Business
Udaan Secures $75 Million In Funding Round
NEW DELHI: Online business-to-business platform Udaan has closed a Series G equity funding round of $75 Million, led by M and G Plc, according to people in the know. Company Co-Founder and CEO Vaibhav Gupta announced the round’s closure to employees on Monday, and mentioned that the company is...
No More PLIs In India’s Manufacturing Push
NEW DELHI: New production-linked incentive (PLI) schemes are set to be given a quiet burial, with many of the existing ones yet to produce satisfactory results. “The spirit of PLI has been lost. PLI is no longer the favoured child,” an official said on condition of anonymity. Instead, the...
Government Saves Rs 75,000 Crore In Interest Cost In 5 Years Through FY24
NEW DELHI: The Centre has managed to save around Rs 75,000 crore in interest cost due to its focus on transparency and prudent fiscal management between FY20 and FY24 which moderated yields of the government securities (G-secs). The weighted average yield of fresh borrowing of the Centre declined from...
Railways’ Freight Receipts Lag GDP, Revival Hopes Rest On DFC, High-End Trains
NEW DELHI: Indian Railways’ freight receipts lagged the rate of expansion of the nominal gross domestic product (GDP) in recent years, reflecting the lack of recovery in the operational parameters of the transporter. Freight receipts grew 4% in FY24 and 7% in FY25, and are projected to grow at...
Impact Of US Tariff Reciprocity On Indian Exports Likely To Be Limited: SBI
MUMBAI: The impact of U.S. tariff reciprocity on Indian exports is expected to be minimal, despite concerns over trade restrictions, according to a report by State Bank of India. The report highlighted that even if the U.S. imposes higher tariffs in the range of 15 to 20 per cent,...
Japanese Firms Eye India In ‘China Plus One’ Strategy
NEW DELHI: Post the Covid-19 pandemic, Japanese companies are eyeing India as a base as they adopt the ‘China Plus One’ strategy to diversify their manufacturing and supply chains to reduce dependence on China, experts from Deloitte said. The strategy involves establishing production facilities in alternative countries, with India...
Reliance, BP Lose Decade-Old Gas Migration Dispute
NEW DELHI: In a setback for Mukesh Ambani-led Reliance Industries Limited and its partner BP Plc, the Delhi High Court has overturned an international arbitration tribunal’s ruling that held the duo not responsible for paying any compensation for the gas they produced and sold, which had allegedly migrated from...
India Registers Over 29,500 Drones
NEW DELHI: More than 29,500 drones are registered in India, with the national capital having the maximum number at 4,882, according to official data. After the national capital, the highest numbers of registered drones are in Tamil Nadu and Maharashtra at 4,588 and 4,132, respectively. The data from the...
Global Trends, FIIs Trading Activity To Drive Market Trends
NEW DELHI: Stock markets are expected to be driven by global trends and Foreign Portfolio Investment (FPI) trading activity this week after the conclusion of the earnings season, analysts said. Unabated foreign fund outflows, lower-than-expected quarterly earnings and global trade war fears hit market sentiments last week, where the...
Power Producers Urge Centre To Extend Renewable Transmission Charge Waiver
NEW DELHI: Power producers have asked the government to keep the waiver on inter-state transmission charges for renewable energy until 2030 to help clean energy take root more deeply in India’s economy. A consultative meeting chaired by Minister for New and Renewable Energy Pralhad Joshi was held on February...
India-US TRUST To Enhance Economic Cooperation, Infrastructure Collaboration
NEW DELHI: India-United States (US) Transforming Relationship Utilising Strategic Technology (TRUST) will pave the way for economic and technological cooperation between the two countries, while focus on the IMEC framework will deepen collaboration in infrastructure and economic corridors, according to industry experts. Prime Minister Narendra Modi and US President...
Fresh Harvest Pulls Down WPI Inflation To 2.31%, Shows Govt Data
NEW DELHI: India’s wholesale price index (WPI)-based inflation declined to 2.31 per cent in January from 2.37 per cent in December as the food prices came down due to the arrival of fresh harvests while fuel rates too remained under check, according to the government data released on Friday....
Trade Deal With US Soon
WASHINGTON: US President Donald Trump and Prime Minister Narendra Modi agreed on Thursday to start talks to clinch an early trade deal and resolve their standoff over tariffs as New Delhi promised to buy more US oil, gas and military equipment. The series of agreements emerged, just hours after...
New 10-Year Agreement Seeks To Deepen India-US Defence Strategic Ties
NEW DELHI: India and the United States have agreed to deepen strategic ties with a new 10-year agreement on defence cooperation, which will be signed later this year. Prime Minister Narendra Modi met US President Donald Trump in Washington, DC, on Feb 13, when they spoke for four hours,...
Renewed Push For India-Middle East-Europe Economic Corridor
The plan of India and the US to work together to advance the India-Middle East-Europe Economic Corridor (IMEEC) could give a shot in the arm for Indian foreign trade, which is growing at a rate much below potential and often turns to be a drag on its gross domestic...
Meta Plans Undersea Cable Project To Connect India, US
Meta on Friday announced a multi-billion-dollar, multi-year investment in an undersea cable project that will begin work this year and support greater Indian Ocean connectivity, as per a US-India joint leader’s statement from the White House. The project will ultimately stretch over 50,000 km to connect five continents and...
India, US Aim To Double Bilateral Trade To $500 Billion By 2030
WASHINGTON: India and the United States (US) have resolved to more than double the two-way trade to $500 Billion by 2030 and announced plans for a bilateral trade agreement with a view to bringing down duties and increase market access. According to the joint statement issued after the meeting...
India-US TRUST Initiative To Boost NCMM
NEW DELHI: The India-United States (US) Transforming Relationship Utilising Strategic Technology (TRUST) initiative will help in giving a push to the government’s National Critical Mineral Mission, which encourages public and private sector companies to acquire critical mineral assets abroad. The National Critical Mineral Mission (NCMM), approved by the government...
