Union Bank of India sets up mechanism for India-Malaysia trade in INR
Apr 01, 2023, at 09:17 pm
New Delhi: Public sector Union Bank of India has operationalised the mechanism to allow Indian and Malaysian traders to invoice and settle the trade in Indian Rupee (INR).
Mar 31, 2023, at 04:24 am
Kolkata: The US Consulate Kolkata collaborated with KIIT Technology Business Incubator to host a three-day 'Regional Startup Network (RSN)' advanced workshop at the American Center, starting on Thursday, to build entrepreneurial capacities of select startups from India, Nepal, Bhutan, and Bangladesh.
Russia's Rosneft and Indian Oil Corp ink deal to boost oil supply and diversify grades
Mar 30, 2023, at 05:42 am
Moscow/IBNS: Rosneft, the Russian energy company, revealed a new agreement Wednesday to increase its oil exports to India, in an effort to find alternative markets due to the strained relations with Western countries over the Ukraine conflict.
Mar 12, 2023, at 10:52 pm
New Delhi: India’s Minister of Commerce and Industry Piyush Goyal and Australia’s Minister for Trade and Tourism, Senator Don Farrell on Saturday met when they discussed implementation of the Economic Cooperation and Trade Agreement (ECTA).
PM Modi, Sheikh Hasina to launch cross-border fuel pipeline on March 18: Report
Mar 11, 2023, at 02:14 am
New Delhi: Prime Minister Narendra Modi and his Bangladeshi counterpart Sheikh Hasina will launch the first-ever India-Bangladesh cross-border oil pipeline on March 18 through video conferencing, Bangladesh's Foreign Minister A K Momen said on Friday, media reported.
Apple plans to make India its sales engine amid record revenues in the region: Report
Mar 10, 2023, at 01:17 am
iPhone maker Apple is focussing on India as its priority region amid a significant increase in demand for Apple products in the country. The plans include the elevation of its head of India and making the country sales engine for Apple, media reports said.
iPhone maker Foxconn plans to invest $700 mn in Bengaluru plant in a shift from China: Report
Mar 04, 2023, at 02:37 am
Apple’s partner Foxconn Technology Group intends to invest approx. $700 million to set up a new manufacturing facility in India to increase local production, highlighting the increasing trend of shifting manufacturing away from China due to escalating tensions between Washington and Beijing, Bloomberg reported.
Mar 01, 2023, at 07:20 am
Apple’s Chinese suppliers may move their capacity out of the country at a quicker rate than expected, to avoid the negative consequences of increasing tensions between Beijing and Washington, according to one of Apple's top partners, Bloomberg reported.
Essar launches EET to invest US$3.6 billion in energy transition in UK and India
Feb 27, 2023, at 07:40 pm
London/IBNS: Essar Group, invested in Energy, Metals and Mining, Infrastructure and Technology sectors, on Monday announced the formation of Essar Energy Transition (“EET”) to drive the creation of the UK’s leading energy transition hub in North West England.
MeitY seeks proposals to estimate India's digital economy
Feb 23, 2023, at 06:02 am
New Delhi: The Indian government is looking to estimate the size of the country’s digital economy and in this regard the Ministry of Electronics and Information Technology (MeitY) invited proposals, media reports said.
ADB president Masatsugu Asakawa meets PM Modi, proposes $25 billion for India's development projects
Feb 23, 2023, at 04:41 am
New Delhi/IBNS: Asian Development Bank President Masatsugu Asakawa on Tuesday met Prime Minister Narendra Modi and conveyed ADB's intention to provide $20-25 billion resources over five years to advance India's aspirations for fast, inclusive, and green growth.
SBI launches BHIM SBIPay for Singapore-India fund transfers after UPI-PayNow linkage
Feb 23, 2023, at 01:21 am
Mumbai/IBNS: The State Bank of India (SBI), India’s largest lender, will facilitate funds transfer to Singapore through its SBI's BHIM SBIPay mobile application, the bank said on Wednesday.
India-Australia business community hosts influencers, bilateral leaders from both nations
Feb 17, 2023, at 05:25 am
The India Australia Business & Community Alliance (IABCA) marked ten years of continued collaboration by hosting its first-ever IABCA India Showcase, which was well-received by both governments.
India's imports from Russia jump 5 times amid Russia-Ukraine conflict
Feb 16, 2023, at 06:15 pm
New Delhi: India’s imports from Russia multiplied nearly five times to $ 37.31 billion in the April-January period in FY23 owing to an increase in crude oil import from that country, according to the commerce ministry data.
