Business
Setting The Dial To 2030, Bharat 6G Alliance Seeks PLI Scheme Extension
NEW DELHI: The working group on device technology, sensors, and manufacturing systems, formed under the aegis of the Bharat 6G Alliance, has recommended extending the production-linked incentive (PLI) scheme for mobile devices until 2030. It has also suggested continuing the policy of disincentivising imported phones until the end of...
Growth Outlook Supported By Robust Domestic Engines: RBI
NEW DELHI: The aggregate demand is poised to shrug off the temporary slowdown in momentum in the second quarter of FY25, as festival demand picks up pace and consumer confidence improves, the Reserve Bank of India’s (RBI) October bulletin said on Monday. “In spite of geopolitical tensions, India’s growth...
BRICS Likely To Focus On Closer Energy Partnerships Among Members
NEW DELHI: The 16th BRICS Summit beginning Tuesday in Kazan, Russia, is expected to see more focus on creating a sharper energy policy for BRICS that ensures closer partnership among members in both energy security and energy transition, official sources said. The same is expected to be a part...
Private Banks See Elevated Slippages From Unsecured Loans In Q2FY25
MUMBAI: Most private banks reported significant slippages to non-performing assets (NPA) from unsecured loans like credit cards in the July-September period (Q2FY25). Axis Bank, Kotak Mahindra Bank, and RBL Bank, which have announced their Q2 earnings, reported increased slippages in these areas and expressed caution regarding their portfolios. In...
Real Estate Remains Most Preferred Asset Class For Investment: Report
MUMBAI: Real estate is still the most preferred asset class for investment for Indians, with apartments mainly being the chosen property type, according to a survey by the Federation of Indian Chambers of Commerce & Industry (FICCI) and Anarock. The survey revealed that 59 per cent of the 7,615...
Aadhaar Helped People Avail Government Benefits: Nobel Laureate Paul Romer
NEW DELHI: Nobel laureate Paul Romer on Monday said Aadhaar is the most important technological system in the world right now and it has laid the foundation of a platform to enable people to avail government benefits, including direct benefit transfer. Speaking at the NDTV World Summit, Romer said...
Indian Apparel Exporters To Post 9-11 Per Cent Revenue Growth
NEW DELHI: Indian apparel exporters are expected to register a 9-11 per cent revenue expansion in FY25 aided primarily by gradual liquidation of retail inventory in key end markets and a shift in global sourcing to India, ratings agency ICRA on Monday. The long-term prospects for Indian apparel exports...
PM MITRA, PLI Schemes To Attract Investment
NEW DELHI: India’s textiles sector is expected to attract investments to the tune of Rs 95,000 crore from the seven PM MITRA mega textile parks and the PLI scheme for man-made fabrics and technical textile products in the next 3-5 years, Textiles Secretary Rachna Shah said on Monday. Apart...
Emaar India To Invest Rs 2,000 Crore In Mumbai Region
NEW DELHI: UAE-based realty developer Emaar is planning to invest up to Rs 2,000 crore in Mumbai and its surrounding areas in the next six-seven years, a top official said on Monday. The group, known for projects like Burj Khalifa, has stayed away from the Mumbai Metropolitan Region (MMR)...
Automobile Exports From India Rise 14 Per Cent
NEW DELHI: Automobile exports from India in the first six months of the current fiscal year rose 14 per cent year-on-year, led by gains in shipments of passenger vehicles and two-wheelers. According to Siam data, the overall exports in the April-September period stood at 25,28,248 units, up 14 per...
Government May Halve Spectrum Lease Tenure To 10 Years
NEW DELHI: The department of telecommunications (DoT) is considering reducing the tenure of spectrum leased to telecom operators through auctions to 10 years from the current 20 years. This is being evaluated as the life cycle of technology is getting shorter and the value of spectrum getting eroded over...
Big Deals Continue To Elude Big Four IT Service Firms
BENGALURU/MUMBAI: The top four Indian IT services firms —TCS, Infosys, Wipro, and HCLTech — saw year-on-year decline in their total contract value (TCV) during the July-September period, due to the absence of mega deals and continued lumpiness in large deals. Further, geographically, revenue contribution from North America continued to...
Moderate Pick-Up In Exports Predicted For H2
NEW DELHI: India’s merchandise exports in the first half of FY25 rose at a modest rate of 1%, owing to slowdown in global demand, decline in oil prices, higher logistics costs for exporters, and of course, declining competitiveness in certain segments. The outlook for the second half is however...
Rate Cut At This Stage Could Be ‘Risky, Premature’: RBI Governor
MUMBAI: Reserve Bank of India (RBI) Governor Shaktikanta Das cautioned on Friday that cutting the policy rate at this juncture could be “very premature” and “risky” in light of an uptick in the latest headline inflation reading, something that could persist until the next print, as well. “… (A)...
Rajnath Singh Urges Private Defence Firms To Make India Technology Hub
NEW DELHI: Defence Minister Rajnath Singh called upon private defence firms on Friday to move forward from “participation” in defence production to “taking the lead.” He assured private companies of the government’s full support in making India an innovation and technology hub, and one of the strongest countries in...
Homebuying Decision May Be Impacted If Mortgage Rates Cross Nine Per Cent: FICCI-Anarock Survey
MUMBAI: Nearly 90 per cent of respondents feel that their decision to buy residential properties will be significantly impacted if mortgage rates exceed 9 per cent, according to a survey conducted by FICCI and Anarock. Industry body FICCI and real estate consultant Anarock on Friday released their joint ‘Homebuyer...
Finance Minister Urges Mexican Firms To Partner With Startups And Academia
NEW DELHI: Finance Minister Nirmala Sitharaman on Thursday urged Mexican firms to explore collaborations with startups as well as academic institutions and take advantage of India’s business-friendly policies. In her address at Tech Leaders Roundtable at the Chamber of Commerce, Guadalajara, Sitharaman emphasised on opportunities and responsibilities for similar...
Infrastructure Projects Help In Boosting Tourism, Creating Jobs: Nitin Gadkari
PANAJI: Infrastructure projects like new expressways and facilities at tourist sites are helping boost tourism and create more jobs, Union Road Transport and Highways Minister Nitin Gadkari said on Friday. In a message to a conference organised by the Federation of Hotel and Restaurant Associations of India (FHRAI) in...
