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Maharashtra will play key role in achieving India`s $5 trillion economy goal: Minister Aditi Tatkare Representing Maharashtra in the pre-Union Budget meeting held in Jaisalmer, Minister Aditi Tatkare on Saturday assured that Maharashtra would play a pivotal role in India’s journey towards becoming a $5 trillion economy.  She emphasised the need for special financial assistance to the state in the upcoming Union Budget. Minister Tatkare presented Maharashtra’s vision, highlighting its strategic role in realising the Prime Minister’s goal of a ‘Viksit Bharat&...
Maharashtra will play key role in achieving India`s $5 trillion economy goal: Minister Aditi Tatkare
Maharashtra will play key role in achieving India`s $5 trillion economy goal: Minister Aditi Tatkare
Source: IANS
2024-12-21 05:01:57 pm
Biotech startups in India surged from 50 to about 9,000 in last decade: Jitendra Singh From just 50 biotech startups in 2014 in India, the ecosystem has grown to nearly 9,000 in the last decade, said Union Minister Jitendra Singh.    At an event held in the national capital, Singh attributed the increase to the remarkable growth in bio-economy in the last 10 years -- from $10 billion in 2014 to over $130 billion in 2024. The bio-economy industry is expected to reach $300 billion by 2030. “With the kind of threat of pollution, the climate challenges, etc., ...
Biotech startups in India surged from 50 to about 9,000 in last decade: Jitendra Singh
Biotech startups in India surged from 50 to about 9,000 in last decade: Jitendra Singh
Source: IANS
2024-12-21 11:20:31 am
Net inflows in SIPs up 233 pc in India this year, MF industry sees 135 pc growth There has been a massive 233 per cent growth (year-on-year) in overall net inflows in systematic investment plans (SIPs) in India this year, according to a new report, as the Indian economy remains resilient amid rough geo-political conditions.  Overall net inflows stood at Rs 9.14 lakh crore from January to November this year, as against Rs. 2.74 lakh crore in 2023 which tantamount to a growth of 233 per cent, according to the report by ICRA Analytics. Number of new SIPs registere...
Net inflows in SIPs up 233 pc in India this year, MF industry sees 135 pc growth
Net inflows in SIPs up 233 pc in India this year, MF industry sees 135 pc growth
Source: IANS
2024-12-21 11:17:59 am
India launches probe to determine `safeguard duty` on steel as imports surge India has launched an investigation to consider if it should impose a safeguard duty or a temporary tax to curtail unbridled steel imports, according to a government notice on Friday. The probe comes after Indian Steel Association, which represents top steelmakers such as ArcelorMittal Nippon Steel India Ltd, JSW Steel Ltd, Jindal Steel and Power, filed a petition to initiate an investigation concerning imports of "Non-Alloy and Alloy Steel Flat Products" into India. India'...
India launches probe to determine `safeguard duty` on steel as imports surge
India launches probe to determine `safeguard duty` on steel as imports surge
Source: Reuters
2024-12-21 10:59:37 am
High prices impinging on India`s growth, central bank minutes show High prices are the cause for demand slowdown in India, and aligning inflation to the central bank's 4% target is key to ensuring sustained economic growth, members of the rate-setting panel said in the minutes of the December meeting. "The policy priority at this critical juncture has to be on restoring the inflation growth balance," Reserve Bank of India Governor Shaktikanta Das said in the minutes of his last monetary policy committee (MPC) meeting released on Friday. L...
High prices impinging on India`s growth, central bank minutes show
High prices impinging on India`s growth, central bank minutes show
Source: Reuters
2024-12-21 10:43:18 am
India`s forex reserves dip to nearly six-month low  India's foreign exchange reserves fell by nearly $2 billion to an almost six-month low of $652.87 billion as of Dec. 13, data from the Reserve Bank of India (RBI) showed on Friday. The reserves had declined by $3.2 billion in the week of Dec. 6, and have declined by $52 billion from the record high of $704.89 billion hit on Sept. 27. Changes in foreign currency assets are caused by the central bank's intervention in the forex market as well as the appreciation or depreciat...
