Revamped GeM portal may roll out from January

The new and dynamic version of the Government e-Market (GeM) portal for public procurement is likely to be rolled out from January, a senior commerce ministry official said. "Work is under way, we are hoping to roll out the new dynamic platform from January," the official added. The current avatar came into being in August last year for online purchases of goods and services by all ce

Aviation Min to rationalise block time of flights: R N Choubey

The civil aviation ministry has said that it has started the process of rationalising the block time of scheduled flights amid slot constraints at various airports. As per reports, block time generally refers to the time taken by a flight to travel from one point to another and is also a key factor for measuring On Time Performance (OTP) of flights.

Commenting on the issue, Civil Avia

India`s API import dependency unlikely to reduce in medium term

India Ratings and Research (Ind-Ra), a leading rating agency, has said that it expects India to remain dependent on imports for its active pharmaceutical ingredients (API) requirements at least in the medium term. The expectation is based on the country’s inadequate API manufacturing infrastructure and government’s insufficient policy support. The draft policy 2017 emphasises reduci

REC to provide Rs 14,000 cr debt for NTPC`s power plant

Rural Electrification Corp (REC) has said that it will provide Rs 14,000 crore debt to set up 2,400 MW thermal power plant of power giant NTPC's arm Patratu Vidyut Utpadan Nigam Ltd (PVUNL) in Jharkhand. Commenting on the issue, a REV Official said, "The REC and PVUNL signed a loan agreement for establishing 3x800 MW Patratu Super Thermal Power Project Phase-I in Jharkhand."

Fitch assigns `Stable`outlook for global FLCs

The rating outlook for finance and leasing companies (FLCs) globally in 2018 is Stable, says Fitch Ratings. The Stable Rating Outlook reflects modest leverage across most sub-sectors, adequate liquidity profiles, and the generally muted impact of rising interest rates in certain regions on FLCs' earnings.

The sector outlook is still negative based on Fitch's expectation of wea

Efforts of Railways, CIL bring record growth in coal offtake

The government said coordinated efforts of Coal India and railways have brought remarkable growth in offtake of the fossil fuel and improved despatch for power plants in particular. "The synergetic efforts of CIL (Coal India) and Railways with close monitoring by the ministries of coal, railways and power have resulted in unprecedented growth in coal offtake," the coal ministry said i

India`s retail market to touch US $1.1 trillion by 2020: study

The retail market in India is likely to reach US$1.1 trillion by 2020 from the current level of US$ 680 billion, according to the just published study jointly by MRRSIndia.com and ASSOCHAM. Retail and FMCG markets in India are exponentially growing and are expected to grow at 20% and 21% respectively per annum, according to the just published study jointly by MRRSIndia.com and ASSOCHAM. FMCG (f

RBI issues directions on Vasantdada Nagari Sahakari Bank

Reserve Bank of India on Wednesday has issued directions to Vasantdada Nagari Sahakari Bank Ltd, Osmanabad, Maharashtra for a period of six months from the close of business on November 13, 2017. “The directions stipulate certain restrictions or ceiling on withdrawal and acceptance of deposits,” RBI said in a notification. The detailed directions are displayed on the bank’s pr

Sebi chief for wider farmer participation in futures trading

Sebi chairman Ajay Tyagi called for bringing more farmers into the futures trading by linking them with commodity exchanges, reported PTI. At present, about 50 farmer producers' organisations (FPOs) covering nearly 50,000 farmers are linked with commodity derivatives exchanges and are able to realise market-linked price for their produce, he said.

"For a large country like ou

Apple gives limited option to Trai for building DND app

US mobile device major Apple is learnt to have given limited option to telecom regulator Trai for developing a Do-Not-Disturb app for iPhone users, reported PTI. Apple has submitted an option to develop the DND app over a new SMS spam feature developed on the latest version of company's platform iOS, sources involved in the discussion between Trai and Apple, said on the condition of anonymi

Gionee eyes spot in top 5 smartphone tally in India by March

Handset maker Gionee aims to secure a spot in the top 5 tally in the Indian smartphone market by March next year as it expands its product portfolio and strengthens retail presence in the country, reported PTI. The company, which competes with the likes of Samsung, Xiaomi, Lenovo and others, has also ramped up its marketing budget to around Rs 750 crore in 2017-18. "India is a very importa

Housing Sector shortage to be addressed through PMAY: Hardeep S Puri

Hardeep S Puri, the Minister of State Housing and Urban Affairs has stated that the Real Estate Act is a pioneering legislation which will have a long term transformative effect. “We have put in place an eco-system to ensure that real estate sector is properly governed and buyers are empowered. I have absolutely no doubt that the history of Real Estate in India will be written in two segm

HC questions 12% GST on sanitary napkins

The Delhi High Court on Wednesday questioned the central government's decision to impose 12 per cent tax on sanitary napkins under the GST regime, saying it has exempted "bindi, kajal, sindoor" which seem more essential than sanitary napkins.

