'Everyone says never waste a crisis.' 'When we went into Covid and we were in total lockdown, we were at work.' 'The planes were not flying and we wondered what to do.' 'We looked at each of our performance metrics -- what are customers complaining about, how do employees feel, how do investors feel?'
This will cost the government Rs 3.1 trillion, about 10 per cent of its annual expenditure, and higher than any other spending item in its Budget.
Continuing their massive selling spree for the ninth consecutive month, foreign investors dumped Indian shares worth Rs 50,203 crore in June -- the highest net outflow in over two years -- amid aggressive rate hike by the US Federal Reserve, elevated inflation and relatively higher valuation of domestic equities. Foreign portfolio investors (FPIs) have now pulled out around Rs 2.2 lakh crore from domestic equities in the first six months of 2022 -- the highest-ever net withdrawal by them. Before that, FPIs withdrew Rs 52,987 crore in the entire 2008, data with depositories showed.
There seems to be a desire for opacity when it comes to confronting China, points out Aakar Patel.
The Indian economy will suffer lasting damage from the coronavirus crisis and after an initial strong rebound in FY22 (fiscal year ending March 2022) growth will slow to around 6.5 per cent a year over FY23-FY26, Fitch Ratings said on Thursday. "A combination of supply-side scarring and demand-side constraints - such as the weak state of the financial sector - will keep the level of GDP well below its pre-pandemic path," it said in commentary on the Indian economy. Fitch said India's coronavirus-induced recession has been among the most severe in the world, amid a stringent lockdown and limited direct fiscal support.
That AAP managed a sizeable vote share in Gujarat is creditable. The BJP can no longer ignore AAP's growing presence in its strongest bastion, explains Ramesh Menon, long-time observer of Gujarat politics.
Nowadays, our politics is habituated to sitting on a high pedestal, hobnobbing with world leaders, generating impressions of a superpower and returning to earth for the purpose of winning elections. In contrast, the yatra never left earth, observes Shyam G Menon.
Total income of Wipro was almost flat at Rs 15,571.4 crore at the end of the first quarter of 2020-21 compared to Rs 15,566.6 crore in the corresponding quarter of the fiscal year 2019-20.
India might be heading towards a "serious livelihood crisis" as the situation seems to be worse this time for the working class amid the COVID crisis and local restrictions by states already add up to something close to a nationwide lockdown, according to noted economist Jean Dreze. In an interview to PTI, he also said the government's target to make India a $5 trillion economy by 2024-25 was never a "feasible target" and was just to pander to the "super-power ambitions" of the Indian elite. About the impact of the second wave of COVID on the Indian economy, the eminent economist said the situation today is not very different from what it was around this time last year as far as working people are concerned.
On a cloudy Monday this month, Mohammed Irshad flew from Kochi to Gurugram to attend an exclusive investor networking event. Among a handful of founders selected for the event, Irshad was to pitch his peer-to-peer learning start-up Notespaedia for funding in front of top venture capital investors such as AngelBay, Elevation Capital, and Inflection Point Ventures. He failed to woo them, but the feisty entrepreneur was determined to continue his hunt.
The surge in wheat export from India owing to the Ukraine crisis has once again demonstrated how farmers in states that have flexible marketing frameworks and low taxes benefit more from an emerging situation. The bulk of the wheat exported from India, trade and industry sources say, is being sourced at rates significantly higher than the state-mandated price of Rs 2,015 per quintal in Madhya Pradesh (MP), Uttar Pradesh (UP), and Gujarat - states which have low mandi taxes compared to Punjab and Haryana. This is not only benefiting farmers there but could also lead to significant savings for the states in procurement costs in the months to come.
Several Indian students stuck in eastern parts of Ukraine, which is largely affected by the Russian military offensive, are facing a grim situation as it is difficult for them to travel by road to reach the western borders and move out of the war-hit country, one of the students returned to India said.
Only six per cent of the respondents expected no change in recruitment activity.
Major incidents have previously been called for the Grenfell Tower fire in June 2017 and the terrorist attacks in the UK capital. A major incident is defined as an event or situation with a range of serious consequences which requires special arrangements to be implemented by one or more emergency responder agency.
Equity mutual funds attracted an all-time high net inflow of Rs 28,463 crore in March, on continued interest by retail and HNI investors, who used market correction as a good buying opportunity.
"Excess deaths" captures not only confirmed deaths, but also COVID-19 deaths that were not correctly diagnosed and reported as well as deaths attributable to the overall crisis conditions.
Defence Secretary Lloyd Austin on Thursday directed that the aircraft carrier USS Ronald Reagan and the ships in her strike group will remain on station in the general area to monitor the situation.
India always faces a Hobson's choice as far as feeding coal-fired generators goes - even if the government is reluctant to admit it. The country cannot do without shipping in the world's most polluting fuel from overseas. And it will continue to do so unless it decides to reduce demand by forcing citizens, farmers and businesses to live without electricity for part of the day, or use diesel generators to fire facilities.
