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A sixth-grade social science textbook that I read described India as a piece of fabric, with countless threads coloured in a myriad of majestic shades, woven together. This metaphor holds exceptionally well when put into the context of our <keyword id="22706215" type="General" weightage="20" keywordseo="handloom-industry" source="keywords">handloom industry</keyword>. India has a rich history of handlooms and weaving cultures. The culture of handlooms is so intricately woven into Indian culture, that there are whole towns dedicated to the same: <keyword id="248532" type="General" weightage="20" keywordseo="Chanderi" source="Orion">Chanderi</keyword> in Madhya Pradesh to Pochampally in Telangana and a dozen more! Unfortunately, the handloom industry in India is dying. The struggle is multi-faceted, ranging from a declining workforce to fierce competition from <keyword id="20496028" type="General" weightage="20" keywordseo="power-looms" source="keywords">power looms</keyword>. Hence, five years ago, August 7 was proclaimed <keyword id="22677698" type="General" weightage="20" keywordseo="National-Handloom-Day" source="keywords">National Handloom Day</keyword> in response to this crisis and to heighten public awareness. This date holds special historical significance, commemorating the initiation of the Swadeshi Movement in 1905—a pivotal act of defiance against British colonial rule. <h2>When did this industry come into existence?</h2>According to archaeological findings, the origins of handloom in the Indian subcontinent may be traced back to the Indus Valley Civilization. The Mughal Empire was known to support and patronise <keyword id="20258864" type="General" weightage="20" keywordseo="weavers" source="keywords">weavers</keyword>. The support from the royal patrons resulted in the invention of new textiles such as ‘Mulmul’ and ‘Banarasi Brocade’ among others. This era witnessed a heightened worldwide demand for Indian textiles. In the 17th century, India produced 25% of the world’s textiles, with Bengal accounting for more than 50% of textiles and 80% of silks imported by the Dutch from Asia. <h2>What led to the decline of the <keyword id="19934660" type="General" weightage="100" keywordseo="Indian-handloom" source="keywords">Indian handloom</keyword>?</h2>The East India Company's entry fuelled the industry's initial decline, which started in the 1830s. The weavers were obliged to sell only to the British, and that too at exceedingly cheap prices, virtually putting them out of business. On the other hand, Indian cloth was taxed excessively to promote machine-made British clothing. The Industrial Revolution in Britain strengthened their indigenous textile industry, giving rise to new markets for cheaper textiles. In India, the collapse of the Mughal aristocracies meant no access to royal patronage. As a result, textiles like Khadi and muslin had little demand in the market. Circling back to the present, the industry is facing both similar and new challenges. Fabrics made on power looms are cheaper and faster to produce, in comparison to handloom fabrics. The industry is largely unorganised, and the wages are shockingly low. 67% of <keyword id="22706216" type="General" weightage="20" keywordseo="handloom-workers" source="keywords">handloom workers</keyword> are earning less than the minimum wage every month. Faced with economic challenges, the older artisans are thus forced to encourage the newer generation to choose an alternative career path. This migration of the workforce from a traditional sector is evident from the fall in the number of weavers less than 35 years of age- from 26.13 lakh in 2009-10 to 16.07 lakh in 2019-20. The majority of weavers do not have access to banking facilities, let alone institutional credit. Furthermore, if one manages to accumulate credit, there is a mismatch between the supply and demand forces due to the lack of awareness about handwoven textiles in the current generation. <h2>Initiatives for revival</h2>The cultural significance of the Indian handloom isn’t just limited to its beauty and extravagance, but it extends to our independence struggle as well. The Swadeshi movement immortalised the charkha and advocated for the use of indigenous goods. Following independence, the Indian government took many measures to revive the handloom industry. In 1953, India’s Parliament approved the Khadi and Other Handloom Industries Development Act. In 1955, the All India Handloom Fabrics Marketing Cooperative Society was formed to promote the sale of fabrics produced by handloom cooperatives across India. The National Handloom Development Programme (NHDP) aimed to provide financial assistance for marketing and production. The Handloom Weavers’ Comprehensive Welfare Scheme offers health and life insurance to weavers, to ensure social security. The organisation commenced a fortnight-long exhibition, “VIRAASAT” dedicated to celebrating the 10th National Handloom Day began at Handloom Haat in Janpath, New Delhi on Saturday, 3rd August 2024, and will conclude on 16th August 2024. The Handloom Mark scheme was introduced to authenticate handloom products, thus enabling weavers to gain better market access and ensuring that consumers get genuine products. Moreover, the India Trade Portal also mentions that the GOI plans to provide financial assistance of Rs. 30 crore to at least 10,000 handlooms. Various state governments also regularly conduct handloom expos and fairs, providing platforms for weavers to showcase and sell their products directly to consumers. <h2>Contemporary Brands and their love for Indian handloom</h2>Modern, popular designers such as <keyword id="8264" type="General" weightage="20" keywordseo="Sabyasachi" source="Orion">Sabyasachi</keyword> and <keyword id="21493890" type="General" weightage="20" keywordseo="ritu-kumar" source="keywords">Ritu Kumar</keyword> are known to work closely with weavers and have been doing their part by bringing worldwide attention to the handloom industries. Recently, <keyword id="1472101" type="General" weightage="20" keywordseo="Ajrakh" source="Orion">Ajrakh</keyword> was brought into the limelight when Alia Bhatt wore a custom Abu Jani Sandeep Khosla Ajrakh saree to Joy Awards in Riyadh. However, it’s not just the fashion moguls who are working towards the revival of this industry. Contemporary indie brands are partnering with local weavers, and creating awareness about their work. The emergence of such indie brands and their association with local artisans is beneficial for both entities. For instance, Joskai Studio derives its name from ‘Joskai’, a woven piece of cloth worn as a part of the traditional costume of the Tiwa community of Assam. They work with artisans in northeast India, specifically from the weaving village of Saualkuchi in Assam. Rouka by Sreejith Jeevan is a Kerala-based brand that works strictly with weavers from Kerala, specifically Chendamangalam and Kuthampally. <h2>Employment and Exports</h2>According to the Indian Trade Portal, the Indian handloom sector is the country’s second-largest employer after agriculture in rural areas. The Handloom Census 2019-20 mentions that the industry employs about 35,22,512 workers across the country, with women forming 77.29% of the workforce. India is the second largest exporter of handloom products in the world, with exports valued at $ 353.9 million in 2017- 18, as per EXIM bank's working papers. The major handloom export centres are Karur, Panipat, Varanasi and Kannur where handloom products like bed linen, table linen, toilet linen, floor coverings, and embroidered textile materials and curtains etc. are produced for export markets. During April 2021-February 2022, India exported handloom products worth 1693 crore, as per Indian Trade Portal. Indian silk scarves also form a sizable chunk of total handloom exports, in addition to home textiles like carpets, rugs and mats, which constitute over 13.6% of India’s total handloom exports. <h2>The Path Forward</h2>The mere existence of organisations and allocation of funds isn’t enough to sustain the legacy of India’s rich handloom industry. Big corporations working with local weavers ensure employment but don't protect them from exploitation and meagre wages, leaving them vulnerable. The people in power ought to come up with strategies that ensure the trickle-down effect of the schemes and funds. The new generation of buyers has a greater purchasing power than the one before them. Marketing focused on bringing Indian handloom practices into the limelight can do wonders in this case.

