eznews.in
The Indian public relations industry is projected to experience significant growth, with a headcount increase at a compound annual growth rate (CAGR) of 8% by FY 2030, potentially employing 22,700 professionals, according to a PRCAI-Ipsos survey. The industry reached ₹2,500 crore in FY 2023, marking a 19% year-on-year increase, and is expected to grow to ₹4,570 crore by FY 2030, driven by adaptability to AI tools and expanded service offerings. Despite this optimistic outlook, challenges remain, including rising costs and stagnant client budgets, which may temper growth. The report highlights the industry's need to navigate AI-generated misinformation while fostering creativity and building trust. Atul Sharma, President of PRCAI, noted that while growth was robust post-COVID-19, the industry anticipates an 11% growth for FY 2024, reflecting a larger market base. 
Published: Jan 24 2025, 8 ameznews.inSalam Kisan (PRYM Solutions) has announced a significant investment of ₹300 crore over the next seven years to enhance agricultural practices in India through drone technology. This initiative, formalized in a memorandum of understanding with the Maharashtra government and Microsoft at the World Economic Forum 2025, aims to democratize access to drones for smallholder farmers. The plan includes manufacturing drones, establishing training centres, and creating a network of 200,000 trained drone service providers (DSPs), potentially generating ₹5 lakh annually for each entrepreneur. The Maharashtra government will match this investment to support infrastructure and training in Marathwada, targeting 5 million acres of farmland by 2030. Leveraging AI and cloud computing, Microsoft will provide data-driven insights to improve crop productivity. The initiative is expected to save 238 billion litres of water and reduce farming costs by 30%, while creating 200,000 rural jobs and promoting sustainable agricultural practices.
Published: Jan 24 2025, 12 pmeznews.inThe Supreme Court of India has dismissed a Public Interest Litigation (PIL) challenging the Tax Deducted at Source (TDS) system, which the petitioner argued imposes disproportionate administrative burdens on taxpayers. Advocate Ashwini Upadhyay contended that the TDS framework is "manifestly arbitrary" and violates fundamental rights, including the right to equality and the right to life. The court, led by Chief Justice Sanjiv Khanna, advised Upadhyay to approach the High Court instead, citing the poorly drafted nature of the petition. The plea called for a review of the TDS system by the Law Commission and urged NITI Aayog to consider necessary reforms. It highlighted that the TDS system, while ensuring government revenue, places significant compliance demands on individuals, particularly affecting economically weaker sections who may lack the expertise to navigate its complexities. The TDS framework requires tax deductions at the point of payment across various income types, with strict compliance obligations for taxpayers.
Published: Jan 24 2025, 12 pmeznews.inIndia's economic growth showed signs of slowing in January 2025, with the HSBC flash India Composite Purchasing Managers' Index dropping to 57.9, the lowest since November 2023, from December's 59.2. While the manufacturing sector thrived, reaching a six-month high of 58.0, the services sector experienced a significant decline, with its index falling to 56.8, the weakest in 26 months. This divergence raises concerns about the sustainability of India's robust economic performance, particularly as government forecasts predict a slowdown to 6.4% growth for the fiscal year. Despite record job creation and improved international demand, inflationary pressures intensified, particularly in services, complicating the outlook for monetary policy. The Reserve Bank of India's upcoming meeting may be influenced by these inflationary risks, as the business sentiment remains mixed, with manufacturing optimism contrasting with a decline in services confidence.
Published: Jan 24 2025, 11 ameznews.inIn the latest Kochi tea auctions, CTC dust prices saw a ₹2 increase in average price realization, driven by strong demand from blenders, who absorbed 59% of the 652,759 kg offered. Auctioneers Forbes, Ewart & Figgis reported a steady to firm market, particularly for popular Kerala marks, although some export inquiries were noted at the lower end. Conversely, the orthodox dust market faced a decline, with only 9,000 kg offered and a sales percentage of 78, as exporters and upcountry buyers showed limited interest. The leaf market struggled due to low-quality teas, resulting in a ₹9 drop in average price realization to ₹186 per kg. Despite these challenges, traders remain optimistic about potential increases in prices in future auctions, citing a lower quantity of upcoming offerings and improved geopolitical conditions that may boost overseas demand for tea.
