India

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While STEM focus in education is important, it is equally important and necessary to focus on critical streams such as economics to build sufficient talent capacity as a nation At a time when the world is going through geopolitical and economic instability, the emergence of India as an economic and political powerhouse and a force to reckon with assumes the greatest significance. Our country is on the threshold of a major transformation with our …


The GoM, headed by Meghalaya Chief Minister, has recommended that online gaming should be taxed at full value of the consideration, including contest entry fee paid by the player on participating The GST Council in its meeting this week is likely to vet a proposal of the panel of state finance ministers on levying 28 per cent GST on online gaming, casinos and horse racing, sources said......


Telecom and IT Minister Ashwini Vaishnaw said that semiconductor plant proposals received under Rs 76,000 crore Semicon Mission by the government are under evaluation. The indigenous 5G technology developed by the TCS-CDoT-led consortium has the potential to win global deals as people the world over are looking for trusted telecom solutions and no country can match the level of trust India can bring in, Telecom and IT Minister Ashwini Vaishnaw ha…


So far this month, at least six AMCs -- including PGIM India Mutual Fund (MF), Sundaram MF, Baroda BNP Paribas MF, LIC MF and Franklin India MF -- have filed offer documents with Sebi seeking its approval to launch new schemes After a temporary pause, asset management companies are gearing up to launch new mutual fund schemes from the next month as capital markets regulator Sebi's three-month ban on the introduction of new fund offerings nears i…


Constitutes 10 sectoral group of secretaries aimed at reducing interference in the lives of the citizens, building modern infra Prime Minister Narendra Modi‘s vision for governance in India in 2047 envisages....


After Meesho, travel tech startup EaseMyTrip is the latest to be informed about smear campaigns against the companay on Twitter In the first week of June, e-commerce unicorn Meesho sent legal notices to some social media influencers for posting negative reviews of the company. Recently, the person who brought to light the smear campaign against Meesho, Ravisutanjani Kumar, vice president, partnerships, Testbook also revealed on Twitter that compe…


The Reserve Bank of India’s (RBI’s) move to disallow loading prepaid payment instruments (PPIs) from credit lines may affect 8-10 million customers who are part of the “buy now pay later” (BNPL) universe, say players who are feeling the heat owing to the regulatory diktat.....


We want to focus on quick commerce, says Zomato chief Deepinder Goyal Zomato’s board has approved the acquisition of quick commerce company Blinkit for ₹4,447 crores or $570 million. The acquisition has happened at a discounted valuation as compared to Blinkit’s unicorn valuation ($1 billion) in 2021. Post the acquisition, the Blinkit team and CEO Albinder Dhindsa will continue to run the company as an independent entity and app..…


There are signs that inflation may be peaking, says RBI Dy Guv Michael Patra Asserting that India was weathering the inflation storm well, RBI Deputy Governor Michael Patra said the central bank is hopeful that it will be able to bring inflation back to target within a two-year time span. If the monsoon brings with it a more benign outlook on food...


Will allow customers to make informed decision, also help in exports, says Minister Gadkari India will soon set up a domestic testing authority called Bharat NCAP (New Car Assessment Programme), which will provide star ratings to vehicles based on their performance in crash tests The Government, on Friday, approved the draft notification to introduce Bharat NCAP, a crash test programme, wherein automobile manufacturers can send their vehicles t…


India's largest business-to-business e-commerce platform said it has achieved positive unit economics and gearing up for an IPO Nine months ago, three friends Amod Malviya, Sujeet Kumar, and Vaibhav Gupta, who founded Udaan in 2016, again reached a turning point, where they had to make a critical decision for the firm. The company had already become India’s largest business-to-business e-commerce platform amid coronavirus pandemic. The form…


Gathered at the BT MindRush event, top start-up founders asserted that there is no proof of Indian start-up ecosystem floundering. And that despite macroeconomic headwinds, the ecosystem is still flourishing. With Covid-19 pandemic receding and economy reviving, Indian start-ups expect their businesses to come back on track with a big boom.....


