India Financial News

India’s foreign exchange reserves climbed for the second consecutive week, reaching a peak of $644.15 billion as of May 10, according to data released by the central bank on Friday, reported Reuters.

At the Indira Gandhi International (IGI) Airport, a full emergency was declared around 5:52 pm on Friday for an Air India flight 807 from Delhi to Bangalore as blaze was reported in the AC unit. There were 175 passengers on board. At around 6:38 pm, the flight landed safely.

The Supreme Court on Friday sought a response from the Election Commission of India (ECI) within a week on a plea by an NGO seeking a direction to upload polling station-wise voter turnout data on its website within 48 hours of the conclusion of polling for each phase of the Lok Sabha elections, reports Bar and Bench.

Zydus Lifesciences on Friday reported Rs 1,182 crore net profit in Q4FY24, a threefold year-on-year (YoY) jump led by growth in US, India, Europe and emerging market sales. The Ahmedabad-based drug maker reported net profit of Rs 297 crore in the corresponding period of previous year.

Rajnath Singh on Friday asserted that Pakistan Occupied Kashmir «was, is and will remain ours» while also hitting out at the opposition parties for raking up the China issue. Accusing the opposition parties of spreading confusion on the China issue, he said, «India has not lost anything. We will not let India lose anything. Talks are ongoing… we are confident that a solution will be found.» Addressing an election rally in Ballia's Sikandarpur in support of the BJP's Salempur candidate Ravindra Kushwaha, Singh also asserted, «Pakistan Occupied Kashmir was ours, is ours and will remain ours.» He claimed that after four phases of elections, political analysts not only in India but across the world believe that the BJP is going to form the government by winning more than 400 seats.

Nagaland People's Organisation (ENPO) on Friday rejected the Nagaland government’s appeal and stated that it remained firm on its decision of abstaining from participating in the Urban Local Bodies (ULB) elections, scheduled on June 26. ENPO Secretary W. Manwang Konyak said that they did not receive any written appeal and only saw in the media that the state government has made an appeal not to boycott the ULB polls.“We have to go by the decision of our grassroots level people and organisation. We would abstain from participating in the ULB polls,” Konyak said. After a cabinet meeting chaired by Chief Minister Neiphiu Rio, the Nagaland government on Thursday urged the ENPO not to boycott the vital ULB polls.

India is a friend of the world and the global community expects it to contribute significantly in bringing peace to war-torn Ukraine, Swiss State Secretary of Foreign Affairs Alexandre Fasel said on Friday as Switzerland prepares to host a major summit next month to end the conflict in Ukraine. Fasel held wide-ranging talks with his Indian interlocutors and extended an invitation to the Indian prime minister for participating at the summit that is aimed at charting a course for a just and lasting peace in Ukraine. Switzerland has extended invitations to over 160 countries for the summit to be held on June 15 and 16. «India is a friend of the world. There is really an expectation from the international community that India can contribute to this (peace) process,» Fasel told PTI in an interview.

ministry of skills development and entrepreneurship has proposed blending of digital content into classroom learning using digital tools and resources as part of its trainer development strategy for skilling, developed by the Future Right Skills Network (FRSN). “To cater to the vision of a Viksit Bharat 2047, the ministry has laid out a roadmap where trainers from short-term and long-term skilling ecosystems will be equipped with the right skills and technology to help learners participate in the future market,” MSDE said in a statement issued on Friday. Besides, it has laid out a blueprint to improve the efficiency of existing trainers through recognition, performance evaluation, motivation, and up-skilling.

FISS) on Friday said India's spice export may decline nearly 40 per cent in FY25 if the issue of ethylene oxide or EtO contamination in spices meant for exports is not addressed at the earliest. The statement came against the backdrop of Hong Kong and Singapore banning the sale of popular brands MDH and Everest after detecting carcinogenic chemical ethylene oxide in their products, leading to a mandatory recall from shelves. In 2023-24, India's spice exports totalled USD 4.25 billion, accounting for 12 per cent share of global spice exports. «Lot of exporters have orders on their hands and they have been halted to an extent after that episode. As per our estimate, spice exports could be affected by 40 per cent of the volume this year if the issue is not resolved quickly,» said Tejas Gandhi, Secretary of FISS, an association of nearly 600 spice traders, exporters and farmers from across the country.

India could become the third largest economy globally by 2027-28 if the country continues the growth momentum witnessed in the last two decades, 16th Finance Commission Chairman Arvind Panagariya said on Friday. He also said that during the last two decades, beginning 2003-4, India has ended extreme poverty. The extreme poverty, currently, is not more than 3 per cent of the total population. «Growth has been across the board because poverty does concentrate in rural areas. With overall poverty falling to low levels, extreme poverty has been conquered largely,» Panagariya said. Speaking at the CII's Annual Business Summit 2024, Panagariya said there is a problem of under-employment in the agriculture sector as a large portion of the workforce is engaged in the segment, and there is a need to move them out of the vertical to industry for faster urbanisation.

