Days after tweaking FDI rules, India on Thursday said no country should be worried about the new regulations. China has strongly objected to the change in rules, which makes it mandatory for countries sharing land boundary with India to invest through the government route.
Read MoreSri Lanka to seek $400m financial facility from RBI
Sri Lanka is set to enter into an agreement with the Reserve Bank of India for a currency swap worth $400 million to boost the foreign reserves and ensure the financial stability of the country which is badly hit by the COVID-19 pandemic, a top minister has said. Cabinet approved the proposal, enabling RBI to […]
Read MoreRemittances to India may decline by 23%: World Bank
As a result of the deadly coronavirus pandemic, which has resulted in a global recession, remittances to India are likely to drop by 23 per cent from $83 billion last year to $64 billion this year, the World Bank has said. Globally remittances are projected to decline sharply by about 20 per cent this year […]
Read MoreFitch Ratings sees India growth slipping to 0.8% in FY21
Fitch Ratings on Thursday slashed India’s economic growth projections to 0.8 per cent in the current 2020-21 fiscal saying an unparalleled global recession was underway due to disruptions caused by the outbreak of coronavirus pandemic and resultant lockdowns.
Read More‘India stares at recession for 1st time in 40 yrs’
A report by Axis Bank has said that India would go into recession in FY21 – the first time in 40 years because of the lockdown to prevent the spread of Covid-19. The report has forecast that the gross domestic product will decline by 1.7% led mainly by a steep contraction in manufacturing, and trade […]
Read MoreIndia studying Trump’s exec order on immigration
India is studying President Donald Trump’s executive order temporarily halting immigration into the US for 60 days and its possible impact on Indians, government sources said on Thursday.
Read MoreRBI allows banks to issue e-cards for overdraft a/c
Relaxing norms, the Reserve Bank of India on Thursday permitted banks to issue electronic cards to persons having overdraft accounts that are only in the nature of personal loan without any specific end-use restrictions.
Read MoreCrude crash to ease some Covid-19 pain for India
Black Gold has fallen from grace. And How! US crude WTI sank into negative territory for the first time in history at -$37/barrel and Brent, the benchmark for two-thirds of the global oil trade, settled at 18-year low of $21.48 on Tuesday, sending traders and the global oil industry scurrying for cover.
Read MoreChanges in FDI rules don’t violate treaties: India
A day after China’s outburst over the change in foreign direct investment policy, India on Tuesday hit back at its neighbour, saying the amendment did not violate any global commitment as it did not bar investments from across the border but only mandated prior screening of proposals.
Read MoreS Korean firm makes Covid test kits in India
A South Korean firm has started production of the COVID-19 rapid antibody testing kits in its Indian subsidiary plant to meet the growing demand of the medical equipment in India and other parts of the world, a press release issued by the Indian embassy said on Tuesday.
Read MorePaytm cuts losses 20% as e-pays fall
Paytm has started curbing expenditure amid the pandemic to extend its runway. The e-payments major — India’s most valued startup at $16 billion — has been cutting costs at a rate of 15-20% in the last two months, founder and CEO Vijay Shekhar Sharma told TOI in an exclusive interview earlier this month.
Read MoreConfusion, questions as parts of India return to work
As parts of India stirred to life on Monday amid a conditional easing of the lockdown, confusion prevailed in Delhi and NCR on how to regulate the surge of people and traffic caused by absence of clarity on aspects such as who among the junior central government workforce would constitute one-third of the office turnout […]
Read MoreLockdown: How RBI can help revive economy
The Reserve Bank of India has a number of policy options to draw upon to cushion the economic blow from the coronavirus pandemic. With a limited fiscal response so far, the RBI has provided some virus relief to the economy but analysts say these areas need to be addressed further like rate cuts, deficit financing, […]
Read MoreIndia agrees to sell HCQ tablets to Malaysia to help fight Covid-19
India has agreed to sell hydroxychloroquine tablets to Malaysia for use in the treatment of Covid-19 patients, a Malaysian minister told Reuters on Wednesday, with New Delhi partially lifting its bar on exports of the anti-malarial drug.
Read MoreHARD Lyrics and Video Song – Emiway Bantai
20-30 inke gane release huye hongeItne mein bande crease24 saal ke umar mein main de raha sab ko shotKisi ki umar hai 30 plus..Kulfaa kar ke jao meraa jingle bellMerry Christmas 20-30 inke gane release huye hongeItne me bande crease24 saal ke umar mein main de raha sab ko shotKisi ki umar hai 30-plus..Kulfaa kar […]
Read More‘GDP projections by World Bank, IMF too optimistic’
Former chief economic adviser (CEA) Arvind Subramanian on Wednesday said the GDP (gross domestic product) numbers being projected by the World Bank and IMF (International Monetary Fund) for India are far “too optimistic” and the country would require additional expenditure of Rs 10 lakh crore to bring the coronavirus-hit economy back on track.
