Prime Minister Narendra Modi on Sunday called for a global framework for ethical use of Artificial Intelligence (AI) as he flagged concerns surrounding bias in such modern technologies and their impact on the society. Days ahead of the G20 Summit, the prime minister also made a strong case for developing an integrated approach to deal with issues concerning cryptocurrencies. Modi, addressing B20 Summit India 2023 organised by CII, said India is preparing a global framework for Green Credit and urged industry leaders to adopt life and businesses with emphasis on planet positive actions.
The country's largest lender SBI on Saturday reported a 9.13 per cent rise in consolidated net profit to Rs 16,099.58 crore for the September quarter, weighed down by money it had to set aside for employees' impending wage and pension revisions. On a standalone basis, the State Bank of India (SBI) had a 8.03 per cent increase in the profit after tax for the reporting quarter at Rs 14,330 crore. However, the same was down 15.13 per cent compared to Rs 16,884 crore in the June quarter.
'It was my late husband Durga Soren (Hemant Soren's elder brother) who built the party and strengthened it.' 'It was due to his strengthening efforts that we have today a JMM government in the state.'
Baramati Agro works in the fields of animal and poultry feed manufacturing, sugar and ethanol manufacturing, co-generation of power, trading of agri-commodities, fruits and vegetables and dairy products.
Hailing India and the UAE as "partners in progress", Prime Minister Narendra Modi on Tuesday said the ties between the two countries serve as a model for the world and they are scripting a new history in the third decade of the 21st century.
In the midst of third wave of COVID-19, Finance Minister Nirmala Sitharaman has come up with an impactful Budget which is balanced, fiscally prudent and growth-oriented, the USA India Chamber of Commerce has said. President of the Boston-based USA India Chamber of Commerce (USAIC) Karun Rishi, however, said it is a matter of concern that the budget lacks tangible measures to increase revenue generation. "Opting to keep the fiscal deficit at 6.9 per cent and increase capital expenditure by 35 per cent is a masterstroke. "The annual budget estimates the effective capital expenditure of Rs 10.68 lakh crore in 2022-23, making up about 4.1 per cent of the GDP," he said. "A phenomenal increase in the government's capital expenditure is likely to facilitate the expenditures on infrastructure and create jobs.
Post DeMo and GST, business outlook remain diminished among both buyers and sellers
India is one of the five countries where instances have been found that trade accounts of diamond business are being used to launder illegal funds to the tune of millions of dollars, according to a report by a global financial crimes combating body.
If Modi wants to leave a real legacy, breaking India's strategic triangulation would be the real gift, notes Shekhar Gupta.
The total number of unique investors directly investing in the stock market has surged to 80 million for the first time, with the latest 10 million additions taking place in just eight months, according to data shared by the National Stock Exchange (NSE), the country's largest bourse. "The 80 million unique PAN (permanent account number) investors correspond approximately to around 50 million unique households in India amounting to around 17 per cent households directly investing in the Indian stock market via NSE's extensive nationwide network of trading members," said the exchange. In 2021, the number of domestic households were pegged at 300 million.
Modi called business communities and governments to work together to ensure usage of ethical AI as "we have to sense the potential disruptions in different sectors. This problem has to be solved under the global framework."
India and Russia are planning to hold an unprecedented business summit in February next year to explore ways to boost bilateral trade to $10 billion in the coming three years, Indian ambassador Kanwal Sibal said in Moscow.
'Historically, equities have consistently outperformed debt, gold, property, and other assets over a reasonable period.'
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
He praised the "very bold move" taken by China's central bank to stop financial transactions with North Korea.
China had been trying hard to enter the Indian market, without opening its own to Indian products. There is an economic crisis in India-China relations that the Chennai Connect barely scratched the surface, points out Srikanth Kondapalli.
Kerala's election discourse operates surreptitiously. Its explicit face focuses on important national and local issues. At the same time, it seeks to secure apt communal equations to ensure votes, notes Shyam G Menon.
The UK has responded to PM Modi's call to 'Make in India' by launching great collaborations in January 2015.
