Mumbai: The future rate decisions of the central bank's Monetary Policy Committee could go either way, depending on the inflation outlook and economic growth, said governor Sanjay Malhotra, citing the regulator's "neutral" policy stance. Lower inflation and a slowdown in growth can both be equally important catalysts for potential rate cuts, the Reserve Bank of India governor said in an interview with CNBC TV18 on Tuesday. RBI cut the benchmark repo rate by 25 basis points each in February and...Read More
New Delhi, Jul 15 (PTI) India's Global Capability Centres (GCCs) saw a rise in hiring volumes by 8-10 per cent in the first quarter of FY26, compared to a subdued fourth quarter of FY25, which saw a decline of 3-6 per cent, reflecting a return to strategic, skill-focused recruitment practices. The sector is deliberately moving away from volume hiring, focusing instead on securing high-value talent in AI, platform engineering, and cybersecurity, exacerbating critical skill shortages across the c...Read More
Mumbai/New Delhi: After sparking outrage in India for showcasing Kolhapuri-style "sandals" on the Milan runway, Italian luxury giant Prada is sending top executives to the footwear's hometown of Kolhapur. The two-day visit to Kolhapur, in Maharashtra, is expected to begin Tuesday and marks the brand's first formal outreach to Indian artisans. Mint has learned that the visiting team includes Daniele Contu, pattern making manager at Prada's footwear division, along with external consultants Andre...Read More
Dantewada (Chhattisgarh) [India] July 15 (ANI): The tribal-dominated Dantewada district is all set to make its footprint visible in the high-octane sport of Thai Kick Boxing, as young athletes here have clinched medals in international as well as national events. With the support of the Chhattisgarh Government, the youth of Dantewada are sharpening their skills and preparing for Thai Kick Boxing events to be held in the country and overseas. As Dantewada moves on the path to becoming a hub for ...Read More
New Delhi: India's merchandise trade deficit narrowed to $18.78 billion in June from $21.88 billion in May amid a shift in export and import activity, provisional data released by the Ministry of Commerce and Industry showed on Tuesday. Merchandise exports fell to $35.14 billion in June, compared with $38.73 billion in the previous month. Imports declined to $53.92 billion, down from $60.61 billion in May. In absolute terms, India had exported $35.20 billion worth of goods in June 2024, while ...Read More
Mumbai (Maharashtra) [India], July 15 (ANI): Actor Siddhant Chaturvedi, who will soon be seen opposite Triptii Dimri in 'Dhadak 2,' has shared that he always tries to take on new and different roles in every film he does. In a recent interview with ANI, Siddhant opened up about the choices he makes as an actor and how he doesn't want to limit himself to just one kind of role. "I always work on playing a different character every time. We enjoy it as actors. It's not like if people like you in ...Read More
NEW DELHI: Four people died in Himachal Pradesh as rain continues to wreak havoc in the state, while five were swept away in Rajasthan's Kota at a barrage after a heavy downpour caused the authorities to release water from a reservoir. In Himachal, more than 200 roads are out of bounds for vehicular traffic, a majority of them in Mandi, while a flash flood warning has been issued for 12 districts in Jharkhand. An individual each drowned in Kullu and Kangra districts, one died after being bitte...Read More
New Delhi: Finance minister Nirmala Sitharaman on Monday said that the industry and the government need to explore ways to increase the setup rate of GCCs (global capability centres) in India and make the country more attractive for the remaining Fortune 500 companies that are yet to open their GCCs here. Speaking at the GCC Business Summit organized by the Confederation of Indian Industry (CII), the finance minister said that there was a need for institutionalizing governing mechanism for GCCs...Read More
New Delhi: Cooling prices offered a double dose of relief in June, with both retail and wholesale inflation easing sharply, signalling a broad-based tempering of cost pressures across the economy. Retail price inflation measured by the Consumer Price Index (CPI) came in at 2.1% in June, its slowest pace since January 2019, while wholesale price index-based inflation fell to a 21-month low in June, at -0.13%, marking the first negative reading since October 2023, according to provisional governm...Read More
New Delhi: State-run GAIL (India) Ltd has signed a long-term LNG sales and purchase agreement with Vitol Asia Pte. Ltd for the annual supply of approximately 1 million metric tonnes per annum (MMTPA) of liquefied natural gas over a 10-year period, starting in 2026. Under the agreement, Vitol will deliver LNG to GAIL from its global portfolio, the company said in a statement. "GAIL is expanding its long-term LNG portfolio to meet demand growth. We are pleased to partner with Vitol Asia Pte. Ltd...Read More
