Giri world

Goldman Sachs estimates India needs to create 10 million jobs annually to sustain 6.5% GVA growth. Key policy recommendations include incentivizing affordable social housing, diversifying IT hubs to smaller cities, and reallocating fiscal incentives towards labour-intensive manufacturing sectors to boost employment. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/EiQRCaU >

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Hindustan Unilever and other FMCG companies are increasingly focusing on tailoring products to cater to Indian consumer nuances. By leveraging technology and understanding varied local preferences, these firms are introducing region-specific blends and health-focused offerings to meet the evolving demands for premium, differentiated, and sustainable products in India. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/CURlEqp >

The Reserve Bank of India has transported another 102 tonnes of gold from the Bank of England to secure locations within the country, bringing the total to 510.5 tonnes held domestically out of 855 tonnes by the end of September. This move is part of efforts to secure holdings amid global geopolitical tensions, with further shipments possible. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/UEtSOap >

A forensic investigation by an independent firm has cleared Star Health Insurance's CISO of wrongdoing, stating that the alleged communication with a hacker was fabricated. The company's board committees reviewed the findings, confirming no links between the CISO and the data breach incident. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Ult7PN3 >

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Imports from China into India rose nearly 11% to $46.6 billion between April and August, driven primarily by computers, telecom equipment, and components, while exports dropped 8%. Electronics, machinery, and organic chemicals made up two-thirds of imports, widening the trade deficit to $40.8 billion. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/T5RQYUy >

Reliance's Campa Cola challenges beverage giants PepsiCo and Coca-Cola with its aggressive pricing strategy, offering 200 ml bottles at Rs 10. To counter this, Coca-Cola and PepsiCo are employing tactics such as better retailer margins and potential lower-priced packs, particularly in markets like Kerala and West Bengal. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/yuGM7wz >

Foreign fund trading activities and quarterly earnings from major companies are expected to drive the market. Investors will assess crude oil prices due to West Asian geopolitical tensions and the rupee's performance. Waaree Energies' listing also plays a crucial role, amid US election uncertainty and significant OCT market losses. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Y047hZj >

Facing a significant industry slowdown, car manufacturers like Maruti Suzuki, Honda, Mahindra, and luxury brands such as Audi and BMW are offering deep discounts, sometimes up to Rs 12 lakh, across various models from entry-level to high-end luxury. Analysts predict even deeper discounts post-Diwali to clear excess inventories. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/KpQMUl8 >

Finance minister Nirmala Sitharaman emphasizes the need for sovereign ratings to properly reflect the economic realities of emerging markets to lower their capital costs. She calls for credit rating agencies to improve their methodologies and highlights the importance of IMF governance reforms amidst global economic challenges. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/TKvf6bq >

RBI governor Shaktikanta Das anticipates inflation will moderate after October, despite recent highs. Speaking at an IMF-World Bank event, Das emphasized efforts to align inflation with the 4% target and highlighted economic strength. He also warned of cryptocurrency risks and stressed international consensus on regulation. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/X28DBM5 >

CBDT extended the Income Tax Return deadline for the assessment year 2024-25 for corporates to November 15, 2024, addressing difficulties in electronic audit report submissions. This move aims to provide more time for compliance and reduce pressure. Additionally, a committee reviews the Income Tax Act, 1961, to simplify the law and reduce disputes. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/XnbiSqd >

On Friday, the Sensex and Nifty fell nearly 1% each due to poor quarterly earnings and substantial foreign fund selling, with the Sensex dropping 663 points to 79,402. BSE’s market capitalization fell by over Rs 7 lakh crore. Foreign portfolio investors recorded a net outflow of nearly Rs 90,000 crore in October, while domestic funds provided some support. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/D485bWl >

Nvidia's AI summit in Mumbai saw CEO Jensen Huang praise India's tech capabilities while Reliance chairman Mukesh Ambani announced an AI infrastructure partnership. Indian companies like TCS, Tata Communications, and Infosys launched new AI initiatives, as Huang highlighted India's key role in language model innovation. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/YJgsq4C >

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Finance Minister Nirmala Sitharaman emphasized maintaining stringent checks on FDI in the national interest, citing regional sensitivities, despite industry pressure. The focus is on ensuring the source of investment is secure. India aims to reach $100 billion annually in FDI, with reforms spanning central to local governance. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/FkK82S5 >

The Indian government has decided to remove the export duty on parboiled rice and the Minimum Export Price on non-basmati white rice, allowing Indian farmers to compete more effectively in the international market. These measures come amid a bumper paddy crop and significant buffer stock levels. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ciRzCy3 >

