India Financial News

«This is the first time independent India has seen such impetus or focus on developing infrastructure, both from the government and the private sector, such as road network, improvement of stations, world class airports, sports stadiums, convention centers,» said Mandeep Lamba, president and CEO, South Asia, HVS Anarock, while moderating the session. Tourism in India grew 300% YoY in 2023, said MakeMyTrip executive officer Rajesh Magow. «We have to create awareness and change the perception of the country, because people (tourists) also worry about security and safety.» Tourism in India is only at 85% of what it was in 2019 before the Covid pandemic hit, he said.

Marc-Andre Blanchard, executive vice president and global head of sustainability at CDPQ, one of the biggest global investors in infra-related assets in India. «When we talk about ESG and sustainability, we're really talking about good management and value creation,» Blanchard said. «As a pension fund, we are driven by the desire to build businesses that drive performance and progress. For us, capital takes on its full value when it generates positive change.» The Canadian leader stated that CDPQ is a global investment group with over $452 billion in assets under management, including 12% in the Asia-Pacific region. What sets CDPQ apart is its dual mandate: generating returns for its depositors-representing over 6 million Quebecers-while contributing to Quebec's economic development. CDPQ is also Canada's second-largest pension fund, he said.

And before it could sink in, she was screaming again, “He has broken it again.” Malik was talking about Sumit Antil, who broke his own world record in javelin throw (F64) three times in 45 minutes to win gold at the Tokyo Paralympics in 2021. Last year, he set a new world record with a 73.29m throw to win gold at the Hangzhou Asian Para Games. Antil now aims to repeat the ‘world record-gold medal’ double at the Paris Paraplympics. Expectations will be high when enters the Stade de France tonight for the final. “He is going for gold. And perhaps with a world record throw,” said Satyanarayana Shimoga, head coach of the Indian track and field team.

air taxis in the world and the launch in 2026 will revolutionise urban travel, said Nikhil Goel, chief commercial officer, Archer Aviation. Archer is a California-based EVTOL company Archer Aviation. EVTOLs, or air taxis, take off and land vertically, just like a conventional helicopter. But since they're electric, they produce less emissions and are potentially much quieter. Archer's Midnight is a 4-seater aircraft, which can carry four passengers and a pilot for up to 160 kilometres. «While cities are getting more populated, our transportation options are degrading. That burden is particularly profound right here in India and that is what we are looking to address. I am confident that India will be not only be one of, but perhaps the largest market for electric air taxis in the world,» Goel said at the ET World Leaders Forum. Archer has tied up with InterGlobe Enterprises, which is the owner of India's largest airline, IndiGo, credited with making air travel more affordable in India. The US company plans to replicate the IndiGo model for its air taxi services — increase trip volume and reduce overall cost by achieving economies of scale. India is the third country besides the US and UAE where Archer plans to start operating. Archer will look to cater to passengers of IndiGo for their journey to and fro airport. IndiGo carries around 90 lakh passengers per month.

Prime Minister Narendra Modi said the current decade is a “lift-off ” phase for India in which the country has to move forward with the mantra of reform, perform and transform to take a giant leap toward achieving big goals. He emphasised that the aspiration of all Indians to see the country become a global manufacturing hub, leading to all-round prosperity, will become a reality. Delivering the keynote address at The Economic Times World Leaders Forum on Saturday, the PM said, “The third decade of the 21st century represents a ‘lift-off ’ decade for Bharat. How will this happen? Who will benefit? We are the ones making it happen, and it will benefit everyone—the entire country.” Modi said India is the land of biggest opportunities today and the government is supporting every effort. “We are poised to take a giant leap forward, and to do so, we are working with a long-term vision,” he added.

India's growth is driven by investment in infrastructure, inclusive development, manufacturing, and simplification of laws, said Ashwini Vaishnaw, union minister for electronics and information technology, information and broadcasting, and railways. When it comes to infrastructure, the government is investing not just in physical and digital assets but social resources as well, he said at the Economic Times World Leaders Forum on Saturday. Medical colleges for example have nearly doubled to 706 in the last 10 years, while the number of premier All India Institutes of Medical Sciences (AIIMS) have gone to 22 from seven, he said Vaishnaw. On the manufacturing side of things, a key driver of new jobs, Vaishnaw said the government is focusing on creating new industries through programmes such as production-linked incentive (PLI) schemes. The PLI for mobile phone manufacturing has generated 1.2 million direct and indirect jobs in the past decade, he said. The total production value of mobile phones manufactured in India has risen from $2.3 billion in 2014 to $50 billion in 2024, he said.

