Business
India, Qatar Aim To Double Trade To $28 Billion In 5 Years, Explore FTA
NEW DELHI: India and Qatar are exploring the possibility of signing a free trade agreement (FTA) in future and the two nations have set an aim of doubling bilateral trade to $28 billion in the next five years. “While there are talks going on for the India-Gulf Cooperation FTA,...
India’s Fiscal Trajectory In Line With Our Expectations: S&P Global Ratings
NEW DELHI: S&P Global ratings on Tuesday said that India has had a strong record of meeting revenue and fiscal deficit targets at the central level and that the rating agency’s expectations for fiscal trajectory in India are in line with projections made in the Union Budget for financial...
VSAT Players To Vacate Key Spectrum Band For Telecom Companies
NEW DELHI: In a move set to benefit telecom operators and consumers, the government will be directing VSAT (very small aperture terminal) service providers such as Tata Group’s Nelco, Hughes Communications and Inmarsat to vacate the 6 GHz spectrum band to make way for high-speed 5G and future 6G...
Demand For Indian Workers Set To Rise In Seven Key Regions
NEW DELHI: The international employment landscape for Indian workers remains strong, with sustained hiring across regions, as many as 3 million Indian workers expected to get employment opportunities from seven key countries by 2030, according to an analysis by the Union labour ministry. Among the seven countries – Saudi...
Insurance Cover For Bank Deposits May Be Doubled
NEW DELHI: The Centre is considering doubling the insurance cover for bank deposits, from Rs 5 lakh at present, to assuage the concerns of depositors, especially senior citizens, and strengthen the trust in the banking system, sources told FE. An announcement in this regard is expected by March end....
Trade Deficit Widens To Nearly $23 Billion In January As Exports Shrink
NEW DELHI: India’s merchandise trade deficit widened to nearly $23 billion in January, compared with $16.5 billion a year earlier, as the value of exports dropped amid subdued demand for petroleum products and global economic uncertainties. Exports contracted by 2.4 per cent year-on-year to $36.43 billion in January, according...
India Leading The Next Phase Of Global Outsourcing Expansion: Survey
NEW DELHI: India’s outsourcing landscape is undergoing a significant transformation, with 81% of organisations planning to increase outsourcing efforts over the next three to five years, according to Deloitte’s latest report, ‘The Outsourcing Compass: Decoding Strategies of Today’. This shift is driven by the growing demand for technological advancements,...
TRAI Recommends Bringing Teleport Operators, IXPs Under Authorisation Regime
NEW DELHI: The telecom regulator has recommended that new telecom entities such as satellite earth station gateway, or teleport, providers and internet exchanges be regulated under the authorisation regime that it has already proposed for replacing the licensing regime. In its recommendations published on Monday, the Telecom Regulatory Authority...
Higher Bank Deposit Insurance Cover On The Cards
MUMBAI: The government is “actively considering” raising the insurance cover for bank deposits further from the ceiling of Rs 5 lakh fixed less than five years ago, department of financial services (DFS) secretary M Nagaraju said on Monday. The move comes in the backdrop of the fraud at New...
Govt Moves To Streamline Insurance Sector Compliance Ahead Of 100% FDI
NEW DELHI: The government is looking to streamline compliance and enhance ease of doing business in the insurance sector. A government official said efforts are underway to identify redundant regulations, especially as India prepares to allow 100% foreign direct investment (FDI) in the sector. “Some of these issues will...
Profit Booking Leading FIIs To Sell Indian Equities: FM
MUMBAI: Seeking to assuage concerns over Foreign Institutional Investors (FII) selling Indian equities lately, Finance Minister Nirmala Sitharaman on Monday attributed the action to profit booking. Speaking to reporters in the financial capital, Sitharaman said the Indian economy is one where the investors are bagging better returns which leads...
Airtel Completes Landing Of SEA-ME-WE-6 Submarine Cable
NEW DELHI: Bharti Airtel on Monday said it has completed the landing of the new Southeast Asia-Middle East-West Europe-6 or SMW6 (SEA-ME-WE 6) submarine cable system in Chennai. The company recently landed the SEA-ME-WE 6 cable in Mumbai on December 30, 2024. “The cable landing, both in Mumbai and...
Experts Intrigued By Inclusion Of Electoral Bonds In Income Tax Bill
NEW DELHI: Experts are intrigued by the new Income Tax Bill, 2025 retaining provisions related to electoral bonds, which were rendered unconstitutional by the Supreme Court last year, saying it could be because of legislative oversight or the government’s intention to bring it back in some other form. Electoral...
IPO-Bound NSDL Profit Jumps 30 Per Cent
NEW DELHI: National Securities Depository Limited (NSDL) on Monday reported a 30 per cent rise in its consolidated net profit to Rs 85.8 Crore for three months ended December 2024. The depository registered Rs 66.09 Crore profit in the year-ago period. The total income rose 16.2 per cent to...
Udaan Secures $75 Million In Funding Round
NEW DELHI: Online business-to-business platform Udaan has closed a Series G equity funding round of $75 Million, led by M and G Plc, according to people in the know. Company Co-Founder and CEO Vaibhav Gupta announced the round’s closure to employees on Monday, and mentioned that the company is...
No More PLIs In India’s Manufacturing Push
NEW DELHI: New production-linked incentive (PLI) schemes are set to be given a quiet burial, with many of the existing ones yet to produce satisfactory results. “The spirit of PLI has been lost. PLI is no longer the favoured child,” an official said on condition of anonymity. Instead, the...
Government Saves Rs 75,000 Crore In Interest Cost In 5 Years Through FY24
NEW DELHI: The Centre has managed to save around Rs 75,000 crore in interest cost due to its focus on transparency and prudent fiscal management between FY20 and FY24 which moderated yields of the government securities (G-secs). The weighted average yield of fresh borrowing of the Centre declined from...
Railways’ Freight Receipts Lag GDP, Revival Hopes Rest On DFC, High-End Trains
NEW DELHI: Indian Railways’ freight receipts lagged the rate of expansion of the nominal gross domestic product (GDP) in recent years, reflecting the lack of recovery in the operational parameters of the transporter. Freight receipts grew 4% in FY24 and 7% in FY25, and are projected to grow at...
