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CHENNAI: Toy manufacturer Funskool India, part of tyre major MRF Group, has taken up expansion at its manufacturing facilities in Tamil Nadu to make India a global hub for toy manufacturing. The expansion work at its premises in Ranipet, would effectively double the manufacturing capacities. The upgraded facilities in...
NEW DELHI: Daimler India Commercial Vehicles on Wednesday said it plans to foray into the domestic battery electric segment with the launch of the all-electric next-generation light duty truck eCanter in the next 6-12 months. The all-new next-generation eCanter had its world premiere in Japan and Europe in the...
NEW DELHI: The International Monetary Fund (IMF) raised India’s growth forecast to 6.8% for FY25, from 6.5% projected in January, on the back of the domestic economy’s strength. India remains the world’s fastest growing economy. The multilateral institution also revised upward the 2024 growth forecast for the world economy...
BENGALURU/MUMBAI: After releasing guidelines for online payment aggregators like Razorpay and Cashfree, the Reserve Bank of India on Tuesday issued draft rules to regulate point-of-sale payment service providers (PA-P). Companies like Innoviti Payments, Pine Labs and MSwipe will be brought under regulatory cover now. The regulator said companies providing...
NEW DELHI: India’s unemployment rate is anticipated to decline by up to 97 basis points by 2028, according to a new report released by the Observer Research Foundation (ORF) on Tuesday. The report, titled India Employment Outlook 2030, highlights projections indicating a decline in the unemployment rate from 4.47...
India on Tuesday called for decisive action on Security Council reform, championing an inclusive framework that truly represents the dynamic global landscape of today. During the 6th round of the intergovernmental negotiations on Security Council reform on Tuesday (local time), the Permanent Representative of India to the United Nations...
NEW DELHI: The government has no plans to monetise its stake in Vodafone Idea, Tuhin Kanta Pandey, secretary, department of investment and public asset management told Fe, ahead of the mega follow-on public offer (FPO) by the telecom operator. The telco is hitting the market with an Rs 18,000...
NEW DELHI: The power ministry is likely to focus on augmenting transmission lines, finalising the hydro policy, viability gap funding for battery storage systems and boosting pumped hydro storage projects in the first 100 days of the new government. A senior government official told ET that the ministry will...
NEW DELHI: Coal India’s (CIL) capital expenditure as whole has risen by 6.5% on year to Rs.19,840 crore ending FY 2024, the highest till date. Comparatively, the capex was Rs. 18,619 crore in the preceding fiscal year. CIL achieved 120% target satisfaction over the year’s capex target of Rs....
NEW DELHI: Just ahead of its mega FPO opening to public investors, Vodafone Idea (VIL) has announced closure of its anchor book allocation, raising about Rs 5,400 crore from marquee global as well as domestic investors, according to a statutory filing by the telco. This could be the third-largest...
NEW DELHI: Shares of Jio Financial Services Ltd on Tuesday climbed 5 per cent after the company announced a 50:50 joint venture with BlackRock for setting up a wealth management and broking business. The stock gained 4.89 per cent to Rs 371.75 on the BSE. On the NSE, shares...
MUMBAI: Equity benchmark indices continued to slump in early trade on Tuesday on fears of escalating tensions in the Middle East and weak global trends. Foreign fund outflows and uptick in Brent crude oil prices also dented investors’ sentiment. Continuing its downtrend for the third day running, the 30-share...
NEW DELHI: India’s merchandise exports contracted 3.1% on year in 2023-24 and imports 5.3%, even though the later months of the year saw a pick-up in the two-way shipments. The contraction in goods trade with other countries came after two successive years of positive growth on the low base...
NEW DELHI: India’s wholesale price index (WPI)-based inflation accelerated to 0.53 per cent in March on an annual basis, as against 0.20 per cent in February, stated the provisional data released by the Ministry of Commerce & Industry. WPI inflation stood at 1.34 per cent in March 2023. Positive...
MUMBAI: After the Reserve Bank of India raised concerns about the high credit-deposit (CD) ratio, banks have started taking steps to bring it down by growing deposits faster in the fourth quarter. The provisional figures show that the deposit growth of several banks has outpaced loan growth in the...
NEW DELHI: In what could come as a relief to the government’s fight against inflation, the India Meteorological Department (IMD) predicted an ‘above-normal’ monsoon in 2024, which quantitatively could be around 106 per cent of the long period average (LPA). This mirrors the consensus that most weather experts have...
NEW DELHI: India continues to be the preferred destination for global businesses aiming to build and expand their digital services portfolio, according to a recent study by industry body Nasscom-Avasant. Over 50 per cent companies in the travel and transportation, telecom, media and entertainment, and construction and engineering sectors...
NEW DELHI: The Ministry of Power has asked all thermal plants using imported coal to operate at full capacity for another three and a half months till October 15 to avoid electricity shortage amid rising demand in the country. The ministry has projected peak power demand of 260 GW...