'Yet the market didn't do all that badly because it was cushioned by domestic inflows.'
India overtook China to add the most number of new unicorns--start-ups valued at $1 billion or more--in the first half of 2022 despite a funding winter haunting entrepreneurs in the south Asian nation. India added 14 new unicorns in the period (H1 2022) and China had 11, according to the Hurun Global Unicorn Index 2022. The US led the ranking by adding 138 start-ups in the unicorn club.
In an army that favours officers who have spent the bulk of their service years doing counter-insurgency operations in Jammu and Kashmir, General Anil Chauhan is that rarity: A China specialist who has logged plenty of service years along the Line of Actual Control and the McMahon Line with China.
The Asian Development Bank (ADB) on Wednesday slashed India's GDP growth forecast for FY23 to 7 per cent from the earlier estimate of 7.2 per cent mainly on account of higher inflation and a tight monetary policy. India's economy grew 13.5 per cent year-on-year in the first quarter of 2022-23, reflecting strong growth in services, ADB said in its second supplement to Asian Development Outlook Report 2022 (ADO 2022). "However, GDP growth is revised down from ADO 2022's forecasts to 7 per cent for FY2022 (ending March 2023) and 7.2 per cent for FY2023 (ending March 2024) as price pressures are expected to adversely impact domestic consumption, and sluggish global demand and elevated oil prices will likely be a drag on net exports," ADB said.
India's GDP expanded 13.5 per cent in the April-June quarter, the quickest pace in a year, to retain the world's fastest growing economy tag but rising interest costs and the looming threat of a recession in major world economies could slow the momentum in the coming quarters.
The number of serious incidents has more than doubled in the last seven years.
Is self-reliance the right approach in a mega-buck game, or better to be part of a network? asks T N Ninan.
The country's demographic dividend is dissipating, with seriously adverse consequences for young India, asserts Shankar Acharya, former Chief Economic Adviser to the Government of India.
After 2014, our growth has been average of around 5%. If this continues, we will remain here like Egypt, Brazil, South Africa and Bangladesh, points out Aakar Patel.
According to reports, the Formula Regional Championship is believed to be a bridge between F4 and F3.
Jobs in HR, administration and recruitment have seen a substantial rise as per Monster data with a 42% growth in job posting activity.
Without naming India, S&P said it expects that in regions where inflation already exceeds targets, or which are vulnerable to capital flight, central banks will be forced to raise interest rates.
The windfall tax on oil produced within India and fuel exported overseas will make up for more than three-fourths of the revenue that the government lost when it cut excise duty on petrol and diesel to cool soaring inflation, industry sources said. India on July 1 joined a select league of nations globally that have taxed windfall gains accruing to oil companies from soaring energy prices. The government slapped a Rs 6 per litre tax on the export of petrol and jet fuel (ATF) and Rs 13 a litre on the export of diesel effective July 1. Additionally, a Rs 23,250 per tonne tax was levied on crude oil produced domestically.
'... as has been happening in the last three weeks, then the foreign exchange reserves will not be comfortable to ensure that the rupee does not fall drastically.'
India is much better placed today to deal with future waves of the pandemic relative to the first wave, RBI deputy governor Michael Patra said.
If you love India, you cannot weaponise religion to stay in power, asserts Ramesh Menon, author, Modi Demystified: The Making Of A Prime Minister.
IT spending in India is expected to touch $101.8 billion in 2022, up 7 per cent from this year, according to research firm Gartner. India's information technology (IT) spending across areas like communication services, data centre systems, IT services and software is expected to grow 10.8 per cent to $95.1 billion in 2021 from $85.8 billion in the preceding year. Gartner Research vice-president Arup Roy said, "The digital transformation trajectory that began as a pandemic response is here to stay for the next few years. "India has experienced one of the fastest recoveries despite being one of the worst-hit regions in the second wave of the pandemic in early 2021."
India's largest online travel agency, MakeMyTrip said that it is premature to assess the impact of Omicron variant on overseas tour bookings. Others in the travel sector however are worried about cancellations in the coming days as countries tighten travel restrictions. "It is too early to assess the impact of the new Covid-19 variant on outbound travel. "Additional protocols are already set in any case from several countries which will help contain the variant coming to India.
Tiwary, who coached India at the Rio Olympics, suffered the stroke on Wednesday morning and CT scans revealed multiple blood clots in his brain.
India has a history of jugaad, and retrofitting vehicles is one such manifestation of the legendary Indian skill. Not so long ago autorickshaws and small Marutis used to strap on subsidised LPG cylinders and power themselves to a cheap ride. There were the odd explosions, lives were lost, but the jugaad continued. Then compressed natural gas (CNG) was introduced in Delhi following a court order. Initially, customised CNG kits were fitted to conventional (internal combustion engine or ICE) autos cheaply, enabling commuting at less than half of what you would cough up for diesel. The industry is better organised now with Suzuki and Hyundai designing CNG-fired vehicles, and Mahindra and TVS manufacturing liquefied petroleum gas (LPG)-powered three wheelers.
