News Buzz

SaaS startup joins unicorn fleet

API developer, Postman has raised US$ 150 million in an investment round spearheaded by Insight PArtners, a US based venture capital.

Pandemic expedites ease of doing business plan

The disruptions induced by the covid-19 have changed the way the government is doing business, encouraging it to adopt new strategies to mitigate hurdles. 

Exporters jittery, though export queries rise

Exporters in the industry are worried about the sharp rise in orders as they grapple with rising labour prices amid rising export queries.

Exports are improving: CIM

Commerce & Industry Minister, Shri Piyush Goyal is of the opinion that the country's exports have shown improvement in May though they came down by 36% yoy.

27% dip in global goods trade in Q2: UNCTAD

UNCTAD said that the value of global trade in goods is likely to fall by 27% in the ongoing quarter due to the “unprecedented effects of the pandemic”.

EU-UK policy hurting Indian agri exports

A group of countries, including India claim that EU and the UK's joint policy on agricultural imports is harming their exports.

Singapore: Top mkt for Indian engineering exports

EEPC revealed that with India's exports rising 95% yoy to US$553 million, Singapore was India's biggest overseas market for engineering parts in April. 

S&P predicts a stable outlook for India’s credit rating

S&P Global Ratings on Wednesday maintained India’s lowest investment grade (BBB-) credit rating with a fairly stable outlook.

Govt curbs export of specific Covid-19 diagnostic kits

The government restricted the exports of Swabs sterile synthetic fibre swabs, probes and primers specific for Covid-19 testing.

93% yoy dip in pvt equity flows in realty in 2020

With merely 5 deals being concluded in the past 5 months, funds inflow into India’s property sector declined 93% year-on-year to US$ 238 million.

Govt open to pvt sec participation in satellites

The government is open to allowing private companies to launch satellites, start space-based services and explore other planets and outer space.

Govt plans to set up 3,500 FPOs in 3 years

The government is looking to create 3,500 farmer producer organisations (FPOs) in next three years with the intention to boost the income of farmers.

Spending cut by urban consumers likely: EY

A report based on global trends & primary research by EY has revealed that at least five out of 10 urban consumers will continue to cut back on spending.

Karnataka’s STPI units export services worth Rs 36,459 cr

The software technology parks of India (STPI) units in Karnataka exported services worth Rs 36,459 crore during the past three months.

Adani Green wins world’s largest solar project

Adani Green Energy Ltd has sealed a manufacturing-linked solar contract worth US$ 6 billion with the Solar Energy Corporation of India (SECI) to develop 8 GW of projects.

Dip in no. of Indian STEM students in US

NFAP has found that there has been a decline by over 25% between academic years 2016-17 and 2018-19 in Indian science & technology students going to the US.

Sharp dip in urban unemployment: CMIE

India's urban unemployment rate fell to 17.08% in the week ended 7 June from 25.14% in the week ended 31 May as per the data released by the CMIE.

Hike in edible oil import taxes likely

As the country seeks to be self-reliant by augmenting the domestic oilseed production, India is considering raising import taxes on edible oils.

Mid-tier Indian IT firms see new deals

Breaking the halt in any activity, a number of mid-tier technology services firms have signed on fresh deals over the months of April and May.

PPE makers to gear up for global certification

At a time when demand for PPE is at an all-time high, the government has asked industry to prepare for global certification to facilitate their exports.

Rs 8,320-cr loan granted to MSMEs under ECL scheme

Public sector banks have disbursed Rs 8,320 crore till June 5 under the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector.

Discoms’ debt to touch Rs 4.5 lakh cr by FY21: Study

CRISIL Ratings said that the debt of power distribution utilities will touch an all-time high of Rs 4.5 lakh crore by the end of the ongoing financial year. 

22% yoy dip in cargo volumes in April-May

According to industry estimates, cargo volume handled by major Indian ports dropped 22% during the first two months of the ongoing fiscal to 92.82 MT.

Full IBC suspension to hurt lenders

Experts opine that a complete suspension of IBC cases for defaults between March & September will make it difficult for banks & investors to recover loans.

Industry bets on 100% automatic FDI in satellites

Firms have urged the finance minister to allow 100% FDI through the automatic route to attract investment into the space/satellite broadband sectors.

India gears up for short-term RE trade

Moving away from setting up long-term projects, India is finalizing the contours of green markets for short-term trade of renewable energy.

Dip in India’s services sector May activity

As the coronavirus brought activity to a near standstill, India’s enormous services industry endured devastating contraction in May.

Anti-dumping duty on certain steel items extended

The Department of Revenue said in a notification that the government has extended anti-dumping duty on certain variety of steel products till December 4.

India, Australia ink several pacts

PM Shri Narendra Modi & his Australian counterpart Scott Morrison upgraded their ties to a comprehensive strategic partnership & signed several agreements.

Govt releases new SOPs for hotels & restaurants

The Ministry of Health and Family Welfare has released SOPs on preventive measures to be taken in hotels and hospitality units to prevent the spread of COVID-19.

Signs of recovery emerge in May

According to official data, goods movement, which had contracted sharply in March and April, picked up noticeably in May.

SWADES initiative to map skills of foreign returnees

Under SWADES initiative, the government will conduct a skill mapping exercise of workers returning to India from overseas.

51% dip in credit card spending in April: Survey

A survey by digital platform CRED revealed that credit card spending tumbled falling by 10% in March & 51% in April amid the coronavirus lockdown.

MHA allows foreign businessmen, technocrats to visit India

The Home Ministry has allowed foreign businessmen, healthcare professionals and engineers to visit India on the condition that they obtain fresh visas.

13 startups get nod to fly drones

The Directorate-General of Civil Aviation has given nod to a  consortia of 13 delivery startups to test fly beyond visual line of sight (BVLOS) drones.

99% yoy dip in India’s gold imports in May

India's gold imports in May plunged 99% from 133.6 tonnes last year in May to around 1.4 tonnes of gold in May this year.

US probes digital services taxes

The United States Trade Representative (USTR) on Tuesday initiated investigation into digital services taxes (DST) that have been either adopted or are being considered by 10 of its trading partners.

Banks want to restructure loans worth about Rs 3 lakh cr

Indian lenders have sought the permission of the Reserve Bank of India (RBI) for restructuring loans worth about Rs 3 lakh crore given to hospitality, aviation and commercial property companies without downgrading these assets on their books. Without the restructuring relief, nonperforming assets (NPA) on their balance sheets will surge for these banks.

Rs 50k cr schemes to attract electronics makers

Union IT and Telecom Minister Shri Ravi Shankar Prasad on Tuesday, unveiled the guidelines for 3 electronics manufacturing schemes - PLI, SPECS & EMC 2.0. Notified by the Ministry of Electronics and IT (MietY) on April 1, the schemes have a total outlay of Rs 50,000 crore and strive to strengthen domestic manufacturing of five global and five Indian mobile phone makers.

COVID-19: WB bets for policies that induce growth

World Bank urged nations to adopt a dual approach - long-term strategy aimed at resurrecting growth and short-term measures addressing health emergencies - to tackle the economic hardships created by Covid-19 pandemic. Some of the policies suggested to do some damage control include greater debt transparency to invite new investment, faster advances in digital connectivity, and a major expansion of cash safety nets for the poor.

PM bets for leveraging telemedicine in healthcare

Prime Minister Shri Narendra Modi said that the nation must think about applying the “Make in India" initiative in the health sector. India could save up to $10 billion in 2025, if telemedicine replaced 30% to 40% of in-person outpatient consultations and there is digitization in the overall healthcare industry.

Decisions on MSMEs, agri in cabinet meeting

Prime Minister Shri Narendra Modi chaired a cabinet meeting on Monday in which key decisions related to MSMEs and agriculture were announced.

17.92% dip in rural unemployment: Study

The Centre for Monitoring Indian Economy data showed that there has been biggest improvement in percentage terms in the rural job loss rate in nine weeks. Consequently, the national unemployment rate was 20.19% in the week ended 31 May, improving from 24.34% a week earlier, and is the lowest rate of national unemployment rate after 22 March, when it touched 8.41%.

A quarter drop in PV sales in FY21

Research body ICRA expects domestic passenger vehicle demand to decline by almost a quarter in the current fiscal as against earlier projections of a 10-12% drop. Factors like lockdown extensions, liquidity crunch and tighter financing environment, weak rural income and overall slowdown in economic activity have also dampened the sector's performance. 

Validity of scrips for exporters extended

The Directorate General of Foreign Trade (DGFT) has extended the validity of scrips or certificates, provided under export incentive schemes, which are expiring between March 1 and June 30 this year till September 30.

3 Indian cos to make NASA’s Covid-19 ventilator

Three Indian companies Alpha Design Technologies Pvt Ltd, Bharat Forge Ltd and Medha Servo Drives Pvt Ltd, have got licences from NASA to manufacture its indigenously developed ventilators for critical COVID-19 patients.

India should explore pharma mkts in Europe: CIM

Commerce & Industry Minister, Shri Piyush Goyal appreciated the pharma industry for ensuring an adequate supply of all medicines amid ongoing Covid crisis and encouraged businesses to explore untapped markets in eastern Europe and Russia.

15% dip in smartphone sales in 2020 likely

According to market research firms International Data Corporation (IDC) and Counterpoint Research, the estimated sales in the Indian smartphone market are likely to decline by 13-15% due to Covid-19.

India bets for greater TRIPs flexibility at WTO

At the virtual General Council Meeting of the World Trade Organization on Friday, India India has advocated for flexibility in global intellectual property rights (IPR) agreements to ensure access to essential medicines at low costs.

Covid-19, a silver lining for IoT: Experts

Industry analysts opine that the pandemic will usher in new use cases for automation, which will be vital in enhancing production according to short term demand fluctuations and for adaptive manufacturing.

