Business
India’s Private Credit Market Has A Stable Foundation
Whenever financial markets abroad run into trouble, people turn to India and ask if we are next. It is a familiar reaction, and the recent concerns around stress in the US private credit market have sparked the same questions again. I understand the instinct, but as former US President...
EU Likely To Complete FTA Ratification By November
NEW DELHI: The European Union (EU) is expected to complete the ratification of its Free Trade Agreement (FTA) with India by November-end while the broader Comprehensive Economic and Trade Agreement (CETA) will be operational by end-April, a senior official said Thursday. The legal scrubbing of the FTA between India...
Cabinet Clears ₹33.7k Crore Bhavya Scheme For 100 Industrial Parks
NEW DELHI: In a fresh effort to bolster India’s manufacturing prospects, the Union Cabinet on Wednesday approved a ₹33,660 crore plan to develop 100 world-class plug-and-play industrial parks across the country, with the Centre funding up to ₹1 crore per acre as well as up to 25 per cent...
India Blends Sustainability With Growth In Twin-Track Model: MoSPI
NEW DELHI: India is advancing a development strategy that combines economic transformation with environmental sustainability, according to two bulletins released by the Ministry of Statistics and Programme Implementation (Mospi) on the Prosperity and Planet pillars of the Sustainable Development Goals (SDGs). These reports are part of a larger series...
States To Get 10 Per Cent More LPG For PNG Push
NEW DELHI: The Centre has offered states up to 10% additional commercial LPG allocation if they accelerate the shift to piped natural gas (PNG), as supply pressures persist amid disruptions in the Strait of Hormuz and the ongoing West Asia conflict. The move comes with the government flagging LPG...
Axis Bank To Infuse ₹1,500 Crore Into NBFC Arm After RBI’s Approval
MUMBAI: Axis Bank, the country’s third largest private sector lender, said on Wednesday that it will pour as much as ₹1,500 crore as capital into its wholly owned subsidiary Axis Finance. The bank’s board approved the infusion into the non-banking financial company (NBFC) in one or more tranches by...
House Panel Seeks Upward Revision Of Wage Floor
NEW DELHI: A Parliamentary Standing Committee has urged the Ministry of Labour and Employment to raise the National Floor Level Minimum Wage (NFLMW) without any further delay. The floor levels have remained unchanged for several years and no longer reflects current living costs, inflationary pressures, or the essential needs...
Finalise Legal Strategy For Indirect Control Model For PSUs: Parliamentary Panel To DIPAM
NEW DELHI: The Parliamentary Standing Committee on Finance has asked the Department of Investment and Public Asset Management (DIPAM) to finalise a clear legal strategy—such as a ‘golden share’ or indirect control model—to safeguard strategic autonomy in public sector undertakings (PSUs) even if government shareholding drops below 51 per...
Easier PN3 Rules To Clear $10-20 Billion Investments In India
NEW DELHI: India’s recent decision to amend its Press Note 3 framework is expected to pave the way for $10-20 billion global capital investment in India. The move, industry watchers say, addresses a years-long friction point in cross-border capital flows. The Union Cabinet last week approved changes to the...
India’s Chemicals Industry To Reach $255 Billion By 2030: McKinsey
NEW DELHI: India’s chemicals industry is set to outpace economic growth and expand to $ 230-255 billion by 2030, driven by emerging high-growth segments, according to a report by McKinsey & Company. The sector, currently valued at $ 155-165 billion, is projected to grow at a compound annual rate...
SEBI Proposes To Reinstate The Use Of PoA For Incapacitated Investor Accounts
MUMBAI: In a consultation paper issued on Tuesday, the Securities and Exchange Board of India (Sebi) proposed to allow the power of attorney (PoA) holder to operate the investor’s account/folio in situations where the investor is physically incapacitated, but has the capacity to contract. This comes in the backdrop...
Two-Thirds Of Unemployed Youth Are Graduates: State Of Working India Report
NEW DELHI: Over two-thirds of unemployed Indians aged 20–29 were graduates in 2023, with the share of degree holders among the unemployed rising sharply from 46 per cent in 2017 to 67 per cent in 2023, according to the State of Working India 2026 report released by Azim Premji...
India Dials Iran For Safe Transit Of Its Vessels Through Strait Of Hormuz
NEW DELHI: Amid concerns over India’s energy security due to the conflict in West Asia, Indian government sources said on Thursday that New Delhi was in talks with Tehran to provide safe passage for Indian-flagged merchant vessels — especially the 28 of them currently stranded in the region —...
Economists See Crude Price Surge Having Limited Impact On Inflation
MUMBAI: Economists do not see the surging crude prices having a major impact on inflation nor warranting any monetary policy measures by the central bank soon. The comments came on a day when the Centre released the first full month retail inflation based on the new base year for...
China Silent On India’s Move To Ease FDI Norms
NEW DELHI: China has refrained from responding to India’s decision to ease foreign direct investment norms for countries sharing land borders with it, while the Chinese business called the move “partial” opening up, with restrictions still in place on large-scale investments. New Delhi on Tuesday eased foreign direct investment...
Retail Inflation Rose To 3.2 Per Cent In February On Higher Food, Precious Metal Prices
NEW DELHI: India’s retail inflation rose to 3.21 per cent in February from 2.74 per cent recorded in January, driven by higher food inflation and continued pressure from rising gold and silver prices, according to data released by the National Statistics Office (NSO) on Thursday. The February reading, which...
Reporting Change To Lift Bank Credit Growth In FY26
MUMBAI: A technical tweak in the way banks report fortnightly balance-sheet data may swell India’s credit numbers by more than Rs 2 lakh crore this year and lift measured loan growth by over a percentage point. The change concerns the date on which banks report credit and deposit figures...
NITI Aayog Urges States To Follow Fiscal Deficit Norms Under FRBM Act
NEW DELHI: Government think tank Niti Aayog on Wednesday urged state governments to adhere to fiscal deficit norms under the FRBM Act through disciplined expenditure management, broadening the GST base, and enhancing their own tax capacity. The Fiscal Responsibility and Budget Management (FRBM) Act aims to regulate the country’s...