New Delhi: The India-UK free trade agreement will feature a dedicated chapter on innovation, commerce secretary Sunil Barthwal said on Monday, marking a shift in India's trade strategy towards deeper technological and research partnerships. The pact is in its final stages, with both sides subjecting the chapters to legal scrutiny. "This is for the first time that a chapter on innovation is being added in an FTA. A working group will be set up to advance cooperation in this area," Barthwal said...Read More
New Delhi: The Trump administration's tariff policies have opened up opportunities for India to gain market share in several product categories, but the Asian nation must act swiftly to capitalize on this advantage, NITI Aayog said in a quarterly assessment released Monday. In its Trade Watch report, the government's policy think tank said India should implement targeted export promotion measures, deepen its integration into global value chains, and pursue a services-focused trade deal with the...Read More
New Delhi: India's Global Capability Centres (GCCs) have flourished on the back of robust infrastructure, business-friendly reforms and a deep talent pool but sustaining this momentum will require more work, Department of Economic Affairs (DEA) secretary Anuradha Thakur said on Monday. A targeted policy push, deeper Centre-state coordination and curriculum upgrades were among tasks lying ahead. Speaking at the CII (Confederation of Indian Industry) GCC's Business Summit, Thakur said the core d...Read More
New Delhi: The government will ensure every part of the North-eastern region gets legislative and policy support to achieve their development vision, which will contribute to India's goal of becoming a developed economy by 2047, finance minister Nirmala Sitharaman has said. Sitharaman said at a function in Meghalaya that every village has to contribute to achieving Meghalaya chief minister Conrad Sangma's ambition to take the state economy to $30 billion by 2030, showed an official social media...Read More
Telangana: Congress MLC Chintapandu Naveen alias Teenmar Mallanna - his office was reportedly vandalised by Telangana Jagruthi workers following his remarks against Kavitha, the daughter of former Telangana chief minister and BRS supremo K Chandrashekar Rao. A Member of the legislative Council (MLC), Naveen Kumar is popularly known by his screen name Teenmaar Mallanna. Visuals of the vandalised office premises showed chairs broken, and other furniture all strewn over the floor. Supporters of ...Read More
New Delhi, Jul 13 (PTI) India's biggest real estate firm DLF's Chairman Rajiv Singh's remuneration rose 34 per cent annually to ₹36.65 crore in the last fiscal, following better performance of the company, according to its latest annual report. As per the list of remuneration paid/payable to directors/KMPs (key managerial personnel) during 2024-25, the DLF's Chairman and whole-time director has received ₹36.65 crore as remuneration for the last fiscal against ₹27.30 crore in the preceding finan...Read More
Delhi news: An official said they received a call around 12:17 am that a fire broke out in the Hotel Radisson Blu. A fire erupted at Dwarka's Radisson Blu Hotel in Delhi in the early hours of Sunday. The blaze was reported in the sauna room on the second floor of the hotel, officials said. They added that no casualties have been reported. "We received a call around 12:17 am that a fire broke out in the Hotel Radisson Blu. When we came here, a fire was observed in the sauna room on the second ...Read More
Mumbai, Jul 12 (PTI) The Air India aircraft, which crashed soon after takeoff in Ahmedabad last month, might have suffered mechanical or power supply issues that could have led to the change in the position of the switches that feed fuel into the plane, according to experts. They also opined that the reasons for the change in fuel switch position will be known during further investigations. The Aircraft Accident Investigation Bureau's (AAIB) preliminary report has mentioned that fuel switches ...Read More
Mumbai (Maharashtra) [India], July 12 (ANI): It was the monsoon of 2002 when 'Devdas' first hit theatres, and cinema was never the same again. With Shah Rukh Khan playing the heartbroken Devdas, Aishwarya Rai as Paro, and Madhuri Dixit as Chandramukhi, the film left a strong mark on Indian cinema. As 'Devdas' clocked 23 years on Saturday, actor Jackie Shroff, who played Chunnilal in the film, shared his memories online. Taking to X (formerly Twitter), he posted a special video clip featuring s...Read More
NEW DELHI : The idiom advising one not to compare apples and oranges is a cliché -- a figurative expression that a fruit lover can safely ignore. But anyone with an interest in the origin, spread, popularity, and market dynamics of a fruit or a vegetable can and must draw comparisons. In that spirit of enquiry, one may compare apples and mangoes, more so as they appear to be headed in different directions. Apples are vying for eternal glory, while mangoes are in tatters. Sample these numbers: ...Read More