‘Un’lockdown 5.0: India getting back to work

Ministry of Home Affairs has issued guidelines for Lockdown 5.0, which provide a roadmap for phased opening up of the economy in non-containment zones.

18% rise in FDI in 2019-20: CIM

Commerce & Industry Minister Shri Piyush Goyal announced that the total Foreign Direct Investment in India grew at 18% in 2019-20 to US$ 73 billion.

Medicine, food most shipped items in April: Study

The State of logistics in lockdown report by Shiprocket has revealed that medicines and food items were the most sold products across India in April.

DEA plans to tighten the noose around Chinese FPIs

The government has drafted a proposal to sharpen focus on Chinese FPIs by including mainland China & Hong Kong in Sebi’s list of high-risk jurisdictions.

CIM expects exports to improve in May-June

Commerce and Industry Minister Shri Piyush Goyal said that the country's outbound shipments will improve in May and June.

Projects worth over Rs 21.11 lakh cr stuck in red zones

A study by Projects Today unveiled that around 8,917 projects worth Rs 21.11 lakh crore are at a standstill in the 108 red zone districts.

Mask, gloves & PPE makers urge govt to resume exports

Manufacturers of masks, rubber gloves & PPE coveralls believe that there is an adequate domestic production capacity and their exports should be resumed.

TCS to switch to WFH for 75% employees by 2025

TCS CEO  Rajesh Gopinathan has said that by 2025 only 25% of its employees will need to work out of its facilities at any point of time.

Oil prices dip near $32 a barrel

Amidst fresh concerns about excess supply, following a U.S. industry report which signaled that crude inventories swelled for the first time in three weeks, oil prices continued their downward trajectory to near US$ 32 a barrel.

2-4% degrowth in consumer sector this fiscal: Report

Crisil estimates that consumer sector will degrow by 2-4% this fiscal, due to the coronavirus lockdowns & the concomitant disruptions in demand and supply. It cautions that if the lockdowns continue beyond the first quarter, there could be a 30-40% degrowth in the sector. 

Banks need $20-50 bn capital over next 1-2 yrs

Experts believe that as bad loans & credit costs balloon due to the Covid-19 induced slowdown in the economy, Indian banks may need to raise US $20-50 billion capital over the next two years.

New laws on agri trade in the pipeline

According to a senior agriculture ministry official, the government is working on a new law on contract farming and agri-trade.

Govt open to FDI and technology: IT Minister

Addressing a webinar, IT Minister Shri Ravi Shankar Prasad said that though the country strives to be self-reliant, it is open to foreign direct investment and technology. He also clarified that the Prime Minister Shri Narendra Modi’s call for “atmanirbharta,” doesn't mean India will isolate itself from the world.

Lockdown hits 67% of FPO businesses: NIAM

A NIAM survey revealed that pan-Indian lockdown has hit the business operations of 67% of the 92 farmer-producer organisations (FPOs).

Indian gaming industry a hit among VC investors

Indian gaming industry has got venture capital investments worth US$ 350 million from 2014 to early 2020, as per the 'Gaming - India Story' report.

Cos may claim input tax credit for PPE

Central Board of Indirect Taxes and Customs officials have said that government may allow firms to claim input tax credit for free distribution of PPEs, masks & sanitizers.

47% dip in N-95 mask prices post NPPA advisory

While earlier the N-95 masks  sold in the market cost around ₹150 to 300 per unit, there has been a 47% dip in their prices, after the NPPA advisory.

₹9 lakh cr losses incurred by India’s retail trade

India's retail trade lost business worth about ₹9 lakh crore in the last 60 days during the lockdown period according to industry lobby, the Confederation of All India Traders (CAIT).

40% tourism cos at the brink of closure: Study

BOTT Travel Sentiment Tracker survey estimates 40% firms operating in tourism sector stare at the risk of complete closure over the next 3 to 6 months.

Sales of immunity boosting foods double

A recent Google report states that online searches for such products have gone up six-fold, with ayurvedic home remedies, giloy and vitamin C dominating the search.

India to store cheap oil in USA

Union oil minister Shri Dharmendra Pradhan stated, "We are exploring some possibility if we can store some of our investment in a different country ... we are exploring the possibility in the USA if we can store some of the low priced oil."

RBI offers relief to borrowers

RBI Governor Shaktikanta Das today cut the repo rate by 40 basis points from 4.4% to 4% and extended moratorium on all term loans until 31st August'20.

KKR to invest Rs 11,367 crore in Jio

Private equity firm KKR will invest Rs 11367 crore in Jio Platforms for a 2.32% stake. Jio will gain Rs78,562 crore from this & 4 recent similar deals.

70% dip in fruit & veggie exports during lockdown

According to sources, there has been a 70% dip in India's fruit & veggie exports since the lockdown commenced due to the high freight charges by airlines.

GST Analytics wing to study supply chain

The Central Board of Indirect Taxes has asked a GST wing to identify risky major suppliers to exporters & share it with jurisdictional field officers.

Indian oil part of project on hydrogen fuel cell vehicles

Inspired by government's recent call for self-reliance, Indian Oil, is embarking on a Rs 300-crore project for hydrogen fuel cell vehicles as its raw materials can be sourced locally.

4.5 lakh PPE suits a day manufactured by India: Govt

Union Minister Smt. Smriti Irani took to twitter to state that  now over 600 companies in the country are certified to manufacture PPEs.

B2B cos. exempted from using only electronic payments

Ministry of Finance exempted firms with a turnover of over ₹50 crore & involved in only B2B transactions from accepting payments only by electronic modes.

Only 5,000 MW solar installations likely in India in 2020

Mercom said in a report that with project timelines getting extended due to the COVID-19 pandemic, India is expected to add only 5,000 MW of solar capacity in 2020.

62% yoy dip in FDI investment in India in April’20

Due to coronavirus leading to a lockdown & halt in most business activities, India's overseas direct investment in April dipped to US$ 976.14 million.

38-50mn people may lose jobs in tourism value chain

As per the recent estimates by FAITH & CII, the entire tourism value chain may see up to 50 million jobs getting axed in the next three months.

India buys Malaysian palm oil after 4 months

Owing to a fall in domestic inventories & discounted prices, India has resumed purchases of Malaysian palm oil after a gap of four months.

Covid forced 40% startups to halt ops: NASSCOM

A Nasscom survey disclosed that due to the impact of COVID-19 pandemic, around 90% tech startups in India are facing a decline in revenues and 60% of B2C startups are facing business closure.

India Inc scouts for local labour

Since migrant workers have either returned home or are waiting to go back and are reluctant to work in industry now, industries are turning to local labour.

India backs building broadband infra in LDCs

In a virtual meeting of the WTO on COVID-19 trade-related measures, India advocated capacity building of developing and LDCs in imparting digital skills.

Indian Railways operationalises electric locomotive

The Indian Railways has kick-started its first 12,000 hp electric locomotive built by French company Alstom under the Make in India programme.

25% surge in gold prices in two months

Amidst the rising US-China trade tensions and investors becoming jittery over the economic harm caused by covid-19, gold prices in India hit a record high.

Tough recovery for world economy: study

IHS Markit predicts that world economy will shrink 5.5% this year, triple the damage it sustained in the 2008 financial crisis.

H-1Bs usher faster earnings growth for US workers: NFAP

Latest research by the National Foundation for American Policy has revealed that employing H-1B visa holders leads to higher earnings growth for US workers. 

Google to link offline retail inventory with search engine

A pilot project has been initiated by Google where offline stores can list products available with them on a real time basis in the search page itself.

Demand for tractors on an upswing

Amidst rising demand for fertilizers, high foodgrain production & a normal monsoon forecast, it is being reported that demand for tractors is increasing.

India gears up to export non-surgical masks worth $1bn

The Apparel Export Promotion Council (AEPC) is gearing up to export non-medical and non-surgical masks worth US $1 billion within the next three months.

India draws high no. of VCs: Tracxn

Venture capital data tracker Tracxn believes that investors haven’t lost their appetite for Indian startups, as funding levels have risen again.

Lockdown 4.0 announced until 31 May

On Sunday, the Ministry of Home Affairs extended the coronavirus lockdown in the country until 31 May, while offering a few liberties to states & UTs.

Last tranche of economic package announced

Last part of economic package focused on consolidation of PSUs, boosting ease of doing business, and an allocation of Rs 40,000 crore under MNREGA scheme.

Reforms in 8 sectors in 4th tranche of economic package

The 4th tranche of special package focused on coal, minerals, defence production, civil aviation, power distribution in UTs, space & atomic energy sectors.

FM announces third set of relief measures

FM Smt. Nirmala Sitharaman announced the third phase of relief measures the special economic package. These focus on the agriculture and fisheries sector.

Dabur to test if Chyawanprash can prevent covid-19

Dabur India has initiated clinical trials to assess whether its flagship product Chyawanprash can boost immunity against the covid-19.

Govt wants to give universal minimum wage to more ppl

Finance Minister Smt. Nirmala Sitharaman on Thursday said that the government wants to make minimum wage universal to all workers under a new code.

SBI expects rise in fiscal deficit in FY21

SBI expects that India's fiscal deficit to rise to 7.9% in the current financial year due to the government's Rs 20 lakh crore stimulus package.

3% dip in intl trade in Q1’20: UNCTAD

United Nations Conference on Trade & Development said that there was a 3% dip in global trade in the first quarter of 2020 due to the spread of Covid-19.

Going swadeshi is about self-confidence: CIM

Commerce and Industry Minister, Shri Piyush Goyal said during a conference that going 'swadeshi' is about self-confidence and not inward-looking.

FM announces the second tranche of spl package

The Finance Minister announced the second tranche of special economic package to benefit small farmers, street vendors and migrant workers.

India’s fintech funding in Q1’20 surpasses China

China recorded its worst performance in fintech with 29 deals totalling US$175 million; while India's fintech industry's deals amounted to $421 million.