India`s forex reserves dip to nearly six-month low
India`s forex reserves dip to nearly six-month low
Source: Reuters
2024-12-21 10:41:02 am
India`s BPCL buys first Argentinian crude oil cargo for Feb delivery, sources say India's Bharat Petroleum Corp Ltd has bought its first crude oil cargo from Argentina, two trade sources said on Friday, part of the company's effort to diversify the grades processed at its refineries. The state-run refiner has purchased the 1-million-barrel cargo of Medanito crude for February delivery from European trader Mercuria, the sources said. The light-sweet grade is of a similar quality to U.S. West Texas Intermediate crude, they added. BPCL bought the cargo for tr...
India`s BPCL buys first Argentinian crude oil cargo for Feb delivery, sources say
India`s BPCL buys first Argentinian crude oil cargo for Feb delivery, sources say
Source: Reuters
2024-12-21 10:36:13 am
India`s Shriram Finance targets 50 billion rupees AUM for green lending vertical in 3-4 years India's non-banking finance company Shriram Finance has consolidated its green finance business under Shriram Green Finance, it said on Friday, and targeted assets under management (AUM) of 50 billion rupees ($588 million) over the next three to four years under the portfolio. The green finance vertical will be built through financing electric vehicles (EV), including two-wheelers, battery charging stations and renewable energy products, among others, the company said. The focus is ...
India`s Shriram Finance targets 50 billion rupees AUM for green lending vertical in 3-4 years
India`s Shriram Finance targets 50 billion rupees AUM for green lending vertical in 3-4 years
Source: Reuters
2024-12-21 10:33:25 am
TRAI recommends additional spectrum for Indian Railways to boost safety The Telecom Regulatory Authority of India (TRAI) on Friday released recommendations on assignment of additional spectrum to Indian Railways for its safety and security applications.  Indian Railways has sought an additional 5 MHz of paired spectrum in the 700 MHz band, free of cost, for enhancing its safety and security systems, according to Department of Telecommunications (DoT), Ministry of Communications. “In addition to the already assigned 5 MHz (paired) frequency spectr...
TRAI recommends additional spectrum for Indian Railways to boost safety
TRAI recommends additional spectrum for Indian Railways to boost safety
Source: IANS
2024-12-21 09:43:40 am
Centre, ADB sign $350 million loan to boost India`s supply chains  The Indian government and the Asian Development Bank (ADB) on Friday signed an agreement for a $350 million policy-based loan under the second subprogramme of the Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) programme, to strengthen the domestic manufacturing sector and improve the resilience of supply chains.  According to the Ministry of Commerce and Industry, the SMILE programme is a programmatic policy-based loan (PBL) to support the government in unde...
Centre, ADB sign $350 million loan to boost India`s supply chains
Centre, ADB sign $350 million loan to boost India`s supply chains
Source: IANS
2024-12-21 09:22:48 am
India now has 25,202 public charging stations for EVs: Minister As many as 25,202 public charging stations for electric vehicles (EVs) have been installed in the country to date, the government said on Friday.  Karnataka leads with 5,765 EV public charging stations, followed by Maharashtra at 3,728 and Uttar Pradesh at 1,989, Minister of State for Heavy Industries and Steel, Bhupathiraju Srinivasa Varma, told the Rajya Sabha in a written reply. As per the information received from the Ministry of Power, 271 EV public charging stations are insta...
India now has 25,202 public charging stations for EVs: Minister
India now has 25,202 public charging stations for EVs: Minister
Source: IANS
2024-12-21 09:15:19 am
Urban sector investments in India surge 16-fold: Centre The investments in the urban sector in India have increased 16-fold as the government aims to achieve the 'Viksit Bharat' goal by 2047, the Ministry of Housing and Urban Affairs said on Friday.   Under the Smart Cities Mission (SCM), work orders have been issued in 8,066 projects amounting to Rs 1,64,669 crore, of which 7,352 projects (91 per cent of total projects) amounting to Rs 1,47,366 crore have been completed, as per the data provided by 100 Smart Cities. Under the &...