Delhi news: After heavy rain, building collapsed in Seelampu on Saturday, leaving several trapped under the debris while 4 injured were rushed to the hospital. "A ground-plus-three building collapses in Delhi's Seelampur. 3-4 people have been taken to the hospital. More people are feared trapped. 7 fire tenders at the spot for rescue operations," Fire Department officials informed ANI The video below shows locals helping in clearing the debris after a ground-plus-three building collapsed....Read More
New Delhi [India], July 11 (ANI): The recall of Chinese employees from the Foxconn India factory, which manufactures Apple iPhones, won't impact mobile production in India, said a senior government official. The official added that it is, in fact, an opportunity for India. "I would look at it more as an opportunity. If the workers want to go back, it's between the company and the workers. They will have to make arrangements to ensure the work continues -- production won't be impacted. We facili...Read More
New Delhi, Jul 11 (PTI) Inter-ministerial consultations are underway for a ₹1,345-crore scheme to subsidise production of rare earth magnets in India with two select manufacturers proposed to be given incentives, Union Heavy Industries Minister H D Kumaraswamy said on Friday. The proposed scheme comes in the wake of China restricting exports of rare earth magnets that has hit global supplies, impacting EV makers, including in India. It will provide end-to-end support for conversion of rare ear...Read More
New Delhi, Jul 11 (PTI) The government is monitoring production targets at Foxconn and believes that Apple has alternatives to handle issues related to the return of Chinese professionals from Taiwanese electronics manufacturer's plant in India, sources said on Friday. Hundreds of Chinese technology professionals who were facilitating and managing production at Foxconn plants in India have returned to China triggering speculation that it may hamper production of the upcoming iPhone 17 series. ...Read More
New Delhi [India], July 11 (ANI): India's Quick Commerce (Q-commerce) market is estimated to have reached around ₹64,000 crore in FY25, growing at a staggering Compound Annual Growth Rate (CAGR) of 142 per cent during FY22-FY25, said market analytics firm CareEdge in its latest report. According to the report, the Gross Order Value of the quick commerce market will nearly triple from an estimated ₹64,000 crore in FY25 to around ₹2 lakh crore by FY28, registering exponential growth. Quick comme...Read More
New Delhi, Jul 10 (PTI) State governments should provide adequate financial resources to Science & Technology (S&T) Councils, and slightly restructure their governing bodies to drive innovation and technology-led growth, NITI Aayog said on Thursday. In a report titled 'A Roadmap for Strengthening State S&T Council', the Aayog said that these councils must explore wider funding opportunities available with different departments of the central government for activities related to the overall mand...Read More
MUMBAI : The annual information statement (AIS), introduced by the Income Tax Department to enhance transparency, is instead creating hassles for taxpayers by reporting incorrect incomes, according to chartered accountants. Introduced in 2021, the AIS gives a snapshot of financial transactions -- ranging from securities and mutual funds to property deals and fixed deposits -- during a fiscal year, sourced from multiple reporting entities such as banks, registrars, depositories, and sub-registra...Read More
Delhi Rains: Delhi and parts of the National Capital Region received heavy rainfall since Wednesday evening, with incessant showers continuing to batter the area on Thursday morning too. The Delhi rains, which began last evening, led to flight diversions due to poor weather. According to a report by ANI, at least six flights were diverted from the IGI Airport to Lucknow and Jaipur as poor weather conditions impacted visibility and flight operations. Waterlogging was also observed in several pa...Read More
New Delhi: US President Donald Trump on Wednesday slashed tariffs for Sri Lankan goods to 30% from 44% previously as he unveiled his latest list of nations targeted with revised duties. Nations on his list also included the Philippines, Brunei, Moldova, Algeria, Iraq, and Libya under his "reciprocal tariff" framework. The Philippines, which was earlier slated to face a 27% tariff under the 2 April announcement, will now face a reduced duty of 20% starting 1 August, according to the White House...Read More
New Delhi: Non-banking financial companies (NBFCs) will be central to India's journey towards becoming a Viksit Bharat (developed nation) by 2047, but they must follow responsible and transparent lending practices, finance minister Nirmala Sitharaman said on Wednesday. Addressing the NBFC Symposium 2025, organized by the department of financial services (DFS) in New Delhi, Sitharaman said interest rates must remain reasonable, rate cuts must be passed on to borrowers, and all charges must be cl...Read More