Govt redefines MSMES, includes turnover

While announcing a plethora of measures in the first part of the special economic package, the Finance Minister revised the definition of MSMEs. 

US initiates legislation to impose sanctions on China

The 'COVID-19 Accountability Act' allows President Trump to impose sanctions on China if it doesn't provide an explanation of the outbreak of coronavirus.

IATA expects air traffic to normalize by 2023

International Air Transport Association (IATA) opines that airline passenger traffic will not return to pre-crisis levels until 2023 (at the earliest).

73% yoy dip in venture investments in April: EY

EY said in a recent report that there was a 73% year-on-year dip in venture investment activity to US$ 881 million during the month of April 2020.

FM unveils first part of Aatmanirbhar Bharat economic package

FM Smt. Nirmala Sitharaman announced measures for MSMEs, NBFCs, discoms, contractors & real estate under Part 1 of the Aatmanirbhar Bharat economic package.

Lockdown 4.0 comes with Rs 20 lakh cr package

In his address to the nation on Tuesday, PM Shri Narendra Modi announced a Rs 20-lakh-crore stimulus package to stir up economic activity in the country.

35% growth in logistics sector in 2021 likely: Study

The Welspun One Logistics Parks (WOLP) report has estimated that the warehousing and logistics asset class could be among the fastest to recover from the coronavirus crisis.

PPE shops at airports in India

Airports Authority of India has begun the process of inking contracts with private parties through tenders for dedicated outlets to sell PPEs to travellers.

Rs 300 crore investment by Philips in India on cards

Dutch company, Philips, is planning to augment its investment in India to Rs 250-300 crore to boost its manufacturing and R&D facilities in the country.

Non-paddy cultivation being promoted in Pb, Hr

Keeping in mind Centre's advice of crop diversification, paucity of labour & dipping water table, Haryana & Punjab are promoting sowing of non-paddy crops .

Govt decides against hiking lease rent in SEZs

In a bid to provide relief to the units in SEZs, the government said on Monday that the lease rent will not be increased for 2020-21.

US-China in a media imbroglio over virus origin

The blame game over the origin of Covid-19 has led to an ugly media spat between global superpowers, US & China, with both the sides blaming each other. 

Fin Min grants Rs 6,195 crore to 14 states

Following the recommendation of the 15th Finance Commission, the Finance Ministry on Monday released Rs 6,195.08 crore to 14 states. 

IT industry wants work from home regulation

India’s US$191 billion IT industry is seeking revisions in the country’s taxation and labour laws as remote working is likely to be the new normal.

Apple planning to move 20% production to India

In a bid to diversify its supply chain in the wake of coronavirus, Apple is planning to shift one-fifth of its production capacity from China to India.

Defence ministry inks pact to modernize airfields

Union Ministry of Defence on 8th May sealed a  Rs 1,200 crore deal with Tata Power SED to modernise the infrastructure af 37 airfields.

Delhi-Mumbai Expressway has opportunities: Gadkari

Union Minister Nitin Gadkari said that the Delhi-Mumbai Expressway offers opportunities to invest in townships, smart villages and wayside amenities.

Crisis to have worse impact than expected: IMF

The International Monetary Fund said in a webcast hosted by the Council on Foreign Relations that the world can expect more waves of financial turbulence.

New guidelines to be followed for restarting industries

NDMA issued guidelines for restarting industries after lockdown, in the wake of the gas leak at a factory in Visakhapatnam after it resumed operations.

E-comm orders show signs of recovery

Orders of non-essential commodities on e-commerce platforms in the first week of May in orange & green zones are gradually returning to pre-lockdown level.

India steps up game to lure US firms

India is seeking to lure U.S. businesses trying to shift out of China by offering incentives revolving around food processing units, textiles, leather, etc.

ICMR expands the list of drugs to cure Covid-19

The ICMR has approved the use of Lopinavir/ritonavir, a fixed-dose combination of drugs used for HIV/AIDS treatment, for use in Covid-19 patients.

Few domestic airlines under threat of existence: ICRA

Rating agency ICRA has said in a report that Indian carriers are expected to incur combined losses of Rs 5,100-6,100 crore in the period between March 25 and May 31.

SEZs want customs duty waiver to tap domestic mkts

The SEZ units in India want the government to allow them to sell their products in the domestic market without payment of customs duties.

Operations begin in automotive retail chain

20% of the nation's auto retail chain, or roughly 3,500 outlets, opened for business this week, with one-third staff to comply with social-distancing norms.

ICMR turns to polyester as cotton runs out

The Indian Council of Medical Research (ICMR) has been evaluating the effectiveness of polyester swabs for Covid-19 test kits amid a shortage of cotton swabs.

Govt allows 13 consortia to operate drones

Ministry of Civil Aviation has exempted 13 consortia, like SpiceJet, ShopX, Dunzo and Throttle Aerospace, to operate drones on an experimental basis.

Over 500 mn active Internet users in India: IAMAI

The Internet and Mobile Association of India's 'Digital in India' report states that the country has an active Internet user base of over 500 million.

Rs 5.50 lakh cr losses in retail sector during the lockdown: CAIT

Confederation of All India Traders said that COVID-19 has caused a huge dent in retail trade which will have a devastating effect on the whole country.

Sanitiser mkt grew more than fourfold after corona

The country's sanitiser market swelled more than fourfold after the outbreak of novel coronavirus this March, according to Nielsen India.

E-comm cos roll out non-essential deliveries

In  green & orange zones, the government has given a green chit to e-commerce firms like Amazon and Flipkart to begin the delivery of non-essential items.

Govt may launch import substitution policy: Gadkari

Union Minister for MSME and Road Transport and Highways, Shri Nitin Gadkari said the government is considering introducing a policy on import substitution.

India develops a land pool to lure investors

At a time when global investors are moving supply chain outside China, India is developing a land pool double the size of Luxembourg to lure businesses.

PM Modi calls for an egalitarian globalization

In a speech to the NAM's virtual meet on covid-19 crisis, PM Modi said the world will need a new template of globalisation based on fairness and equality.

3 mth extension on bank loan moratorium likely

The extension of the nationwide lockdown has made the Reserve Bank of India to consider the extension of the moratorium on bank loans by another 3 months.

9.7% yoy rise in India’s wheat output: Skymet

Skymet Weather Services has estimated that the country's wheat production this year would be around 113.66 MT against 103.60 MT last year.

Automobile makers set to resume production

Two-wheeler makers in the country, Hero MotoCorp & Honda Motorcycle and Scooter India, are set to roll out production, after more than a month of lockdown.

After a 23% price cut, ATF price costs 1/3rd of petrol

Owing to a slump in international oil prices, Jet fuel (ATF) prices have been slashed by a steep 23%, costing about one-third of petrol and diesel rates.

26% dip in peak power demand

The country's peak power demand - i.e. the highest energy supply during the day across the country - remained down by over 26% in May so far at 134.7 GW.

MOCI mulls ways to make India production hub

The Ministry of Commerce and Industry is brainstorming hard to identify certain key sectors that could establish India as a global manufacturing hub.

Hospitality industry feels the heat of lockdown

In the third phase of the lockdown, the country's hospitality services including hotels and restaurants remain prohibited.

MSME package in the pipeline: Gadkari

Union Minister of Road Transport & Highways, MSMEs, Shri Nitin Gadkar has suggested providing low-cost capital to MSMEs through NBFCs.

6.5% dip in core sector growth in March

India’s eight core sectors contracted by a record 6.5% in March after touching an 11-month high in February on account of coronavirus.

Govt to back MSMEs with up to 100% credit guarantees

According to sources, the government is set to guarantee loans - between 25% and 100% - given to small businesses by financial institutions.

Improvement in current doubling rate for COVID-19 cases

Health Ministry Joint Secretary said that current doubling rate for COVID-19 cases has improved to 11 days as against 3.4 days before the lockdown.

RCEP keen to have India join the trade block

The existing members of Regional Comprehensive Economic Partnership are keen to welcome India’s return to the negotiating table for entering the trade bloc.

4.5% dip in India’s IT spending amid virus: IDC

Research firm IDC reveals that India's domestic IT spending on hardware, software & services is expected to drop by 4.5% in 2020 due to coronavirus.

Bglr’s pharma firm exports Covid-19 drug

Bangalore's Strides Pharma has developed and commercialized Favipiravir Antiviral tablets, an antiviral medication that was initially developed to treat influenza in Japan.

INR 111 Lakh Cr infra investments for 2020-25 period

The task force on National Infra Pipeline (NIP) projected total infrastructure investment of Rs 111 lakh crore during 2019-20 to FY25.

Incentives to exporters should be WTO compliant: Goyal

Commerce & Industry Minister Shri Piyush Goyal said that incentives given to exporters must be justified, reasonable & compliant with global trade rules.

Govt may give 10-day notice to flights to operate

An aviation industry senior official stated that flight services, which were suspended from 25th March, could commence early June.

India goes back to to RT-PCR Covid-19 tests

The Indian Council of Medical Research (ICMR) has asked manufacturers of RT-PCR (reverse transcription polymerase chain reaction) kits to ramp up production.

Govt relaxes ‘WFH’ norms for IT, BPO firms

The government has extended relaxations of certain rules till 31 July to facilitate work from home for employees of IT & BPO firms.

27% rise in real estate investment in 2019: Study

A report by CBRE reveals that real estate recorded a 27% rise in investment in 2019 with approximate fund inflow of US$ 6 billion across all key categories.

Business productivity slips amidst the pandemic: study

While business productivity has suffered during the coronavirus crisis, individual productivity has increased, as per Deloitte India.

Plasma therapy can have threatening implications: Govt

Ministry of Health and Family Welfare has warned that plasma therapy is still experimental & can create life-threatening complications in Covid-19 patients.

