Business
Govt Moves To Streamline Insurance Sector Compliance Ahead Of 100% FDI
NEW DELHI: The government is looking to streamline compliance and enhance ease of doing business in the insurance sector. A government official said efforts are underway to identify redundant regulations, especially as India prepares to allow 100% foreign direct investment (FDI) in the sector. “Some of these issues will...
Profit Booking Leading FIIs To Sell Indian Equities: FM
MUMBAI: Seeking to assuage concerns over Foreign Institutional Investors (FII) selling Indian equities lately, Finance Minister Nirmala Sitharaman on Monday attributed the action to profit booking. Speaking to reporters in the financial capital, Sitharaman said the Indian economy is one where the investors are bagging better returns which leads...
Airtel Completes Landing Of SEA-ME-WE-6 Submarine Cable
NEW DELHI: Bharti Airtel on Monday said it has completed the landing of the new Southeast Asia-Middle East-West Europe-6 or SMW6 (SEA-ME-WE 6) submarine cable system in Chennai. The company recently landed the SEA-ME-WE 6 cable in Mumbai on December 30, 2024. “The cable landing, both in Mumbai and...
Experts Intrigued By Inclusion Of Electoral Bonds In Income Tax Bill
NEW DELHI: Experts are intrigued by the new Income Tax Bill, 2025 retaining provisions related to electoral bonds, which were rendered unconstitutional by the Supreme Court last year, saying it could be because of legislative oversight or the government’s intention to bring it back in some other form. Electoral...
IPO-Bound NSDL Profit Jumps 30 Per Cent
NEW DELHI: National Securities Depository Limited (NSDL) on Monday reported a 30 per cent rise in its consolidated net profit to Rs 85.8 Crore for three months ended December 2024. The depository registered Rs 66.09 Crore profit in the year-ago period. The total income rose 16.2 per cent to...
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...
