Business
CNG Retailers Want Price Hike, Government Wants To See Cost
NEW DELHI: City gas companies like Indraprastha Gas Ltd and Adani Total Gas Ltd are mulling an increase in CNG prices after supplies of cheaper input gas was cut for the second time in a month, but the government officials say the retailers must give a cost breakup to...
Retail Tomato Prices Drop 22.4 Per Cent On Improved Supplies: Government
NEW DELHI: Retail tomato prices declined 22.4 per cent month-on-month on improved supplies across the country, the Consumer Affairs Ministry said on Sunday. The all-India average retail price of tomatoes stood at Rs 52.35 per kg on November 14, down from Rs 67.50 per kg on October 14, according...
Indian Economy In ‘Sweet Spot,’ Predicts 2024 Growth Of 7.2%, Says Moody’s
NEW DELHI: The Indian economy is in a sweet spot, with a mix of solid growth and moderating inflation, Moody’s Ratings said in its latest global macro outlook published on Friday. The rating agency has projected 7.2 per cent growth for India for 2024. It is followed by 6.6...
After Rs 1.2 Lakh Crore FII Outflow, CLSA Shifts Focus Back To India From China
MUMBAI: Brokerage firm CLSA has decided to reverse its earlier move from India to China, citing growing concerns over China’s economy and investor sentiment. This change comes after Rs 1.2 lakh crore in foreign institutional investor (FII) outflows from India in recent months, which has affected the Indian market....
Railways Floats Rs 20,000-Crore RFP For Camera In Coaches
MUMBAI: In a move aimed at making train travel safer, Indian Railways has floated a request for proposal (RFP) to install closed circuit television (CCTV) surveillance cameras in coaches. According to industry sources, the initial value of the project will be Rs 15,000 to Rs 20,000 crore for installation...
Imports For Top Electronics Companies Dip On Rising Local Tide
KOLKATA: The thrust on ‘Make in India’ and component localisation has led to a decline in imports by major electronic firms such as Samsung, Apple, Whirlpool, Dixon and Havells – possibly for the first time ever. The combined import value of eight electronics firms, that also include LG Electronics,...
India Inc Capex Slows Down Marginally To Rs 9.4 Trillion In FY24: Care Ratings
The aggregate private capex in the financial year 2024 (FY24) slowed down marginally to Rs 9.4 trillion as compared to Rs 9.5 trillion in FY23, a study conducted by Care Ratings on the annual statements of 1,074 listed non-financial companies showed. The top five sectors in which private capex...
All Indian Firms Plan To Boost Investments In GenAI: NTT Study
A recent study by NTT DATA reveals that Indian organisations are planning to increase investments in generative artificial intelligence (GenAI). This shift marks a transition from initial experimentation to a focus on long-term use cases aimed at enhancing business performance, compliance and safety. Globally, 99% of organisations surveyed indicated...
PSBs Bet On Corporate Loan Book Expansion, Infra Loans
MUMBAI: Large public sector banks, such as State Bank of India, Punjab National Bank, Canara Bank and others are looking at expanding their corporate loan books, especially in sectors such as infrastructure, energy and others. For example, State Bank of India’s corporate loan book grew by 18.35% year-on-year in...
NITI Aayog’s WEP Partners With Urban Company To Empower Women
NEW DELHI: NITI Aayog’s Women Entrepreneurship Platform (WEP) has partnered with Urban Company to empower women salon and beauty parlour owners, an official statement said on Friday. According to the statement, WEP, under its award-to-reward initiative, launched the pilot to support women MSMEs to scale up their businesses in...
Centre Urges States To Fill 663 Vacant Posts In Consumer Forums
NEW DELHI: The Union government on Friday directed states to accelerate the appointment process for 663 vacant positions across state and district consumer commissions, expressing concern over mounting vacancies that threaten to undermine consumer rights protection. Consumer Affairs Secretary Nidhi Khare, who reviewed the situation with state government officials,...
Mercedes-Benz India To Hike Prices By Up To Three Per Cent
NEW DELHI: German luxury carmaker Mercedes-Benz on Friday said it will hike prices of its vehicles in India by up to 3 per cent on its entire model range in the portfolio from January 1, 2025, citing a rise in input costs, inflationary pressures and higher operational expenses. Prices...
WPI Inflation Hits 4-Month High Of 2.36% In October On Food Price Spike
NEW DELHI: India’s Wholesale Price Index (WPI)-based inflation increased in October to a four-month high of 2.36 per cent from 1.84 per cent in September, primarily on the back of a spike in the prices of food items, particularly vegetables. The latest WPI data comes days after Consumer Price...
India’s Merchandise Exports Surge 17% In October, Fastest Pace In 28 Months
NEW DELHI: India’s merchandise exports grew at the fastest pace in 28 months in October, witnessing double-digit growth of 17.3 per cent year-on-year (Y-o-Y) to touch $39.2 billion, due to inventory build-up in the Western countries ahead of the Christmas season. However, the imports hit an all-time high of...
Deposit Growth Equals Credit In November 1 Fortnight, Shows RBI Data
MUMBAI: After edging past credit growth for the first time in 30 months in the fortnight ended October 18, deposit growth was almost on a par with credit growth in the November 1 fortnight, with credit growing by 11.9 per cent and deposit growing by 11.83 per cent year-on-year...
India To Grow 6.7% On Average To Touch $7-Trillion Mark By 2031
NEW DELHI: India’s gross domestic product (GDP) growth is expected to moderate to 6.8% this fiscal year (FY25) from the robust 8.2% in FY24 as high interest rates and stricter lending norms begin to temper urban demand, said rating agency Crisil. “A somewhat lower fiscal impulse to growth (as...
MGNREGS Outlay May Be Hiked By Rs 10,000 Crore
NEW DELHI: The Centre may increase the outlay for Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) by around 10% over the budget estimate of Rs 86,000 crore for the current financial year, factoring in work demands as well as wage increases, official sources said. So far in FY25,...
GAIL Inks Pact With Abu Dhabi Firm For LNG Supply
NEW DELHI: GAIL (India) Limited has signed a 10-year sales and purchase agreement (SPA) with Abu Dhabi’s ADNOC Gas for the delivery of up to 0.52 million metric tonnes per annum (MMTPA) of liquefied natural gas (LNG), starting in 2026, the company said on Thursday. This is the first...
