From just 50 biotech startups in 2014 in India, the ecosystem has grown to nearly 9,000 in the last decade, said Union Minister Jitendra Singh. At an event held in the national capital, Singh attributed the increase to the remarkable growth in bio-economy in the last 10 years — from $10 billion in 2014 … Read more
India's non-banking finance company Shriram Finance has consolidated its green finance business under Shriram Green Finance, it said on Friday, and targeted assets under management (AUM) of 50 billion rupees ($588 million) over the next three to four years under the portfolio. The green finance vertical will be built through financing electric vehicles (EV), including … Read more
India's foreign exchange reserves fell by nearly $2 billion to an almost six-month low of $652.87 billion as of Dec. 13, data from the Reserve Bank of India (RBI) showed on Friday. The reserves had declined by $3.2 billion in the week of Dec. 6, and have declined by $52 billion from the record high … Read more
High prices are the cause for demand slowdown in India, and aligning inflation to the central bank's 4% target is key to ensuring sustained economic growth, members of the rate-setting panel said in the minutes of the December meeting. "The policy priority at this critical juncture has to be on restoring the inflation growth balance," … Read more
India's Bharat Petroleum Corp Ltd has bought its first crude oil cargo from Argentina, two trade sources said on Friday, part of the company's effort to diversify the grades processed at its refineries. The state-run refiner has purchased the 1-million-barrel cargo of Medanito crude for February delivery from European trader Mercuria, the sources said. The … Read more
India's finished steel imports from China reached an all-time high during the first eight months of the fiscal year to March 2025, provisional government data showed, adding to concerns among domestic mills about cheap shipments from China. Total imports of finished steel were at an eight-year high with India, the world's second-biggest crude steel producer, … Read more
As the 55th meeting of the GST Council was set to begin in Jaisalmer on Saturday, chaired by Union Finance Minister Nirmala Sitharaman, the proposed rate cut on health insurance premiums and the inclusion of Aviation Turbine Fuel (ATF) under the GST ambit would be among the key focus areas. The GST Council is also … Read more
Union Finance Minister Nirmala Sitharaman has arrived in Jaisalmer for the 55th GST Council meeting scheduled to be held on Saturday at Marriott Hotel. Chief Ministers, Deputy Chief Ministers, and Finance Ministers from various states, along with Finance Secretaries and senior officials, also reached Jaisalmer on Friday. The dignitaries were welcomed at Hotel Marriott amidst … Read more
The Indian government and the Asian Development Bank (ADB) on Friday signed an agreement for a $350 million policy-based loan under the second subprogramme of the Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) programme, to strengthen the domestic manufacturing sector and improve the resilience of supply chains. According to the Ministry of Commerce and Industry, … Read more
As many as 25,202 public charging stations for electric vehicles (EVs) have been installed in the country to date, the government said on Friday. Karnataka leads with 5,765 EV public charging stations, followed by Maharashtra at 3,728 and Uttar Pradesh at 1,989, Minister of State for Heavy Industries and Steel, Bhupathiraju Srinivasa Varma, told the … Read more
