In the week ending September 27, 2024, the reserves reached an all-time high of $704.885 billion. India’s foreign exchange reserves (FER) may see another year of robust accretion in FY25, supported by overseas inflows into the equity and bond markets, remittances by Indians employed overseas, and NRI deposits, say economists....

Bakul Patel, Senior Director of Global Digital Health Regulatory Strategy at Google, discussed the company's commitment to expanding its presence in India by integrating health features into platforms Technology giant Google has announced that the Ayushman Bharat Health Account (ABHA) ID — a digital health ID providing access to healthcare services and personal health records in India — will be available on Google Wallet next year. In…

Prime Minister Modi, during his visit to Maharashtra, will disburse the latest instalment of NaMo Shetkari Mahasanman Nidhi Yojana totalling ₹2,000 crore Prime Minister Narendra Modi will launch several initiatives related to the agricultural and animal husbandry sector worth around ₹23,300 crore on Saturday during his Maharashtra visit. He will also disburse the 18th instalment of the PM-KISAN Samman Nidhi worth about ₹…

TEMASEK is in talks to buy a minority stake in Haldiram Snacks, sources familiar with the matter said, a transaction that may value India’s biggest snack maker at about US$11 billion. The Singapore investment company is holding preliminary talks to buy from 10 to 15 per cent in Haldiram, the sources said, asking not to be identified because the matter is private.... More https://bit.ly/4eRwR3T Via businesstimes.com

Says deficit to decline further from 5.6 per cent of GDP in FY24 (provisional actuals) to 4.9 per cent in FY25 Finance Minister Nirmala Sitharaman on Friday said the upcoming decades will witness the steepest rise in Indians’ living standard. She said that per capita is projected to increase by $ 2,000 over the next five years. The FM simultaneously reiterated the government’s commitment to reducing the fiscal deficit.....

- Firm expands into Middle East and North Africa region - New division enables the company to tap into new growth opportunities and offer a range of services to potential customers “We are delighted to welcome Mahindra Insurance Brokers to DIFC. The firm joins over 125 registered insurers, reinsurers, captives, MGAs and insurance-related entities in the Centre. Our enabling world-class laws and regulations are on par with other global insur…

Private sector companies announced the setting up of factories and other new projects worth Rs 4.1 trillion in the three months ended September, a 42 per cent rise from the year-ago period, according to data from project tracker Centre for Monitoring Indian Economy (CMIE)....

A review conducted by the RBI revealed significant deficiencies in sourcing and appraisal, valuation, due diligence, end-use monitoring, auction transparency, Loan-to-Value (LTV) monitoring, and risk-weight application. The Reserve Bank of India (RBI) has issued a circular highlighting irregularity in the practices of granting of loans against pledge of gold ornaments and jewellery. A review conducted by the RBI revealed significant deficiencies …

The funds are earmarked for significant expansions, including setting up a new 3,000 MW solar cell and module manufacturing facility and expanding existing capabilities Solar photovoltaic (PV) module manufacturer Vikram Solar has filed its draft red herring prospectus (DRHP) with SEBI to raise up to ₹1,500 crore through an initial public offering (IPO).....

BHEL struggled to get power equipment contracts for about three years before FY24. Now, it has a full order book for boilers and engineering, procurement and construction contracts and faces a capacity constraint. The government’s renewed focus on setting up thermal power projects in the country and a surge in demand for coal-fuelled power generation have revived the fortunes of BHEL Ltd, India’s largest power equipment manufacturer, …

Insurers exploring ways to foot the financial burdern Life insurance business is all set to enter a new phase from Tuesday, as the new norms on surrender value brought in by the Insurance Regulatory and Development Authority of India (IRDAI) will come into effect from October 1, 2024....

The international pavilion of India at the 26th edition of the Water, Energy, Technology and Environment Exhibition (WETEX) will host 29 leading companies keen to highlighting their latest innovations in renewable energy, water treatment, sustainability and more. Dubai Electricity and Water Authority (DEWA) organises WETEX annually under the directives of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and R…

In an era where digitisation and Gen AI are set to transform industries, B-schools have a crucial role to play in bridging the skills gap and empowering graduates to succeed. How are they preparing for this challenge?...

In cases such as Byju's, Future Retail, Smaash and Go First, RPs have found themselves under fire from lenders. Charges vary from wrongful classification of creditors and collusion with previous managements, to mismanagement of daily affairs....

Until now only domestic airlines’ staff could carry out tasks such as manning aircraft or frisking passengers in secondary checks. Foreign airlines can now contract airport operators for security functions, opening up competition and reducing service disruption risks.....

Number of filings this year cross 100 Twenty companies have filed their draft offer documents for initial public offerings (IPOs) in September, the most number of filings in a month this year and the third highest in a decade.....

Navneet Munot, MD and CEO, HDFC Asset Management, delivered a powerful message at the India Today Conclave 2024, sharing his tried-and-tested wealth creation formula: Sound investments, Time, and Patience (STP). While sharing his views, the veteran fund manager said that this simple approach has stood the test of time and will continue to do so for the coming years. “There’s no other formula,” he said. “STP is the key to l…

As data center demand from tech giants surges in India, Adani has drawn a $4 bn investment plan. Adani's rivals-Nxtra by Airtel, Brookfield-RIL JV, and Yotta by Hiranandani too embark on significant expansion plans. The demand is rising especially due to power constraints in AI-driven services...

