Business
Govt Likely To Provide Incentives For Manufacturing High-End Electric Vehicles
NEW DELHI: The Centre is likely to consider investments in research and development and in setting up dedicated assembly lines for electric vehicles at existing factories for incentivising carmakers under a scheme aimed at promoting local manufacturing of high-end EVs. People in the know said the government has agreed...
Domestic Composite Materials Industry To Touch USD 2.8 Billion By 2030: Report
NEW DELHI: Domestic composite materials industry is expected to grow at a 7.8 per cent annual growth rate to reach USD 2.8 billion by 2030, a report said. Composite materials or fibre-reinforced plastics (FRP) help in the circular economy as these are manufactured by combining multiple materials with different...
India Not Seeking Duty Concessions On Liquor, Cigarette In FTA With Oman
NEW DELHI: India is not seeking customs duty concessions on over 100 product categories such as liquor, and cigarette in the proposed free trade agreement (FTA), which is under negotiations between the two countries, sources said. They also said that though the FTA negotiations were concluded, Oman has sought...
Budget FY26: Government Could Cut Customs Duty On Raw Materials To Boost Manufacturing
NEW DELHI: The government could reduce customs duty on inputs used in manufacturing medical equipment, electronic goods and footwear industries in the forthcoming Budget to boost local manufacturing, according to tax experts. Deloitte India Partner, Indirect Tax, Harpreet Singh said key demands from the Customs side from the 2025-26...
EVs On Anvil For India, Part Of Multi-Tech Approach To Combat Emission: Toyota
Japanese auto major Toyota will launch electric vehicles in India, as part of its multi-technology approach towards combating carbon emission in the country, which EVs alone cannot tackle, according to top officials of the company’s Indian arm. The company feels that under the current circumstances, strong hybrid is the...
FPIs Take Out Rs 44,396 Crore From Equities In January Amid Weak Earnings Outlook, Rising Dollar
NEW DELHI: Foreign investors have pulled out Rs 44,396 crore from Indian equities this month, driven by strength of the dollar, rising bond yields in the US, and expectations of a weak earnings season. This came following an investment of Rs 15,446 crore in the month of December, data...
India’s Forex Reserves Drop By USD 8.714 Billion To USD 625.871 Billion
MUMBAI: India’s forex reserves dropped by USD 8.714 billion to USD 625.871 billion in the week ended January 10, the RBI said on Friday. Earlier, the overall kitty dropped by USD 5.693 billion to USD 634.585 billion in the week ended January 3, the Reserve Bank of India said....
Gold Jumps Rs 700 To Rs 82,000 Per 10 Gms
NEW DELHI: Rising for the third consecutive day, gold prices on Friday surged Rs 700 to trade near a record high at Rs 82,000 per 10 grams in the national capital due to persistent buying in the local markets, according to the All India Sarafa Association. The precious metal...
Rupee Ends One Paisa Down At 86.62 Against US Dollar
MUMBAI: The rupee traded in a tight range and settled 1 paisa lower at 86.62 (provisional) against the US dollar on Friday, as massive outflow of foreign funds and falling domestic equity markets dented investors’ sentiment. A firm American currency and higher crude oil prices also weighed on the...
India To Remain Fastest-Growing Large Economy In FY26, FY27: World Bank
NEW DELHI: The World Bank on Thursday kept its growth forecast for India unchanged at 6.7 per cent for FY26, maintaining that the country will remain the fastest-growing major economy for next two years. “The services sector is expected to enjoy sustained expansion, and manufacturing activity is anticipated to...
Govt Highlights New Initiatives Towards A Progressive, Self-Reliant India
NEW DELHI: Prime Minister Narendra Modi will distribute over 6.5 million property cards under the Centre’s SVAMITVA (Survey of Villages and Mapping with Improvised Technology in Village Areas) scheme to property owners in over 50,000 villages on January 18, the government said on Thursday. The step is one of...
Hydrocarbon Industry Seeks Cut In Cess On Oil Production, Regulatory Reforms
NEW DELHI: The county’s oil and gas industry has sought supportive regulatory reforms to compensate for losses incurred by downstream companies on the sale of auto fuels, and reducing the cess on crude oil production. “The oil marketing companies’ expect an adequate budgetary provision to compensate for losses incurred...
RBI Eases FEMA Norms For Cross-Border Transactions To Boost Falling Rupee
MUMBAI: With the rupee under intense pressure against the dollar, the Reserve Bank of India (RBI) has further liberalised the FEMA (foreign exchange management) rules to encourage its use to settle cross-border transactions. The rupee has lost over 3.5% to the greenback this fiscal so far, most of which...
Cabinet Approves Bill Making Repossession Easier For Aircraft Lessors
NEW DELHI: In a major development, the union cabinet on Thursday approved the Protection and Enforcement of Interests in Aircraft Objects Bill which will allow aircraft leasing companies to repossess aircraft in case of non-payment of lease rental by an airline. The bill will give primacy to the Cape...
NCLAT Admits Meta, Whatsapp Pleas Against CCI’s Rs 213-Crore Penalty
NEW DELHI: Appellate tribunal NCLAT on Thursday admitted the petitions filed by Meta Platforms and Whatsapp against an order passed by fair trade regulator CCI which imposed a penalty of Rs 213.14 crore for abuse of market dominance. After hearing the initial submissions from Meta and CCI (Competition Commission...
Contractors Responsible For Accidents Due To Bad Roads: Union Minister Gadkari
NEW DELHI: Union Road Transport and Highways Minister Nitin Gadkari on Thursday said faulty road construction should be made a non-bailable offence and road contractors and engineers should be held responsible for accidents and sent to prison. Addressing an event organised by industry body CII, Gadkari further said India...
India’s Economy To Grow At 6.4 Per Cent In Current Fiscal: FICCI
NEW DELHI: Industry body FICCI on Thursday lowered India’s growth projection for the current financial year to 6.4 per cent from 7 per cent estimated earlier. According to FICCI’s Economic Outlook Survey, the revised projection is in line with the broad expectations and reflect a notable slowdown vis-à-vis 8.2...
DB Corp Q3 Profit Down 4.6 Per Cent To Rs 118 Crore
NEW DELHI: Media house DB Corp Ltd on Thursday reported 4.65 per cent decline in consolidated net profit at Rs 118.21 crore for the third quarter ended December 2024. The company had posted a profit of Rs 123.97 crore for the October-December period a year ago, according to a...
