Country Financial News

(Reuters) — China has instructed heavily indebted local governments to delay or halt some state-funded infrastructure projects, three people with knowledge of the situation said, as Beijing struggles to contain debt risks even as it tries to stimulate the economy.

Maharashtra has recorded the highest number of variant cases at 320 followed by Karnataka at 234. Andhra Pradesh recorded 189 JN.1 cases while Kerala registered 156 cases of the variant.

Union Education Minister Dharmendra Pradhan on Friday said that almost all states are implementing the National Education Policy 2020. He said that even the states that seem reluctant are indeed implementing the policy although they are using different terminology.

Boeing has reassured India that there will be no substantial disruptions in aircraft deliveries to the country. A senior executive at Boeing, Darren Hulst, the Vice President for Commercial Marketing, conveyed this message on Friday, seeking to allay concerns surrounding potential delays. At the "Wings India" air show held in Hyderabad, Darren Hulst underscored Boeing's commitment to prioritize the quality of aircraft over sheer numbers in the Indian market.

By Summer Zhen and Samuel Shen

Also Read: Budget 2024 brew: Alcobev players pitch for uniform tax, excise duty cuts; ENA price relief, input tax credit hold key The Gem & Jewellery Export Promotion Council (GJEPC), representing India’s global gem & jewellery trade, has proposed several recommendations to the government ahead of the upcoming budget. “Gem and Jewellery exports have been facing a challenging time on account of the economic downturn in key export markets, geo-political concerns, supply and demand side constraints in the global diamond industry, and unavailability of precious metal in the country among others.

made-in-India chip will be out by December, Union Minister Ashwini Vaishnaw said here, crediting Prime Minister Narendra Modi for developing a very strong semiconductor industry in the country in a short span of time with focus on the entire ecosystem. Speaking to PTI at the World Economic Forum Annual Meeting 2024, the minister said PM Modi launched a semiconductor policy in January 2022, adding that when he met senior representatives of the industry here, the one thing they all were surprised about was how this much work could be done in such a short time. «They all appreciated the policy and the fact that PM Modi has always stressed on creating a comprehensive ecosystem because not many countries have this kind of policy and therefore they could not get such success,» he said. The Minister for Communications as well as Electronics and Information Technology said the prime minister has always focussed on developing an ecosystem where there is a lot of focus on talent. «MoUs (Memoranda of Understanding) with 104 universities are already in place, their course curriculum are being revised, there is a lot of focus on design with a separate investment scheme. »Many design companies have got the benefit and they are gradually coming up in the value chain.

Union Budget 2024: India is making strides on global platforms ranging from local production boost to attracting foreign companies to shifting supply chains from rival China as it harbors dreams of becoming the third largest economy. The women of modern India have largely breached the patriarchal walls and are joining the workforce at a moment when Bharat is also seeing a paradigm developmental shift. Read our full Budget 2024 coverage here In today’s Narendra Modi-government-led India, the Nehruvian philosophy of asserting the condition of a nation by looking at the status of its women is still true and perhaps it will forever be valid. World Bank data shows India’s female labour force participation rate was 19.2% in 2021, contributing 17% of the country’s gross domestic product (GDP), which is relatively low for a nation dreaming of becoming a $5 trillion economy by 2025. The International Monetary Fund (IMF) stated that achieving gender equality in India, meaning equal participation of women in the labor force as men, could potentially elevate India's GDP by 27%. According to the World Bank, Indian women contribute to the economy at 17% of GDP, which is less than half of the global average. If approximately 50% of women could join the workforce, India might increase its growth by 1.5 percentage points, reaching 9% annually.

Ram Mandir Opening: Is January 22 a bank holiday? Check here Several politicians, industrialists, sportsmen, and celebrities have been invited to the Pran Pratishta ceremony which will also see Prime Minister Narendra Modi in attendance. Among the other industrialist invitees include Mukesh Ambani, Anil Ambani, Ratan Tata, Gautam Adani and TS Kalyanaraman, MD of Kalyan Jewellers.

₹370 were higher compared to ₹357 in the previous quarter and ₹359 in the year ago quarter. The quarter also saw some moderation in raw material costs. Though demand in certain pockets and regions saw temporary impact due to state elections, labor availability in festive season, rains and floods in the South India, and construction bans in Delhi NCR and some other regions to curb pollution.