Blockchain tech can tackle supply chain failures: WEF

The World Economic Forum stated on Tuesday that blockchain technology can tackle supply chain failures that have surfaced amidst the COVID-19 pandemic.

1mn+ employees to WFH post lockdown: Ex-Infosys CEO

Kris Gopalakrishnan, former President, CII, stated that over one million IT employees are expected to continue to work from home after the lockdown ends.

Reliance launches WhatsApp Order Booking Service

Reliance JioMart has introduced a new dedicated  WhatsApp Order Booking Service for customers to order more conveniently during the lockdown.

Shapoorji Pallonji arm sells solar assets to KKR

Shapoorji Pallonji Infrastructure Capital inked an agreement to sell 317 megawatts (MW) of solar assets to private equity firm KKR on Monday.

Sewa International sets up Covid-19 plasma therapy programme

US-based Sewa International, has set up a programme for COVID-19 survivors to donate their blood plasma for a therapy to save severely ill patients.

Govt may guarantee ₹3 lakh cr for small-business loans

In a bid to restart the economy, government is mulling a proposal to guarantee 3 trillion rupees (US$ 39 billion) of bank loans to small businesses.

India takes a scenario-based approach in tackling corona

While the lockdown has helped flatten the covid-19 curve and reduced the number of so-called red zones, 27 districts still account for 68% of the country’s total caseload.

IITs spearhead India’s Covid-19 battle

18 IITs who are part of 208 dedicated R&D projects under seven different categories are the front runners of India’s scientific effort to contain and eliminate the threat of the novel corona virus.

Pune’s Serum Institute to make Oxford Varsity’s COVID vaccine

Pune-based Serum Institute of India told reporters that it is all set to start manufacturing Oxford University's COVID vaccine over the next 2-3 weeks.

India-domiciled cos filed 1300+ patents in US in 2018-19

Nasscom has disclosed that over 1,300 patents were filed by India firms in the US in 2018-19 across fields like pharmaceuticals, AI and chemistry.

Bengaluru becomes the nation’s PPE production hub

Government stated that production capacity of PPE coveralls has been ramped up to more than 1 lakh a day, with nearly half the production in Bengaluru.

3 states become virus-free

In addition to Goa & Manipur, Tripura has announced that the state has become coronavirus- free after its second Covid-19 patient tested negative.

India goes big on lending activity

In a bid to inject liquidity into the economy, Indian government has redoubled efforts to push state-run banks to boost lending.

Amazon sells goods from neighborhood stores

“Local Shops on Amazon” will help customers find products from local shops, while enabling shopkeepers to service customers outside their serviceable area.

WB predicts 23% dip in remittances to India

The economic distress induced by the pandemic and shutdowns, will lead to a 20% dip in global remittances this year, according to the World Bank.

Govt suspends IBC provisions for up to 1 yr

To offer respite to corporate borrowers, government is suspending up to 1 year the law provisions that trigger insolvency proceedings against defaulters.

10-15% dip in inland logistics companies’ volume

India Ratings is estimating inland logistics companies' volume to plunge by 10-15% in the financial year 2020-21 as the consumption demand could take a longer time to revive.

Pandemic to cause famines across the globe: UN

“While dealing with a COVID-19 pandemic, we are also on the brink of a hunger pandemic,” David Beasley, Executive Director of the World Food Programme (WFP) stated.

Indian oil refineries 95% full

India’s appetite for key transportation fuels, refiners in India  have filled 95% of about 85 million barrels of fuel storage capacity.

Rupee slides to around 77 per US dollar

The  heavy selling by foreign portfolio investors in the capital market has led to the Indian Rupee plunging to a record low of 76.92 against the US dollar.

57% Indian cos expect negative biz impact: Study

57% companies in India expect moderate to large negative business impact in the next six months due to COVID-19 outbreak.

Shipping Ministry offers relaxations at ports

Ministry of Shipping has noted the disruption of logistic chains owing to COVID19 pandemic and subsequently offered some relaxations to ports.

Oxford university starts human trials for Covid-19

The UK government on Tuesday announced that the human trial of a potential COVID-19 candidate vaccine being developed by researchers at University of Oxford is set to begin from Thursday.

Govt releases new lockdown guidelines

MHA issued a fresh note to all the states regarding all the facilities which have been been exempted from lockdown measures.

Facebook to invest in Jio Platforms

According to a recent deal between the two giants, Facebook will invest ₹43,574 crore for a 9.99% stake on a fully diluted basis in Jio Platforms.

Govt funds 16 cos for Covid-19 cure R&D

In an attempt to efface Covid-19 from the country, the department of biotechnology has granted funds to 16 companies for developing drugs, vaccines and devices to fight the virus.

Air traffic could fall by 30% this fiscal

Air passenger traffic is expected to decline by around 30% in the present fiscal and air fares may also rise due to social distancing guidelines.

Tiruppur eyes US$2-bn opportunity from PPE business

Tiruppur, is doing its best to augment production as demand for personal protection equipment  has unearthed a $2-billion worth business opportunity this fiscal year.

Lockdown could wipe out over 40% of defence MSMEs

A complete revival of all MSMEs is expected to take a year and the cost of products could go up marginally when production is resumed.

Rs 4k cr more to be spent on crop insurance scheme

According to media reports, the government will have to spend Rs 4,000 crore more on the revamped crop insurance scheme after making it voluntary from the upcoming kharif season.

Oil plunges below $0 a barrel

Oil futures collapsed to below zero for first time since 1946. This reflects how oversupplied U.S. oil market has become with industrial activity ceasing.

19.5 cr households to be given food under Food Security Act

Under the National Food Security Act (NFSA), the government has started distribution of one kg of free pulses per month to every ration card holder.

‘Kisan Rath Mobile App’ launched for farmers

The Centre has launched Kisan Rath Mobile App. It will allow movement of farm produce from farm gate to mandi and from one mandi to another.

6 Indian cos attempt to make coronavirus vaccine

Pitching in the global efforts to find a quick preventive for the fatal infection spreading rapidly across the world, six companies in India are working on a vaccine for COVID-19.

MNRE coaxes states to support manufacturers

The Ministry for New and Renewable Energy (MNRE) has coaxed states to incentivize setting up designated manufacturing hubs in India.

Railways carry 1,150 tonnes of medical items

Railways has supplied 1,150 tonnes of medical items including medicines, masks, hospital items & other medical commodities across India amidst the lockdown.

Govt tweaks FDI rules to curb takeovers of Indian cos

To prevent opportunistic takeovers/acquisitions of Indian companies due to the Covid-19 pandemic, the government revised para 3.1.1 of the FDI Policy, 2017.

Rent of IT cos in software tech parks waived off for 4 mths

The government has decided to waive off for four months the rent paid by the IT & ITeS companies operating out of Software Technology Parks of India.

India’s phone exports more than doubled in FY19-20

Data released by the Ministry of Commerce & Industry on Wednesday revealed that India's phone exports more than doubled from 1.7 crore units in FY18-19 to 3.6 crore units in FY19-20. 

India could be global hub for testing kits

Kiran Mazumdar-Shaw, executive chairperson, said India has the capacity to emerge as global hub for manufacturing testing kits.

RBI slashes reverse repo rates

RBI Governor Shaktikanta Das announced a series of measures to support the financial system against the fallout of the coronavirus outbreak.

Lockdown 2.0 to have more aggressive testing

Sources from the Ministry of Health and Family Welfare have stated that Lockdown-2.0 would focus on aggressive testing starting April 20.

India exports major farm items

Union Agriculture Ministry has said that exports of major farm items such as rice, meat, dairy and processed food items have been commenced.

34.57% dip in March’s exports

Merchandise exports in March stood at US$ 21.41 billion down from US$ 32.72 billion in the same month last year.

Suraksha Stores set up by govt & FMCG giants

India’s biggest consumer goods companies have joined hands with the government to convert millions of neighbourhood kirana stores into sanitised retail outlets

Govt allows more cos to make medical oxygen

Albeit there is enough stock of medical oxygen in the country, government has simplified process of getting a licence to manufacture medical-grade oxygen

Post covid world ready to move out of China

At a time when the world is thinking of diversifying production, India wants to establish itself as an alternate manufacturing hub to China.

Drug, medical device cos operate with 50% capacity utilisation

There seems to be some breather for the country as drug and medical device manufacturing companies start to operate with 40-50% capacity utilisation.

Domestic apparel industry hit by COVID-19 crisis

Despite online retailers trying to woo buyers with lockdown sales, industry experts believe that consumers may not be keen to buy apparels anytime soon.

CBIC allows electronic docs for import clearances

Government has allowed importers and customs brokers to give electronic out of charge copies of bill of entry and eGatepass from April 15.

INR 3.15lakh cr lost in retail trade due to lockdown: CAIT

CAIT assured government that traders will continue to run the supply chain of essential goods in a "most efficient and effective" manner.

WHO identifies 6 parameters for lifting lockdown

The World Health Organization (WHO) has set out six criteria to help countries gauge when to lift lockdowns.

Dept of Agriculture launches Agri Transport Call Centre

Department of Agriculture has started an All India Agri Transport Call Centre to ensure smooth movement of perishables & agri inputs.

Lockdown extended till 3rd May

In order to flatten the curve of coronavirus in the country, Prime Minister Shri Narendra Modi today extended the nationwide lockdown till May 3.

IIT-G makes affordable antimicrobial PPE coating

IIT Guwahati has developed economical antimicrobial spray-based coating for PPE & comfortable Ear Guards for masks.

DGFT imposes curbs on palm oil imports

India on Monday added more conditions on refined palm oil imports, further to the ones imposed by the DGFT on 8th January.

Govt turns to 3 other nations for antibody test kits

Owing to a delay in supply from China over quality issues, Indian government has tuned to South Korea, Singapore and Switzerland to procure antibody rapid test kits.

Govt gives nod to packaging cos to operate

The government has given a green chit to packaging material makers to operate during the lockdown. The relaxation given to packaging industry is a blessing for food companies.

