Page 100 - India

India of 2023 is different from what it was in 2013: Morgan Stanley

India has witnessed a significant transformation in several areas since 2014 and will emerge as a key driver for Asian and global growth, says a Morgan Stanley research report on Wednesday. India of today, the report said, is different from what it was in 2013. "In a short span of 10 years, India has gained positions in the world order with significant positive consequences for the macro and market outlook," it said. India, according to the report, "will emerge as a key driver for Asia and global growth." On the skepticism about India, particularly with overseas investors, who say India has not delivered its potential -- despite it being the second-fastest growing economy and among the top-performing stock markets over the past 25 years -- and that equity valuations are too rich, it said, such a view ignores the significant changes that have taken place in India, especially since 2014. The report highlighted the 10 big changes, including supply-side policy reforms, formalisation o

40 medical colleges lose recognition for non-compliance, 100 under lens

About 40 medical colleges have lost recognition over the last one to two months period for not meeting the standards set by National Medical Commission (NMC) in India, said official sources

Murals in new Indian Parliament building invite opposition in Nepal

Some lawmakers said that since this issue has become controversial inside India, its authenticity is yet to be established

India to host Shanghai Cooperation Organisation summit virtually on July 4

India will host the annual summit of the Shanghai Cooperation Organisation (SCO) in the virtual format on July 4, the Ministry of External Affairs (MEA) announced on Tuesday. However, it did not cite reasons for holding the summit in the virtual mode. Last year, the in-person SCO summit took place in the Uzbek city of Samarkand that was attended by all top leaders of the grouping including Prime Minister Narendra Modi, Chinese President Xi Jinping and his Russian counterpart Vladimir Putin. India assumed the rotating chairmanship of the SCO at the Samarkand Summit on September 16 last year. "Under India's first-ever chairmanship, the 22nd summit of the SCO Council of Heads of State will be held in the virtual format on July 4, chaired by Prime Minister Narendra Modi," the MEA said in a statement. India hosted the foreign ministers of the SCO at a two-day conclave in Goa earlier this month. The MEA said all the SCO member states -- China, Russia, Kazakhstan, Kyrgyzstan, Pakistan,

CIL hikes non-coking coal prices by 8%; expects Rs 2,703 crore revenue

Coal India Ltd (CIL) on Tuesday said it has increased prices of non-coking coal by 8 per cent. The prices will come into effect from Wednesday, the miner said in a regulatory filing. "The Board has approved a price increase of 8 per cent over the existing notified prices for high-grade coal of grade G2 to G10. This will be applicable to all subsidiaries, including NEC, for regulated and non-regulated sectors," CIL said. The board of directors of the company approved the revision in the prices of non-coking coal with effect from 00:00 hours of May 31, 2023, it said. Following this revision, CIL is expecting to earn incremental revenue of Rs 2,703 crore for the balance period of the financial year 2023-24. Thermal coal is a non-coking coal used by power plants to generate electricity. A rise in its prices impacts the power generation cost. Coal India, under the Ministry of Coal, is the largest coal producer in India. As per official data, in April 2022, the country's overall coal

India moving from women's participation to their leadership: Jitendra Singh

Union Minister of State for Personnel Jitendra Singh on Tuesday felicitated the top 20 rank holders of the civil services examination, the majority of them being women, here and said the country is moving from women participation to women leadership. In his welcome address, he described the 2022 batch of civil servants as the "Batch of Change Leaders", as they will be in key positions of governance when India will celebrate 100 years of Independence after 25 years as one of the frontline countries of the world. Singh said, the first four toppers and 60 per cent out of the top 20 happen to be women and this is a great reflection of demographic change happening in the last nine years of Prime Minister Narendra Modi's government, where India is moving from women participation to women leadership, according to an official statement. The top 20 candidates comprise 12 female and 8 male candidates, it said. He recalled that last year also the top three toppers were women and hoped that ..