Urban sector investments in India surge 16-fold: Centre
Urban sector investments in India surge 16-fold: Centre
Source: IANS
2024-12-21 08:41:42 am
India`s Steel Imports from China Hit Record High in FY25 by Amit Gupta, Kedia Advisory India's finished steel imports from China reached a record high in the first eight months of FY25, with 1.96 million metric tons shipped, a 22.8% increase year-on-year. Overall, steel imports rose 26.6%, hitting an eight-year high, with China, Japan, and South Korea accounting for 79% of total imports. The surge has impacted India's smaller mills, forcing operational cuts, as New Delhi considers safeguard duties to curb the influx. While India's steel demand remains strong, driven...
India`s Steel Imports from China Hit Record High in FY25 by Amit Gupta, Kedia Advisory
India`s Steel Imports from China Hit Record High in FY25 by Amit Gupta, Kedia Advisory
Source: Kedia Advisory
2024-12-20 03:21:39 pm
Comment on the Net Zero water certification on NTPC RGPPL Ratnagiri Township Becomes India`s First to Achieve IGBC Net Zero Water Certification by Viswajit Srinivasan, a senior banker of Indian origin based out of the UK Below the Comment on the Net Zero water certification on NTPC RGPPL Ratnagiri Township Becomes India’s First to Achieve IGBC Net Zero Water Certification by Viswajit Srinivasan, a senior banker of Indian origin based out of the UK   “Ratnagiri Gas and Power Private Limited (RGPPL) Township being the first township to achieve the Net Zero certification from IGBC is a remarkable milestone. It has been estimated by the IGBC that building projects consume 10% of all water c...
Comment on the Net Zero water certification on NTPC RGPPL Ratnagiri Township Becomes India`s First to Achieve IGBC Net Zero Water Certification by Viswajit Srinivasan, a senior banker of Indian origin based out of the UK
Comment on the Net Zero water certification on NTPC RGPPL Ratnagiri Township Becomes India`s First to Achieve IGBC Net Zero Water Certification by Viswajit Srinivasan, a senior banker of Indian origin based out of the UK
Source: PR Agency
2024-12-20 02:52:15 pm
Unicorns continue to be among large employers in India Unicorns (with valuation $1 billion and above) continue to be among the large employers in India and overall, 116 Indian unicorns employed 4,10,829 people in August this year compared to 4,17,561 employees recorded in the same month last year, a report showed on Friday.  Unicorn hiring peaked in March at over 42,000 cumulative employee additions, according to the report by SaaS-based network platform PrivateCircle. “Unicorns continue to be large employers in India. We find th...
Unicorns continue to be among large employers in India
Unicorns continue to be among large employers in India
Source: IANS
2024-12-20 02:46:47 pm
US and India discuss advancing space partnership, announce initiatives The US and India are set to strengthen space cooperation, including for human spaceflight, and joint space exploration, and are expected to facilitate commercial partnerships between space companies of both countries to advance shared interests in the growing space economy.  After US President Joe Biden and Prime Minister Narendra Modi in June 2023 committed to work together to “reach new frontiers across all sectors of space cooperation” and India’s signing of the A...
US and India discuss advancing space partnership, announce initiatives
US and India discuss advancing space partnership, announce initiatives
Source: IANS
2024-12-20 02:42:33 pm
Indian cement industry poised for robust recovery in 2nd half of FY25  The Indian cement industry is projected to see a robust recovery in the second half of FY25, driven by pent-up demand, a rebound in government capex and sustained momentum in the real estate and housing sectors, a Motilal Oswal Financial Services Ltd. (MOFSL) report said on Friday.  Industry volumes grew by 3-5 per cent year-on-year (YoY) during October-November 2024, despite a challenging October due to unseasonal rains, a high base from the previous year, and the overlap of fe...
Indian cement industry poised for robust recovery in 2nd half of FY25
Indian cement industry poised for robust recovery in 2nd half of FY25
Source: IANS
2024-12-20 02:29:24 pm
Footwear and leather industry symbol of India`s craftmanship and innovation: Piyush Goyal Union Minister of Commerce & Industry, Piyush Goyal has said that India’s footwear and leather industry is not only a significant contributor to the economy but also a symbol of skilled craftsmanship and innovation.  Goyal lauded the exporters for their contributions and urged the industry leaders to work together to achieve even greater milestones. He praised the leather industry for adopting high quality standards and for their commitment to make Brand India represent the ...