DPIIT in favour of resuming economic activity

DPIIT has urged the home ministry to allow more industries to operate with reasonable safeguards even if the pan-Indian lockdown is extended.

Convert COVID-19 into an opportunity: Gadkari

Union Minister for Road Transport, Highways and MSME, Shri Nitin Gadkari said that India needs to focus on infrastructure in wake of the COVID-19 crisis.

Ordinance to amend IBC on cards

To avoid firms from being forced into insolvency proceedings, an ordinance to amend the Insolvency and Bankruptcy Code is likely.

Tech cos build coronavirus-fighting tools

Indian cities are turning to tech giants such as Tech Mahindra, HCL Technologies & Infosys to offer solutions to tackle the spread of Covid-19.

Govt supports export industry to address corona woes

Ministry of Commerce & Industry stated that it has taken several measures to address hardships faced by exporters due to the coronavirus pandemic.

India among the leaders in Covid-19 response

India is among the top ranking countries in terms of government responses according to the "Oxford COVID-19 Government Response Tracker".

Coronavirus hangs over the future like a ‘spectre’: RBI

RBI cautioned that Coronavirus, the accompanying lockdowns and the expected contraction in global output in 2020 weigh heavily on the growth outlook.

Automakers want flexible manufacturing after the pandemic

Anticipating a volatile demand after the Covid-19 pandemic, automakers are looking to fast-track plans for agile manufacturing processes and supply chains.

15k cr package to support health infrastructure

The Covid-19 Emergency Response and Health System Preparedness Package will be disbursed to state governments and Union Territories in three phases.

Upgrade schemes to help MSMEs battle virus: Gadkari

Union Minister for MSMEs Shri Nitin Gadkari spoke about the need to widen the scope of existing schemes for MSMEs to help them fight the impact of Covid-19.

Customs duty, health cess on essential medical goods lifted

The government has decided to exempt customs duty and health cess on the import of essential medical goods like ventilators and masks.

Trump praises India after hydroxychloroquine deal

US president Donald Trump on Tuesday showered praises on India and Prime Minister Shri Narendra Modi for lifting the curbs on hydroxychloroquine exports on a case-by-case basis.

Genome sequencing started to track covid-19 spread

Scientists in the country have started genome sequencing strains of the novel coronavirus isolated from patients in different parts of the country to track its spread and look for signs of emerging mutations.

PM hints at staggered lifting of lockdown

In his interaction with political party floor leaders on coronavirus outbreak, PM Modi stated that the lockdown will not be lifted in one go on April 14.

₹18,000 cr tax refund relief to tide over the crisis

The Finance Ministry has stated on Wednesday that it will immediately release ₹18,000 crore in tax refunds to individuals and businesses to provide respite against the backdrop of the covid-19 pandemic.

Covid imposes spending curbs on ministries

The coronavirus is forcing various ministries to be thrifty as Centre has tightened expenditure for the first quarter of FY21 and prioritised frontline spending to combat the pandemic.

25 mn aviation jobs at stake

25 million jobs across the world could be at risk from the coronavirus travel downturn, if experts from global airlines are to  be believed.

Corona hurts the income of top 100 Billionaires

According to a special report by Hurun released on Monday, the Covid-19 pandemic has effaced a combined US$ 408 billion from the world’s top 100 billionaires. 

Gold prices hit record high

On Tuesday, gold prices in the country hit a new high of ₹45,724 per 10 gram in futures market, surging ₹2,000 per 10 gram.  

INR 5trn needed to boost virus-hit economy: Garg

Finance Secretary SC Garg stated that government may need to borrow at least 2% of GDP (INR 4-5 trillion) more for supporting the coronairus hit economy.

Double whammy for NBFCs amid pandemic

The disruption caused by the Covid-19 outbreak has put msall and medium-sized NBFCs at risk as they face the challenges of debt repayment & cash shortage.

23.4% rise in unemployment rate due to lockdown

Centre for Monitoring Indian Economy revealed that urban unemployment rate soared to 30.9%, while overall unemployment rose to 23.4%.

32.44% dip in India’s edible oil imports in March

Solvent Extractors Association of India, has revealed India's edible oil imports declined 32.44% to 9,41,219 tonne in March.

DGFT amends export policy for APIs

On Monday, the Directorate General of Foreign Trade removed the export restrictions on 24 active pharmaceutical ingredients & formulations.

Govt mulls post-coronavirus strategy

Prime Minister Shri Narendra Modi on Monday directed the cabinet to prepare a list of 10 major decisions and 10 priority areas to focus on once the lockdown is lifted. 

1 lakh tests per day in the pipeline: ICMR

On Monday, the Indian Council of Medical Research (ICMR) stated that it is planning to scale up testing capacity to 100,000 tests per day in coming months.

Dip in India’s income for the 1st time in 20 yrs

India's corporate and income tax collection in 2019-20 fell 8% from the previous fiscal to ₹10.27 lakh crore amid a slowdown and cut in corporate tax rates

Lockdown stalls Indian rice exports

Rice exporters from India, the world’s biggest exporter, have ceased signing fresh exports contracts amid the nationwide lockdown intended to curb the spread of coronavirus.

India steps up its strike against Covid-19

India is drawing some lessons from the mistakes of global hotspots like Italy and Iran & stepping up its strike against Covid-19.

Railways innovate a low-cost ventilator

Indian Railways has made a low-cost ventilator, Jeevan. Developed at Kapurthala Rail Coach Factory and the brainchild of Ravinder Gupta, general manager of the RCF, it awaits ICMR clearance to go into production. 

Hydroxychloroquine may be added to restricted list

Following US president Donald Trump public appeal to Prime Minister Shri Narendra Modi to allow its exports, India may consider relaxing restrictions on the export of hydroxychloroquine.

WB grants US$1 bn aid to India to battle coronavirus

The World Bank has approved US$ 1 billion emergency funding for India, largest financial assistance among 25 nations, to tackle the coronavirus pandemic. 

Exporters seek nod to restart work with 50% staff

Exporters have filed a petition amid a 21-day nationwide lockdown that they be allowed to restart operations with 50% staff.

Bione launches covid-19 home screening test kit

Priced between ₹2,000 and ₹3,000 , Bione claims the kit is easy to use and displays accurate results within minutes.

Pharma cos want permission to airlift Chinese APIs

The pharma companies in India have urged the government to airlift  key active pharmaceutical ingredients (API) required to make hydroxychloroquine from China.

Retailers at malls seek 0 rentals till May

India’s largest restaurant chains, retailers and multiplexes are invoking the force majeure clause and have sought waiver of rentals from mall owners till May.

Coronavirus is biggest crisis since WWII: UN

U.N. Secretary-General Antonio Guterres said at the launch of a report on Tuesday on the socioeconomic impacts of COVID-19, that the world faces the most challenging crisis since World War II.

RBI rolls out more relief measures to fight virus

Taking the fight against covid-19 crisis a step further, the Reserve Bank of India has rolled out more relief measures from its kitty. 

2 Indian drug makers working on anti-corona drugs

BDR Pharma & LASA Supergenerics are developing antiviral molecule Favipiravir that has aided recovery of Covid-19 patients in a trial conducted in China.

GST revenue rises in FY20 to INR 12.2 trillion

In the April-March period of FY20, GST revenue collection grew by 3.8% to INR 12.2 trillion from the year ago period.

Investments in startups dip by 36% yoy in Q1

According to data from a research service platform Venture Intelligence, the number of investments went down by 35.71% to 126 during the period from 196 last year.

Lockdown to cause US$1 bn in online retail: Study

Forrester estimates that 21-day nationwide shutdown to cease the proliferation of Coronavirus is going to hurt the e-commerce companies.

Govt to suffer heavy loss in excise duty collection

The pan-Indian three-week lock down is likely to leave a major dent on the government's revenue.

India’s fiscal deficit at 135% of the budget in Feb

The data released by the Controller General of Accounts showed that the country's fiscal deficit amounted to INR10.36 lakh crore in February.

Govt to regulate medical devices as drugs: NPPA

National Pharmaceutical Pricing Authority has notified that from April 1, 2020, all medical devices shall be regulated by the government as drugs.

Joint G20 Action Plan to battle the pandemic

Finance ministers and central bank governors of the G20 conglomeration decided to deliver a joint action plan to battle the coronavirus pandemic. 

Health ministry asks auto cos to make ventilators

Centre has instructed India's automobile manufacturers to use their facilities to manufacture ventilators to boost the country's capacity of such machines.

Corona effect: Crude prices dip to 17 yr low

US benchmark West Texas Intermediate fell 5.3% to trade at $20 a barrel, while international benchmark Brent crude was off 6.5% at $23.

Robots join the battle to defeat Coronavirus

Minimizing human contact and the threat of Coronavirus transmission, robots are being deployed in many parts of the world for jobs such as sanitizing hospitals and delivering food and medicines.

Pandemic to impact electricity demand: ICRA

Coronavirus will adversely impact electricity demand and cash flows for discoms, resulting in payment delays for power generation & transmission companies.

Labour-driven exports bear the brunt of Covid-19

India's labour-intensive export sectors are bering the brunt of the Covid-19 pandemic. Some of these sectors include leather, textiles, gems and jewellery, carpets and handicrafts.

Foreign trade policy to extend till September

Given the trade problems due to Covid-19 outbreak, the government has decided to extend the existing foreign trade policy (2015-20) till September 30, 2020.

Govt asks shipping cos to waive off detention charges

The government has directed shipping companies to refrain from collecting detention charges on EXIM cargo due to the business disruption owing to Covid-19.

MHA allows flow of all essential, non-essential goods

The Ministry of Home Affairs (MHA) on Sunday asked states to allow transportation of all goods, without distinction of essential and non-essential. 

