The government on Wednesday approved 12 new industrial cities in 10 states on the lines of Greater Noida in Uttar Pradesh and Dholera in Gujarat to boost domestic manufacturing with an estimated investment of Rs 28,602 crore. These industrial areas will be in Khurpia in Uttarakhand, Rajpura-Patiala in Punjab, Dighi in Maharashtra, Palakkad in Kerala, Agra and Prayagraj in UP, Gaya in Bihar, Zaheerabad in Telangana, Orvakal and Kopparthy in AP, and Jodhpur-Pali in Rajasthan, and one in Haryana. A decision in this regard was taken in a meeting of the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi.
'Stay disciplined, and remain invested.' 'Volatile times are the best to invest in structural opportunities at the right price.'
Union labour minister Dr Mansukh Mandaviya on Thursday said employment in the country has increased by 36 per cent to 64.33 crore in 2023-24 from 47.15 crore in 2014-15, which shows improvement in job creation during NDA period.
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From January-March this year, 64,000 jobs were created in eight crucial sectors of the economy.
India's economic growth rate is estimated to slip to a four-year low of 6.4 per cent in 2024-25, mainly on account of poor showing by the manufacturing and services sector, according to government data released on Tuesday. The gross domestic product (GDP) rate of 6.4 per cent will be the lowest since the Covid year (2020-21) when the country witnessed a negative growth of 5.8 per cent.
The US is expected to push for sweeping changes in India's policies, ranging from tariff reductions to regulatory overhauls, that could benefit American firms and exporters, under the proposed bilateral trade agreement with India, think tank GTRI said on Sunday.
The Rs 1-trillion Research Development and Innovation (RDI) fund, which was announced in the July budget for FY25, of which Rs 20,000 crore has already been allocated, will be operationalised in the next two to three months, a top official said.
Former Chief of Air Staff, Air Chief Marshal Arup Raha (Reired), on Saturday said the engine of the Air India aircraft that crashed near Ahmedabad airport on June 12 'definitely' lost power at a critical stage and there was no time for recovery.
Agriculture, pharma, electronics, and engineering goods together accounted for over 50 per cent of India's merchandise exports in 2024-25, according to government data, highlighting the country's growing strength in diverse sectors amid efforts to boost manufacturing and value-added exports.
Despite the alarming figures on job displacement, AI is expected to generate millions of new roles, echoing historical trends of technological transformation.
Unemployment rate in urban areas during the third quarter (October-December) of FY25 remained unchanged at 6.4 per cent compared to the preceding quarter, according to the latest quarterly Periodic Labour Force Survey (PLFS) data released by the Ministry of Statistics on Tuesday. While the unemployment rate for men worsened marginally to 5.8 per cent in Q3 from 5.7 per cent in Q2, for women, it improved to 8.1 per cent from 8.4 per cent.
India's smartphone exports surged nearly fivefold to the US and about fourfold to Japan in the past three years, propelling the segment to surpass petroleum products and diamonds as the country's top exported goods, according to government data. The smartphone exports rose by 55 per cent to $24.14 billion in 2024-25 from $15.57 billion in 2023-24 and $10.96 billion in 2022-23.
The finance minister, in her Budget speech, should focus more on what she is directly responsible for, rather than on programmes where her role is largely supportive, notes Nitin Desai.
Vi partners SpaceX-rival AST SpaceMobile for satcom service on smartphones
The Budget for 2024-25 should focus on employment generation, besides promoting the manufacturing sector, economists attending the pre-Budget consultation meeting with Finance Minister Nirmala Sitharaman here on Wednesday said. The meeting was attended by National Co-convenor Swadeshi Jagran Manch Ashwani Mahajan, Director and Chief Executive of the Institute for Studies in Industrial Development (ISID) Nagesh Kumar, and TCA Anant among others.
India's services sector growth recorded another month of robust expansion in July, albeit at a slightly slower pace than in June, largely supported by robust demand conditions and investment in technology, a monthly survey said on Monday. The seasonally adjusted HSBC India Services Business Activity Index was at 60.3 in July, down only fractionally from 60.5 in June. In the Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion, while a score below 50 denotes contraction.
The Indian economy needs to generate an average of nearly 78.5 lakh jobs annually until 2030 in the non-farm sector to cater to the rising workforce, according to the Economic Survey for 2023-24. The Survey tabled in Parliament on Monday also laid emphasis on the private sector's role to create employment in the country saying "In more than one respect, the action lies with the private sector. "In terms of financial performance, the corporate sector has never had it so good."
American sourcing firms and exporters in China are approaching Indian companies to supply goods to the US as high tariffs imposed by Washington are making it difficult for them to ship directly to America, apex exporters' body FIEO said on Monday. The US has imposed 145 per cent tariffs on Chinese goods entering the American market. For India, the duty is just 10 per cent.
rediffGURU Patrick Dsouza, founder of Patrick100 counsels students, and aspiring professionals about the scope of an MBA degree.
'We don't have to compete with Maharashtra or Gujarat. We have to now start thinking about how we compete with the United States or China.'