Fabric of a nation: Sustaining India's handloom legacy in modern times

Ride-hailing platform <keyword id="6354720" type="COMPANY" weightage="20" keywordseo="ola">Ola</keyword> on Thursday said it has appointed Mike <keyword id="6585757" type="COMPANY" weightage="20" keywordseo="rake">Rake</keyword> as non-executive Chairman and <keyword id="11292176" type="PERSON" weightage="20" keywordseo="leon-daniels">Leon Daniels</keyword> as an independent non-executive director to the Ola UK Board. Rake and Daniels will draw on deep experience across the private and public sectors to provide the strongest possible oversight, corporate governance, and strategic counsel to Ola as it continues to grow and scale, Ola said in a statement. They will join Balasubrahmanyam Vijay Juturi, alongside Marc Rozendal (<keyword id="24973" type="COMPANY" weightage="20" keywordseo="managing-director">Managing Director</keyword>, Ola UK) and Karl Lutzow (Operations Director, Ola UK) on the board, it added. "We are delighted to welcome Sir Mike and Leon to the Ola UK Board. As a scaled, global business with a major presence in the UK, the appointment of such high-quality independent board members underlines our commitment to the UK and the scale of our ambition in this dynamic market," Bhavish Aggarwal, Chairman and Group CEO at Ola, said. Ola had launched operations in the UK in 2018. Currently, Ola operates across 27 local authorities, including Birmingham, Liverpool and Bristol. It has also expanded its offering for UK riders, including the launch of <keyword id="3202683" type="COMPANY" weightage="20" keywordseo="Ola-Corporate">Ola Corporate</keyword>. Sir Mike Rake is one of the UK's leading business figures. He joins Ola having previously served in a range of senior boardroom roles, including as Chairman of Worldpay Group plc (2015-2018), BT Group plc (2007-2017), EasyJet plc (2010-2013) and International Chairman of <keyword id="50041" type="COMPANY" weightage="20" keywordseo="KPMG">KPMG</keyword> (2002-2007), along with serving as President of the <keyword id="50463" type="COMPANY" weightage="20" keywordseo="Confederation-of-British-Industry">Confederation of British Industry</keyword> (2013-2015). "The application of technology to mobility holds out an exciting future of cleaner, safer and more efficient transportation for millions of UK passengers, and I look forward to helping Ola continue to do what they do best - innovate for the benefit of society," Rake said. Leon Daniels served as Managing Director, Surface Transport at Transport for London until 2017 and previously held the position of Commercial Director at UK Bus, overseeing new ventures in the UK and international transport. In 2019, he was awarded an OBE for Services to Transport in recognition of his expertise and experience across the UK, Europe, and Asia. SEE ALSO: <a href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrency-crash-brings-down-binance-wazirx-and-other-exchanges-users-fume-as-orders-fail/articleshow/82793305.cms">Cryptocurrency crash brings down Binance, WazirX and other exchanges – users fume as orders fail</a> <a href="https://www.businessinsider.in/retail/news/a-cup-of-regular-tea-has-never-been-this-expensive-in-india-thanks-to-kooky-weather/articleshow/82792489.cms">A cup of regular tea has never been this expensive in India, thanks to kooky weather</a> <a href="https://www.businessinsider.in/science/space/news/the-first-seat-on-jeff-bezos-rocket-to-space-is-selling-for-a-record-high-of-2-8-million/articleshow/82791575.cms">The first seat on Jeff Bezos’ rocket to space is selling for a record high of $2.8 million</a>

