'There is more expansion in the industry happening in retail lines, so we will continue to focus on those lines.'
'The critical event signalling a new era for India was Dr Singh's 1991 Budget in which he quoted Victor Hugo to say that no power on earth could stop an idea whose time has come,' recalls T N Ninan.
Three years after India declared its goal to become a net-zero economy by 2070, the policy design for achieving the target has begun, with the NITI Aayog forming dedicated multi-sectoral committees to prepare a transition plan. In 2021, India joined a select group of nations that set a target year for becoming net-zero carbon economy. At COP26 in Glasgow, Prime Minister Narendra Modi outlined a five-pronged 'Panchamitra' climate action target for India and committed to a net-zero target by 2070, joining nations like the US, the UK, and China.
In the Union Budget for Financial Year 2023-24 (FY24), Finance Minister Nirmala Sitharaman had held forth on the need for better governance and investor protection in the banking sector. She had proposed certain amendments to the Reserve Bank of India Act (RBI Act), 1934; the Banking Regulation Act (BR Act), 1949; and the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
The output of eight core infrastructure sectors contracted for the third month in a row by 1.3 per cent in December 2020, dragged down by poor show by crude oil, natural gas, refinery products, fertiliser, steel and cement sectors. The core sectors had expanded by 3.1 per cent in December 2019, according to the provisional data released by the Commerce and Industry Ministry on Friday. Barring coal and electricity, all sectors recorded negative growth in December 2020. During April-December 2020-21, the sectors' output declined by 10.1 per cent against a growth rate of 0.6 per cent in the same period of the previous year.
Internship opportunities have been posted by 193 companies, including Jubilant Foodworks, Maruti, Eicher Motor, L&T, Muthoot Finance and Reliance.
Wholesale inflation rate declined marginally to 0.2 per cent in February compared to 0.27 per cent in the preceding month despite a slight uptick in the food basket. The Wholesale Price Index (WPI)-based inflation was in the negative zone from April to October and had turned positive in November at 0.26 per cent. The inflation in February 2023 was 3.85 per cent.
Barring coal and fertiliser, all sectors -- crude oil, natural gas, refinery products, steel, cement and electricity -- recorded negative growth in August.
India granted 1.03 lakh patents in financial year 2023-24, Controller General of Patents, Designs and Trademarks Unnat Pandit said on Thursday, as he assured that there will be "no delay" in the Intellectual Property Office as it prioritises timely clearance of applications. Addressing an Assocham event here, he shared that 40 per cent of the applications were disposed of within 30 months of the request for examination. "We are going to have no delay in the IP office, that's the motive with which we have .. that IP should be granted and under Chapter 8 of the Act it should also be utilised by the applicant ... that will generate the economic value of IP," Pandit said.
India's industrial production grew in double digit for the second month in a row at 12.3 per cent in June mainly due to strong performance by manufacturing, power and mining sectors, according to official data released on Friday. However, the data showed that the industrial output growth is lower than 19.6 per cent recorded in May this year. It was 6.7 per cent in April.
The travel and tourism industry has witnessed 28 per cent growth in job postings during June-August, according to a report. According to chat-based direct hiring platform Hirect's 'Job Index Report', the travel and tourism sector witnessed layoffs and salary reductions during the COVID pandemic. Job Index Report by Hirect is based on job posting data across various industries and cities on its platform.
The number of cyberfraud cases has skyrocketed from 2,677 in 1999-2000 to 29,082 in FY24 -- more than a 10-fold increase. The RBI pegs digital payment frauds at Rs 1,457 crore in FY24, up more than five times in a year. It's not just the number of frauds. What's alarming is the growing sophistication of the fraudsters, exposing the vulnerabilities within the financial system, observes Tamal Bandyopadhyay.
Nitin Desai, who has known Dr Singh from 1971, extends his 'deepest condolences to his wife Gurcharan Kaur and to his three talented daughters Upinder, the historian; Daman, the writer; and Amrit, the human rights activist.'
The Enhanced Pinaka has demonstrated a range of 75 km and an ability to strike within 10 metres of where it is aimed. This allows a Pinaka battery to destroy a terrorist camp, or an enemy post, logistics dump or headquarters, without sending soldiers across the border.
Exporters on Thursday sought a fund of Rs 750 crore for three years to tap USD 25 billion export potential in the US, aiming to seize potential opportunities that may arise as the US President-elect, Donald Trump, has threatened to impose high tariffs on Chinese goods. In its pre-Budget meeting with the finance ministry, Federation of Indian Export Organisations (FIEO) President Ashwani Kumar has also demanded extension of the five per cent Interest Equalisation Scheme (IES).
The wholesale price index-based inflation remained in the negative territory for the seventh straight month in October at (-) 0.52 per cent, on easing prices of food items. The WPI-based inflation rate has been in the negative zone since April and was at (-) 0.26 per cent in September, 2023. In October last year, WPI was at 8.67 per cent.
Under the new regulations, known as the National Highways Fee (Determination of Rates and Collection) Amendment Rules, 2024, fees will now be charged on the actual distance travelled if the distance exceeds 20 kilometres.
According to a senior commerce ministry official, the Budget sought to withdraw some significant stimulus measures "in a clandestine manner", which would affect exports and lead to impediments in efforts to achieve $450 billion worth of exports by 2013-14, from around $250 billion at present.
The government is proposing to use Artificial Intelligence and other innovative methods to check traffic violations and ensure that penalties are levied accurately, Union minister Nitin Gadkari said on Thursday. Addressing the 12th edition of the Traffic InfraTech Expo, the minister outlined plans for upgrading toll collection methods, including the exploration of satellite toll systems, which would improve efficiency and ensure transparency in toll collection. Gadkari noted that road safety cannot be achieved without integrating advanced engineering solutions, enforcement of laws, and the adoption of cutting-edge technologies like Artificial Intelligence (AI).