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ICICI Prudential Life Insurance witnessed a 3% increase in net profit for the September quarter, reaching Rs 252 crore. Total income, net premium earned, and assets under management also saw significant growth. The solvency ratio stood at 188.6%. The firm plans to raise up to Rs 1,400 crore via Non-Convertible Debentures over the next year. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/BL9dqc5 >

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RBI notes a temporary slowdown in India's economy due to heavy rains and 'pitru paksha'. However, it remains optimistic about a recovery driven by festival season consumption and increased private investment. Rural demand is anticipated to rise with an optimistic agricultural outlook, while India's external sector shows resilience despite geopolitical issues. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/5fIVPZH >

Brands in India are targeting the country's 377 million Gen Zs, who currently drive $860 billion in consumer spending. By 2030, it's projected that 36% will join the workforce, increasing their direct spends to $730 billion. Companies like BoAt, Amazon, and Flipkart are adapting their strategies to meet Gen Z's preferences for personalization and affordability. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/0uYjpXt >

Prime Minister Narendra Modi inaugurated new airports in Madhya Pradesh, Chhattisgarh, and Uttar Pradesh under the UDAN scheme. These airports aim to boost regional connectivity and economic growth. The scheme, supported by tax and customs incentives, is projected to drive significant demand in Indian aviation, with over 2,200 aircraft needed by 2042. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/jVzFxRC >

A group of state finance ministers is leaning towards exempting GST on term insurance plans and health insurance for seniors. They are also considering raising GST on luxury items like expensive watches and shoes to 28%, while reducing it for common-use goods like notebooks and bicycles. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Pt2Kjqc >

ICAO has increased compensation limits for international flight issues under the Montreal Convention, effective Dec 28. The new upper limit for death compensation rises from Rs 1.4 crore to Rs 1.7 crore. This affects 140 countries, including India. The revision adjusts for inflation and requires legal provisions by December's end. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/MPWpAGF >

The Group of Ministers (GoM) decides to recommend waiving GST on health and term life insurance premiums for senior citizens, with a focus on providing financial relief. The GST Council will finalize the decision, but premiums over Rs 5 lakh for non-senior citizens will still attract 18% GST. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/o3xLOzS >

Kotak Mahindra Bank reported a 5% increase in standalone profit for Q2 ended September 2024, with a total profit of Rs 3,344 crore. The bank's total income rose to Rs 15,900 crore, with NII growing by 11%, while gross NPAs reduced to 1.49%. Consolidated net profit grew by 13% to Rs 5,044 crore. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Xu5aTqL >

HDFC Bank Ltd., India's largest private sector lender, recorded a 5% increase in net profit for the quarter ending September 30, 2021, reaching Rs 16,821 crore. Net interest income grew by 10% to Rs 30,114 crore. However, the bank's asset quality slightly deteriorated with gross NPA rising to 1.36%. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/i12Nbgd >

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The number of taxpayers in India increased by 82% from 2014-15 to 2023-24, and direct tax receipts surged 182%, largely due to better compliance and the use of technology. Personal income tax collections rose significantly, surpassing corporate tax collections for the second consecutive year. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/s1G5gJO >

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At the India Mobile Congress, Jio's Akash Ambani and Airtel's Sunil Mittal raised concerns about foreign companies gaining easier market access. Ambani emphasized the need for local data storage, while Mittal argued that international satellite players like Starlink should buy spectrum through auctions like domestic firms. This highlights the brewing competition between local telecoms and global giants. from Business News: Latest News Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/yVg7NMJ >

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Nearly a third of positions at the National Company Law Tribunal remain unfilled, impacting the government's insolvency reform initiative. This shortage has led to operational inefficiencies, delaying insolvency resolutions significantly. The average resolution time has surged to 716 days, far exceeding the 270-day deadline, posing challenges for corporate insolvency processes. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/iB6CLkE >

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Reliance Jio has urged telecom minister Jyotiraditya Scindia to have regulator Trai revise a consultation paper on spectrum allocation rules, emphasizing fair competition between terrestrial and satellite networks. Jio warns of potential legal battles if level-playing field considerations are not incorporated. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/6wiBHzG >

Reliance Jio has requested Telecom Minister Jyotiraditya Scindia's help to revise TRAI's consultation paper on spectrum allocation to ensure fair competition between terrestrial and satellite communication providers. Jio emphasized the need for a fair and transparent auction system, arguing that the current consultation overlooks critical issues of market parity and legal implications. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/1YbTVC2 >

State Bank of India (SBI) is set to enhance the instant loan scheme threshold for MSMEs beyond the current Rs 5 crore, streamlining the process with tech for quick approvals. Plans include network expansion with 600 new branches, aiming to include more MSMEs in formal credit systems. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/gU6uQJy >