There are multiple near-term worries for the stock of India's largest listed consumer company, Hindustan Unilever (HUL). While inflationary pressures will weigh on its profitability, demand pressures - especially in the rural market - are expected to hit the firm's revenues. This is why brokerages have cut the earnings estimates for financial year 2022-23 (FY23) by 7-10 per cent.
Motilal Oswal Financial Services has posted a net profit of Rs 20.4 crore, a sharp drop of 62 per cent compared to the corresponding period of the previous year. The fall is attributed to the tough market conditions. Kochi-based Geojit Financial Services has posted profit after tax of Rs 38.63 crore after the company received Rs 40 crore as compensation from BNP Paribas for discontinuing the commodity business.
One hundred and forty nine new individuals joined the rich list club of 1,103 Indians across 122 cities who cumulatively accumulated a wealth of Rs 100 trillion. Bengaluru -based Kaivalya Vohra, 19, of grocery delivery application Zepto is the youngest self-made and the youngest rich individual, according to IIFL Wealth Hurun India Rich List 2022. The report found 1,103 Indians with a networth of Rs 1,000 crore each - an increase of 62 per cent over five years. There are 221 billionaires (Rs 100 crore networth) in India on the 2022 list - down 16 compared with last year, while 13 people born in the 1990s made it to the list, all self-made.
apanese casual wear designer Uniqlo has signed the 36-year-old Swiss as a global brand ambassador in a deal reported to be worth around $30 million a year.
The Arvind Kejriwal-led AAP is trying to make inroads into BJP-ruled Gujarat where the assembly polls are due later this year.
'Akhilesh did politics like Rabi and Kharif crop which come once a year. Politics is not seasonal, you have to harvest your field all through the year and only then you get a good crop' Political analyst lists 12 reasons why Akhilesh Yadav lost the UP elections.
It's hard to say because of the winner-take-all nature of new platform and network businesses, but Reliance has not been an efficient user of capital, and Adani numbers are varied, observes T N Ninan.
Counted as a judge who enriched the 'verdict docket' of the apex court, Justice Chandrachud is viewed as sharp, articulate and forward looking.
Human Development -- a measure of a nation's health, education, and average income -- has declined for two years in a row.
The brokerage said that the reform measures announced by the government will help growth only over the medium term and are not expected to have any benefit in the near-term.
Profitability and cash reserves have halved since the global financial crisis.
Nearly 25 million jobs could be lost worldwide due to the coronavirus pandemic, but an internationally coordinated policy response can help lower the impact on global unemployment, according to a UN agency. In its preliminary assessment report titled 'COVID-19 and world of work: Impacts and responses', the International Labour Organization (ILO) calls for urgent, large-scale and coordinated measures across three pillars -- protecting workers in the workplace, stimulating the economy and employment, and supporting jobs and incomes.
The IMF on Tuesday projected an impressive 12.5 per cent growth rate for India in 2021, stronger than that of China, the only major economy to have a positive growth rate last year during the COVID-19 pandemic. The Washington-based global financial institution, in its annual World Economic Outlook ahead of the annual Spring meeting with the World Bank, said the Indian economy is expected to grow by 6.9 per cent in 2022. Notably in 2020, India's economy contracted by a record eight per cent, the International Monetary Fund (IMF) said as it projected an impressive 12.5 per cent growth rate for the country in 2021.
Billionaire Mukesh Ambani's Reliance Industries has invested euro 25 million in German solar wafer maker NexWafe GmbH to use the firm's technology to set up giga-scale wafer manufacturing facilities in India. "NexWafe GmbH (NexWafe) today announced the induction of Reliance New Energy Solar Limited (RNESL), a wholly-owned subsidiary of Reliance Industries Limited (Reliance) as a strategic lead investor in its euro 39 million ($45 million) Series C financing round with an investment of euro 25 million ($29 million) in phase one," the Indian firm said in a late Tuesday evening statement. The investment by Reliance will accelerate product and technology development for NexWafe, including the completion of the commercial development of NexWafe's solar photovoltaic products on prototype lines in Freiburg.
'When people feel they are trusted, they invariably do their best, both as individuals and as a collective team.'
At ATMs, as a step to avoid getting Rs 2,000 notes, people are withdrawing Rs 1,900 in Rs 100 notes and then putting another request for the balance Rs 600, so that they remain within the limit of Rs 2,500 per day of withdrawal.
During 2019-20, the number of net new subscribers rose to 78.58 lakh as compared to 61.12 lakh in the preceding fiscal.
'The outlook for private investment, which has been such a weak link for India for so long, remains challenging.'
Various indicators make it amply clear that there are grave challenges facing the new government of Chief Minister Nitish Kumar, reports Indivjal Dhasmana.
Many Japanese and medical experts oppose staging the 2020 Games as planned from July 23, after already being postponed a year, as their nation suffers a fourth infection wave.
'The top 11 billionaires in India added so much to their wealth during the pandemic that it would have sustained MNREGA for 10 years or the ministry of health for 10 years.'
Half of the world's youth population are subject to anxiety or depression-causing circumstances, discovers ILO survey.