Footwear and leather industry symbol of India`s craftmanship and innovation: Piyush Goyal
Footwear and leather industry symbol of India`s craftmanship and innovation: Piyush Goyal
Source: Accord Fintech
2024-12-20 02:19:19 pm
India`s renewable energy projects record 63 per cent jump in investment Project finance flowing into renewable energy projects recorded a 63 per cent jump in 2023 compared to 2022 levels, to scale the Rs 30,255 crore ($3.66 billion) mark, according to a report by the Centre for Financial Accountability.    The report, titled 'Coal vs RE Investment in 2024' states that while there was an increase in project finance lending to renewable energy projects, there was no project finance lending to new coal power projects for the third consecutive ye...
India`s renewable energy projects record 63 per cent jump in investment
India`s renewable energy projects record 63 per cent jump in investment
Source: IANS
2024-12-20 01:57:08 pm
India looking at collaboration with HD Korea Shipbuilding Officials of HD Korea Shipbuilding & Offshore Engineering met with the secretary of India's oil ministry on Thursday and the two sides are exploring potential collaborations in shipbuilding, the South Asian nation said.
India looking at collaboration with HD Korea Shipbuilding
India looking at collaboration with HD Korea Shipbuilding
Source: Reuters
2024-12-20 11:43:37 am
CLOSE-IN: Is there a rainbow for the Indian cricket side after all? Rain saved India from what looked like an imminent defeat against the Aussies in the third Test match at the Gabba in Brisbane. Several cricket series in the past have shown teams being saved by the Almighty through rain and thereafter, have been blessed with a series win!  May be this Indian side has that element of luck and blessing too, having escaped from the hell hole they had dug themselves into. The series stands 1-1 at present, evenly balanced with 2 Test matches to go. Aus...
CLOSE-IN: Is there a rainbow for the Indian cricket side after all?
CLOSE-IN: Is there a rainbow for the Indian cricket side after all?
Source: IANS
2024-12-20 11:40:53 am
India`s Tech Mahindra aiming for bigger bite of bank tech spends, CEO says  India's Tech Mahindra is stepping up focus on its banking, financial services and insurance (BFSI) business in a bid to bridge the gap with larger peers which have historically made more revenue from the lucrative segment, its CEO said in an interview. Mohit Joshi, who took the helm of India's No.5 software services exporter in December 2023 after more than two decades at Infosys, wants to increase the share of BFSI in Tech Mahindra's revenue mix by up to 25% by March 202...
India`s Tech Mahindra aiming for bigger bite of bank tech spends, CEO says
India`s Tech Mahindra aiming for bigger bite of bank tech spends, CEO says
Source: Reuters
2024-12-20 11:38:51 am
India`s solar equipment manufacturing poised for healthy growth next 2-3 years: CareEdge Ratings CareEdge Ratings in its latest report has said that India’s solar equipment manufacturing capacity is poised for healthy growth over the next 2-3 years, entailing a capex of nearly Rs 1 lakh crore. It stated of that Capex, an estimated debt funding of nearly Rs 70,000 crore is expected over the medium term, including investments in polysilicon and wafer capacities. India’s renewable energy capacity stood at 155 Gigawatt as of September 2024, with the solar segment being the lar...
India`s solar equipment manufacturing poised for healthy growth next 2-3 years: CareEdge Ratings
India`s solar equipment manufacturing poised for healthy growth next 2-3 years: CareEdge Ratings
Source: Accord Fintech
2024-12-20 10:34:08 am
India 39th among 119 nations in WEF tourism development index, improves 2021 ranking Driven by improved infrastructure and friendly government policies to boost tourism, India is now ranked 39th among 119th countries in the Travel and Tourism Development Index (TTDI) 2024 report, published by the World Economic Forum (WEF).  In the previous index published in 2021, India was ranked 54th. However, due to a revision in the WEF's methodology, India's 2021 rank was adjusted to 38th place, Union Minister for Tourism and Culture, Gajendra Singh Shekhawat, said in a ...
