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NEW DELHI: Growth in the Indian manufacturing sector recovered some of the ground lost in May, as the headline Purchasing Managers Index (PMI) figure released by HSBC on Monday rose to 58.3 from 57.5 in May. The recovery in the sector was based on the back of buoyant demand...
NEW DELHI: Updated new base years for national accounts and other macro-indicators are expected to come into effect from January-February 2026, coinciding with the first and second advance estimates of national income for FY26, senior official sources aware of the development told Business Standard. “The statistics ministry set up...
NEW DELHI: India’s crude oil imports from Russia zoomed to a 13-month high in June even as the discounts on Russian crude have narrowed, according to an analysis of data provided by intelligence firm Vortexa. The significant increase in Russia’s share in India’s oil imports can also be attributed...
NEW DELHI: The government has allowed global tenders to be floated for procurement of 354 medical devices after the health ministry raised concerns over the lack of domestic options, a move that could ease access to state-of-the-art medical devices which are not available in the country, said people familiar...
NEW DELHI: The policy for Digi Yatra — a digital platform to verify air travellers using biometric data — needs to spell out all the rules related to deletion of passenger information from the database once the travel is complete, according to a study instituted by NITI Aayog. There...
NEW DELHI: Goods and Services Tax (GST), which completed 7 years of implementation on Monday, has brought happiness and relief to every home through reduced taxes on household appliances and mobile phones, the finance ministry said on Monday. GST, which subsumed about 17 local tax and cesses, was rolled...
MUMBAI: TVS Mobility group on Monday said its subsidiary SI Air Springs has acquired Italy-based automotive components supplier Roberto Nuti Group, which will help it broaden the product range and strengthen its position in the global market. The pact between the two partners includes the 100 per cent purchase...
NEW DELHI: Realty firm Sattva Group is bullish on India’s housing market and will launch many projects to achieve 85 per cent growth in sales of residential properties to around Rs 6,500 crore this fiscal, a top company official said. In the 2023-24, Bengaluru-based Sattva Group achieved sales bookings...
NEW DELHI: Domestic macroeconomic data announcements, global trends and trading activity of foreign investors would guide market sentiments this week, analysts said. After a record rally, markets may face volatile trends this week amid elevated valuations and investors would also keep a track of global oil benchmark Brent crude...
NEW DELHI: Large multinational corporations operating in India particularly digital majors conducting global tax impact assessments, are anxiously awaiting clarity as US ratification of the OECD tax deal appears unlikely due to a deadlock in the US Senate, with the self-imposed deadline for agreeing to the Multilateral Convention (MLC)...
NEW DELHI: Growth in the output of eight key infrastructure industries — known as the core sector — slowed to 6.3 per cent in May from 6.7 per cent in April. The slowdown was on the back of a sequential deceleration in the output growth of six sectors during...
NEW DELHI: Consumers should now get ready to pay higher phone bills at frequent intervals with the telecom operators hiking tariffs by up to 25% in the past two days. While Reliance Jio hiked tariffs by 12-25% on Thursday, Bharti Airtel went for a 10-21% increase, followed by 10-23%...
NEW DELHI: The power ministry on Friday directed domestic coal-based power plants to continue the blending of imported coal with local variant till October 15, 2024, while revising the blending percentage to 4%, from 6% now. The move is in the wake of the rising demand and apprehensions of...
NEW DELHI: In its brief outcome statement, the Financial Action Task Force (FATF), a global anti-money laundering watchdog, has put India in the “regular follow-up” category and underlined the need to address delays in concluding prosecution in cases on money laundering and terror financing. The “regular follow-up” category, a...
NEW DELHI: Oil & Natural Gas Corporation (ONGC) has awarded a multimillion-dollar deal to a leading contracting player for work on a key package, for the eighth development phase of its pipeline replacement project (PRP-8) offshore western India. PRP is ONGC’s flagship offshore job, with work usually performed every...
NEW DELHI: In a significant strategic move, GAIL (India) Ltd has revised its target to achieve net zero carbon emissions to 2035, advancing it by five years from the initially set goal of 2040. The board of directors of GAIL approved this advancement on Friday. The company stated, “GAIL...
NEW DELHI: India’s coal sector is set to increase its production to approximately 1.1 billion tonne next year, registering a compound annual growth rate of 11 percent over the past two years, said M Nagaraju, Additional Secretary, Ministry of Coal. Speaking at the FICCI workshop titled ‘Coal Matrix for...
Coal Ministry Additional Secretary M Nagaraju said on Friday the Centre is working on a policy to offer washed coking coal to the steel sector as it aims to reduce imports of the dry fuel. Addressing a FICCI event, Nagaraju noted that the Indian coal sector is witnessing a...