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Shaan-e-Pakistan renamed as ‘Kya dilli, Kya Lahore’

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New Delhi: Shaan-e-Pakistan, a fashion and lifestyle exhibition celebrating the craft and cultural legacy of India and Pakistan, has been rechristened as ‘Kya Dilli, Kya Lahore’ and will now be hosted in Lahore instead of Indian capital Delhi.

Huma Nassr will organise the event later this year.

“We are delighted to host the second edition of Shaan-e-Pakistan here in Pakistan itself and what better place than the epicentre of culture, cuisine, history and more which is Lahore.

“Our first show in Delhi was met with much support and an overwhelming enthusiasm from patrons as well as developed those business networking opportunities between Pakistani and Indian retailers. With ‘Kya Dilli, Kya Lahore’, we are looking to extend this even further, bringing a slice of India to Pakistan bringing them together on one platform,” Nassr said in a statement.

The three-day event will start on March 20, said a statement.

Shaan-e-Pakistan 2015 brought together Pakistani and Indian fashion designers, retail brands, models, culinary forces, handicraft industries, music, entertainment and lifestyle personalities on one platform and with the second edition, the organisers have planned more.

India-Pakistan ties had suffered because of Pathankot attack last month. Since then there have been efforts from both the countries to make relations better again. Both the nations share historic rich cultural ties. Narendra Modi had paid a surprise visit to the neighboring country in December last year

(IANS)(pic courtesy:socialdiary.pk)

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Automotive Industry To Benefit From Corporate Tax Cut, Says ICRA

India's automotive industry is likely to be one of the key beneficiaries of the recent corporate tax cut, credit ratings agency ICRA said on Monday

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India, Tax cut, Automotive Industry
India's automotive industry is likely to be one of the key beneficiaries of the recent corporate tax cut. Wikimedia Commons

India’s automotive industry is likely to be one of the key beneficiaries of the recent corporate tax cut, credit ratings agency ICRA said on Monday.

“Under the current weak demand conditions, OEMs (original equipment manufacturers) are expected to pass on some of the benefits of tax revision to the end consumers,” ICRA Vice President and Sector Head Pavethra Ponniah was quoted in a statement.

“This implies that the price correction in coming months will to an extent address the demand side issues. Moreover, clarity from the government, that there is no further GST or cess revision, will help consumers who were waiting for improved clarity prior to their car purchase decision,” she added.

According to ICRA, the current reduction of corporate tax rates in India to globally competitive levels will incentivise OEMs and their vendors to increase localisation, which augurs well for the industry.

In 2019-2020, India has imported auto components worth $17.6 billion.

India, Tax cut, Automotive Industry
the current reduction of corporate tax rates in India to globally competitive levels will incentivise OEMs and their vendors to increase localisation. Pixabay

ICRA also said that given the increasing US-China trade tensions, revision in corporate tax will attract FDI in Indian manufacturing sector, as the revised tax structure is now in line with other emerging markets.

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“In the current fiscal, the Indian automotive industry, especially the passenger vehicle segment, has witnessed one of the worst slides since the last two decades because of multiple factors,” the ratings agency said in a statement.

“Tighter financing environment for consumers and the liquidity crunch faced by dealerships coupled with weak farm income and overall slowdown in economic activity has impacted consumer sentiments and purchasing behaviour,” the statement added. (IANS)