A 2014 study had ranked IITs as fourth among the top 50 universities globally, whose graduates were entrepreneurial.
Online food delivery platform Zomato has decided to narrow its focus on three key areas of food ordering and delivery; supplies to restaurants through 'Hyperpure' and quick commerce, company Chairman Kaushik Dutta said on Tuesday. In his address to shareholders at the company's annual general meeting, Dutta said the move was part of strategy to focus "only on areas that have the potential to become meaningfully large businesses ten years from now". In FY22, he said Zomato was able to achieve strong top line growth while keeping its "adjusted EBITDA burn under control", despite multiple challenges such as disruptions due to Covid-19 pandemic, macro-economic uncertainty, rising inflation, fuel prices, among others.
China which recently emerged as the world's second largest economy has now become the fifth biggest global investor even as Foreign Direct Investment into the country is set to cross $100 billion this year.
The central government is expected to complete the auction of the 5.9-million tonne (mt) lithium reserves discovered in the Reasi district of the northern Union Territory (UT) of Jammu & Kashmir (J&K) by the end of this calendar year, Union Mines Secretary Vivek Bharadwaj said on the sidelines of the launch of the Federation of Indian Chambers of Commerce and Industry (Ficci) report on 'New-Age Energy Minerals' on Tuesday. "Auction will be over by the end of this year," said Bharadwaj, adding, "We have already recommended a transaction advisor to the J&K government for the auction of lithium reserves." However, the exact timeline for an auction will be decided by J&K authorities, Union mines minister Pralhad Joshi said in Parliament last month.
Modi said this 'special invitation' from President Joseph Biden and First Lady Jill Biden for a state visit is a reflection of the vigour and vitality of the partnership between the democracies.
India's exports contracted 12.2 per cent to $34.48 billion in December 2022, mainly due to global headwinds, and the trade deficit widened to $23.76 billion during the same period, according to official data released on Monday. Imports in December 2022 also declined 3.5 per cent to $58.24 billion as against $60.33 billion in the year-ago period. In December 2021, exports stood at $39.27 billion and the trade deficit was at $21.06 billion.
TVS Motor Company has been one of the best-performing two-wheeler stocks in the current financial year (FY24), enriching investors with gains of 24 per cent. Among listed two-wheeler stocks, only Hero MotoCorp has done better in this period. New launches, market share gains, steady margins and expectations that its performance will continue in FY24 are expected to support TVS Motor's stock.
The Central Consumer Protection Authority (CCPA) on Wednesday said it has imposed a penalty of Rs 1 lakh on e-commerce firm Flipkart for allowing sale of substandard domestic pressure cookers on its platform, in violation of mandatory standards. Headed by Chief Commissioner Nidhi Khare, the CCPA has directed Flipkart to recall all such 598 pressure cookers sold on its platform, reimburse their buyers, and submit a compliance report within 45 days. The central government routinely notifies the Quality Control Orders (QCOs), specifying compulsory conformity to a standard and use of the standard mark for a product to protect consumers from the risk of suffering injury and harm and in the interest of the public at large.
Multi-brand foreign retailers such as Walmart, Metro, Carrefour and Tesco have already invested in India under cash-and-carry arrangements.
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
The FDI floodgates have opened mega opportunities for not only brick-and-mortar retailers, but for their virtual peers as well.
'The second generation of migrant labourers is not enthusiastic about continuing in this field.' 'The parents of the next generation do not wish their children to be part of this trade.'
The tourism industry expects a short-term impact, as it is counting on the state's proven expertise in managing such crises.
Sentiment took a hit after the country's trade deficit soared to a near five-year high of $18 billion in July.
Government gives 60 institutes freedom to fix courses, collaborate with foreign peers.
PG in Global Business Operations at SRCC & Hindi correspondence courses for December 18, 2003
'I want us not to underestimate Indian voters. They can tell good work from bad.'
