BUSINESS
Indian Economy Sees Over 4-Fold Increase in New Jobs from 2004-14 to 2014-23: SBI Report
According to an SBI report, prepared from RBI data by its Economic Research Department, during FY14-FY23 and FY04-FY14, the manufacturing and services sectors alone contributed to about 8.9 crore and 6.6 crore jobs respectively, alike in exclusion of agriculture.
Milestone Achieved: Telecom Equipment Manufacturing Surpasses Rs 50,000 Crore Under PLI Initiative
Companies that are beneficiaries under the PLI have seen exponential growth in sales of telecom and networking products by 370 percent in FY2023-24 over the base year FY 2019-20. More importantly, the gap between the concerned imports and exports of telecom has also come down, with total exports of telecom equipment and mobiles crossing Rs 1.49 lakh crore, marginally higher than imports of Rs 1.53 lakh crore in FY 23-24, data from the government showed.
India and Russia Aim for $100 Billion Trade Goal by 2030, Advance Free Trade Agreement: Foreign Secretary
In the financial year ending March 2024, trade between India and Russia touched $65.7 billion—up 33% over the previous year. He mentioned now development of 'Make in India' and creating manufacturing partnerships as part of their bilateral priorities.
RBI Reports Surge in Job Creation: Over 46.6 million New Jobs Added in 2023-24
The KLEMS database of the RBI on inputs to production—Capital, Labour, Energy, Materials, and Services—cuts across 27 industries, classified into six sectors. All in all, they offer a pretty good view of the economy. For the first time, overall productivity for FY24 has also been provisionally estimated by RBI, based on available data, with improvements in labor quality being driven by educational attainments of workers.
Anand Mahindra Showcases Innovative Infrared Technology for Vein Detection
Touting the importance of this invention, Mahindra said that all too often, it is the simplest, most humble kind of inventions that go on to do so much for our medical experience—and hence, to better the quality of our lives.
FM Sitharaman to Unveil Union Budget on July 23
In a statement, the Minister of Parliamentary Affairs confirmed that "Hon'ble President of India, on the recommendation of the Government of India, has approved the proposal for summoning of both the Houses of Parliament for the Budget Session, 2024 from 22nd July 2024 to 12 August 2024 (Subject to exigencies of Parliamentary Business). Union Budget, 2024-25 will be presented in Lok Sabha on 23 July 2024."
FM Sitharaman to Unveil Union Budget on July 23
In a statement, the Minister of Parliamentary Affairs confirmed that "Hon'ble President of India, on the recommendation of the Government of India, has approved the proposal for summoning of both the Houses of Parliament for the Budget Session, 2024 from 22nd July 2024 to 12 August 2024 (Subject to exigencies of Parliamentary Business). Union Budget, 2024-25 will be presented in Lok Sabha on 23 July 2024."
India's April-June Quarter: Surge of 501 Deals Worth $21.4 Billion Fueled by Political Stability
On the other hand, M&As combined with PE deals came up to 467 transactions valued at $14.9 billion, marking a 9% rise in transaction volumes. This increase was largely driven by four big-ticket transactions by the Adani Group in the industrial materials and ports sectors, which contributed 52% of the total M&A values for the quarter.
MSME Employment Surges: Exceeds 20.2 Crore, Up by 66% from Previous Year
As of now, 46.8 million MSMEs are registered under Udyam. Out of these, 46 million are micro-enterprises, which are really contributing to the bulk of employment. A micro-enterprise shall be an enterprise in which the investment in plant and machinery or equipment does not exceed one crore rupees, and the turnover does at all not exceed five crore rupees.
India Secures 3rd Place in Global Fintech Funding for First Half of 2024
In 2024, one unicorn, Perfios, emerged, flanked by six acquisitions and five initial public offerings in the space of Fintech from January to June alone.
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