Tag Archives: Business news

NEW DELHI: Foreign portfolio investors (FPIs) maintained their selling streak in February, pulling out Rs 34,574 crore from Indian equities, as per data from the National Securities Depository Limited (NSDL).The sell-off was particularly strong in the final week of the month, with FPIs offloading Rs 10,905 crore worth of shares between February 24 and February 28. However, on the last …

NEW DELHI: Spending on Artificial Intelligence (AI) technologies will grow at 2.2x the rate of overall digital technology spending in the next three years, generating an India economic impact of over USD 115 billion by the end of 2027, according to a latest report by International Data Corporation (IDC).IDC further predicts that by 2027, company executives would expect their GenAI …

NEW DELHI: India’s economy is expected to see a boost in Q4FY25, supported by a sustained increase in government spending and capital expenditure (Capex), alongside a pickup in consumption driven by the Maha-Kumbh and wedding season, according to a report by Union Bank of India.The report added that the Reserve Bank of India (RBI) has continued to support growth with …

NEW DELHI: Goods and services tax collections rose 9.1% to Rs 183,646 crore during February on the back of double-digit rise in the mop up from domestic sources. On a gross basis, GST from domestic sources, which refers to transactions within the country, rose 10.2% to Rs 1,41,945 crore, while those related to imports were up 5.4%, indicating that the …

NEW DELHI: The Enforcement Directorate (ED) has issued a show-cause notice to One97 Communications, the parent company of Paytm, over alleged violations of the Foreign Exchange Management Act (Fema) in transactions amounting to Rs 611 crore.The notice, dated Feb 27, cited alleged contraventions between 2015 and 2019 related to Paytm’s acquisition of two subsidiaries, Little Internet and Nearbuy India. The …

NEW DELHI: India can turn the potential threat of reciprocal tariffs from the US into its favour if it can use the situation to negotiate mutual tariff reductions, said the chairman of the 16th finance commission Arvind Panagariya on Saturday.“We have a very good opportunity to do a win-win bargain. So we can really turn it into a win-win situation. …

Byju’s founder and CEO, Byju Raveendran, reiterated his claims of collusion in the company’s insolvency proceedings, stating that new evidence submitted to court proves that EY India acted on behalf of GLAS Trust in what he calls a “massive fraud.” In an exclusive interview with TOI, Raveendran said the whistleblower documents circulating online contain the same evidence he referenced in …

NEW DELHI: Growth in the country’s crucial core sector held steady in Jan with expansion in cement and refinery products output but eased slightly from December.Data released by the commerce and industry ministry on Friday-showed the eight core sector spanning coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity rose 4.6% in Jan, marginally lower than the …

New Delhi: India’s economic growth in the three months to Dec rebounded on the back of arecovery in govt and consumer spending, exports and a robust farm sector, while services remained steady.Data released by National Statistical Office on Friday showed GDP grew by 6.2% in the Oct-Dec quarter of the current fiscal year, rising from the upwardly revised 5.6% in …

J Michael Prince, president & CEO at USPA Global Apparel maker US Polo Assn is betting on India to become its largest global market. Amid growing competition from a mix of fashion forward global and local direct-to-consumer brands, the company has been able to tap into the rising casualisation trend in India.Young people do not mind teaming up a casual …