Published: Jan 24 2025, 11 ameznews.inThe Central Board of Indirect Taxes and Customs (CBIC) has introduced a temporary identification number mechanism under the Goods and Services Tax (GST) for businesses not required to register, following recommendations from the GST Council. This allows entities to obtain a temporary ID for making payments under the GST Act. Additionally, the CBIC has waived late fees for the delayed filing of annual returns (Form GSTR-9) and reconciliation statements (Form GSTR-9C) for the financial years 2017-18 to 2022-23, provided GSTR-9C is submitted by March 31, 2025. Currently, there are 1.49 crore registered taxpayers under GST, with mandatory registration thresholds set at ₹40 lakh for manufacturing and ₹20 lakh for services. The waiver applies only to late fees exceeding the standard payable amount, and no refunds will be issued for fees already paid.
Published: Jan 24 2025, 11 ameznews.inSuhana Masala has partnered with the Ecofactory Foundation to establish a Centre of Excellence (CoE) for spice production in Sangareddy, Telangana, aimed at enhancing the skills and resources of local farmers. The initiative, announced following a meeting between Suhana Director Anand Chordia and Telangana IT and Industries Minister D Sridhar Babu at the World Economic Forum in Davos, will train 25,000 to 30,000 farmers over the next two to three years. The CoE will focus on modern farming techniques to ensure that spice production meets global standards, thereby improving market access and income for farmers. Additionally, the initiative will promote eco-friendly farming practices, contributing to the preservation of natural resources in the region. The project underscores a commitment to elevating the quality of agricultural produce while fostering sustainable practices in Telangana's farming community.
Published: Jan 24 2025, 8 ameznews.inIn a remote address to the World Economic Forum in Davos on January 23, 2025, U.S. President Donald Trump declared the onset of a "golden age" for America, promising to strengthen the economy through significant tax cuts and reduced regulations. He urged businesses to manufacture in the U.S. to avoid tariffs and announced plans to pressure Saudi Arabia and OPEC to lower oil prices, claiming this could help end the Russia-Ukraine conflict. Trump emphasized his administration's swift actions to combat inflation and restore American manufacturing dominance, while also addressing U.S.-China relations, expressing optimism for improved ties with President Xi Jinping. He reiterated his commitment to traditional gender definitions, stating that only two genders would be recognized in U.S. policy. Trump's remarks came just days after his inauguration for a second term, during which he criticized the previous administration's economic management.
Published: Jan 24 2025, 12 ameznews.inIn a significant policy shift, U.S. President Donald Trump declared at the World Economic Forum in Davos that the United States will officially recognize only two genders, male and female, and prohibit men from participating in women's sports. Speaking via video link shortly after beginning his second term, Trump emphasized that transgender surgeries would become increasingly rare. He recently signed executive orders that roll back protections for transgender individuals and dismantle diversity and inclusion programs within the federal government. These orders stipulate that the federal government will define sex based on biological characteristics, such as the presence of eggs or sperm, rather than chromosomes. Additionally, they mandate the segregation of prisons and shelters by this definition of sex and restrict federal funding for transition services, while also blocking the use of preferred pronouns for transgender individuals in government and workplace settings.
Published: Jan 24 2025, 12 ameznews.inThe Competition Commission of India (CCI) is advocating for an ex-ante regulatory framework to oversee the rapidly evolving digital markets, according to Chairperson Ravneet Kaur. This proactive approach aims to complement the existing ex-post enforcement mechanism, addressing the unique challenges posed by digital platforms, often referred to as Gatekeepers, which can quickly dominate markets. Kaur recently presented the status of the proposed Digital Competition Bill to the Standing Committee on Finance, emphasizing the need for preventive measures against anti-competitive practices. She also indicated plans to enhance the CCI's Dedicated Digital Markets Division, pending the Bill's enactment, by recruiting data analysts and scientists. Regarding the NCLAT's recent stay on a CCI order concerning WhatsApp's privacy policy, Kaur stated that the commission will review the order before deciding on an appeal. Additionally, she noted that no formal complaints regarding quick commerce have been received yet, although the CCI is examining related industry concerns.
Published: Jan 23 2025, 10 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact