Representative image New Delhi: GST collections jumped 15 per cent to nearly Rs 1.68 lakh crore in November on increased domestic activity and festive season buying, the finance ministry said on Friday. Goods and Services Tax (GST) mop-up was over Rs 1.45 lakh crore in November 2022. "The gross GST revenue collected in the month of November 2023 is Rs 1,67,929 crore, out of which CGST is Rs 30,420 crore, SGST is Rs 38,226 crore, IGST is Rs 87,009 crore (including Rs 39,198 crore collected on import of goods) and cess is Rs 12,274 crore (including Rs 1,036 crore collected on import of goods)," the ministry said in a statement. The November 2023 collections are, however, lower than Rs 1.72 lakh crore mopped up in October -- the second-highest collection ever since the GST rollout. Revenues ...

Representative imageIndia matters, and all over the world, luxury brands are looking at India, says Bénédicte Epinay, CEO of Comité Colbert, the official luxury association of France that represents 93 luxury brands and behemoths such as LVMH, Chanel and Kering.“Is India the next promising market? There are obstacles such as custom duties and the bureaucracy, but it probably is, because you have all the ingredients,” Epinay told ET. “You have the consumers, you have the appetite for refinement, you have the taste to understand luxury, and you have the passion to show off.”She was here for the first Indo-French luxury symposium, or ‘IFCCI Luxury Symposium’, held in New Delhi on Wednesday.“Post Covid, we are back to a new normal. Brands are seeing a growth of about 5-10% globally, which is w...

Authentic Brands Group (Authentic), a global brand development, marketing and entertainment platform, has announced a long-term partnership with Sakar International (Sakar), a top manufacturing company for Reebok. Through the partnership, Sakar will design, manufacture and distribute Reebok-branded basketball, pickleball, baseball, soccer and football equipment, as well as electronics, including audio, tech and massage products."We are pleased to partner with Sakar International to expand the Reebok brand into new product categories,” said Steve Robaire, EVP of Reebok at Authentic. “This partnership continues the momentum of Reebok’s return to sport on the heels of the Shaquille O’Neal, Allen Iverson, Justin Fields and Angel Reese announcements as we re-enter the sport equipment industry w...

New Delhi: The government is aiming to position itself as a textile sourcing and investment destination through seven Pradhan Mantri Mega Integrated Textile Region and Apparel (PM MITRA) parks with an investment of ₹70,000 crore in the next 5 years, said textile secretary Rachna Shah. The government is looking to attract foreign direct investment (FDI) through PM MITRA and several other schemes. “We are hopeful that seven PM MITRA parks will emerge as growth centres in the textile sector, seeking the support of global investment players to invest in India and source textile from India," Shah said. The ministry is also focusing on increasing footprints in technical textiles, which is a growing market. Currently, India is exporting technical textiles, inclu...