Business
India Inks Critical Mineral, Climate Change And Defence Deals With UK
NEW DELHI: India and the United Kingdom (UK) on Thursday announced a dozen outcomes across sectors ranging from education and critical minerals to climate change and defence cooperation. These include a $468 million (350 million pound) contract under which the UK will supply lightweight multirole missiles to India, and...
India Healthcare Spend To Double As Share Of GDP By 2047: Study
NEW DELHI: India’s healthcare expenditure is expected to rise seventeen-fold by 2047 to touch Rs 190 lakh crore, up from about Rs 10-11 lakh crore now, as aging population, increasing non-communicable disease (NCD) load, early onset and late diagnosis will drive the demand for healthcare services, said the latest...
Government Notifies Major Amendments To PLI Scheme For Textiles
NEW DELHI: The textile ministry on Thursday announced significant amendments to the Production Linked Incentive Scheme for textile products with an aim to address challenges faced by the industry and encourage fresh investments. The amendments to the scheme for man-made fibre (MMF) apparel, fabrics and technical textile products include...
Foreign Fund Outflows Not Worrying, Investors Bullish On India: SEBI Chief
Foreign equity flows fluctuate with global conditions. But, longterm trend in assets under custody of FPIs remains upward, which has grown from $827 billion to around $907 billion with a 10-year CAGR of over 12%. Beyond scale and participation, what ultimately matters to investors is that India has a...
India’s Govt Debt Projected To Decline To 71% Of GDP By FY35 From Current 81%: CareEdge Ratings
India’s general government debt is expected to moderate steadily over the next decade, declining from the current 81 per cent of GDP to about 77 per cent by FY31 and further to 71 per cent by FY35, according to a report released by CareEdge Ratings. The report highlighted that...
Consolidation Of Public Sector Banks May Resume By Fiscal-End
NEW DELHI: After a gap of six years, the process of consolidation of public sector banks (PSBs) may restart by the end of the current financial year. What is being considered is the merger of 3-4 smaller PSBs with larger ones in the first phase. In the subsequent phase,...
Deposits Rise Faster Than Loans At Small Finance Banks In Q2
MUMBAI: Small finance banks (SFBs) saw higher growth in their deposits as compared to gross advances on a year-on-year basis in the quarter ended September, provisional data released by six banks showed. The gross advances rose 16.8% y-o-y while the growth in total deposits was higher at 17.2%, the...
India Pleased With UK FTA; Keen To Have Trade Pact With US: Jaishankar
NEW DELHI: External Affairs Minister S Jaishankar on Sunday spoke of learning lessons from India’s initial free trade agreements (FTAs) with Asean nations, terming them as economies that compete with India and provide a pathway for Chinese goods to enter the Indian market. He said India should focus on...
New Pharma R&D Scheme Helpful Only For Incremental Products: Experts
NEW DELHI: The recent overhaul of the Promotion of Research and Innovation in Pharma-MedTech Sector (PRIP) scheme by the government might be insufficient to create an ecosystem for development of novel drugs in India, industry experts feel. Development of a new drug molecule (new chemical entity) costs anywhere between...
IT Services Firms Brace For Muted Q2 Amid Weak Demand
MUMBAI: IT services firms are preparing for another subdued quarter as global macro uncertainty, tight discretionary budgets, and cautious client spending weigh on what is usually a seasonally stronger period. The recent changes to US H1-B visa rules have further added to the sector’s unease, limiting near-term optimism. Analysts...
RBI Proposes Market-Linked Framework For External Commercial Borrowings
MUMBAI: The Reserve Bank of India (RBI) has proposed major changes to the framework for external commercial borrowings (ECBs), linking borrowing limits to the financial strength of companies and allowing funds to be raised at market-determined interest rates. The draft norms, issued on Friday, seek to simplify end-use restrictions...
India Anchor Of Stability In Volatile World: RBI Guv Sanjay Malhotra
NEW DELHI: India’s macro-economic fundamentals have continued to remain very strong, and the country has become an anchor of stability in a volatile world, Reserve Bank Governor Sanjay Malhotra said on Friday. Speaking at Kautilya Economic Conclave 2025 here, the governor attributed the country’s strong fundamentals to low inflation,...
NITI Aayog Proposes Optional Presumptive Tax Regime For Foreign Investors
NEW DELHI: Government think tank Niti Aayog has proposed an optional industry-specific presumptive taxation scheme for foreign companies. The proposal is aimed at enhancing tax certainty and predictability for foreign investors, which Niti Aayog identifies as a critical impediment to maximizing Foreign Direct Investment (FDI) inflows. It has warned...
India’s Economy Is Stronger Than Trump Thinks, But Needs Structural Reform
India has long benefitted from geopolitical arbitrage, maintaining working relationships with Russia, the United States, and Europe. But this delicate balancing act is now being tested by a series of policy shocks delivered by US President Donald Trump’s administration. These disruptions, unlikely to ease anytime soon, raise a critical...
Govt Extends Deadline For PLI Scheme For Textiles Applications Till December 31
NEW DELHI: The government has extended the deadline for submitting applications for the PLI Scheme for Textiles. In a press notification, the Ministry of Textiles stated that the application for the PLI scheme will be open until December 31, 2025. The Ministry of Textiles stated that the application deadline...
M&A Funding, Easing Credit Caps To Large Companies Can Get Banks Rs 5.7 Trillion In Additional Credit Demand
MUMBAI: The massive reform strokes that the Reserve Bank has announced Wednesday to oil the credit flow to the economy by easing a host of restrictive regulations of the past can lead to incremental credit demand in the north of around Rs 5.7 trillion a year—just from easing the...
RBI Proposes Basic Savings Bank Deposit Account As A Standard Service
MUMBAI: Banks must offer customers a “basic savings bank deposit” (BSBD) account, including free facilities and without having to maintain a minimum balance, the Reserve Bank of India (RBI), in a draft circular, has said. “The ongoing (digitisation) of the banking sector requires a BSBD account that is in...
Government Plans Major Reforms Of National Pension System
NEW DELHI: Even as the Unified Pension Scheme, which offers assured pension, has failed to gain much traction among government employees, the government is considering bolstering the market-linked National Pension System with additional flexibility and options for the subscribers. The new options to be available to the NPS subscribers...
