This article highlights important news events you shouldn’t miss. Covering local and global stories, we’ve gathered the top ten that are making an impact. Join us as we explore the key developments affecting our world today!
1. Government probing EY India employee’s death due to ‘excessive workload’
The Centre announced an investigation into the death of Anna Sebastian Perayil, a 26-year-old chartered accountant at Ernst & Young India, amid allegations of excessive work pressure. The incident triggered widespread outrage on social media after her mother, Anita Augustine, shared a heartbreaking letter to E&Y’s India head, detailing her daughter’s struggles with stress and overwork.
Minister of State for Labour Shobha Karandlaje expressed her sorrow over Anna’s tragic loss and confirmed that the Labour Ministry is examining claims of an unsafe and exploitative work environment. She emphasized the commitment to ensuring justice for the family. BJP leader Rajeev Chandrasekhar described the situation as “disturbing” and called for a thorough investigation.
Maharashtra Deputy Chief Minister Ajit Pawar also highlighted the alarming trend of young professionals facing stress-related health issues, urging E&Y to take corrective measures.
Anna joined E&Y in March and passed away on July 20 after being hospitalized for exhaustion. Her mother’s letter revealed that Anna’s managers were “relentless,” contributing to her declining health. In response, E&Y India pledged to prioritize employee well-being and enhance workplace conditions for its 100,000 employees across India.
2. Government working on new income tax act. Check inside details
The Ministry of Finance plans to introduce a new Income Tax Act aimed at simplifying India’s tax system, according to sources. This proposed framework will replace the existing act, established in 1961, with the goal of streamlining the tax process for individuals and businesses alike. An official announcement is expected during the Union Budget 2025, set for February.
The Finance Ministry is committed to making the tax regime more user-friendly by eliminating redundant sections and subsections, with approximately 125 being targeted for removal. The motto guiding this effort is “KISS – Keep It Simple Stupid,” emphasizing the need to reduce the compliance burden on taxpayers.
Consultations with tax experts and businesses have revealed a strong desire for a simpler, less time-consuming filing process. The upcoming changes will address various aspects, including expenditures, investments, and income reporting, while ensuring clarity to minimize errors.
The current Income Tax Act, in place since 1962, has become increasingly complex, leading to calls for a comprehensive overhaul. A new tax regime introduced in 2020 saw 72% of taxpayers opting for it, underscoring the demand for simpler tax solutions. India’s income tax system has roots dating back to 1860.
3. Amazon India Names Samir Kumar As Country Manager, Replacing Manish Tiwary
Amazon has appointed Samir Kumar as Country Manager for its India operations, adding this role to his existing responsibilities overseeing the company’s consumer businesses in the Middle East, South Africa, and Turkey. This change follows the resignation of Manish Tiwary, the outgoing Country Manager, who is assisting Kumar during the transition. Kumar will officially take on his new duties starting October 1.
The announcement was made by Amit Agarwal, Amazon’s Senior Vice President for Emerging Markets, in an internal email. Kumar, a 25-year veteran at Amazon, was part of the original team that launched Amazon.in in 2013.
With this leadership shift, the current team—including Saurabh Srivastava (Categories), Harsh Goyal (Everyday Essentials), Amit Nanda (Marketplace), and Aastha Jain (Growth Initiatives)—will report directly to Kumar. Kishore Thota (Emerging Markets Shopping Experience) will report to Agarwal.
Agarwal praised Tiwary’s leadership in making Amazon.in a key online platform in India and expressed optimism about the future under Kumar’s guidance. He emphasized India remains a priority for Amazon, with plans to continue transforming lives and enhancing customer experiences.
4. Yamaha launched ‘The Call of The Blue’ 4.0 for young customers
India Yamaha Motor (IYM) has launched the fourth version of its flagship brand campaign, “The Call of The Blue,” aimed at reinforcing its premium positioning in the Indian two-wheeler market. The new slogan, “Hear the Call Now,” builds on the previous campaign, “Have You Heard the Call?” and targets new motorcycle riders seeking aspirational Yamaha products.
This latest campaign emphasizes Yamaha’s ethos, core values, and global heritage, appealing primarily to youth and aspiring riding enthusiasts. It reflects a shift towards superior performance and premium experiences, aiming to capture a larger share of the premium motorcycle segment in India.
Eishin Chihana, Chairman of Yamaha Motor India, expressed pride in providing exceptional motorcycling experiences and reiterated the brand’s commitment to meeting the unique needs of today’s youth. He believes this new campaign will strengthen Yamaha’s market position.
Accompanying the campaign is a new film showcasing Yamaha’s iconic models, featuring young audiences captivated by the brand’s offerings. The film includes a fresh anthem designed to resonate with today’s youth. Yamaha also plans to enhance customer engagement through initiatives like Track Day and community rides, further embedding itself in the Indian motorcycle landscape.
5. Sebi amends rules to streamline public issuance of debt securities
Markets regulator Sebi has revised rules to streamline the public issuance of debt securities, aiming to facilitate faster access to funds for issuers. The amendments include reducing the period for public comments on draft offer documents from seven working days to one day for issuers with listed securities, and five days for others. Issuers must now post the draft offer document on recognized stock exchanges for one day following submission.
Additionally, the minimum subscription period has been shortened from three to two working days. In cases of price band or yield revisions, the bidding period can be extended by one working day instead of three.
Sebi has also introduced flexibility in advertising public issues, allowing issuers to use electronic modes with a QR code and link to the full advertisement in newspapers. Furthermore, the disclosure requirements for non-convertible securities have been simplified by eliminating the need for promoters to disclose their PAN and personal addresses.
These changes, effective September 17, are designed to enhance the ease of doing business and provide greater flexibility for issuers while ensuring that essential operational and financial parameters are clearly disclosed.
