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India.com
2 minutes ago
- India.com
Reliance Industries Gross Debt Rises 7 pc At Rs 3.47 Lakh Crore In FY25, Net Debt Hits Rs 1.17 Lakh Crore
New Delhi: Reliance Industries Limited's (RIL) gross debt and net debt for the financial year 2024-25 stood at Rs 3.47 lakh crore (USD 40.7 billion) and Rs 1.17 lakh crore (USD 13.7 billion) respectively, according to the company's integrated Annual Report 2024-25. The company had registered Rs 3.24 lakh crore in gross debt in FY24. Despite a strong internal cash flow generation, India's biggest private sector conglomerate's leverage remains noteworthy, underscoring the capital-intensive nature of its operations. "Robust internal cashflow generation supported investments in growth opportunities across business, while maintaining a conservative balance sheet and investment grade credit ratings," the company said in its Annual Report. Meanwhile, the Mukesh Ambani-led company reported capital expenditure for the financial year at Rs 1,31,107 crore ($15.3 billion). In FY 2023-24, capex stood at Rs 1,31,769 crore. According to the company's annual report, in FY25, investments were largely directed towards new O2C projects, Retail store expansion, augmenting Digital Services infrastructure and building manufacturing assets in New Energy. Meanwhile, RIL's standalone revenue was at Rs 5,57,163 crore ($65.2 billion), lower by 3.1 per cent as compared to Rs 5,74,956 crore in FY24. EBITDA for the standalone entity fell 14.2 per cent to Rs 74,163 crore ($8.7 billion) from Rs 86,393 crore for the year-ago period, the company said. Despite strong coverage from leading brokerages after the Indian conglomerate reported better-than-expected earnings in the first quarter of the current fiscal year (Q1 FY26), RIL shares fell more than 7% over the past 30 days. According to market analysts, the stock is currently in a corrective phase because the Mukesh Ambani-led company has suffered a significant setback as a result of US President Donald Trump's crackdown on India's imports of Russian oil. In order to process the cheap crude at its massive oil refinery in Jamnagar, Gujarat, RIL was a major importer. However, the shares may start attracting investors from next week as the US hinted at not imposing additional 25 per cent tariffs on the import of Russian oil. Brokerages like Morgan Stanley, Motilal Oswal, Novuma, and Macquarie have either maintained or increased their rating for RIL's stock after the company reported a strong 78 per cent year-over-year increase in its net profit at Rs 26,994 crore in Q1.
NDTV
32 minutes ago
- NDTV
Brazil Is Offering A Digital Nomad Visa For Under Rs 8,800 That Lets You Live And Work There For A Year
Known for its vibrant culture, Brazil has always been a favourite destination among travellers and even among digital nomads. If you have always wanted to live in a beautiful place while working, you might want to apply for this Brazilian visa. Launched in January 2022, Brazil's Digital Nomad Visa or VITEM XIV, allows remote workers to live and work in Brazil for a year. The condition is that you should be employed by a non-Brazilian company. What Is The Brazil Digital Nomad Visa? The VITEM XIV visa is a temporary visa that allows remote workers to live and work in Brazil for a year while employed by a company or clients outside of Brazil. While the visa is valid for a year, it can be renewed once to allow you to stay for up to 2 years in total. Who Is Eligible? To apply for the Brazil Digital Nomad Visa, you will have to meet the following requirements: Be employed by a company located outside Brazil. Must show a monthly income of at least USD 1,500 (Rs 1,31,477 approx.) OR savings of USD 18,000 (Rs 15,77,721 approx.). Have a private health insurance that will cover your stay in Brazil. No criminal record in your home country. How To Apply Step 1: Check your eligibility before applying for the visa. Step 2: Gather all required documents for the application. Step 3: Fill out the application and apply for the visa. You can either apply from India or apply from Brazil via the MigranteWeb platform if you are in the country. Step 4: Book an appointment and submit your documents in person or via mail. Step 5: Pay the visa which is usually around USD 100-150 (Rs 8,765-13,147 approx.). Step 6: Wait for processing, which usually takes around 2-4 weeks. Step 7: If you have applied from your home country, you will receive a visa sticker in your passport to enter Brazil once your application is approved. Documents Required A valid passport, at least for the duration of your stay in Brazil Proof of income Proof of employment that you work for a company outside Brazil Police clearance certificate, apostilled and translated Health insurance valid in Brazil Proof of visa fee payment Completed the visa application form and a recent passport-size photo You should know that a Brazilian Digital Nomad Visa does not directly lead to permanent residency.
