'Indian startups have raised $3.5 billion in funding in the first half of 2015'.
Udaan - India's largest business-to-business (B2B) e-commerce company - has laid off about 180 employees, or 4-5 per cent of its workforce of 4,000, in a move to drive cost efficiency, revealed sources. They said the layoffs have happened across various department functions. The layoffs have happened at a time when the Bengaluru-based firm is trying to turn into a publicly listed entity in 18-24 months.
Quick commerce startups hope to race towards better days. Can they crack the execution code?
IBS, one of the leading business schools in India, opens admissions to the PhD programme at its Hyderabad campus.
It is time to reset expectations as government will move with alacrity on social policy, not on economic reforms.
The US is taking several measures, such as increasing the number of staffers, to further facilitate the issuance of business visas in India, a senior US government official said on Tuesday. "We have also made significant progress by issuing more H1B and L visas in 2022 than we did even in 2019 before the pandemic. "This is a significant improvement. We are in the process of raising our staff," Arun Venkataraman, US Assistant Secretary of Commerce for global markets, said.
Trump said if elected the US under his administration would pursue right away to bring back jobs.
India will unveil its much-awaited new Foreign Trade Policy 2023-28 on Friday, with a view to boost exports amid slowing global trade. Commerce and Industry Minister Piyush Goyal will announce the foreign trade policy, according to the ministry. The current foreign trade policy (2015-20) is in force till March 31, 2022.
Internet shutdowns by law enforcement agencies like the one in Manipur and Punjab cost $1.9 billion to the Indian economy in the first half of 2023, a report said on Thursday. The shutdowns also led to a loss of nearly $118 million in foreign investment and triggered over 21,000 job losses, the global non-profit Internet Society said in its report 'Netloss'. The non-profit arrived at the financial impact of the shutdown going beyond the loss of output and included factors like change in the unemployment rate, Foreign Direct Investment (FDI) lost, risks of future shutdowns, population in the working age etc.
The Indian Navy has deployed task groups comprising frontline destroyers and frigates in the central and north Arabian Sea and augmented its force levels in the region to undertake maritime security operations in view of recent attacks on commercial vessels in key shipping lanes.
'The untimely demise of Shri Cyrus Mistry is shocking. He was a promising business leader who believed in India's economic prowess,' Prime Minister Modi said in a tweet.
"India and Indonesia can do much more in the changing world," Sharma said at a reception hosted by the India-Indonesian Chamber of Commerce last night.
The net leasing of Grade-A commercial office space in India will stagnate this financial year at 32-34 million square feet, with global uncertainties brewing caution among key tenant categories, according to the latest Crisil Ratings report. Major seven cities in India - Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Pune - had Grade-A office space with an operational stock of around 705 million square feet as of March 2023. India's commercial office space is dominated by technology companies, with information technology (IT) and IT-enabled services (ITeS) companies occupying 42-45 per cent of the operational stock.
There is merit in considering whether merchandise exports can be facilitated by halting if not reversing the rupee's appreciation, says T N Ninan.
The world seems to have caught severe pneumonia, or worse, as China had flu.
RSS-linked weekly Organiser has accused US e-commerce giant Amazon of financing a "Christian conversion module" in India's northeastern states and being involved in suspected money laundering.
The Appointments Committee of Cabinet has named Ravneet Kaur, a Punjab cadre IAS officer of 1988 batch, as chairperson of the Competition Commission of India (CCI). Kaur will hold the post for five years or until attaining the age of 65. She is the second woman to serve in an 'economic regulator' role after Madhabi Puri Buch, who was appointed chairperson of the Securities and Exchange Board of India last year and the first woman to head the country's chief national competition regulator.
The government on Friday came out with Foreign Trade Policy (FTP) 2023 which seeks to boost the country's exports to $2 trillion by 2030 by shifting from incentives to remission and entitlement based regime. Unlike the practice of announcing 5-year FTP, the latest policy has no end date and will be updated as and when needed, said Director General of Foreign Trade (DGFT) Santosh Sarangi while briefing media about FTP 2023. Earlier, Commerce and Industry Minister Piyush Goyal unveiled FTP 2023 which will come into effect from April 1, 2023.
The Centre will invest around Rs 200 crore over five years for the exploration and development of these mines.
