It would be a difficult task for the Indian economy to reach the $5-trillion mark a year before the International Monetary Fund (IMF) projection of 2026-27. Pankaj Chaudhary, minister of state for finance, said in the Rajya Sabha on Tuesday that the government is taking steps to make the country a $5-trillion economy at a date earlier than the IMF's projection. In that context, it would not be difficult to meet the projection in the third quarter of FY27.
Delhi's 24-hour average air quality index (AQI) stood at 407 at 4 pm.
After dipping by as much as 17 per cent in April, readymade garment (RMG) exports of all textile categories in India are showing signs of recovery in May. Exporters in Tiruppur are indicating a rise in rupee terms during the month, while it may take at least a month for volumes to be back in positive terrain. Among the global majors that are placing orders in the textile hub include Walmart, H&M (Hennes & Mauritz AB), Tommy Hilfiger and Target.
'If we have to restrict and fight terrorism, first and foremost, we have to ensure communal harmony in the country.'
While the corporate sector has benefited from massive capital expenditure, leading to sky-rocketing stock prices, investors would do well to keep an eye on the macroeconomic picture and government finances, not just corporate profits, for signs of trouble, alerts Debashis Basu.
The government is busy strategising ways to revive the domestic mobile device industry as Chinese firms have grabbed a large chunk of the handset market. The idea is to minimise competition from Chinese mobile players in the entry level or sub-Rs 10,000 category, according to a senior government official familiar with the plans. While discussions on the strategy are on, there's a growing consensus within the government that the lower end of the market should be reserved only for the domestic players, the official said.
Finance Minister Nirmala Sitharaman on Wednesday said the government is keeping an eye on inflation which is purely "extraneous" nowadays because of fuel and fertiliser prices. Replying to the debat on the Supplementary Demands for Grants in the Rajya Sabha, the minister said wholesale inflation has fallen to a 21-month low. Later, the Rajya Sabha returned the Supplementary Demands for Grants to the Lok Sabha, thus completing the process of authorising the government to spend an additional Rs 3.25 lakh crore in FY2022-23.
The IPL franchises are now expanding their bouquet of teams across leagues in the West Indies, UAE, South Africa and now the US is another untapped market that wasn't explored despite the Asian diaspora craving for some cricket.
Temperatures are shooting up in central and westeren India, but parts of northern India had a brief respite with unseasonal rainfall on Wednesday, like what the Ridge in Shimla experienced.
'The Indian govt's initiatives on EVs are very strong and customers want to buy EVs. This will make the country's conversion to EVs faster than other markets, and I hope even faster than the US'
The government hopes that the PLI schemes would provide 200,000-300,000 direct employment over five years, according to sources in the know.
Hauling itself up from World Group II should not be a complicated task for India when it takes on an unostentatious Morocco in the home tie, which will be more of a celebration of Rohan Bopanna's Davis Cup career.
Apple Inc's leading contract manufacturer, Taiwanese giant Wistron, has exceeded its investment obligation in India in just eight months, although the government's production-linked investment (PLI) scheme allowed it to complete the investment in four years. Between August 2020 and end March 2021, Wistron made an investment of Rs 1255 crore - 25 per cent more than the total investment it had committed to the government. Under the PLI scheme for mobile devices, the government had stipulated that each of the five participating global companies needed to invest Rs 250 crore every year for the first four years, totalling Rs 1,000 crore.
The government has ordered monoclonal antibody from Indian Council of Medical Research to treat the child. It is the only available anti-viral treatment for Nipah virus infection, though it has not been clinically proven yet.
Dense to very dense fog engulfed the Indo-Gangetic plains, including Delhi, for the second morning on the trot on Tuesday, lowering visibility to 50 metres in the city and affecting road traffic and train movement.
For Tendulkar, the biggest disappointment has been getting dropped from the Mumbai squad this season without being given a chance to prove his mettle.
Ahead of their must-win clash against Delhi Capitals, Punjab Kings' batter Liam Livingstone said he doesn't like being termed an anchor.
SoftBank Group-backed Ola Electric is in talks with multiple global suppliers to build a battery cell manufacturing plant in India with a capacity of up to 50-gigawatt hours, sources said. As part of its broader electrification push, the firm plans to invest in companies with advanced cell and battery technology, alongside the 50 Gwh battery plant. Ola Electric needs 40 Gwh of battery capacity to power 10 million electric scooters annually. The remainder will be for its electric cars, which the company plans to manufacture in the future.
A healthy growth in India's services segments has helped the country's total exports and imports of goods and services to cross the $800 billion mark during the first half of 2023, despite a slowdown in global demand, think tank GTRI said in a report on Monday. According to the analysis of the Global Trade Research Initiative (GTRI), exports of goods and services rose by 1.5 per cent to $385.4 billion during January-June this year, as against $379.5 billion in January-June 2022. Imports, however, dipped by 5.9 per cent to $415.5 billion during the six months of this year, as against $441.7 billion in January-June 2022.
