NEW DELHI: State-owned National Highways Authority of India (NHAI) has identified 33 highway stretches cumulatively spanning 2,741 kilometres to monetise during the current financial year through toll operate transfer (TOT) and infrastructure investment trust (InvIT) modes. The identified stretches include Lucknow-Aligarh, Kanpur-Ayodhya-Gorakhpur, and Bareilly-Sitapur in Uttar Pradesh, Gurugram-Kotputli-Jaipur bypass...
MUMBAI: The electronics industry in the country has experienced sharp growth in hiring and skilling initiatives with a 154 per cent growth in overall hiring in March, compared to the same month last year, a report said on Thursday. The report also showed that the telecom sector topped in...
NEW DELHI: PineGap.Ai, an AI-powered equity research platform, on Thursday said it has raised USD 2.5 million (about Rs 20.88 crore) in a funding round led by US-based investors SVQuad and Inventus Capital. The seed funding round also saw participation from DeVC and Silicon Valley serial entrepreneurs like Mohit...
NEW DELHI: IT company Infosys on Thursday said its consolidated profit jumped 30 per cent to Rs 7,969 crore in the fourth quarter ended March 2024. The company posted a profit of Rs 6,128 crore in the same period a year ago, according to a regulatory filing. The consolidated...
MUMBAI: The rupee rebounded from its all-time low levels and appreciated 6 paise to close at 83.55 (provisional) against the US dollar on Thursday, as the American currency and brent crude oil prices retreated from their elevated levels. At the interbank foreign exchange market, the local unit opened at...
UNITED NATIONS: India’s economy is projected to grow by 6.5 per cent in 2024, according to a report by the UN which noted that multinationals extending their manufacturing processes into the country to diversify their supply chains will have a positive impact on Indian exports. UN Trade and Development...
NEW DELHI: The Indian economy will attain the size of $34.7 trillion by 2047, with per capita income of $21,000, a report by PHD Chamber of Commerce and Industry (PHDCCI) on ‘Viksit Bharat @2047’ said on Wednesday. The report projected that the share of agriculture in total gross domestic...
NEW DELHI: India is proposing to expand the ambit of a key capital goods promotion scheme to include more sectors such as pharmaceuticals and textiles. The current capital goods promotion scheme focuses heavily on electrical component and automobile manufacturing, and the government is now keen to extend support to...
MUMBAI: Lenders raised deposit rates by an average 96 basis points through FY24 despite the Reserve Bank of India (RBI) holding policy rates steady since February 2023, a State Bank of India research report said this week, pointing to industry-wide efforts at deposit mobilisation to meet sustained credit demand...
NEW DELHI: The Centre is likely to top up the 50-year interest-free capex loans to states by 15% to Rs 1.5 trillion in 2024-25 from Rs 1.3 trillion provided in the interim Budget. This is because of the increased demand from states for the liberal loan facility aimed at...
WASHINGTON: India is not reaping the benefits of democratic dividends, former RBI governor Raghuram Rajan said Tuesday, emphasizing that there is need to focus on improving the human capital and enhancing their skill sets. “I think we are in the midst of it (democratic dividend), but the problem is...
NEW DELHI: India’s power consumption grew nearly 10 per cent year-on-year to 70.66 billion units (BU) in the first half of April this year, showing improvement in economic activities and consumption patterns, according to the power ministry data. According to the data, power consumption in the country rose to...
MUMBAI: Women’s participation in technology roles in non-tech businesses is expected to grow by nearly a quarter by 2027 across all levels, including freshers, junior, mid-senior, leadership, and C-Suite levels, a report said on Wednesday. The tech women’s participation rate in non-tech industries stood at 19.4 lakh workforce in...
CHENNAI: Toy manufacturer Funskool India, part of tyre major MRF Group, has taken up expansion at its manufacturing facilities in Tamil Nadu to make India a global hub for toy manufacturing. The expansion work at its premises in Ranipet, would effectively double the manufacturing capacities. The upgraded facilities in...
NEW DELHI: Daimler India Commercial Vehicles on Wednesday said it plans to foray into the domestic battery electric segment with the launch of the all-electric next-generation light duty truck eCanter in the next 6-12 months. The all-new next-generation eCanter had its world premiere in Japan and Europe in the...
NEW DELHI: The International Monetary Fund (IMF) raised India’s growth forecast to 6.8% for FY25, from 6.5% projected in January, on the back of the domestic economy’s strength. India remains the world’s fastest growing economy. The multilateral institution also revised upward the 2024 growth forecast for the world economy...
BENGALURU/MUMBAI: After releasing guidelines for online payment aggregators like Razorpay and Cashfree, the Reserve Bank of India on Tuesday issued draft rules to regulate point-of-sale payment service providers (PA-P). Companies like Innoviti Payments, Pine Labs and MSwipe will be brought under regulatory cover now. The regulator said companies providing...
NEW DELHI: India’s unemployment rate is anticipated to decline by up to 97 basis points by 2028, according to a new report released by the Observer Research Foundation (ORF) on Tuesday. The report, titled India Employment Outlook 2030, highlights projections indicating a decline in the unemployment rate from 4.47...