Saudi Arabia to supply LPG: Dharmendra Pradhan

“Prince Abdulaziz assured (me) of LPG supplies in the coming days to support our domestic requirement,” the minister tweeted.

India to have fastest growth in G20 in FY’20: EIU

Albeit the Indian economy is likely to be battered by the Coronavirus pandemic this year, it is still likely to be better off than all other G20 countries.

India asks FTA partners to ease imports regulations

Government has urged the countries, with which it has free trade agreements, to allow imports of goods without certificate of origin for the time being.

Corona impact: India Inc wants a 15 mth FY

Amid the Coronavirus contagion, many companies have sought extension of current financial year till June 2020 & next one to start from July to March 2021.

Slowdown in corona spread: Health Ministry

Joint Secretary, Union Health Ministry, Lav Agarwal opined on Thursday that India is now showing a relatively slower spread of COVID-19 infection rate.

RBI cuts repo rates to 4.4%

At the time when the whole nation has been engulfed by the COVID-19 pandemic, the Reserve Bank of India (RBI) has reduced the repo rate by 75 bps to 4.4% on Friday.

Air India secures refinance loan

Air India has secured short-term funds to service Rs 700 crore worth non-convertible debentures and avoided defaulting on the debt payment.

Telcos ensure critical workers can freely travel

The Department of Telecommunications has given green chit to three private telcos to ensure hassle-free movement of critical workers amid the lockdown.

Lockdown to curb medicine asupply: Pharma lobby

All India Organisation of Chemists and Druggists (AIOCD) is concerned that the three week lockdown is likely to affect medicine supplies in India.

RoSCTL extended for export of garments

The Cabinet xtended the period for the continuation of Rebate of State and Central Taxes and Levies (RoSCTL) for export of garments and made-ups.

US$ 2 trn package to revive American economy

The Senate and White House have reached agreement to pump US$ 2 trillion into the economy as millions of Americans have been ravaged by the coronavirus crisis.

Corona to cost economy INR 40k cr daily

If the 21-day long national lockdown leads to 80% production loss, the economy will take a hit of Rs 35,000-40,000 crore on a daily basis.

Corona effect:Logistics cos suspending operations

Amidst a pan-India lockdown to contain Coronavirus, air freight operators and logistics firms are being forced to suspend operations.

India still in Corona stage 2: Govt

Despite the number of Covid-19 cases jumping to 606 on Wednesday, with 10 reported deaths, the Center has observed that there is no proof of community transmission so far in India.

FM announces relief measures amid a complete shutdown

Union Finance Minister Nirmala Sitharaman today announced various statutory and regulatory compliance relief measures.

PM Modi instructs India to lock down for 21 days

Following the PM's address to the nation, the Home Ministry on Tuesday released detailed guidelines on the measures to be taken central and state level to contain Covid-19 epidemic. 

Transport curbs may cause food prices to rise

Transport curbs and pandemic fears open up a wide chasm between the farm and the fork, causing a possible in food prices and scarcity of these commodities.

Pvt hospitals to treat Corona patients from Thu

The government has roped in private hospitals in its fight against the virus and directed them to begin admissions.

Export of hydroxychloroquine banned

Indian government has decided to ban the the export of hydroxychloroquine, a malaria drug, that has the potential to cure this deadly disease.

Govt allocates INR 48,042 cr in electronics schemes

Union Cabinet has given approval to three key schemes with a total outlay of INR. 48,042.25 crore to incentivize electronics and components manufacturing exports and production in the country.

China works 24/7 to build ventilators

Amid global death toll from coronavirus crossing 15,000 & doctors across the world seeking ventilators, China has been working hard to produce ventilators.

Covid-19’s economic impact at $1 trillion: UNCTAD

UNCTAD estimated economic impact of Covid-19 at US$1 trillion in 2020. Many countries are prioritising relief & support over fiscal discipline.

ICMR recommends hydroxychloroquine for Corona

Indian Council for Medical Research (ICMR) has endorsed hydroxy-chloroquine as a preventive medication for high-risk population.

Cos with NIV validation to produce Corona testing kits

Balram Bhargava, ICMR, said, “Now kits manufactured in India need NIV validation and then apply to Drug Controller General of India (DCGI) for manufacturing licence.”

Manufacturing halted across sectors

Key segments of Indian manufacturing have started shutting down in response to the lockdown orders issued by central and state governments.

Liquor firms seek licenses for sanitizer

Central government has urged state governments to rope in distilleries to make hand sanitizers for the shutdown period till March 31 due to the pandemic.

Defence, atomic labs to study Covid-19

The government has roped in defence and atomic research labs to accentuate the national effort to find a solution to deal with the Covid-19 virus outbreak. 

Covid-19 may facilitate work from home option

As social distancing becomes key to contain the spread of the outbreak, Covid-19 pandemic could be the tipping point for the IT sector to work from home.

75 coronavirus-hit districts locked down

Centre and state governments have decided to completely shutdown 75 districts which have reported the incidence of this disease across.

Rupee falls below 75 to US dollar

Indian Rupee fell sharply to 75.31 against the dollar at day's low, compared to its previous close of 74.24. 

INR 3000 cr fund for API units proposed

The Department of Pharmaceuticals (DoP) has proposed the creation of Rs 3,000 crore corpus for companies to establish fermentation or API units.

14% dip in investments in renewable sector

Minister of Power, New and Renewable Energy, Shri R K Singh informed the Lok Sabha that the country's renewable energy sector dropped by 14% to INR 68,550 crore in calendar year 2019.

Corona effect: RBI to inject ₹10,000 cr liquidity

To safeguard the country's financial health amid coronavirus outbreak, RBI will inject liquidity of ₹10,000 crore through open market operations on Friday.

Govt takes firms steps to prevent Coronavirus spread

Prime Minister Shri Narendra Modi has called for a people’s curfew (from 7am till 9pm)  on Sunday in a drastic step by his administration to prevent a surge in Covid-19 cases.

Self-assessment of AGR dues by telcos short of DoT figs

While the Department of Telecommunications (DoT) pegged AGR dues for 16 entities to INR 1.69 lakh crore, that calibrated by companies like Bharti Airtel, Vodafone Idea and Tata Group stood at INR 37,176 crore.

India not obliged to accept WTO’s report on export schemes: Govt

Commerce and Industry Minister Shri Piyush Goyal said that India is not obliged to implement recommendations the WTO's panel has made about its export promotion schemes.

Govt revamping foreign trade policy: Piyush Goyal

The upcoming foreign trade policy could encompass making the country self-reliant in many products and a separate chapter on e-commerce.

Corona effect: Airlines may ground jets

Following the suspension on all tourist & e-visas to India after the virus hit India, Indian carriers may need to ground as many as 150 aircraft.

Live events industry suffers losses around 3,000 crore

The ripple effects of coronavirus are being experienced by the live events industry, as many high-profile events are either cancelled or postponed.

Pan India shutdown for restaurants starting today

NRAI has recommended its 500,000-plus restaurant members to shut down dine-in operations starting Wednesday across the country till March 31.

Corona effect: S&P cuts India 2020 growth estimate

Fearing that the Asia Pacific region may tip into recession amidst the COVID-19 outbreak, Standard and Poor's (S&P) on Wednesday slashed its calendar year 2020 growth projection for India to 5.2% from 5.7%.

Govt to tighten scrutiny over etailers: FM Sitharaman

Corporate Affairs Minister Smt. Nirmala Sitharaman said in Rajya Sabha said that it has proposed amendments to the Competition law for greater regulation of e-commerce platforms.

Dip in sales force retailers to seek rental rebates

A massive hit on sales due to the novel coronavirus scare has pushed numerous leading retail chains to seek rental rebates from malls.

Govt ropes in pvt sec to cure Corona patients

The government has asked private hospitals to earmark beds and isolation rooms and has given the green signal for about 50 diagnostic laboratories.

India to supplement its oil supply

Leveraging the low prices for oil from Saudi Arabia and the United Arab Emirates, India, the world's third biggest oil importer and consumer, is planning to top up its strategic petroleum reserves (SPR).

Indian macroeconomic outlook vulnerable: Fin Min

Given the disruption of trade with China due to the coronavirus outbreak, government on Monday said India's near-term macroeconomic outlook is vulnerable.

Corona effect: Airlines cut flights, jobs

The airline industry is facing the brunt of the rapid scale at which the is grappling with Covid-19 outbreak, as airlines made unprecedented cuts to flights, costs and staffing on Monday.

Covid-19 curbs cause 30% dip in digital payments

Owing to a sharp slowdown of industries and slower discretionary spends by consumers on dining out and movies, virtual payments sector is estimated to have registered a decline of around 30% in transaction value over the past few weeks.

Exports rise for the 1st time in 7 months

For the first time in the last 7 months, India's exports rose for the first time in seven months in February growing by 2.91% to US$ 27.65 billion.

Corona effect: India to aid SAARC contain the contagion

Taking charge of the battle against Coronavirus in South Asia, Prime Minister Shri Narendra Modi on Sunday held a video conference with the leaders of SAARC member nations to exchange their views.

Coal import dips to 14% due to coronavirus

A provisional compilation by mjunction services revealed that in the wake of the coronavirus outbreak, India's coal imports registered a decline of 14.1% to 17.01 million tonnes (MT) in February.

UN honcho calls for a joint response to recession

UN secretary general Antonio Guterres counselled governments to work together to stop the coronavirus pandemic from plunging the global economy into recession.

Auto cos to move SC for registering BS-IV vehicles

Auto industry wants to seek an extension to the deadline (31st March, 2020) beyond which they cannot sell Bharat Stage-IV vehicles since India will be switching to BS-VI emission standards from April 1, 2020.

CPI falls for the first time in 7 months

As prices of vegetables rose at a slower pace, retail inflation fell for the first time in 7 months to 6.58% in February compared with 7.59% in the preceding month.

