India will need to grow at an average 7.8 per cent to become a high-income country by 2047, a World Bank report said on Friday. To achieve this goal India would require reforms in financial sector as well as in land and labour market, the World Bank said in its India Country Memorandum titled 'Becoming a High-Income Economy in a generation'.
The White House mentioned that American companies are replacing US workers with H-1B workers.
Any industrial policy is only as good as how it is applied and the other reforms that support it. This was as true 40 years ago as it is now, points out Debashis Basu.
Ahead of the key meeting called by the steel ministry with the industry captains on Monday to discuss the impact of rising steel imports, companies have raised the issue of cheaper 'substandard' inflows from China, Vietnam, and South Korea, saying they are setting the benchmark for domestic prices and squeezing the profitability of Indian producers.
International Monetary Fund (IMF) Deputy Managing Director (MD) Gita Gopinath has condemned the "terrible and disturbing" incident of rape and murder of a trainee doctor in Kolkata. "Personally, it is terrible to have any event of this kind. It is disturbing," she told Business Standard in New Delhi.
Joe Root's patient unbeaten 99 led England to 251-4 on an attritional and compelling first day of the third Test against India at Lord's on Thursday.
India will take all necessary steps to safeguard and promote national interest, Commerce and Industry Minister Piyush Goyal said on Thursday, a day after US President Donald Trump announced 25 per cent tariffs plus penalty on domestic exports to America from August 1.
Labour reforms have been pending in India for long.
The labourers, who are said to be of Nepali origin, were engaged in the construction of a hotel.
Majority of state units favour dual posts, AIFF calls SGM on Nov 24 to vote on matter
'Most of them (H-1Bs) are from one country, India, there's a cottage industry about how all those people make money off this system.'
An Indian commerce ministry team has reached Washington for another round of talks from Monday on the proposed bilateral trade agreement (BTA), an official said. Chief negotiator of India and special secretary in the Department of Commerce, Rajesh Agrawal, will join the team on Wednesday.
A startling United Nations study finds that only 10 per cent of students in India ever access professional career counselling.
'The biggest point of contention is market access for US agricultural and dairy products.'
Employers in India are planning to outpace global adoption in certain future technologies as companies operating in the country are heavily investing in technologies like artificial intelligence (AI), energy technologies, robotics, and autonomous systems, said the World Economic Forum (WEF) in its latest "Future of Jobs" report released on Wednesday. The report, released days before the WEF annual meeting in Davos from January 20-25, notes that 35 per cent employers in India think that adopting semiconductors and computing technologies (compared to 20 per cent globally) will transform their operations while 21 per cent employers think that adopting quantum and encryption technologies (compared to 12 per cent globally) will also transform their operations.
'Traders and exporters will have to explore alternative markets.'
The unemployment rate for women was last this low around Diwali in 2022. The unemployment rate has dropped for women from 14.9 per cent in December 2023 to 11 per cent in January 2024, according to data from the Centre for Monitoring Indian Economy (CMIE). It was higher in January 2023 at 13.5 per cent.
The USA's steep 50 per cent tariffs on Indian goods entering America will severely impact exports and job creation in labour-intensive export sectors such as shrimp, apparel, leather and gems and jewellery. Exporters said that the imposition of a 25 per cent penalty on India over and above the 25 per cent tariffs move will disrupt the flow of Indian goods to its largest export market.
United States President Donald Trump said a 'very big' trade deal is on cards with India, hinting at significant progress in the negotiation process of a long-awaited bilateral trade agreement between the two countries.
Apex exporters body FIEO on Tuesday expressed serious concerns over high US tariffs on Indian goods and said that textiles and apparel manufacturers in Tirupur, Noida, and Surat have halted production amid worsening cost competitiveness due to these steep duties. The US duties on Indian goods will increase to 50 per cent from August 27.
'I'm here because of years of grind. Yet a few careless words online can reduce that struggle to a stereotype.'
Generative AI is transforming workplaces but at a cost -- there are fewer jobs for young workers just entering the workforce, reveals a Goldman Sachs report.
A 10-part series that explains all you want to know about how India's EPF turns a slice of your monthly salary into long-term savings, pension, and life insurance.
India and the UK on Thursday inked a landmark free trade agreement (FTA) that will cut tariffs on British whisky, cars and an array of items, besides boosting bilateral trade by around $34 billion annually.
Physical AI equips machines with the ability to perceive, learn, and act in the real world by integrating AI algorithms with sensors and actuators in physical systems like robots and vehicles.
'Everybody in America loses because of what India is doing.'
US President Donald Trump signed a proclamation restricting entry of certain non-immigrant workers and imposing a USD 100,000 fee on H-1B visas, citing abuse of the program and national security concerns.
India's top information- technology (IT) services companies, all cash-rich, have been tightfisted about ploughing back their earnings in new projects or acquisitions and the bulk of the profits have been distributed to shareholders through dividend and share buybacks. In the past 10 years (that is, excluding the current one), the firms have reinvested in growth and expansion only around 13.5 per cent of the cash flow generated from their operations.
The Employees' Provident Fund Organisation (EPFO) board has approved liberalised part withdrawals for subscribers, allowing up to 100 per cent EPF withdrawal, and rolled out the 'Vishwas Scheme' to reduce litigation through rationalised penal damages.
I have been living here for 61 years and have never, ever heard of such an incident. The local community are getting seriously concerned because this is the second (racially aggravated) attack in the West Midlands
The rate of unemployment in the country declined to 5.2 per cent in July from 5.6 per cent in June, a government survey said on Monday. The unemployment rate (UR) in May was also 5.6 per cent, said the Periodic Labour Force Survey (PLFS) released by the Ministry of Statistics and Programme Implementation (MoSPI).
As it gains commercial viability, the food will likely become a powerful political currency.
Before her flight to London, Air India crew member Maithili Patil had made a final, comforting promise to her father, Moreshwar Patil, that she would call him once she reached the city. But the call did not come.
'It's a big milestone and a matter of pride for us to represent India in the world forum.'
'The US slump could hit our hosiery market hard since 40 per cent of our exports go there.' 'Job losses could be severe if the government doesn't step in fast.'
India's demographic advantage and diverse economic landscape position it uniquely to benefit from AI, the Economic Survey for 2024-25 tabled in the Parliament on Friday afternoon asserted. However, achieving these benefits requires significant investments in education and workforce skilling, supported by enabling, insuring, and stewarding institutions, the state of the economy report tabled by Finance Minister Nirmala Sitharaman said.
Commerce and Industry Minister Piyush Goyal will accompany Prime Minister Narendra Modi to London for the signing of the free trade agreement between India and the UK on July 24, an official said on Monday. The two countries announced the conclusion of the negotiations for the trade agreement on May 6.
'I can't come in and say, "I only can do the hero role." I need to be a villain. I need to be a joker. I need to play around".'
India's policy for agriculture trade must move commodity-by-commodity to gain maximum benefits as US President Donald Trump's 26 per cent tariff on exports from the country take effect, said agriculture economist Ashok Gulati in a recent policy paper.
More than 25 crore workers engaged in sectors ranging from banking, insurance, postal to coal mining, highway and construction are expected to go on a nationwide general strike on Wednesday, potentially disrupting services across the country. A forum of 10 central trade unions and their associates has called for a general strike or 'Bharat Bandh' to "oppose the anti-worker, anti-farmer and anti-national pro-corporate policies of the government".