2022-06-24

Launch of eAuction Module in IREPS


This comes even as the full-service carrier rolled out a voluntary retirement scheme for its employees Tata Group-owned Air India has offered to re-hire pilots post their retirement for a five-year period as the airline looks for stability in operations amid talk of acquiring 300 single-aisle planes, according to internal communication. Air India is considering re-hiring these pilots as commanders, it said. This comes even as the full-service c…


The Indian benchmarks recouped most of the previous session losses and ended on a positive note in a highly volatile session on June 23 with the Nifty comfortably finishing above 15,500. At close, the Sensex was up 443.19 points or 0.86% at 52,265.72, and the Nifty was up 143.40 points or 0.93% at 15,556.70. After a flat start, the market gained upside momentum as the day progressed. However, selling in the afternoon session erased the intraday l…


Here is a quick step-by-step guide on how to file your income tax return (ITR) for the assessment year 2022-23 Income Tax Return (ITR) filing for the assessment year 2022-23 is now available on e-filing portal, the income tax department said on Wednesday. "Check your Form 26AS, AIS and other relevant documents before submission. Be an early filer," tweeted the I-T Dept.....


As per brokerage firm Motilal Oswal, the corporate profit to GDP ratio was driven primarily by the expansion in the Indian economy. Now the key question remains: will it continue?     India’s corporate profit to GDP ratio bounced back to a decade high of 4.3 per cent in FY2022, according to Motilal Oswal Financial Services. The brokerage believes that the ratio was driven by the expansion in the economy, as the denominator (GDP) …


The government on Wednesday organised a mega buyer-seller meet under the One District One Product initiative that saw participation from 70 sellers, traders, farmers, and aggregators from various districts of the north eastern states. The meet focussed on agricultural products from the eight North Eastern states and also saw presence of multiple national and International Brands.....


With falling gas prices, India to save in forex reserves as it imports half of its gas requirements through liquified natural gas The correction in Indian equities, which started in April 2022, does not seem to be abating at all. The small relief rally in May 2022, did not sustain and the market has been making new lows over the past month. Concerns over global inflation has made investors jittery, resulting in a 7 per cent decline in NSE Nifty…


The market was completely caught in a bear trap after a day of rally and fell more than one percent on June 22, dragged by selling across sectors and weak global cues. The BSE Sensex tanked more than 700 points or 1.35 percent to 51,823, while the Nifty50 plunged 225.50 points or 1.44 percent to 15,413 and formed a bearish candle on the daily charts.   "After a sustainable upside bounce on Tuesday, the Nifty showing immediate reaction…


China, India, and South Korea remain Saudi Arabia’s main trading partners, as the Kingdom's overall merchandise exports increased by 98 percent to SR137 billion ($36.51 billion) in April, up from SR69.3 billion in April 2021, according to the General Authority for Statistics. The government data revealed that Saudi Arabia’s exports to China amounted to SR23.4 billion in April 2022, accounting for 17 percent of the total exports.....


This compensation average includes both, promoter CEOs' salary as well as professional CEOs and also accounts long-term incentives (LTIs) Indian CEOs in FY22 got an average compensation of Rs 11.2 crore, with median compensation of Rs 7.4 crore, which is the highest in three years, the Economic Times reported. According to the 2022 Deloitte India Executive Remuneration Survey, the average compensation of CEOs in FY21 was Rs 9.4 crore (Rs 6.4 cror…


Armed with four stores in India, the Swedish home furnishing major is now eyeing Delhi-NCR market in its next phase of expansion. Swedish home furnishing giant IKEA is finally getting bullish about the India market with back-to-back store openings over the next couple of years. The retailer, that is today unveiling its fourth store in Bengaluru, is planning to launch at least 3-4 large format stores in quick succession, top executives at its Indi…


HDFC Bank MD and CEO, Sashidhar Jagdishan said the proposed merger with HDFC is an opportunity that the bank cannot afford to miss. Following the merger, the CEO announced HDFC Bank's plan to double its network in the next 3-5 years. To take the initiative ahead, the bank will open up to 2,000 branches every year....


