Business
India To Become $30-Trillion Economy By 2047: NITI Draft Vision Document
NEW DELHI: India is estimated to be a $30 trillion developed economy by 2047, preliminary results from the Centre’s vision document which is being prepared have shown, Niti Aayog CEO BVR Subrahmanyam said on Sunday. The Vision India@2047 document is likely to be released by PM Modi in the...
Govt Asks All Private Companies To Demat Shares By September 2024
MUMBAI: The government has mandated all private companies, other than small companies, to dematerialise their shares by September 30, 2024. The move is expected to boost transparency and oversight of the financial system. The Ministry of Corporate Affairs (MCA), in an amendment dated October 27, inserted a new clause...
India Seeks To Tax Goods Part Of Cross-Border Digital Trade
NEW DELHI: India has proposed that the World Trade Organisation (WTO) clearly define what constitutes goods and services in relation to cross-border electronic transmissions such as content streaming. The suggestion, made by senior Indian officials at a meeting of WTO member countries in Geneva last week, is aimed reaching...
K-Factor In Full Play In Housing Segment
MUMBAI: The K-factor, visible in many sectors of the economy, is at play in the housing space as well. Housing sales were at six-year high in the September quarter, however, the sale of affordable housing units declined 10%, as buyers in the segment continued to be troubled by the...
India Pitches For Clear Definition Of E-Commerce Trade In Goods, Services In WTO
NEW DELHI: India has asked the WTO members to work on a clear definition of e-commerce trade in goods and services as it would help provide developing countries a policy space to make decisions on the fast-growing sector, an official said. At present, there is a difference of understanding...
India, UK Trade Ministers Review Progress Of Talks On Proposed FTA
NEW DELHI: India and the United Kingdom on Saturday reviewed the progress of negotiations of the proposed free trade agreement (FTA), talks for which have reached the final stage. The progress was reviewed by Commerce and Industry Minister Piyush Goyal and UK Secretary of State for Business and Trade...
Ministry Of Power And BEE Unfold New Renewable Roadmap For 2030
NEW DELHI: The ministry of power and the Bureau of Energy Efficiency (BEE) announced a revision to the Energy Conservation Act of 2001 on Wednesday, setting ambitious renewable energy consumption benchmarks for specified consumers until the financial year ending 2030. According to the notification, the BEE will shoulder the...
SAIL Chhattisgarh Arm Makes Special Rods For Mumbai Coastal Road Project
RAIPUR: Steel Authority of India Limited’s (SAIL) Chhattisgarh arm Bhilai Steel Plant (BSP) has developed a new product to be used in the high-speed Mumbai coastal road project. During a visit to customer premises in Mumbai last month, the contractor (involved in the project) desired that wire rod mill,...
AM/NS India Plans To Develop Greenfield Jetty Near Hazira
AHMEDABAD: ArcelorMittal Nippon Steel India (AM/NS India), a joint-venture between ArcelorMittal and Nippon Steel, plans to develop a Deep Draft Greenfield Jetty having a capacity of 65 million metric tonnes per annum (MMTPA) at Suvali in Shivrampur village near Hazira. The proposed jetty project is envisaged to meet AM/NS...
RIL Posts 29.7 Per Cent Jump In Q2 Net Profit To ₹19,878 Crore
MUMBAI: Reliance Industries Ltd (RIL), India’s biggest company by market capitalization, reported a 29.7% increase in consolidated net profit for the July-September quarter on account of higher sales and the robust overall performance of its businesses. Net profit rose to ₹19,878 crore from ₹15,332 crore in the year earlier....
India Inc Divided On Narayana Murthy’s Call For 70-Hour Work Week To Youth
KOLKATA\BENGALURU\CHENNAI\MUMBAI: How much time should one devote to work? Do long working hours mean more productivity? How important is the work-life balance in fostering creativity? India Inc seemed to be divided on such questions after Infosys founder Narayana Murthy suggested a 70-hour work week for “youngsters” to make the...
India Mobile Congress 2023: India Will Lead The World In 6G, Says PM Modi
NEW DELHI: Even as 5G, 6G, made-in-India phones and the role of tech revolution in bringing social justice dominated the seventh edition of the country’s flagship telecom summit ‘India Mobile Congress’, satellite communication managed to steal some of the thunder. At New Delhi’s Bharat Mandapam, which had last month...
JP Morgan Upgrades India To ‘Overweight’ From ‘Neutral’ Ahead Of Elections
MUMBAI: JPMorgan has upgraded the domestic markets to ‘overweight’ (OW) from ‘neutral’ on the “positive historical seasonality to general elections.” The investment bank joins US-based peer Morgan Stanley to flag preference for the Indian markets, which has been the leading performer in the emerging market (EM) pack since 2021....
Tata Group To Make iPhones In India
BENGALURU: It’s final. Taiwan-based Apple contract manufacturer Wistron Corp on Friday approved the sale of its plant in Karnataka to Tata group. This paves the way for the salt-to-software conglomerate to become the first domestic entity to manufacture iPhones. “The transaction price is tentatively estimated at $125 million,” Wistron...
G-7 Trade Chiefs Set To Tackle Supply Chains, Economic Coercion
Trade ministers from the world’s most advanced economies will seek strategies to make global supply chains more resilient and governments less vulnerable to economic coercion from the likes of China when they gather in Osaka this weekend. Group of Seven trade ministers convene on Saturday and Sunday against a...
Air India Appoints Klaus Goersch As Chief Operations Officer
Mumbai: Air India on Friday announced the appointment of Klaus Goersch as the Executive Vice President and Chief Operations Officer, as well as various other senior level appointments. In the newly-created position at the airline, Mr Goersch will oversee flight operations, engineering, ground operations, Integrated Operations Control and cabin...
Govt Hikes Allocation Of Wheat Under Open Market Sale Scheme
The government has decided to offload 0.3 million tonnes (MT) under the open market sale scheme (OMSS) by the Food Corporation of India (FCI) in its weekly e-auction from next month, against 0.2 MT currently being offered for the bulk purchaser to cool down the prices. Sources told FE...
Unilever Flags Pricing Pressure In India As Inflation Eases
Global consumer goods major Unilever says the India market, its second-largest in the world, may see a deflation in pricing within skincare and fabric cleansing, as commodity inflation moderates. The India unit of the London-headquartered company reported a flat price-led growth last week for the September quarter as it...
