India tops list of recipient countries for remittances with $129 bn inflow in 2024

India tops the list of recipient countries for remittances in 2024 with an estimated inflow of $129 billion, followed by Mexico ($68 billion), China ($48 billion), the Philippines ($40 billion), and Pakistan ($33 billion), according to the latest figures compiled by World Bank economists.  The growth rate of remittances this year is estimated to be … Read more

Rupee weakens against US dollar on Thursday

Indian rupee weakened to an all-time low of 85.0750 against the US dollar on Thursday, tracking gains in American currency overseas after US Fed chair Jerome Powell-led rate-setting panel cut key interest rates by 25 bps and flagged a slower pace of interest rate cuts next year. Moreover, dollar demand from importers, foreign fund outflows … Read more

Indian pharma sector 3rd largest globally, valued at $50 bn in FY 2023-24: Centre

India’s pharma industry is considered to be the world's third largest by volume, and in FY 2023-24 the pharmaceutical market has been valued at $50 billion, said Union Minister of State for Chemicals and Fertilizers Anupriya Patel.  In a written reply to Rajya Sabha Patel said that in FY 2023-24, the pharmaceutical market’s domestic consumption … Read more

Startups have potential to contribute $120 billion to India`s GDP by 2030

Startups will be a core driver of India’s economic growth this ‘Techade,’ likely to contribute nearly $120 billion (or 1.6 per cent) to the country’s GDP by 2030, which will be nearly 3.5 times jump from $35 billion in 2023, according to a new report.  Given that most developed economies see between 5-10 per cent … Read more

`Hum Karke Dikhate Hain`: Gautam Adani on building green, brighter future for millions

The Adani Group Chairman, Gautam Adani, on Thursday said that the company makes promises which are not only about building infrastructure but also creating hope, progress and a brighter tomorrow for millions of Indians.  Reacting to a unique and out-of-the-box advertisement on wind turbines and renewable energy by the Adani Group that took the internet … Read more