Emirates, Lufthansa bet on the national carrier’s growth under the new leadership Global airline executives, including Emirates president Tim Clark and Lufthansa’s CEO Carsten Spohr, believe that Air India, under the Tata group, has a great opportunity to capture larger share of the international aviation market. Airline operations in India are difficult, said Clark.....


2022-06-22

To improve job opportunities and provide practical training, the Ministry of Skill Development and Entrepreneurship (MSDE) organized the Pradhan Mantri National Apprenticeship Mela across 10 districts in Odisha today. Opportunities for apprenticeship training in more than 500+ trades across 36 sectors were offered to the participants.    Source: PIB India


The market continued its bull run for the third consecutive session on January 4, hitting the highest closing level since November 17, backed by banking and financials, and select FMCG and IT stocks. The BSE Sensex shot up by 672.71 points or 1.14 percent to 59,855.93, while the Nifty50 jumped 179.60 points or 1.02 percent to 17,805.30 and formed a bullish candle on the daily charts.


2022-06-21

The trade and logistics industry is ripe for high-scale automation. Our teams will be working towards making existing solutions more efficient and building new solutions – from conception to execution – helping deliver a seamless flow of trade from the ground up.  Mike Bhaskaran, COO of Digital Technology, DP World   DP World has taken a new leap in its drive to open up new markets and offer innovative trade solutions with t…


The Bengaluru-based startup has secured an investment of $153 Mn from WestBridge Capital in a Series C funding round The startup was founded by Nilesh Patel, Prashant Singh, and Sudhakar Gorti in 2011. It aims to to make high-velocity sales execution software a growth engine for companies all over the world......


'I think that the protests, raising your voice is justified and is permitted in a democracy. But this vandalism, this violence is not permitted and will not be tolerated at all' Raising voice is permitted in a democracy but not vandalism and violence, said National Security Advisor Ajit Doval on Tuesday in the wake of widespread violence across the country against the recently announced Agnipath military recruitment scheme. "I think tha…


Industry experts have said the national flag carrier’s decision to consider placing one of the largest orders in the history of commercial aviation is straight out of the industry playbook. A spate of source-based reports claiming that Air India may be placing orders for up to 300 aircraft once again gives credence to forecasts that, together with China and Southeast Asia, India would also be driving sales growth at the world’s leadin…


Indian-Made Foreign Liquor manufacturer Tilaknagar Industries has announced the launch of a flavoured brandy under its flagship brand, Mansion House. The company said this is the first ‘French-style premium’ brandy to be launched. With this move, it said it aims to expand its bouquet of premium brandy offerings to cater to the preferences of new consumers. The company plans to further increase its market share in south, east and north…


With housing and roads expected see a boom, cement makers will be jockeying for the top slot Battle lines have been drawn between Kumar Mangalam Birla-backed UltraTech and Gautam Adani’s Adani Cement to become the dominant player of the country’s cement market. In May this year, Adani defeated Birla in a hotly contested bidding war to acquire Holcim’s India business, the Ambuja Cement-ACC combine for a whopping $10.5 billion..…


Air passengers are expected to hit 83 percent of pre-pandemic levels this year and the aviation industry's return to profit is "within reach" in 2023, the International Air Transport Association said on Monday. "Airlines are resilient. People are flying in ever greater numbers. And cargo is performing well against a backdrop of growing economic uncertainty," IATA director-general Willie Walsh said in an upgraded industry forecast for 2022.


The market returned to positive territory on June 20 with the BSE Sensex rising more than 200 points, backed by FMCG, IT stocks and HDFC twins. The rally in European counterparts also aided momentum at Dalal Street. Experts call it a relief rally after the market entered into oversold levels, as the benchmark indices had fallen around 7 percent in the previous six consecutive sessions.   The BSE Sensex closed 237 points higher at 51,5…


Having gone through crests and troughs over last two years – with disruption in supply chain, labour shortage, halted construction and more, the Indian real estate scenario is getting back on its feet observes the President of CREDAI, Harsh Vardhan Patodia. The real estate industry went through multiple challenges over the pandemic years with supply chain disruption, labour crisis, and budget crunch slowing down growth. Construction rates h…


