Thursday, September 17
Scotch and British gin producers may have secured lower import duties in India, but Indian alcoholic beverage makers allege an uneven playing field when exporting to the UK, The Times of India has reported. Domestic liquor firms claim that non-tariff barriers in the UK and EU restrict access for Indian-Made Foreign Liquor (IMFL) products. These barriers, they say, revolve around technical norms like maturation period and ingredients, which are not aligned with Indian production conditions. “The UK and even the European Union do not allow fair imports of most Indian-Made Foreign Liquor (IMFL) products due to non-tariff barriers related to maturation and ingredients. We only wish that the Indian govt had stood firm on the issue of non-tariff barriers,” said Anant S Iyer, director general
The M Chinnaswamy Stadium in Bengaluru has been declared "unsuitable and unsafe" for large-scale events by the Justice John Michael Cunha Commission, which was appointed by the Karnataka government to investigate the stampede that took place on 4 July.The stampede happened during the victory celebrations of Royal Challengers Bengaluru (RCB) after the team won their first-ever IPL title, ending an 18-year wait. The incident left 11 people dead and over 50 injured.According to ESPNCricinfo, the commission’s report says the stadium’s design and structure are not suitable for hosting large gatherings. The panel warned that holding such events there could cause serious risks to public safety, traffic, and emergency response.The report blamed RCB, its event partners DNA Entertainment, and th
The National Securities Depository Limited's (NSDL) upcoming Rs 4,000 crore IPO has transformed into a staggering wealth creation machine for its institutional shareholders, with the State Bank of India (SBI), IDBI Bank, National Stock Exchange (NSE), HDFC Bank and others set to pocket mind-boggling returns of up to 39,900% return on their original investment.In the IPO, SBI is offloading 40 lakh shares of NSDL acquired at a mere Rs 2 per share. At the upper price band of Rs 800, SBI stands to generate Rs 320 crore in proceeds against an original investment of just Rs 80 lakh, delivering an eye-watering return of 39,900%.IDBI Bank, selling 2.22 crore shares also bought at Rs 2, is set to realize Rs 1,776 crore against an initial outlay of Rs 4.44 crore, translating to 39,900% return.Even U