Ola appoints Mike Rake as non-executive chairman and Leon Daniels as non-executive director to the UK board

The <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> government is planning to utilise almost 18 lakh acres of land, owned by different public sector undertakings (PSUs), for new manufacturing and infrastructure projects, The Economic Times has reported. 
 
"The idea is that since land acquisition is a very long-drawn process, we can identify the land available and then match it with the requirements of a new project," the newspaper quoted a senior official of the Ministry of Heavy Industries and Public Enterprises as saying. 
 According to the ministry's estimates, out of the 18 lakh acres of land available with <keyword id="44530" type="COMPANY" weightage="20" keywordseo="PSU">PSU</keyword>s, 8-10 lakh acres can be used soon. A senior official working with a PSU said, "We are in the process of compiling the data. Some land is free hold and other has been given by the respective state governments, so it is taking some time." 
 12 sick PSUs, which are not operational but have surplus land, have been identified for this purpose. Some of the companies are: Hooghly Dock &amp; Port Engineers Ltd, <keyword id="1367769" type="UNKNOWN" weightage="20" keywordseo="British-India-Corporation">British India Corporation</keyword>, <keyword id="2660977" type="UNKNOWN" weightage="20" keywordseo="Elgin-Mills-Company">Elgin Mills Company</keyword>, <keyword id="2660978" type="UNKNOWN" weightage="20" keywordseo="Hindustan-Vegetable-Oils-Corporation">Hindustan Vegetable Oils Corporation</keyword> and Birds Jute and Export Ltd. 
 
"We are examining these firms from both financial viability and HR issues. They have some land that can be utilised," the official added.

Modi Govt To Utilise Surplus PSU Land For New Manufacturing And Infra
Projects

<keyword id="6358777" type="General" weightage="50" keywordseo="new-delhi" source="Orion">New Delhi</keyword> [India], February 17 (ANI): The <keyword id="65338" type="General" weightage="50" keywordseo="income-tax-department" source="Orion">Income Tax Department</keyword> gathered several pieces of evidence pertaining to the BBC India's operation which indicated that taxes were not paid on "certain remittances" which have not been disclosed as income in India by the foreign entities of the group, a <keyword id="121964" type="General" weightage="50" keywordseo="central-board-of-direct-taxes" source="Orion">Central Board of Direct Taxes</keyword> (CBDT) spokesperson said in a statement on Friday. After three days, the income tax (I-T) department finished its survey at the offices of the BBC in Delhi and Mumbai on Thursday. "A survey action under section 133A of the Income-Tax Act, 1961 (the Act) was carried out at the business premises of group entities of a prominent international Media Company at Delhi and Mumbai," the spokesperson said. Section 133A of the Act enables an income-tax authority to enter any place of business or profession or charitable activity within its jurisdiction to verify the books of account or other documents. The group, the spokesperson without taking name of the entity said, it is engaged in the business of development of content in English, Hindi and various other Indian languages; advertisement sales and market support services. The statement added the survey revealed that despite substantial consumption of content in various Indian languages (apart from English), the income or profits shown by various group entities is "not commensurate with the scale of operations in India". "The survey operations also revealed that services of seconded employees have been utilised for which reimbursement has been made by the Indian entity to the foreign entity concerned. Such remittance was also liable to be subject to withholding tax which has not been done," it added. Further, the survey, the spokesperson said, has also thrown up several discrepancies and inconsistencies with regard to "Transfer Pricing" documentation. "The survey operation has resulted in unearthing of crucial evidences by way of statement of employees, digital evidences and documents which will be further examined in due course." The officials of the I-T depratment recorded statements of only those employees whose role was crucial including those connected to, primarily, finance, content development and other production-related functions. "Even though the department exercised due care to record statements of only key personnel, it was observed that dilatory tactics were employed including in the context of producing documents/agreements sought. Despite such stance of the group, the survey operation was conducted in a manner so as to facilitate continued regular media/channel activity," the spokesperson said. Earlier, BBC had said it was cooperating with the income tax department, which was conducting a survey at its offices in New Delhi and Mumbai. "The Income Tax Authorities are currently at the BBC offices in New Delhi and Mumbai and we are fully cooperating," the <keyword id="16527651" type="General" weightage="50" keywordseo="bbc-news-press-team" source="Orion">BBC News Press Team</keyword> said in a statement. The Income Tax 'survey' on the British Broadcasting Corporation (BBC) offices located in Delhi and Mumbai concluded nearly after 60 hours on Thursday evening. Issuing a statement the BBC News PR had said, "The Income Tax Authorities have left our offices in Delhi and Mumbai. We will continue to cooperate with the authorities and hope matters are resolved as soon as possible." "We are supporting staff - some of whom have faced lengthy questioning or been required to stay overnight - and their welfare is our priority. Our output is back to normal and we remain committed to serving our audiences in India and beyond," the statement added. (ANI)

