Business
Economic Survey Bats For More FDI From China To Tap Export Market
NEW DELHI/CHENNAI: It is termed the most talked-about “frenemyship” in Asia or a not-so-successful “Hindi Chini Bhai Bhai” bonhomie. In the age of the China Plus One, the Economic Survey aims to redraw the relationship with the neighbouring superpower to India’s advantage. While the neighbour is mentioned 132 times...
Need To Create 8 Million Jobs A Year Until 2036, Says Economic Survey
NEW DELHI: The Economic Survey for 2023-24, tabled in Parliament on Monday, asked the private sector to contribute to the creation of approximately eight million jobs annually until 2036. It also cautioned companies against being overly reliant on capital-intensive technologies like artificial intelligence (AI) to reduce employment. Authored by...
Economic Survey Pegs India’s GDP Growth Rate At 6.5-7% For FY25
NEW DELHI: India’s Gross Domestic Product (GDP) is likely to grow at 6.5% to 7% in the current fiscal year amid global challenges which may impact exports, said Economic Survey 2023-24 tabled in Parliament by Union Finance Minister Nirmala Sitharaman on Monday. The anticipated growth rate for 2024-25 is...
SEBI Ready With Speed Gun On IPO Street
MUMBAI: As companies flood the primary market, the Securities and Exchange Board of India (Sebi) has intensified surveillance of initial public offerings (IPOs), slowing approvals, as it looks to safeguard investors. The average approval time for IPOs in calendar year 2024 has lengthened to 125 days, the most in...
Cut Import Duty On Smartphone Components In Budget, Govt Told
NEW DELHI: Economic think tank GTRI on Monday urged the Government to cut import duty on smartphone components in the Budget as it could lead to an increase in superficial assembly plants that rely heavily on imported parts. Finance Minister Nirmala Sitharaman will present the Union Budget for 2024-25...
AI Casts Huge Pall Of Uncertainty Over Impact On Workers Across Skill Levels: Economic Survey
NEW DELHI: The Economic Survey on Monday said the advent of Artificial Intelligence (AI) casts a “huge pall of uncertainty” with regard to impact on workers across all skill levels. The Economic Survey 2023-24 tabled in Parliament predicted that the new-age technology, while turbocharging productivity, has the potential to...
Economic Survey Slams Energy Guzzling Developed World
NEW DELHI: On the one hand, developing nations are being forcefully nudged to sign up for climate commitments that they are not ready for, on the other hand, the developed world is in a mad ‘Scramble for Africa’ kind of rush to usher in the latest and the most...
SEBI Returns Draft IPO Documents Of Recruitment Solution Provider Crizac
NEW DELHI: Sebi has returned the draft documents of student recruitment solution provider Crizac Ltd, which was looking to float Rs 1,000 crore Initial Public Offering (IPO), an update with the markets regulator showed on Monday. The move might delay the Kolkata-based company’s initial share-sale. The proposed IPO was...
CRR Cut To Help Banks Facing Low Deposit Growth: SBI MD
MUMBAI: Lowering the cash deposit ratio or the proportion of deposits which banks are mandatorily required to park with the RBI will help the lenders facing low deposit growth, SBI Managing Director Ashwini Kumar Tewari said on Monday. Conversations for such a cut are on, he told reporters here,...
Job Creation, Other Booster Shots Likely For Fitter Economy
NEW DELHI: The first budget of the new government will seek to energise the economy with focused interventions in job creation, rural areas, micro, small and medium enterprises (MSMEs) and technology, people familiar with the deliberations told ET. However, it will likely not deviate from the fiscal consolidation plan,...
India Likely To Have Highest Per-Capita Income Growth, Says Report
NEW DELHI: India is likely to have the highest per-capita income growth in the world at 5.4 per cent per annum during 2024-33, allowing it and other emerging economies to drive global consumption of agricultural and fisheries products in the next decade, according to a recent report by the...
High Construction To Get A Boost With BOT Coming Back In Vogue
NEW DELHI: Private risk capital, which has stayed out of the highway sector since 2014, is finally returning to the sector. This follows the government’s efforts to raise the comfort level of investors in the latest set of amendments to the model concession agreement (MCA). The changes in MCA...
RBI Steps Up Measures To Drain Out Excess Liquidity
MUMBAI: The Reserve Bank of India (RBI) has sought to prevent potentially inflation-stoking banking system liquidity enhancement through deft currency and bond market interventions, with foreign inflows into local sovereign debt quickening after the country’s inclusion in a globally tracked JP Morgan index. With rates on annualised dollar-rupee forward...
Early Birds Report Muted Profit Growth For April-June
The early trend in the first-quarter results season showed a sustained double-digit growth in aggregate revenue while a higher year-ago base and subdued performance by Reliance Industries (RIL), the country’s largest company by revenue and market cap, pulled down the net profit growth to a single digit. Revenue for...
GCPL Invests Over Rs 1,000 Crore On Advertising In FY24
NEW DELHI: FMCG major Godrej Consumer’s advertising investment shot up by 47 per cent to Rs 1,011 crore in FY24 in the domestic market, even as it has reduced SKUs by around 30 per cent through a rationalisation process. Godrej Consumer Products Ltd (GCPL), which aims for double-digit volume...
Affordable Housing, Infra Growth, Boost To Manufacturing Likely To Be Budget Focus: Assocham
NEW DELHI: Greater focus on green mobility, affordable housing, holistic infrastructure development and a big push to manufacturing, along with boosting consumption demand, are expected to find prominence in the forthcoming Union Budget, said an Assocham-Primus paper. Finance Minister Nirmala Sitharaman will present the Union Budget on Tuesday in...
Airbus Shortlists 8 Sites For H125 Helicopter Final Assembly Line In India
MARIGNANE (FRANCE): European major Airbus has shortlisted eight sites in India for setting up its final assembly line for H125 helicopters and the ground-breaking ceremony for the facility is expected later this year. The facility, which will be the fourth Final Assembly Line (FAL) for the single engine H125,...
AMD Leverages AI To Shape Next-Gen Computing Experience
LOS ANGELES: Chip maker AMD is looking to position itself as a key player in AI-enhanced personal computers (AIPCs) through strategic innovations on the hardware side to cater to powerful new-age applications, a top company official said. It is taking a holistic approach by integrating technology across CPUs, GPUs,...