Nepal's PM to visit Mahakaleshwar Temple, Indore IT SEZ during India tour

Nepal's Prime Minister Pushpakamal Dahal Prachand will visit the renowned Mahakaleshwar Temple in Ujjain and also an IT Special Economic Zone (SEZ) in Indore in Madhya Pradesh during his India trip beginning on Wednesday, official sources said on Tuesday. Prachanda, along with a high-level delegation, will travel to India on Wednesday on a four-day official visit for talks with his Indian counterpart Narendra Modi and other leaders to further strengthen the age-old, multifaceted and cordial bilateral ties. After official engagements in New Delhi, he will arrive in Indore on June 2 and travel to neighbouring Ujjain district where he will offer prayers at the famous Mahakaleshwar Temple, one of the 12 jyotirlings (major places of worship of Lord Shiva) in the country, the sources said. He will also visit a solid waste management plant in Indore the same day, they said. On June 3, the Nepalese PM will visit TCS and Infosys campuses in an IT SEZ in Indore and leave for New Delhi ...

India extends $1 billion credit line to Sri Lanka by another year

India on Tuesday extended its USD 1 billion credit line to Sri Lanka by another year to help the island nation hit hard by an unprecedented economic crisis procure much-needed food, medicine and other essential items. An agreement was signed between the State Bank of India (SBI) and the Sri Lankan government for USD 1 billion credit facility in March last year. India extended the credit line to Sri Lanka at the height of the country's economic crisis. "India reaffirms its commitment to the people of Sri Lanka. The Amendment Agreement signed in presence of Hon.Minister @ShehanSema today will enable Sri Lanka to use the USD 1 billion Indian credit facility for the procurement of medicine, food, and other essentials for one more year," the Indian High Commission in Sri Lanka tweeted. "Beyond the original duration, that is, till March 2024. The facility was extended by India through @TheOfficialSBI in response to a specific request from GOSL and forms a part of the multi-pronged ...

ADB launches country partnership strategy for climate-resilient growth

It will focus on accelerating structural transformation and job creation, promoting climate-resilient growth, and deepening social and economic inclusiveness, during its partnership period 2023-2027

Structural reforms to be sustained to improve India's growth potential: RBI

Monetary policy remains focused on withdrawal of accommodation to ensure that inflation progressively aligns with the target, while supporting growth, the central bank said

India deservedly claiming its position on world tourism stage: Chhatwal

Indian travel and tourism is at an important inflection point and the country is deservedly claiming its position on the world tourism stage with its presidency of the G20 providing the perfect platform, according to Indian Hotels Company Ltd Managing Director and CEO Puneet Chhatwal. In his address to shareholders in the company's annual report for 2022-23, Chhatwal said India is on a growth path and the services sector including the travel and tourism business is emerging as a major growth engine for the Indian economy, having successfully put the pandemic behind. "People are once again flying in great numbers, airports are crowded, hotels are well booked, and travellers want to explore, connect and feel alive through the exhilarating emotion of travel," he wrote. Chhatwal said India is deservedly claiming its position on the world tourism stage. "With India's Presidency of the G20, we are positioned like never before to showcase our nation's cultural heritage, our unique and ...

Misfiring of BrahMos missile into Pak cost India Rs 24 cr: Centre tells HC

The Centre also defended the termination order of IAF officers, claiming that the decision was motivated by public interest and not malice

Checkmate for Chinese firms in India's growing reinsurance market

The insurance business, by its nature, collects enormous data about Indians and is regarded as an economically sensitive sector

FDI equity inflows dip 22% to $46 billion in 2022-23, shows DPIIT data

Foreign direct investment (FDI) into India declined by 22 per cent to USD 46 billion in 2022-23, dragged by lower inflows in computer hardware and software, and automobile industry, according to the Department for Promotion of Industry and Internal Trade (DPIIT) data. The FDI inflows stood at USD 58.77 billion during 2021-22. Total FDI inflows, which include equity inflows, re-invested earnings and other capital, declined by 16 per cent to USD 70.97 billion in the last fiscal as against USD 84.83 billion in 2021-22. During April-March 2022-23, Singapore emerged as the top investor with USD 17.2 billion FDI. It was followed by Mauritius (USD 6.13 billion), the US (USD 6 billion), the UAE (USD 3.35 billion), the Netherlands (USD 2.5 billion), Japan (USD 1.8 billion), UK (USD 1.73 billion), Cyprus (USD 1.27 billion), Cayman island (USD 772 million), and Germany (USD 547 million), the data showed. The FDI inflows have contracted in 2022-23 from Mauritius, the US, the Netherlands, the