'As long as ASUS continues to introduce new products into the market, we still have a chance to grow our business in India.'
Sounding a note of caution, former Reserve Bank Governor Raghuram Rajan has said that India is "dangerously close" to the Hindu rate of growth in view of subdued private sector investment, high interest rates and slowing global growth. Rajan said that sequential slowdown in the quarterly growth, as revealed by the latest estimate of national income released by the National Statistical Office (NSO) last month, was worrying. Hindu rate of growth is a term describing low Indian economic growth rates from the 1950s to the 1980s, which averaged around 4 per cent.
Prime Minister Narendra Modi on Friday said production linked incentive (PLI) scheme, which is aimed at boosting domestic manufacturing and exports, is expected to increase the country's production by $520 billion in the next five years. Addressing a webinar on PLI scheme, organised by Department of Industry and International Trade (DPIIT) and NITI Aayog, through video conference, Modi said the government is continuously carrying out reforms to boost domestic manufacturing. In this year's Budget, about Rs 2 lakh crore was earmarked for the PLI scheme for the next five years and "there is an expectation that the scheme would result in increasing the production by about $520 billion in the next five years", he said. He added that there is also an expectation that the current workforce in the sectors, which will avail the benefits of the PLI scheme, will be doubled and job creation will also increase.
Doan equalised in the 75th minute before Asano showed lovely control and smashed the winner in from a tight angle -- causing an explosion of joy among the Japan bench and head shaking among German fans used to watching both players ply their trade in the Bundesliga.
The Border Roads Organisation kept the pass open beyond December 31 for the first time.
E-commerce players may soon rent out drones, so you can use them the way you book a cab on an app, and test viable use-cases for last-mile delivery.
A video of cutting and felling of trees in Aarey is being circulated by protestors on social media.
To ramp up domestic battery manufacturing capacity and reduce the dependence on imports, the government has initiated talks with a few lithium-rich countries to supply the mineral to Indian companies, industry sources informed Business Standard. The Ministry of External Affairs (MEA) held a meeting with the ambassadors of countries, including Argentina, Chile, and Bolivia, among others, to put forth its request.
'Pollution acts as an endocrine disruptor.' 'When it acts as an endocrine disruptor it has an effect on the endocrine system of the human body and the effect on the pancreas is an important one.' 'The way you get type two diabetes is due to two defects.' 'One is the pancreas doesn't produce enough insulin.' 'The other physiological defect is insulin resistance.'
Severe cyclonic storm Mandous will cross the coast between north Tamil Nadu and south Andhra Pradesh around December 9 night and early next day, the regional weather office said on Friday.
He has been in tremendous form of late with one hundred and three fifties in his last six 50-over games.
India doubled its exports of smartphones to $11.1 billion (about Rs 91,000 crore) in 2022-23 (FY23) over the previous year's figure of $5.48 billion (Rs 45,000 crore), thanks largely to the Apple juggernaut, according to data from the India Cellular and Electronics Association (ICEA). Union Minister for Communications, Electronics & IT Ashwini Vaishnaw said: "With the doubling of exports of smartphones to over Rs 90,000 crore, India is well on its way to becoming a leader in the global mobile device market." On the flip side, despite the government prodding Chinese companies to export more, their smartphone shipments fell steeply by 26 per cent from $214 million in FY22 to $157 million in FY23.
The overall Air Quality Index (AQI) of Delhi stood at 398 at 11 am, worsening from 357 at 4 pm on Friday. It was 354 on Thursday, 271 on Wednesday, 302 on Tuesday and 312 on Monday (Diwali).
PM2.5 pollution in the national capital has reduced by over 7 per cent in four years, from 108 micrograms per cubic metre in 2019 to 99.71 micrograms per cubic metre in 2022, the report by NCAP Tracker said.
The driver of a truck that ploughed into a religious procession killing at least 12 people, including seven children, in Bihar's Vaishali district was rescued from the mangled vehicle and arrested, a senior police officer said on Monday.
Former Indian cricketer Farokh Engineer hailed IPL being the 'envy of the world' but said Test cricket cannot be sacrificed.
We have the workforce, now we need to ensure that we take full advantage of game-changing technologies and geopolitical openings, suggests Jayant Sinha, chairman, Parliament's Standing Committee on Finance.
The IPL's two and half month window starts from March and goes on till the beginning of June.
A combination of one of the lowest labour costs and a large surplus workforce, which will continue to grow until 2031, is one of the key competitive edges that India is leveraging to challenge its rivals in Southeast Asia in the race for a China-Plus-One strategy. Apart from India, the countries in the race to woo global companies that manufacture in China, as well as the supply chains to their country include Thailand, Indonesia, Malaysia, the Philippines, and Vietnam. On the labour front, India is a clear winner.
'These measures should be in place throughout the year in order to bring down AQI levels to 100 or below'
They will not be followed by analysts and no fund manager can buy such small companies with low trading liquidity.
Large companies, those that are talked about in the media and tracked on social media, have already been discovered. They won't lead to extraordinary gains, Debashish Basu points out.
