India is poised to overtake China as the largest member of the World Trade Centers Association (WTCA) in the next five years, its chairman said, underscoring a hitherto circumspect New Delhi’s rapid global strides that neatly dovetail into a China-plus-one corporate sourcing strategy aimed at derisking supply chains across...
NEW DELHI: Finance minister Nirmala Sitharaman on Wednesday met financial sector regulators where a key item on the agenda was uniform KYC norms, an issue which has remained under discussion for long but has not been implemented. The idea is to implement a seamless KYC system, like the mutual...
NEW DELHI: India must focus on exports to achieve 10 per cent economic growth, Arvind Panagariya, Chairman of the 16th Finance Commission, has said. Panagariya also said that the temptation of import-substituting industrial policy is not unique to India. “I have looked at successful countries such as…Singapore, Taiwan, South...
NEW DELHI: India and Greece on Wednesday here reviewed the entire gamut of their bilateral ties and agreed to firm up a migration and mobility agreement soon, besides ramping up their overall cooperation in the areas of trade, defence production and to combat terrorism. These were the main takeaways...
MUMBAI: The Indonesian Tourism Ministry hopes to double Indian tourist arrivals to 1.2 million in 2024 with additional flights and a proposed visa-free entry scheme. Last year, Indonesia received 11.7 million tourists from around the world, which was 98 per cent higher compared to 2022. This included 6,10,000 Indian...
Over one-third of India’s export of oil products to the G7-led coalition countries was derived from Russian crude, a European think-tank said, highlighting how the partners shunned buying Russian crude and imposed price caps but a loose policy on refined product allowed third countries to use Russian oil and...
NEW DELHI: NMDC is expecting “stabilisation” and “break-even” of its recently-commissioned steel plant, NMDC Steel Ltd (NSL) — now a separate listed entity — by mid-FY25. Break-even is expected as production at the Nagarnar plant (Chhattisgarh) remains consistent at around 1.6-1.8 lakh tonne per month (of crude steel) or...
MUMBAI: A strategic realignment of government spending is expected to lead to a decline of the general government debt-GDP ratio to 73.4 per cent by 2030-31 from an estimated 81.6 per cent in 2023-24, according to a report by the Reserve Bank of India which is in contrast to...
NEW DELHI: The government will invite private firms to invest about $26 billion in its nuclear energy sector to increase the amount of electricity from sources that don’t produce carbon dioxide emissions, two government sources told Reuters. This is the first time New Delhi is pursuing private investment in...
NEW DELHI: India will oppose extension of moratorium on customs duties on cross-border e-commerce beyond 2024 and an attempt by a China-led group to bring in investment facilitation agreement within the World Trade Organisation (WTO) framework during the 13th ministerial conference of the global trade regulating body in Abu...
NEW DELHI: The government will come out with a draft regulatory framework for artificial intelligence (AI) by June-July, after holding extensive discussions with the industry, minister of state of electronics and IT, Rajeev Chandrasekhar said on Tuesday. Speaking at the Nasscom Technology and Leadership Forum (NTLF), while the minister...
SINGAPORE: Indian-origin companies are bullish on business prospects from the five-day Singapore Airshow, which began on Tuesday with global aviation industry stakeholders, including many from India like Brahmos Aerospace. Returning to a full-scale edition, the Singapore Airshow is making a strong comeback from February 20-25 with over 1,000 participating...
NEW DELHI: The government is considering setting up a maritime development fund with a view to providing low cost, long-term financial support to the shipping sector, a senior government official said on Tuesday. Ministry of Ports, Shipping and Waterways Secretary T K Ramachandran at an event organised by industry...
NEW DELHI: External Affairs Minister S Jaishankar has defended procuring oil from Russia and said following the Ukraine conflict India’s energy suppliers in the Middle-East gave priority to provide petroleum products to Europe that paid higher prices. New Delhi did not have any option but to procure Russian crude...
NEW DELHI: A global team of researchers from Australia, the USA, UK, France, Korea, and the George Institute India has collaborated to develop SONG-LP, a tool to assess life participation of individuals who have undergone kidney transplants. Kidney failure often severely limits patients’ ability to engage in daily activities,...
MUMBAI: The Indian economy continues to sustain the momentum achieved in the first half of 2023-24 and expectations of a fresh round of capex by the corporate sector is likely to fuel the next leg of growth, the Reserve Bank Bulletin said on Tuesday. “The likelihood of the global...
NEW DELHI: Over 27,500 applications for resolution process against corporate debtors have been withdrawn before their admission, with regulator IBBI emphasising that the credible threat of the insolvency law that ownership of debtors might change has changed the behaviour of debtors. These Corporate Debtors (CDs) had an underlying default...
MUMBAI: Sajjan Jindal-led JSW Steel is in talks to acquire a 20% stake in a coal mine owned by Australia’s Whitehaven Coal, in a deal valued at $750 million-$1 billion. A number of other firms, including Japan’s Nippon Steel, are also in the race to acquire Blackwater mine, located...