Business
Mcap Of Nine Of Top-10 Most Valued Firms Erodes
NEW DELHI: Nine of the top-10 most valued firms together lost a whopping Rs 4,74,906.18 crore in market valuation last week, with Reliance Industries and HDFC Bank taking the steepest hit, in line with weak trends in equities. Markets faced heavy drubbing last week amid worsening tensions in the...
High GST Rates Hinder Growth Of India’s Carbonated Soft Drinks Market
NEW DELHI: Carbonated soft drinks segment in India is unable to reach its potential in terms of scale expansion due to barriers such as high taxation under the GST regime despite government’s initiatives like ‘Make in India’ and ‘Aatmanirbhar Bharat’, according to a report by economic think tank ICRIER....
Auto Industry Expects Robust Sale During Festive Season
NEW DELHI: Auto industry players are eyeing robust performance in the ongoing festive period to lift overall consumer sentiment and set the tone for the rest of the year amid slowing demand. The festive season usually commences with Onam and ends with Diwali every year. Kia India National Head...
No Stopping India’s Growth, Reforms: PM
NEW DELHI: India will continue with its programme of structural reforms on its way to becoming a developed nation, Prime Minister Narendra Modi said, describing the country as a “sweet spot” amid global uncertainty. “The government is following the mantra of Reform, Perform and Transform… Bharat has made ‘process...
Ecommerce Companies Get Interim Stay On CCI Proceedings
NEW DELHI: The Karnataka High Court has imposed an interim stay on the competition watchdog’s proceedings against Flipkart and Amazon due to a procedural lapse on the part of the director general (DG) investigating alleged foreign direct investment (FDI) rule violations by the two ecommerce companies. The initial report,...
Demand Slowdown Pulls Down Services PMI To 10-Month Low In September
NEW DELHI: Growth in India’s dominant services sector declined to a 10-month low in September on the back of a slowdown in demand as new business, international sales, and output all rose at their slowest rates since late 2023, according to a private business survey released on Friday. The...
‘Navratna’ MTNL Is Now An NPA In SBI’s Books
MUMBAI: Mahanagar Telephone Nigam (MTNL), a Navratna company, has been declared a non-performing asset (NPA) by State Bank of India (SBI), the state-run telco informed the exchanges on Friday. This comes a month after Punjab National Bank (PNB) downgraded the loan accounts of the company, which provides services in...
China Outpacing India In Technology, Defence Production & Infrastructure, Says IAF Chief
NEW DELHI: With China steadily eroding India’s air combat advantage along the frontier by deploying a greater number of aircraft, the Indian Air Force chief on Friday said his force was also upgrading its forward airbases and advance landing grounds, while asking Hindustan Aeronautics Limited for faster delivery of...
After FY26, GST Cess May Stay In New Avatar
NEW DELHI: With most states not keen to let go of revenues, the Goods and Services tax (GST) compensation cess will likely be retained beyond January 2026, by when the compensation-related loans and interest would likely be fully repaid, sources said. However, the cess would be “re-branded” with a...
OMCs To Invest Over Rs 1.9 Lakh Crore In Expansion Of Refining Capacity By 2030
NEW DELHI: India’s oil marketing companies are expected to add 35-40 million tonnes of crude oil refining capacity by the end of the fiscal 2029-30 in order to meet the growing energy demands of the country and the expected growth in consumption, as per Crisil Ratings. Furthermore, the agency...
Railways Floats Tenders For Placing Kavach On 9,600 Km Of Tracks
NEW DELHI: The railways ministry has fast-tracked its plans to install the Kavach Automatic Train Protection system in the wake of the recent accidents and has floated tenders for fixing it on 9,600 km of railway tracks as well as equipping 10,000 locomotives with the device in the coming...
TRAI Seeks Views On Satcom Spectrum Allocation And Pricing Methodology
NEW DELHI: The telecom regulator has sought views on the pricing methodology and terms and conditions of allocating satellite spectrum — without auctions — to companies seeking to launch satellite broadband services in the country. Global biggies such as Bharti Group-backed Eutelsat OneWeb, Amazon-backed Kuiper, Elon Musk’s Starlink, Globalstar...
EPFO Gets Smarter, Claims Settlement Now 30 Per Cent Faster
NEW DELHI: Processing of claims by the Employees’ Provident Fund Organisation (EPFO) has seen a sharp jump of about 30% year-on-year in August-September, thanks to the latest software upgrade by the world’s largest retirement fund body’s digital platform. The slower pace of claims settlement by EPFO had earlier been...
AICTE, OPPO India Launch Second Phase Of ‘Generation Green’ Campaign
The All-India Council for Technical Education (AICTE) and OPPO India launched the second phase of their ‘Generation Green’ campaign with a nationwide e-waste awareness drive at Ramjas College, University of Delhi. Ramjas College became the first ‘Eco-Conscious Champion Institute’ under the initiative. The campaign aims to educate youth on...
New PLI Scheme For Specialty Steel: Government
NEW DELHI: The government is working on the another round of the PLI scheme for speciality steel as the response for the first round of the initiative did not meet expectations, according to Steel Secretary Sandeep Poundrik. The top ministry official made the remarks at CII Steel Summit 2024...
Karnataka Launches Draft GCC Policy To Attract Investments, Create Jobs
NEW DELHI: The Karnataka Government on Friday launched a draft Global Capacity Centres (GCC) policy with the aim to generate USD 50 billion economic output and attract 500 new GCCs by 2029, creating 3.5 lakh jobs. According to officials, this policy is designed to enhance investor confidence, promote seamless...
Government Plans 4.5-6 Crore Textile Jobs By 2030
NEW DELHI: The government has prepared a road map for creating 4.5-6 crore jobs in the textile sector by 2030, Union Minister Giriraj Singh said on Friday, asserting that efforts are being made to take the sector’s market size to USD 350 billion from around USD 165 billion at...
SC Clears GMR Airports To Operate Nagpur Airport, Closes Curative Plea Of Centre, AAI
NEW DELHI: The Supreme Court on Friday cleared decks for private firm GMR Airports to upgrade and operate Nagpur’s Babasaheb Ambedkar International Airport (AAI) by closing the proceedings on a curative plea of the Centre and the Airport Authority of India. The Centre and the AAI had filed a...