Read MoreOver 20 lakh jobs at risk in Indian aviation: IATA
More than 20 lakh jobs are at risk in India’s aviation space and dependent sectors in the wake of the coronavirus pandemic, according to global airlines’ grouping IATA. Commercial flight services have been suspended till May 3 as the government has extended the nation lockdown in continuing efforts to curb spreading of coronavirus infection, which […]
Read MoreIndia to grow 1.9%, global eco to shrink 3%: IMF
The latest IMF forecast puts India as one of the fastest growing major economies even in the midst of the Covid-19 devastation, although it will be the slowest pace of expansion since the 1991 balance of payments crisis. IMF said China is expected to grow by 1.2% in 2020-21 and rebound to 9.2% next year. […]
Read MoreThis IT services co hikes pay, grants allowances
French IT services firm Capgemini, which has 1.2 lakh of its over 2 lakh employees in India, has rolled out high single-digit hikes for 70% of its India staff, or 84K employees, effective April 1. The rest will get increments effective July. It is providing up to Rs 10K as cash allowance to those employees […]
Read MoreLockdown sends grey-market booze prices soaring
Alcohol prices in India’s grey market have more than quadrupled and online searches for how to make homemade alcohol have soared during India’s nationwide coronavirus lockdown, with bars and liquor stores shut for weeks across most parts of the country.
Read MoreIndia plans to fill strategic oil storage by May
India is moving the oil to the SPR to help the country’s refineries reduce their excess crude as the lockdown to contain the outbreak of COVID-19, the respiratory disease caused by the new coronavirus, has dented transportation and industrial fuel consumption in Asia’s third-largest economy.
Read MoreIndia to boost drug ingredient output to pare China
The government has aggressively begun implementing a policy to ramp up local output and emerge as an alternate to China, according to people familiar with the plan who asked not to be identified as discussions are not public yet.
Read MoreIMF projects India’s growth rate at 1.9% in 2020
The International Monetary Fund on Tuesday projected a GDP growth of 1.9% for India in 2020, as the global economy hits the worst recession since the 1930s due to the Covid-19 pandemic that has nearly stalled all economic activities across the world. With this subdued forecast, India is likely to record its worst growth performance […]
Read MoreEU airline sells tickets for repatriation flight, India cancels it
India has cancelled a repatriation flight that was supposed to be operated by a leading European airline to fly back foreigners home from here. This airline, chartered by its home country to operate a flight from Delhi to its western Europe hub, was found to be selling tickets for the same on its website and […]
Read MoreIndia tightens curb on import of refined palm oil
India on Monday tightened the curbs on import of refined palm oil by putting more conditions for the inbound shipments of the commodity. On Jan 8 the DGTF had imposed restrictions on imports of refined palm oil which made seeking a license for the imports mandatory. Now, the DGFT said “import of refined palm oil […]
Read MoreKirana supplying B2B companies see orders rise 60%
India’s business-to-business commerce startups like Udaan, Jumbotail, WayCool and Ninjacart — which supply groceries and vegetables to tens of thousands of kiranas — are seeing a 40 to 60% spike in demand. The development comes as India’s 12 million neighbourhood kiranas have proved to be a lifeline for general public amidst the lockdown.
Read MoreUK to receive 1st batch of paracetamol packets from India
The UK will receive a first batch of 3 million paracetamol packets from India by Sunday as it expressed gratitude to the Indian government for approving this “important shipment” after New Delhi lifted its export ban amid the coronavirus pandemic.
Read More15 million jobs likely to be lost in export sector
With cancellation of over 50% of orders and gloomy forecast for the future, India’s export sector may witness 15 million job losses and rise in non-performing assets (NPAs) among exporting units, said Federation of Indian Export Organisations (FIEO).
Read MoreIndustry readies plans for life after lockdown
A leading consumer durables company has begun sanitising its plant in north India for a possible opening-up after three weeks of lockdown due to the coronavirus pandemic. It is already drawing up a schedule to run the factory with fewer shifts so that the number of workers is lower and social distancing can be maintained.
Read MoreG-20 backs output cut deal as India, Saudi pitch for stable oil market
Energy ministers of G-20 countries on Friday backed the deepest-ever production cut deal to rebalance the global oil market, with India and Saudi Arabia – representing the high table of consuming and producing countries – calling for “stable, affordable, reliable and accessible” supplies to enable basic services in times of COVID-19 and assist in economic […]
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