Hyundai Motor India Ltd plans to export its upcoming electric vehicles to similar emerging markets, such as Africa and Latin America, aiming to strengthen its position as a production hub. The company also focuses on localizing production elements, including battery packs and drivetrain power electronics, to offer competitively priced EVs. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/JPoE7ZU >

India's foreign exchange reserves fell by $3.7 billion to $701.2 billion in the week ended Oct 4, marking the first decline in eight weeks. The drop includes a $3.5 billion decrease in foreign currency and a $40 million reduction in gold value. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/tQfBz3C >

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The average monthly income of rural households in India increased by nearly 58% over five years, reaching Rs 12,698 in 2021-22. Salaried employment remained the largest income source, notably for non-agricultural households. Additionally, rural household expenditure rose significantly, while financial savings also showed considerable improvement. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/lG28msF >

TD Bank, the largest bank to date to admit to US Bank Secrecy Act violations, pleads guilty to money laundering-related charges and agrees to $3 billion in penalties. The Justice Department cites pervasive compliance failures over a decade. An asset cap limits TD's US operations, and CEO Bharat Masrani plans to retire, taking responsibility for the issues. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ZK9cEWh >

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In 1991, Ratan Tata took over as the chairman of the Tata Group from his uncle, JRD, who had been in charge for more than half a century. Ratan Naval Tata, a titan of industry, passed away at the age of 86. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/sXkbN72 >

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Finance Minister Nirmala Sitharaman stressed the importance of examining facts before criticizing Sebi chief Madhabi Puri Buch following allegations by Hindenburg Research. She emphasized the transparency brought by Indian regulators and called for a review of consumer and wholesale price indices, while warning against unsustainable freebie giveaways by state governments. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/FDEdcfw >

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Close to 50 companies, including major players like TCS, Tech Mahindra, and L&T, have offered over 13,000 internships through the PM Internship scheme portal. Around 200 companies have registered so far, aiming to bridge the skills gap by targeting over 1.2 lakh internships this financial year. Opportunities span various sectors, and internships are focused on unemployed youth aged 21-24. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/b14uAZE >

The government-formed committee is seeking public suggestions to simplify the 63-year-old Income Tax Act by focusing on language clarity, reducing litigation, easing compliance, and identifying obsolete provisions. Feedback will help shape the committee's recommendations, possibly influencing the upcoming budget. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/MyYXUkS >

Indian farmers receive only about one-third of the final selling price of fruits and vegetables, with intermediaries taking the majority share, in contrast to sectors like dairy where farmers get 70%. Research by RBI suggests policymakers improve productivity, expand storage, and leverage digital platforms to stabilize prices and increase farmers' earnings. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/Gj7rEU0 >

The commerce department is planning a long-term solution for exporters' credit issues by considering a credit guarantee fund. This fund will help businesses access finance without needing collaterals. Exporters are currently struggling with declining export credit and high costs. Consulting firm EY is involved in assessing various options for improvement. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/emB6yPL >

Amul has successfully launched its milk in the US and is set to enter the European market. India, now the largest milk producer, is poised to supply one-third of the world's milk. The cooperative model from India, exemplified by Dr. Verghese Kurien, is highlighted as a significant contribution. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/prXsbuV >

Investor sentiments this week will be swayed by the RBI’s interest rate decision, Middle East tensions, foreign investor activity, and crucial quarterly earnings from TCS. Domestic macroeconomic data, global oil trends, and geopolitical developments will also significantly influence market trends. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/uk1dQEN >

Sanjeev Sanyal has been offered the post of chancellor of Gokhale Institute of Politics and Economics following Bibek Debroy's resignation citing moral grounds. The Servants of India Society, which manages the institute, awaits Sanyal's acceptance. Debroy's resignation stemmed from a legal dispute over the dismissal of Vice-Chancellor Ajit Ranade. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/FnZViGy >

The Economic Offences Wing of Delhi Police has filed an FIR against SpiceJet's managing director and officials. They allegedly did not credit Rs 65 crore of employees' Provident Fund shares. SpiceJet stated it has since cleared dues and made progress by depositing ten months of PF dues. The investigation is ongoing. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ixEpgCY >

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Shoppers favored mobile phones and electronics in the initial week of online festive sales, with platforms like Amazon and Flipkart achieving over Rs 54,500 crore in sales, a 26% increase year-on-year. High-end smartphones, including iPhone 15 and Samsung's Galaxy S23 FE, were popular. Premium consumer durables also saw significant demand, especially via EMI purchases in smaller cities. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/3mcdtrP >

Makhtar Diop, managing director of IFC, plans to expand India's focus to include blue bonds for water and support municipalities in raising funds. He highlights the strong growth in India's IFC portfolio and aims to continue annual investments of $4-5 billion while addressing job creation, energy transition, and financial sector improvements. from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/J5yuLH8 >