BUSINESS
India Joins Top 6 Global Ranks as Patent Filings Double in Last 5 Years
For the first time, India has taken the top 10 countries of the world on the back of three major intellectual property rights-patents, industrial design applications, and trademark applications. Patent filing in India showcased its fifth consecutive year of double-digit growth rate.
Vistara-Air India Merger Takes Flight, Group Set to Operate 300 Aircraft
Post-merger, Air India Group will operate a combined fleet of 300 aircraft covering 55 domestic and 48 international destinations, with 312 routes and 8,300 flights per week. The collective staff strength stands at over 30,000 now.
India's Public Sector Banks Record 11% Growth, Reaching Rs 236 Lakh Crore in H1 FY25
India's overseas credit and deposit portfolio increased by 12.9% and 9.5% year on year, respectively, and had reached Rs 102.29 lakh crore and Rs 133.75 lakh crore, said a statement issued by the Ministry of Finance.
India's Industrial Production Grows by 3.1% in September
According to an official statement, the top three positive contributors in the manufacturing sector for September 2024 are - 'Manufacture of coke and refined petroleum products' with 5.3 per cent, 'Manufacture of basic metals' with 2.5 per cent, and 'Manufacture of electrical equipment' with 18.7 per cent.
India-Russia Bilateral Trade Sees Five-Fold Increase, Says Russian Deputy PM
Co-chairing the 25th session of the India-Russia Intergovernmental Commission in New Delhi with EAM S. Jaishankar, Manturov further raised the issue of widening the interaction between Indian and Russian banks, underlining that at present already the share of settlements in national and alternative currencies has almost reached 90 per cent.
Property Purchase Time in India Drops to 26 Days, Ultra-Luxury Homes Selling Faster
The ultra-luxury homes, which come priced above Rs 3 crore, saw the lowest conversion time - 15 days in H1 FY25. In the last fiscal (FY24), it was 22 days, reducing by a whole week according to data coming from realty analytics firm Anarock Group.
Vistara Operates Final Flights as Merger with Air India Takes Off on Tuesday
The Air India Group has said, in a statement, that Vistara flights will thereafter begin operating under the flight code 'AI2'.
LIC's New Premiums Jump 22.5% to Reach ₹1.33 Lakh Crore in Current Fiscal Year
In the Individual Premium, LIC had garnered Rs 33,204.36 crore during the first seven months of FY25, which is up by 13.58% as against Rs 29,233.73 crore recorded during the same period last year. The Group Premium however increased much steeper at 25.79%, to Rs 97,947.05 crore from Rs 77,864.69 crore of the previous year.
Gold Prices Drop to Rs 77,000 per 10 Grams; Silver Falls Below Rs 91,000 per Kg
According to IBJA, 24-carat gold prices dropped to Rs 77,030 per 10 grams. 22-carat gold price stands at Rs 75,180 per 10 grams and 20-carat gold is available at Rs 68,550 per 10 grams.
India's Steel Exports Record Double-Digit Growth in October
The country's steel exports increased to 4.4 million tonnes in October, as compared to 4 lakh tonnes in September. Simultaneously, imports declined, which would help steel companies fetch better prices for their products in the third quarter, said a senior official.
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