Export-led Indian IT sector is not directly hit by Trump's tariff order on goods, but there could be worrisome indirect bearings on it arising out of possible slowdown in decision-making and GDP growth in America over higher tariffs, which may then cloud demand from specific verticals, according to some analysts.
While this will incur a revenue loss amounting to 0.2 per cent of GDP, it will provide a strong boost to consumer sentiment and spending, points out Rajani Sinha.
Dubai is positioning itself as a springboard for Indian companies looking to tap into fast-growing emerging markets, including Africa, banking on low tariffs, long-standing trade relations, and a shared vision for regional economic growth, said Mohammad Ali Rashid Lootah, president and chief executive officer, Dubai Chambers, at the Dubai-India Business Forum in Mumbai.
In today's dynamic economic landscape, commerce and management education is crucial for a global career, says Nayagam PP.
India fully utilised its military modernisation budget in 2024-2025 -- the first time in five years -- and signed a record Rs 2 trillion defence contracts.
India's largest cable and wire manufacturer Polycab India ended financial year 2024-25 (FY25) on a high, delivering another strong quarter of double-digit growth and market share gains. This coupled with margin expansion, operating breakeven for its fast-moving electrical goods (FMEG) business, and steady exports outlook for FY26 is expected to support the stock, which is up 18 per cent over the past month. The stock is currently trading at Rs 5,765 a share.
Geopolitical developments between India and Pakistan, quarterly earnings and macro data will be the key drivers of stock markets in the holiday-shortened week, say analysts.
Manufacturing's share in the profit pool of companies had declined before the pandemic.
New investment projects announced in the manufacturing sector declined in the three months ended June 2023. The value of new projects was lower than in the March quarter, as well as the year-ago period, shows data from project tracker the Centre for Monitoring Indian Economy (CMIE). The new project announcements worth around Rs 85,000 crore in the manufacturing segment in June were a 48 per cent decline from the Rs 1.6 trillion in March and a 66 per cent decline from the Rs 2.5 trillion seen in June 2022.
The initial public offering (IPO) lane will be busy next week, with four main-line companies, including Leela Palaces Hotels & Resorts operator Schloss Bangalore Ltd and Aegis Vopak Terminals tapping the primary market to raise over Rs 6,600 crore collectively.
India's industrial production (IIP) growth slowed to 3.5 per cent year-on-year in October 2024, mainly due to poor performance of mining, power and manufacturing, as per official data released on Thursday. The IIP recorded a growth of 11.9 per cent in October 2023, according to a statement by the Ministry of Statistics & Programme Implementation.
The company had announced similar pricing for Sri Lanka, where its application was in advanced stages of regulatory clearance.
India's indigenously developed 'Akashteer' air defense system performed exceedingly well during 'Operation Sindoor,' according to Defence Research and Development Organisation (DRDO) chief Samir V Kamat. The fully automated system, deployed against terror sites in Pakistan and Pakistan-occupied Kashmir, integrates various radar systems, sensors, and communication technologies. Kamat expressed confidence in the system's success drawing international interest, highlighting India's progress toward self-reliance in the defense sector. He also addressed the future of warfare, emphasizing the need for a blend of traditional and emerging technologies, and outlined the development timeline for the indigenous 5.5-generation stealth fighter aircraft, the Advanced Medium Combat Aircraft (AMCA).
A Reuters report stated that the high-profile meeting reflects Ambani's growing influence in global business and diplomacy. Over the years, Qatar Investment Authority (QIA), the country's sovereign wealth fund, has invested in several Reliance ventures.
Billionaire Gautam Adani's group is planning to build 10 GW of integrated solar manufacturing capacity by 2027, as it looks to capture energy transition business, sources close to the company said. Adani Group currently has a solar manufacturing capacity of 4 GW. Adani Solar has a confirmed order book of over 3,000 MW in exports that are to be serviced over the next 15 months, they said, adding Adani, recently, raised $394 million for solar manufacturing from Barclays PLC and Deutsche Banks AG through a trade finance facility.
India successfully intercepted or neutralized all Pakistani missiles and drones that targeted 15 Indian cities on Wednesday night, according to official sources. The attack, which was launched in response to India's Operation Sindoor, involved the deployment of Barak-8 missiles, S-400 Triumph air defense systems, Akash surface-to-air missiles, and indigenously developed anti-drone equipment. India retaliated with precision strikes on Pakistani territory, destroying an HQ-9 air defense unit in Lahore and damaging key radar infrastructure. The incident highlights the strength of India's air defense capabilities and its ability to project power with surgical precision.
The performance of Hindustan Aeronautics Limited (HAL) for 2024-25 (FY25) was driven by improved margins and lower provisions. The order book as of March was of Rs 1.8 trillion, with inflows of Rs 1 trillion during FY25.
For India to transform into a high-income country with a projected gross domestic product (GDP) of $23-35 trillion, will need a sustained annual growth of 8 per cent to 10 per cent. This will be powered by India's demographic dividend, technological innovation, and sectoral transformation, according to the "India@2047: Transforming India Into A Tech-Driven Economy" report by Bain & Company and Nasscom. By 2047, the services sector is expected to contribute 60 per cent of India's GDP, while manufacturing will account for 32 per cent, both playing a pivotal role in economic expansion.
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