Need to create entrepreneurs not job seekers: M. Venkaiah Naidu

At a time of tepid job growth and continuing income disparities, the major challenge is to make the youth of the country entrepreneurial and not job seekers, Vice President M. Venkaiah Naidu said on Thursday.

"Disparities continue to remain in India and so there is need for inclusive growth... there is the need to take care of the suppressed, oppressed and depressed," Naidu

India`s textiles sector to touch $250 bn in next 2 yrs: Study

A study has revealed that India's textiles sector is likely to touch USD 250 billion in the next two years from the current level of USD 150 billion. The joint study by Assocham and Resurgent pointed out that the textile sector in India accounts for 10 per cent of the country's manufacturing production, 5 per cent of its GDP, and 13 per cent of exports earnings.

The study obse

Green nod to Raipur airport runway extension project

The Airport Authority of India (AAI) has received environment clearance for extension of the runway of Raipur airport in Chhattisgarh, which would entail an investment of Rs 103.5 crore. The clearance is subject to compliance of general and specific conditions. In a letter issued to the AAI, the Union Environment Ministry said that it has given the green nod to the proposed project to extend th

`Government auctions, clarity on PPA to save jobs at Siemens Gamesa India`

 The workforce in India operations of global wind turbine major Siemens Gamesa may escape the axe if the Indian government comes with more auctions and clarifies on power purchase agreements (PPA), a top company official said.

Siemens Gamesa has announced restructuring impacting 6,000 workers in 24 countries and between April and September, its global revenues fell 12 per cent, a

Railways target completing Bullet Train project by August 2022

Unfazed by opposition criticism, Indian Railways is working overtime to push ahead with the much-talked about the "Bullet Train" project, aiming to complete it ahead of the August 2022 deadline set by Prime Minister Narendra Modi.

Railway Board Chairman Ashwani Lohani, who has a reputation of a turnaround man, has taken up the task of monitoring and chairing the periodic rev

RBI slaps fine on The Sind Co-operative Urban Bank

The Reserve Bank of India has imposed a monetary penalty of Rs 50 thousand on The Sind Co-operative Urban Bank Ltd., Hyderabad, Telangana, for violation of Reserve Bank of India directives and guidelines on Exposure Norms and Statutory/Other Restrictions. The Reserve Bank of India had issued a show-cause notice to the bank, in response to which the bank submitted a written reply.

Afte

Textile industry largest employment generator after agri: minister

The minister of state for textiles Ajay Tamta categorically stated the textile & handicrafts sector is economically important from the point of low capital investment, high ratio of value addition, and high potential for export and foreign exchange earnings for the country. Speaking at an ASSOCHAM event, Ajay Tamta said that Indian textile & Handicrafts industry constitutes an important

Maharashtra government considering covering bankers in infra funding

With huge infrastructure projects underway in Maharashtra, the state government is looking at restructuring its funding model so that bankers who are willing to fund projects will be covered by the government, said Ashish Kumar Singh, Principal Secretary, PWD, Govt of Maharashtra. “This will form part of the agreement that they sign with the developers,” Singh said while speaking at

`Demonetisation had high impact on sales of wholesalers, retailers`

As demonetisation completes one year, about 36 per cent of wholesalers and retailers in India say that note ban has had high to severe impact on their businesses, as per a report according to the PTI. The survey conducted by wholesale marketplace Wydr said nearly 21 per cent respondents observed over 50 per cent reduction in October 2017 sales as compared to same period previous year. Besides,

Government to achieve renewable energy target of 175GW: Minister

Pitching on the importance of clean energy, Union Minister of State (IC) for Power and New & Renewable Energy, Raj Kumar Singh has assured achievement of 175GW of Renewable Target of India. Raj Kumar Singh is leading the Indian delegation in the International Energy Agency (IEA) Ministerial, being held in Paris. At the Ministerial, India signed joint work programmes with IEA and other key m

Paradise Papers: All transactions were legal, says Jayant Sinha

Days after his name appeared in the "Paradise Papers", Union Minister of State for Civil Aviation Jayant Sinha on Wednesday reiterated that his transactions were "completely bona fide and legal".

"Before I joined public life, I was a venture capitalist. I was working for one of the world's leading investment firm. As a representative of Omidyar Network on

Aiming to make India global food factory: Minister

The central government is working to make India not only a global food factory but also a global food market, Union Food Processing Minister Harsimrat Kaur Badal said here on Wednesday.

"We think we are capable of becoming a global food market. For this, we need to adopt the best of technologies," Badal said in her keynote address at a seminar on "Belgian Innovative Con

India Inc`s responses mixed on demonetisation anniversary

India Inc. on Wednesday expressed mixed responses on the first anniversary of demonetisation.

The Associated Chambers of Commerce of India (Assocham) said its stand on demonetisation -- "short term pain, long term gain" -- stood correct.

