Friday, September 11
Larsen & Toubro is undergoing a bold transformation—exiting legacy businesses, entering new ones, and betting on sectors like semiconductors, green hydrogen, and data centres—even as its core EPC business continues to drive megaprojects at home and overseas. In a candid conversation with ET, SN Subrahmanyan, chairman & MD, outlines the group’s “grow to sell, sell to grow” playbook, sharper capital allocation, technology-driven pivot, and a focus on building a younger, agile leadership. From real estate and defence to AI and chip design, Subrahmanyan maps out L&T's next decade. Edited excerpts:How does L&T approach the challenge of sustaining long-term organisational relevance?L&T operates across three segments —EPC projects, manufacturing, and IT/technology
India’s plan to overhaul its goods and services tax (GST) regime is being billed as the most sweeping reform since the levy was introduced in 2017. And for RC Bhargava, chairman of the country’s largest carmaker Maruti Suzuki, the proposed changes could be transformative.Speaking to Reuters on Monday, Bhargava called the move a “huge reform” and said it would sharpen the competitiveness of Indian products. “The restructuring will increase competitiveness of Indian products and the opening of trade borders will bring in the necessary competition, which will help expand the market and benefit customers,” he said.At the heart of the government’s plan is a sharp reduction in GST rates on small cars and insurance premiums. According to a people in the know, the tax on small petrol
Over the last eight years since the introduction of GST, the focus has been on compliance and expanding the tax base. With average monthly GST collections of over ₹1.8 lakh crore in FY25 and a tax base exceeding 1.5 crore, the time has come for 'next generation GST reforms', as announced by the prime minister on Independence Day.We are now set for GST rate rationalisation, with four main rate slabs of 5, 12, 18 and 28% likely to give way to two slabs of 5 and 18% (with a few 'sin' products subject to 40%). This means that most items currently under the 12% slab could attract a lower rate of 5% (including many food and household products) and those under 28% might be reduced to 18% (including cement and cars). This will significantly boost consumption and spur economic activity, without i
