India's exports grew by 67.39 per cent to $32.21 billion in May driven by healthy growth in sectors such as engineering, pharmaceuticals, petroleum products and chemicals, according government data released on Wednesday. Exports in May last year stood at $19.24 billion and in May 2019 it was at $29.85 billion, the commerce ministry's preliminary data showed. Imports in May rose by 68.54 per cent to $38.53 billion, from $22.86 billion in May 2020. In May 2019, imports stood at $46.68 billion.
The Life Insurance Corporation of India has the wherewithal to acquire a composite license, a top source aware of the development told Business Standard, adding that the insurance behemoth may look into entering the health and general insurance segments. "LIC has the scale, capacity, IT infrastructure, and the distribution reach to take advantage of the composite license. "LIC is looking at organic as well as inorganic growth opportunities.
India has been reporting over 60,000 cases daily since August 7, barring August 11 when the country registered 53,601 new instances of the infection.
With the fresh cases, India's COVID-19 tally rose to 22.68 lakh, while the recoveries have surged to 15,83,489, pushing the recovery rate to 69.80 per cent.
This was because of the closure of retail shops and factories after the nationwide lockdown was imposed to prevent spread of Covid-19, and a sharp increase in the metal's price.
This is the seventh consecutive day that COVID-19 cases have increased by more than 45,000.
The national recovery rate has been pushed to 96.91 per cent on Wednesday.
A total of 3,00,41,400 samples have been tested until August 16 with 7,31,697 samples being tested on Sunday, the Indian Council of Medical Research said.
India's exports contracted 12.2 per cent to $34.48 billion in December 2022, mainly due to global headwinds, and the trade deficit widened to $23.76 billion during the same period, according to official data released on Monday. Imports in December 2022 also declined 3.5 per cent to $58.24 billion as against $60.33 billion in the year-ago period. In December 2021, exports stood at $39.27 billion and the trade deficit was at $21.06 billion.
The Drugs Control General of India has permitted emergency use of Covid vaccine Sputnik V with certain conditions, clearing the way for a third vaccine in addition to Covishield and Covaxin. Besides, the government on Tuesday also fast-tracked emergency approval for other jabs. Here is what the vaccines are all about:
India is in dire need of cybersecurity professionals. With several recent incidents of data breach, India's cybersecurity journey so far proves this demand. But is the country ready to meet this demand and is it preparing a cybersecurity workforce for the unforeseen cyber future? A report titled "India Cybersecurity Services Landscape" by Nasscom-Data Security Council of India (DSCI) predicts that the Indian cybersecurity services industry would grow at a compound annual growth rate (CAGR) of about 21 per cent to touch $13.6 billion by 2025. And by 2022, the industry, which generated a cumulative revenue of about $4.3 billion in 2019, is expected to grow to $7.6 billion. However, around 3.5 million jobs in the cybersecurity space will remain unfilled by the end of 2021.
There are 907883 active cases of coronavirus infection in the country which comprises 13.44 per cent of the total caseload, the data stated.
In a letter to Murmu, Stalin said that Ravi has violated the oath of office he took under Article 159 of the Constitution, the government said in an official release.
Life insurance companies reported a 17 per cent year-on-year (YoY) drop in new business premium (NBP) in February as state-owned Life Insurance Corporation of India's premiums contracted 32 per cent during this period on account of a drop in its group single premium segment. According to data released by the Life Insurance Council, the industry earned an NBP of Rs 22,847.65 crore in February - a drop of 17 per cent from the same period a year ago.
'Is it time to think beyond the traditional questionnaire-based approach in India?' asks Atanu Biswas.
Nearly half of all coronavirus patients in the country have been cured, taking the recovery rate to over 48 per cent.
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
Three COVID-19 vaccine candidates, including two indigenous ones, are in different phases of development in India.
The death toll climbed to 5,24,181 with 24 fatalities, the data updated at 8 am stated.