Mint
an hour ago
- Mint
Trump tariffs could hit 70% of India's goods exports: Here's what ICRIER recommended to mitigate the impact
Around 70 per cent of India's goods exports to the US, valued at $60.85 billion, are now exposed to the 50 per cent tariff imposed by the US administration, according to an analysis by ICRIER, a economic policy think tank. This is a significant concern for key Indian sectors, although it represents just 1.56 per cent of GDP and 7.38 per cent of total exports, which is far from a catastrophe for India's $3.9 trillion economy. The report by the Indian Council for Research on International Economic Relations, titled 'Navigating Trump's Tariff Blow' outlines the specific challenges posed by these tariffs on several Indian sectors, along with recommending ways to deal with them, ANI said. The US administration, led by President Donald Trump, initially imposed a 25 per cent tariff on Indian goods. This was later increased by another 25 per cent to a total of 50 per cent, a decision reportedly linked with India's continued imports of Russian oil. In contrast to India, competitors such as Vietnam (20 per cent), Bangladesh (18 per cent), Indonesia, Malaysia, and the Philippines (19 per cent), and Japan and South Korea (15 per cent) enjoy lower rates, as per an ANI news report. The impact of the US tariff is heavily concentrated in labor-intensive and high-value sectors, which not only anchor the merchandise exports to the US but also directly affect employment generation and the livelihoods of millions of workers and farmers. These sectors include: Textiles and apparel: This sector now faces a tariff disadvantage of over 30 percentage points compared to rivals like Bangladesh, Pakistan and Vietnam, threatening its competitive position in a key export market. Gems and jewelry: With exports to the US worth $11.9 billion, this sector faces similar challenges against suppliers such as Turkey, Vietnam, and Thailand. Auto parts: Constituting 3 per cent of India's exports to the US, this sector is also vulnerable. Agricultural products: Shrimp exports will be worst hit as 50 per cent tariffs come on top of existing anti-dumping and countervailing duties that India faces, making them uncompetitive with exports from Ecuador, Indonesia, and Vietnam. "These are sectors where buyers can switch sourcing relatively quickly, which gives US importers bargaining power and weakens India's negotiating position," the report said. However, it's important to note that the new US tariff regime excludes pharmaceuticals, energy products, critical minerals, and semiconductors. To mitigate the negative effects of the tariffs, the ICRIER report proposes a three-pronged strategic response for India: Smart negotiations: Engage in logical and rational negotiations with the US to find a mutually agreed resolution. Targeted relief: Provide immediate and targeted relief support to the hard hit sectors to help them deal with the tariff related losses. Trade diversification: On high priority, it's crucial to diversify export markets to reduce dependency on the US and build long-term resilience. President Donald Trump has imposed 'reciprocal tariffs' on dozens of countries with which the US has a trade deficit. Since assuming office for his second term, Trump has reiterated his stance on tariff reciprocity, emphasizing that his administration will match tariffs imposed by other countries, including India, to "ensure fair trade". Post that, India and the US initiated talks for a just, balanced, and mutually beneficial Bilateral Trade Agreement (BTA) in March this year, with an objective to complete the first stage of the Agreement by October-November 2025. Faced with tariffs, during the ongoing Monsoon session of Parliament, Commerce and Industry Minister Piyush Goyal said in a statement that the government is examining the impact of tariffs and will take all necessary steps to safeguard the nation's interest, the ANI news report said. On India's import of crude oil from Russia, the Ministry of External Affairs (MEA) made its position clear, stating that India's imports are meant to ensure the disbursal of affordable energy to the Indian consumer. MEA also said that the targeting of India is "unjustified and unreasonable".