India 39th among 119 nations in WEF tourism development index, improves 2021 ranking
India 39th among 119 nations in WEF tourism development index, improves 2021 ranking
Source: IANS
2024-12-20 10:30:17 am
Food collection take-away segment in India to clock 7.7 pc growth during 2023-28  Amid the surge in quick commerce industry, the food collection take-away segment in India is projected to register a compound annual growth rate (CAGR) of over 7.7 per cent during 2023–28, a report showed on Friday.  The rapid rise of quick commerce in India is reshaping the retail landscape, with urban populations progressively seeking fast delivery services for daily necessities, according to says GlobalData, a leading data and analytics company. As consumers increasi...
Food collection take-away segment in India to clock 7.7 pc growth during 2023-28
Food collection take-away segment in India to clock 7.7 pc growth during 2023-28
Source: IANS
2024-12-20 10:23:14 am
27,000 household biogas plants set up, India`s dairy farmers earn 11,000 carbon credits  More than 27,000 household biogas plants have been installed in 19 states across the country under various schemes in the dairy sector, according to an official statement issued on Thursday.   Further, the household biogas initiative has also helped in generating carbon credits for the dairy cooperative sector. Under the first such initiative, a total of 11,000 carbon credits have been earned by 1,040 farmers, giving a boost to both farmer incomes and contributing to the aim ...
27,000 household biogas plants set up, India`s dairy farmers earn 11,000 carbon credits
27,000 household biogas plants set up, India`s dairy farmers earn 11,000 carbon credits
Source: IANS
2024-12-20 08:53:05 am
Indian medical devices sector estimated to grow to $30 billion by 2030: Anupriya Patel The Indian medical devices, a sunrise sector in the country with growth potential, is estimated to grow to $30 billion by 2030, Union Minister of State for Health and Family Welfare Anupriya Patel said on Thursday.  Addressing the plenary session at the 21st Health Summit of the Confederation of Indian Industry (CII), Patel noted that India is the fourth largest medical devices market in Asia after Japan, China, and South Korea. The country is also among the top 20 global medical devi...
Indian medical devices sector estimated to grow to $30 billion by 2030: Anupriya Patel
Indian medical devices sector estimated to grow to $30 billion by 2030: Anupriya Patel
Source: IANS
2024-12-19 05:44:43 pm
India`s milk market stable with low inflation rates in November: Government The overall milk situation in the country is stable with the year-on-year Wholesale Price Index and (WPI) and Consumer Price Index (CPI) inflation rates for milk recorded at low levels of 2.09 and 2.85, respectively, for the month of November 2024, Department of Animal Husbandry & Dairying (DAHD) Secretary Alka Upadhyaya, said at a review meeting here, an official statement said on Thursday.  "There is an adequate commodity stock of skimmed milk powder, whole milk powder, whi...
India`s milk market stable with low inflation rates in November: Government
India`s milk market stable with low inflation rates in November: Government
Source: IANS
2024-12-19 05:28:01 pm
India pips China in creating ultra-high net worth individuals in 2024  The country's ultra-high net worth individual (UHNI) count reached 13,600 in 2024, marking a 6 per cent annual growth, and is projected to soar by 50 per cent by 2028, far outpacing the global growth average of 30 per cent, a report showed on Thursday.  While India’s UHNI population grew by 6 per cent in 2024, China’s grew by just 2 per cent, signalling India’s rising economic prominence, according to the report by Anarock Group. India ranks sixth global...
India pips China in creating ultra-high net worth individuals in 2024
India pips China in creating ultra-high net worth individuals in 2024
Source: IANS
2024-12-19 05:22:03 pm
India`s job market projected to grow by 9 pc in 2025 India is expected to see a 9 per cent growth in hiring in 2025, according to a report on Thursday.  The report by foundit (formerly Monster APAC & ME), showed that IT, retail, telecommunications, and Banking, Financial Services, and Insurance (BFSI) sectors are the primary drivers of this growth in the country. With a 10 per cent growth in 2024 and a 3 percent month-on-month growth in November, the forecast indicates that hiring is set to retain its momentum, with a predict...
