{
Suresh Narayanan

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switzerland withdraws mf n status for india but nestle india unaffected

Switzerland has withdrawn the Most Favoured Nation (MFN) status granted to India following a Supreme Court ruling affecting Nestlé and other companies. Nestlé India stated that this decision will not impact its operations, as it has been deducting a 10% withholding tax. The Swiss authorities noted that the ruling highlighted a lack of reciprocity regarding the Double Taxation Avoidance Agreement, leading to higher tax demands on dividends for Swiss and other multinational companies.
BusinessLine
United States Dollar Nestlé S.A. CHE IND Kamal Narang Suresh Narayanan
Regulatory & Legal, News Article
11:09 18.12.2024

rural demand struggles amid rising costs and stagnant income levels

Rural demand in India has recently surged, primarily driven by increased borrowing, but concerns linger over urban demand and economic conditions. Maruti Suzuki's Chairman highlighted a decline in sales of sub-Rs 10 lakh cars due to stagnant incomes and rising fuel prices, while Nestle's MD noted sluggish growth in the FMCG sector, with food and beverage growth dropping to 1.5-2%. The RBI is urged to consider a rate cut as demand across major sectors moderates.
Moneycontrol
Indian Rupee Nestlé India Limited Maruti Suzuki India Limited IND Nagesh Kumar R C Bhargava Suresh Narayanan Show more
Finance & Economy, Market Report
11:17 30.10.2024
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