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NEW DELHI: German luxury carmaker Mercedes-Benz will invest Rs 200 crore in India this year on new products, manufacturing operations and digitisation, to strengthen its position after posting record sales of 17,408 units in 2023, a top company official said on Monday. Mercedes-Benz India will have more than 12...
NEW DELHI: The repeated argument that India witnessed a K-shaped recovery post-pandemic is “flawed, prejudiced, and ill-concocted”, said a research report by SBI on Monday. According to the report, post-pandemic, households are reconfiguring their savings towards physical assets, including real estate, it said. “The oft-repeated conundrum debating a K-shaped...
GREATER NOIDA: India’s agriculture exports, which stood at over USD 50 billion at present, are expected to double by 2030 and reach USD 100 billion, Commerce Secretary Sunil Barthwal said on Monday. He said that the country is targeting USD 2 trillion worth of exports of goods and services...
NEW DELHI: India Inc’s earnings for the December 2023 quarter are expected to show strong growth on the back of good numbers from auto manufacturers, banks, capital goods makers, cement producers and residential real estate developers. In aggregate, companies are likely to report a high single-digit increase in profits...
NEW DELHI: Defence Minister Rajnath Singh will leave on Monday for a two-day visit to London, underscoring India’s growing defence relations with the United Kingdom (UK). He will be accompanied by a high-level Ministry of Defence (MoD) delegation, comprising senior officials from the Defence R&D Organisation (DRDO), service headquarters...
NEW DELHI: The government’s dividend collection from non-financial central public sector enterprises (CPSEs) and other investments in this financial year could amount to about ₹55,000 crore, more than a quarter higher than the budgetary target of ₹43,000 crore, said a senior official. However, the Centre could reduce its combined...
MUMBAI: Borrowing by banks climbed last year, on average by as much as two-thirds in aggregate, as the central bank’s liquidity mop-up to tame consumer prices coincided with higher demand for credit and trailing deposit growth. HDFC Bank’s mid-July merger with mortgage-lending pioneer HDFC also caused borrowings to swell...
NEW DELHI: The negotiations on India-Oman free trade agreement that were racing towards concussion may drag a bit longer as Indian petrochemical producers have opposed any deep duty cuts on polypropylene and polyethylene that might be offered in the pact. Both polypropylene and polyethylene, key raw materials for plastics,...
NEW DELHI: Market size of the Indian footwear industry can increase by over three times to USD 90 billion by 2030 provided a host of measures such as a ban on show imports, fiscal incentives, more design centres and Taiwanese contract manufacturers setting up shops in the country are...
NEW DELHI: Rural startups are making a strong pitch for new programmes to foster research and innovation, as the grassroots-level entrepreneurs seek support for streamlined supply chains, subsidies, improved infrastructure, and easy access to finance. As the Budget and the Lok Sabha elections draw closer, startups working in various...
NEW DELHI: Discrepancies in computation of advance estimates of the country’s Gross Domestic Product for 2023-24 stood at Rs 2.59 lakh crore as against (-) Rs 3.80 lakh crore in 2022-23 and (-) Rs 4.47 lakh crore in 2021-22, according to National Statistical Office (NSO). On Friday, the NSO...
CHENNAI: Billionaire Mukesh Ambani on Sunday said his firm Reliance Industries in partnership with Canada’s Brookfield will open a data centre in Chennai next week, marking entry into the fast-growing market. Reliance had in July last year invested about Rs 378 crore to enter an existing joint venture, where...
NEW DELHI: Foreign Portfolio Investors (FPIs) continued their buying spree and poured close to Rs 4,800 crore in the Indian equity markets in the first week of January driven by confidence in the country’s robust economic fundamentals. Additionally, they injected Rs 4,000 crore in the debt market during the...
NEW DELHI: India’s economy is likely to grow a better-than-expected 7.3% in FY24, faster than all major global economies, powered by a double-digit rise in investments, led by government spending, official data released on Friday showed. The first advance estimate of gross domestic product (GDP) is higher than the...
NEW DELHI: Strong demand from both international and domestic markets spurred services sector activity to a three-month high in December, according to a private survey released Friday. The HSBC India Services Purchasing Managers’ Index ended 2023 at 59, higher than the previous month’s reading of 56.9, as per the...
NEW DELHI: The United Nations World Economic Situation and Prospects Report 2024 on Friday revised India’s gross domestic product (GDP) growth estimate for the 2024 calendar year to 6.2 per cent, compared to 6.7 per cent earlier. The report stated: “Economic growth in India is projected to remain strong...
MUMBAI: Market regulator Securities and Exchange Board of India (Sebi) Friday told institutional investors to disclose all short-sell transactions upfront at the time of placing an order. The regulator, however, permitted retail investors to make a similar disclosure by the end of the trading hours on the transaction day....
MUMBAI: The Reserve Bank of India has tightened rules for the issuance of short term Commercial Papers (CPs) and Non-Convertible Debentures (NCDs), with an initial maturity of up to one year. The new norms, which come into effect from April 1, involve six key changes. The tenor of such...