India Financial News

NEW DELHI: External affairs Minister S Jaishankar rejected US President Joe Biden’s description of India as “xenophobic” and grouping it with countries said to be economically troubled. “First of all, our economy is not faltering,” he said at the ET Roundtable on Friday. “India is always… India has been a very unique country… I would say actually, in the history of the world, that it's been a society which has been very open… different people from different societies come to India." Jaishankar also cited the Narendra Modi government’s legislation that facilitates such a welcome. “That's why we have the CAA (Citizenship Amendment Act), which is to open up doors for people who are in trouble… I think we should be open to people who have the need to come to India, who have a claim to come to India.”

BHIM or Bharat Interface for Money will soon become available on the government-backed nonprofit Open Network for Digital Commerce (ONDC), with an aim to counter the dominance of Google Pay and Walmart-backed PhonePe in India’s digital payments sector, people aware told ET. BHIM, developed by the apex group for digital payment systems in the country — National Payments Corporation of India (NPCI), will foray into the ecommerce arena on ONDC through a separate division, they added.

Heatwave alert issued in THESE states; heavy to very heavy rains in North East Maximum temperatures settled in the range of 43-46 degrees Celsius in parts of Andhra Pradesh, Telangana, Odisha, Vidarbha, Madhya Maharashtra and 40-43 degrees in parts of Gangetic West Bengal, Marathwada and north interior Karnataka, Rajasthan, Uttar Pradesh, Jharkhand, Chhattisgarh, Madhya Pradesh and Gujarat. The IMD said the ongoing heatwave spell will continue until May 5-6 and abate thereafter in east India and the southern peninsular region.

BENGALURU : When the fundraising route for startups began drying up a couple of years ago, several emerging companies turned to venture debt. With the macroeconomic environment becoming tougher, a few of those startups, including the Good Glamm Group, are now negotiating extensions for repaying those loans. Venture debt backers, typically loath to accept such requests, are faced with a quandary: which one to honour, based on which startups are more likely to survive.

Tesla Power" to market its products, on May 3. The lawsuit, heard in the Delhi High Court, seeks damages and a permanent injunction to stop the use of the Tesla brand name, as per Reuters. During a court session this week, it was revealed that the Indian company, Tesla Power India Pvt Ltd, continued to promote its products under the "Tesla Power" brand despite receiving a cease-and-desist notice in April 2022, as reported on the court's website, the report added.

party candidate from Raebareli seat after days of suspense. But Garry Kasparov was not commenting on Jairam Ramesh's tweet but to a “random thought" by an X user. The user said that Garry Kasparov and Indian chess grandmaster Viswanathan Anand retired early and “didn’t have to face the greatest chess genius of our times." Responding to the post, Garry Kasparov said, "Traditional dictates that you should first win from Raebareli before challenging for the top!" followed with a laughter emoji.

₹17,000 crore, amounting to 60-70% of its capital expenditure requirement. The loan, from a consortium led by India's largest lender SBI, will be part of a financial closure programme for Adani Petrochemicals Ltd’s coal-to-polyvinyl chloride plant, which would be India's largest PVC manufacturing facility once completed. The group had in March last year halted the project saying it had decided to hold major equipment procurement and site construction activities pending financial closure, following the Hindenburg report that had alleged financial fraud at Adani Group companies.

Also read | Input costs, election, Chinese imports to weigh on steelmakers' Q4 Similarly, the manufacturing process of engineering goods involves heat-intensive processes. Casting, forging, and welding are common processes used to shape and assemble metal components—all of which require high temperatures. Plastic materials, too, are melted at high temperatures and then moulded into desired shapes.

Tornadoes can make a landfall anytime of the year in the US, but an analysis has revealed that maximum number of tornadoes make a landfall in the month of May. Analysis of data from the years 1991-2020, revealed that 1333 tornadoes were recorded across the US every year and 54% of them occurred in the months of April-June, as per a report on Fox. Historically, on an average, 294 tornadoes every year has been recorded in the month of May whereas April and June have averaged 212.

₹14.09 for Q4 which increased by 26.25% Y-o-Y. Coal India has delivered 2.26% return in the last 1 week, 46.96% return in last 6 months and 20.72% YTD return.

Hardeep Singh Nijjar have been arrested, the RCMP confirmed Friday.The RCMP took three Indian nationals into custody on Friday morning, almost a year after Nijjar was gunned down at the Guru Nanak Sikh Temple in Surrey, B.C.The suspects entered Canada on student visas but may have been working at the direction of Indian intelligence when they shot Nijjar, a source familiar with the matter said.Karanpreet Singh, 28, Kamalpreet Singh, 22, and Karan Brar, 22, have been charged with murder and conspiracy in Nijjar’s killing, according to B.C. court records.The offences were allegedly committed in Surrey and Edmonton, where the men were living and were arrested.

herbs and spices by increasing the maximum level of a pesticide residue allowed by 10 times, a move that activists say will make Indian spices unworthy of exports to some large markets. The Food Safety and Standards Authority of India (FSSAI) has raised the maximum residue limit (MRL) for a pesticide in herbs and spices to 0.1mg/kg from the earlier 0.01mg/kg. "...if the MRLs are not specified by the codex, then the MRL of 0.1 mg shall apply for spices and culinary herbs and spices," the regulator said in an order issued on April 8. It cited «various representations» for this upward revision in MRL.