Given the security dilemma prevailing between India and China, India should curb the operation of Chinese telecom companies in India, asserts Dr Rup Narayan Das.
India's COVID-19 tally had crossed the 20-lakh mark on August 7.
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
India is likely to become a $40 trillion economy by 2047 -- a 13-fold jump from its current size -- driven primarily by a clean energy revolution and digitalisation, billionaire Mukesh Ambani said on Tuesday. Ambani's estimate for the Indian economy, currently the fifth largest in the world behind only the US, China, Japan and Germany, is more optimistic than Asia's richest man Gautam Adani, who last week stated that India will become a $30 trillion economy by 2050 on back of rising consumption and socio-economic reforms. "From a 3 trillion-dollar economy, India will grow to become a 40 trillion-dollar economy by 2047, ranking among the top three economies of the world," Ambani said at the 10th convocation of Pandit Deendayal Energy University in Gandhinagar.
The total coronavirus cases mounted to 40,23,179, while the death toll climbed to 69,561 with 1,089 people succumbing to the disease in a span of 24 hours, data updated at 8 am showed.
It is a trend that economists and researchers say might continue. The data shows the share of this age group in the net EPF accounts created - a proxy for net new formal jobs created - fell from 37.9 per cent in 2018-19 to 24.1 per cent in 2021-22.
The active cases comprise 0.03 per cent of the total infections, while the national COVID-19 recovery rate remained at 98.76 per cent, the ministry said.
Google CEO Sundar Pichai and his Microsoft counterpart Satya Nadella have assured help to India as the country grapples with a ravaging coronavirus crisis that has put enormous pressure on its hospitals due to a shortage of beds, oxygen and medical supplies.
The recovery rate has increased to 76.62 per cent, while the fatality rate has declined to 1.78 per cent.
India saw a single day rise of 4,184 coronavirus infections taking the total tally of COVID-19 cases to 4,29,80,067, while the active cases dipped to 44,488, according to the Union Health Ministry data updated on Thursday.
The death toll climbed to 5,21,736 with 26 fresh fatalities, the data updated at 8 am stated.
Ever since Nitish embarked on the slippery path of trying to unite the Opposition against the BJP, he has repeatedly rebutted suggestions that the exercise was aimed at bringing himself centre stage. The problem is: It is not enough if he says so. Others have to say so as well, especially Congress, observes Aditi Phadnis.
'We first collected samples from all the bomb blast sites.' 'We had to find what was common among them.'
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
The death toll due to COVID-19 climbed to 47,033 with 942 people succumbing to the disease in the last 24 hours, health ministry data updated at 8 am showed.
The death toll has climbed to 4,60,791 with 526 more fatalities, according to the data updated at 8 am.
The Reserve Bank will hold a special meeting of its rate-setting committee on November 3 to prepare a report for the government on why it failed to keep retail inflation below the target of 6 per cent for three consecutive quarters since January. The six-member Monetary Policy Committee (MPC) headed by RBI Governor Shaktikanta Das will prepare the report on reasons for failure to meet the inflation target as well as the remedial measures the central bank is taking to bring down prices in the country. "Under the provisions of Section 45ZN of the Reserve Bank of India (RBI) Act 1934... an additional meeting of the MPC is being scheduled on November 3, 2022," RBI said in a statement on Thursday.
The number of active cases has declined to 2,92,206, accounting for 0.87 per cent of the total number of cases -- the lowest since March 2020 -- while the national COVID-19 recovery rate was recorded at 97.81 per cent, the highest since March last year, the ministry said.
Registering a steady increase for the 42nd in a row, the active cases have increased to 21,57,538, comprising 13.82 per cent of the total infections, while the national COVID-19 recovery rate has dropped to 85.01 per cent.
Lumpy Skin Disease has spread in more than a dozen states including Gujarat, Rajasthan, Punjab and Haryana.
India logged 14,148 new coronavirus infections, taking the total tally of COVID-19 cases to 4,28,81,179, while the active cases dipped to 1,48,359, according to the Union health ministry data.
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