India will have 1 billion smartphone users by 2026 with rural areas driving the sale of internet-enabled phones, a Deloitte study said on Tuesday. India had 1.2 billion mobile subscribers in 2021, of which about 750 million are smartphone users. It is poised to be the second-largest smartphone manufacturer in the next five years. "The smartphone market is expected to reach 1 billion smartphone users by 2026," according to Deloitte's 2022 Global TMT (Technology, Media and Entertainment, Telecom) predictions.
Hinting at further relaxation in the capital account convertibility norms, RBI Deputy Governor T Rabi Sankar on Thursday said the country is on the cusp of some fundamental shifts with regard to currency management. India has come a long way in achieving increasing levels of convertibility on the capital account and has broadly achieved the desired outcome for the policy choices in terms of achieving a stable composition of foreign capital inflow, Sankar said while addressing the Foreign Exchange Dealers' Association of India's (FEDAI) annual day meeting. Convertibility refers to the ability to convert domestic currency into foreign currencies and vice versa to make payments for balance of payments transactions.
Mithali Raj said that she has never felt the need to forego a press conference
More and more PE players are willing to test the waters now, just in case they become early entrants in a future booming business.
India's hiring rate has recovered moderately from 10 per cent in April to 35 per cent in May 2021, but the aftermath of the second COVID-19 wave has left professionals in India increasingly vulnerable to the economic uncertainty, as per LinkedIn data. India's hiring rate on LinkedIn dropped from 50 per cent in March 2021 to 10 per cent in April 2021. The hiring rate witnessed a modest revival to 35 per cent in May 2021, as localised curfews gradually lifted and economic activity partially resumed.
Any player with a Chess.com blitz or FIDE standard rating of under 2000 could play with former world champion Anand by donating US$150 and with the other four GMs by paying US$25 as registration amount.
The groups plan to take on well-entrenched players like Amazon, Flipkart, and Paytm by merging their offline businesses with e-commerce initiatives.
The Asian Development Bank has downgraded India's economic growth forecast for the current financial year to 10 per cent on Tuesday, from 11 per cent projected in April, on account of the adverse impact of the coronavirus pandemic. India's GDP growth recovered to 1.6 per cent in the last quarter of fiscal year ended March 2021, narrowing contraction in the whole fiscal year from 8 per cent estimated in April to a revised 7.3 per cent, the multilateral funding agency said in the Asian Development Outlook (ADO) Supplement. "Then a second wave of the pandemic induced many state governments to impose strict containment measures.
As India goes into firming up trade deals with developed nations like Australia, the United Kingdom (UK) and the regional bloc, and the European Union (EU), it will have to be well prepared to negotiate on new-generation issues, such as data protection regulation, e-commerce, and environment. India is yet to negotiate pacts with its trading partners on these evolving issues since discussions between them have until now been largely focused on tariff and non-tariff barriers and the rules of origin. "We can no longer look at trade just as trade. We have to look at it in totality of global and regional conditions.
India Inc has weathered many a storm during Covid-19: from supply chain disruptions to demand dips, steep increase in input costs to shortage of key raw materials. As most companies navigated unprecedented challenges on multiple fronts, realisation dawned also about the criticality of employee welfare in the survival of the business. And it was the human resources (HR) department that faced the greatest test on this front.
The installation is made up of over 500 tennis rackets forged in weather-proof, chrome-plated stainless steel.
India is ready, after battling the pandemic for two years, to travel once again.
India's growth projection released by the latest World Economic Outlook remains unchanged from its previous WEO (World Economic Outlook) update of July this summer but is a three-percentage point in 2021 and 1.6 percentage point drop from its April projections. According to the latest WEO update, released ahead of the annual meeting of the IMF and the World Bank, the world is expected to grow at 5.9 per cent in 2021 and 4.9 per cent in 2022.
India's traditional companies are now moving full scale into the renewable and alternative energy space that had been dominated by smaller players over the past decade. Companies such as government-owned NTPC and the Adani and the Tata groups restructured their businesses well in time to become major players in the green space. At the same time, other conventional companies, such as Larsen & Toubro and Reliance Industries Ltd (RIL), which have a presence both in the energy sector as well as myriad other activities - construction, technology and retailing - are tying up with new-age companies to hitch a ride to a greener path.
India's chess maestro Viswanathan Anand along with Koneru Humpy, Dronavalli Harika, Nihal Sarin and Rameshbabu Praggnanandhaa will be offering simultaneous exhibitions on Chess.com to support COVID-19 relief in India on Thursday.
Assets under management of India-dedicated funds have slid 20 per cent in the year to November to $35.2 billion.
India's largest garment hub Tirupur continues to reel from the effects of the pandemic, with almost 10 per cent of its orders for the upcoming season getting diverted to Bangladesh, Vietnam, Cambodia and China. The sector had seen a drop of about 9 per cent in exports during the first wave, but the impact is likely to be more this time, according to industry experts. Being one of the epicentres of Covid cases in the state, a majority of manufacturing units in the textile belt were closed for almost six weeks during the second wave.
From Belarus to Bangladesh, authorities in 29 countries shut down or interfered with the internet at least 155 times in 2020.
The purchase or construction of houses by large numbers of people can add meaningfully to India's economic growth, points out Neelkanth Mishra.
Mahindra's LSV is an extremely agile combat vehicle with all round protection against small arms fire.
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