India offers policy stability, transparency and consultative process of governance to incubate investment, Finance Minister Nirmala Sitharaman said on Thursday as she invited investments in prospecting energy resources in the country. Stressing that there is a need for investments in coal, she said, "We need greater investments also to help in gasification of coal. I invite all of you to energetically participate in the (sixth round of commercial mines) auction processes which have been launched today and keep your options also further extended for greater extraction of minerals in India." During this 'Amrit Kaal', India needs all the basic minerals as the country is in the process of rapid growth, she added.
About 60 per cent of Indian private insurers believe there has been a significant rise in insurance-related frauds, and as risks lurk there is an immediate need to consider a proactive fraud risk management framework, a Deloitte survey said on Thursday. Insurance companies in India have experienced a rise in fraud instances in life and health insurance, and increased digitisation, remote working post pandemic and weakened controls are key factors contributing to frauds, according to Deloitte's Insurance Fraud Survey 2023. "About 60 per cent of survey respondents believe that there has been a significant rise in fraud, while further 10 per cent experienced a marginal increase," the survey said.
Around 58 per cent of developers expect housing prices to increase this year because of rise in input costs, while 32 per cent builders feel it will remain stable, according to a survey. According to the 'Real Estate Developers Sentiment Survey', by Realtors apex body CREDAI, real estate consultant Colliers India and property research firm Liases Foras, 43 per cent of developers expect residential demand to remain stable in 2023, while 31 per cent feel the demand would increase up to 25 per cent. As many as 341 real estate developers from various parts of the country participated in the joint survey conducted during the last two months.
Switzerland has been facing international pressure as countries step up efforts to curb illicit fund flows.
Breaking his silence over the demonetisation issue, RBI Governor Urjit Patel on Sunday said the central bank is monitoring the situation on a daily basis and taking all necessary actions to "ease the genuine pain of citizens" with a clear intent to normalise the things as early as possible.
People depositing money with banks in legal tender are allowed to withdraw the equivalent amount without any restriction.
British Indian think tank 1928 Institute organised a special roundtable entitled 'India and the Indo-Pacific' bringing together the High Commissioners of India, Bangladesh, Australia, Canada, Nepal, among others, ahead of the reception in the River Room of the House of Lords on Monday evening.
Singh made the remarks while addressing a "CEOs' Roundtable" at the 14th edition of Aero India at the Yelahanka Air Force station complex on the outskirts of Bengaluru.
Mhambrey said while the bowlers will get some rest in days leading up to the WTC final, the group is determined to extract the maximum benefits from the training sessions.
Investors' confidence has been revived in recent weeks on the likelihood the elections will usher in a new government.
Indian start-ups breathed a sigh of relief after the UK government facilitated the acquisition of the now-defunct Silicon Valley Bank's (SVB's) British arm by HSBC. In a bid to allay fears, the US Federal Deposit Insurance Corporation (FIDC) announced recently that it had transferred all deposits of start-up-focused SVB to a newly created bridge bank and all depositors would have access to their money. President Joe Biden also sought to reassure jittery depositors that they can have confidence that the US banking system is "safe".
Modi also virtually flagged off a new train between Antagarh in Kanker district and Raipur and kickstarted the distribution of cards of the Centre's Ayushman Bharat scheme to beneficiaries in the state.
Manufacturing activities in India touched a three-month high in March boosted by faster expansions in new orders and output amid demand resilience and easing of cost pressures, according to a monthly survey. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose from 55.3 in February to 56.4 in March, signalling the strongest improvement in operating conditions in 2023 so far. The March PMI data pointed to an improvement in overall operating conditions for the 21st straight month.
He observed that the 21st century India belongs to wealth and job creators and innovators, who are the country's true strength.
Kerala Governor Arif Mohammed Khan, Chief Minister Pinarayi Vijayan and Congress MP Shashi Tharoor were also present with the PM as he interacted with the students inside the train.
No longer a discretion of the tax administrator, the audit of returns filed by taxpayers is now based on a selection by algorithms, notes Tarun Bajaj.
A key feature of the new version is to identify the people transacting on its portal by linking each user ID with the person's permanent account number (PAN), followed by a two-factor authentication through mobiles and email IDs. Those who cannot complete the KYC requirements cannot use the portal.
The re-opening of the Chinese economy, as it moves away from its zero-Covid policy, could help stabilise commodity prices, according to some of the country's top metal companies. They view this as a positive for demand, at a time when markets such as the US and Europe have been largely weighed down by slowdown concern now. "Most of us in the metals business are hoping the Chinese economy picks up because half of any metal demand, including demand for aluminium, comes from China.
Only five of India's top 20 car models have seen a reduction in wait times over the past year.