«The regulators and government are balancing a lot of things, some of which we are not privy to… I don't see a challenge with this issue of market share because there are a large number of players operating and there is scope for everyone,» he said. Kenghe, who helms Google Pay in India and Asia Pacific region, was in conversation with ET's Samidha Sharma at the ET World Leaders Forum on Saturday.

Banijay Asia plans to invest $50 million (over Rs 400 crore) in a «first-of-its-kind» reality series tentatively titled 'Race to Space', making it India's most expensive television show, sources close to the development said. The investment will cover the licensing fee to the US-based Space Exploration and Research Agency (SERA) as well as production and talent costs, they added. Industry watchers said 'Bigg Boss Hindi', hosted by Bollywood star Salman Khan, is currently the country's most expensive non-fiction show, with budgets exceeding Rs 150 crore. «Given the scale and scope of the project, this is not just a documentary series or just a reality series — it is a 'space programme',» Banjay Asia CEO Deepak Dhar said. The new reality format will revolutionise competitive reality television and rekindle interest in space exploration, he added. Expressing optimism about the show's success in India, SERA co-founder Joshua Skurla cited the interest in last year's Chandrayaan-3 moon landing live-stream.

Usha Chilukuri Vance loves her «meat and potatoes» husband, JD Vance. She explained to a rapt Republican National Convention audience how their vice-presidential candidate adapted to her vegetarian diet and even learned to cook Indian food from her immigrant mother. That image of her white, Christian husband making the spicy cuisine of her parents' native state in South India is atypical for the leaders of a party whose members are still largely white and Christian. Her presence at the RNC sparked enthusiasm on social media among some Indian American conservatives, particularly Hindu Americans, although most Indian Americans identify as Democrats. But for all Usha Vance shared about their identity-blending marriage in her speech last month in Milwaukee, which was a little over four minutes, she made no mention of her Hindu upbringing or her personal faith and their interfaith relationship — biographical details that have exposed her to online vitriol and hate.

«Those who have climbed the ladder of power by using hatred as a political weapon are continuously establishing the reign of fear across the country. Hateful elements hidden in the form of mobs are openly spreading violence, challenging the rule of law,» said Rahul Gandhi in a post on X. Further talking on the incident, the LoP said attacks on minorities, especially Muslims, are continuing and the government machinery is watching as a mute spectator.

RBI is poised to roll out its next major financial innovation, a technology platform that enables 'frictionless credit'. The platform, proposed to be called Unified Lending Interface (ULI), aims to facilitate a seamless and consent-based flow of digital information, including land records, to lenders from multiple data service providers. This, Das added, would reduce the time required for credit appraisal, particularly for smaller and rural borrowers. Coincidentally, his statement comes at a time when the account aggregator (AA) framework — created by the market-led industry alliance Sahamati and launched three years ago by RBI — has logged a record 100 mn consents. AA is using a framework like ULI to shift away from collateral-based lending to one premised on cash flows, addressing the formal credit needs of millions of underserved Indians. In short, India is poised to roll out another initiative to democratise access to credit. In the last decade, India banked the unbanked, whereby 80% of adults today own a bank account. Now, by seeking to enable universal lending, RBI is breaking down barriers to provide financial resources to a broader spectrum of borrowers. The impending convergence of fintech and AI will only accelerate this trend of serving the underbanked.

ET World Leaders Forum on Saturday, Prime Minister Narendra Modi assured business of a stable policy environment to facilitate innovation. Policy facilitation and business disruption will, indeed, be required in equal measure to accelerate India's development over the next two decades to capitalise on its demographic dividend. Indian companies need to grow much faster than they are accustomed to, so that the economy makes productive use of its immense work force.

