian market, Indian customers, Indian developers, Indian workforce. However 100% foreign ownership, foreign investors. IP and data transferred overseas. Transfer pricing issues foggy,” Internet entrepreneur Sanjeev Bikhchandani tweeted.

Job cuts, salary adjustments in COVID-19 aftermath not as widespread as expected: Report

Dec 6, 2020

“Despite the severe impact on revenue and cash, very surprisingly, the display of compassion and community outreach have produced a spontaneous level of commitment and loyalty from employees and job cuts and salary adjustments have not been as widespread an occurrence as originally apprehended,” said the report.

4 of 5 cyclones this year were in severe cyclonic storms category and above

Dec 6, 2020

India Meteorological Department (IMD) Director General Mrutunjay Mohapatra said since 1990 four cyclones have formed every year in the seas along the eastern and western coasts (Bay of Bengal and Arabian Sea) of the country.

“It is normal to have five cyclones a year,” he said.

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