Government-owned National Mineral Development Corporation (NMDC), India's largest iron ore producer, has registered its best-ever October performance since inception with a record production of 4.07 million tonnes (MT) and sales of 4.03 MT, according to a statement issued by the Steel Ministry on Saturday. While NDMC's production of iron ore has gone up by 3.8 … Read more
In a perfect example of growing rural consumption, Amazon India on Saturday said it witnessed highest-ever 140 crore customer visits during its month-long festive sales, with more than 85 per cent of them coming from non-metro cities. Almost 70 per cent of participating sellers hailed from tier 2 and beyond cities, and the e-commerce giant … Read more
Defence Minister Rajnath Singh on Saturday said that India's Aatmanirbhar drive was "yielding the desired results" and the country was poised to reach Rs 50,000 crore in defence exports by 2029-30. Addressing the 65th Foundation Day celebrations at the Indian Institute of Technology (IIT), Kanpur, the Defence Minister called upon Indian youth to indigenously develop … Read more
The Indian startup ecosystem has reached $12.2 billion in funding in the first 10 months this year, crossing the total amount raised throughout 2023 (about $11 billion), with two months to go. Homegrown startups surpassed $1 billion in funding again across 119 deals in the month of October. September saw the second-highest funding with $1.63 … Read more
India remains the world’s fastest-growing economy with investment and private consumption driving growth, according to the IMF’s latest Regional Economic Outlook for Asia-Pacific. The IMF, in its World Economic Outlook report released on October 2, had retained India’s gross domestic product (GDP) growth forecasts at a robust 7 per cent and 6.5 per cent for … Read more
India's power consumption increased to 140.47 billion units (BU) in October, which is a one per cent increase over the high base of the same month last year during which an over 22 per cent jump was recorded, according to the latest official data. Power consumption had shot up to 139.44 BU in October … Read more
The foreign institutional investors (FIIs) sold a whopping Rs 113,858 crore worth equity in the Indian stock market in the month of October, contributing hugely to the about 8 per cent decline in benchmark indices from the peak. Despite the massive FII selling in financials, this sector is resilient since the valuations are fair and … Read more
The dollar rose against the euro and rebounded against most major currencies on Friday after traders digested data showing U.S. job growth slowed sharply in October amid disruptions from hurricanes and strike action by aerospace factory workers. Nonfarm payrolls rose by 12,000 jobs after a downwardly revised 223,000 in September, the Labor Department's Bureau of … Read more
Oil prices edged up on Friday on reports Iran was preparing a retaliatory strike on Israel from Iraq in coming days, but record U.S. output weighed on prices. Brent futures were up 29 cents, or 0.4%, to settle at $73.10 a barrel. U.S. West Texas Intermediate (WTI) crude gained 23 cents, or 0.3%, to settle … Read more
The goods and services tax (GST) collections stood at Rs 1.87 lakh crore in October, an 8.9 per cent rise from Rs 1.72 lakh crore in GST revenue in the same month last year, government data showed on Friday. It is the eighth consecutive month when GST collections stayed above the Rs 1.7 lakh … Read more