The Indian economy can contract by 7.7 per cent in current financial year ending on March 31 and the growth could be 11 per cent in the next financial year, according to the Economic Survey tabled in Parliament by Finance Minister Nirmala Sitharaman. The contraction in FY21 is mainly due to coronavirus (Covid-19) pandemic and the visible damage caused by the subsequent countrywide lockdown to contain it. The survey unveiled two days before the Union Budget is broadly in line with forecasts by the Reserve Bank of India (RBI) which has said it expected the country's GDP to contract by 7.5 per cent in the year ending March 31.
'India needs offensive and defensive security measures to protect itself.'
While there were concerns about the security aspect of drones, top government officials were of the view that restricting the drone industry would stifle a sunrise sector which holds significant promise for future, reports Arindam Majumder.
'The government should put the whole road map together for the vaccine and decide how industry can support...' 'They should allow the private sector to vaccinate.'
71 districts reported Covid case positivity rate of more than 10 per cent in the week from June 23 to 29, the government said, adding that the second wave of COVID-19 is not over.
India on Monday joined a US-led initiative to set up an Indo-Pacific Economic Framework to bind partner countries to achieve common goals, with Prime Minister Narendra Modi asserting that New Delhi will work with the stakeholders to make it an "inclusive and flexible" structure to pave the way for development, peace and prosperity in the region.
'Not a single bullet was fired, but we were warning the enemy not to continue with their antics!' IAF Veteran Air Commodore Nitin Sathe finds out how the Light Combat Helicopter, which will be inducted into the IAF on October 3, was designed, developed and flown.
Reliance Industries Ltd on Thursday announced a Rs 75,000 crore investment in new energy business over the next three years as the operator of the world's largest oil refinery pivots towards a greener and cleaner version. Reliance will build solar manufacturing units, a battery factory for energy storage, a fuel cell-making plant and an electrolyzer unit to produce green hydrogen as a part of the business, chairman Mukesh Ambani said at the company's annual general meeting with shareholders on Thursday. It will also set up 100 gigawatts (GW) of solar power generation capacity by 2030 and invest in setting up a carbon fibre plant.
Some states have flagged the shortage of vaccines and expressed their inability to start vaccination of people above 18 years from Saturday
Surajeet Das Gupta explains why Mukesh Ambani's target is by no means impossible.
Bhavish Aggarwal, the founder of ride-hailing firm Ola who disrupted the electric scooters market in the country, is planning to launch an electric sports car in 2024. The plan will put it in competition with Indian players, such as the Tata group and Mahindra & Mahindra, and global giants like Tesla and Hyundai. Aggarwal, recently, took a group of reporters to the firm's design studio at the Ola campus in Bengaluru where his teams are working on several EVs, including scooters, motorcycles, sedans, and SUVs - and even robotaxis.
Exasperated by frequent labour strikes, the Tamil Nadu government has decided to give public utility status to Auto components makers. A move that has left labour unions fuming since, now, they won't be able to go on strike without issuing a notice of six weeks in advance.
The 15 choppers that met with accidents included four Advanced Light Helicopter (ALH), four Cheetah, two ALH (weapon system integrated) versions, three Mi-17V5, an Mi-17 and a Chetak.
The Bengal outcome can have a marginal impact on national politics. Whereas elections in UP next year might still change the course ahead of the parliamentary poll in 2024, observes Virendra Kapoor.
IT major Tata Consultancy Services (TCS), in its Q4FY22 results, said the company's banking, finance services and insurance (BFSI) crossed the $10 billion milestone. This includes revenue from financial products, services and platforms. For Suresh Muthuswami, who recently took over as Chairman of North America, one of the focus will be to grow this percentage going ahead. The first step to grow the US market is hiring. Muthuswami said that the company will be hiring more in the US, especially from the campuses. In FY22 TCS hired over 7,000 people in the US and going ahead too the numbers will be similar.
The defence ministry on Thursday sealed a contract to procure 118 main battle tanks Arjun for the Indian Army at a cost of Rs 7,523 crore, in a major move to boost its combat capabilities.
HAL is also integrating the Advanced Short Range Air-to-Air Missile onto the Mark 1A. Each Tejas will carry two of these missiles.
Amazon
'It is going to be extremely rapid and anybody who is not there, be it investor, manufacturer, supplier, will miss out.'
'Now that an extremist organisation like the PFI has been banned, it is time for the leaders to reach out to the minority community.' 'You need to have co-ordination between the State and the social fabric to send out the message that it is not directed at the community, and they should not feel vulnerable.'
L&T set up the Armoured Systems Complex to manufacture and integrate advanced armoured platforms, such as self-propelled artillery Howitzers, future infantry combat vehicles, future-ready combat vehicles and future main battle tanks.
Dandekar is a former Iowa legislator representing the Marion area in the Iowa House of Representatives from 2003 to 2009 and in the Iowa Senate from 2009 to 2011.
Beside manufacturing, deceleration was also witnessed in sectors like agriculture, construction and electricity, gas and water supply.
The Congress has alleged that the Gujarat government was playing with the lives of coronavirus patients to promote 'Dhaman-1' ventilators made by a firm `owned by Chief Minister Vijay Rupani's friend'. The ruling Bharatiya Janata Party called the allegations levelled by the Congress on Thursday as baseless and said the opposition party was maligning the image of a local manufacturer.
'Whoever owns the best chip industry will be the Saudi Arabia of the era of data,' predicts Rajeev Srinivasan.
'All Shatabdis and Rajdhanis should be converted to this type of high-speed train.' 'There should be a sleeper version of the train.' 'Right now, there is only a day version of the train.' 'Unless you develop a sleeper version, it will not be possible to replace the Rajdhani.' 'Work on the sleeper version was stopped for some reason. It should be revived now.'
Access to India's defence market must be made conditional -- available only to those who are ready to make a long-term commitment in India, argues Ajai Shukla.
SII's CEO Adar Poonawalla took to Twitter to announce the "philanthropic" gesture.
'I'll give it to the vaccine manufacturers without guarantees, take the payment in advance and give me the supplies.' 'The moment you give me one lot of supply, I'll give you more.'
International Monetary Fund Chief Economist Gita Gopinath tells Indivjal Dhasmana high-frequency indicators for the third quarter of 2021 indicate momentum in economic recovery in India.
The Indian IT companies, which account for a large number of H-1B applications, are likely to face the additional financial burden because of this proposed increase in H-1B filing fees.
In a series of tweets, Modi said he also thanked Harris for all the support and solidarity from the US government, businesses and the Indian diaspora.