India`s job market projected to grow by 9 pc in 2025
India`s job market projected to grow by 9 pc in 2025
Source: IANS
2024-12-19 04:47:50 pm
First India-manufactured 2025 Range Rover Sport adds to India growth story Global automaker Range Rover on Thursday announced the start of sales for the 2025 'Made in India' Range Rover Sport in the country.  The ‘2025 Range Rover Sport’ – the first made-in-India vehicle exclusively for the country– is now available in smooth and powerful 3.0l Petrol Dynamic HSE and 3.0l Diesel Dynamic HSE variants, the Tata Motors Group company said in a statement. The pricing of the New Range Rover Sport now starts at Rs 1.45 crore, ex-sh...
First India-manufactured 2025 Range Rover Sport adds to India growth story
First India-manufactured 2025 Range Rover Sport adds to India growth story
Source: IANS
2024-12-19 04:43:55 pm
India`s solar equipment manufacturing capacity set to surge in next 2-3 years India's solar equipment manufacturing capacity is poised for robust growth over the next 2-3 years, with module and cell manufacturing capacity of around 80 GW and 50 GW respectively in the pipeline, according to a report.  This will entail a capex of nearly Rs 1 lakh crore with an estimated debt funding of nearly Rs 70,000 crore over the medium term, including investments in polysilicon and wafer capacities, it said. India's module and cell capacity stood at around 70 GW a...
India`s solar equipment manufacturing capacity set to surge in next 2-3 years
India`s solar equipment manufacturing capacity set to surge in next 2-3 years
Source: IANS
2024-12-19 04:04:22 pm
India`s Growth on a Stable and Resilient Trajectory: Motilal Oswal Private Wealth Management According to Alpha Strategist Report from Motilal Oswal Private Wealth (MOPW), India’s economic momentum is expected to recover in H2FY25, driven by a rebound in government capex post-elections, recovery in rural consumption, and on the back of festive season demand. India’s Q2FY25 GDP growth surprised markets at 5.4%, falling short of expectations. The decline was driven by weaknesses in mining, manufacturing, electricity, and construction, while the tertiary sector remained r...
India`s Growth on a Stable and Resilient Trajectory: Motilal Oswal Private Wealth Management
India`s Growth on a Stable and Resilient Trajectory: Motilal Oswal Private Wealth Management
Source: Motilal Oswal Wealth Management
2024-12-19 03:30:56 pm
PE investments in Indian real estate sector surge over 30 pc in 2024 Private equity (PE) investments in the Indian real estate sector reached $4.2 billion in 2024, marking a 32 per cent year-on-year (YoY) growth amid high demand in the warehousing segment, according to a report on Thursday.  Knight Frank India, an international property consultancy firm, said in a report that the warehousing sector is leading the sector, which accounts for 45 per cent of total investments, followed by the residential sector at 28 per cent and the office sector at 26 pe...
PE investments in Indian real estate sector surge over 30 pc in 2024
PE investments in Indian real estate sector surge over 30 pc in 2024
Source: IANS
2024-12-19 01:59:16 pm
India tech startups funding grows 6 pc to $11.3 bn in 2024, 3rd globally India’s tech startup ecosystem garnered $11.3 billion in funding in 2024, a 6 per cent increase from $10.7 billion in 2023, according to a report on Thursday.  In the second half (H2) of 2024, the tech startups received $5.32 billion across 540 funding rounds, a growth of 8 per cent from H2 2023 where $4.92 billion was raised across 890 rounds, according to Tracxn data. India ranked third in funding, behind only the US and the UK, and ahead of China and Germany. “The...
India tech startups funding grows 6 pc to $11.3 bn in 2024, 3rd globally
India tech startups funding grows 6 pc to $11.3 bn in 2024, 3rd globally
Source: IANS
2024-12-19 12:38:23 pm
India`s energy storage capacity poised for 12-fold leap by 2032: SBI India's energy storage capacity is expected to shoot up 12-fold to around 60 GW by 2031-32 which would play a key role in stabilising the power grid as the country transitions to renewable energy, according to an SBI Research report.  The country's energy storage landscape is evolving rapidly, with the proportion of renewable energy (RE) projects incorporating storage solutions recording a significant increase from 5 per cent in FY20 to 23 per cent in FY24, the report said. ...
