Swedish home furnishings major Ikea on Monday said it has launched its online store in the city offering more than 7,500 products. Mumbai will see a multi-channel offer including smaller format stores, and a big format store in Navi Mumbai, it said in a statement. “India’s retail landscape is changing at a scale and pace not seen before driven by increasing urbanisation and changing customer behaviours. To be a key partner to the many of India in this journey, Ikea is also transforming.”

Publication: News18

Date: August 20, 2019

If you want to apply for an initial public offer (IPOs) through an intermediary such as stockbrokers, depository participants, and registrar and transfer agents, you will now need a Unified Payment Interface (UPI) ID to do so. UPI facilitates instant money transfer between any two entities’ bank accounts and is expected to bring greater digitization to the IPO process. The Securities and Exchange Board of India’s (Sebi) rule for retail investors came into effect on 1 July 2019, and the earliest IPO to test this rule opened on 29 July—Affle India Ltd’s IPO was open till 31 July.

Publication: Livemint

Date: August 20, 2019

Much of the debate in recent months has been focused on the sharp loss of economic momentum in India. The big question is whether the ongoing slowdown is structural or cyclical. The usual thumb rule is that the policy response to a structural slowdown is through economic reforms that ease supply constraints. And a cyclical slowdown has to be tackled with measures to stimulate demand. Rathin Roy of the National Institute of Public Finance and Policy argues that India is currently facing a structural demand problem, which further complicates policy choices.

Publication: Livemint

Date: August 20, 2019

The long-awaited changes in India’s over half-a-century-old income tax rules may finally be upon us—perhaps by the next fiscal year. A panel set up by the government to review the direct tax code (DTC) has submitted its report. If implemented, its recommendations would supplant the existing Income Tax Act of 1961. None of them has officially been made public yet, but media reports point to a relief in tax rates for individual taxpayers, simpler assessment procedures and a lower corporate tax rate even for large companies, among other changes, such as fewer exemptions and the use of Artificial Intelligence to curb tax evasion.

Publication: Livemint

Date: August 20, 2019

Indian startups continue to see strong capital inflows despite macroeconomic headwinds, including a slump in consumer demand. Startup funding so far this year has risen to a record level, surpassing last year’s peak, as these young companies grow faster than ever before. As a result, investors with large pools of capital are chasing Indian startups. In the first seven months, $4.7 billion has been invested in Indian startups across 346 deals, compared to the $4.3 billion across 338 deals during the corresponding period last year, according to data from Venture Intelligence, a startup data tracker.

Publication: Livemint

Date: August 21, 2019

Jim Stengel, a marketing expert and author describes an approach to innovation that many large corporations are embracing.  Start-ups can teach older companies how to move faster, take more risks and learn from failure. On the flipside, established companies can teach start-ups how to build a brand that fosters a lasting emotional bond and how to set up an organization to support global expansion. Bridging the different worlds and experiences of young and old companies might actually turn out to be one of the keys to surviving in an increasingly complex world.

Publication: Forbes India

Date: August 19, 2019

The Income Tax department should leverage technology for certainty and efficiency in the issuance of withholding tax certificates. The government has introduced several measures to improve its tax delivery system and make it more business-friendly. Regular reviews of the delivery system and improvements to processes to reduce turnaround time demonstrate its commitment. One aspect of the journey towards ‘Tax 2.0’, however, that requires immediate attention is the process of granting lower withholding tax certificates. Businesses depend upon the Income Tax department to obtain a withholding tax certificate before making or receiving a payment.

Publication: The Hindu Business Line

Date: August 21, 2019

Research shows that while mobile phone penetration has grown significantly in India, there remain sharp disparities in how the phones are used. Singh and Kumar categorize Indian mobile phone users into four groups by “feature use”. Group 1 mobile phone features rank low in complexity and do not require internet access (such as making or receiving calls). Group 2 features are high in complexity but do not require internet access; while group 3 features are comparatively low in complexity, but need internet access. Finally, group 4 features are both complex and need internet access (e.g. e-commerce and mobile banking applications).

Publication: Livemint 

Date: August 20, 2019