If electric cars with a real range of more than 400 km are launched, the anxiety regarding the charging points will come down, and more people will buy EVs.
Following are comments from economists at leading financial institutions, banks and rating agencies on the interim Budget:
Continuing his investment spree in India's hot start-ups, Ratan Tata on Friday invested in Kyazoonga.
As the Men in Blue took on Australia in an intriguing ICC Men's Cricket World Cup final in Ahmedabad on Sunday, the orders on quick delivery platforms reflected the pulsating mood of the nation.
India ranks third among global startup ecosystems.
The Indian startup, which was already working as a partner with Twitter, offers services like missed calls for user verification and alerts to its customers.
The 'Pesta Demokrasi' is a cause for celebration not only for Indonesia but also for democracy and forces for peace all over the globe, notes Sandeep Chakravorty, India's Ambassador to Indonesia.
The number one way the Modi administration can demonstrate its commitment to the success of the Atal Innovation Mission, Accelerating Growth for New India's Innovations, Make in India, Digital India, and Startup India is to strengthen its IP framework in ways that promote the legal and regulatory certainty necessary for greater R&D investment, high-value jobs, and greater innovative and creative outputs, the report said.
Describing the state visit of Prime Minister Narendra Modi to America as a "watershed moment" in bilateral ties, US Ambassador to India Eric Garcetti has said that this week will be one of those moments that can change the course of history as the two democracies get together for peace and prosperity.
Online companies would look forward to an integrated and uniform approach for tax laws and regulatory policies
Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
Going by the RBI directive and the overall narrative, Paytm may have lost the rigour of stress tests, audits and compliance.
Tamil Nadu is leaving no stone unturned in marketing its upcoming global investors meeting on January 7 and 8. While business veterans are promoting the positives of the state's industrial climate through the 'Titans of Tamil Nadu" campaign, the state is narrating the human stories behind its robust industrial growth via the 'One Trillion Dreams' campaign. Among the industry bigwigs, who are showcasing Tamil Nadu to the world through this mega marketing initiative include Venu Srinivasan of TVS Motor Company, K M Mammen of MRF Ltd, Pratap Reddy of Apollo Hospitals, P R Venketrama Raja of Ramco Group, Mallika Srinivasan of TAFE; and Vellayan Subbiah of Murugappa Group.
Indian exporters shipping goods to Israel may face higher insurance premiums and shipping costs due to the Israel-Hamas conflict, according to experts. Israel witnessed a surprise and unprecedented multifront attack by air, land and sea by the Hamas militant group, which rules the Gaza Strip, in its southern parts on Saturday morning. The International trade experts said the conflict may reduce the profits of domestic exporters but will not impact trade volumes unless war escalates.
India is likely to see over 100 mature, large-scale profitable or on the path to profitability startups in the next five years, of which 80 have the potential to go for public listing, market research and consultancy firm Redseer said on Tuesday. Redseer Strategy Consultants, in a report on IPOs, said 20 of the mature startups have gone public so far. "India may see over 100 matured, large-scale profitable/path-to-profitability start-ups in the next five years.
'Even for operational buildings, we are looking to smarten them in various ways.'
The Indian Space and Research Organisation (ISRO) will launch two initial missions later this year under the Gaganyaan programme, followed by country's maiden human space-flight mission in 2024, Union Minister Jitendra Singh has said.
Bringing to the limelight some of the brilliant ideas and innovative projects from campuses is a unique initiative by Startup Village, India's first telecom incubator.
Quick commerce startups hope to race towards better days. Can they crack the execution code?
An Extraordinary General Meeting (EGM) of Byju's shareholders got underway on Friday to vote on a resolution brought by some investors to ouster founder CEO Byju Raveendran and his family over alleged "mismanagement and failures". Raveendran and his family stayed away from the EGM, calling it "procedurally invalid."
Both are designed for safety of women.
Prosus NV, an investor in educational startup Byjus, on Tuesday said the troubled company's reporting and governance structure did not evolve sufficiently for a company of that scale and it "regularly disregarded advice" despite repeated efforts by the Dutch-listed technology firm's former director. Prosus, which this year slashed its valuation of Byju's to $5.1 billion from $22 billion last year, said the decision for its director to step down from Byju's board last month was mainly because he was "unable to fulfil his fiduciary duty to serve the long-term interests of the Company and its stakeholders." In a statement, Prosus said Byju's grew considerably since its first investment in 2018.
