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A MoU Exchange Ceremony took place on the eve of the "Samudra Se Samriddhi - Transforming India's Maritime Sector" programme on September 19 at Bhavnagar, Gujarat.According to the Ministry of Ports, Shipping and Waterways' release, this event was addressed by Prime Minister Narendra Modi, in which a number of projects pertaining to the maritime sector were launched.The MOUs were signed on September 18th in the presence of Union Minister of Ports, Shipping, and Waterways, Sarbananda Sonowal, Dr Mansukh Mandaviya, Union Minister of Labour & Employment, Youth Affairs & Sports, and Shantanu Thakur, Minister of State for Ports, Shipping, and Waterways.Additionally, twenty-seven Memorandum of Understanding (MoUs) were exchanged between public and private sector stakeholders in the maritime sector, state governments, and international partners. According to the government, these agreements carry an investment and development potential of over ₹66,000 crore and represent a ...
Engineering, procurement and construction companies could see mid-to-high single-digit revenue growth and largely stable margins, with some upside, in the ongoing financial year, India Ratings and Research (Ind-Ra) said on Monday. This is despite the undemanding base effect of FY25 when revenue slumped 4-5 per cent year-on-year with the absolute sector EBITDA remaining largely flat, hit by the busy election season. The EPC sector across 22 listed entities delivered revenue growth of 5 per cent y-o-y in the first quarter of the current fiscal year, marking the fifth consecutive quarter of single-digit revenue growth. "The hopes of strong start to FY26 by the EPC sector have not materialised, despite an undemanding base of the past year, hit by the election impact. Guidance by the companies suggests aggregate revenue growth of 12.7 per cent year-on-year, around 100bp lower than the earlier guidance. "This is susceptible to further downside as the companies' guidance heavily relies on
India's semiconductor market is expected to more than double to grow in the range of USD 100-110 billion by 2030 according to industry estimates, an official statement said on Sunday. The Indian semiconductor market was about USD 45-50 billion in 2024-2025 against USD 38 billion in 2023, the statement said, citing industry estimates. "As per industry estimates, the size of the Indian semiconductor market was about USD 38 billion in 2023, USD 45-50 billion in 2024-2025 and is expected to reach USD 100-110 billion by 2030," the statement said. A detailed statement highlighting the need for semiconductors, efforts of the government and response from the industry cited the crisis faced by various technology segments especially by the automobile industry due to dependency on select geographies during the Covid pandemic and stressed on the need for developing India as trusted partner in the global supply chain. "Currently, countries like Taiwan, South Korea, Japan, China and US dominate
Force Motors on Wednesday reported a 53 per cent increase in consolidated net profit to Rs 278 crore for the first quarter ended June 30, 2025, on the back of robust sales growth. The Pune-based automaker reported a consolidated net profit of Rs 182 crore for the April-June quarter of last year. Revenue from operations rose to Rs 2,297 crore in the first quarter as against Rs 1,885 crore in the year-ago period, Force Motors said in a statement. "This growth can be attributed to our consistent focus on meeting customer expectations, capitalising on domestic momentum, and improving internal efficiencies," Force Motors MD Prasan Firodia said. The continued trust of customers and the unwavering effort put in by teams have been pivotal to this success, he added. "With positive indicators in the domestic market, we remain optimistic about sustaining growth in the coming quarters. Our investments in innovation, reliability, and expanding our dealer network will further strengthen our mar
HDFC Bank is confident of growing its advances on par with the industry in the current financial year and exceeding it next year, Managing Director & Chief Executive Officer Sashidhar Jagdishan said in a message to stakeholders. Jagdishan, in his message published in the bank's annual report, said the results of FY25 represented the first full year of operation since the merger on July 1, 2023. He said that in the last financial year, the bank reported healthy growth while maintaining pristine asset quality, which has been its USP across business cycles. Net profit increased by 10.7 per cent to Rs 67,347.4 crore in March 2025, while net interest income grew by 13 per cent. "Your Bank's balance sheet rose by over 8 per cent to Rs 39,10,199 crore. Gross NPAs were at 1.33 per cent of Gross Advances. Advances grew by 5.4 per cent to Rs 26,19,609 crore while deposits grew 14.1 per cent to Rs 27,14,715 crore," Jagdishan said. As is evident, he said the bank's deposits grew 2.5 times ...
SOTC Travel is targeting double-digit growth for the current financial year ending March, with a strong focus on expansion across regional India, the company's Managing Director & CEO Vishal Suri said. In an interview to PTI, he shared the company's vision for expansion and travel trends, including a strong rise in pilgrimage tourism with the onset of the Shravan season, particularly for the 12 Jyotirlingas. "We are targeting healthy double-digit growth for FY25-26. Regional India is a key focus area for us. We are not only widening our reach across the country but also deepening our presence in existing markets, based on the need and potential we see," Suri told PTI. He observed that the company's expansion strategy is both broad and focused, enabling it to tap into emerging travel demand across demographics and geographies. "We are committed to strengthening our omnichannel strategy with focused expansion across both digital and physical touchpoints. We're actively investing in .
Sales of listed private non-financial companies registered a 7.1 per cent growth during January-March quarter of 2024-25 as compared to 8 per cent of expansion in the previous quarter and 6.9 per cent during the year, according to RBI data released on Thursday. The Reserve Bank released data on the performance of the private corporate sector during the fourth quarter of 2024-25, drawn from abridged quarterly financial results of 2,936 listed non-government non-financial companies. Aggregate sales growth (y-o-y) of 1,659 listed private manufacturing companies moderated to 6.6 per cent during Q4:2024-25 from 7.7 per cent during the previous quarter. RBI said that even as major industries such as electrical machinery, chemicals, food products and pharmaceuticals industries recorded a double-digit sales growth, weak performance of petroleum industry pulled down the sector's sales growth. Annually, sales growth of IT companies improved further to 8.6 per cent in Q4 from 6.8 per cent in
Prime Minister Narendra Modi on Friday said the Northeastern region is witnessing unprecedented progress and the government is determined to accelerate its growth story. Addressing the 'Rising North East Investors Summit' here, he also said that diversity of the Northeast is its biggest strength and that the region is emerging as the frontrunner of growth. "The Northeast is witnessing unprecedented progress. We are determined to accelerate its growth story," he said while inaugurating the two-day event which is being attended by chief ministers of the region, union ministers, bureaucrats, diplomats among others. Top industry leaders Mukesh Ambani, Gautam Adani, Anil Agarwal among others attended the inaugural session. Modi said for his government, EAST means - "Empower, Act, Strengthen and Transform". "There was a time when Northeast was only called frontier, now it is frontrunner of growth," he said. He said the Northeast was earlier synonymous with bombs, guns and rockets which
Arunachal Pradesh Chief Minister Pema Khandu said the state has experienced rapid development since 2016, attributing it to the government's policies of "reformation, performance, and transformation". Speaking at a developmental meeting at Shergaon in West Kameng district on Sunday, Khandu outlined the significant progress in GSDP, state budget, per capita income, GST collection, and state-owned resources since he assumed office in 2016. "Reformation, performance, and transformation are driving Arunachal Pradesh on a path of accelerated development," Khandu said, highlighting a 135 per cent increase in GSDP since 2016. He noted that the state budget had grown from Rs 12,500 crore in 2016 to over Rs 40,000 crore in 2025. "If we compare 2016 and 2025, our per capita income has risen by 105 per cent, GST collection by 584 per cent, and state-owned resources, which were just Rs 900 crore in 2016, have surged to over Rs 40,000 crore this year," an official statement on Monday quoted Kha