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Updated: 5 min 23 sec ago

ESIC to expand its reach in over 750 districts of country: Labour Minister

8 hours 20 min ago
The 350 bedded hospital will be spread over 9.5 acres and would entail an expenditure of Rs 500 crore

Rupee loses 10% vs USD over a year, FX reserves fall to near 2-yr low

8 hours 26 min ago
The rupee has depreciated 9.7 per cent against the dollar since September 2021

Fund of Funds for startups committed Rs 7,385 cr to 88 AIFs: Govt

8 hours 58 min ago
The Fund of Funds for startups, launched in 2016, has committed Rs 7,385 crore to 88 alternative investment funds (AIFs) as of September 24 this year, the commerce and industry ministry said on Monday. These AIFs in turn have invested Rs 11,206 crore in 720 startups, it said. The Fund of Funds (FFS) initiative has been playing a major role in mobilising domestic capital in the Indian startup ecosystem., it added. FFS was announced with a corpus of Rs 10,000 crore. The corpus is to be built up over the 14th and 15th Finance Commission Cycles (2016-2020 and FY 2021-2025) through budgetary support by the Department for Promotion of Industry and Internal Trade (DPIIT), under the ministry. Under FFS, support is extended to SEBI-registered AIFs, which in turn invest in startups. "FFS has not only made capital available for startups at early stage, seed stage and growth stage but also played a catalytic role in facilitating raising of domestic capital, reducing dependence on foreign capi

Rupee fall may or may not help exports, says FM Nirmala Sitharaman

9 hours 16 min ago
Sitharaman said the central bank has used nearly $75 billion to stop fluctuations and severe volatitlies in rupee-dollar exchange rate

Uttar Pradesh tops GeM chart with GMV of more than Rs 24,000 crore

9 hours 33 min ago
The Centre has incrementally been expanding the GeM shopping basket by offering over 300 services and 10,000 goods categories for government sector buyers

Nearly 1.2 million farmers benefit from power subsidy in Rajasthan

9 hours 36 min ago
The state government on July 17 last year launched the scheme

Indian economy showing resilience and recovery, says CEA Nageswaran

9 hours 44 min ago
Chief Economic Advisor (CEA) V Anantha Nageswaran on Monday said the Indian economy was on the path to recovery but cautioned that foreign investors may remain cautious because of geopolitical challenges. Speaking at a virtual seminar organised by Swadeshi Research Institute, he said all sectors of the economy such as agriculture, manufacturing and construction are "doing well". "The Indian economy is showing resilience and on the path to recovery. Private demand and the services sector are doing better than expected," he said. Private capital formation is taking place, while foreign direct investment (FDI) flow is keeping steady, he said. However, there are challenges, and geopolitics is messy for which foreign investors are cautious, the CEA said. Noting that India has a "well-capitalised banking sector", the economist said, the Insolvency and Bankruptcy Code (IBC) also played a big part in "improving the health of the banking system" which had high NPAs due to the financial cri

Foreign trade policy extended by six months amid global headwinds

10 hours 40 min ago
An FTP is an elaborate policy guideline and a strategy to promote export of goods and services

Govt decides to extend existing Foreign Trade Policy by another six months

11 hours 14 min ago
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. Additional Secretary in the Department of Commerce, Amit Yadav, said there were demands from different quarters, including industry associations and export promotion councils, to extend the policy and not introduce the new one at this time. They have stated that currently there are challenges like global uncertainties and currency fluctuations. There was also a view to align the rollout of the new policy with the new financial year. A notification in this regard will be issued by the Directorate General of Foreign Trade (DGFT). "We will have to defer the release of the new policy. The existing policy will be continued," Yadav told reporters here on Monday. He added

OECD, S&P keep India's economic growth forecasts unchanged for FY23

11 hours 58 min ago
S&P noted that India's domestic recovery from Covid-19 would continue to support growth in FY23

Fixed investment tenor of 10 years under guaranteed return scheme: PFRDA

12 hours 34 min ago
Only those investors who remain invested for 10 years will get a guaranteed return and if the actual return falls below the assured amount, pension fund managers shall bridge the gap

