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COLOMBO: India’s diversified entity ITC plans to open more hotels overseas with neighbouring countries and the Middle East as primary target markets after opening of its first international property here, company Chairman and Managing Director Sanjiv Puri said on Thursday. The company’s arm ITC Hotels, which had opened 22...
NEW DELHI: India’s services exports jumped 11.4 per cent to USD 345 billion in 2023 despite global economic uncertainties, while China’s shipments from the sector contracted by 10.1 per cent to USD 381 billion, according to a UNCTAD report. Sectors that contribute to India’s services export growth include travel,...
NEW DELHI: The commerce ministry has initiated an exercise to identify required infrastructure needs, potential sectors, and clusters which would help the country achieve the USD 1 trillion merchandise exports target by 2030, a senior government official said on Thursday. Additional Secretary in the Department of Commerce Anant Swarup...
NEW DELHI: Consumers sentiments in India’s housing market remain positive despite a rise in prices, according to realty portal Magicbricks. On Thursday, Magicbricks released a report ‘Housing Sentiment Index’ based on the survey of over 4,500 customers across 11 cities. “Despite inflationary pressures, the Housing Sentiment Index (HSI) across...
NEW DELHI: The Telecom Regulatory Authority of India (Trai) on Wednesday said the department of telecommunications (DoT) should allow sharing of all types telecom infrastructure between the operators, to reduce costs, improve quality of services, avoid duplication of investment, and provide timely services, among other things. Trai’s recommendation to...
KKR & Co. says the consumer sector will continue to provide investment opportunities in India, where the US buyout giant is also building out its private credit portfolio. The investment firm remains bullish on India’s domestic consumption story despite elevated valuations, according to Gaurav Trehan, head of Asia Private...
NEW DELHI: The Centre has drawn up a plan to streamline and strengthen incentive schemes for the micro small and medium enterprises (MSMEs), and this may be one of the priorities of the Narendra Modi government if voted back to power for a third term. The new measures being...
NEW DELHI: The Reserve Bank of India (RBI) on Wednesday asked private-sector lender Kotak Mahindra Bank to stop onboarding new customers through its online and mobile banking channels and barred it from issuing fresh credit cards. The regulator said the action was necessary as the bank failed to plug...
NEW DELHI: The country’s drugs and pharmaceuticals exports increased 9.67 per cent year-on-year to USD 27.9 billion in 2023-24, even as the total exports dipped by 3 per cent in the last fiscal. According to the commerce ministry data, pharma exports in March grew by 12.73 per cent to...
MUMBAI: The Indian IT services sector is staring at a second consecutive year of muted revenue growth due to modest increase in tech spends in Europe and the US, a domestic rating agency said on Wednesday. Crisil Ratings said it expects the sector to grow at 5-7 per cent...
NEW DELHI: Merger and acquisition (M&A) deal value soared by 60 per cent to USD 19.6 billion in January-March 2024, while that of private equity (PE) experienced a slight dip, according to a PwC India report. With 455 deals amounting to USD 25.6 billion disclosed value, the first quarter...
NEW DELHI: Close on the heels of receiving approval from the Petroleum and Natural Gas Regulatory Board (PNGRB), the Indian Gas Exchange (IGX) has launched contracts for small-scale Liquefied Natural Gas (ssLNG) on its platform in a bid to address the demand for fuel in areas not connected to...
NEW DELHI: Investment vehicles for realty and infrastructure sectors — REITs and InvITs — have garnered Rs 1.3 lakh crore in the past four years till March-end, and are expected to facilitate more pooled funds, Reserve Bank said in a report. Experts and stakeholders are of the view that...
MUMBAI: All India Management Association, a federation of Local Management Associations (LMAs), has witnessed a 20 per cent growth in registration for MAT (management aptitude test) in 2023 compared to the pre-Covid year. MAT has actively expanded its test centers across the country, making the examination more accessible to...
NEW DELHI: Extreme weather events may pose a risk to India’s inflation in the near-term, along with geopolitical tensions that could keep crude oil prices “volatile”, the Reserve Bank of India (RBI) said in its April Bulletin. Retail inflation in March eased 4.85%, after averaging 5.1% in January-March. Food...
NEW DELHI: India’s agriculture exports strategy is being reworked with greater focus on products whose trade is not regulated. The government has identified 20 farm products whose global imports are over $ 405 billion for focussed push in the coming years, official sources said. India’s share in the world...
MUMBAI: Foreign investors turned bullish on public sector banks (PSBs) in the fourth quarter while their interest waned in the private lenders. Foreign portfolio investors (FPIs) have trimmed their stake by up to 6% in nine private banks, but raised their holdings in 10 PSBs by up to 3%....
NEW DELHI: India’s private sector activity strengthened in April, helped by positive demand trends that fuelled new business intakes and output. In both the cases, the rates of expansion remained the fastest in nearly 14 years, said a survey by HSBC on Tuesday. According to the survey, the headline...