6. Karnataka govt considers six days of annual paid menstrual leave for women
Karnataka’s Labour Minister, Santosh Lad, announced that the state is considering a proposal to grant six days of paid menstrual leave per year to women in both the private and public sectors. This initiative aims to support the female workforce, allowing women the flexibility to choose their leave days based on individual needs. A committee has been formed to draft the “Right of Women to Menstrual Leave and Free Access to Menstrual Health Products” bill.
Lad emphasized the importance of this policy, noting that it acknowledges the various life challenges faced by women. Several private companies, including Swiggy and Zomato, already offer menstrual leave, with Swiggy providing two days per month and Zomato granting ten days annually.
Globally, countries like Spain, Japan, and Indonesia have implemented similar policies. In July 2024, the Supreme Court remarked that it is up to the Central and state governments to establish menstrual leave policies, highlighting both potential benefits and drawbacks for women’s workforce participation.
Past legislative attempts, such as the Menstruation Benefit Bill proposed by Arunachal Pradesh MP Ninong Ering in 2017, sought to provide paid menstrual leave but have not been passed.
7. Penetration of feminine care categories lag in rural India: P&G
P&G Hygiene reported sales of Rs 4,192 crores for FY24, marking a 7% increase from the previous year, with operational profits rising 19% to Rs 809 crores. Despite significant growth in the feminine care sector, which has expanded 100-fold over the past 30 years to Rs 3,400 crores, a stark disparity remains between urban and rural markets. Currently, penetration rates stand at about 60% in urban areas compared to below 40% in rural regions, indicating untapped potential.
Mrinalini Srinivasan, CFO of PGHH, expressed optimism for continued double-digit growth in the category over the next three years, citing increased rural consumption driven by softer inflation post-monsoon. The feminine care segment contributes approximately 70% of the company’s revenue.
Innovative products like Whisper Period Panties have fueled this growth, although the company reported a 46.4% decline in profit after tax for Q2 FY24, down to Rs 81.06 crores due to increased spending. The company has focused on productivity, saving Rs 130 crores through efficiency measures and enhancing its supply chain using AI and data analytics.
With urban spending still lagging behind that of China, P&G aims to deepen its market penetration and consumer understanding.
8. How Darwinbox is taking on legacy human resource management players
Darwinbox, founded in 2015 by Chaitanya Peddi, Rohit Chennamaneni, and Jayant Paleti, is emerging as a key player in the competitive human capital management (HCM) market, particularly against established giants like Oracle and SAP. Designed as an enterprise-grade platform, Darwinbox offers a comprehensive suite of HR solutions, including recruitment, onboarding, performance management, payroll, and employee engagement.
Paleti highlighted the platform’s architectural strength as a critical differentiator, allowing for biannual updates and new modules. Recently, Darwinbox has enhanced its offerings with an all-in-one reporting and analytics engine, enabling data-driven decision-making for organizations. Integration with Microsoft Teams further streamlines HR processes, allowing employees to access services directly within their workflows.
Additionally, the company has focused on making its platform AI-ready, introducing a Gen-AI-powered virtual assistant tailored for HR inquiries. This assistant utilizes custom-trained large language models to provide contextualized support. The launch of a mobile app and an advanced payroll system featuring the RIVeR framework—Review, Initiate, Verify, e-approve, Release, and Report—aims to simplify payroll operations for large enterprises. With its innovative approach, Darwinbox is positioning itself for significant growth in the HCM sector.
9. India on track to becoming third-largest economy by FY31: S&P report
According to a recent report by S&P Global, India is on track to become the world’s third-largest economy by 2030-31, with a projected annual growth rate of 6.7% for the current fiscal year. The report highlights an impressive 8.2% growth rate for FY24, emphasizing the importance of continued reforms to enhance business transactions, logistics, and private sector investment while reducing dependence on public capital.
The equity markets are expected to remain dynamic, fueled by strong growth prospects and improved regulations. Notably, foreign inflows into Indian government bonds have surged since the country joined major emerging market indexes, with further growth anticipated.
To maximize trade benefits, the report stresses the need for robust infrastructure, particularly along India’s extensive coastline, as nearly 90% of the nation’s trade is seaborne. It also underscores the rising domestic energy demands, advocating for sustainable technologies, including renewables.
In terms of agriculture, the report calls for advancements in technology and policies to improve infrastructure and productivity. Addressing critical issues such as irrigation and supply distribution is vital for ensuring food security and economic stability. This inaugural study was launched by the S&P Global India Research Chapter.
10. Lenovo Increases AI Server Production in India in the Face of Growing AI Leadership
Lenovo has begun producing AI servers in India, marking a significant expansion beyond its traditional product lines of laptops and smartphones. According to a Bloomberg report, the Chinese tech giant is manufacturing these powerful computers in Puducherry and plans to establish a research facility in Bengaluru focused on AI development.
Earlier this year, Lenovo had indicated interest in leveraging India’s Production-Linked Incentive (PLI) program for IT hardware to enhance its server production capabilities. Vlad Rozanovich, Lenovo’s senior vice president of the Infrastructure Solutions Group, noted that this move aligns with the company’s commitment to its growing data center solutions business, which is expected to see double-digit growth.
Lenovo, which acquired Motorola in 2014, also produces smartphones, desktops, and laptops in India. The PLI scheme, launched in 2020, incentivizes domestic manufacturing and has attracted various global firms.
In a broader context, companies like Apple and Xiaomi are shifting production to India, amid increasing geopolitical tensions. Apple aims for 25% of its iPhone production in India by 2028. Meanwhile, Foxconn is considering AI server manufacturing in India, partnering with Google for Pixel smartphone production. Additionally, Mega Networks plans to start producing AI servers by Q3 FY 2024-2025 under the PLI Scheme 2.0.
