MENU 
NEW DELHI: India is looking at forming an iron-ore beneficiation policy, whereby low-grade ore would be upgraded to higher variants, Steel Secretary Nagendra Nath Sinha, said. The move would help maximise the use of ore with less iron content in steel production. The use of ore with less iron...
BENGALURU: India’s pulses exports during 2023-24 declined 22 per cent in volume and 2.5 per cent in value terms on a slowdown in purchases by key buyers such as Bangladesh, China and the United Arab Emirates on higher prices. Pulses exports stood at 5.94 lakh tonnes (lt) during 2023-24...
MUMBAI: The frenzy of some of the Urban Co-operative Banks (UCBs) to acquire large corporate exposures, which are beyond their bite size, should be strictly avoided, according to Swaminathan J, Deputy Governor, RBI. Further, there is a need to closely monitor the existing large exposures. “Concentration risk whether it...
NEW DELHI: India’s market watchdog has recommended that several regulators oversee trade in cryptocurrencies, documents show, the strongest signal to date that at least some authorities in the country are open to allowing the use of private virtual assets. The position of the Securities and Exchange Board of India...
BENGALURU: India’s internet economy is estimated to reach $1 trillion by 2030, primarily due to e-commerce, which is expected to be worth $325 billion and rank third globally, according to industry experts. Last year marked a crucial turning point for India’s e-commerce sector, with notable changes in consumer trends,...
MUMBAI: Automotive (auto) major Mahindra & Mahindra (M&M), which is readying to launch nine sport utility vehicles (internal combustion engine/ICE), seven Born Electric Vehicles (BEVs), and seven light commercial vehicles by 2030, has outlined an investment of Rs 27,000 crore in its auto business between 2024-25 (FY25) and 2026-27...
NEW DELHI: Merchandise exports from India may grow to $500-510 billion in the current financial year (FY25) after witnessing a 3 per cent contraction in the last financial year (FY24), Federation of Indian Export Organisations (FIEO), the apex body for exporters, said on Thursday. Services exports could be worth...
NEW DELHI: India aims to replicate the Chabahar port model in other strategic locations in the region to gain access to more such assets, said Sarbananda Sonowal, Union Minister of Ports, Shipping and Waterways. India is actively exploring opportunities to enhance its maritime presence and trade connectivity, he said...
NEW DELHI: Reliance Industries Ltd on Thursday said it has completed the sale of REC Solar Norway AS to Oslo-listed Elkem ASA for around USD 22 million. REC Norway is a wholly-owned unit of REC Solar Holdings and is involved in the manufacturing of kerf-based polysilicon in the Scandinavian...
NEW DELHI: The traditional PC market in India, comprising desktops, notebooks, and workstations, grew 2.6 per cent to 30.7 lakh units in the March quarter, market research firm International Data Corporation said on Thursday. HP led the personal computer (PC) market with a 30.1 per cent share despite an...
NEW DELHI: State-owned gas utility GAIL (India) Ltd on Thursday reported more than tripling of its fourth quarter net profit after natural gas transmission and petrochemical business saw a turnaround. Its standalone net profit of Rs 2,176.97 crore in January-March — the fourth quarter of 2023-24 — was 261...
NEW DELHI: Air passenger traffic in the country is projected to touch record levels in the range of 407-418 million in the current financial year and the revenues of select airport operators together are estimated to rise 15-17 per cent during the same period, rating agency Icra said on...
NEW DELHI: Samco Asset Management expects to mop up Rs 500 crore from its new fund offer that tracks long-term capital growth through undervalued or overlooked opportunities, a top company official said on Thursday. The new fund offering (NFO) would open on May 17 and conclude on May 31....
NEW DELHI: The government is considering a change in the base year for key economic indices to FY23, as well as a revamp of several datasets, to better capture structural changes in the economy, said people aware of deliberations on the matter. Measures such as the Index of Industrial...
India has become the data centre leader in the Asia-Pacific (excluding China), having overtaken Singapore, Australia, South Korea, Japan and Hong Kong on installed capacity, reflecting the burgeoning demand for data in the world’s fastest-expanding major economy. With installed capacity of 950 MW and anticipated addition of a further...
NEW DELHI: Disruptions caused by geopolitical tensions, such as the Red Sea crisis, and softer commodity prices dragged down the value of India’s goods exports to a five-month low in April. Data released by the commerce department showed that the country’s merchandise exports grew merely 1.07 per cent year-on-year...
MUMBAI: The State Bank of India (SBI) has hiked interest rate on retail term deposits by 25-75 basis points for deposits up to 1 year, giving further push to competition for raising resources. The revised rates for deposits came into effect from May 15, 2024. In the retail term...
NEW DELHI: India’s unemployment rate in urban areas fell sharply to 6.6% in FY24 from 7.2% in the previous year, helped by the smart growth in the economy. India’s economy is estimated to have grown at 7.6% last fiscal, as per the National Statistical Office’s (NSO) second advance estimates,...