SBI raises $750 mn via bonds on India INX under its $10 bn MTN programme

SBI, the country's largest public sector lender, on Monday raised USD 750 million under its USD 10 billion Global Medium Note programme to fund its overseas business growth. The fund was raised at INX's Global Securities Market (GSM), GIFT International Financial Services Centre (IFSC) at Gandhinagar from global investors. The bonds were issued through SBI's London Branch to fund offshore business growth and were priced competitively. This demonstrates strong investor confidence in the country's largest bank and paves the way for a strong pipeline of foreign currency bond issuances this year, it said. Commenting on the listing, SBI chairman Dinesh Khara said the success of the issue highlights the strong investor base SBI has created for itself in the offshore capital markets. The issuance received huge participation from several marquee accounts across geographies resulting in the largest spread compression amongst all USD Indian bond issuances during the current year, it said.

India emerges as key source country for FDI into Dubai, says report

India has emerged as a key source country for Foreign Direct Investment (FDI) in Dubai, one of the wealthiest of the seven emirates in the United Arab Emirates, according to a report released on Monday. It ranked among the top five source countries for announced FDI projects and estimated FDI capital, according to a report released by "fDi Markets', a service from UK's Financial Times Ltd. With 77.5 per cent of greenfield projects, the top sectors by FDI projects from India into Dubai in 2022 were software & IT services (32 per cent), business services (19 per cent), consumer products (9 per cent), real estate (6 per cent), and financial services (5 per cent). Meanwhile, the top sectors by FDI capital from India into Dubai in 2022 were consumer products (28 per cent), software & IT services (20 per cent), communications (19 per cent), pharmaceuticals (8 per cent), and business services (8 per cent). Apart from maintaining its first rank as a destination city for FDI from ...

BGMI video game is now available for play in India, announces Krafton

South Korean video game developer Krafton on Monday announced that the video game Battlegrounds Mobile India (BGMI) is now available for play in India

WEF prez pitches for win-win thinking amid increased polarisation globally

Calling for "win-win thinking" amid increased polarisation and fragmentation globally, World Economic Forum (WEF) President Borge Brende has said that hopefully, India's G20 Presidency will help get leaders to discuss collaborating on fighting climate change and rules around new technologies. WEF, headquartered in Geneva, is an international organisation for public-private cooperation and has collaborations with India. In an interview with PTI in the national capital, Brende sounded "cautiously optimistic" about finding and developing a floor when it comes to an agreement between the big countries and the world on traffic rules and collaboration. "We will have some derisking, friend shoring, and nearshoring not just in time but also when it comes to global value chains. I hope that 90 per cent of the trade we have today will also continue in the future," he said. India is holding the G20 Presidency this year and also at a time when geopolitical tensions, including the Russia-Ukrain

New Parliament building reflects aspirations of new India: PM Modi

New Parliament building to herald rise of developed India, will inspire world, says PM Modi

India play out 1-1 draw against Pakistan in Men's Junior Asia Cup hockey

India played out a thrilling 1-1 draw against arch-rivals Pakistan in their third Pool A game to continue their unbeaten run in the men's Junior Asia Cup hockey tournament in Salalah here. Sharda Nand Tiwari (24th minute) gave India the lead in the high-stake match on late Saturday night but it was nullified by Basharat Ali in the 44th minute. The result means India, with seven points from three matches, stays second in Pool A behind Pakistan (same points) but are ahead on goal difference. Japan, who beat Chinese Taipei 10-1 earlier on Saturday, are third with six points from three outings. India had earlier thrashed Chinese Taipei 18-0 before beating Japan 3-1 in their second match. On Saturday night, the Indians went on the offensive from the word go and kept Pakistan defence under pressure with repeated forays. India won a couple of penalty corners early in the game but couldn't capitalise on them. Pakistan, on the other hand, also managed to create a few chances and even cam