general election season in India has been in peak summer since 1991, when temperatures soar so much that it's possible to fry an egg on an SUV bonnet. While some may glean schadenfreude (pleasure derived from another person's misfortune) in the Election Commission making cossetted politicians sweat it out for their place in the 18th Lok Sabha, summer polls provide the perfect opportunity to observe their election fashion statements and understand the timeless logic of Indianwear. The appropriateness of traditional desi garments becomes most blindingly evident in summer. A woman parliamentarian, who is the darling of the cosmopolitan set for her chic urban style and cutting articulation, becomes a cotton-encased Bharatiya Nari on the election trail. Handloom saree draped loosely and demurely covering her head, full-sleeved blouse encasing arms and midriff, only her outsized designer sunglasses set her apart from the similarly cocooned women listening to her campaign spiel. They are united in their battle against the unrelenting sun. Ditto for her male counterparts who tend to ditch their international fashion brands at election time to make common cause with the more vernacular style of hinterland habitues. Their sartorial preference veers towards long-sleeved, billowing cotton kurta-pajamas and, in many cases, voluminous headgear that serves both as insulation from the searing sun as well as a shade for the eyes. Even their footwear is focused on keeping toes cool and free from gravel.

Indian nationals linked to the murder of Sikh separatist leader Hardeep Singh Nijjar in the province of British Columbia in June 2023. Police added that the probe also includes investigating connections to the Government of India. The following is a timeline of important events that led to the arrests in a murder case that has strained relations between Canada and India. On June 18, 2023, 45-year-old Hardeep Singh Nijjar was shot outside a Sikh temple in Surrey, which is a Vancouver suburb known for its large Sikh population. He was a Canadian citizen who was advocating for the establishment of a separate Sikh homeland to be formed from India.

Serious Fraud Investigation Office (SFIO). Among the 24 individuals and entities listed as accused are Winsome founder Jatin Mehta, who had left the country before the mess surfaced, his wife Sonia and son Suraj, former employees, auditors, and the partner of a Dubai audit firm whose damaging testimony has helped the central agency build its case. Alleging that Mehta was the «brain and will behind the decisions of Winsome», the SFIO chargesheet (which ET has reviewed) charged the promoter, his family members, five companies, including Winsome, and others of criminal conspiracy to cheat the banks of Rs 4,258 crore, which is punishable under sections pertaining to cheating (420), breach of trust ( 409) read with criminal breach of trust (120(B)) of the IPC. Manipulation of books for carrying out fictitious transactions, related party and irregular derivatives deals ignored by auditors, and unauthorised investment in a group company constitute other charges under the post and amended Companies Act, 2013.

Congress leader Rahul Gandhi has decided to contest from Uttar Pradesh's Raebareli after «sensing defeat» in Wayanad. He also said that Congress' tally will not cross 50 and would be at an «all time low». «I have already said that Shehzada will get defeated in Wayanad. After completion of votes in Kerala, he is now contesting in Raebareli. Their senior leader (Sonia Gandhi) quit her Lok Sabha seat and entered Parliament through the Rajya Sabha from Rajasthan. They say 'daro mat' but I am saying 'arre daro mat, bhaggo mat' (Don't be scared, don't run away),» Modi said during his public rallies. «The Congress, with less than 50 seats, and the Trinamool with 15 seats in Bengal, will not be able to form a government at the Centre,» he said, adding, «The Congress will get less seats than before, they are contesting in lesser seats,» Modi said. The PM held three rallies in West Bengal — at Krishnanagar, Bardhaman and Bolpur — on Friday.

Air India announced on Friday that it will restart flight operations between Delhi and Tel Aviv on May 16. Due to tensions in the Middle East, the airline temporarily halted flights to and from Tel Aviv. In a post on X, Air India said it will resume «services between Delhi and Tel Aviv with five weekly flights from 16 May, 2024'.

The Department for Promotion of Industry and Internal Trade (DPIIT) plans to engage the National Council of Applied Economic Research (NCAER) to conduct a primary survey to assess cargo movement patterns and the cost of logistics for each component involved, they said. Last year, the think tank had estimated India's logistics costs in 2021-22 at 7.8-8.9% of the GDP, based on secondary data. «We will do another exercise along with the NCAER because the previous one was based on secondary data. This time, it will combine feedback and original surveys,» said an official, who did not wish to be identified.

Lipulekh, Limpiyadhura and Kalapani, already termed as «artificial enlargement» and «untenable» by India. «The meeting of the council of ministers chaired by Prime Minister Pushpakamal Dahal 'Prachanda' took a decision to print the new map of Nepal, which includes the Lipulekh, Limpiyadhura and Kalapani in the Rs 100 denomination bank notes,» government spokesperson Rekha Sharma told media persons while briefing about the cabinet decision. «The cabinet approved to re-design the banknote of Rs 100 and replace the old map printed in the background of the bank note during the cabinet meetings held on April 25 and May 2,» Sharma, who is also the Minister for Information and Communication, added.

healthcare system grapples with fragmented patient data, leading to suboptimal care outcomes as providers often lack access to medical histories. However, the Ayushman Bharat Digital Mission (ABDM), initiated in 2021, has the potential to revolutionise this scenario by: Providing unique health IDs, ABHA (Ayushman Bharat Health Account), to individuals. Establishing verified registries for hospitals and healthcare providers.