The Fintech Association for Consumer Empowerment (FACE), the only self-regulatory organisation for financial technology/fintech (SRO-FT) companies, is aiming to secure membership from at least 75 per cent of players across all key fintech categories within the next three years, according to a senior executive. The total number of members in the organisation has increased to 110, up from around 60 when it received approval from the Reserve Bank of India (RBI) to operate as an SRO-FT in August.
For Yogi Adityanath the successful management of the fair is a crucial part of building 'Brand UP' and making the state a $1 trillion economy.
Eying benefits from digital banking, lenders are now looking at building Unified Recovery Interface (URI) for enhancing efficiency, reducing costs, and getting good prices for properties of defaulters. This would be managed by PSB Alliance Ltd, a company set up by all public sector banks in the country. M V Rao, chairman, Indian Banks' Association (IBA), said: "Till now we had Unified Payments Interface (UPI), a product developed by National Payments Corporation Ltd (NPCI).
The maiden, critical mineral auction in India has failed to enthuse the mining industry, with the first tranche achieving less than a 50 per cent success rate and the auction of several mines was cancelled owing to low response. The results, announced by the Ministry of Mines on Monday, showed that six lesser-known companies emerged as preferred bidders. Among these were Agrasen Sponge, Kundan Gold Mines, Dalmia Bharat Refractories, Sagar Stone Industries, and Maiki South Mining.
India described as "inaccurate" a media report that said artillery shells sold by Indian arms manufacturers have been diverted by European customers to Ukraine and New Delhi has not intervened to stop it.
The highest-ever goods and services tax (GST) evasion has been done by the online money gaming industry.
The strong message from the prime minister is of continuity of policies he considers right with strong emphasis on execution, points out T N C Rajagopalan.
The ministry of information and broadcasting is working on a proposal to set up a mega movie production studio -- akin to those in Hollywood -- with an investment of Rs 10,000 crore (Rs 100 billion), which will be supported by the government.
'We are going to need more technical people in government.' 'You can't expect a generalist to understand the complicated world of financial engineering.' 'I regret to say that most of our politicians have no competence to deal with these things. Nor is there a willingness to learn.'
A shortlist using artificial intelligence would be prepared to identify eligible candidates and match them to the suitable internship opportunity. The shortlist would be shared with the companies on Tuesday, October 15.
China has approved the construction of the world's largest dam on the Brahmaputra River in Tibet, close to the Indian border. The USD 137 billion project, which is expected to dwarf even China's own Three Gorges Dam, has raised concerns in India and Bangladesh, the downstream riparian states. Concerns in India are centered around China's potential to control water flow, potentially enabling the release of large amounts of water to flood border areas in times of hostilities. The dam is part of China's 14th Five-Year Plan, and the Chinese government claims that the project is safe and prioritizes ecological protection.
The government is expected to outline a policy framework for artificial intelligence (AI) at the annual India Mobile Congress (IMC) 2024, beginning Tuesday, officials said. Apart from industry participation, the four-day event will feature booths from over 15 ministries showcasing how AI is being integrated into their departments.
The government is expediting visa-related issues to bring technicians to India from any country, not just China, as and when required, to ensure the smooth implementation of the flagship production-linked incentive (PLI) scheme aimed at boosting domestic manufacturing. "If those under the PLI scheme need to get their equipment installed, we try to expedite the ability to get technicians into India from any country, whichever it may be," Union Commerce and Industry Minister Piyush Goyal told Business Standard in an interview.
The two countries also signed a 'Memorandum of Agreement regarding the Assignment of Liaison Officers', which will facilitate the posting of one military officer from each country with the military of the other.
The TIME 100 AI list is an interesting assortment of titans. Indians make up about 20 per cent of the coveted list, which is pretty commendable, notes Sandeep Goyal.
Contracting for the ninth consecutive month, the output of eight core infrastructure sectors dropped by 2.6 per cent in November, mainly due to decline in production of natural gas, refinery products, steel and cement. The production of eight core sectors had recorded a growth of 0.7 per cent in November 2019, data released by the commerce and industry ministry showed on Thursday. Barring coal, fertiliser and electricity, all sectors -- crude oil, natural gas, refinery products, steel and cement -- recorded negative growth in November 2020.
The wholesale price index-based inflation remained in the negative territory for the sixth straight month in September at (-)0.26 per cent, on easing prices of food articles. The WPI-based inflation rate has been in the negative since April and was (-)0.52 per cent in August. In September last year, it was 10.55 per cent.
Barring fertiliser, all seven sectors -- coal, crude oil, natural gas, refinery products, steel, cement and electricity -- recorded negative growth in July.
However, the handle, which has over 40,000 followers, was restored later in the afternoon.
The Ministry of Heavy Industries announced on Tuesday that it has received bids from seven players for the re-bidding tender of the 10 gigawatt-hour (Gwh) tranche of the Advanced Chemistry Cell (ACC) manufacturing production-linked incentive (PLI). "The list of bidders (in alphabetical order) who have submitted bids in response to this tender are ACME Cleantech Solutions, Amara Raja Advanced Cell Technologies, Anvi Power Industries, JSW Neo Energy, Reliance Industries, Lucas TVS, and Waaree Energies for a cumulative capacity of 70 Gwh," the ministry said in a statement. After the re-auctioning for the manufacturing unit was announced in January, the pre-bid meeting was held on February 12, the ministry said.
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