Business
Indian Apparel Exporters To Post 9-11 Per Cent Revenue Growth
NEW DELHI: Indian apparel exporters are expected to register a 9-11 per cent revenue expansion in FY25 aided primarily by gradual liquidation of retail inventory in key end markets and a shift in global sourcing to India, ratings agency ICRA on Monday. The long-term prospects for Indian apparel exports...
PM MITRA, PLI Schemes To Attract Investment
NEW DELHI: India’s textiles sector is expected to attract investments to the tune of Rs 95,000 crore from the seven PM MITRA mega textile parks and the PLI scheme for man-made fabrics and technical textile products in the next 3-5 years, Textiles Secretary Rachna Shah said on Monday. Apart...
Emaar India To Invest Rs 2,000 Crore In Mumbai Region
NEW DELHI: UAE-based realty developer Emaar is planning to invest up to Rs 2,000 crore in Mumbai and its surrounding areas in the next six-seven years, a top official said on Monday. The group, known for projects like Burj Khalifa, has stayed away from the Mumbai Metropolitan Region (MMR)...
Automobile Exports From India Rise 14 Per Cent
NEW DELHI: Automobile exports from India in the first six months of the current fiscal year rose 14 per cent year-on-year, led by gains in shipments of passenger vehicles and two-wheelers. According to Siam data, the overall exports in the April-September period stood at 25,28,248 units, up 14 per...
Government May Halve Spectrum Lease Tenure To 10 Years
NEW DELHI: The department of telecommunications (DoT) is considering reducing the tenure of spectrum leased to telecom operators through auctions to 10 years from the current 20 years. This is being evaluated as the life cycle of technology is getting shorter and the value of spectrum getting eroded over...
Big Deals Continue To Elude Big Four IT Service Firms
BENGALURU/MUMBAI: The top four Indian IT services firms —TCS, Infosys, Wipro, and HCLTech — saw year-on-year decline in their total contract value (TCV) during the July-September period, due to the absence of mega deals and continued lumpiness in large deals. Further, geographically, revenue contribution from North America continued to...
Moderate Pick-Up In Exports Predicted For H2
NEW DELHI: India’s merchandise exports in the first half of FY25 rose at a modest rate of 1%, owing to slowdown in global demand, decline in oil prices, higher logistics costs for exporters, and of course, declining competitiveness in certain segments. The outlook for the second half is however...
Rate Cut At This Stage Could Be ‘Risky, Premature’: RBI Governor
MUMBAI: Reserve Bank of India (RBI) Governor Shaktikanta Das cautioned on Friday that cutting the policy rate at this juncture could be “very premature” and “risky” in light of an uptick in the latest headline inflation reading, something that could persist until the next print, as well. “… (A)...
Rajnath Singh Urges Private Defence Firms To Make India Technology Hub
NEW DELHI: Defence Minister Rajnath Singh called upon private defence firms on Friday to move forward from “participation” in defence production to “taking the lead.” He assured private companies of the government’s full support in making India an innovation and technology hub, and one of the strongest countries in...
Homebuying Decision May Be Impacted If Mortgage Rates Cross Nine Per Cent: FICCI-Anarock Survey
MUMBAI: Nearly 90 per cent of respondents feel that their decision to buy residential properties will be significantly impacted if mortgage rates exceed 9 per cent, according to a survey conducted by FICCI and Anarock. Industry body FICCI and real estate consultant Anarock on Friday released their joint ‘Homebuyer...
Finance Minister Urges Mexican Firms To Partner With Startups And Academia
NEW DELHI: Finance Minister Nirmala Sitharaman on Thursday urged Mexican firms to explore collaborations with startups as well as academic institutions and take advantage of India’s business-friendly policies. In her address at Tech Leaders Roundtable at the Chamber of Commerce, Guadalajara, Sitharaman emphasised on opportunities and responsibilities for similar...
Infrastructure Projects Help In Boosting Tourism, Creating Jobs: Nitin Gadkari
PANAJI: Infrastructure projects like new expressways and facilities at tourist sites are helping boost tourism and create more jobs, Union Road Transport and Highways Minister Nitin Gadkari said on Friday. In a message to a conference organised by the Federation of Hotel and Restaurant Associations of India (FHRAI) in...
JSW Energy Arms Ink Pacts To Supply 1,200 MW Solar-Wind Power To Maharashtra Discom
NEW DELHI: JSW Energy on Friday said that its two arms have signed agreements to supply 1,200 MW of power to Maharashtra State Electricity Distribution Company. JSW Renew Energy Six Ltd and JSW Renew Energy Thirty Ltd, step-down subsidiaries of JSW Energy, have signed power purchase agreements (PPAs) with...
Infosys Shares Tumble 4.50 Per Cent Post Earnings Announcement
NEW DELHI: Shares of Infosys Ltd slumped 4.50 per cent on Friday morning after the company’s second quarter earnings failed to cheer investors. The stock tanked 4.50 per cent to Rs 1,880.80 on the BSE. At the NSE, it dived 4.44 per cent to Rs 1,880.65. The stock was...
IBC May Get A Voluntary Group Insolvency Mechanism Soon
NEW DELHI: India is proposing to introduce a “voluntary” group insolvency framework under the bankruptcy law. This will facilitate a joint resolution of stressed entities of a domestic corporate group, given the interconnected nature of their operations, people aware of the development said. The framework will be a part...
India Poised To Be Third Largest Economy By 2030, Rising Population A Challenge: S&P
NEW DELHI: India is poised to be the third largest global economy by 2030 but rising population presents mounting challenges in basic service coverage and growing investment needs to maintain productivity, S&P Global Ratings said on Thursday. It said emerging economies have high ambitions for the next decade and...
Direct Tax-GDP Ratio Hits 24-Year High Of 6.64% In FY24, Shows Data
NEW DELHI: The share of direct taxes in gross domestic product (GDP) rose to a 24-year high of 6.64 per cent during 2023-24 (FY24), while direct tax buoyancy improved to 2.12 compared to the preceding year, according to official data released on Thursday. Direct tax collections increased more than...
Apparel Exports In FY2025 Stitch Up A Rebound After Flat Decade
NEW DELHI: India’s readymade garment exports, which had remained at a low ebb, have registered a turnaround in the current financial year. In September the exports of readymade garments (RMG) rose 17.3% to $ 1.1 billion. For the first half of the financial year 2024-25 the exports have been...