BBC India survey indicated tax evasion on remittances, discrepancies in transfer pricing: Govt

<ul><li>The SFIO is reportedly assessing the role of the executives of <keyword id="6367143" type="UNKNOWN" weightage="20" keywordseo="LIC">LIC</keyword> in the <keyword id="6357293" type="UNKNOWN" weightage="20" keywordseo="ILFS">IL&amp;FS</keyword> <keyword id="41673" type="PERSON" weightage="20" keywordseo="crisis">crisis</keyword>. </li><li>Officials of LIC, which has a 25% shareholding in IL&amp;FS, are reportedly being questioned regarding the funding arrangements between two subsidiaries -IL&amp;FS Transportation Networks and IL&amp;FS Financial Services. </li><li>This comes a day after it came to light that four domestic ratings agencies were also being probed by the SFIO for failing to warn investors of the possible default of the infrastructure lender.</li></ul>The investigation into Infrastructure Leasing &amp; Financial Services (IL&amp;FS) deepens. The <keyword id="107956" type="ORGANIZATION" weightage="20" keywordseo="Serious-Fraud-Investigation-Office">Serious Fraud Investigation Office</keyword> (SFIO) is <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/ilfs-default-role-of-lic-officials-under-sfio-lens/articleshow/69260489.cms?from=mdr">reportedly</a> assessing the role of the executives of Life Insurance Corporation of India (LIC) in the IL&amp;FS crisis, two months after a Parliamentary panel called for <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/parliamentary-panel-wants-probe-into-lic-role-in-ilfs-case/articleshow/67981930.cms">a probe</a> into the state-owned insurer - which is IL&amp;FS’s largest shareholder. Officials of India’s main state insurer, LIC, which has a 25% shareholding in IL&amp;FS, are being questioned regarding the funding arrangements between two subsidiaries -IL&amp;FS Transportation Networks and IL&amp;FS Financial Services, a source told <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/ilfs-default-role-of-lic-officials-under-sfio-lens/articleshow/69260489.cms?from=mdr">ET.</a> The latter is said to have extended financing to the former, which could have been a violation of the RBI’s prudential norms relating to exposure to group companies. Furthermore, the loans were reportedly sanctioned without adequate due diligence. This comes a day after it came to light that <a href="https://indianexpress.com/article/business/ilfs-crisis-fraud-office-probes-credit-rating-agencies-sebi-sfio-5718085/">four domestic ratings agencies</a> were also being probed by the SFIO for failing to warn investors of the possible default of the infrastructure lender. Despite their knowledge of IL&amp;FS’s financials, the agencies allegedly decided against downgrading the firm’s debt papers. The SFIO has also questioned officials from the Central Bank of India, which has a 7.8% stake in IL&amp;FS, over the short-term financing to the infrastructure lender. The default of IL&amp;FS, which is referred to as India’s <a href="https://www.businessinsider.in/even-ba-and-philips-lost-money-in-indias-biggest-financial-scandal-of-2018/articleshow/68613199.cms">biggest financial scandal of 2018</a>, became public in August last year. Following a series of downgrades in September, the collapse of the infrastructure lender, which had outstanding debts of around ₹940 billion, precipitated a sector-wide liquidity crunch in the non-banking financial space. LIC was actually called upon to bail out IL&amp;FS in September last year -- which was seen as a risky move for a state insurer. It reportedly invested <a href="https://www.businessinsider.in/after-idbi-bank-lic-now-has-to-bail-a-huge-infrastructure-lender-out/articleshow/65840416.cms">₹40 billion</a> in IL&amp;FS through the purchase of non-convertible debentures as part of the infrastructure lender’s ₹90 billion capital-raising initiative. SEE ALSO: <a href="https://www.businessinsider.in/after-idbi-bank-lic-now-has-to-bail-a-huge-infrastructure-lender-out/articleshow/65840416.cms">After IDBI Bank, LIC now has to bail a huge infrastructure lender out</a> <a href="https://www.businessinsider.in/even-ba-and-philips-lost-money-in-indias-biggest-financial-scandal-of-2018/articleshow/68613199.cms">Even British Airways and Philips stand to lose money in India's biggest financial scandal of 2018</a>