Passive products may do a world of good for investors One major event that caught almost the whole of India’s attention was Anant Ambani’s wedding with Radhika Merchant. A month-long celebration from pre-wedding party to actual marriage in July continues to create buzz in social media, as celebrities across social spectrum — politicians, film and sports and business tycoons both domestic and international — graced the occa…

Japan's biggest chip equipment maker plans to hire and train local engineers in or around 2026, with their first task to provide technical services to Tata Electronics Tokyo Electron Ltd. seeks to build a team of chip engineers in India to better ride the Modi government’s push for more semiconductor manufacturing in the world’s most populous country....

“Sometimes I am asked why I talk about mutual funds so much... Nowadays I talk a lot about REITs. But people say, 'Oh, why is she talking so much about this? ICICI is involved, etc.' All this leads to controversy, you see," she said. At the Association of Mutual Funds in India (AMFI) annual event, Sebi chief Madhabi Puri Buch made a pointed statement about regulatory humility, saying, “Markets today are so complex; any arrogant regula…

Accenture records a revenue of $16.41 billion in the fourth quarter Global IT consulting giant Accenture released its quarterly results on Thursday for the fourth quarter of the financial year ended August 31, 2024. The company, whose performance is seen as an indicator for the fortunes of the Indian IT services industry, expects revenue growth of 3-6 per cent in local currency for fiscal year 2025....

70% of urban Indian household surveyed likely to use stores and market for shopping According to a survey, one in two Indian households surveyed will spend over Rs 10,000 this festive season. The report by LocalCircles also said that almost 70 per cent of buyers will prefer to shop from shops and markets rather than online. The survey is based on the responses of 49,000 households from 342 urban districts of India. Forty-four per cent of responde…

Real estate investment trusts (REITs) are gaining traction as interest rates stabilise. But returns could be affected by adverse economic conditions There was palpable excitement in March 2019 as a new asset class was taking birth. It was finally time for the launch of the initial public offering (IPO) of Embassy Office Parks REIT (real estate investment trust), which marked a partnership between real estate major Embassy Group and private equity…

Anti-dumping, anti-subsidy duties, QCOs, international collaboration are some of the options, say officials India is bracing to meet the challenges posed by Beijing’s ‘Made in China 2025’ strategy, a three-step plan to promote China as a high-tech manufacturing powerhouse by 2049, through a slew of measures to check subsidised imports including anti-dumping and anti-subsidy duties, quality control orders and possible c…

05 Oct 2024 Dubai Opera Dubai Opera welcomes the Argentine music legend Gustavo Santaolalla for the first time ever to celebrate 25th anniversary of his iconic album ‘Ronroco’.  About Gustavo Santaolalla Gustavo Santaolalla is a distinguished artist whose career spans several decades and multiple genres. Known for his evocative and rich musical compositions, Santaolalla has made significant contributions as a sol…

He noted that while Zerodha's business may appear stable based on its financials, the reality is that it could change rapidly due to shifts in regulation or market conditions. Zerodha founder and CEO Nithin Kamath in a blog post revealed why his company has stayed away from the urge to go public despite the soaring valuations that an IPO could bring.....

Expected to begin operations in six months, the new firm Dassault Aviation Maintenance, Repair and Overhaul India (DAMROI) will expand its activities. French aircraft maker Dassault Aviation is setting up a maintenance, repair and overhaul (MRO) facility near Noida, aiming to provide support to the French-origin fighter jets in the Indian Air Force like Rafale and Mirage 2000, reported ANI....

The average annual exponential growth of India’s population is on a downward trajectory and is expected to decline from 2.20 per cent in 1971 to 1 per cent in 2024, placing the national population in the range of 138-142 crore in 2024, according to SBI’s economic research department (ERD)....

Under the new plan, the government plans to expand the country’s transmission network to 6.48 lakh circuit kilometers (ckm) in 2032 from 4.85 lakh circuit kilometers in 2024. The government is expecting investments to the tune of Rs 9.15 lakh crore in the central and state transmission systems by 2032, as part of the revised National Electricity Plan, Union Minister for Power Manohar Lal Khattar said on Monday.... More https://bit.ly/4…

Executives of AR Dairy Food met FSSAI officials in Chennai over the controversial issue A company that began as a manufacturer of liquid oxygen and later shifted to dairy production in the mid-90s has made a mark in that business. Now, in 2024, the same company, AR Dairy Food, is in the midst of a political storm in Andhra Pradesh...

India saw a 22 per cent increase in Indian flagged ships or vessels over a 10 year period to 1526 in 2023-24 The Shipping Ministry has carried out a detailed study and has got inputs from multiple stakeholders, and is in the process of “finalising schemes for assisting shipbuilding.” This includes setting up a ₹25,000-crore Maritime Development Fund, aimed at providing low-cost, long-term financing options.....

