Business
GAIL Says LNG Under New Pacts To Flow From 2026, Gets One More Ship
NEW DELHI: State-owned gas utility GAIL (India) Ltd will start importing LNG under two new contracts from 2026 and has added one more ship to transport the fuel, its Chairman Sandeep Kumar Gupta said on Wednesday. The company had in January this year signed back-to-back deals to import liquefied...
Govt To Soon Launch Scheme To Train Adolescent Girls For Non-Traditional Jobs
NEW DELHI: The government will soon launch a scheme to train 14-18 years old girls in non-traditional job roles, a move aimed at increasing women’s participation in the labour force, a top official said on Wednesday. The pilot of the scheme will be launched in the next 2-3 weeks,...
Family Offices AUM Growth Projected At 14 Per Cent Over Three Years: Report
NEW DELHI: Family Offices in India projected for 14 per cent growth in Asset Under Management (AUM) and a 5 per cent increase in alternative investments over the next 3 years, a report said. AUM for mid to large-sized family offices in India will grow at a Compound Annual...
UPI Transaction Volume Expected To Rise To 439 Billion By FY29: PwC India Report
NEW DELHI: The total transaction volume on UPI is expected to increase to 439 billion by 2028-29 from about 131 billion in the last financial year and account for 91 per cent of overall retail digital payments, said a PwC India Report. The report titled ‘The Indian Payments Handbook...
India’s Bioeconomy To Hit $300 Billion By 2030 Under New BioE3 Policy
New Delhi: India’s bioeconomy has seen exponential growth, ballooning from $10 billion in 2014 to a staggering $130 billion in 2024, with expectations to triple to $300 billion by 2030. This surge is largely attributed to the recently unveiled BioE3 (Biotechnology for Economy, Employment, and Environment) Policy, aimed at...
India-GCC Trade Hits $162 Billion, Growing Ties In Energy, Defence, And Tech
New Delhi: The Gulf Cooperation Council (GCC) now contributes 15% to India’s total trade, with bilateral trade between India and the region reaching USD 162 billion last year, said Aseem R Mahajan, Joint Secretary – Gulf, Ministry of External Affairs. Addressing the ‘India MENA Business Dialogue: Bridging Economics, Fostering...
OPEC+ Output Cut May Push Indian Refiners To Crude Oil Supply From Americas: US EIA
NEW DELHI: Rising consumption of liquid fuels in India, which is expected to touch 6.6 million barrels per day (mb/d) by 2028, and declining crude oil exports from West Asia due to production cuts by the Organization of the Petroleum Exporting Countries and allies (OPEC+) could force Indian refiners...
Indian Steel Sector To See $2.70 Billion Investment In Digital Technology By 2030
KOLKATA: Indian steel industries’ investment in digital and process technology is forecast to touch $2.70 billion by 2030, according to a report of industry body, Federation of Indian Chambers of Commerce and Industry (FICCI) and consultant Deloitte on Tuesday, August 27. The report, titled “Automation, Digitalisation and Technology Integration...
RINL And IOCL Sign 5-Year MoU For Supply Of Hydraulic And Lubricating Oils From 2024 To 2029
NEW DELHI: At a simple program held at Main conference hall in administrative building of RINL, the corporate entity of Visakhapatnam Steel Plant, today, RINL signed a MoU(memorandum of understanding) with M/s. IOCL for the supply of hydraulic and lubricating oils & greases for a period of 5 years...
India Inks Another Deal For 73,000 Assault Rifles From The US
NEW DELHI: India has now inked another contract for the import of an additional 73,000 SiG Sauer assault rifles from the US, which will add to the 72,400 such guns bought earlier for frontline Army troops, amid the continuing military confrontation with China in eastern Ladakh. “The SiG-716 `Patrol’...
TRAI Asks Top Regulators To Apply Whitelist Norms By September 1
NEW DELHI: To tackle the problem of spam messages and calls, the Telecom Regulatory Authority of India (TRAI) on Tuesday asked the Reserve Bank of India (RBI), various sector regulators, and government agencies to implement the mandatory whitelisting or registration of internet links, Android application packages (APKs) and call...
Oil And Gas PSUs Carry Out A Third Of Annual Capex In April-July
NEW DELHI: Public-sector oil and gas companies have spent over Rs 38,419 crore as capex in the first four months of the current financial year 2024-25, nearly 32.4% of the annual capex target of Rs 1.2 lakh crore, provisional data from the Petroleum Planning and Analysis Cell showed. The...
SEBI Rights Issue Plan May Hit Merchant Bankers’ Revenue
MUMBAI: The Securities and Exchange Board of India (Sebi)’s proposal to overhaul the rights issue process to boost its appeal as a fundraising route is likely to pose a serious threat to revenue streams of merchant bankers. One of the key changes suggested by the regulator is the elimination...
India To Sign High Seas Treaty In September, Joining Global Effort To Protect Ocean Biodiversity
NEW DELHI: India will sign the Biodiversity Beyond National Jurisdiction Agreement, shortly known as High Seas Alliance, next month, Cdr P K Srivastava, Scientist, Ministry of Earth Sciences, said today. The Cabinet of Ministers cleared India to sign the agreement last month, and the actual signing will take place...
Centre Decreases Public Grievances Redressal Time From 30 To 21 Days
NEW DELHI: The Centre has reduced redressal time of public grievances, raised on a dedicated portal, to 21 days, from the existing 30 days. In an order mentioning revised guidelines, it has suggested appointment of dedicated officers to handle complaints besides emphasising “whole of the government approach. “This means...
GDP Growth Rate Likely To Decline To 7.1% In Q1, Say SBI Economists
MUMBAI: Economists at the country’s largest lender SBI on Monday joined other watchers forecasting a slip in the economic growth and estimated India’s real GDP growth to come at 7.1 per cent for the June quarter. The economists said the growth in gross value added (GVA) will fall below...
RBI To Launch Unified Lending Interface To Transform Lending Space: Governor
MUMBAI: The Reserve Bank of India (RBI) will launch the Unified Lending Interface (ULI) nationwide in due course, aiming to transform India’s lending sector, similar to how the Unified Payments Interface (UPI) revolutionised the payments ecosystem, Governor Shaktikanta Das said on Monday. The new platform will provide lenders consent-based...
India, Singapore Pledge To Cement Ties In ’Emerging Areas’
India and Singapore on Monday pledged to reinforce their ties in emerging areas such as digital connectivity, fintech, green economy, green hydrogen, skill development and food security. In the second meeting of their ministerial roundtable held in Singapore on Monday, sustainability, healthcare, connectivity and advanced manufacturing were discussed, according...