Do Kwon’s lawyer has argued that Terraform Labs’ co-founder should be extradited to South Korea and not the United States. The statement comes as a response to extradition requests from both countries, with Kwon currently in detention in Montenegro.

Hyundai Motor India on Friday said it has completed the acquisition of General Motors India's manufacturing plant at Talegaon in Maharashtra. The country's second-largest carmaker also announced that it will invest Rs 6,000 crore in Maharashtra as part of an agreement inked between the company and the state government in Davos. The acquisition of the Talegaon facility has been completed after the fulfilment of certain conditions and the receipt of regulatory approvals from relevant government authorities and relevant stakeholders, Hyundai Motor India said in a statement.

NDRF has decided to observe 2024 as the year of chemical, biological, radiological and nuclear (CBRN) preparedness and response and will undertake training and exercises to attain better capability to deal with such disasters, Director General of the force Atul Karwal said Friday. He was speaking at the Vigyan Bhawan here during the 19th raising day of the federal contingency force.

India is attracting increased attention of global businesses and they have an important role to play in bringing additional investments over and above domestic resources. India wishes to be an important part of global supply chains and is also seeking investments to shore up domestic capability in sectors like semi-conductors, IT and telecom equipment, defence manufacturing, medical equipment, etc. Well-established global corporations in these areas could help bridge the gap in a short period of time. They bring in knowledge and technology, which otherwise can take a long time to develop. The interim budget would be presented in the midst of positive tailwinds for India like geo-political alignment, stable macro-economy (exchange rates and interest rates under control), 100% FDI allowed in most sectors and the Government’s aspiration of making India a developed country by 2047. Despite the tailwinds, the pace of growth in Gross FDI has moderated after touching a high of USD 85 Billion in FY 22. The sentiment however remains strong given that India’s growth is likely to sustain over the long run. The attractiveness of the Indian market together with an easy and competitive business environment can India an unbeatable proposition for global companies. The interim budget can be leveraged to give this message, especially given that investments decisions are made constantly and there are other countries competing with India to attract FDI.

Ram temple consecration ceremony scheduled in Ayodhya, as per an order issued by the Ministry of Finance on January 18, The order specifies a half-day closing, effective until 2:30 PM, for Central Government Offices, Central Institutions, and Central Industrial Establishments on January 22, 2024. The Department of Personnel and Training (DOPT) has also released an order allowing employees to participate in the 'Pran Pratishtha' celebration.

Andaman and Nicobar Islands between 19 to 24 January, and over northeast and adjoining east India during second half of the week. -Under the influence of Western Disturbance, moderate rainfall/snowfall are likely to occur over Western Himalayan Region and over plains of northwest India on some days between 25 to 31 January.

Investing.com-- Oil prices moved little in Asian trade on Friday, but were set for some gains this week as optimistic demand forecasts and output disruptions in the U.S. helped offset fears of slowing economic growth and high interest rates.

₹700 crore, has held talks with strategic and financial investors, three people with knowledge of the development said. “The company has not been able to scale up beyond the initial traction it saw. Merging with a larger player seems to be on the cards," the first person cited above said on condition of anonymity as the talks are private.

NEW DELHI : Japan International Cooperation Agency (JICA), the country’s development aid agency, is working with India on a roadmap to reduce carbon emissions in the power sector, Saito Mitsunori, the chief representative of the agency’s India Office said. JICA is also in talks with the central and state governments to fund more projects to improve connectivity with Bangladesh, Nepal and Bhutan, Mitsunori said.

Japan is set to attempt a soft landing on the moon's surface with the Smart Lander for Investigating Moon early Saturday morning (January 20). The country seeks to join the exclusive club of nations achieving a successful soft landing on the moon. The United States, Russia (erstwhile USSR), China, and India have accomplished this feat, leaving Japan eager to overcome its exclusion.

NEW DELHI : India will not negotiate on any farm issue at the World Trade Organization (WTO) until the body finds a permanent solution to the issue of public stocks of foodgrains, a government official said, signalling a hardening of position ahead of the world body’s next ministerial meeting. India wants the matter settled as it prepares for the WTO’s 13th ministerial meeting in Abu Dhabi from 26-29 February. The ‘ministerial’ is the highest decision-making forum at the 164-member rule-setting body.