The court said the government needs to look towards reducing GST on sanitary napkins as it has done recently for many product

Rural FMCG market to reach $220 bn by 2025: Study

India's rural fast moving consumer goods (FMCG) market is expected to grow at a compounded annual growth rate of 14.6 per cent and reach $220 billion by 2025, a joint study said here on Wednesday.

This is because of rural population using e-commerce and digital connectivity services due to high penetration of smartphones, credit and debit cards, and online banking.

In th

SIAM welcomes preponement of BS-VI grade fuel introduction in Delhi

The Society of Indian Automobile Manufacturers on Wednesday welcomed the Union Petroleum Ministry's decision for early introduction of "BS-VI Gasoline and Diesel Fuel" in the national capital territory (NCT) of Delhi from April 2018, instead of April 2020.

The automobile industry body also welcomed the ministry's tentative plan to extend availability of Bharat Stage-

CRISIL to acquire 100% stake in Pragmatix

Ratings agency CRISIL has entered into a definitive agreement to acquire 100 per cent of the equity shares of Pragmatix Services Private Limited, an official statement said here on Wednesday.

"The transaction is at a total consideration of upto Rs 56 crore. The acquisition is subject to regulatory approvals and other customary closing conditions. The parties expect to close the t

Centre to offer grants to start-ups for cybersecurity solutions

The Ministry of Electronics and Information Technology is in the process of working with the Data Security Council of India to offer Challenge Grants for cybersecurity to encourage start-ups to develop innovative technologies, IT Minister Ravi Shankar Prasad said on Wednesday.

"Rs 5 crore in grant will be for growth start-ups to come up with new solutions in the field of cybersec

Sisodia visits Hyderabad`s T-Hub

Delhi Deputy Chief Minister Manish Sisodia on Wednesday visited T-Hub as part of his government's efforts to establish a similar facility for start-ups.

The team led by Sisodia was impressed with T-Hub, billed as the country's largest technology incubator.

An initiative of Telangana government, T-Hub has completed two years.

Sisodia, accompanied by cabinet

Sembcorp wins 2nd project via Indian wind power auctions

Singapore-listed Sembcorp's renewable energy business has won another bid to set up a 250 MW wind power project in India following the country's second wind power tender, the company's Indian arm said on Wednesday.

"Sembcorp has won yet another project in India's wind power market. Its renewable energy business Sembcorp Green Infra was awarded a 250-megawatt proje

Indian companies account for $17.9 bn investments in US: Survey

One hundred companies with origins in India are responsible for creating more than 100,000 jobs and $17.9 billion in investments across the United States, according to a survey report.

The findings were disclosed in the Confederation of Indian Industry's (CII) 'Indian Roots, American Soil' report -- a state-by-state breakdown of tangible investments made and jobs created b

India`s global rank up for reducing greenhouse gas emissions

 India is ranked 14th in this year's Climate Change Performance Index (CCPI) 2018 out of 56 nations and the European Union by environmental organisation Germanwatch, an improvement from its 20th position last year, for reducing greenhouse gas (GHG) emissions by opting to transform its electricity sector towards green technology.

China, with its high emissions and growing

Kyrgyzstan pushes for greater business ties with India at IITF

 It's called the Switzerland of Central Asia with its breathtaking landscapes and snow-capped mountains, has one of the most liberal tourist visas of the region and is celebrating the silver jubilee of its diplomatic relations with India. As the Focus Country at the India International Trade Fair (IITF), Kyrgyzstan is pulling out all stops to push for greater business ties with India.<

Economically weak in Kerala`s `forward communities` to get jobs

The Kerala government on Wednesday decided to provide job quotas to the economically backward in the forward communities and the process will begin with Devasoms, Chief Minister Pinarayi Vijayan announced on Wednesday.

Vijayan said the decision was taken by the cabinet. In principle, a constitutional amendment would be needed to validate the provision of jobs for the economically

Government receives 141 proposals for operating flights, choppers

The Indian Government has said that it has received as many as 141 initial proposals for operating flight and helicopter services on 502 routes, including to Haridwar, Srinagar and Tirupati, under the second bidding round of regional air connectivity scheme. Commenting on the issue, Civil Aviation Minister Ashok Gajapathi Raju said the second round of bidding had attracted "very good respo

BSE changes methodology for S&P BSE 500 index

BSE said all constituents of largecap, midcap and smallcap indices will be eligible for inclusion in the S&P BSE 500 index, reported PTI. The new methodology will become effective from next month. Currently, all common equities listed at the exchange are considered eligible for S&P BSE 500 index. This excludes firms classified in Z group, suspended companies, those objected by BSE's