Recognised startups in India have created over 16.6 lakh direct jobs across more than 55 varied industries, the Parliament was informed on Friday. The highest number of direct jobs were created in the IT sector (2,04,119), followed by healthcare and life sciences (1,47,639), and professional and commercial services (94,060), Minister of Commerce and Industry, Piyush … Read more
Leading industry chamber Assocham on Friday said that the decision by the Reserve Bank of India (RBI) to cut the cash reserve ratio by 50 basis points, releasing Rs 1.16 lakh crore into the banking system, is a pragmatic measure to maintain the inflation-growth balance in the face of evolving macro-economic situation. The chamber also … Read more
India's CEAT said on Friday it would buy French tyremaker Michelin's Camso brand for $225 million, as it looks to expand into higher-margin tyres at a time when elevated rubber prices have eaten into its profits. Camso, a Canadian brand that Michelin acquired in 2018 for $1.45 billion, makes tyres that are fitted into heavy-duty … Read more
Amid a positive turnaround from foreign institutional investors (FIIs) to India, the Indian stock market maintained a positive outlook throughout the week as the core sector output in October and stability in service PMI data showed signs of recovery, experts said on Saturday. FIIs returning to India in expectation of a dovish monetary policy by … Read more
India’s youth are the nation’s true wealth, with their talent and skills being recognised and appreciated globally, Union Minister for Labour and Employment, Dr Mansukh Mandaviya, has stressed. During his address at an event in the national capital, the minister emphasised that Indian professionals are contributing significantly to fulfilling global workforce needs. The webinar was … Read more
As demand for Indian products in the global market surges across categories, the country’s total exports reached about $778 billion in FY2023-24, compared to $466 billion in FY2013-14 — a whopping 67 per cent growth. India’s share in world merchandise exports also improved from 1.66 per cent to 1.81 per cent, with the country advancing … Read more
In a clear change of strategy, the foreign institutional investors (FIIs) have turned buyers, and the stage of relentless FII selling is now over with the Indian economy remaining resilient despite the geo-political conditions, market watchers said on Saturday. According to the National Securities Depository Limited (NSDL) data, FIIs invested Rs 24,453 crore this month … Read more
Education and Panchayati Raj Minister Madan Dilawar said on Saturday that the investment influx from the 'Rising Rajasthan Global Investment Summit will boost revenue and employment in the state. Speaking to the media in Jodhpur, he highlighted that the state has seen significant investment from the 'Rising Rajasthan' initiative. He emphasised that such large-scale investments … Read more
The Indian stock market, seen as the best performer in the emerging markets (EMs), crossed the 85,000 mark for the first time in September this year. Now, multinational investment bank and financial services company Morgan Stanley has forecast that the BSE Sensex may cross the historic 1 lakh level in this bullish scenario by the … Read more
The Indian startup ecosystem saw its cumulative funding reach $250 million across 18 deals this week, a significant 72 per cent increase. Domestic startups had raised more than $145 million last week, as investor confidence revived in the country when it came to VC funding. Global investment group Prosus disclosed it infused $100 million in … Read more