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MUMBAI: In recent months, several pharma multinational corporations (MNCs) are increasingly turning to Indian companies to expand market reach in the country’s pharmaceuticals sector. Sanofi’s partnerships with Dr Reddy’s, Cipla, and Emcure, AstraZeneca and Mankind Pharma — teaming up for asthma medication distribution — are a few instances of...
NEW DELHI/MUMBAI: E-retailers like Amazon and Flipkart may soon have a new competitor in the government e-Marketplace (GeM). The public procurement portal has doubled the business it facilitated in a year by processing orders worth over Rs 4 trillion in 2023-24, and is now preparing to make itself available...
NEW DELHI/MUMBAI: The plan to bring overseas credit-card spend above a threshold under the Liberalised Remittance Scheme (LRS) and a 20% tax-collected-at-source (TCS) is unlikely to be implemented from April 1, as the government is inclined to defer it again till the elections are over, sources from the government...
MUMBAI: Alternative Investment Funds (AIFs) are seeking clarification from the central bank on the exclusion of equity shares from the definition of downstream investments. The industry wants to know whether the exclusion applies only to investments in equity shares or also includes private equity and venture capital investments in...
MUMBAI: Record foreign portfolio inflows in 2023-24 helped the rupee and bond to remain stable amid global uncertainties. Domestic markets received foreign inflows of Rs 3.23 trillion in the financial year FY24, as against an outflow of Rs 45,365 crore in FY23. The domestic economic conditions remained favorable with...
NEW DELHI: Prime Minister Narendra Modi on Friday cautioned that a powerful technology like AI in unskilled, untrained hands holds significant risk of misuse, as he advocated the need for clear ‘dos and don’ts’ and use of watermarks on AI-generated content to curb misinformation and deepfake-related harms in the...
MUMBAI: The gross non-performing assets (GNPA) of the Indian banking system are set to improve further to up to 2.1 per cent by the end of FY25, a report said on Friday. GNPAs are likely to come at 2.5-2.7 per cent in FY24 and will improve further to 2.1-2.4...
MUMBAI: European accelerator Starburst has formed a strategic collaboration with the Indian Institute of Management-Mumbai for promoting aerospace, new space, and defence (ASD) startups in India. Aimed at cultivating an ASD ecosystem centred around the prestigious B-School in India’s financial capital, the alliance would provide vital support and resources...
MUMBAI: Country’s largest IT services company TCS on Friday said it has trained 3.5 lakh employees in generative AI skills. The company, which had in January announced that 1.5 lakh staffers are trained in the skill sets of what is said to be the biggest opportunity for IT services...
NEW DELHI: Foreign investors made a strong return by injecting more than Rs 2 lakh crore into Indian equities in 2023-24, driven by optimism surrounding the country’s robust economic fundamentals amidst a challenging global environment. Looking forward to 2025, Bharat Dhawan, Managing Partner at Mazars in India, said that...