During my third term, I have very ambitious goals to achieve, we have to move forward with three times the strength, Modi added Terming India as a "land of opportunities", Prime Minister Narendra Modi on Sunday told a mega gathering of Indian-Americans that he has set very ambitious goals for the country during his third term.....

Mumbai's Rs 58,000-cr ring roads plan: The network of ring roads would help in decongesting the city, ease traffic jams and cut travel over the next five years. The Mumbai Metropolitan Region Development Authority (MMRDA) has plans to encircle Mumbai with a network of ring roads to be constructed at an outlay of Rs 58,000 crore. According to reports the plan has been approved for the network of roads, bridges and tunnels that will cover around 90…

Air India’s consolidated international market share is 24 per cent and the airline aims to grow it further with network expansion and service improvements Air India launched its Mumbai-London flight in June 1948. It was the first regular service by an Asian carrier to Europe and with its launch Air India challenged established global airlines of the era.....

The luxury car market in India currently remains very small accounting for less than 2 per cent of the overall passenger vehicle market in the country Luxury carmakers Mercedes-Benz, Audi and BMW are eyeing robust sales during the festive period this year with demand for high-end cars continuing to see an upward trend in India....

Manba Finance: Opening for subscription from September 23 to September 25, this IPO has a price band set at ₹114-120 per share. The entire issue, valued at ₹151 crore, will consist of fresh shares intended to bolster the company’s capital base for future growth.....

“India’s flexible workspaces have surged to 65 million sq. ft., and we expect it to surpass 100 million soon. Enterprises now lead this shift, driven by a need for speed and flexibility post-pandemic.” Says Amit Ramani, founder and CEO, Awfis in this State of the Economy podcast with Abhishek Law.  Awfis has garnered attention by becoming the first coworking company in India to go public within just nine years of …

The key element of the CSG, however, is its air wing. As a ballpark figure, an aircraft carrier deploys one combat aircraft for every 1,000 tonnes of carrier The Indian Navy’s second aircraft carrier, which happens to be the first one that is indigenously built, joined the Western Fleet in Karwar for joint exercises that include twin-carrier fighter operations...

At an event, RK Jha, Managing Director and CEO, LIC Mutual Fund, said the AMC is working with registrar KFintech Service and will file an addendum early next month to reduce minimum daily and monthly SIP limit of Rs 100 and Rs 200, respectively. LIC Mutual Fund is considering lowering the minimum daily SIP investment limit to Rs 100 from the current Rs 300 to attract a larger number of investors. Additionally, there are plans to decrease the mont…

Distributors federation AICPDF alleges anti-competitive conduct by quick commerce giants In a significant move, the Commerce and Industry Ministry has referred the complaint from the FMCG distributors’ association, AICPDF, against ‘quick commerce firms’ to the Competition Commission of India (CCI).....

Gupta, who manages over ₹1 lakh crore in assets and has a personal net worth of approximately ₹41 crore, spoke candidly about her relationship with money during a recent podcast. Radhika Gupta, the CEO of Edelweiss Asset Management, has no problem driving an Innova, even with her impressive financial success.“When I graduated from college and people would say, ‘Oh, you don’t have a fancy handbag,’ I would feel insecure…

The three-decade-old Adani group is building up massive funds to fuel its most aggressive growth strategy ever as it rebounds from the effects of the Hindenburg allegations with ambitions to become India’s No.1 player in critical sectors such as cement and defence....

According to Anarock Group, there was a 15-20 per cent increase in demand by NRIs in 2023 compared with 2022 and the first half of 2024 has seen similar traction Investments by non-resident Indians (NRIs) into the Indian real estate market has surged over the past 20 months, growing at 15-20 per cent and their share in total investments in the sector is expected to rise to a fifth from 10-15 per cent earlier, according to industry players.....

Refunds worth over Rs 2.05 trillion were issued, a 56.49 per cent jump over the same period last fiscal Net direct tax collection grew 16.12 per cent to over Rs 9.95 trillion so far this fiscal on higher advance tax mop up. Refunds worth over Rs 2.05 trillion were issued, a 56.49 per cent jump over the same period last fiscal.....

Anirban Chowdhury's post on the trip sparked a wave of reactions on X, with many people asking questions about how he managed to afford such a lavish vacation A software engineer from Jharkhand has taken the internet by storm after his post about a five-night luxury stay at JW Marriott's lodge in Masai Mara, Kenya—worth ₹5.5 lakh a night — went viral. The catch? He didn’t spend a single rupee.....

Bill to amend the Constitution likely to be introduced in winter session The Union Cabinet on Wednesday approved recommendations of the High-Level Committee on Simultaneous Elections and hence paving the way for ‘One nation, one election’. Sources have indicated introduction of a Bill to amend the Constitution during the Winter Session of Parliament.....

The NPS Vatsalya scheme will be managed under the supervision of the Pension Fund Regulatory and Development Authority (PFRDA). Union Finance Minister Nirmala Sitharaman is set to introduce the latest scheme, NPS Vatsalya, under the National Pension System. Unveiled during the comprehensive Budget unveiling in July 2024, this scheme is tailored for parents or guardians looking to make long-term investments for their minor children. The NPS Vatsal…