MENU 
NEW DELHI: Union Minister Mansukh Mandaviya said on Thursday said there will be no increase in prices of essential medicines this fiscal year in view of negligible growth in wholesale price-based inflation. In an interaction with PTI editors at the news agency’s headquarters here, Mandaviya — the Union Chemicals...
NEW DELHI: The US on Thursday said permitting an unrestricted Russian oil trade was and remains “unacceptable” and the western price cap on Moscow’s petroleum products is designed to force it to continue selling oil but for lower prices than it could otherwise obtain. At the same time, US...
HYDERABAD: The Telangana government is holding discussions with Tesla by putting in all efforts to establish their plant in the state, Industries Minister D Sridhar Babu said on Thursday. In a message on X Sridhar Babu said since December 2023 the state government has been actively focusing on major...
NEW DELHI: Senior officials of the RBI and the National Payments Corporation of India (NPCI) have made a presentation to the WTO members on reducing cost of remittances on March 25, an official said. India is pressing for the adoption of open and inter-operable payment systems like UPI, among...
NEW DELHI: Private sector lender HDFC Bank on Thursday said its loan book crossed Rs 25 lakh crore in the fourth quarter ended March 2024. The bank’s gross advances aggregated to Rs 25.08 lakh crore as of March 31, 2024, a growth of 55.4 per cent over Rs 16.14...
NEW DELHI: Merchandise exports from India for the financial year 2023-24 (FY24) may show a contraction of around 1-1.5 per cent after two consecutive years of growth, even as March is likely to witness robust double-digit growth, according to initial trade data estimates. The final data is still being...
NEW DELHI: India, the world’s third biggest oil consumer and importer, plans to build its first commercial crude oil strategic storage as part of efforts to shore up stockpiles as insurance against any supply disruption. Indian Strategic Petroleum Reserves Ltd (ISPRL), a special purpose vehicle created by the government...
MUMBAI: US-based private equity (PE) giant Blackstone Group, which has already invested $50 billion in India, plans to inject an additional $25 billion into the country’s economy in the years ahead, with primary focus on infrastructure, data centres, and logistics. “Blackstone continues to escalate its investments and perceives an...
NEW DELHI: The year 2023-24 not only witnessed multi-year high tax buoyancy levels – mainly on the direct taxes front – but also higher level of compliance from taxpayers, and strict enforcement measures against tax evaders. Total tax receipts (before devolution to states) of the Centre in FY24 “slightly...
MUMBAI: Net investments by foreign portfolio investors in the debt market surged to $14.58 billion in FY 2024, making it the highest net inflow in the past six years as investors turned bullish following announcements to include government securities in global indices. Over 70% of the inflows have come...
Strong demand pushed the Services’ Purchasing Managers Index (PMI) to 61.2 in March, S&P Global reported on Thursday. It was 60.6 in February. Earlier, the agency said that manufacturing PMI in March was 59.1, which is highest in 16 years. Performance of these two sectors showed strong economic activities....
NEW DELHI: India is likely to surpass Japan and UK to become the third largest market for Apple in terms of shipments in 2026, according to Counterpoint Research Market Outlook. It said 2023 was a record year for Apple in India. It was the first year when iPhone shipments...
BENGALURU: Indian enterprises have generated nearly half of artificial intelligence (AI) and machine learning (ML) transactions in the Asia Pacific (APAC) region, according to a report by Zscaler. AI adoption trends differ globally as regulations, requirements, technology infrastructure, cultural considerations, and other factors play key roles. At 16 per...
MUMBAI: Loan sanctions by non-bank companies grew 6 per cent on year to ₹4.3-lakh crore as of December 2023, primarily driven by growth in consumption loans such as two-wheeler, consumer, gold, personal and education loans. Person loans grew the highest in absolute terms at ₹14,429 crore, or 27 per...
The cumulative coal production from captive and commercial mines rose by a healthy 27 per cent y-o-y to hit a record 147.2 million tonnes (MT) in the last financial year, which concluded in March 2024. Besides, the dispatch of the critical commodity during FY24 also rose by 30 per...
NEW DELHI: India and the five-nation Eurasian Economic Union (EaEU) that comprises Russia will start formal negotiations for a free trade agreement (FTA) soon. According to sources, officials from the two sides held a meeting late last month for detailed discussions where lead negotiators from both sides also participated....
NEW DELHI: The World Bank on Tuesday upgraded its FY25 economic growth forecast for the Indian economy by 20 basis points to 6.6 per cent, primarily because of “upward revisions to investment growth”. In its latest bi-annual South Asia Development Update, the multilateral lender pegged India’s FY24 growth rate...
NEW DELHI: India’s manufacturing sector ended 2023-24 on a “stellar” note, with the headline Purchasing Managers Index (PMI) soaring to a 16-year high of 59.1 in March, up from 56.9 in February, according to a survey released by HSBC on Tuesday. A PMI above 50 represents expansion in the...