Kotak Investment Advisors Ltd (KIAL), the alternate assets arm of Kotak Mahindra Group, plans to expand into venture capital, venture debt and buyouts, a senior executive said. “Currently, we are not in the venture capital, venture debt and buyout space. These are interesting spaces where Kotak wants to have a presence and thereby build a full suite of products... On the venture capital, buyouts and venture debt front, India doesn’t h…


Ministries concessions planned; intake will go upto 1.25 lakh soon, says Defence Ministry The Army, Navy and the Air Force on Sunday announced a broad schedule for recruitment of Agniveers as top officials ruled out any plans for a rollback of the scheme despite large scale protests across the country.....


The  market extended losses for a sixth consecutive session with the benchmark indices hitting a new 52-week low on June 17, dragged by auto, FMCG, IT, pharma and oil & gas stocks. The BSE Sensex fell 135 points to 51,360, while the Nifty50 declined 67 points to 15,293 to form a Doji pattern on the daily charts. During the week, the index corrected 5.6 percent and formed a Bearish Belt Hold pattern on the weekly scale.   "The…


Canam, a leader in the international education industry, has crafted innovative solutions in hybrid ground and cloud edtech space Founded in 1997 with just one mission 'to provide global and equal opportunities to every Indian student; importantly democratising access to quality education' Sukhmeet Grewal and Anuraj Sandhu have seen their organisation grow from a size of 2 to a 800 strong team. Every year, nearly 500,000 students leave the shores…


Adani Wilmar has reduced the maximum retail price (MRP) of Fortune refined Sunflower oil's 1-litre pack to Rs 210 from Rs 220, the company said in a statement. FMCG firm Adani Wilmar on Saturday slashed the prices of its edible oils by Rs 10 following the government's move to reduce import duties on the commodity. Adani Wilmar has reduced the maximum retail price (MRP) of Fortune refined Sunflower oil's 1-litre pack to Rs 210 from …


Telecom minister Ashwini Vaishnaw said India is developing 4G and 5G stacks, and is set to bolster its position as a trusted source for the world, in digital networks. Telecom minister Ashwini Vaishnaw on Saturday said 5G deployment will commence in 20-25 cities and towns by the year-end, and indicated that India, with its current data prices significantly lower than global average, will continue to set rate benchmarks as new services are rolled …


The company will sell new shares worth ₹300 crore at the initial share sale Deltatech Gaming Ltd, the company which runs poker platform Adda52, has filed share sale documents with markets regulator Securities and Exchange Board of India (Sebi) to raise ₹550 crore through an initial public offering....


Here is the nifty prediction for the coming week Can Nifty see a corrective bounce to 15,750 before another round of sell-off drags it below 15,000? Read this week’s Index outlook here BL Portfolio: https://www.thehindubusinessline.com/portfolio/


Anish Achuthan, co-founder and CEO of Open decided to embark on the journey of entrepreneurship when he was just 15 years old. This was after he read the inspiring story of Hotmail's Sabeer Bhatia. There has been no stopping ever since. From running away from home right after class 10 and living in a temple for two to three years to launching 4 fintech startups before Open, including iFuturz Wireless in 2001, CashNxt in 2077, Neartivity Wireless …


Global tech giants want the entire 1200 MHz of spectrum in this band delicensed while Indian telcos want it licensed for 5G services Global tech companies are again bracing for a battle with Indian telecom companies, and this time it is over delicensing of the valuable 6-GHz band (5925-7125 MHz)....


Speaking with Business Today TV managing editor Siddharth Zarabi, Kumar said maintained that LIC has always been a contrarian investor. “We will always buy in a falling market and sell in a rising market”, he said. The Life Insurance Corporation of India (LIC), one of the largest investors in the Indian market, sees the current correction as an opportunity to buy stocks...


The net direct tax means the gross collections minus the refund Income Tax Department on Friday reported surge in net direct tax collection by over 45 per cent during April 1 to June 16. It has also said the latest number on advance tax topped ₹1 lakh crore, registering 33 per cent growth. The Department said that the net collection are at ₹3.39 lakh crore compared to ₹ 2.33 lakh...