Business news from India: June 29

• Shubham
• 29 June, 2022

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By: Shubham Ghosh

HERE are some business news from India for Wednesday, June 29, 2022:

Mukesh Ambani’s daughter Isha set to head Reliance Retail: A day after his son Akash Ambani was appointed as the chairman of Reliance Jio Infocomm, Mukesh Ambani’s daughter Isha Ambani’s promotion followed as she was set to be named as the chairperson of the Reliance conglomerate’s retail unit. Isha, who is the twin sister of Akash, is currently the director of Reliance Retail Ventures Ltd.

GST Council gives GoM three months to decide on rate rationalization: India’s Goods and Services Tax (GST) Council has accepted recommendations of a group of ministers on rectifying the inverted duty structure while giving the panel three more months to take a call on rate-rationalisation measures, officials said on Wednesday, Moneycontrol reported.

Mutual fund significantly under-penetrated in India: HDFC Asset Management Company chairman Deepak Parekh has said that India’s mutual fund industry remained significantly under-penetrated as the country’s penetration levels were significantly lower than global averages. “The MF industry in India remains significantly under-penetrated compared to global averages,” Parekh said he addressed the HDFC AMC’s 23rd Annual General Meeting, Moneycontrol reported.

Inflow Technologies launches next-gen Cisco Center of Excellence to accelerate adoption of emerging technologies: Inflow, a leading player in the IT Distribution Services market in India and South Asia, in partnership with Cisco, launched a next-generation Center of Excellence (CoE) at Inflow’s office in Bengaluru. The centre aims to provide partners and customers with the finest experience of Cisco’s solutions and accelerate the adoption of emerging technologies, ANI/PNN reported.

Kappde launches B2C website to help Indian women to shop exquisite clothing collections under ‘Vocal for Local’ mission: Kappde, a leading Indian women’s clothing brand, has launched its B2C website under the ‘Vocal for Local’ mission to facilitate Indian women of all ages to shop for exquisite collections ranging from casuals to smart casuals and party formals, ANI/PNN reported.

India permits local oil producers to sell to private companies: The Indian cabinet on Wednesday approved a plan under which local crude producers can sell oil to private companies, a move that is expected to help raise revenue of state-run producers such as ONGC and Oil India.