India Financial News

sports retailer Decathlon on Wednesday said it will invest 100 million euros (around Rs 933 crore) in India, its one of the fastest growing markets, in the next five years to expand retail footprint and manufacturing operations. The company expects its business to become double in next three to five years, said Decathlon India CEO Sankar Chaterjee. The company plans to have a network of 190 stores, having presence in over 90 stores in next 5 years as part of its expansion, he added. Besides, a handful of this would also be spent on enhancing the digital channel as per the omni-channel approach of the company.

What were your most memorable moments of the recently concluded Olympic games? Among the many, one of my most memorable moment was Novak Djokovic winning the gold in Men’s tennis. In his long career, he has won 24 grand slams. The only missing piece in his trophy cabinet was an Olympic gold medal.

Commerce and Industry Minister, Piyush Goyal raised concern about the functioning of the E-commerce sector, saying that E-commerce is eating into the small retailers by giving heavy discounts on products. Goyal charged E-commerce players with predatory pricing and not giving a level playing field to small retailers. Speaking at an event for the Report Launch on 'Net Impact of E-Commerce on Employment and Consumer Welfare in India Goyal said, «What does e-commerce do we all think that?, they are making things so much cheaper. If I go to a store and buy a five-star chocolate or a box of chocolates, It's going to cost me 500 rupees. I can get it delivered on e-commerce for 350 rupees. It's because that's the item that had the largest margin. E-commerce is eating into the small retailers, high value, high margin products, which are the only products through which it survives.»

Stree 2," directed by Amar Kaushik, is receiving a lot of love from the audience for its horror-comedy blend and its striking antagonist, Sarkata. This supernatural character, causing havoc in the town of Chanderi, is portrayed by Sunil Kumar, also known as The Great Angaar in wrestling circles. Kumar, who stands at 7.7 feet tall, not only engages in wrestling but also serves as a constable in the Jammu and Kashmir Police. Sunil Kumar, hailed as the Great Khali of Jammu, plays the role of the headless monster Sarkata in «Stree 2.» Born on December 16, 1990, Kumar has previously participated in a WWE Tryout in 2019 and expresses aspirations to represent India in the WWE Championship. Despite his imposing stature, it’s important to note that Sarkata’s face in the film was created using CGI, while Kumar’s body shots were used for the character. According to director Amar Kaushik, the casting team discovered Kumar because of his height and physique. «My team found Sunil Kumar and chose him for Sarkata's role mainly due to his height and physical stature,» Kaushik shared with Bollywood Hungama. «While Kumar’s body shots were used for the character, Sarkata’s face was created using CGI.»

MUMBAI : NMDC Ltd clocked an Ebitda growth of 18% year-on-year (y-o-y) for the June quarter (Q1FY25), beating Street’s estimates. This growth was driven by higher realisation, up 9.3%, lower royalty expenses and other operating costs. However, the company faces near-term headwinds, with the recent cut in prices reflecting global supply overhang.

₹10,999 for the 4GB RAM/128GB storage variant and ₹12,999 for the 8GB RAM/128GB storage variant. It comes in three colourways: Brilliant Blue, Brilliant Green and Viva Magenta.Moto G45 5G features a 6.45 inch HD+ display with a resolution of 1600 x 720 pixels and up to 120Hz refresh rate.

Mint delves deeper into the issue and what’s likely to come next. The telecom regulator sought comments from stakeholders on how to frame the terms and conditions to grant licences for services that fall under the new telecom law, which came into effect earlier this year.

Defence sector based mutual funds (including active and passive funds) have lost upto 5% in the last one month. These schemes gave a negative average return of around 4.04% in the said period. Only two funds based on the defence sector have completed one month of existence in the market. In the last one month, Nifty India Defence — TRI also lost around 5.13%. Motilal Oswal Nifty India Defence Index Fund, a passive fund based on defence sector, lost the most of around 5.21% in the last one month. Launched in July 2024, the scheme manages assets of Rs 2,330 crore as on July 2024.

₹3,119 per gram then, according to the India Bullion and Jewellers Association Ltd. That gold was redeemed this year at ₹7,190 per gram. In effect, the government will pay 13.5-14% compounded on the SGBs redeemed this year, given around 11% CAGR of gold prices plus the interest.

The 3% fiscal deficit target: Is it sacrosanct? Irrespective of how the data is sliced, India’s public debt position is weak for a country of its size and potential. Of countries in the BBB category, India has the highest fiscal-deficit-to-GDP and the third-highest general-government-debt-to-GDP ratios. Among large emerging markets, its debt-to-GDP metric is much higher than that of Thailand, Mexico, Philippines, and closer to below-investment-grade Brazil.

Defence Minister Rajnath Singh will embark on a four-day visit to the US beginning August 23 to strengthen the India-US Comprehensive Global Strategic Partnership. During the visit, Singh will engage in talks with US Defence Secretary Lloyd Austin and National Security Advisor Jake Sullivan, focusing on key defence cooperation initiatives, including the procurement of 31 MQ-9B Predator drones, joint manufacturing of Stryker infantry combat vehicles, and the co-production of GE F414 engines in India. The Defence Ministry announced that Singh's visit aims to deepen and broaden the India-US Comprehensive Global Strategic Partnership, in light of the growing momentum in bilateral relations and defence engagements. Officials highlighted the significance of Singh’s meetings, noting that the Indian Defence Acquisition Council (DAC) has recently cleared the MQ-9B Predator drone deal with certain amendments, and the Indian Navy’s partnership with HawkEye 360 as part of the QUAD Indo-Pacific Partnership of Maritime Domain Awareness (IPMDA). “The visit is expected to further deepen and broaden the India-US Comprehensive Global Strategic Partnership,” the Defence Ministry stated while announcing Singh’s trip to the US from August 23 to 26.

