On the back of rising crude oil purchases, India's bill for imports from sanctions-hit Russia jumped 3.5 times in a year in April to $2.3 billion, showed data from the commerce ministry. In April, India's crude oil imports from Russia were valued at $1.3 billion, 57 per cent of India's total inbound shipments from Russia. Other major imported items during the month included coal, soybean and sunflower oil, fertilisers, and non-industrial diamonds. That month, Russia was also the fourth-largest crude petroleum supplier to India, after Iraq, Saudi Arabia, and the United Arab Emirates (UAE).
For the fiscal year ending March 31, India's GDP growth was 5 per cent, down from 6.2 per cent the previous year.
Minister of State for External Affairs Vinod Khanna will lead the Indian delegation to the World Economic Forum extraordinary annual meeting in Jordan from June 21-23.
The government is committed to restricting fiscal deficit at 5.3 per cent of GDP this financial year and has no immediate plans to go for additional market borrowings, a senior government official said.
A report on countries with best financial system in the world based on seven parameters including - institutional environment, business environment, financial stability, banking financial services, non-banking financial services, financial markets, and financial access.
India lacks behind and ranks 78 out of 122 countries that were assessed.
They are sceptical about execution of recent reforms govt has announced.
Projecting India as the land of biggest opportunities globally, Prime Minister Narendra Modi on Saturday promised the business sector facilitation, reforms, a stable policy regime and high growth. Addressing the ET World Leaders Forum, Modi, in turn, asked investors to commit to innovation, performance, positive disruption and high-quality products, as he stressed that the country respects wealth creators.
Asia's richest man Gautam Adani, besides looking at opportunities to expand his vast empire, is hooked on ChatGPT - the programme that trawls vast amount of information to generate natural-sounding text on virtually anything - from crafting jokes to writing ad copy, debugging computer code, to even generating poems and essays. Adani, whose conglomerate has in recent years diversified from mines, ports and power plants into airports, data centres and defence, penned musing from his visit to Davos to attend the World Economic Forum meeting. "From a meetings perspective, this was perhaps my busiest WEF as I met over a dozen heads of states and several business leaders," he wrote on LinkedIn, talking of new geopolitical couplings, climate change and tight-lipped evangelists and AI.
Pratip Chaudhuri, SBI chairman, feels that the airlines should bring the amount to the table.
'The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there.'
Southern states will soon sell non-prescription drugs in post offices.
The churn in Indian labour markets will be led by technology-driven sectors like artificial intelligence and machine learning (38 per cent), followed by data analysts and scientists (33 per cent) and data entry clerks (32 per cent).
With consumers going the healthy way, PepsiCo decided to transform its portfolio from 'fun-filled' to 'good-filled' products, the beverages major's chief Indra Nooyi, Chairman and CEO of PepsiCo, said on Friday.
Despite the robust growth in this country, Apple's India share in its overall global sales remained modest -- constituting 1.5 per cent of its overall turnover of $389 billion in FY23.
A government that limits its role to regulation would be a great enabler for agricultural growth.
The United States on Monday ruled out cutting farm subsidies unilaterally, but said it was open to talks on the subject with a view to restarting the Doha Round of negotiations at the World Trade Organisation.
Pakistani cricketer-turned-politician Imran Khan on Wednesday said time was up for trying to solve Indo-Pak issues through "militancy and militarily" but asserted that unless Kashmir issue was resolved, there was "always a possibility" of Mumbai-like attacks.
"We are seeing an uptick. There is a lot more clarity and certainty about projects and decision cycles. I'm quite positive and companies are wanting to adopt technologies and are making decisions," TCS chief executive officer and managing director N Chandrasekaran said on the sidelines of World Economic Forum on India in Gurgaon.
The Geneva-based World Economic Forum would be playing host to 1,400 from top 1,000 companies around the world, 30 heads of states or governments, renowned academicians, artists and the faith leaders, including head of the Chinmaya Mission in New Delhi.
Amid rising geopolitical risks, a vast majority of Indian CEOs have indicated in a survey that they are reducing or planning to reduce operating costs, even as they are more upbeat than their global peers on their country's economic prospects. However, most of the companies do not plan to cut their headcount or salaries, found the annual Global CEO Survey released by consultancy giant PwC here on the first day of the World Economic Forum meeting on Monday. The survey also found that about four in ten CEOs (40 per cent of global and 41 per cent of India respondents) do not expect their companies to be economically viable in 10 years if they continue on their current path.
The 20th India Economic Summit, the annual event organised by the World Economic Forum and Confederation of Indian Industry, will see a large turnout of foreign investors and delegates this year.
India is among the worst-ranked countries when it comes to taxation and inflation burden on economy, as also in terms of the negative impact of crime, terrorism and health hazards on business environment, a WEF report said.
The WEF meeting is crucial because of its theme encompassing globalisation at the time of rising nationalism and trade war, and the fourth industrial revolution due to rapid strides being made in robotics and artificial intelligence.
A discussion on reviving Indian economy at the World Economic Forum turned into a war of words between Law Minister Ashwani Kumar and Bajaj Auto chairman Rahul Bajaj over the functioning of government.
The annual Edelman Trust Barometer report, released every year during the World Economic Forum's Davos summit, also showed that business has replaced government as the most trusted and is now followed by government and media in that order.
Next week, the government is auctioning spectrum at a minimum bid price of Rs 14,000 crore for 5 MHz of airwaves for all the country's 22 telecom zones.
When European debt and sovereign crisis is giving anxious moments to multi-national CEOs, India's HCL Technologies is bullish on the continental Europe, aiming to get one-third of its revenue from the region.
India will press for greater market access for developing countries in the services sector besides highlighting concerns in agriculture and industrial goods negotiations at the World Trade Organisation mini-ministerial on Saturday at Davos.
An 80-member strong Indian delegation from the Confederation of Indian Industry will participate in the World Economic Forum's Annual Meeting in Davos, Switzerland, from 23-27 January 2008.
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Making a strong pitch before foreign investors at the World Economic Forum, Andhra Pradesh Chief Minister Chandrababu Naidu said the state offers great opportunities in areas ranging from technology to tourism to infrastructure to oil refineries.
He feels that the reserve price set by the government for the 2G spectrum auction was very high.
State Bank of India Chairman O P Bhatt says the bank did differ with the Reserve Bank of India's views on a host of issues, but it was unfair to blame the country's largest bank for taking care of the interests of the aam aadmi (common man).
