Every week, catch up on the best long form stories from Forbes India. Often peppered with our binge-worthy podcasts, videos or infographics too. Image: Shutterstock1) Explained: Crypto TDS and retail investors
In 2022, when Finance Minister Nirmala Sitharaman introduced crypto taxation, crypto transactions in India saw a sharp decline. The cumulative trade volume of around Rs 32,000 crore from domestic centralised virtual digital assets (VDA) exchanges moved to foreign exchanges. More than 17 lakh users switched to foreign exchanges to avoid taxes. Now, the fine print of Union Budget 2023 mentions a penalty on non-payment of TDS on VDAs equal to the unpaid TDS that will be imposed by a joint commissioner, or a jail term for up to six months. Experts now say the amendments in the Income Tax Act under section 271C about VDAs will further confine the growth of the industry and lead to more investors switching to foreign exchanges to avoid taxes. Read more 2) Road less travelled
The history of humans exists because we tend to travel and record. We know of stories related to the Silk Road, Amber Road, and even the Grand Trunk Road. These routes were crucial in shaping the world economy and globalisation. In modern times, these travels are not as difficult. And if you have the means, these expeditions can also become exhilarating, luxurious campaigns. From the Fjords of Norway to Scottish Highlands to Thai beaches, to the mountains of Spiti Valley, travel companies are offering experiential road trips, complete with the choicest luxuries. Indian tourists are taking this plush leap and also recording high repeat rates. Here's a look at some of the more ambitious tours on offer. Read more 3) The ones we couldn't ignore
Finding unconventional solutions to unique problems, bridging crucial market gaps and building businesses and careers to last are just some of the characteristics the Forbes India 30 Under 30 jury looks for when finding a new class every year. The Class of 2023 is no different. Their entrepreneurial work is a loud display of their purpose and showcases their laser-sharp focus. They are led by their passion and are all outliers in their fields and people to watch for the next decade. But several others came close to making the cut. This is the lot we could not ignore, and you cannot either. From art to finance to sports, here are the young achievers who missed the list by a whisker.Read more
Discover1) Queen of M&A
Manisha Girotra is an ace dealmaker who has played a pivotal role in enabling prominent business houses to ink strategic pacts for expansion. The CEO of Moelis India stitched some of the most pathbreaking multi-billion dollar deals that changed the face of India Inc. She closed one of the largest cross-border deals in India—the acquisition of Hutchinson Essar by Vodafone. Her other big-ticket deals include the IPCL-Reliance merger, the privatisation of VSNL, and many blue-chip corporate listings. More recently, she advised HDFC on its $60.5 billion merger with HDFC Bank. In this conversation for Forbes India Pathbreakers, Girotra reminisces about her childhood in Shimla, and how it put her on the path of excellence and hard work as an investment banker. She talks about how M&A has changed in the last thirty years, and the ocean of opportunities available in India currently. Watch here
2) Is Budget 2023 too ambitious?
Budget 2023 focused on capex-led growth, improving the quality of government spending, and providing a fiscal consolidation path. It was presented against a crucial macro-political backdrop, with an expected slowdown in global growth, a smaller nominal GDP buffer and ahead of the general elections in 2024. Navigating the growth paradox amid an increasingly volatile global backdrop remains a key challenge for the government this year. But, what if growth slows down further in FY24, due to recession in developed markets and the lagged impact of tighter monetary policy? The Economic Survey projected nominal GDP growth of 11 percent YoY in FY24, yet the Budget assumed 10.5 percent nominal GDP growth next year. So, are the budget numbers overly optimistic? What will be the implications? Radhika Rao, Senior Economist, DBS Group, helps dissect all this and more. Listen here 3) The evolution of Ameera Shah
At 21, Ameera Shah decided she wanted to build a purpose-led business. Her father, a pathologist, and her mother, a gynaecologist, were both running practices for 20-25 years. Seeing that pathology was a lot more scaleable, Shah decided to turn her father's small-scale practice into a business institution. It wasn't always easy. Changing the organisation's culture to focus on things such as return on investment and customer experience was a big hurdle. Today, Metropolis Healthcare is one of India's largest diagnostic companies. In this episode of Leadership Mantras, Shah talks about the challenges of working through the pandemic, not pressurising yourself to be a perfectionist, the concept of "trade-offs" and a lot more. Watch here 4) Changing roles of CTO
In this episode of the Daily Tech Conversation podcast, Ashish Khushu, CTO at Larsen & Toubro Technology Services, India's biggest pure-play engineering services provider, talks about the company's six big bets, and how its engineers are co-innovating with experts from some of the biggest enterprises in the world. LTTS, a Mumbai-listed company, today has about 22,000 employees and revenues of close to a billion dollars. Ashish also talks about the changing role of the CTO in a world where change isn't being driven only by new technology, but by the convergence of multiple technologies and their applications. Listen here
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