PTI quoting Jaiswal. Jaiswal also said that the Union Territories of Jammu, Ladakh and Kashmir are an inseparable part of India and will always be, reported ANI. Earlier in the day, External Affairs Minister S Jaishankar said that the tolerance for any cross-border terrorism is very low and added," If they wind down this (terror) industry they have created, then people will treat them as normal neighbours.

100 Lok Sabha seats in North and West India, and not gain any in the East and the South. ALSO READ: Will BJP cross 370-mark in Lok Sabha elections? Prashant Kishor hints at PM Modi's 'psychological warfare' Prime Minister Narendra Modi has exuded confidence that his party, the BJP, will win over 370 seats of the total 543 Lok Sabha seats, and the NDA will win over 400 seats. Kishor told RTV Andhra Pradesh that it's all “guesswork and no one knows who will win how many seats".

Infinix GT 20 Pro is equipped with the MediaTek Dimensity 8200 Ultimate processor and offers up to 12GB of RAM. A highlight of the device is its 108MP triple rear camera system. Designed with gamers in mind, the phone features a "cyber mecha" aesthetic and includes a specialized X5 Turbo gaming chip.

JSW Steel has guided for further growth in its sales volume in the current fiscal after its consolidated steel sales were at an all-time high of 24.78 million tonne in 2023-24 (Apr-Mar), up 11% as compared to the previous year. The country’s largest steel-maker has guided for consolidated steel production of 28.40 million tonne, and saleable steel sales of 27 million tonne this year. “Rising utilisation levels and healthy balance sheets are expected to boost private capex, with investments in energy transition and the government’s Production-Linked Incentive scheme adding tailwinds,” the company said in its outlook. “The outlook for both public and private housing, as well as the auto sector, remains favourable”.

average age of Indian consumers of cars, premium smartphones and large televisions has dropped by up to seven years in the past 5-6 years, reflecting a major shift in consumer buying pattern towards younger demographics. Top car makers such as Maruti Suzuki, Hyundai Motor and Mercedes-Benz say the average buying age, including for luxury vehicles, has fallen from the 40s to almost mid-30s between 2018-19 to 2023-24. Companies said over 70% of electric cars are currently bought by those in their 20s and 30s. In the same period, the average age for Apple iPhone buyers has declined from 33-34 to 28-29 and for large screen televisions (size 55-inches and upwards) from 35-36 years to 29-30, as per industry estimates. Similar is the case with frost-free refrigerators and dishwashers.

auto component manufacturers, electric mobility and companies with auto export potential. The fund house, meanwhile, claims that this is an indicative list. The classification of companies following the automotive and allied business activities will be largely guided by the Association of Mutual Funds in India's (AMFI) basic industry classification.

education through a robust credit framework that will allow portability to millions of youth while making skills aspirational, skills development secretary Atul Kumar Tiwari said on Friday. Addressing a session at the Confederation of Indian Industry’s Annual Business Summit 2024, Tiwari said the idea is to bring skilling and education on a common platform so that they can be threaded together, they can be seen together and they can be made portable. “It also gives a certain aspiration value to skilling besides allowing multiple entry and exits between education, skilling and employment through credits which help individuals scale up in their careers,” Tiwari said.

flight AI-807, scheduled from Delhi to Bangalore, was forced to return to Delhi's Indira Gandhi International Airport (IGI) due to a suspected fire in the aircraft's air conditioning (AC) unit. The flight, carrying 175 passengers, landed safely at 6:38 PM local time, according to a Delhi airport official. Full Emergency Declared at Delhi Airport A full emergency was declared at Delhi's IGI airport at around 5:52 PM for Air India flight 807 as fire was reported in the AC unit. Despite the emergency, the flight managed to land safely at around 6:38 PM, ensuring the safety of all passengers on board.

Real estate developer Migsun Group is planning to invest Rs 500 crore in 4 mixed-use commercial projects. Spread cumulatively over 2 million sq ft, the projects have received the RERA approval. Three of the four projects are located along Yamuna Expressway, and one is in Greater Noida.

When we think of gold, the first thing that comes to mind is an inherent desirability for the precious metal among masses in our country. This ever-lasting appeal of gold for the past many decades has seen India emerging as one of the leading gold consumers globally.

Are you a member of Club Vistara frequent flyer programme and wondering what will happen to your CV points post merger of Vistara with Air India.