LIC executives are being investigated by India’s corporate fraud agency for their role in the IL&FS crisis

<ul><li>India's market regulator decided to defer the roll out of restrictions on royalty payments</li><li>The new norms have deferred till June 30 from April 1, 2019</li><li>Restrictions on royalty payments were brought in to stop diversion of profits </li></ul> Indian companies that pay a royalty for use of intellectual property, or for the use of a brand, were scheduled to be regulated by a set of norms. Most importantly, they would need the approval of shareholders if the royalty payment were to exceed 2% of sales starting April 1. However, the market regulator, Securities and Exchange Board of India (SEBI), has deferred the rollout of the new regime to June 30, 2019. This will benefit companies like car maker Maruti that pays an annual royalty to its Japanese parent Suzuki, and Hindustan Unilever that pays a similar fee to its British-Dutch parent. "In view of the representations received on the subject and with a view to analysing them, the board decided to defer the implementation of this provision for three months i.e. till June 30, 2019," a SEBI press release on March 27 said. Companies had lobbied hard with the government to stop the new norms, a <a href="https://timesofindia.indiatimes.com/business/india-business/indian-companies-royalty-pay-under-lens/articleshow/66409828.cms" data-type="tilCustomLink" target="_blank">report said last year</a>. The most of royalty paid by Indian companies come from the automobiles, information technology, electronics and consumption sectors. 
 
 
 
 
 
 
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 In February this year, the promoters of Jubilant Foodworks, which holds the licence for Dominos Pizza and Dunkin Donuts, decided to draw more royalty from the company's profits. While the royalty sought by Jubilant promoters was 0.25%-- much below the 2% threshold-- this royalty was meant to be paid for the use of the 'Jubilant' brand, and not Dominos, and the board even approved it. However, after feeling the heat from shareholders, the <a href="https://www.financialexpress.com/industry/day-of-flip-flops-for-jubilant-firms-on-royalty-payment/1478272/" data-type="tilCustomLink" target="_blank">decision was rolled back</a> within a few hours. The restriction on royalty payments were proposed after <a href="https://www.iimb.ac.in/sites/default/files/2018-06/Royalty%20on%20IP%20Analysis%20of%20Principal%20Issues%20-%20Working%20Paper_0.pdf" data-type="tilCustomLink" target="_blank">a study highlighted that </a>"policy regimes on royalty payments need careful treatment in the hands of decision makers. They should not lead to diversion of technology transfer offers from India to other emerging economies that offer more liberal royalty regimes." In other words, the new norms were expected to stop the diversion of profits away from shareholders. Now, once again, the country's market regulator is taking time to analyse its decision to let shareholders to decide the validity of large royalty payments.

India's market regulator is giving royalty restrictions a second thought

Driven primarily by lockdown-induced <keyword id="6358993" type="UNKNOWN" weightage="20" keywordseo="demand">demand</keyword>, shipments of gaming PCs and <keyword id="731335" type="PERSON" weightage="20" keywordseo="Monitors">monitors</keyword> grew 26.8 per cent year-over-year in 2020 to 55 million units, according to a report from industry tracker <keyword id="668267" type="COMPANY" weightage="20" keywordseo="International-Data-Corporation">International Data Corporation</keyword> (IDC). <keyword id="2426328" type="PERSON" weightage="20" keywordseo="gaming-notebooks">Gaming notebooks</keyword> remained the biggest volume driver through a year marked by home restrictions, according to IDC's <keyword id="11042978" type="UNKNOWN" weightage="20" keywordseo="Worldwide-Quarterly-Gaming-Tracker">Worldwide Quarterly Gaming Tracker</keyword>. Despite being affected by display panel shortages through much of the year, gaming notebooks grew a record 26.9 per cent in 2020 as consumers appreciated their versatility for both work and play. In parallel with PCs, gaming monitors also reached new heights in 2020, growing more than 77 per cent compared to 2019 with shipments reaching 14.3 million units. Aside from the sheer volume, 2020 brought other milestones that could alter future trends. North America and Western Europe combined overtook Asia/Pacific (including Japan) as the <keyword id="2085715" type="PERSON" weightage="20" keywordseo="largest-market">largest market</keyword> for the first time, largely due to lockdown-induced demand. "Unfortunately, the supply of gaming PCs has tumbled recently and while crypto-mining may be partially to blame, the sheer demand for these products and growth in the player base is more likely the root cause of the shortages," said Jitesh Ubrani, Research Manager for IDC's Worldwide Mobile and Consumer Device Trackers. "New GPUs, new games, added support for ray-tracing, and the growth in demand have also led to an increase in average selling prices during 2020 and will likely remain at these elevated levels in 2021." Looking ahead, IDC expects the gaming market to remain a bright spot after the overall PC market returns to more normal replacement cycles after the pandemic. While gaming desktops will continue to fade in favour of notebooks, their demise will be more than made up for by notebooks and monitors, IDC said. For example, IDC expects gaming monitor volume will exceed that of gaming desktops for the first time in 2021. The gaming monitor market is expected to see a five-year compound annual growth rate (CAGR) of over 10 per cent, said IDC. Adding that it expects this momentum to carry forward as global volumes reach 72.9 million in 2025 with a CAGR of 5.8 per cent. "Much like the notebook market, monitors also faced panel component shortages and surging demand," said Jay Chou, Research Manager for IDC's Worldwide PC Monitor Tracker. "OEMs (Original equipment manufacturers) have to be wise about where to allocate scarce resources and it makes sense to meet gaming display demand as commercial buying and office occupancy in many markets remains weak. IDC expects gaming monitors to capture an increasingly larger share of the total monitor market in the years ahead." SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/nasa-estimates-pandemic-could-cost-it-around-3-billion-quick-look-at-projects-to-take-the-biggest-hit/slidelist/81869940.cms">NASA estimates the pandemic ballooned costs by $3 billion — here are the projects to take the biggest hit</a> <a href="https://www.businessinsider.in/business/startups/news/a-5-5-billion-british-fintech-start-up-may-have-200-jobs-to-offer-in-india/articleshow/81867620.cms">A $5.5 billion British fintech start up may have 200 jobs to offer in India</a> <a href="https://www.businessinsider.in/business/startups/news/for-revolut-india-is-just-the-first-in-a-series-of-countries-it-plans-to-enter-in-the-next-18-months/articleshow/81883114.cms">For Revolut, India is just the first in a series of countries it plans to enter in the next 18 months</a>

