Despite global economic headwinds and deepening geopolitical uncertainties, the forex reserves are at record all-time high levels and are set to cross $700 billion in FY25 sooner than expected. According to a latest note by global investment firm Jefferies, RBI's forex reserve is estimated to go up by a massive $53 billion to reach $700 … Read more
In a mega push, the Prime Minister Narendra Modi-led government has approved infrastructure projects worth Rs 3 lakh crore in the first 100 days of its third term. Overall, the government plans Rs 15 lakh crore in infrastructure investments to boost connectivity, facilitating economic growth and job creation. PM Modi has set out a broad … Read more
Foreign portfolio investors (FPIs) bought equities in the Indian stock market worth Rs 16,800 crore this week, taking the total buying to Rs 27,856 crore this month (till September 13). As per NSDL data, FPIs were buyers of equity in the cash market on all days of the week. Industry watchers said that it is … Read more
The Indian biotech startups took centre-stage with unveiling 11 products at the ‘Global Bio-India 2024’ that showcased the country’s emerging talent in biosciences, it was announced on Saturday. The fourth edition of the event, organised by Department of Biotechnology (DBT) in the national capital, concluded after showcasing India’s biotech prowess. The theme highlighted the potential … Read more
At least 24 domestic startups secured more than $229 million in funding this week, which included six growth-stage deals worth $182.65 million. The week saw 13 early-stage deals worth $46.14 million. Overall, Bengaluru-based startups led with eight deals, followed by Delhi-NCR, Mumbai, Hyderabad and Kolkata, as per industry data. The funding momentum was led by … Read more
The stock markets hit a new high this week as the rate-cut optimism globally has provided a positive impetus across the global markets, industry watchers said on Saturday. The European Central Bank (ECB) this week lowered its deposit rate by 25 basis points to 3.50 per cent to boost tepid growth. The US Federal Reserve … Read more
As India's forex reserves jumped $5.2 billion to a fresh all-time high of $689.24 billion, industry experts said on Saturday that this will create external sector resilience and boost economy across sectors. According to the weekly data by Reserve Bank of India (RBI), foreign currency assets (FCAs) grew by $5.10 billion to $604.1 billion (week … Read more
The Agricultural and Processed Food Products Export Development Authority (APEDA) under the Ministry of Commerce and Industry on Thursday announced partnership with global retail chain LuLu Group International (LLC). As part of the Memorandum of Understanding (MoU) signed LuLu Group will showcase a wide range of certified Indian organic products in its stores across … Read more
Union Commerce and Industry Minister Piyush Goyal on Friday reaffirmed the government’s commitment to drive economic growth through robust partnerships with state governments. Chairing the third meeting of the reconstituted Board of Trade here, the minister emphasised that government initiatives are instrumental in guiding India towards a more transparent, efficient, and sustainable trade environment, benefiting … Read more
India's foreign exchange reserves extended their winning run for a fourth straight week to hit a record high of $689.24 billion as of Sept. 6, data from the central bank showed on Friday. The reserves rose by $5.3 billion in the reporting week, after having risen by a total of $13.9 billion in the prior … Read more