The effort is to make the PM's interaction with the diaspora at Abu Dhabi's Sheikh Zayed Sports city stadium on February 13 the largest he has addressed.
The lawmakers from the US State of Washington have urged the Biden administration to help remove or reduce the tariffs on American apples imported to India as the country's fruit industry has incurred significant losses due to New Delhi's retaliatory measures. In a letter to US Trade Representative Katherine Tai and Commerce Secretary Gina Raimondo, all members of the House of Representatives from Washington State and other two senators said the tree fruit industry suffered losses due to India's retaliation to US tariffs. On average, 30 per cent of the apples, cherries, and pears produced in the Pacific Northwest are exported and India was once a strong market.
USIBC wants Obama to raise America Inc's concerns with Manmohan Singh.
The move will help industries in pushing authorities for exemption under various labour laws at a micro-level, along with demanding changes to bring greater flexibility in their operations related to retrenchment, safety standards, and collective bargaining.
Categories such as washing machines, refrigerators and television sets have seen sales growth of around 8-10 per cent in August compared to last year, industry sources said, with September also reporting a similar growth trajectory.
If the war in the Israel-Gaza region escalates into a larger West Asian conflict, it could pose problems.
'Anyone can string together a few alliterative words, but are they a substitute for serious thought?' 'And do they make for a strategy or plan for coherent action?' asks T N Ninan.
Bootstrapping has put Nithin Kamath of Zerodha in a position where he can trifle with talk about valuation, points out Suveen Sinha.
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India Inc raised various issues to increase trade flows in sectors like pharmaceuticals, banking, energy and infrastructure
Xi will later head for New York to attend the UN General Assembly session.
Jio Financial Services, a unit of Mukesh Ambani's Reliance Industries (RIL), got valued at Rs 1.66 trillion ($20 billion) following an hour-long special trading session conducted by stock exchanges on Thursday. Shares of RIL's unit got priced at Rs 261.85 apiece - higher than analysts' expectations of Rs 134-224 per share. The price was arrived at after calculating the difference between RIL's Wednesday (July 19) close of Rs 2,840 and Rs 2,580, the price discovered during the first-of-its-kind pre-trade session.
A federal body began a hearing on the impact of Indian trade policies on US businesses wherein American bodies and advocacy groups slammed India for its trade practices, alleging they hit their jobs and business.
Tata Group is set to become India's first homegrown iPhone maker after Taiwan's Wistron Group agreed to sell a plant in Bengaluru to India's largest conglomerate. Wistron's board approved the sale of Wistron InfoComm Manufacturing (India) Private Ltd to Tata Electronics for $125 million, the Taiwanese electronics manufacturer said in a statement on Friday. The unit operates an iPhone assembly plant near Bengaluru.
An agreement to expedite the Jaitapur nuclear plant was expected to be signed.
Trade between China and ASEAN nations is expected to touch $ 300 billion this year, registering a 37.5 per cent increase on the back of a Free Trade Agreement (FTA) between the two sides, said the executive secretary general of China-ASEAN Business Council.
Wayanad will continue to support Rahul but not to the same extent as in 2019, when his margin of victory had been enormous. Articulate, to the point and speaking in fluent Malayalam, CPI's Annie Raja, had the people who gathered to see her, listening in rapt attention, notes Shyam G Menon.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
'Biden's promise of returning to 'normalcy' after Trump appears to mean that the same old politicians, who are responsible for the 'endless wars' in Afghanistan, Iraq and Syria, are being brought out of the woodwork after four years,' notes Ambassador M K Bhadrakumar.
Bajaj Finserv, ICICI Bank, Nestle, UltraTech Cement, Bajaj Finance, Maruti, Tata Consultancy Services, IndusInd Bank and State Bank of India were the major laggards. Infosys, JSW Steel, NTPC and Power Grid were the gainers.
Spain will soon open a trade and tourism office in Mumbai with an eye on improving bilateral economic relations with India.
India remains North Korea's 2nd-largest import source after China, according to several estimates by multilateral bodies, says Subhayan Chakraborty.
US companies and lawmakers had urged Kerry to talk tough on policies regarding India's rejection of patent suits.