Gaming PCs and monitor shipments worldwide grew 26.8% in 2020

More and more Indians now prefer travelling business class while going abroad and the international <keyword id="44023" type="ORGANIZATION" weightage="20" keywordseo="airlines">airlines</keyword> have decided to bank on this trend. 
 International airlines such <keyword id="6368386" type="COMPANY" weightage="20" keywordseo="Singapore-Airlines">Singapore Airlines</keyword>, <keyword id="52088" type="COMPANY" weightage="20" keywordseo="British-Airways">British Airways</keyword>, Jet Airways, etc are increasing more seats in the business class on their India flights. 
 
The business class bookings increased 75% and are proving to be one of the growth drivers in the aviation industry. 
 Singapore Airlines’ new Airbus A350 aircraft, which will added to Mumbai next year, will have 66 business and premium economy seats compared with 38 business class seats in the current <keyword id="6357957" type="CITY" weightage="20" keywordseo="Boeing">Boeing</keyword> 777 aircraft. 
 
Meanwhile, British Airways is also planning to introduce first class seats on both its flights from London to Mumbai, whereas, Jet Airways introduced first class and business class on short-haul international routes, which were earlier all-economy flights. 
 
As per a report by MakeMyTrip, business class bookings on foreign carriers increased by 37% to 88% year-on-year every month from January to August. Bookings in August grew by 88% over a year earlier. The portal compiled data on the basis of an average of spot and prior bookings. 
 
"It is the corporate travellers who are driving this demand for more premium seats as there is a renewed confidence in the state of our economy. Airlines have sensed there is an opportunity and have deployed larger aircraft that has more business class and first class seats," John Nair, head of business travel at Cox &amp; Kings, told ET. 
 Sharat Dhall, president of travel portal Yatra.com, told ET that with a rapidly emerging market for premium business and leisure travel, the competition will shift to the front end of the aircraft, especially for international flights. India's annual international air passenger traffic is about 55 million. About 60 domestic and foreign airlines ferry flyers in and out of the country. Of India's seven major local carriers, four fly international and only two - Jet Airways and <keyword id="2573" type="CITY" weightage="20" keywordseo="Air-India">Air India</keyword> - sell business and first-class seats.

International airlines know how you travel; they have increased business class seats on India flights

