Business
Core Sector Growth At 13-Month High Of 6.3% In August On Low Base Effect
NEW DELHI: A low base effect and a good steel and coal production propelled the output growth in India’s eight core infrastructure industries to 13-month high of 6.3 per cent in August against the negative growth seen during the same month of 2024, data released by the Ministry of...
NABARD, PFC Plans To Raise ₹10,000 Crore From Corporate Bond Market
MUMBAI: A slew of public sector undertakings (PSUs) are expected to tap the corporate bond market ahead of the Reserve Bank of India’s October policy review, capitalising on improved sentiment. State-run Power Finance Corporation (PFC) plans to raise up to ₹3,500 crore on Tuesday through bonds maturing in 2...
Indian IT Firms Invested $1billion In US Talent Training: Nasscom
BENGALURU: Even amid protectionist rhetoric from successive US administrations, the Indian IT industry has invested over $1 billion in local upskilling and hiring, driving a sharp rise in local recruitment. Over the years, Indian and India-centric firms in the US have steadily reduced their dependence on H-1B visas while...
US Companies May Find Selling In India Easier Under New Trade Deal
NEW DELHI: Selling of products and services by US companies in India is likely to get easier with the two countries renegotiating a trade deal, with focus on facilitating digital trade. The two countries have agreed not to demand information concerning source code or other proprietary knowledge, and access...
Centre’s Capex May Cross 50 Per Cent Of Annual Target In H1
NEW DELHI: The Centre’s budgetary capital expenditure in the first half of the current financial year is expected to reach 50% of the annual target of Rs 11.21 lakh crore, reflecting a further acceleration of such asset-creating spending upon the momentum gathered in the first quarter. “Budget capex reached...
CBIC, Other Agencies Vigilant On GST Benefit Transfer To The Public
NEW DELHI: The field formations of Central Board of Indirect Taxes and Customs (CBIC) across the country have put their monitoring wings on high alert, with a view to ensuring that businesses pass on the benefits of Goods and Service Tax (GST) cuts to the consumers right away. Besides...
Lens On Small-Ticket Personal Loan Defaults: RBI To Look At Use Of Device Locking Tech
MUMBAI/ NEW DELHI: RBI is considering a proposal to regulate the use of device locking technology in case of continued default for some small-ticket personal loans – but with explicit safeguards. Sources said a final decision on the issue has not been taken, but the needs of consumers and...
Import Duties May Be Imposed On Key Varieties Of Pulses
NEW DELHI: A surge in cheap imports and robust harvest prospects have dampened mandi prices of key varieties of pulses – tur, urad, masoor and chana. Their prices are currently ruling significantly below the year-ago prices, as well as the respective minimum support prices (MSPs). According to sources, with...
Government To Channel CSS Funds Via RBI From November
NEW DELHI: The Centre will route the funds for all centrally sponsored schemes (CSS), with an aggregated annual budget outlay of Rs 5 lakh crore, through the Reserve Bank of India platform from November instead of state treasuries, to curb the floating of funds and rein in borrowings. At...
Government Open To Talks On AGR Relief For Vodafone Idea
MUMBAI: Some relief on the adjusted gross revenue (AGR) front looked possible for Vodafone Idea on Friday, with the Supreme Court agreeing to hear its plea against a fresh demand of Rs 9,450 crore from the department of telecommunications (DoT) on September 26, and the government not opposing the...
R&I Japan Upgrades India’s Credit Rating To BBB+ With Stable Outlook
NEW DELHI: The Japanese credit rating agency, Rating and Investment Information (R&I), on Friday upgraded India’s sovereign credit rating by a notch to BBB+ from ‘BBB’ with a stable outlook backed by the country’s demographic dividend, robust domestic demand, and sound government policies. “Despite the uncertainties surrounding the global...
GST Rate Cuts To Benefit Key Consumer Items, But Impact Depends On Pass-Through: Crisil
MUMBAI: While the revised GST tax rates will benefit 11 of the top 30 consumption items—covering about a third of an average consumer’s monthly expenditure—the actual impact of these lower tax rates will depend on how much of the benefit is passed on to consumers, and whether this move...
Office Space Leased By Global Capability Centres Set To Grow 15-20% In Next Two Years: Report
MUMBAI: Global capability centres (GCCs) have leased around 100 million sqft of office space across the top seven cities since 2021, driving record-breaking transactions across these cities. As much as 36% of the overall office demand in 2025 so far has been from GCCs, who have leased out 28...
Banks, NBFCs Unveil Offers As Festival, GST 2.0 Approaches
MUMBAI: With the Goods and Services Tax (GST) 2.0 set to be rolled out from Monday amid the festival season, financial institutions are also beginning to roll out offers to drive consumption. For example, Kotak Mahindra Bank, L&T Finance and IDFC FIRST Bank have each unveiled campaigns spanning lifestyle,...
EU Launches New Strategic Agenda To Deepen Defence, Trade Ties With India
NEW DELHI: The European Union (EU) on Wednesday unveiled a new strategic agenda to significantly ramp up its engagement with India in a range of key areas such as defence, trade and energy, and to jointly tackle major global challenges. The EU said its closer partnership with India is...
Private Capex Revival In India Expected Only Next Year: S&P Global
MUMBAI: Owing to the current uncertain business climate due to tariffs, the revival in private capital expenditure (capex) in India is expected only in the next financial year, according to S&P Global Ratings. “We are projecting $800-850 billion of private capex in the next five years, but I do...
AI To Boost Trade By Nearly 40% By 2040 If Gaps Are Bridged: WTO Report
NEW DELHI: Artificial intelligence (AI) could boost the value of cross-border trade by nearly 40 per cent by 2040 on the back of productivity gains and lower trade costs, said the 2025 edition of the World Trade Report released by the World Trade Organization (WTO) on Wednesday. However, for...
Global Tie-Ups Soon To Push Geo-Thermal Energy: Govt
NEW DELHI: The government is exploring international technology collaborations for the development of geothermal energy projects in the country with several foreign players — including those from the US, Norway, and Iceland — already initiating pilot studies, according to Santosh Sarangi, secretary, ministry of new and renewable energy. The...