Top headlines: Rupee at new low; Unilever CEO to quit end of next year

14 hours 6 min ago
From rupee touching a new low to Unilever CEO quitting by end of next year; here are the top headlines this evening

ITeS sector's growth prospects in FY23 augur well for SMEs: CRISIL

14 hours 8 min ago
In FY22 the ITeS sector's revenue logged 13-15% growth to about Rs 3.1 tn, riding on volume recovery across the three key segments - customer relationship management (CRM), knowledge, and transactions

India's campaign for rupee trade finds fans from Russia to UAE

14 hours 40 min ago
A greater use of the rupee in tea trade is an encouraging sign, but it's unlikely to boost the currency's status in a major way

Gateway Partners sees over $1 bn investment potential in India in 5-10 yrs

16 hours 56 min ago
Gateway Partners is planning to invest over USD 1 billion in the next five to 10 years in the booming Indian economy, according to a top company official. It has already invested over USD 250 million in several Indian assets over the past five years. "Over a billion US dollars over the next five to 10 years," V Shankar, co-founder and CEO of Gateway Partners told PTI on Monday when asked about his investment plans for India at the sideline of the Forbes Global CEO Conference in Singapore. "We are looking at tonnes of opportunities in India, said Shankar, adding he was very optimistic about the consumer-driven Indian market. He also noted that foreign investment flow into India was being encouraged by domestic investments, led by entrepreneurs in the infrastructure-industrial programmes and long-term economic development plans. Reflecting on the consumer spending in the country, he said Gateway Partners has just opened two outlets last in Delhi and the NCR region. Tim Hortons, a .

Govt looking to plug loophole in solar equipment import duty: Report

19 hours 23 min ago
The central government is looking at ways to plug a loophole in regulations that are allowing solar power developers to avoid paying duties of nearly 40% on cells and modules

S&P projects India's FY23 GDP growth at 7.3%, pegs inflation above 6%

20 hours 40 min ago
S&P Global Ratings on Monday projected India's economic growth at 7.3 per cent in the current fiscal with downside risks and said inflation is likely to remain above RBI's upper tolerance threshold of 6 per cent till the end of 2022. In its Economic Outlook for Asia Pacific, S&P said India's growth next year will get support from domestic demand recovery after the coronavirus pandemic. "We have retained our India growth outlook at 7.3 per cent for the fiscal year 2022-2023 and 6.5 per cent for the next fiscal year, although we see the risks tilted to the downside," it said. Other agencies have cut India's GDP growth forecast amid higher inflation and rising policy interest rates. Earlier this month, Fitch Ratings slashed the growth estimate to 7 per cent for the current fiscal from 7.8 per cent pegged earlier. India Ratings & Research too had reduced its projections to 6.9 per cent from 7 per cent earlier. Asian Development Bank has cut the projection to 7 per cent from ...

Defence exports up 334% in last 5 yrs, now exporting to 75 nations: Govt

Sun, 09/25/2022 - 12:14
Defence exports have grown by 334 per cent in the last five years and India is now exporting to over 75 countries due to collaborative efforts, the government said on Sunday. The Press Information Bureau (PIB) said in a tweet: "The Indian Defence sector, the second largest armed force is at the cusp of revolution." "Defence exports grew by 334 per cent in the last five years; India now exporting to over 75 countries due to collaborative efforts," it said. The PIB India Twitter handle also shared some data in a poster attached with the tweet to underline the indigenisation and boost of production in the defence sector. It mentioned the recent commissioning of India's first indigenous aircraft carrier INS Vikrant in Kochi. It also mentioned about the indigenous Advanced Light Helicopter Mk-III's squadron being commissioned into the Indian Coast Guard, and successful testing of new generation nuclear-capable ballistic missile 'Agni P'. Defence Secretary Ajay Kumar, during an interac

Story in numbers: Mystery of unknown sources of political party funding

Sun, 09/25/2022 - 12:00
Known sources have been defined as donations above Rs 20,000, whose donor details are available through contribution reports as submitted by national parties to the ECI

Post FTA, non-petroleum exports to UAE up 14% in June-August: Govt

Sun, 09/25/2022 - 11:22
Growth in shipments to Emirates is 5x that to the rest of the world; surge primarily led by gems and jewellery, electrical equipment