Renewable energy projects gets Rs 1.34 lakh cr investment

Renewable Energy Minister Shri  R K Singh said in a written reply to the Lok Sabha that between April 2017 and January 2020, renewable energy projects attracted investment worth INR 1.34 lakh crore.

Exporters likely to lose US$1 bn in Feb exports

Owing to the fact that countries are shutting their borders and order cancellations, exporters are bracing for at least a US$ 1 billion decline in outward shipments in February.

30% dip in handset sales anticipated in April-June

Market intelligence firm TechArc is anticipating a 25-30% dip in April-June sales as inventory replenishment will not happen at the desired rate owing to the rampant scale at which the Coronavirus is expanding.

Medical visas to be granted on case-to-case basis

Indian authorities have decided to consider requests from foreign nationals holding medical visas on a case-by-case basis.

India’s diamond exports plunge 41%

Diamond exporters are feeling the ripple effects of Coronavirus as the polished diamond export from India witnessing its steepest fall this February.

India shuts doors for outsiders until 15 April

India is under a self-imposed quarantine and has shut doors for nearly all outsiders. This comes at a time when India’s count of infected people is at 62.

National strategy for AI in the pipeline

Planning Minister Shri Rao Inderjit Singh said that government will soon finalize the mechanism to implement the national strategy for artificial intelligence.

Sanofi loses patent for insulin device

Biocon & its partner, Mylan, have won a patent case in the US District Court of New Jersey against Sanofi’s patent on the insulin Glargine device.

Exporters jittery about Corona impact

The country’s exporters are finding themselves tackling an array of challenges that have arisen in the face of the rampant outbreak of Coronavirus.

Corona might boost agri exports

Agriculture Ministry has chalked out 21 commodities in which Indian exports could benefit from trade restrictions against Chinese goods.

12.6% jump in India’s thermal imports

Government data has revealed that India's thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019.

Tata Steel Europe planning to lay off 1,250 jobs

Owing to challenging circumstances in which it finds itself & the need to boost profitability, Tata Steel Europe is planning to cut 1,250 jobs.

4 AAI-run airports have the world’s best aerodromes

Airports Council International (ACI) has ranked 4 of India’s airports run by the Airports Authority of India (AAI) as those with the world’s best aerodromes.

IMF wants substantial stimulus to tide over Corona

IMF has opined that governments across the world should deploy "substantial" stimulus and international coordination to counteract the economic impact of the spreading coronavirus epidemic.

Oil markets affected by crude war

For the first time in about 28 years, oil markets fell the most since the US war in Iraq, 1991, due to a collapse in demand due to the coronavirus.

No need to worry about the safety of deposits in banks

The country’s central bank on Sunday assured depositors that there is “no concern regarding the safety of their deposits in any bank”. “Concern has been raised in certain sections of media about the safety of deposits of certain banks. This concern is based on analysis which is flawed. Solvency of banks is internationally based on […]

Sensex dips 2,000 points

Yesterday, the BSE Sensex was trading 2009.20 points, or 5.375 per cent, lower at 35,567.42 Nifty plunged 547 points, or 5.11 per cent, to 10,431.

Trade talks with US favour India: Piyush Goyal

Commerce and Industry Minister Shri Piyush Goyal on Saturday said that India’s trade negotiations with the US would open more opportunities for exports.

Corona takes a toll on auto cos.

India's automakers & electronic goods manufacturers have to pay high rates to fly down spares & components from China and South Korea on chartered flights.

DCGI approves world’s first drug to treat liver disease

The Drug Controller General of India (DCGI) approved Zydus Cadila’s new drug application for Saroglitazar to treat a particular condition of liver.

Ultra-wealthy Indians to double in 5 Yrs: Study

Knight Frank’s Wealth Report 2020, projects the number of ultra-high-net-worth individuals (UHNWIs) in India to grow by a whopping 73% in the next five years.

Coronavirus is the time to boost intl. supply: India inc

Industry experts are of the opinion that time is ripe for India to capitalize on the supply chain disruption in China owing to the outbreak of coronavirus and to acquire new markets for Indian manufacturing besides a lesson in risk management.

Lucknow’s Jewar airport gets international recognition

Lucknow’s Jewar airport has been recognised in the CG LA Infrastructure list of the world's 100 strategic global infrastructure projects for the year 2020.

Firms prepare to produce masks & sanitizers

Amidst the escalating instances of Coronavirus being reported in the country, firms are gearing up to meet sanitizers and masks demand.

MNCs turning away from China to India

In the wake of trade protectionist measures and rising risks because of coronavirus, a number of Multinational Companies are looking to diversify their supply chains away from China, to India.

2 IITs in top engg. Colleges list: QS World ranking

According to subject-wise QS World Ranking, Indian Institute of Technology (IIT) in Mumbai (rank 44) and Delhi (rank 47) are among the top 50 engineering colleges across the globe.

Corona to cause US$ 50 bn dip in world exports: UN

United Nations announced a likely USD 50 billion drop in the worldwide manufacturing exports in February’20 owing to the impact of the novel coronavirus (COVID-19).

SC allows trading in virtual currency

On Wednesday, the Supreme Court lifted the ban on trading in cryptocurrency imposed by the Reserve Bank of India in April’18.

OECD lowers India’s FY21 GDP growth to 5.1%

Latest OECD forecasts have dimmed, India's real GDP growth to 5.1% during the fiscal year starting 1 April, 2020 and improve to 5.6% in the following year.

Indian iron ore exports spur

On account of robust demand from China, India’s overall pellet exports were at 12.86 mt in 2019 compared with 8.42 mt in 2018.

RBI mulls rate cuts to shield the economy from Corona

Shaktikanta Das told reporters that he’s ready to act to shield the economy from the coronavirus and reiterated there’s room to cut interest rates if needed.

Bill to amend banking laws

Finance Minister Smt. Nirmala Sitharaman introduced a bill in Lok Sabha which seeks to protect the interest of small depositors by bringing cooperative banks under the RBI regulations.

Reason to cheer for auto firms: Pmt. moots GST cut

On Tuesday, after perusing Demands for Grants 2020-21 of Department of Heavy Industry (DHI), a parliamentary panel suggested lower GST rate for the automobile segment at least until it revives.

Govt lifts ban on onion exports w.e.f. 15 March

The Ministry of Commerce & Industry on Monday said that the curbs on onion exports will be lifted from 15 March.

M A Yusuff Ali: First Indian with Saudi green card

Indian retail tycoon M A Yusuff Ali, the chairman of the LuLu Group, has become the first Indian to receive Saudi Arabia's premium residency.

Business travel hit as coronavirus spreads

With the dissemination of coronavirus from China (the source of its germination) to Southeast Asia, the Far East and Europe, companies across the world are imposing restrictions on business travel by staff.

Reason to cheer for Indian IT: Healthy outlook from US banks

According to industry analysts, the fact that US banks, including Citibank, JP Morgan, Goldman Sachs, Wells Fargo and Bank of America have said they would continue to invest in technology is a reason to celebrate for the Indian IT industry.

Indian VC industry sees US$10 bn investment in 2019

Bain & Company's India Venture Capital Report 2020 revealed that Indian VC industry is riding high as it invested US $10 billion (over ₹72,000 crore) in 2019.

India bags US$40 mn defence deal with Armenia

Beating Russian and Polish firms, India has managed to bag a US$ 40 Million defence export deal owing to the reliability of the Indian system vis-à-vis its counterparts.

Jan’s bank credit growth dips to 8.5%: RBI

RBI data has recently revealed that Bank credit growth declined to 8.5% in January from 13.5% in last January.

Govt to promote MSMEs: Nitin Gadkari

Union minister Shri Nitin Gadkari on Sunday said the government will give a major boost to the micro, small and medium enterprises (MSMEs) in the country.

Countries sensitive to remove trade barriers: Jaishankar

India’s Foreign Affairs Minister S. Jaishankar said that countries urging India to be more open are themselves sensitive to remove trade barriers.

50% acceleration in Coronavirus cases in Italy

According to the authorities in Italy, the epicenter of coronavirus outbreak in Europe, on Sunday, the total number of people infected in Italy had risen to 1,694, a 50% jump from just 24 hours earlier.

NZ wants a bilateral deal if India doesn’t join RCEP

New Zealand has stated that if India does not join the China-backed mega trade deal RCEP, then New Zealand would like to seal a bilateral trade agreement with India.

Industry fears that global recession may accompany coronavirus

Countries have started stockpiling medical equipment and virus-related disruptions to international travel and supply chains have fuelled fears of recession in the United States and the Euro zone.

Indian shared economy to be US$ 2bn industry

A recent report by Maple Capital Advisors titled 'Shared Economy - India Story' stated that shared economy in India is poised to become a USD 2 billion industry by the end of the year.

India’s gas demand to rise by 66% in 5 years

Elara Securities said in a recent report that India’s gas demand is at an inflection point and expected to rise 66% from 148 million standard cubic meters per day in 2018-19 to 250 mmscmd by FY25.

Indians, the fastest growing nationality for UK student visas

The UK's Office for National Statistics (ONS) found that Indians have emerged as the fastest growing nationality for student visa applications to the United Kingdom.

India among the top 3 nations with max. billionaires: Study

The findings of the 2020 Hurun Global Rich List have announced that with 138 billionaires in total, India is home to the most numbers of billionaires after China (799) and the US (626).

7.8% rise in Business Confidence Index

The latest survey released by National Council of Applied Economic Research (NCAER) divulges that after hitting a six-year low in August-October, India’s business confidence rose by 7.8% from the preceding quarter to 111.2

Investors skeptical about 5G transition: EY study

A recent survey report by EY reveals that numerous enterprises across the globe making investments in next generation 5G technology are uncertain about the transition.

Govt lifts export ban on 8 commodities

A recent notification by the Directorate General of Foreign Trade (DGFT) has said that the government has removed eight more items, including a kind of gas mask and surgical blades, from the list of banned export items.

