Outward remittances under the Reserve Bank of India's (RBI's) liberalised remittance scheme (LRS) surged by 50.64 per cent to $9.1 billion in the April-June quarter (first quarter, or Q1) of 2023-24 (FY24), driven by healthy growth across segments due to a revision in the timeline of tax collected at source under the LRS scheme and normalisation in international travel. Major drivers include equity and debt investments, deposits, and the international travel segment, among others. According to the latest RBI data, the amount remitted under LRS stood at $9.1 billion in Q1FY24, compared with $6.05 billion in the same quarter last year.
India and Saudi Arabia on Monday decided to expedite implementation of the $50 billion West Coast refinery project, and identified energy, defence, semiconductor and space as areas for intensified cooperation during talks between Prime Minister Narendra Modi and Saudi Crown Prince Mohammed Bin Salman Bin Abdulaziz Al-Saud.
In Ahmedabad to promote tourism in the island nation, Fernando said China has made a lot of investment in Sri Lanka and has been 'understanding its requirements in the past'.
India will encourage greater investments in Sri Lanka's economy, especially in areas of energy, tourism and infrastructure, External Affairs Minister S Jaishankar said on Friday, as he expressed India's solidarity with the debt-ridden Island nation during its "difficult moments".
Around 25 buses carrying Trinamool Congress volunteers set out from Kolkata on Saturday for the planned protest programme in Delhi on October 3 against the alleged withholding of funds by the Centre, party leaders said.
Consumption-related stocks, such as hotels, and quick service restaurants (QSRs), have been hitting the ball out of the park ahead. On the other hand, the Miss World Pageant scheduled for later this year in New Delhi, too, could provide some tailwind to these stocks, especially hotels and aviation. However, analysts suggest investors put their best foot forward and buy these counters only on a decline given the recent rally and economic headwinds.
Visa on arrival applies for all Indians, except for people coming in from Chennai. Anyway, if you get a visa in India itself, it works out cheaper, and what's more, you get a visa for multiple entries.
Thousands of movie buffs remember the double deckers of Mumbai, associating them with stars and blockbuster songs of yesteryear, recalls Debarghya Sanyal.
Royal Caribbean Cruise's The Legend of the Seas will be positioned in Singapore from June 2015 followed by the Mariner of the Seas later in the year.
In an interview with rediff.com Sabina Chopra, Yatra.com's co-founder and executive vice president, operations, spoke about the company's initial challenges, how they overcame them, their hiring plans and do's and don'ts for young entrepreneurs.
Diversified entity ITC Ltd on Monday said it will demerge its hotels business by incorporating wholly-owned subsidiary ITC Hotels Ltd, paving way to attract appropriate investors and strategic partners. With the company's hotels business maturing over the years, the company said the vertical is ready to chart its own growth path as a separate entity in the fast-growing hospitality industry. "The Board of Directors of ITC Ltd at its meeting held on July 24, 2023, evaluated and discussed various alternative structures for the hotels business.
With the spate of businesses turning their attention to Ayodhya, land rates have shot up, in some pockets by as much as 10 times. Whether one walks into a hotel lobby or sits down for a meal, land deals are being discussed at every other table -- one on one or among groups.
The demand for white-collar gig roles saw an 11 per cent uptick year-on-year in March, amid muted hiring across industries due to global headwinds and job cuts, according to a recent report. The month saw white-collar hiring in India rise 2 per cent in terms of job posting activity compared to the same period the previous year, according to the report by staffing portal foundit.in (formerly Monster APAC and ME). Sectors such as retail, telecom, and Travel and Tourism saw the biggest growth in demand on an annual basis.
India should become a middle-income country and then push to make INR (rupee) a hard currency, and till then, it must promote the settlement of global trade in the local currency, think tank GTRI said on Sunday. Global Trade Research Initiative (GTRI) said that transforming a currency into a hard currency is a complex process that hinges on several pivotal factors. Firstly, economic stability is paramount; a country must exhibit low and stable inflation, consistent growth, and a balanced trade environment.
