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NEW DELHI: Nearly 59 per cent of large organisations (those with over 1,000 employees) surveyed in India are using Artificial Intelligence (AI) actively in their businesses, according to a new research commissioned by IBM. The ‘IBM Global AI Adoption Index 2023’ found early adopters are leading the way, with...
NEW DELHI: Finance Minister Nirmala Sitharaman on Thursday asked state-owned Security Printing & Minting Corporation of India (SPMCIL) to find ways to transform itself at a time when its core business of printing currencies is depleting because of India’s transition to a digital economy. Addressing the foundation day of...
NEW DELHI: The negotiations for the proposed India-UK free trade agreement are at an advanced stage, and both sides are working to iron out differences on the remaining issues, a top government official said on Thursday. Commerce Secretary Sunil Barthwal said the negotiations are taking time because “we want”...
NEW DELHI: India, Bangladesh, Egypt, Indonesia and South Africa have raised concerns at a latest World Trade Organization (WTO) draft on dispute settlement reform which proposes inclusion of mediators during consultations and the composition and powers of dispute settlement panels. In a submission made Monday, they said that novel...
NEW DELHI: The Supreme Court on Wednesday proposed a panel of domain experts to inspect the closed Sterlite copper unit in Tamil Nadu’s Tuticorin and suggest further compliances and way forward, saying shutting down a plant of “national importance” will not serve anybody’s purpose. The plant is closed since...
BENGALURU: Global card payment players like Visa and Mastercard are reaching out to the Reserve Bank of India for clarifications on business payments made through their networks, industry insiders said. Simultaneously, fintechs offering business payment solutions are looking at alternative means to ensure their clients can continue to make...
NEW DELHI: India’s wholesale price index (WPI)-based inflation rate eased to a three-month low of 0.27 per cent (year-on-year) in January due to moderation in prices of food articles and manufacturing products, according to data released by the Ministry of Commerce and Industry on Wednesday. In December 2023, the...
MUMBAI: Recently leaked documents have exposed the potential consequences of the India-European Free Trade Association (EFTA) trade deal on affordable medicines. Millions of people around the world could lose access to affordable medicines if the trade deal between India and EFTA is finalised in its current form, medical aid...
NEW DELHI: India’s services trade surplus shot up to a record $44.9 billion in the October-December quarter (third quarter, or Q3) of 2023-24 (FY24), growing 16 per cent year-on-year, showing resilience amid strong global headwinds. This is likely to reduce the current account deficit (CAD) in Q3. According to...
MUMBAI: Outlier growth in personal loans and exposure to non-banking finance companies (NBFCs) were among the prominent issues that RBI top brass discussed with the chiefs of public sector banks and select private sector banks in a meeting on Wednesday. The discussion on the aforementioned issues came about three...
NEW DELHI: Industry bodies such as Confederation of All India Traders (CAIT) and Clothing Manufacturers Association of India (CMAI) have urged the Centre to postpone implementation of the MSME payment amendment in the income-tax. According to 44 (b) (h), any payment made to registered micro, small or medium enterprises...
NEW DELHI: Absence of top international oil companies from India’s exploration and production (E&P) sector could be due to lacklustre discoveries in the last 23 years even as the government has undertaken several fiscal and licensing reforms. The International Energy Agency (IEA) in a report said while the recent...
MUMBAI: The Insurance Regulatory and Development Authority of India (Irdai), on Wednesday, proposed 30 days ‘free look’ period for policies sold physically or through digital channels from the date of receipt of the policy document. A ‘free look’ period is the length of time during which a policyholder can...
NEW DELHI: After achieving success in domestic manufacturing of global electronics products like iPhones, the government is now working on a component-linked incentive scheme to make India both a product nation as well as a component-producing destination. The component-linked incentive scheme will encourage the production of electronics parts besides...
NEW DELHI: The Department of Telecommunications (DoT) is finalising modalities around administrative allocation of satellite spectrum, which is likely to include clauses such as the airwaves will only be given to offer services through a fixed terminal, officials aware of the details told ET. “Terms and conditions in the...
NEW DELHI: American retail major Walmart has cumulatively sourced products worth $30 billion from India over the last two decades even as it’s working towards an annual sourcing target of $10 billion by 2027, Andrea Albright, executive vice-president – sourcing, Walmart, said here on Tuesday. Albright was speaking at...
MUMBAI: In a show of confidence, Moody’s Investors Service on Tuesday revised the outlook on four Adani Group companies to ‘stable’, a year after revising it to ‘negative’ following a unverified report by US-based short seller, Hindenburg Research. The global ratings agency changed the outlook to ‘stable’ on Adani...
NEW DELHI: Continuous easing in core inflation is likely to provide confidence to the Reserve Bank of India’s Monetary Policy Committee as it augurs well for the expected moderation in the retail inflation trajectory, economists said. Core inflation – or inflation excluding food and fuel – eased to 3.6...