Sheetal Devi has left everyone impressed with her expectional skills who made her debut at the world's biggest sports stage this year. Sheetal, who displayed a stunning performance in the qualification of Women's Individual Compound Archery by breaking the previous World Record of 698 by shooting 703 points out of a possible 720 for a second-place finish, lost to Chile's Zuniga Mariana by 137-138. Such a narrow margin prevented her from going into the knockout stages. Read more: Meet Sheetal Devi, Indian archer who became a Para archery sensation against all odds

northern India. Air pollution is back on the agenda. Last week, the Supreme Court criticised air pollution boards of Delhi/NCR, Punjab and Haryana for being 'ineffective' due to inadequate staffing.

walking is also an extreme sport. We are not alone. Huzzah! Athenians have taken to social media to demonstrate how navigating their 'mean streets' is more like competing in an obstacle course.

Sudha Murthy on Sunday said although she has read a book set in Parliament way back in the 1980s, about Shyama Prasad Mukherjee, since so much has changed about India and the Parliament since then, that she would not mind writing about it. «Although, I have to finish my term as a Rajya Sabha member first, before I could attempt to do that,» said Murthy on Sunday. Murthy was in conversation with fellow author and actor Twinkle Khanna, at the celebration of the launch of her 300th book title — and 46th book — 'Grandpa's Bag of Stories' here. The event was organised by Bengaluru-based Lit Spirit Foundation. But in her immediate list of wishes is a book on 'shlokas' that her grandfather used to recite, she said.

Nitesh Kumar secured a medal in men's singles SL3 category after a commanding straight-game win over Japan's Daisuke Fujihara in the semifinals at the Paris Paralympics on Sunday. The 29-year-old Nitesh, who overcame permanent leg damage from a 2009 accident, showed his dominance with a 21-16 21-12 win over Fujihara in a 48-minute semifinal. The IIT Mandi graduate thus ensured that India return with a medal from the SL3 category, after Pramod Bhagat clinched the gold when para badminton made its debut three years ago in Tokyo. SL3 class players, like Nitesh, compete with more severe lower limb disabilities, requiring play on a half-width court.

big screen to surprising success — from the 2012 hit "Gangs of Wasseypur" full of blood, gore and revenge to the romantic «Laila Majnu» that had a lacklustre run when it was first released in 2018. According to trade experts and exhibitors, this is a good way to fill up the halls and recover money as those who loved watching these movies or missed them at the time of their release seem keen for the big screen experience. «It's beneficial for exhibitors, and whoever holds the right to the film also earns money. For instance, when 'Laila Majnu' and 'Rockstar' were released, they didn't do well but this generation loved these films. »The average occupancy for 'Laila Majnu' was 40 per cent all over India. In some properties in Mumbai, it registered over 80 per cent occupancy," trade analyst Atul Mohan told PTI, adding that he is confident that «Gangs of Wasseypur» will be immensely loved.

NCP (SP) president Sharad Pawar on Sunday said the opposition won't sit quietly till the Mahayuti dispensation in Maharashtra is dislodged from power in the next two months and a new government is formed on the ideals of Chhatrapati Shivaji. Addressing party workers at Ghatkopar in Mumbai, Pawar slammed the state government over the collapse of the statue of the legendary warrior king in Sindhudurg district on August 26. He said those in power in the state have no «faith» in Shivaji Maharaj. «I assure you (party workers) that if you show your unity, then we will not sit quietly till the government in Maharashtra is changed in the next two months and a new government is formed on the ideals of Shivaji Maharaj that will safeguard the interests of people,» Pawar said.

FMCG maker Tata Consumer Products Ltd (TCPL) has merged its three wholly-owned subsidiaries after getting approval from NCLT and other regulatory clearances. TCPL has merged its wholly-owned subsidiaries Tata Consumer Soulfull Pvt Ltd, NourishCo Beverages Ltd, and Tata SmartFoodz Ltd with the company, according to a statement from Tata Group FMCG arm. «We wish to inform you that the conditions outlined under Clause 17 of the Scheme, including the filing of certified copies of the order with the Registrar of Companies, of the respective companies, in Form INC-28, have been duly completed. Accordingly, in terms of the Scheme, the effective date of the scheme (of merger) is September 1, 2024,» the company said in a regulatory filing. This is in line with the company's focus on simplifying and streamlining the business. This consolidation of legal entity structure will unlock efficiencies and synergies, it added.

photography. Shreyovi Mehta, a Class Five student from Faridabad near Delhi, has now bagged the much-coveted Wildlife Photographer of the Year award. Shreyovi managed to capture the photo of a pair of peafowls, while she was on a morning walk in the forests of Keoladev National Park in Bharatpur, Rajasthan.