Business
Consumption, Infrastructure Could Light Up Samvat 2080: Experts
MUMBAI: After a decent show in Samvat 2079, which saw investor wealth surge by Rs 46 trillion, stock market experts are upbeat about the upcoming Samvat 2080. They believe that despite the volatile global landscape owing to ‘higher for longer’ rates, high bond yields, geopolitical conflicts and elevated oil...
RINL Sale: Bidders May Have To Pledge To Expand Unit; Some Land Parcels May Be Kept Out Of Deal
NEW DELHI: The Centre is drawing up a plan for the privatisation of Rashtriya Ispat Nigam Ltd (RINL), also known as Vizag Steel, under which the prospective buyer/s would have to commit to expand its 7 million tonne (MT) plant, an official source said. The capacity scope for the...
By Around 2030, Indian Rupee Will Be A Global Hard Currency: Sanjeev Sanyal
NEW DELHI: Sanjeev Sanyal, member of the Prime Minister’s Economic Advisory Council, thinks given the strengths of India’s macroeconomic fundamentals, its sovereign rating should be “at least two notches higher” than the current level (lowest investment grade). According to him, by around 2030, Indian rupee will be an international...
Public Sector Banks Assure Government Small Loans Not A Systemic Risk
Amid mounting concerns over delinquencies, public sector lenders have assured the finance ministry that they do not see any systemic risks emanating from small unsecured loans as their overall exposure remains small. The finance ministry had asked state-run banks to review their small loan portfolios and submit a report...
Global VC Investments Drop 5.4% As VCs Remain Cautious: KPMG Report
MUMBAI: Global venture capital (VC) investments dipped 5.4 per cent on a quarter-on-quarter (Q-o-Q) basis from $81.4 billion in the second quarter of calendar year 2023 (Q2CY23) to $77 billion in the third quarter of calendar year 2023 (Q3CY23) as VCs remain cautious before closing deals. The number of...
Domestic Demand To Sustain India Growth In The Near Term, Says Moody’s
NEW DELHI: Strong domestic demand is likely to sustain India’s economy in the near term, said Moody’s on Thursday as it kept the country’s growth forecast for 2023 and 2024 unchanged at 6.7 and 6.1 per cent. “Robust goods and services tax collections, surging auto sales, rising consumer optimism...
Goods Exports Rise For The First Time In Eight Months
NEW DELHI: After a gap of eight months, India’s goods exports rose for the first time in October, driven by pharma and engineering exports. While official numbers are due to be released on November 15, preliminary data accessed by TOI estimated that exports went up by around 3% over...
Amid High Oil Prices, India Puts Onus Of Global Growth On OPEC
NEW DELHI: India on Thursday put the onus of long-term prosperity of the world oil market on OPEC and called upon the grouping of exporting countries to maintain market stability for the benefit of consumers, producers and global economy. At the 6th meeting of the Indian-OPEC Energy Dialogue in...
October CPI Inflation Seen At 5-Month Low Of 4.8 Per Cent
NEW DELHI: India’s Consumer Price Index (CPI) – based inflation likely fell to a five-month low of 4.8% in October from 5.02% in September, primarily due to the statistical effect of a high base and decline in prices of key vegetables, according to an FE poll of 15 economists....
11 Firms Ride The Market Wave To Join Rs 1-Trillion M-Cap Club
MUMBAI: As Indian markets scaled new highs this financial year, the market capitalisation (m-cap) of 11 companies crossed the Rs 1 trillion-mark over the past seven months, joining the club with 46 others. This is a rise of 19% over FY23. These 11 firms include Adani Power, DLF, Hindustan...
India Proposes Slashing EV Import Taxes To Clinch UK Free Trade Deal
India is proposing reducing import taxes on some electric vehicles from the UK in an effort to clinch a free-trade deal between the two nations by the end of the year, according to two people familiar with the discussions. New Delhi is considering a concessional tariff of 30% on...
Adani’s Colombo Port Terminal To Get $553 Million Funding From US DFI
NEW DELHI: The US Develop–ment Finance Corporation (DFC) on Wednesday announced it would provide $553 million for Colombo West International Terminal Pvt Ltd (CWIT), in which Adani Ports and Special Economic Zone (APSEZ) is a majority stakeholder with 51 per cent. It is part-owned by Sri Lanka’s John Keells...
Survey Soon To Gather Data From Informal Sector Firms
NEW DELHI: India will soon begin work on the 2023-24 round of the Annual Survey on Unincorporated Sector Enterprises (ASUSE) even though the results of the previous surveys, dating back to four years, are yet to be released. The aim of ASUSE, along with the Annual Survey of Service...
Policy Soon To Make Airports Transit Hubs For South Asia
NEW DELHI: India is framing a national policy to transform its airports into major international hubs that will offer single-point international connectivity to the South Asian region. The policy, which will need cabinet nod, aims to frame laws for easing security and immigration bottlenecks at airports, allocation of international...
Economists See Onion Driving Inflation Near 6 Per Cent
NEW DELHI: Rising onion prices are unlikely to have a significant impact on inflation in October but may lead to inflation rising to near 6% levels in coming months, said economists. Onion prices rose nearly 75% in the first week of November compared with the previous month. “Alongside a...
Alternative Investment Funds Seek Clarity From SEBI On New Valuation Norms To Address Gaps
MUMBAI: Alternative Investment Funds (AIFs) are awaiting clarity from the markets regulator, the Securities and Exchange Board of India (Sebi), on the valuation mandate to address gaps in audit timelines, operational challenges, and issues in benchmarking. Last week, Indian Private Equity and Venture Capital Association (IVCA) — the industry...
New Investment Demand Likely To Taper In Second Half Of FY24: ICRA
NEW DELHI: New investment demand in the second half of this fiscal year is likely to be tempered amid increased geopolitical tensions in the Middle East, and a potential slowdown in the momentum of government capital expenditure (capex) and project execution prior to the general elections, said credit rating...
CPSE Dividends To Centre To Exceed Budget Estimate By Rs 20,000-Crore In FY24
NEW DELHI: The Centre’s dividend receipts from the Central Public Sector Enterprises (CPSEs) will likely exceed the budget estimate (BE) of Rs 43,000 crore for 2023-24 by close to Rs 20,000 crore, bridging partly the likely shortfall in disinvestment receipts. So far in the current financial year, around Rs...