About 281 cases have been taken up for investigation by the Directorate of Enforcement regarding suspected violations of foreign direct investment (FDI) norms all over the country during April 2019 to March this year, Parliament was informed on Wednesday. Necessary action as per provisions of Foreign Exchange Management Act, 1999 (FEMA) has been taken, which includes issuance of show cause notices, adjudication and imposition of penalty, Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha. In these cases, following the due process of adjudication, penalties of more than Rs 2,600 crore have been imposed under the FEMA, he said, adding the Reserve Bank of India (RBI) has done compounding of contraventions of FDI related FEMA provisions in total of 1,421 cases across the country during the last three years.
Vetting by inter-ministerial board removed for benefits under Startup India Action Plan
Modi launched a scathing attack on the Congress alleging that the opposition party has become outdated and has always been against any kind of reservation.
More than 60 per cent of shareholders of edutech Byju's on Friday voted for removal of founder CEO Byju Raveendran and his family over alleged "mismanagement and failures" at what was once India's hottest tech startup, but the company dug in its heels, calling the voting done in the absence of founders as "invalid". Prosus - one of the six investors who had called the extraordinary general meeting (EGM) - in a statement said "shareholders unanimously passed all resolutions put forward for vote.
Have the markets already played out their dynamics before the economy has even properly taken off? Are we now destined for a period of mediocre returns despite a strong economy? asks Akash Prakash.
'The deal pipeline across products is robust for 2024.'
Educational technology company Byju's chief financial officer Ajay Goel has quit after completing the audit process for the financial year 2022 and will return to Vedanta, the company said in a statement. The edtech major has roped in industry veteran Pradip Kanakia as senior advisor, and president (finance) Nitin Golani has been given additional responsibility as India chief finance officer (CFO) to handle the finance function of the company.
'Given that the market is now demanding disciplined growth, well-run companies should be able to demonstrate profitability with the cash on hand.'
There's a hint of new competition riding into a sector that has attracted attention for being in a duopoly-like situation. Rapido, a commute app known for its budget-friendly bike-taxi services, on Tuesday announced its entry into the cab market, which is currently dominated by marquee brands Uber and Ola. Rapido's cab foray will be enabled by a software as a service (SaaS)-based platform.
The proposal to merge the Gujarat International Finance Tec-City (GIFT City) units of the National Stock Exchange (NSE) and BSE has reached an advanced stage, and both bourses could file an application before the National Company Law Tribunal as early as this month, according to a top regulatory official. Sources indicate that the merger proposal has received approval from their respective boards. Both the NSE and BSE are arch rivals when it comes to onshore trading.
'Byju's financials only reflect the core business. At a group level, they are experiencing substantial losses.'
Skyroot Aerospace has become the first private company in India to give wings to the Indian space programme, after the sector was opened to private players by the Centre in 2020.
A top management leadership team from SoftBank has been coming to India in the last few days to meet the founders of start-ups and other investors, signalling the country's emergence as a pivotal market for the global investment giant. Based on current estimates, India accounts for nearly 10 per cent ($20 billion) of SoftBank's invested assets under management (AUM) globally. That makes the country its third largest market after the US and China.
'Being financially independent is crucial.' 'This spares women a lot of grief if the marriage, especially in large business families, breaks down.'
Among the 44 per cent of Indian students who have used Gen AI in their studies, 60 per cent say it helps them learn faster, 55 per cent say it allows them more creative use of learning, while 51 per cent say it frees up their time.
The ministry is of the opinion that there is a need for a rigorous regime for large unlisted companies, in contrast with the current "light-touch" regulation. "There is a defined regime for listed companies, by the Securities and Exchange Board of India (Sebi). "There is a view in the ministry that it needs to look at a framework for large unlisted companies," the senior official said.
Byju's plans to raise funds at a lower valuation of $7-8 billion as the embattled edtech major looks to shore up its financials with adequate liquidity, a senior company executive said on Tuesday. Banking on overall "improved performance", Think and Learn, the parent of Byju's, is hopeful of a higher valuation ahead of its rights issue being planned in February to raise funds. Byju's India chief financial officer Nitin Golani said the company is in need of funds and plans to raise it at a lower valuation to make the offer lucrative for investors as well as ensure adequate liquidity support for the edtech firm.
If you are interested in working with OpenAI, feel free to email Sam Altman. In a free-wheeling fireside chat with university students on Thursday in Delhi, the CEO of OpenAI and his team seemed eager to welcome bright young IT practitioners of India into the OpenAI work space. Asked about the steep degree requirements for applying to tech giants such as Microsoft and Google, Altman said that his company was open to hiring undergraduates and even college drop-outs.
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