The Supreme Court on Monday mooted constituting an expert committee for conducting a "complete and comprehensive" study on the carrying capacity of the Himalayan region in the country, where unplanned development has caused devastation in recent times, terming it a "very important issue".
The Union Territory of Ladakh created history by successfully conducting its maiden 21-km trail running event in sub-zero temperature at 13,862 feet high Pangong Tso.
Just an hour or so from the ones we commonly throng to, they promise a lot more for a lot less.
Kerala will be one of those places where the line between tourism, a land, a people and their way of life will blur. It won't be tourism; it will be a visit to experience Kerala.
More than one million Indian tourists are expected to visit Singapore this year, the city states top tourism board official said.
These organisations said their campaign will continue till the display of such certification on their products are banned.
In 2016, there were 580,000 Indians in the US as resident non-immigrant. Of these, 440,000 were temporary workers, which includes those on H-1B visas and 140,000 were students.
ITDC/Aldeasa, a joint venture between state-owned Indian Tourism Development Corporation and Spanish company Aldeasa, had bagged the contract for duty-free operations at Mumbai airport for Rs 571 crore (Rs 5.71 billion) in February. Operations were to start in June. Instead, two weeks ago, Aldeasa wrote to MIAL saying that the contract value should be reduced to Rs 250 crore (Rs 2.5 billion).
The government has also set targets for the next 25 years. We are working on the target of becoming a $5-10 trillion economy as well as taking exports to a record high, he said.
'Why can't a country that builds and manages airports of acknowledged excellence at home and abroad produce passports of durable quality for its citizens?' asks Sunil Sethi.
The government on Friday announced that no tax will be charged on overseas spending of up to Rs 7 lakh in a year using debit or credit as it looked to douse backlash from its earlier decision of levying TCS on all spending. The government had earlier this week brought overseas credit card spending under Liberalised Remittance Scheme (LRS). This meant that any spending using credit cards overseas would attract a 20 per cent tax from July 1.
The 53-year-old record-holding mountain guide stood atop the 8,848.86 metres-high peak at 8:30 am on Wednesday, the department of tourism of Nepal said.
'Consumers are willing to increase travel spends by 20-30 per cent versus pre-pandemic.'
Baljeet Kaur, a 27-year-old leading Indian woman climber, was found alive on Tuesday, a day after she went missing near Camp IV of Mt Annapurna while descending from the summit point, an official of the expedition organiser said.
Brahma, Vishnu, Shiva, Ram, Laxmi, stories from the Hindu epics are seen in carvings, paintings and murals, as well as recognisable figures from mythology, like Garuda, Sheshnag, Nandi and Apsaras, notes Deepa Gahlot, savouring the beauty of Cambodia.
After years of being sequestered by the pandemic, some intrepid travellers are planning to settle their score with the novel coronavirus. With fewer or no travel curbs, they are eager to get back on the road, again. Hotels and tour operators, too, are eager to shed excess Covid baggage. And this year's Diwali promises to add that extra layer sparkle with the introduction of new flights.
Of these 8.5 million additional people employed in September, 6.5 million were in rural India, reveals Mahesh Vyas.
During January to April, 171,000 Indians visited Singapore.
Prime Minister Narendra Modi went on a 'safari' at the Bandipur Tiger Reserve in Karnataka on Sunday, as part of programmes to mark 50 years of 'Project Tiger'.
The air carriers' liability and insurance draft bill has proposed a five-fold increase in compensation in case of death or injury, the report said.
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
Barely able to stand on its own feet after the disinvestment blow, the Indian Tourism Development Corporation is now struggling to get unpaid dues totalling Rs 15 crore (Rs 150 million from the government.
e of them requires MPs to follow the norms including the Code of Ethics, which mandates them not to take gifts that may interfere with honest and impartial discharge of their official duties.
His government's decision to host G-20 events across the country is an investment in capacity-building among people, cities and institutions, Prime Minister Narendra Modi has said, as he took a jibe at previous governments asserting they lacked confidence in people's abilities to hold mega events outside the capital, in smaller places.