Noel Tata, Chairman of the CII Africa Committee and Chairman of TATA International Ltd. emphasized the growing need for innovative financial strategies to overcome challenges in India-Africa trade at the 19th edition of the CII India-Africa Business Conclave in New Delhi. He particularly highlighted the concept of Rupee trade as a potential solution, stating, «To address these challenges, we are exploring the concept of Rupee trade.» Tata underlined the importance of building mutual trust between financial institutions in India and Africa, stressing that this would pave the way for broader private-sector participation.

Note that not all Indian nationals are required to obtain an ITCC prior to departing the country, despite what some recent stories claim, stated a Press Information Bureau press release on August 20, 2024. Tax clearance certificate: What was announced in Budget 2024 Finance Minister Nirmala Sitharaman introduced a significant amendment in the Union Budget 2024 for those planning to relocate from India. According to the Budget 2024 announcement, the new law requires individuals domiciled in India to clear all tax dues and get 'clearing certificates' before departing the country.

ICC T20 World Cup match in New York between arch-rivals India and Pakistan has received a «satisfactory» rating from the governing body of the sport. The highly-anticipated match between these two arch-rivals at New York's Nassau County International Stadium was a low-scoring thriller. After being cleaned up for 119 runs, with Rishabh Pant scoring 42, Pakistan could manage only 113/7 in their quota of 20 overs, with Jasprit Bumrah bowling a game-changing spell of 3/14 in four overs. The drop-in pitches in New York were under scrutiny throughout the tournament because of low-scoring matches and uneven, unpredictable bounce. During the Sri-Lanka South Africa clash, SL could score only 77 runs in 19.1 overs and SA chased down the target in 16.2 overs.

IndiaP2P was founded in 2021 by Neha Juneja as a platform that focuses on empowering women entrepreneurs. With 96% of its borrowers being women leading SMEs, particularly in rural areas, IndiaP2P has grown through partnerships with organisations and microfinance institutions across regions like Nagaland, the southern states, and Maharashtra by providing essential capital to these entrepreneurs. In a chat with ETDigital, Juneja, the CEO and Co-founder of the platform, talks about what she wants to achieve, why IndiaP2P has placed a bet on women entrepreneurs and the role of the regulator in the fintech space. Edited excerpts. Economic Times (ET). When did you start IndiaP2P and what was the idea behind it? Neha Juneja (NJ): We started operations in 2022 with a core thesis that women and small business owners make for prudent borrowers. Investing in them is both profitable and purposeful, given the direct and second-order effects of enabling income expansion, especially for women. Building on this thesis, we now source loans predominantly from women businesses nationwide and curate them for retail lenders to lend to.

Piyush Goyal on Wednesday expressed concerns over the rapid expansion of e-commerce firms in India, describing it as a «matter of concern» rather than an achievement. Speaking at an event for the launch of a report on the 'Net Impact of E-Commerce on Employment and Consumer Welfare in India', Goyal raised questions about the potential social disruption that might follow this surge. «Are we going to cause huge, social disruption with this massive growth of e-commerce? I don't see it as a matter of pride that half our market may become part of the e-commerce network 10 years from now; it is a matter of concern,” Goyal remarked.

Broach Lifecare Hospital listed on the BSE SME platform with a 90% premium on Wednesday. The stock debuted at Rs 47.5, compared to an issue price of Rs 25 per share. Ahead of the listing, the company’s shares had no gray market premium (GMP). The IPO, which was a fresh equity sale of 16.08 lakh shares, was oversubscribed by over 100 times at closing, driven by strong interest from retail investors.

Suzuki Motor Corporation (SMC), the company's majority shareholder, confirmed this move, as per the Business Standard report.Livemint could not independently verify the news development.“We are currently adjusting production to reduce market stock and are closely monitoring demand trends. India will be in a critical period with the upcoming festival season, so we will closely monitor demand trends," Suzuki Motor Corporation told analysts in a conference call, Business Standard reported quoting the transcript of the call.Despite a 7.4 per cent year-on-year increase in production to 496,000 units during the first quarter, sales growth lagged significantly, rising by only 1.2 per cent to 427,000 units, according to the Business Standard report.This slowdown in car sales has sparked concerns throughout the Indian auto industry, accumulating unsold vehicles at dealerships.

₹10,000, you’ll find a wide range of options available. Whether you’re a beginner seeking a dependable and affordable bike or looking to upgrade your current ride, key considerations include suspension quality, ease of assembly, and performance accessories. In this article, we’ll explore five top budget-friendly bicycles, analysing their features and specifications to help you make an informed choice.

Bandhan Bank Ltd.(up 2.52 per cent) were among the top gainers.

₹21,381 crore, with investment income at ₹11,908 crore, and revenue surplus after tax at ₹24,559 crore. As an insurance company, it has an actuarial valuation for liability as of 31 March 2023 at ₹12,174 crore, but surplus collection to date beyond actuarial liability totalled ₹1,57,427 crore. The total funds available with the Deposit Insurance Fund are ₹1,69,602 crore, or 2.02% of the total insured amount.