Business
Next Round Of Talks For Proposed Trade, Investments Agreement Between India, EU Likely In September
NEW DELHI: Senior officials of India and the 27-nation European Union (EU) are expected to hold the next round of talks for the proposed free trade agreement, which aims at boosting commerce and investments, in September, an official said. Joint Secretary in the Department of Commerce Darpan Jain said...
Govt Aims To Cover 25% Of Kharif Paddy Area With Climate-Resilient Seeds
NEW DELHI: In a bid to combat the growing challenges posed by climate change, the government is targeting to bring 25 per cent of the total kharif paddy area under climate-resilient seeds, a senior agriculture ministry official said on Monday. The move comes as erratic rainfall patterns have become...
Imports From Bangladesh Aggravate Jute Sector Crisis: Stakeholders
KOLKATA: A body of jute suppliers have written to Union Minister Giriraj Singh, alleging that raw material imports from Bangladesh, either directly by mills or through third parties, have adversely impacted the industry and farmers. In a letter to the textile minister, the Jute Balers’ Association has raised concerns...
Hindustan Zinc Contributes Rs 13,195 Crore To Exchequer In FY24
NEW DELHI: Vedanta group firm Hindustan Zinc Ltd (HZL) on Monday said it has contributed Rs 13,195 crore to the exchequer in the last financial year, representing about 46 per cent of its total revenues. In FY 2023-24, Hindustan Zinc’s total contribution to the exchequer stood at Rs 13,195...
Automobile Retail Sales Up 9% In April-June: FADA
NEW DELHI: Automobile retail sales increased 9 per cent year-on-year in June quarter FY25 with all segments, barring tractors, reporting growth, dealers’ body FADA said on Monday. Overall retail sales rose to 61,91,225 units in the April-June period from 56,59,060 units in the same quarter of FY24. Passenger vehicle...
India Sees Fastest Growth In Electronic Waste Generation: UNCTAD Report
NEW DELHI: India saw the highest 163 per cent growth globally in generating electronic waste from screens, computers, and small IT and telecommunication equipment (SCSIT) between 2010 and 2022, according to a United Nations Trade and Development (Unctad) report. The ‘2024 Digital Economy Report: Shaping an environmentally sustainable and...
Govt Likely To Pay Bond Interest Dues Of MTNL, Assuring No Default
NEW DELHI: The government will pay the bond dues of ailing Mahanagar Telephone Nigam Ltd (MTNL), a DoT source said assuring that there will be no default, and that the amount will be paid before the due date of July 20. The move assumes significance as it would avert...
Firms May Get Incentives For Incremental Job Creation
NEW DELHI: The government may introduce an employment-linked incentive scheme (ELIS) for companies in the Budget 2024-25 in a bid to promote job creation. The provisions of the ELIS would be similar to that of the production-linked incentive (PLI) scheme and it would be applicable to a few labour-intensive...
FPIs Invest Rs 15,352 Crore In Indian Equities During First Two Weeks Of July
NEW DELHI: Foreign investors infused Rs 15,352 crore into Indian equities during the first half of this month, driven by the government’s commitment to ongoing reforms, low US Federal rates, and strong domestic demand. The upcoming Union Budget will be one of the most watched events by foreign investors...
Talent Crunch Hits Big Five Audit Firms As CAs Opt For Safer Avenues
NEW DELHI: The Big Five audit firms in India are facing a talent crunch. A regulatory clampdown and a higher number of “relatively safer” career opportunities elsewhere are pulling chartered accountants (CAs) away from the audit profession. A senior partner at a Big Five firm told FE that the...
Govt May Introduce Insurance Laws Amendment Bill In Budget Session
NEW DELHI: The government is likely to introduce a bill seeking amendments to the Insurance Act, 1938, during the upcoming Budget session to achieve ‘Insurance for All by 2047’. Some of the provisions, which could be part of the amendment bill, include composite license, differential capital, reduction in solvency...
Govt Should Rope In PSU Firms To Ensure Fermented Organic Manure Off-Take: IBA
NEW DELHI: Indian Biogas Association (IBA) has suggested that the government should rope in state-owned fertiliser marketing companies to ensure off-take of fermented organic manure to boost the sector. Talking to PTI in an interaction, IBA Chairman Gaurav Kedia said, “Present production of FOM (fermented organic manure) in the...
India To See Retail Digital Payments To Double To USD 7 Trillion By 2030: Report
NEW DELHI: With digital adoption fast gaining currency, India is likely to see retail digital payments double to USD 7 trillion by 2030 from current levels, a study by Kearney and Amazon Pay said. In the report ‘How Urban India Pays’, Kearney-Amazon Pay said strong adoption of digital payments...
Indian AC Industry Likely To Double In Next Four Years, Says Blue Star
NEW DELHI: The air-conditioning industry, valued at around Rs 27,500 crore (USD 3.3 billion), is likely to double in the next four years, Blue Star has said in its annual report. The Indian HVAC&R (heating, ventilating, air conditioning and refrigerating) is poised for exponential growth, said Blue Star Chairman...
Tier 1 Cities Dominate In Blue-Collar Gig Job Opportunities: Report
MUMBAI: With a rise in gig economy, tier-one cities led in short-term blue-collar employment opportunities, accounting for 67.1 per cent openings from June 2023 to June 2024, a report said on Saturday. These tier-I cities, which have a large concentration of gig working opportunities, saw 63.11 per cent job...
India’s Retail Inflation Rises To 5.08% In June; IIP Grows 5.9% In May
NEW DELHI: India’s retail inflation rate in June reversed its five-month downward trend owing to an increase in food prices, and crossed the 5 per cent mark, prompting analysts to predict an extended pause on policy rates by the Reserve Bank of India (RBI). Separately, growth in the index...
India Can Be World’s Second-Largest Economy By 2031: RBI DG Patra
MUMBAI: It is conceivable that India can become the world’s second-largest economy by 2031 and the largest economy by 2060, given the country’s inherent strengths, said Reserve Bank of India (RBI) Deputy Governor Michael Debabrata Patra. Speaking at the Lal Bahadur Shastri National Academy of Administration, Mussoorie on Tuesday,...
No Merger: Government Looks To Shift MTNL’s Operations To BSNL
NEW DELHI: Having failed to come up with a viable proposition, government is now looking to hand over the operations of ailing telecom PSU MTNL to its bigger sibling BSNL, instead of merging the two state-run firms that have repeatedly been handed out bailouts, including around two years ago.The...
