Business
Augmont Expands Into LGD Market
MUMBAI/NEW DELHI: Augmont, India’s largest fully integrated gold player, on Thursday announced its strategic expansion into the Lab-Grown Diamond (LGD) market with the launch of Akoirah. Lab-Grown Diamonds are transforming the jewellery industry, offering a brilliant, sustainable alternative to mined diamonds. The global LGD market is projected to reach...
Reducing Fiscal Deficit To Around 3% Of GDP Difficult: Govt To IMF
NEW DELHI: A fiscal deficit of around 3 per cent of the gross domestic product (GDP) for the central government, as advocated by the International Monetary Fund (IMF), is difficult since a significant amount of capital expenditure previously undertaken by state-owned enterprises (SOEs) has been brought onto the central...
DCGI Streamlines Drug Export Approval, Plans Revised Biosimilar Guidelines
MUMBAI: To simplify export procedures and enhance regulatory efficiency, the Drugs Controller General of India (DCGI) has announced overhauling the process of granting no-objection certificates (NOCs) in exporting unapproved drugs. Previously, companies exporting drugs from India had to apply for a customer- and quantity-specific NOC each time they received...
No Need For Private 5G Networks In India Amid Wide Telecom Reach: COAI
NEW DELHI: Given India’s widespread telecom penetration, the need for enterprises to establish private 5G networks is virtually non-existent, telecom operators reiterated on Thursday. The Cellular Operators Association of India (COAI), which represents Reliance Jio, Bharti Airtel and Vodafone Idea said Captive Private Networks or Captive Non-Public Networks (CNPNs),...
PSU Banks To Submit Plans For Raising Capital By Next Month
NEW DELHI: State-run banks will submit a strategic road map to the government next month, outlining their plans for capital-raising and business expansion for financial years 2025-26 to 2027-28, people familiar with the development said. These plans would play a key role in the government’s decision on paring its...
India Needs To Ramp Up Bilateral Relations For Trade, Investment: Nirmala Sitharaman
NEW DELHI: Finance Minister Nirmala Sitharaman on Thursday said India needs to ramp up its bilateral relations for trade and investment, as the world is witnessing a churn, and bilateralism seems to be the new catalyst tool. Speaking at BS Manthan, the Finance Minister said these are very interesting...
Government Working On To Get Critical Mineral Assets, Says Mines Secretary
NEW DELHI: The government on Thursday said that the country is scouting for mining and exploration of critical mineral assets in Congo, Zambia, Tanzania and Australia. Speaking at a press conference here, Mines Secretary V L Kantha Rao said, “The Australian government is working with KABIL….There are also other...
AI In Healthcare To Contribute $30 Billion To India’s GDP By 2025: Deloitte
NEW DELHI: Artificial Intelligence (AI) in healthcare is projected to contribute $25-30 Villion to India’s GDP by 2025, enhancing accessibility, diagnostics, and treatment outcomes, according to a report by Deloitte. Government-backed initiatives like the IndiaAI Mission and the Digital Personal Data Protection Act, 2023, are setting the stage for...
Punjab Cabinet Approves New Excise Policy For 2025-26
CHANDIGARH: The Punjab Cabinet on Thursday approved a new excise policy for 2025-26, which aims to collect `11,020 Crore of revenue. The nod was given in a meeting of the council of ministers chaired by Chief Minister Bhagwant Mann. Addressing the media after the Cabinet meeting here, Finance and...
India Set To Be Third Largest Consumer Market By 2026: Report
NEW DELHI: India’s private consumption has almost doubled to $2.1 Trillion in 2024 from $1 Trillion in 2013, growing at 7.2 per cent CAGR, faster than the US, China and Germany, according to a report. On course to become the world’s third-largest consumer market by 2026, India is well-positioned...
SEBI Issues Regulatory Framework For SIFs
NEW DELHI: Markets watchdog Sebi on Thursday came out with a regulatory framework for Specialized Investment Funds (SIFs) requiring a minimum investment of `10 Lakh across all strategies. The new framework will be applicable from April 1, the Securities and Exchange Board of India (SEBI) said in its circular....
Summit Season Sees Nearly Rs 100 Lakh Crore Investment Pledges By India Inc
NEW DELHI: On Tuesday, Madhya Pradesh concluded a two-day global investors’ summit and proudly announced investment pledges worth Rs 26.61 lakh crore by global and domestic companies. That is precisely double the size of the state’s gross domestic product (GDP). Late January, Odisha, one of the mineral-rich states in...
India Needs 1.2-1.5 Tax Buoyancy To Achieve 6.5-7% Growth: EY Report
NEW DELHI: In the coming years, India’s fiscal strategy must focus on enhancing tax buoyancy, prudent expenditure management, and structural reforms to ensure sustainable growth, said EY in a report. According to DK Srivastava, chief policy advisor, EY India, for India to achieve a medium-term growth trajectory of 6.5-7.0%...
FY25 CPSE Dividends To Beat Target By Rs 10,000-Crore
NEW DELHI: The Centre’s dividend receipts from the companies it owns have exceeded the revised estimate of Rs 55,000 crore for FY25 by Rs 5,000 crore and may well reach Rs 65,000 crore by the end of the financial year, according to official sources. Dividend receipts from central public...
Banks Cautious On MFI Lending Despite Risk Weight Cuts
MUMBAI: Banks are expected to tread cautiously in lending to the microfinance sector despite the Reserve Bank of India reducing risk weights for such loans. They will wait for delinquencies to decline in the microfinance industry before increasing their exposure. Banks will also monitor the effects of a new...
Australia To Invest $16 Million To Boost Trade Ties With India
NEW DELHI: Australia on Wednesday unveiled an ambitious roadmap to expand and diversify its trade and investment ties with India with a focus among other issues on defence industries, sports, culture, space and technology. The roadmap identified four “superhighways of growth” – clean energy, education and skills, agribusiness, and...
Early IIP Release May Undermine Data Quality Further: Experts
NEW DELHI: In order to cut the time lag in publishing the index of industrial production (IIP) data, the ministry of statistics and programme implementation (MoSPI) has now advanced the release date of the monthly-IIP print. Experts say the quickness in data release was much-needed, but warn that this...
India Has Lower Exposure To US Tariffs Than Peers In APAC Region: Moody’s
NEW DELHI: Moody’s Ratings on Tuesday said India has a lower overall exposure to the US relative to others in the APAC region, although certain sectors such as food, textiles and pharmaceutical products face risks. Moody’s said most companies in its rated portfolio are domestic-focused with limited exposure to...
