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NEW DELHI: The Indian economy likely grew a better-than-expected 6.8% in the last quarter of FY24, according to the median forecast of a poll of 15 economists, propelled by strong growth momentum and strengthening demand. The strong March quarter print could lift overall gross domestic product (GDP) growth for...
NEW DELHI: The ministry of commerce is working to codify the experience gained through intensive negotiations on the Free Trade Agreements (FTAs) in the past few years and compile it as Standard Operating Procedure for future guidance and reference. “After doing several agreements now we have got this experience,...
NEW DELHI: The finance ministry is likely to raise the CPSE dividend estimates by Rs 5,000 crore to around Rs 53,000 crore for the current fiscal in the full budget to be presented in July. In the interim budget 2024-25, the government had pegged dividend estimates from non-financial central...
NEW DELHI: India Ratings and Research (Ind-Ra) on Tuesday said the revamping of the built-operate-transfer (BOT) model is a tactical move to attract private capex, which is estimated to surpass Rs 1 trillion by 2030, as per the government. According to the rating agency, during the past seven years,...
CHENNAI: Chemplast Sanmar Ltd, part of the SHL Chemicals Group on Tuesday said the phase II expansion of the Custom Manufactured Chemicals division was on track for completion. The city-based company, engaged in the manufacturing of specialty chemicals declared revenues of Rs 1,051 crore for the January-March 2024 quarter...
NEW DELHI: India’s rank on the World Economic Forum’s Travel & Tourism Development Index 2024 has risen to 39th place, with global tourism activities returning to pre-pandemic levels, the annual report showed on Tuesday. While the US topped the list, India is ranked highest in South Asia and among...
NEW DELHI: Glenmark Pharmaceuticals on Tuesday said its unit has inked a marketing and distribution agreement with BeiGene to commercialise the latter’s oncology medicines, Tislelizumab and Zanubrutinib in India. Glenmark Specialty SA, a unit of Mumbai-based drug maker, has inked exclusive marketing and distribution agreement with BeiGene. “The addition...
NEW DELHI: State-owned Oil and Natural Gas Corporation’s (ONGC) March quarter net profit soared 19 times as the year-ago period had a one-time exceptional provision, while it posted a record earning for the full fiscal. The company’s standalone net profit of Rs 9,869 crore in January-March — the fourth...
NEW DELHI: Markets regulator Sebi has revamped the method for calculating the market capitalisation of listed companies under the Listing Obligations and Disclosure Requirements (LODR) rules. Instead of using the market capitalisation of a single day (currently March 31), listed companies will now use the “average market capitalisation” for...
MUMBAI: Benchmark BSE Sensex declined by nearly 53 points in a volatile trade on Tuesday amid weak trends from Asian and European markets and fresh foreign fund outflows. The 30-share Sensex declined 52.63 points or 0.07 per cent to settle at 73,953.31. During the day, it hit a high...
MUMBAI: The Reserve Bank of India (RBI) is likely to transfer approximately Rs 1 lakh crore to the government IN FY25 according to a report by Union Bank of India. The report said that RBI is anticipated to maintain a robust dividend payout for the fiscal year 2025 (FY25)....
NEW DELHI: 5G may be touted as one of the fastest-growing mobile offerings in India, but poor quality of services has raised concerns within govt, which has now decided to tighten the quality norms to ensure reduction in call drops and better internet speed. “We are concerned on the...
NEW DELHI: The Centre has asserted that the Faster Adoption and Manufacturing of Electric (& Hybrid) Vehicles in India (FAME-II) guidelines were clear and the companies defaulted the guidelines knowingly. The Ministry of Heavy Industries has formed a panel headed by the Additional Secretary to investigate the FAME-II scam...
NEW DELHI: The share of women employed in regular salaried jobs in urban India hit a fresh low in the January-March quarter (Q4) of 2023-24 (FY24). In the same period, the share of women engaged in self-employment went up. An analysis of the latest quarterly Periodic Labour Force Survey...
NEW DELHI: The government has recovered about Rs 852 crore under the amnesty scheme for exporters for one-time settlement of default in export obligation by the holders of advance and EPCG authorisations, an official said. The figures are likely to increase further as the exercise is on for the...
NEW DELHI: Reliance Industries Ltd has sought access to pipelines and storages that public sector oil companies have built over the years for supplying jet fuel (ATF) from depots and oil refineries to airports, as it looks for a larger pie of fuel trade at some of Asia’s busiest...
NEW DELHI: The commerce ministry has held detailed discussions with senior officials of different departments and trade experts on formulating standard operating procedures (SOP) for negotiating free trade agreements (FTAs), an official said. To discuss the various aspects of these agreements, the commerce ministry has organised a two-day ‘Chintan...
NEW DELHI: The government on Saturday said India is expecting good response from many automobile companies on its electric-vehicle (EV) policy, which was released in March to attract global players like Tesla. Secretary in Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh said that in...