With the recovery of more bodies, the death toll in riot-hit Muzaffarnagar and adjoining areas touched 47 while the curfew was eased in the city for the fourth consecutive day.
Modi assured US investors that in the next six months, he would implement all the things necessary for ease of business in the country.
'India has always been a bottom-up stock-picking market, and as growth recovers with higher liquidity, mid and small-caps always tend to outperform.'
Domestic-focused agricultural chemical (agrochem) companies could face near-term headwinds, given the worries on the El Nio effect on monsoons, higher inventory, and pressure on margins. Some of these were reflected in the October-December quarter (third quarter, or Q3) results of companies and may impact them in the current quarter (fourth quarter, or Q4) as well. Nuvama Research pointed out that the sector witnessed mixed performance during the quarter as global agrochem and domestic fertiliser companies maintained growth momentum, while adverse agronomical conditions and excess channel inventory weighed on domestic market volume offtake.
The postponement of the Tokyo Olympics has disappointed athletes around the world but, if the coronavirus pandemic eases over the next few months, it could turn out to be a blessing for the tennis world.
There has not been a large impact of untimely rain and hailstorm so far in several major wheat-growing areas, and those might have damaged around 3 per cent of the standing crop -- not enough to make a big dent in the expected 112 million tonnes of production in FY24, a senior government official said on Tuesday. Relentless rain pounded most North Indian states all through March. Separately, the chairman of Food Corporation of India (FCI), Ashok K Meena, told reporters the agency was on track to achieve the targeted 34 million tonnes of procurement in FY24 on the back of a strong start to the purchase season from Madhya Pradesh.
The Central Drugs Standard Control Organisation said while the rights, safety, and well-being of trial subjects were of paramount importance, protocol amendment, deviation or modification might be necessary in some cases owing to unavoidable circumstances.
The meeting, which lasted for over four hours, was attended by chief ministers and deputy chief ministers of 18 states.
Total foreign direct investment into India rose 2 per cent to the "highest ever" $83.57 billion in 2021-22 on account of various measures like policy reforms and ease of doing business taken by the government, the commerce and industry ministry said on Friday. Total FDI comprises equity inflows, reinvested earnings and other capital. In 2020-21, the inflow stood at $81.97 billion. It was $74.39 billion in 2019-20 and $62 billion in 2018-19. "India has recorded the highest ever annual FDI inflow of $83.57 billion in 2021-22," the ministry noted in a statement.
The information technology (IT) services industry could see value investors taking selective punts in the near future. While growth remains visible, managements across the board have been cautious or measured in their guidance and have also complained about a combination of margin pressures and high churn. The two factors are related in that employee compensation is a large component of IT costs and high churn has forced firms to hike compensation packages and also invest more in hiring, training, and retention.
A government ministry has proposed decriminalising offences under the Collection of Statistics Act 2008 as part of the government's efforts to rationalise legislations to promote the ease of doing business. The Ministry of Statistics and Programme Implementation (MoSPI) has invited public comments on its draft proposal by October 30. The proposal to amend sections of the act will decriminalise offences like obstructing or deceiving statistics officers by doing away with the provision of simple imprisonment up to six months.
A combination of one of the lowest labour costs and a large surplus workforce, which will continue to grow until 2031, is one of the key competitive edges that India is leveraging to challenge its rivals in Southeast Asia in the race for a China-Plus-One strategy. Apart from India, the countries in the race to woo global companies that manufacture in China, as well as the supply chains to their country include Thailand, Indonesia, Malaysia, the Philippines, and Vietnam. On the labour front, India is a clear winner.
Rules for mining, roads, power and irrigation projects relaxed.
More than 70 per cent of Indian youth aged between 15 and 29 can't!
India's manufacturing sector activity moderated in January amid slower increase in total sales, and headcounts were broadly unchanged amid sufficient staff numbers to cope with current requirements, according to a monthly survey. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) fell from December's recent high of 57.8 to 55.4 in January, as factory orders and production rose at sharp, albeit slower, rate. The January PMI data pointed to an improvement in overall operating conditions for the 19th straight month.
Having developed a taste for what humans eat, the monkeys are wreaking havoc in Shimla, reports Ashwani Sharma.
IMAGES from Day 8 of the action at the US Open at USTA Billie Jean King National Tennis Center at Flushing Meadows in New York on Monday.
The Union Cabinet has approved the modalities for holding 5G spectrum auctions, and 72097.85 MHz of radio waves will be put on the block by July-end, an official release said on Wednesday.
He said the short term macroeconomic priorities of the RBI continue to focus on bringing down inflation towards the government-set target of 4 per cent
For many years now, India has given the Commonwealth short shrift so its support for the Commonwealth trade initiative signals a renewed interest in the body.
Images from Day 3 of the 2023 French Open at Roland Garros in Paris on Tuesday.
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