India wants changed method to ascertain digital tax

India is pushing for a major change at Organisation for Economic Cooperation and Development (OECD) on methodology at determining taxability in every jurisdiction.

SEA urges govt to stop issuing further licence for palmolien imports

Solvent Extractors Association of India (SEA) urged the government to stop issuing further licences for the import of palmolien in a representation to the Commerce & Industry Ministry.

Transit retail to grow to US$ 21.6 billion by 2030: Report

A recent Knight Frank India report has shown that transit retail opportunity is estimated to grow to US$ 21.6 billion by 2030, while private operators are expected to see lease rental opportunity of US$ 3.2 billion by then.

India and US seal 3 deals

On Tuesday, India and the US inked three MoUs, including one to synergize their cooperation in the energy sector.

India-US to fast track deal talks: Piyush Goyal

Commerce & Industry Minister Shri Piyush Goyal on Tuesday said India and the US will fast track talks for a larger free trade agreement (FTA) and get into its legal vetting soon.

India to import more oil & gas from USA

Taking their strategic partnership a step forward, India & US concluded a pact for the supply of US gas to India.

GAIL to invest in infra for gas-based economy

India’s largest gas utility, GAIL India Ltd has decided to invest Rs 1.05 lakh crore over the next five years to expand pipelines, lay city gas distribution network and raise petrochemical production capacity.

Rise in online payments: RBI

The Reserve Bank of India on Monday said it will strive to make digital payments a divine experience for the users.

India to block EU’s DSM request

According to official sources, India will block the European Union’s request for a dispute settlement panel at the World Trade Organization (WTO).

Airlines to lose almost US$ 30 bn due to Coronavirus

According to the forecast, in total, airlines in the Asia Pacific region are set to see a US$ 27.8 billion revenue loss in 2020, while those outside Asia are expected to lose US$ 1.5 billion in revenue.

Even limited deal unlikely during Trump’s trip: US Officials

Trump administration officials on Friday ruled out the possibility of even a limited trade deal during US President Donald Trump’s maiden trip to India.

J&K inks Over Rs 2,100 Crore MoUs during Investment Summit

Jammu & Kashmir has signed Memorandums of Understanding (MoUs) worth over INR 2,100 crore during its investment summit roadshow in Mumbai.

US: India’s new top trade partner

2018-19 data from the Commerce & Industry Ministry has revealed that surpassing China, the USA has emerged as India’s top trading partner.

Import licences for 1.1 MT of refined palmolein from Indonesia

The Directorate General of Foreign Trade (DGFT) has issued import licences for 1.1 million tonnes of refined palmolein sourced from Indonesia.

Revenue Dept issues new exchange rate notification

Exercising the powers conferred by section 14 of the Customs Act, 1962 (52of 1962), the Central Board of Indirect Taxes and Customs, Department of Revenue has issued new exchange rates.

INR 4,558 crore scheme for dairy farming

The union cabinet has approved an INR 4,558 crore scheme to promote the dairy sector. The scheme will benefit about 95 lakh farmers in about 50,000 villages.

Importers face tougher scrutiny in Finance Bill, 2020

The Finance Bill, 2020, is set to levy stricter norms to tighten scrutiny over businesses claiming customs duty relief meant for imports from India’s free trade agreement (FTA) partner countries.

India urges EU to reduce NTBs

During the EU’s trade policy review at the World Trade Organization (WTO), India opined that the non-tariff barriers such as maximum residue level (MRL) limits imposed by EU on food products are much higher than the limits set by the standard setting agencies such as CODEX, and trade restrictive.

Trump optimistic about deal with India

Ahead of his India visit, US President Donald Trump expressed optimism about striking substantial deals with India.

Unique Fragrance Director bags 1st prize for excellence in exports

TPCI’s member, Mr. Rajat Luthra, Director, Unique Fragrances bags the first prize for excellence in exports.

US$ 2.6 bn helicopter deal during Trump visit

President Trump’s maiden visit to India is likely to be a reason for celebration for American defence manufacturer Lockheed Martin Corp as the two sides are likely to ink a US$ 2.6 billion deal for New Delhi to buy 24 Seahawk helicopters.

Consumer durables growth likely in Q4’20

According to an official source, a 15% growth in consumer durables segment is expected in the last quarter taking the sector's expansion in 2019-20.

Govt mulls ways to boost domestic API production

The Drug Regulatory Authority is preparing a list of APIs for which India is very dependent on Chinese imports.

India US ink IPR Pact

The union cabinet has given its green signal to a plan to sign an initial pact on intellectual property rights with the United States.

Flexible solar projects delayed by coronavirus

If developers are able to prove that they have been impacted after coronavirus hit supplies from China, India might extend their deadlines for completing solar energy projects.

SEZ exports cross US$100 bn mark by mid-Feb ‘20

An official release said on Tuesday that exports from SEZs have crossed $100 billion mark by mid-February in the current financial year.

Dairy access issue halts India-US trade deal

After US has sought access for its dairy industry without addressing New Delhi’s concerns on the issue, the possibility of a trade deal between the two nations is bleak.

Subdued growth in Asia-Pacific in 2020

Citing the protracted impact of the Covid-19 outbreak in China, Moody’s Investor Services has lowered its growth forecast for the Asia-Pacific region to 5.2% for 2020.

Women entrepreneurs can create 170 mn jobs

A joint report titled ‘Women Entrepreneurship in India – Powering the economy with her’ by Bain & Company and Google has revealed that women in entrepreneurship can generate transformational employment in India with 150–170 million job opportunities.

Corporate sector moots ways to combat the coronavirus effect

The corporate sector suggested a few measures to the Finance Minister Smt. Nirmala Sitharaman and her team of officials in a meeting of nearly 20 sectors on Tuesday.

FSSAI to roll out hygiene ratings for meat shops

Amidst the rapidly rising threat of the spread of Coronavirus in India, the country’s food regulator – FSSAI is in the process of introducing hygiene ratings for meat shops.

Goyal tells industry to enhance export basket

Commerce and Industry Minister Shri Piyush Goyal asked the industry to look for ways to expand India’s export basket by adding more value-added products.

Lithium reserves found near Bengaluru

Reserves of lithium, a rare metal critical to build batteries for electric vehicles, have been discovered in Mandya, 100 km from Bengaluru.

India is 5th largest economy: World Population Review

US-based think tank World Population Review in its report declared India to be the fifth largest economy in the world in 2019.

India’s trade data out for Apr-Jan 2019-20

Taking merchandise and services collectively, overall trade deficit for April-January 2019-20* is estimated at US$ 64.16billion as compared to US$ 97.79billion in April-January 2018-19.

Coronavirus to hit global growth in 2020: IMF

The Managing Director of the International Monetary Fund, Kristalina Georgieva, opined that the coronavirus epidemic could damage global economic growth this year.

US to host world’s 1st yoga university outside India

The world's first yoga university outside India – Vivekananda Yoga University (VAYU) – has established its initial campus in Los Angeles, USA, with a budget of US$ 5 million.

Govt mulls export restrictions on 12 essential drugs

To ensure there is no shortage of essential drugs in India due to the lockdown in China’s Hubei’s province, the government is considering putting a stop to the exports of 12 essential drugs.

India-Russia discuss crude oil imports

The long term crude oil deal is likely to be inked during Russian President Vladimir Putin's visit in October for the annual summit talks with Prime Minister Shri Narendra Modi, which aim to enhance India’s trade with Russia from US$ 11 billion at present to US$ 30 billion by 2025.

DGFT asks EU-GSP Registered Exporters to submit fortnightly statements

They also have to respond to verification requests by European Union (EU) within prescribed time limit, failing which the Registered Exporter Number (REX) may be annulled.

Piyush Goyal looks for strategies to boost exports

He spoke about the potential of textile sector to increase exports to US$ 100 billion in the next 10 years from the current level of about US$ 37 billion.

6% yoy dip in India’s veg oil imports in Jan’20: SEA

Import of refined oil (mainly RBD palmolein) decreased from 4,06,799 tonnes during first quarter of existing oil year to 2,66,859 tonnes.

Jewellery industry seeks lower import duty on gold

On Thursday, the gems and jewellery industry approached the government with demands pertaining to more flexible taxation laws & lower import duties on gold.

Residential realty sees recovery signs

The optimistic observation is based on the sector’s performance during the October-December 2019 period. 27 out of 35 cities recorded a 5% quarter-on-quarter increase in home sales in the third quarter of FY20.

Coronavirus effect: demand for sanitizers & masks shoots

All Food and Drug License Holders Foundation (AFDLHF) reveals that the total market for masks has jumped up from about INR 200 crore annually to INR 450 crore over the last two months.

Coronavirus, a opportunity for Indian exporters: CEA

Chief Economic Advisor Krishnamurthy Subramanian said on Wednesday that the coronavirus outbreak in China provides an excellent opportunity for India to expand export.

Indian economy faces headwinds

The statistics office has lowered the FY19 GDP growth rate to 6.1% from the provisional estimate of 6.8% and has forecast 5% growth in FY20.

Dr Reddy’s acquires Wockhardt’s India formulations

What has motivated DRL to diversify its market is the fact that it has been grappling with regulatory actions by the US Food and Drug Administration (FDA).

Nasscom predicts Indian IT sector growth to be 7.7% in FY20

The latest survey, also pointed out that 57% of IT sector CEOs expect FY21 growth to be similar or better than FY20.

Coronavirus takes a toll on cell phone production

China plays an integral part in the supply chain: while battery and some camera modules are made in Vietnam, displays and connectors are majorly made in China.

From April 1, CDSCO to monitor medical devices

According to the latest notification by the Ministry of Health and Family Welfare, from 1st April’20, all medical devices, including implants and contraceptives, will be brought under the lens of the Central Drugs and Standard Control Organization (CDSCO).