Stressing that it is the job of the historian to take note of new research, historian and author <keyword id="5487" type="General" weightage="100" keywordseo="william-dalrymple" source="Orion">William Dalrymple</keyword> says there is nothing wrong with re-examining history in light of new evidence. "It is a good thing that history must be reexamined by every successive generation: relooked at and rethought and discussed over again. I personally believe that it is not at all a bad thing for history to be looked at from the ever-changing perspectives of the present. Such discussion and debate is entirely legitimate, but it has to be firmly anchored in the facts found in the primary sources and not just be an expression of political opinion, nationalistic muscle-flexing, or religious orthodoxy. "Sadly, there is often a tendency in this country to reduce history to binaries: a world full of great heroes and great villains. In reality, human beings are rarely black or white: we are all different shades of gray," he tells IANS at the 6th Kerala Literature Festival organised by the DC Kizhakemuri Foundation. "It's the historian's job to research and express those subtle nuances. In history, nuance is everything." Currently working on his next book 'The Golden Road', the story of <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>n influence spreading out over Asia - Buddhism going up to China and Hinduism and Sanskrit going down to South East Asia, and India numbers and mathematics going West, Dalrymple, born in Scotland wrote his first book 'In Xanadu: A Quest' at the age of 22 and moved to Delhi in 1989. Spending five years researching his best-known 'The City of Djinns: A Year in Delhi', his other bestselling works include 'From the Holy Mountain: A Journey in the Shadow of Byzantium', 'The Age of <keyword id="84966" type="General" weightage="80" keywordseo="kali" source="Orion">Kali</keyword>', 'White Mughals', 'The Last Mughal: The Fall of a Dynasty, Delhi 1857', 'Nine Lives: In Search of the Sacred in Modern India', 'The Return of a King: The Battle for Afghanistan' and 'The Anarchy: The East India Company, Corporate Violence, and the Pillage of an Empire.' Stressing he chooses to write history at this moment, though he loved writing travelogues in his twenties and could go back to them one day, the author says he has often considered writing a sequel to his 2010 bestseller, 'Nine Lives: In Search of the Sacred in Modern India'. Also a photographer, Dalrymple says that writing and photography use different parts of the brain: Photography is immediate and about the instant moment, while writing is slow, and considered and involves much editing, rewriting, and rethinking. "They both give me different pleasures. I am also doing a podcast titled 'Empire' with Anita Anand. It's been a surprising hit since it started in August and there are now a million downloads a month. Earlier, it was just British, US, and Australian audiences, but now it is doing really well in India too." The author, who has also collaborated with singer-composer <keyword id="774239" type="General" weightage="80" keywordseo="vidya-shah" source="Orion">Vidya Shah</keyword> for literary-musical acts ('The Last Mughal' and the White Mughals') feels it is interesting to divide his time between different forms of creativity and believes the variety keeps him fresh and engaged, always wrestling with new challenges: "While my main calling is history, I am also a photographer and have been a travel writer, a foreign correspondent, a festival organiser, and a podcaster. Next year, I am taking up a visiting fellowship at Al Souls College, <keyword id="46985" type="General" weightage="50" keywordseo="oxford" source="Orion">Oxford</keyword>. If you keep yourself fresh and interested you're more likely to keep your audience engaged." In his research process, the best part is visiting the places where the events he will write about took place. "It is more like a holiday -- going to the ruins and the temples and the battlefields. Yes, the archives are a slog. But the hardest bit is writing... putting pen to paper. The first two-three months are especially tough but then you see the pile of paper building, and the writing improving through successive drafts and that feels very satisfying. It is exactly because of that difficulty that finishing a book is such a uniquely satisfying moment," he concludes. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sports/news/india-creates-world-record-for-highest-margin-win-in-odi-cricket/slidelist/97021299.cms">India creates world record for highest margin win in ODI – here are India’s biggest wins</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/news/ss-rajamoulis-rrr-bags-2-trophies-at-critics-choice-awards/articleshow/97019707.cms">RRR bags 2 trophies at Critics’ Choice Awards: Best Foreign Language Film &amp; Best Original Song</a>

Nothing wrong with re-examining history in light of new evidence: William Dalrymple

Mumbai, Dec 17 () Hinduja Group co-chairman Gopichand Hinduja on Tuesday said that while the USD 5 trillion target of 2024 is achievable, Prime Minister Narendra Modi-led government needs to shed the British style of bureaucracy to move faster.
 The industry veteran also said that the company has been willing to invest more than USD 20 billion in India, but it wants the obstacles to be removed and provide ease of doing business.
 "USD 5 trillion economy is an achievable target. The initiatives taken by Modi are great and his vision is excellent but his team has to be fast," Hinduja said at the India economic conclave 2019.
 He noted that the British style of bureaucracy still exists in India, while Britain has already modified their bureaucracy.
 "The first step we have to see is how our bureaucracy will be modified. Some 6-7 years back, we wanted to invest USD 20 billion more in India. When we started getting in, we could see so many obstacles and was not easy to do business. But when Modi announced the initiative of ease of doing business, we thought things will change. But the speed of change should be faster," he said.
 Hinduja further said his company would love to invest more and more in the country because India has the maximum opportunities to invest from all over the world.
 "Our only expectation is that the government should honour what it has committed," he added.
 Speaking at the event, Hinduja Group of Companies chairman Ashok Hinduja noted that system processes need to change.
 "There is a lot of criticism from SME and corporate sector about the fear and psyche, but I think this has to be there. We have to change the seven decade-old system processes and there has to be a stick approach and we need more transparency. But at the same time, there should be a limit to it and everything cannot be criminalised," he added. PSK MR
MR

