Business
NTPC Plans New Subsidiary For Nuclear Energy Business
State-owned NTPC is planning to set up a new subsidiary to undertake nuclear projects, its chairman and managing director Gurdeep Singh said on Thursday. Speaking at the company’s 48th annual general meeting, he said NTPC is on the verge of commencing work on the 2.8-gigawatt (GW) Mahi Banswara nuclear...
New Energy To Rival O2C Business; Rs 75,000 Crore Investment Plan On Track
MUMBAI: Reliance Industries has chalked major plans for its new energy business, which includes production of solar photovoltaic modules by year-end. With new units being set up for the renewable energy solutions, the company is also aiming to make Jamnagar the energy capital of the world. It is also...
Ambani Announces Jio AI Cloud Welcome Offer; Up To 100 GB Free Cloud Storage For Jio Users
NEW DELHI: Stepping up the company’s AI and cloud play, Reliance Industries Chairman Mukesh Ambani on Thursday announced that Jio users will get up to 100 GB of free cloud storage to securely store and access their photos, videos, documents, digital content and data. Addressing the 47th AGM of...
Industry Came Forward For Rules On Small, Medium REITs: SEBI Chief
MUMBAI: Sebi chief Madhabi Puri Buch on Thursday said there has been a positive response to small and medium REITs (real estate investment trusts) and industry players came forward for regulations on such entities. Recently, the Securities and Exchange Board of India (Sebi) implemented regulations for small and medium...
Paytm Shares Jump 5 Per Cent On Receiving Govt’s Nod For Investment In Paytm Payments Services
NEW DELHI: Shares of fintech firm One97 Communications — the owner of Paytm brand — jumped 5 per cent on Thursday morning after the company received the government’s approval for downstream investment in wholly-owned subsidiary Paytm Payments Services Ltd. The stock climbed 5 per cent to Rs 565 on...
Indian Economy Remains Resilient Amid Global Uncertainties
NEW DELHI: Amid global geo-political uncertainties, the Indian economy has remained resilient but the outlook seems softer due to moderation in a couple of high-frequency indicators, according to the Monthly Economic Review for August. The review was released by the National Council of Applied Economic Research (NCAER). The report...
Cabinet Approves 12 Industrial Smart Cities Worth Rs 28,602 Crore
NEW DELHI: The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has greenlit the development of 12 industrial smart cities across six major industrial corridors in 10 states, with an estimated investment of Rs 28,602 crore. These projects are designed to attract substantial investments, with...
India Likely To Plan Raising Vegetable Oils Import Taxes, Govt Sources Say
MUMBAI: India is considering an increase in import taxes on vegetable oils to help protect farmers reeling from lower oilseed prices, two government sources said on Wednesday. The move, which is likely to be announced in the coming weeks, could dampen demand and reduce overseas purchases of palm oil,...
SEBI Proposes Overhaul Of Investment Banking Norms Amid Boom In ECM
MUMBAI: The Securities and Exchange Board of India (Sebi) has proposed an overhaul of investment banking regulations amid a boom in the equity capital market (ECM). In a consultation paper floated on Wednesday, the regulator has proposed a 10 time-hike in the net worth and provided more clarity on...
GCCs Offering Up To 20 Per Cent Higher Salaries Than It Services: Report
MUMBAI: Global Capability Centres (GCCs) in India are offering up to 20 per cent higher salaries as compared with the IT services, especially at entry and mid levels, a report said on Tuesday. According to the report by TeamLease Digital, India has over 1,600 GCCs employing over 1.66 million...
Shipping Ministry Approves Wage Structure Revision For Workers Of Major Ports
NEW DELHI: The Ministry of Ports, Shipping and Waterways has approved wage structure revision for workers at major ports, an official statement said on Wednesday. According to the statement, a memorandum of understanding (MoU) was signed between the Bipartite Wage Negotiation Committee (BWNC) and the Indian Port Association (IPA),...
GAIL Says LNG Under New Pacts To Flow From 2026, Gets One More Ship
NEW DELHI: State-owned gas utility GAIL (India) Ltd will start importing LNG under two new contracts from 2026 and has added one more ship to transport the fuel, its Chairman Sandeep Kumar Gupta said on Wednesday. The company had in January this year signed back-to-back deals to import liquefied...
Govt To Soon Launch Scheme To Train Adolescent Girls For Non-Traditional Jobs
NEW DELHI: The government will soon launch a scheme to train 14-18 years old girls in non-traditional job roles, a move aimed at increasing women’s participation in the labour force, a top official said on Wednesday. The pilot of the scheme will be launched in the next 2-3 weeks,...
Family Offices AUM Growth Projected At 14 Per Cent Over Three Years: Report
NEW DELHI: Family Offices in India projected for 14 per cent growth in Asset Under Management (AUM) and a 5 per cent increase in alternative investments over the next 3 years, a report said. AUM for mid to large-sized family offices in India will grow at a Compound Annual...
UPI Transaction Volume Expected To Rise To 439 Billion By FY29: PwC India Report
NEW DELHI: The total transaction volume on UPI is expected to increase to 439 billion by 2028-29 from about 131 billion in the last financial year and account for 91 per cent of overall retail digital payments, said a PwC India Report. The report titled ‘The Indian Payments Handbook...
India’s Bioeconomy To Hit $300 Billion By 2030 Under New BioE3 Policy
New Delhi: India’s bioeconomy has seen exponential growth, ballooning from $10 billion in 2014 to a staggering $130 billion in 2024, with expectations to triple to $300 billion by 2030. This surge is largely attributed to the recently unveiled BioE3 (Biotechnology for Economy, Employment, and Environment) Policy, aimed at...
India-GCC Trade Hits $162 Billion, Growing Ties In Energy, Defence, And Tech
New Delhi: The Gulf Cooperation Council (GCC) now contributes 15% to India’s total trade, with bilateral trade between India and the region reaching USD 162 billion last year, said Aseem R Mahajan, Joint Secretary – Gulf, Ministry of External Affairs. Addressing the ‘India MENA Business Dialogue: Bridging Economics, Fostering...
OPEC+ Output Cut May Push Indian Refiners To Crude Oil Supply From Americas: US EIA
NEW DELHI: Rising consumption of liquid fuels in India, which is expected to touch 6.6 million barrels per day (mb/d) by 2028, and declining crude oil exports from West Asia due to production cuts by the Organization of the Petroleum Exporting Countries and allies (OPEC+) could force Indian refiners...
