Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
For India to reach its bold target of having net-zero emissions by 2070, the country's solar power capacity would have to rise to over 5,600 GW, coal use particularly in the power sector will have to drop by 99 per cent by 2060 and crude oil would need to peak by 2050 and fall substantially by 90 per cent in the two decades thereafter, CEEW India has said. Prime Minister Narendra Modi on Monday surprised delegates at the COP26 climate summit with a bold pledge to cutting emissions at the world's third-biggest emitter to net-zero by 2070. Council on Energy, Environment and Water, a Delhi-based not-for-profit policy research institution, said, "The economic cost of India's net-zero 2070 transition (would be) over USD 13,000 billion between 2030 and 2100."
Life insurance companies reported a 17 per cent year-on-year (YoY) drop in new business premium (NBP) in February as state-owned Life Insurance Corporation of India's premiums contracted 32 per cent during this period on account of a drop in its group single premium segment. According to data released by the Life Insurance Council, the industry earned an NBP of Rs 22,847.65 crore in February - a drop of 17 per cent from the same period a year ago.
The people will view it from their viewpoint, their immediate interest, historical experiences, their insecurities, he said.
Given the security dilemma prevailing between India and China, India should curb the operation of Chinese telecom companies in India, asserts Dr Rup Narayan Das.
A yellow glow is likely to stand out amid grey geopolitical clouds in 2023, with gold price projected to touch Rs 60,000 per 10 grams in the Indian market as more investors veer towards safe-haven assets. In a year where volatility was more a norm than an exception, gold prices in the international market oscillated from a peak of $2,070 per ounce in March to a low of $1,616 per ounce in November and is steadily recovering since then, according to market experts. At the beginning of 2022, gold prices were around $1,800 an ounce.
The letter shared with the media on Saturday comes amid Maharashtra losing several big-ticket projects to neighbouring Gujarat.
Five years after USA Cricket shared its plans to launch a domestic T20 tournament, the inaugural edition of the MLC kicked off having assembled an impressive array of investors.
Underlining the importance of having a chief election commissioner who is "independent and a man of character", the Supreme Court on Wednesday wondered will it not be a case of "complete breakdown of system" if the CEC does not act against the prime minister in case there are allegations against him.
'Any entrepreneur who wants to create companies on blockchain will have to move outside India.' 'A ban will also wipe out the entire asset investing class that has built up in India.'
Chandrasekaran, who is the co-recipient of this year's USIBC Global Corporate Leadership Award, also said it is possible to have a limited deal between India and the US before the elections there in November if both sides work together to get something done and not try to solve all issues at once.
'Can Trudeau's evidence hold up? If not, he's finished.'
The new restriction will be challenging for businesses, as they will have to do regular follow-ups with their suppliers.
The Ministry of Ports, Shipping and Waterways has released a draft to amend the Indian Ports Act, 1908, which aims to bring in sweeping reforms in the sector by bringing non-major ports into the national fold, creating a new mechanism for resolution of disputes, and empowering maritime state development council (MSDC). The draft bill will see comments from stakeholders before being tabled in Parliament. "The Indian Ports Act, 1908 is more than 110 years old. It has become imperative that the Act is revamped to reflect the present-day frameworks, incorporate India's international obligations, address emerging environmental concerns, and aid the consultative development of the ports sector in the national interest," the shipping ministry said.
India needs a National Trade Policy Council, chaired by a minister who reports directly to the PM, says Jayanta Roy, former economic advisor to the Union commerce ministry.
'Stand-alone' trip to North American nation and a strong track record in Gujarat open doors to business.
Stating that open markets mean more opportunities, Modi said during the last six years the government has made many efforts to make the Indian economy more open and reform oriented.
Should we not be creating roles in India for the talented, asks Ajit Balakrishnan.
Ajay Banga, the 55-year-old CEO of MasterCard, is on a roll.
Starting the debate on the second day of the ongoing monsoon session, Leader of Opposition Mukesh Agnihotri said the law and order situation in the state has deteriorated under the Bharatiya Janata Party government.
Gold prices hit record high in the third week of March as fears of bank collapses and high inflation led investors to the traditional safe haven. Gold prices are often inversely correlated to dollar strength because the international price is dollar-denominated. The Federal Reserve's (Fed's) stance indicates that the dollar may appreciate further since it is prepared to keep pushing up policy rates. But demand for gold is also up - the World Gold Council claims central banks are buying in addition to private demand.
Only a few thousand chargers dot the Indian landscape, some in working condition, others not, with some held hostage to the power supply vagaries of local utilities, reports S Dinakar.
The average time lag between the date of occurrence of a fraud and its detection is 23 months; for large frauds (Rs 100 crore and above), it was 57 months.
The swashbuckling Surya has been nominated along with England's Sam Curran, Zimbabwe's Sikandar Raza and Pakistan's Mohammad Rizwan for the coveted award.
Indra Nooyi joins several prominent persons of Indian-origin who have donated generously to US universities.
The PM said there was a need to tackle the problem of terrorism in an organised manner.
The group has called for a retaliatory tariff action against India, if New Delhi does not roll back the 'unilateral and discriminatory' equalisation levy or Google Tax.
Gandhi, 47, begins his nearly two-week trip to the US with an address at the University of California, Berkeley, tomorrow on contemporary India and the path forward for the world's largest democracy.
This will be done across five cities - Delhi, Bengaluru, Coimbatore, Bhopal, and Shillong. Thereafter, it will be scaled up and launched in 100 cities over a period of six months, said a senior government official.
The 30-year-old's decision means that she will miss the upcoming edition of The Hundred, where she was due to represent the Trent Rockets.
There is the problem of regions in the North East being theatre for power-play by nations with borders and influences converging in those parts, which in turn requires a sizable presence of the armed forces, notes Shyam G Menon.
The single greatest empowerment to our economic growth as we continue to move towards three per cent or four per cent GDP growth will be the resources that we need to fill hi-tech jobs, advanced degrees, advanced analytics, science and research: Senator Thom Tillis.
Britain favours closer engagement with Gujarat and its Chief Minister Narendra Modi to realize the country's wide-ranging objectives in the state, Prime Minister David Cameron has said.
Sivadasan noted that the post of the governor is being misused by the central government to forward its agenda in the states.
The earliest ones included whistles shaped like birds, toy monkeys that could slide down a string and small carts made from materials found in nature such as sticks, clay and rocks. While there might be no disputing India's rich toy-making tradition, the industry is languishing for lack of investment and technology, and also owing to competition from cheap imports. And though it has been listed among 24 key sectors under the government's Atmanirbhar Bharat Abhiyaan, the question remains: will this push help place it in the global game? Currently, 80-odd per cent of the toys sold in India are imported - nearly 60 per cent of them from China.
According to some media reports, the Modi-Xi informal summit could take place from October 11-13.
Chinese Foreign Minister Wang Yi arrived in India Thursday evening in the highest-level visit between the two countries after the ties came under severe strain following the eastern Ladakh standoff nearly two years ago.
India Inc on Thursday pitched for continuation of reforms while ensuring tax and policy stability in the forthcoming Budget to prop up the economy hit hard by the COVID-19 pandemic. In the virtual pre-Budget consultation held with Finance Minister Nirmala Sitharaman, industry chambers said that government measures will help firmly entrench the nascent signs of recovery being currently seen in private investment. Capital expenditure by the government through enhanced infrastructure spending should in the meantime continue to support growth, CII president TV Narendran said.
Chinese foreign policy will acquire a more ideological and less pragmatic character. It will be conducted with more nationalist overtones, predicts former foreign secretary Shyam Saran.
