PM Modi Backs India-Cyprus Ties, Eyes FTA With EU, Greece, UK in CEO Forum Address
/ Jun 16, 2025, 11:23AM IST
Prime Minister Narendra Modi addressed the India-Cyprus CEO Forum in Limassol, spotlighting India's rapid economic growth and strong global trade ambitions. He highlighted India's ongoing digital and manufacturing revolution and reiterated commitment to finalize a Free Trade Agreement (FTA) with the European Union by year-end. PM Modi also noted the recent UK-India FTA progress and plans to conclude an FTA with Greece soon. He welcomed the strategic cooperation between Cyprus Stock Exchange and NSE in GIFT City, Gujarat. Modi called Cyprus a trusted long-term partner and praised the mutual investments and business links, calling Cyprus a 'gateway to Europe' for Indian companies. He announced the establishment of the India-Cyprus-Greece Business and Investment Council and reaffirmed India's position as one of the world's fastest-growing economies under a historic third consecutive term in office.#PMModi #ModiInCyprus #IndiaCyprusTies #GlobalFTA #IndiaEUFTA #GiftCity #ModiSpeech #IndianEconomy #TradeWithEurope #CyprusGateway #GreeceIndiaFTA #toi #toibharat #bharat #breakingnews #indianews
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Economic Times
16 minutes ago
- Economic Times
Dalai Lama succession: Govt says it doesn't take position on issues related to practices of faith
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Indian Express
17 minutes ago
- Indian Express
States raise revenue loss concerns: GoM backs Centre's plan for GST rate rationalisation
The Group of Ministers on Rate Rationalisation gave its in-principle support Thursday to the Centre's proposal to overhaul the Goods and Services Tax (GST) design, even as member states raised concerns about potential revenue loss on account of the rate rationalisation. Six days ago, Prime Minister Narendra Modi, in his Independence Day address, announced the next big phase of reforms under the GST regime by Diwali, a gift for the common man, small entrepreneurs and MSMEs, in terms of reduced tax burden. The Centre has suggested replacing multiple slabs – 5 per cent, 12 per cent, 18 per cent and 28 per cent – with a broad two-slab structure – 5 per cent and 18 per cent – in addition to a 40 per cent special rate for sin and demerit goods. States said they do not oppose the 'pro-people' proposal, but it may result in revenue losses that will ultimately leave them with less resources to spend on common people in their regions. While Bihar's Deputy Chief Minister and GoM convenor Samrat Choudhary spelt out the panel's support for the GST overhaul proposal, he said observations made by states will be referred to the GST Council. Detailed discussions on items will be taken up in the Council, he said. 'We have deliberated upon the Centre's proposal to remove the two GST slabs, we have given our support and recommendations. Now, the GST Council will decide. All states gave their views, there were some observations by some states. Those will be referred to the GST Council,' Choudhary said. The differing views and observations of states on revenue loss and concerns over profiteering by manufacturers and companies will be part of the note that the GoM will send to the Council along with the Centre's proposal. Some states were also of the view that the work done by the GoM over the last few years will now essentially be wasted as they would be simply handing over the Centre's proposal to the GST Council. 'We have neither approved nor rejected it. Centre cannot give its proposal directly to the Council, so we will be just handing over the Centre's proposal to the Council,' a top state government official told The Indian Express. States are learnt to have sent their suggestions for the GoM's note on a mechanism to compensate states that will address their revenue loss concerns. States are anticipating annual revenue loss of Rs 6,000-10,000 crore, the official said. West Bengal's Finance Minister Chandrima Bhattacharya echoed a similar view and said they are 'okay with the pro-people proposal' but it is not an agreement. The Centre's proposal has not outlined the figure for revenue loss on account of the GST rate rationalisation and the proposal should not move ahead without detailing a mechanism for compensating states for revenue loss. 'It's not an agreement in that way. If it's there, it is okay. If it is pro-people, then it's okay. 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Mint
17 minutes ago
- Mint
HUL names Niranjan Gupta CFO as Ritesh Tiwari moves to global role at Unilever
Mumbai: Consumer goods major Hindustan Unilever Ltd (HUL) on Thursday announced the appointment of Niranjan Gupta as chief financial officer-designate and member of the HUL Management Committee, effective 1 September. Gupta will succeed Ritesh Tiwari, currently executive director, finance, and chief financial officer (CFO), who has been appointed global head of M&A and Treasury at Unilever Plc, effective 1 November. Tiwari will be based in London. Gupta will join the HUL Board on 1 November and report to Priya Nair, chief executive officer (CEO) and managing director (MD) of HUL. The appointment comes amid a series of senior management changes at the maker of Dove soaps and Vim bars. Last month, the company named Priya Nair as CEO and MD, effective 1 August, following Rohit Jawa's exit after a little over two years in the role. According to the company, Gupta began his career with HUL and spent two decades in leadership roles before moving to Vedanta Ltd, and later Hero MotoCorp, where he was elevated as CEO in 2023. 'Niranjan played a pivotal role in strengthening financial health, driving long-term strategy and forging partnerships, including a collaboration with Harley Davidson,' HUL said. Tiwari, who took charge as HUL CFO in 2021, led portfolio transformation initiatives, oversaw key acquisitions and disposals, and steered the demerger of the ice cream business into Kwality Walls (India) Ltd, paving the way for its independent listing. Over the years, several Indian executives from HUL have taken on prominent roles within Unilever Plc. Nitin Paranjpe, for instance, has held multiple leadership positions on t he Unilever Leadership Executive (ULE), including chief transformation officer and chief operating officer, and now serves as non-executive chairman of HUL. Leena Nair, another HUL veteran, was Unilever's chief human resources officer and a member of the ULE before moving on to become global CEO of Chanel. HUL, which reported turnover of ₹ 60,680 crore in FY25, up 2% year-on-year, and profit after tax of ₹ 10,644 crore (up 5% YoY), has seen several other leadership changes in the past year. In March, it appointed Rajneet Kohli, former CEO of Britannia Industries, as executive director, Foods. In December 2024, Vivek Mittal took charge as executive director, Legal and Corporate Affairs. Other recent management committee changes include Vipul Mathur (Personal Care) and Arun Neelakantan (Customer Development). On Gupta's appointment, Priya Nair said: 'I would like to thank Ritesh for his future-focused leadership and invaluable contribution to HUL. His elevation to a global role is a testament to HUL's strong leadership pipeline. I am pleased to welcome Niranjan back to HUL and am confident he will play a pivotal role in steering the company towards its next phase of growth.'