Modi govt needs to shed British-style bureaucracy, move faster: Hinduja

<ul><li><keyword id="267073" type="General" weightage="20" keywordseo="EY" source="Orion">EY</keyword>, a multinational professional services advisory firm has said it will hire 25,000 tax professionals globally.</li><li>It will also be recruiting 6,000 people for its <keyword id="13892530" type="General" weightage="80" keywordseo="global-delivery-services" source="Orion">Global Delivery Services</keyword> (GDS) tax team.</li><li>Around 80% of the GDS tax team hiring will be done in India and the rest 20% will be done across the world.</li></ul>EY, a London-based multinational professional services company, is looking to hire 25,000 tax professionals globally. In an interview with Business Insider, EY said it will also recruit 6,000 employees for its Global Delivery Services (GDS) tax team across various countries including India. GDS is a global delivery network which is a part of EY. It collaborates with the company’s team for various projects across countries like Argentina, China, India, the Philippines, the UK, Poland, Hungary and the United States — with teams from all EY service lines. “I think globally, the tax department will be recruiting 25,000 professionals and GDS will have 6000 tax recruitments across multiple countries and that too in different areas,” <keyword id="13892533" type="General" weightage="20" keywordseo="Ashutosh-Rathor" source="Orion">Ashutosh Rathor</keyword>, global tax GDS leader and global tax industry leader told Business Insider India in an exclusive interview. Around 80% of the GDS tax team hiring will be done in India and the remaining 20% will be done in other locations around the world, said Rathor. EY has offices in these cities in India — Bengaluru, Chennai, Gurugram, Kochi, Kolkata, Mumbai, Noida, Trivandrum and Hyderabad. EY currently has around 65,000 professionals in the tax team and 14,000 in the GDS tax team. <cmsannotation type="cmsannotation" annotationid="EY hiring – here’s everything that aspirants should know" comment="subhead" text="EY hiring – here’s everything that aspirants should know">EY hiring – here’s everything that aspirants should know</cmsannotation> Professionals who know at least one foreign language will be given preference while being hired in the tax department. “We are tapping into some of the best talent and beyond campus experienced tax professionals especially with foreign language skills. To work with global teams, we would need experts with French, German, and Italian languages and obviously tax technical areas where we have folks with experience,” Rathor said. When we asked about particular skill sets the company is looking for in a candidate, Rathor said, “We are looking for skill sets ranging from income tax, corporate tax, indirect tax, individual tax, structuring and planning to legal managed services.” The opportunity is not only limited for professionals who have been working in this field but also for freshers. The company has rolled out a global competition for freshers named as ‘EY <keyword id="13892531" type="General" weightage="50" keywordseo="young-tax-professional-of-the-year" source="Orion">Young Tax Professional of the Year</keyword>’ who wish to start their careers in the tax profession. <cmsannotation type="cmsannotation" annotationid="EY also has internships on offer" comment="subhead" text="EY also has internships on offer">EY also has internships on offer</cmsannotation> Apart from hiring full-time professionals, EY also offers <a href="https://eyglobal.yello.co/job_boards/c1riT--B2O-KySgYWsZO1Q?locale=en">several internships for college students</a> as part of the company’s campus recruitment drive in various departments like corporate tax, transfer pricing, indirect tax and tax technology. The company claims that they ultimately hire their interns as full-time employees. “We have summer, spring and winter internships when students can join and learn and get hired for a full time career. Another program – Young Tax Professional of the year is a global program that EY runs globally.,” Rathor said. Rathor added that the attrition rate in the last financial year stood at 14%, claiming that it is the lowest among its peers. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/delhivery-delivers-parcels-to-over-90-of-india-but-will-its-ipo-deliver-profits-to-its-investors-heres-what-analysts-are-saying/articleshow/91470992.cms">Delhivery delivers parcels to over 90% of India, but will its IPO deliver profits to its investors? Here’s what analysts are saying</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/article/british-companies-are-choosing-profits-over-sustainability-contrary-to-public-expectations-study/articleshow/91466749.cms">British companies are choosing profits over sustainability, contrary to public expectations: Study</a>

You Searched For "British India Corporation" and got 11 results

Fabric of a nation: Sustaining India's handloom legacy in modern times

Prerna Tyagi

Ola appoints Mike Rake as non-executive chairman and Leon Daniels as non-executive director to the UK board

PTI

Modi Govt To Utilise Surplus PSU Land For New Manufacturing And Infra Projects

BI India Bureau

BBC India survey indicated tax evasion on remittances, discrepancies in transfer pricing: Govt

ANI

LIC executives are being investigated by India’s corporate fraud agency for their role in the IL&FS crisis

Dilsher Dhillon

India's market regulator is giving royalty restrictions a second thought

Sriram Iyer

Gaming PCs and monitor shipments worldwide grew 26.8% in 2020

IANS

International airlines know how you travel; they have increased business class seats on India flights

BI India Bureau

Nothing wrong with re-examining history in light of new evidence: William Dalrymple

Modi govt needs to shed British-style bureaucracy, move faster: Hinduja

PTI

INTERVIEW: EY to hire 25,000 professionals in the tax department

Vaamanaa Sethi

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