Air India to acquire 250 Airbus aircraft, Britain welcomes deal
Feb 15, 2023, at 04:38 am
Mumbai/IBNS: Tata Group-owned Air India Tuesday announced that it has signed letters of intent with Airbus and Boeing to acquire both widebody and single-aisle aircraft.
IMF projects India is going to be world's fastest economy in 2023, global growth to drop to 2.9 pct
Jan 31, 2023, at 02:28 pm
New York: The International Monetary Fund (IMF) on Tuesday released its latest projections on world economic growth where India was seen to be growing at the rate of 6.1 per cent in 2023.
Amazon launches air cargo service Amazon Air in India
Jan 24, 2023, at 06:05 am
New Delhi/UNI: E-commerce giant Amazon India on Monday announced the launch of Amazon Air in India to enhance its transportation network and enable faster deliveries to customers.
India's GDP will hit $26 trillion by 2047, says EY report
Jan 19, 2023, at 07:43 am
The Indian economy is expected to reach the $26 trillion mark while the per capita income is also expected to increase to $15,000, catapulting the country to the realm of developed economies by 2047, the 100th year of the country’s independence, according to an EY report, said media reports
Jan 18, 2023, at 07:40 am
Former RBI governor Raghuram Rajan said on Tuesday it’s still too early to say that India will influence global economic growth, pushing China down the ladder, a media report said.
India likely to manufacture 50 pc of all iPhones produced globally by 2027: Report
Jan 18, 2023, at 05:41 am
Beijing/New Delhi: India is expected to assemble 50 percent of all the iPhones manufactured by 2027, a big leap from its current share of less than 5 percent, to be at par with the scale of production in mainland China, according to media reports.
More FDI in services than manufacturing despite Centre's Make-in-India push
Dec 28, 2022, at 11:05 pm
New Delhi/UNI: Foreign direct investment (FDI) into India's services sector rose to US$ 153.01 bln in the April 2014 to March 2022 period from US$ 80.51 bln during April 2000 to March 2014, rating firm India Ratings and Research (Ind-Ra) said in a report on Wednesday.
Bilateral trade between India and the GCC jumps 41 pc to $111.71 billion
Dec 22, 2022, at 12:59 am
New Delhi/IBNS: Bilateral trade between India and the Gulf Cooperation Council (GCC) during the current FY 2022-23, for the period April-October 2022 stood at $111.71 billion, up from $79.49 billion during the same period in FY 2021-22, Union minister Anupriya Patel said on Wednesday.
India-Aus Economic Cooperation and Trade Agreement to come into force on Dec 29
Dec 17, 2022, at 04:44 am
New Delhi/IBNS: The India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA) will come into force on December 29.
Russia replaces Iraq as the largest oil supplier to India in Nov: Report
Dec 15, 2022, at 05:58 am
New Delhi: Russia for the first time in November replaced Iraq as the top exporter of crude oil to India, media reports said.
India-UK FTA to boost jobs, investments and exports between the two countries
Dec 14, 2022, at 11:40 pm
New Delhi: The Minister for Commerce and Industry of India, Piyush Goyal, and UK Secretary of State for International Trade, Kemi Badenoch, MP, met on Tuesday in New Delhi to discuss India-UK FTA negotiations.
RBI begins digital rupee pilot in four cities
Dec 01, 2022, at 11:06 pm
Mumbai/IBNS: Reserve Bank of India's (RBI) retail central bank digital currency (CBDC) pilot kicked off on Thursday (Dec. 1), a month after India's central bank launched the wholesale version for the same.
Air traffic surpasses four lakh mark for two consecutive days in India
Nov 29, 2022, at 08:05 pm
New Delhi/IBNS: Domestic flights flew more than four lakh passengers for two successive days, indicating positive signs of recovery for India's civil aviation sector.
India-Gulf Cooperation Council (GCC) decide to pursue resumption of FTA Negotiations
Nov 26, 2022, at 12:21 am
New Delhi: Piyush Goyal, Minister of Commerce and Industry, Consumer Affairs, Food, and Public Distribution and Textiles, Government of India, and Nayef Falah M. Al-Hajraf, Secretary General, Gulf Cooperation Council (GCC), held a Joint Press Conference, in New Delhi on Friday, to announce the intent to pursue negotiations on the India-GCC FTA.
Our Free Trade Agreement with India has passed through parliament: PM Anthony Albanese
Nov 22, 2022, at 10:31 pm
New Delhi: Australian PM Anthony Albanese on Tuesday announced his government's Free Trade Agreement with India has been passed by the country's Parliament.
Indigenous Koo launched in the US, first market outside India
Nov 18, 2022, at 07:43 pm
In its first market outside India, indigenous Koo, which is seen as an alternative to Twitter, has been launched in the United States.