Despite sour relations with China over aggressions at the border, India’s trade relations with the county continues on an upwards trend. India has a trade deficit with China for a long time now, which means India imports far from China compared to exports across the Himalayas. According to reports, India-China trade grew to a record $125 … Read more
India’s dedication to democratic processes is demonstrated by its efforts to ensure that every individual gets an opportunity to exercise his/her right to vote. This includes setting up polling booths in some of the most distant and inaccessible areas of the country. From high-altitude Himalayan settlements to deep forests inhabited by indigenous tribes, these polling booths demonstrate … Read more
India’s gross domestic product (GDP) growth is estimated to be 8.3 percent this fiscal year and 8.7 percent in 2022-23, according to the latest Global Economic Prospects report by World Bank. The upgrade in growth prediction reflects increased private sector and infrastructure investment, as well as rewards from advancing reforms. This estimate for 2021-22 is identical to the … Read more
Recently Elon Musk, in a tweet let it be known that Tesla’s India business is “still working through a lot of challenges with the government”. While he did not appear to directly blame the government, the subtext was clear. The government has been smart and has seen through the self-serving game. As Business Today reports, it will not bow to … Read more
In the financial year 2022-23, Apple and Samsung are set to manufacture smartphones worth over $5 billion (almost Rs 37,000 crore) in India. The two behemoths are on track to outperform the government’s PLI Scheme objectives by more than 50%. IANS spoke with Pankaj Mohindroo, Chairman of the India Cellular and Electronics Association (ICEA). “The leading global … Read more
Ahead of the annual Budget presentation on February 01, The Ministry of Finance and Corporate Affairs tabled the Economic Survey for the current financial year 2021-2022 on Monday. Principal Economic Advisor Sanjeev Sanyal while suggesting a revival in economic activities to pre-pandemic levels stated that the economy grew by 9.2% this year after suffering a … Read more
After Finance Minister Nirmala Sitharaman announced that RBI will launch a digital Rupee in her budget speech yesterday, Finance Secretary TV Somanathan has confirmed that India’s digital currency will be backed by the Reserve Bank of India which will be the only legal digital currency in the country. In a post-budget briefing in Delhi on Wednesday, the North Block … Read more
In one of the biggest bank fraud case registered by the Central Bureau of Investigation (CBI), the agency has charged ABG Shipyard Ltd, its then Chairman and Managing Director Rishi Kamlesh Agarwal, and others with defrauding a consortium of banks led by ICICI bank of over Rs 22,842 crore. CBI also named the former Executive Director Santhanam Muthaswamy, Directors … Read more
Unity Small Finance Bank paid approximately Rs 3,800 crore to depositors of the scam-hit Punjab and Maharashtra Co-operative Bank (PMC Bank) on Thursday, 31st March, after the Deposit Insurance and Credit Guarantee Corporation (DICGC) certified approximately 850,000 such valid accounts earlier in the day. Abhinav Khare, the CEO of Asianet and also BharatPe co-founder and CEO took … Read more
India and Australia signed an economic cooperation and trade agreement on Saturday to ensure barrier free trade in several commodities between the two countries. The agreement was signed by Commerce and Industry Minister Piyush Goyal and Australian Minister for Trade, Tourism and Investment Dan Tehan in a virtual ceremony, in the presence of PM Narendra Modi and Australian PM … Read more