"Indeed, initially the informal and small scale industries as well as the rural economy was impacted, but now the economy ha

Environment management, safety key to future mining activities: Coal Secretary

Stressing up on the need for better environmental management and higher safety measures in the mining sector, Coal Secretary Susheel Kumar on Wednesday said the future mining activity would be in jeopardy if enough attention is not paid on these two aspects.

"I would say priorities for mining sector should be environment and safety. Probably these are taken of efficiently...the w

More work needed to widen renewables, solar: UNIDO official

Lauding India's renewables and solar photovoltaic (PV) programmes, UNIDO's India representative Rene van Berkel on Wednesday said more work is needed to bring everybody under the ambit of these iniatives.

"India has some interesting programs which are making good progress... renewable energy and solar PV programs are examples. Energy efficiency (initiatives) are quite inn

Cabinet decision on commercial coal mining likely this month: Official

The proposal for commercial coal mining is expected to be cleared by the Union Cabinet this month and the auction of coal blocks is likely to commence by the end of this fiscal, an official said on Wednesday.

"The decision will be taken this month by the Cabinet. Thereafter, of course, the process will begin. It is likely to take time. I hope it should happen in this financial ye

Manufacturing should be key driver of growth: NITI Aayog CEO

The country has to grow at a much higher rate than the current growth rate of 7.5 per cent and it will not be possible without manufacturing which has to become a key driver of growth, NITI Aayog CEO Amitabh Kant said here on Wednesday.

"The challenge is that we need to grow at a higher rate over a long period of time, over three decades or more, and it's not possible to grow

Trai to share new telecom policy inputs with Department of Telecom in December

The regulator Trai plans to share with the Telecom Department next month its inputs on key aspects that need to be considered as part of the New Telecom Policy(NTP), according to a senior official of the watchdog, reported PTI. The Telecom Regulatory Authority of India (Trai) will do an "internal brainstorming" on the emerging requirements of the sector for 2020-2022 as also the netwo

ICEX completes first diamond futures contract of Rs 173.32 cr

Indian Commodity Exchange (ICEX), the world's first diamond derivatives exchange, today said it has successfully completed first-ever diamond futures contracts settlement with the total traded quantity in November expiry for 5,382.08 carats valued at Rs 173.32 crore. ICEX had commenced operations on August 28 with the launch of three monthly diamond futures contracts - of November 2017, Dec

Employee who shot video of passenger-manhandling actual culprit: IndiGo

A new twist to the IndiGo passenger manhandling case emerged on Wednesday as the airline said the apparent whistleblower, who shot the video, was the main culprit in the incident.

The airline made the revelation in its report which was submitted to the Ministry of Civil Aviation on Wednesday.

On Tuesday, Union Minister Jayant Sinha sought a report from budget carrier IndiGo

IT spending in EMEA to hit $1 tn in 2018: Gartner

 IT spending in Europe, the Middle East and Africa (EMEA) is projected to exceed $1 trillion in 2018 -- an increase of 4.9 per cent from an estimated spending of $974 billion in 2017 -- market research firm Gartner said on Wednesday.

"The UK has EMEA's largest IT market and its decline of 3.1 per cent in 2017 impacts the forecast heavily," said John-David Lovelock,

RInfra emerges lowest EPC bidder for Kudankulam 3, 4 units

Reliance Infrastructure Limited (RInfra) has emerged the lowest bidder for the engineering, procurement and construction (EPC) contract tendered by Nuclear Power Corporation of India Ltd (NPCIL) for two 1,000 MW power plants at Kudankulam in Tamil Nadu, said sources.

According to the sources, the bids for balance of plant (BOP) and common services were opened on Tuesday and RInfra'

Odisha for speedy resolution of Mahanadi water dispute

 Odisha Chief Minister Naveen Patnaik on Wednesday requested Prime Minister Narendra Modi to expedite the issuance of notification for constitution of a tribunal to resolve the Mahanadi water dispute with Chhattisgarh.

"The delay in constituting the Tribunal has been taken advantage of by the state of Chhattisgarh in going ahead with the construction works of six barrages on

Are those observing black day in favour of black money, asks Sitharaman

 Defence Minister Nirmala Sitharaman on Wednesday wondered if the opposition parties are in favour of black money as they are observing the first anniversary of demonetisation as a black day.

On this day last year, Prime Minister Narendra Modi announced demonetisation of Rs 500 and Rs 1,000 notes, which he said was aimed to eradicate black money and terror funding.

Oppo

2.32 mn suspicious bank accounts under scanner: Nitin Gadkari

 Massive cash deposits of Rs 3.68 lakh crore in 23.22 lakh (2.32 million) bank accounts are under suspicion post the demonetization move and are being investigated, Union Shipping Minister Nitin Gadkari said here on Wednesday.

Besides, around 17.73 lakh (1.77 million) cases have been detected where the cash transactions failed to match the income tax profiles of the individuals,