Chairing an exclusive roundtable with 42 global CEOs and top executives from across 20 sectors, Modi stressed on continued political stability in India, predictability of policy, and pro-development and pro-growth policies.
Making the announcement, the Ministry of External Affairs said on Tuesday that India will hold the G20 presidency from December 1, 2022, and will convene the G20 leaders' summit in 2023 for the first time.
India's exports recorded a flat growth of 0.59 per cent to $31.99 billion in November, even as trade deficit widened to $23.89 billion during the month, according to the data released by the government on Thursday. Exports stood at $31.8 billion in November last year. Imports rose by 5.37 per cent to $55.88 billion in November as compared to $53.03 billion in the corresponding month a year ago, the data showed. During April-November 2022, exports rose by 11 per cent to $295.26 billion as against $265.77 billion in the same month last year.
E-commerce major Flipkart has been ranked second among top book sellers of the world.
In the first nine months of financial year 2022-23, India's exports of medical devices have grown by 17 per cent, while imports have declined by around 8 per cent, show the latest data compiled by the Association of Indian Medical Device Industry (AiMeD). However, import of 30 medical devices from China has risen between 25 per cent and 152 per cent during this period, the AiMeD has written to Commerce and Industries Minister Piyush Goyal in March. The AiMeD is an umbrella organisation of medical device makers.
Finance Minister Arun Jaitley, along with other senior ministers, on Tuesday pitched India growth story before 21 large global investors
Andhra Pradesh's tobacco farmers are now nursing global dreams.
Mumbai and Bengaluru also featured among the list of top five global cites in terms of future rental growth.
India was fourth in 2008, in terms of FDI inflows, among developing countries, he said referring to UNCTAD World Investment Report (WIR) 2009.
Social media giant Meta has appointed Sandhya Devanathan as the vice president of Meta India, the company said.
Oriental Bank of Commerce is drawing up a 'Vision Plan 2010' for becoming a global player in five years after consolidating its position in India.
A quick bounce back of the Chinese stocks looks improbable now.
Development issues of vital interest to India are expected to receive focused attention at the G20 Summit beginning in Cannes on Wednesday, a Ficci Paper on the B20 Working Group on Development said.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
The recovering valuations, will lead to enhanced optimism among investors about funding startups.
While the UN report said that FDI inflows rose 6 per cent in 2018 to $ 42 billion, the government's own data for the entire FY19 period has shown that inbound equity investments declined for the first time in six years in FY19.
The S&P BSE Sensex shed 42 points to close at 25,838 and the Nifty50 lost 13 points to end at 7,899.
US-based electric vehicle maker Tesla is looking to source components worth around $1.9 billion this year against $1 billion last year, Commerce and Industry Minister Piyush Goyal said on Wednesday. The minister said that going forward, demand for electric vehicles will increase and it will help in pushing the growth of the sector. "Tesla already last year bought one billion dollars of components from I think all of you sitting here.... I have the list of companies who supply to Tesla.
Singapore-based e-commerce platform Shopee - that launched in India only in December 2021 - has decided to close operations in the country. The official reason given by Shopee, which is controlled by NYSE-listed Sea Ltd, is changing global sentiments. In a statement, it said, "In view of the global market uncertainties, we have decided to close risks of our early-stage Shopee India initiative." The e-commerce platform has been hit by growing opposition from trade associations led by Praveen Khandelwal as well as homegrown social commerce start-ups.
Oriental Bank of Commerce will shortly hire an international consultant to restructure and integrate the failed Global Trust Bank with itself by this fiscal end.
The government has decided to postpone the release of the new Foreign Trade Policy (FTP) and extend the existing one by six months on account of global uncertainties and currency fluctuations. The government was scheduled to announce the new FTP by the end of September. The current policy was to end on September 30.
India has assured global investors of a stable policy regime, stating no government initiative has ever been reversed or questioned in the past two decades.
With economic problems and job cuts, Hangzhou locals and people in other parts of China are not very pleased about hosting the Asian Games.
