NEW DELHI: The number of ghost shopping malls — those with vacancy of more than 40 per cent — increased to 64 last year from 57 in 2022 across eight major cities as retailers and consumers are preferring premium properties, according to Knight Frank. Real estate consultant Knight Frank...
NEW DELHI: The Indian FMCG industry experienced a 6.5 per cent growth in volume terms at a national level in the January-March period of 2024, with rural consumption surpassing urban for the first time in five quarters, according to consumer intelligence firm NielsenIQ. Both food and non-food sectors contributed...
NEW DELHI: The country’s toy exports declined marginally to USD 152.34 million in 2023-24 from USD 153.89 million in the previous financial year, according to a report by economic think tank GTRI. The Global Trade Research Initiative (GTRI) said that India’s toy exports did not benefit much from the...
MUMBAI: The rupee consolidated in a narrow range and settled higher by 1 paisa at 83.51 against the US dollar on Tuesday, amid a negative trend in domestic equities and strong dollar demand. Forex traders said elevated significant foreign fund outflows in the international market dented investors’ sentiments. At...
NEW DELHI: India’s Central Public Sector Enterprises (CPSEs) continued to drive economic activities as their procurement from MSMEs was 36.34% against the mandated 25% for the Financial Year 2024. In absolute terms the procurement through Government e-marketplace (GeM) by 54 CPSEs and five departmental arms of government including Railways...
NEW DELHI: The telecom sector regulator is open to granting more time to telecom operators for upgrading their IT systems to comply with the new and tighter reporting rules on base tower stations, officials aware of the matter told ET. Telecom operators are holding consultations with officials from the...
NEW DELHI: Growth in India’s dominant services sector slowed marginally in April, but remained robust due to strong demand, a private business survey released on Monday said. The headline Purchasing Managers’ Index (PMI) figure, released by HSBC, slid to 60.8 in April from 61.2 recorded in March. The survey...
MUMBAI: Shares of the state-owned banks and project financers plunged on Monday, days after the Reserve Bank of India (RBI) proposed to tighten the project financing norms, which require lenders to set aside higher capital for doling out loans to under-construction projects. Shares of Power Finance Corporation (PFC) and...
NEW DELHI: India’s households’ net financial savings plunged to a five-year low of Rs 14.2 trillion in FY23, sharply down from Rs 17.1 trillion in FY22, primarily owing to a sharp rise in short-term credit, data released by the statistics ministry showed on Monday. The fall could be attributed...
NEW DELHI: State-owned BSNL will start rolling out 4G services across the country from August, using completely indigenous technology in line with the government’s “Atmanirbhar” policy, according to official sources. BSNL officials claimed to have recorded peak speed of 40-45 megabit per second on the 4G network which has...
MUMBAI: As much as half of the country’s international air passenger traffic is expected to be catered by Indian airlines by financial year 2027-28, credit ratings agency CRISIL said on Monday. The share of Indian airlines in international passenger traffic, including originating or terminating as well as the traffic...
NEW DELHI: Investments through participatory notes in the Indian capital markets reached Rs 1.5 lakh crore at the end of February, making it the highest-level in nearly six years, driven by a strong performance of the domestic economy. The latest data includes the value of P-note investments in Indian...
NEW DELHI: Automobile dealer’s body FADA on Monday said it has joined hands with Frost & Sullivan for a study to analyse various aspects of customer journey, encompassing sales, after-sales and product quality across the domestic passenger vehicle industry. The Customer Experience Index (CEI) study will target various segments...
SANTA CLARA: India has made its mark as the startup capital of the world and “Brand India” has emerged as a more mature and fearless brand than it used to be two decades ago, a top marketing leader has said. India has made its mark in the startup nation...
MUMBAI: The Reserve Bank of India (RBI) ban on default loss guarantees for peer-to-peer (P2P) lenders is likely to dent the business volumes of some platforms as they will need to redraw their partnership agreements or switch to open market sourcing of investors. “Platforms that relied on the 10%...
NEW DELHI: India Inc.’s corporate social responsibility (CSR) spends rose by 5% from ₹14,816 crore in FY22 to ₹15,524 crore in FY23 across 1,296 NSE-listed companies, led by HDFC Bank (₹820.89 crore), Tata Consultancy Services (₹783 crore) and Reliance Industries (₹744 crore). Ten companies, including these three, accounted for...
NEW DELHI: India and Ghana are working to link their payment systems – Unified Payments Interface (UPI) and Ghana Interbank Payment and Settlement Systems (GHIPSS) respectively to permit users to make instant, low-cost fund transfers on a reciprocal basis. The two countries have also delved into discussions regarding the...
NEW DELHI: Despite a record disbursal of the agricultural loans by banks to over Rs 24 trillion in FY24 against a target of Rs 20 trillion, regional disparity persists, according to latest data by Nabard. The commercial banks, cooperative banks and Regional Rural Banks have disbursed Rs 24.84 trillion...