Paytm will focus on its core business of payments and cross-selling financial services as it works to achieve "profitability soon", said Vijay Shekhar Sharma, founder and chief executive officer of the fintech, on Thursday. "The past six months have taught us many lessons, giving us the opportunity to thoroughly examine our business processes, compliance, and the way we operate from the inside out.
'One Chinese interlocutor said India should realise that "China can do without India, but India could not do without China", pointing to its inability to do without Chinese intermediates and components,' former foreign secretary Shyam Saran discovers on a visit to China.
From the Sensex firms, Bajaj Finance, Infosys, Hindustan Unilever, ICICI Bank, HCL Tech, UltraTech Cement, Bajaj Finserv, State Bank of India, Tata Consultancy Services, Reliance Industries, Axis Bank and Larsen & Toubro were among the major gainers. However, Trent, Tata Steel, Tech Mahindra and Maruti were among the laggards.
India and China have announced a series of measures aimed at improving their relationship, including maintaining peace along the border, reopening border trade, and resuming direct flights.
Former Army chief Gen M M Naravane (retd) said India-China ties are "on the mend" with initiatives announced at political, diplomatic and military levels. He expressed hope that China will reciprocate India's goodwill as they move forward in discussing the boundary question.
India's foreign direct investment policy allows foreign investors to pick up 49 per cent stake in domestic airlines, but foreign airlines are not permitted.
Foreign investors are losing faith in Vietnam, which was sought-after destination just three-four years back. Due to slow reforms and rising corruption the growth in foreign investments has turned negative.
The Economic Survey 2011-12 on Thursday made a case for allowing foreign airlines to invest in domestic carriers, a suggestion that will enable the ailing sector to access overseas capital and expertise.
At a recent meeting of the high level coordination committee of regulators on capital markets, the RBI clarified that no approvals for VCFs will be issued since the Finance Ministry is reviewing the policy for investment in the realty sector for both foreign direct investment (FDI) and portfolio investments by foreign institutional investors.
In a written interview with Chinese media based in Delhi, Singh said India faces an unsustainable imbalance in its trade with China and one of the ways of overcoming the trade deficit is for India to attract larger flows of foreign direct investment from China.
India and the US have decided to hold sector-specific talks in the coming weeks to finalise the structure of the proposed bilateral trade agreement (BTA), the government said on Saturday. The engagement between the two countries came in the backdrop of the USA's threat to impose reciprocal tariffs on its key trading partners, including India, on April 2.
Without engaging with Pakistan, South Asian economic integration would not be possible
The decision is likely to bring in at least Rs 5 lakh crore of fresh investments into the sector over five years by improving connectivity and competition
India and the US will sit together in the next couple of weeks to decide on the nature of the proposed trade agreement and finalise its broad contours, a senior official said on Monday. During the recent visit of Prime Minister Narendra Modi to Washington, India and the US announced to more than double the two-way commerce to $500 billion by 2030 and negotiate the first tranche of a mutually beneficial, multi-sector bilateral trade agreement (BTA) by fall of 2025.
To select the right platform, get the opinions of a few existing users or browse online for feedback. Select a platform that offers a seamless experience. Check that the platform you are going with is a regulated entity, suggests Sanjay Kumar Singh.
Move to make investing in sectors with FDI cap easier.
The department of telecommunications, in the draft universal licence guidelines to be signed with telcos which recently won spectrum in the 1800 MHz auction of November, has included a new clause for foreign companies.
'India has intentionally taken advantage of the war in Ukraine to dramatically increase its purchases of Russian crude, when there are roughly 40 major crude providers that could satisfy Indian demand.'
'BSE has facilitated nearly Rs 35 trillion in capital raising across multiple segments.'
An Enforcement Directorate (ED) investigation into alleged foreign exchange law violations by edtech major Byju's and its CEO and co-founder Raveendran Bjyu is in the final stages of completion following which a show cause notice could be served to them, official sources said Tuesday. The central probe agency had in April searched two business and one residential premises, including that of the registered company of Byju's -- Think & Learn Pvt. Ltd. -- under the provisions of the Foreign Exchange Management Act (FEMA).
The interplay between domestic and foreign capital will shape India's equity markets.
FDI in April, 2007-08 was $1.64 billion which was less than half of the figures in April this fiscal. "I want to dispel fears of any economic slowdown and investment drying up," Commerce and Industry Minister Kamal Nath told reporters in New Delhi on Thursday.
India's craft chocolate makers are changing the market by using local cacao, creating bold new flavours, making chocolate both a luxury and a story.
RBI chief Raghuram Rajan said Asia's third-largest economy is being hampered by a drop in public and private investments.
The average rate of rupee depreciation vis--vis the dollar over the last 20 years is around 3.50 per cent per annum
Government has rejected a recommendation for a review of the present policy of not allowing foreign airlines to pick stake in domestic carriers, Lok Sabha was informed on Thursday.\n\n
India recorded a current account surplus of $5.7 billion or 0.6 per cent of GDP in the March quarter, the Reserve Bank of India said on Monday. This is the first time in ten quarters that the crucial metric of the country's external strength has turned into surplus mode. In the year-ago period, the current account deficit stood at $1.3 billion or 0.2 per cent of GDP, and the same was $8.7 billion or 1 per cent of GDP in the preceding quarter ending December 2023.
'Right now, silver -- and especially platinum -- are very cheap compared to gold. If I were buying today, I would choose platinum.'
The Cabinet on Thursday approved the Foreign Educational Institutions (Regulation of Entry and Operations, Maintenance of Quality and Prevention of Commercialisation) Bill, 2007.
The government on Wednesday allowed foreign investment in Indian print media, though within the 26 per cent FDI cap, and threw the sector open for facsimile editions of foreign newspapers, apart from hiking syndication levels to 20 per cent.
The Cabinet meeting and the holy dip comes on a day that marks the first anniversary of the consecration ceremony of the Ram temple in Ayodhya.
New Delhi, while opting not to retaliate yet to the American tariffs, has in recent weeks sought to reinforce its friendship with Moscow, and recalibrate its ties with Beijing rather than surrender to Washington's diktats.
The FDI policy is unviable for them in its current form.
Non Resident Indians have invested Rs 9,650.64 crore (Rs 96.50 billion) from August 1991 to December 2005, constituting 6.30 per cent of the total Foreign Direct Investment inflow, Rajya Sabha was informed on Tuesday.
The report highlights the country's good growth prospects fuelled by ongoing economic liberalisation and strong domestic demand.
French energy giant TotalEnergies SE on Monday said it will make no new financial contribution as part of its investments in Adani group companies till the Indian firm's founder is cleared of bribery charges. The energy giant said it was not aware of the investigation into the alleged corruption. TotalEnergies is one of the biggest foreign investors in billionaire Gautam Adani's business empire and had previously taken stakes in the group's renewable energy venture Adani Green Energy Ltd (AEGL) and city gas unit Adani Total Gas Ltd (ATGL).
Equity benchmark indices Sensex and Nifty tumbled in early trade on Monday amid heightened tensions in the Middle East after the US bombed three major nuclear sites in Iran. The 30-share BSE Sensex tumbled 705.65 points to 81,702.52 in early trade. The 50-share NSE Nifty dropped 182.85 points to 24,929.55.
The income-tax (I-T) department has issued showcause notices under Section 68 of the Income-Tax Act to several startups over funds routed through Singapore, seeking explanations for investments received over the past five years, people familiar with the development said. The department is questioning the source, identity, and creditworthiness of overseas investors in these transactions, they said.