Exports declined for the fourth-consecutive month by 10.3 per cent year-on-year to $34.98 billion in May, while the trade deficit widened to a five-month high of $22.12 billion. According to the data released by the commerce ministry on Thursday, key export sectors recording negative growth include petroleum products, gems and jewellery, engineering goods, ready-made garments of all textiles and chemicals. Imports also declined 6.6 per cent, six-month in a row, to $57.1 billion against $61.13 billion in the same month last year, the data showed.
Cautioning that India's status of 'significant global player' may vanish if opportunities are not grasped, Commerce Minister Kamal Nath on Friday outlined a three-pronged strategy, including designing specific instruments to turn the country into a w
Meanwhile, US President Joe Biden condemned Russia's annexation of Ukrainian territory on Friday.
rediffGURU Rohit Gupta, co-founder and COO of College Vidya, offers expert advice on career programmes in India.
'As part of our D33 strategy, the plan is to establish 30 unicorns in Dubai within the next 10 years.'
India's exports contracted by 22 per cent, the steepest decline in the last three years, to $32.97 billion in June on account of global demand slowdown, especially in the Western markets like the US and Europe. According to the data of the commerce ministry, the trade deficit in June stood at $20.3 billion against $22.07 billion in the same month last year due to a fall in exports and imports. The inbound shipments during the month under review declined by a steep 17.48 per cent to $53.10 billion.
'You peel one layer, then another layer, then another, but in the end, you will see that there is no onion inside.' 'This package has been packaged well, but there is nothing much inside the package!'
In putting the country's economy back on the rails, it is best that Narendra Modi and Arun Jaitley draw on grass-roots feedback and their own practical sense and native wisdom without allowing themselves to be sucked into the quicksand of economic punditry, says B S Raghavan.
'We will see a lot of investments from the private sector.' 'As long as we are not impacted by some global events, I think we will be in a strong place.'
Geopolitical headwinds leading to lower demand from export markets, coupled with lower domestic buying, have dragged the auction average of Darjeeling tea to its lowest level since 2015. Data from Calcutta Tea Traders Association (CTTA) shows that the average price of Darjeeling tea at Kolkata auctions for January-December 2023 was Rs 319.74 per kg. The last time it dipped below this level was in 2015 at Rs 285.71 per kg.
India on Wednesday asked for enhanced economic ties with Central and East European countries.
The talks for a free trade agreement (FTA) between India and Canada may have taken a pause but will resume once the political row between the two countries is resolved as the pact has economic benefits for both the nations, trade experts and exporters said on Friday. However, they said that India may not hurry for the trade agreement as 60 per cent of New Delhi's exports are already entering Canada at zero duty. Earlier this month, India and Canada paused the negotiations for the agreement due to political reasons.
You can apply for online MBAs that won't require CAT scores, suggests rediffGURU Mayank Kumar.
There were concerns in Sri Lanka about the huge trade imbalance.
Wholesale price inflation remained in the negative territory for the fourth month in a row in July at (-)1.36 per cent, even though prices of food items, especially vegetables, skyrocketed. The inflation, however, has inched up from (-)4.12 per cent recorded in June fuelled by 62.12 per cent rise in vegetable prices. In July last year, wholesale price index (WPI) was 14.07 per cent.
There was a discussion on trade matters, market access, regulatory issues and barriers. Both leaders underlined the importance of free and fair trade
'India should respect Maldivian nationalism and their desire to be not over-dependent on India.' 'India should not behave like a big brother towards Maldives as many times, we tend to behave like that.'
E-commerce company Amazon plans to lay off around 1,000 employees in India as part of its biggest retrenchment exercise across the globe, according to sources. The company has announced the elimination of over 18,000 roles across the globe due to uncertain economic conditions. "The decision to eliminate 18,000 job roles across the globe will impact about 1,000 employees in India," the source said.
Prime Minister Narendra Modi's state visit to the US is expected to see discussion on India's possible entry into a US-led global alliance on critical minerals, officials told Business Standard. In June last year, the US, the European Union, and other G7 partners launched the Minerals Security Partnership to ensure that China did not further strengthen its grip on supplies of critical minerals the world over. Various ministries, including the Ministry of Finance, have communicated to the Ministry of External Affairs to explore the possibility of India joining the partnership, officials said.
In a major development, India and the US have agreed to end six trade disputes at the WTO through mutually agreed solutions, while New Delhi will remove retaliatory customs duties on certain American products such as almonds, walnuts, and apples.
