The Employees' Provident Fund Organisation (EPFO) has registered a net addition of 18.81 lakh members during September this year which represents a 9.33 per cent growth compared to the same month last year, reflecting increased employment opportunities and heightened awareness of employee benefits, bolstered by EPFO’s effective outreach initiatives, the Ministry of Labour and Employment … Read more
The Centre has urged the southern states to expedite the execution of Centrally Sponsored Schemes by ensuring timely fund allocation and addressing issues related to state contributions and Single Nodal Account (SNA) balances, an official statement said on Wednesday. The issues were discussed as part of the Centre’s mid-term review, held in Visakhapatnam on November … Read more
Karnataka is aiming to climb to second position in industrial capital investments by June 2025, announced Chief Minister Siddaramaiah on Wednesday. CM Siddaramaiah was addressing a gathering at the 78th Annual Technical Meet of the Indian Institute of Metals, (IIM-ATM 2024) and International Symposium, Poster Session and Technical Exhibition organised at GKVK campus in Bengaluru. … Read more
Nokia on Wednesday said it has been awarded a multi-year, multi-billion extension deal by Bharti Airtel to deploy 4G and 5G equipment across India. This strategic partnership with Nokia will “future-proof our network infrastructure and provide customers with unparalleled user experience along with a network that will be eco-friendly to minimise environmental impact,” said Gopal … Read more
India saw private equity/venture capitalist investments worth $4.7 billion across 91 deals in October, a 40 per cent increase from September, a report showed on Wednesday. Credit investments were the leading deal type in October, followed by growth investments, according to the IVCA-EY monthly PE/VC roundup. “October recorded $4.7 billion in PE/VC investments, 4 per … Read more
India’s insurtech sector has delivered 12 times revenue growth over the last 5 years, with cumulative funding surpassing $2.5 billion and ecosystem valuation over $13.6 billion, a report showed on Wednesday. The country has more than 150 insurtech companies, with 10 unicorns and soonicorns and more than 45 minicorns, with 12 times increase in revenue … Read more
The revenue of India’s automotive components industry is expected to cross $80.1 billion in FY2025 while exports have already touched $21.2 billion, according to B2B risk management consultancy Rubix Data Sciences. While the country’s production of automotive components has been growing at an 8 per cent compound annual growth rate (CAGR) since FY2020, exports have … Read more
The annual renewable energy installation capacity is likely to surpass 35 gigawatt over the next two years, primarily supported by a healthy pipeline of more than 100 gigawatt, according to a CareEdge Ratings report released on Wednesday. The accelerated growth in renewable energy (RE) over the last 12 months has been an outcome of … Read more
India's strong macroeconomic fundamentals – robust GDP growth, controlled inflation, managed twin deficits and record foreign reserves -have kept the rupee resilient despite foreign institutional investor (FII) outflows, a report showed on Wednesday. Most of the emerging markets have experienced FII outflows during October amid uncertainty around US election, geopolitical tensions in middle east, stimulus … Read more
India now produces 330 million tonnes of food grains annually, contributing significantly to global food trade and generating $50 billion in export earnings”, Union Agriculture Minister Shivraj Singh Chouhan said on Tuesday. Addressing the ‘Global Soils Conference 2024’ in the national capital via videoconferencing, the agriculture minister said the government is committed to supporting initiatives … Read more