India`s energy storage capacity poised for 12-fold leap by 2032: SBI
India`s energy storage capacity poised for 12-fold leap by 2032: SBI
Source: IANS
2024-12-19 12:35:52 pm
India tops list of recipient countries for remittances with $129 bn inflow in 2024 India tops the list of recipient countries for remittances in 2024 with an estimated inflow of $129 billion, followed by Mexico ($68 billion), China ($48 billion), the Philippines ($40 billion), and Pakistan ($33 billion), according to the latest figures compiled by World Bank economists.  The growth rate of remittances this year is estimated to be 5.8 per cent, compared to 1.2 per cent registered in 2023, according to a World Bank blog post “The recovery of the job markets i...
India tops list of recipient countries for remittances with $129 bn inflow in 2024
India tops list of recipient countries for remittances with $129 bn inflow in 2024
Source: IANS
2024-12-19 12:02:22 pm
Indian pharma sector 3rd largest globally, valued at $50 bn in FY 2023-24: Centre India’s pharma industry is considered to be the world's third largest by volume, and in FY 2023-24 the pharmaceutical market has been valued at $50 billion, said Union Minister of State for Chemicals and Fertilizers Anupriya Patel.  In a written reply to Rajya Sabha Patel said that in FY 2023-24, the pharmaceutical market’s domestic consumption value was at $23.5 billion, and exports were valued at $26.5 billion. The Indian pharmaceutical industry has a strong prese...
Indian pharma sector 3rd largest globally, valued at $50 bn in FY 2023-24: Centre
Indian pharma sector 3rd largest globally, valued at $50 bn in FY 2023-24: Centre
Source: IANS
2024-12-19 11:04:25 am
Startups have potential to contribute $120 billion to India`s GDP by 2030 Startups will be a core driver of India’s economic growth this ‘Techade,’ likely to contribute nearly $120 billion (or 1.6 per cent) to the country’s GDP by 2030, which will be nearly 3.5 times jump from $35 billion in 2023, according to a new report.  Given that most developed economies see between 5-10 per cent of their GDP being contributed by Tech startups, India’s journey has only just begun, according to the report by venture capital firm Kalaari Ca...
Startups have potential to contribute $120 billion to India`s GDP by 2030
Startups have potential to contribute $120 billion to India`s GDP by 2030
Source: IANS
2024-12-19 10:39:02 am
India`s tourism and hospitality sector poised for 61 lakh new jobs by 2036-37: CII EY Report A joint report by the Confederation of Indian Industry (CII) and EY has said that the country’s tourism and hospitality sector is projected to require an additional 61.31 lakh workers to cater to an increasing tourism activities by 2036-37. The CII and EY in a whitepaper titled ‘Employment Landscape in Tourism and Hospitality in India’ provides a forward-looking analysis of employment trends in one of India’s most dynamic sectors and highlights its critical role in dri...
India`s tourism and hospitality sector poised for 61 lakh new jobs by 2036-37: CII EY Report
India`s tourism and hospitality sector poised for 61 lakh new jobs by 2036-37: CII EY Report
Source: Accord Fintech
2024-12-19 10:21:41 am
Indian mills can export up to 2 million tons of sugar this season, industry says  India's sugar mills can easily export up to 2 million metric tons of the sweetener this season as domestic supply prospects improve and local prices show a downward trend, the head of a leading industry body said on Wednesday. "The supply situation looks better than initially expected, which is why the government should allow mills to export at least a million or a couple of million tons of sugar," Deepak Ballani, director general of the Indian Sugar Mills Association, ...
Indian mills can export up to 2 million tons of sugar this season, industry says
Indian mills can export up to 2 million tons of sugar this season, industry says
Source: Reuters
2024-12-18 06:24:55 pm
India`s growth momentum has picked up after Q2 slowdown: Jeffries The improvement in India's economic growth after the slowdown in the July-September quarter is visible as movement indicators like fuel consumption, vehicles tolled and air traffic have strengthened, Jefferies said in a note on Wednesday.  The Jefferies economy tracker composite indicator shows growth pick-up sustaining in November with the indicator up 6.4 per cent year-on-year, the second fastest growth pace in 13 months. "The festive season created month-on-month volati...
