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NEW DELHI: Market size of the Indian footwear industry can increase by over three times to USD 90 billion by 2030 provided a host of measures such as a ban on show imports, fiscal incentives, more design centres and Taiwanese contract manufacturers setting up shops in the country are...
NEW DELHI: Rural startups are making a strong pitch for new programmes to foster research and innovation, as the grassroots-level entrepreneurs seek support for streamlined supply chains, subsidies, improved infrastructure, and easy access to finance. As the Budget and the Lok Sabha elections draw closer, startups working in various...
NEW DELHI: Discrepancies in computation of advance estimates of the country’s Gross Domestic Product for 2023-24 stood at Rs 2.59 lakh crore as against (-) Rs 3.80 lakh crore in 2022-23 and (-) Rs 4.47 lakh crore in 2021-22, according to National Statistical Office (NSO). On Friday, the NSO...
CHENNAI: Billionaire Mukesh Ambani on Sunday said his firm Reliance Industries in partnership with Canada’s Brookfield will open a data centre in Chennai next week, marking entry into the fast-growing market. Reliance had in July last year invested about Rs 378 crore to enter an existing joint venture, where...
NEW DELHI: Foreign Portfolio Investors (FPIs) continued their buying spree and poured close to Rs 4,800 crore in the Indian equity markets in the first week of January driven by confidence in the country’s robust economic fundamentals. Additionally, they injected Rs 4,000 crore in the debt market during the...
NEW DELHI: India’s economy is likely to grow a better-than-expected 7.3% in FY24, faster than all major global economies, powered by a double-digit rise in investments, led by government spending, official data released on Friday showed. The first advance estimate of gross domestic product (GDP) is higher than the...
NEW DELHI: Strong demand from both international and domestic markets spurred services sector activity to a three-month high in December, according to a private survey released Friday. The HSBC India Services Purchasing Managers’ Index ended 2023 at 59, higher than the previous month’s reading of 56.9, as per the...
NEW DELHI: The United Nations World Economic Situation and Prospects Report 2024 on Friday revised India’s gross domestic product (GDP) growth estimate for the 2024 calendar year to 6.2 per cent, compared to 6.7 per cent earlier. The report stated: “Economic growth in India is projected to remain strong...
MUMBAI: Market regulator Securities and Exchange Board of India (Sebi) Friday told institutional investors to disclose all short-sell transactions upfront at the time of placing an order. The regulator, however, permitted retail investors to make a similar disclosure by the end of the trading hours on the transaction day....
MUMBAI: The Reserve Bank of India has tightened rules for the issuance of short term Commercial Papers (CPs) and Non-Convertible Debentures (NCDs), with an initial maturity of up to one year. The new norms, which come into effect from April 1, involve six key changes. The tenor of such...
MUMBAI: The Pension Fund Regulatory and Development Authority (PFRDA) has sought a level-playing field for corporations in making contributions to the National Pension Scheme (NPS) so that they are at par with contributions made in provident fund (PF) for employees in respect of tax treatment. Currently, the tax exempt...
NEW DELHI: Canada-based Brookfield Asset Management will acquire the Indian business of American Tower Corporation (ATC) for an enterprise value of Rs 16,628 crore ($2 billion), the company said on Friday. After its third acquisition in India’s telecom sector in four years, Brookfield is set to become the largest...
MUMBAI: Benchmark stock indices Sensex and Nifty closed higher for a second straight day on Friday, following gains in IT, tech and capital goods shares amid fresh foreign capital inflows. After slipping briefly during the late afternoon trade, the 30-share BSE Sensex made a quick recovery and jumped 178.58...
NEW DELHI: The government on Friday said it will revamp the standard operating procedures for tunnel construction after an expert panel found many shortcomings in the under-construction Silkyara tunnel, which collapsed in November last year, leaving 41 workers stranded for more than two weeks. At a press briefing, Road...
MUMBAI: Electric Vehicle (EV) sales in India is expected to grow at a Compound Annual Growth Rate (CAGR) of 35 per cent with annual volumes likely to touch 27.2 million units by 2032, a report said on Friday. The report, ‘India Electric Vehicle Market Overview 2023’, by energy advisory,...
NEW DELHI: The Centre may aim for a modest disinvestment target of around Rs 30,000 crore in 2024-25, 40% lower than the target of Rs 51,000 crore for the current financial year, which is set to be missed by 60%, official sources said. This would represent a progressive lowering...
NEW DELHI: The Department of Telecommunications (DoT) will soon notify rules around leasing of spectrum to captive private networks, a move that will open another revenue stream for telecom operators, particularly for 5G monetisation. Telcos that have bought spectrum through auctions will be able to lease airwaves to captive...
MUMBAI: In line with the global funding winter, deal-making involving domestic firms hit a three-year low after falling 51 per cent to $83.8 billion in 2023, saved by the mega-merger of HDFC twins — the biggest deal in India Inc’s history till date, according to an industry report. Excluding...