BUSINESS
July Sees Surge in Electronics, Dairy, and Poultry Exports: Report
The Crisil report points out that electronic goods soared by 37.3%, while meat, dairy, and poultry products surged by 56.2%, and oil meals shot up by 22%. On the other sectors' front, readymade garments, spices, and tea have also shown strong export growth. In readymade garments, it went up by 11.8%; in spices, it rose by 13%, and in tea by 21.8% on a year-on-year basis.
Foxconn's Indian Investments Surpass USD 10 Billion; Total Commitment Hits USD 1.4 Billio
Foxconn, one of Apple Inc.'s major suppliers, has pledged $1.4 billion to India so far, with more in the pipeline.
Foxconn to Put Up Battery Energy Storage System Unit in India
Liu said that Foxconn's information and communication technology segment has just now reached India.
Seven of Top 10 Valued Firms Add ₹1.40 Lakh Crore to Market Valuation; TCS and Infosys Lead the Gains
The BSE Sensex added 730.93 points, or 0.91 per cent, in the week on the back of a strong rally in its last session.
India will need more reforms to stay on growth path, create jobs, says Gita Gopinath
"The significant improvements made by the government over the years in terms of structural reforms," Gopinath said. She also pointed that despite the current global environment when the world is questioning trade integration, it was important for India to be open to the global trade.
FPIs Divest Rs 32,684 Crore in Equities, Invest Rs 11,483 Crore in Primary Market
This may continue even if the market turns more optimistic on the back of reduced fears of a U.S. recession. According to Vipul Bhowar, Director Listed Investments at Waterfield Advisors, "Global concerns about the unwinding of the Yen carry trade, potential global recession, slowing economic growth, and ongoing geopolitical conflicts have all contributed to market volatility and a rise in risk aversion.".
UAE Merchants Embrace Rupee via UPI to Attract Indian Shoppers
It will be directly cut from the user's bank account in India, so it would then become easy for Indian citizens and NRIs to shop in the UAE using UPI in Rupees. Since its implementation in the beginning of July, many more merchants—big and small—started to accept UPI payments here in the UAE. QR-code-based payments are accepted through Point of Sale machines.
Indian Startups Raise $395 Million This Week, Marking a 350% Surge
Wealth and asset management firm Neo on Tuesday said it raised Rs 400 crore or around $48 million in a Series B round led by MUFG Bank and New York-based Euclidean Capital LLC.
IMF's Gita Gopinath Optimistic About India's Economic Growth Prospects
It is projected that by the end of the decade, India will have assumed its place as the fifth-largest economy in the world and be well on its path to taking a place in the top three global economic powers.
Government Eases FDI Regulations to Facilitate Indian Companies' Global Growth Through Mergers and Acquisitions
Officials said the new rules would strengthen global access for Indian businesses and greatly enhance the ease with which mergers, acquisitions, and other strategic moves can be made for new markets, thereby increasing international footprints. "In pursuance of the Union Budget 2024-25 announcement made by Union Minister for Finance and Corporate Affairs Nirmala Sitharaman to simplify rules and regulations for Foreign Direct Investment and Overseas Investment, as one of the initiatives, the Department of Economic Affairs (DEA), Ministry of Finance, has amended the Foreign Exchange Management (Non-debt Instruments) Rules, 2019, vide notification dated 16.08.2024."
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