India`s growth momentum has picked up after Q2 slowdown: Jeffries
India`s growth momentum has picked up after Q2 slowdown: Jeffries
Source: IANS
2024-12-18 04:17:20 pm
Tourism & hospitality sector poised to add 61 lakh new jobs in India by 2034 The tourism and hospitality sector is expected to add 61 lakh new jobs in India by 2034, according to a report on Wednesday.  The whitepaper released by the Confederation of Indian Industry (CII) and EY at the 18th Annual CII Tourism Summit, showed that despite setbacks from the Covid-19 pandemic, the sector is witnessing a strong resurgence, fuelled by domestic tourism. Currently, the sector contributes to about 8 per cent of India’s total employment. The report noted tha...
Tourism & hospitality sector poised to add 61 lakh new jobs in India by 2034
Tourism & hospitality sector poised to add 61 lakh new jobs in India by 2034
Source: IANS
2024-12-18 04:05:12 pm
Over 90 pc HAM road projects in India on steady path: Crisil Road projects under the hybrid annuity model (HAM) in India, awarded by the Ministry of Road Transport and Highways (MoRTH), are on a steady drive, with more than 90 per cent of the project length under development being constructed on schedule, according to a report on Wednesday.   Such timely execution and comfortable debt protection metrics will support the credit risk profiles of these projects, according to a Crisil Ratings analysis. Over the past five fiscal years, excluding ...
Over 90 pc HAM road projects in India on steady path: Crisil
Over 90 pc HAM road projects in India on steady path: Crisil
Source: IANS
2024-12-18 04:01:48 pm
India to become renewable energy capital of World: Pralhad Joshi Highlighting India’s remarkable growth in renewable energy, Union Minister for New and Renewable Energy, Pralhad Joshi has said that India is not only witnessing an energy revolution but also becoming the renewable energy capital of the world. The Minister further said that India is one of the world’s most promising nations in the clean energy space currently under the leadership of Prime Minister Narendra Modi. Joshi further noted that between April and November of the current...
India to become renewable energy capital of World: Pralhad Joshi
India to become renewable energy capital of World: Pralhad Joshi
Source: Accord Fintech
2024-12-18 02:32:55 pm
Surging gold imports threaten India's trade balance; government should take urgent action: GTRI The Global Trade Research Initiative (GTRI) has said that India's gold imports have surged alarmingly, posing a potential threat to its trade balance and economic stability, and the government should take action to address this issue. According to commerce ministry data, the country's gold imports in November 2024 reached a record high of $14.86 billion, registering a four-fold increase, mainly on account of festival and wedding demands. Gold imports stood at $3.44 billion in November...
Surging gold imports threaten India's trade balance; government should take urgent action: GTRI
Surging gold imports threaten India's trade balance; government should take urgent action: GTRI
Source: Accord Fintech
2024-12-18 12:12:20 pm
Real estate investments in India reach historic high at $8.9 billion in 2024: JLL  Driven by strong growth and political stability, real estate institutional investments in India reached historic high levels at $8.9 billion across 78 deals in 2024, surpassing the previous 2007 record by 6 per cent ($8.4 billion), a report showed on Wednesday.  This represents a substantial 51 per cent increase (to date) from the previous year's $5.8 billion. Also, deal activity intensified, and the year saw an increase in the number of deals by 47 per cent, according to th...
Real estate investments in India reach historic high at $8.9 billion in 2024: JLL
Real estate investments in India reach historic high at $8.9 billion in 2024: JLL
Source: IANS
2024-12-18 12:05:59 pm
Novel AI-assessment tool for students launched as India creates future-ready workforce As India gears up to create a future-ready workforce in newer careers and emerging technologies, AI-enabled talent assessment and hiring platform HireMee on Wednesday launched a new tool to assist students make informed decisions about their academic and professional futures.  The Bengaluru-based company introduced the Career Navigation Assessment, a scientifically designed tool to assist students in Classes X, XI and XII (aged 14-18 years) by mapping their unique personality traits, ...
Novel AI-assessment tool for students launched as India creates future-ready workforce
Novel AI-assessment tool for students launched as India creates future-ready workforce
Source: IANS
2024-12-18 11:57:41 am