Union Textiles Minister Giriraj Singh on Saturday said that technical textiles will become the economic backbone of India, adding that women can contribute a great deal in handloom and handicrafts sector. Inaugurating the textile pavilion at India International Trade Fair (IITF) in the national capital, the minister emphasised the importance of carbon fibres in the … Read more
The Indian startup ecosystem raised more than $182 million in funding this week, a substantial gain from last week’s $138 million funding. At least 24 Indian startups secured nearly $182.62 million, led by three growth-stage deals and 19 early-stage deals. Rural household-focused platform SarvaGram raised Rs 565 crore (around $67 million) in Series D equity … Read more
After their heavy selling so far, it is expected that the foreign institutional investors (FIIs), will reduce their selling near the end of the calendar year and fresh allocations or significant investments are likely to occur once there is greater clarity regarding the US' incoming Donald Trump administration's policies, market experts said on Saturday. … Read more
In a bid to help taxpayers, the government on Saturday launched a compliance-cum-awareness campaign for the assessment year (AY) 2024-25. The campaign by the Central Board of Direct Taxes (CBDT) will assist taxpayers in accurately completing Schedule Foreign Assets (Schedule FA) and reporting income from foreign sources (Schedule FSI) in their income tax returns (ITR). … Read more
The prime office rents in Delhi-NCR, Mumbai and Bengaluru remained stable in the July-September period, while Mumbai and Bengaluru saw year-over-year (YoY) increases of 5 per cent and 3 per cent, respectively, driven by strong occupier demand and limited new supply, according to a report on Saturday. Prime office rentals in Delhi-NCR, Mumbai, and Bengaluru … Read more
The lithium-ion battery demand in India is set to grow exponentially to 54 gigawatt hour (GWh) by FY27 and 127 GWh by FY30, as the country sets an ambitious target to meet 50 per cent of its primary energy requirement from renewable energy by 2030. Currently, domestic lithium-ion battery storage demand of 15 GWh is … Read more
Union Minister of New and Renewable Energy Pralhad Joshi on Friday said that the Centre is planning to develop Odisha as a major hub for renewable energy and explore the scope of green hydrogen production in the state. The Union Minister spoke thus while addressing the valedictory session of the two-day Chintan Shivir organised by … Read more
The domestic market remains in correction terrain and from the recent peak, the main indices, Nifty and Sensex, have corrected around 10 per cent, according to trade experts. This week, after showing sharp weakness on Tuesday and Wednesday, Nifty continued its decline amid range movement on Thursday and closed the day lower by 26 points. … Read more
India's foreign exchange reserves dropped for a sixth consecutive week to a near 3-month low of $675.65 billion as of Nov. 8, data from the Reserve Bank of India (RBI) showed on Friday. The reserves fell by $6.5 billion in the reporting week and are down $29.2 billion from the record-high of $704.89 billion hit … Read more
The 27th edition of Bengaluru Tech Summit (BTS) 2024, organised by Karnataka's Electronics, IT, and Biotechnology Department, is set to take place from November 19-21 at Bengaluru Palace here. The BTS 2024 will host more than 2,500 startup attendees, said an official statement by the Karnataka IT and Biotechnology Department. This year, the central … Read more