Business
India’s GDP Growth Picks Up To 6.2% In Q3; FY25 Projection Now 6.5%
NEW DELHI: India’s economic growth accelerated to 6.2 per cent in the December quarter of FY25, up from a revised 5.6 per cent in the previous quarter, reversing two consecutive quarters of slowdown. However, significant revisions to past data have left economists perplexed. Data released by the Ministry of...
India Needs 7.8% Growth For 22 Years To Be High-Income By 2047: World Bank
NEW DELHI: In order to reach high-income status by 2047, India needs to grow at an average of 7.8 per cent over the next 22 years as under a “business as usual’ scenario, it will experience tangible welfare gains but still fall short of its ambitions, the World Bank...
India and EU Target Historic Free Trade Agreement By Year-End
NEW DELHI: India and the European Union (EU) have committed to finalizing a long-awaited free trade agreement (FTA) by the end of 2025, marking a significant step forward after years of stalled negotiations. This announcement was made during a meeting between Indian Prime Minister Narendra Modi and European Commission...
India, EU To Address CBAM Concerns For MSMEs
NEW DELHI: India and the European Union (EU) on Friday agreed to address the challenges arising out of implementation of the Carbon Border Adjustment Mechanism (CBAM) particularly for the small and medium enterprises. The issue of CBAM came up in the second meeting of the India-EU Trade and Technology...
Market Wants New SEBI Chief To Keep It Simple
MUMBAI: After an action-packed three years of regulations, market participants are hoping for a steady hand when new Securities and Exchange Board of India (Sebi) chairman Tuhin Kanta Pandey takes charge. The longest-serving secretary of the department of investment and public asset management (DIPAM), who was also responsible for...
KCC As A Financial Identity: The Key To Transparent A MSP
NEW DELHI: For years, Indian farmers have struggled with inadequate credit access, inefficient procurement systems, and bureaucratic delays in government support. The Kisan Credit Card (KCC), introduced in 1998 under Union Agriculture Minister Sompal Shastri, was a pioneering initiative, however, in today’s fast-evolving financial ecosystem, the KCC must evolve...
Centre’s Fiscal Deficit Touches 74.5 Per Cent
NEW DELHI: The Centre’s fiscal deficit touched 74.5 per cent of the annual target at the end of January 2025, according to the data released by Controller General of Accounts (CGA) on Friday. In actual terms, the fiscal deficit – the gap between expenditure and revenue – was Rs...
Expenditure At Maha Kumbh To Push GDP Growth In Q4: CEA
NEW DELHI: A significant pick up in the government capex and additional expenditure linked to Maha Kumbh congregation are expected to push the fourth quarter GDP growth to 7.6 per cent, required to achieve an overall economic expansion of 6.5 per cent in the current fiscal, Chief Economic Adviser...
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...
