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Anil Ambani, long overshadowed by his elder brother Mukesh Ambani, has faced significant setbacks over the years, with many of his businesses succumbing to debt and operational challenges. However, recent developments suggest a turning tide for the embattled tycoon, thanks to the efforts of his sons, Jai Anmol Ambani and Jai Anshul Ambani, who are […]
The Finance Ministry reported a remarkable reduction in the gross non-performing assets (NPA) ratio of scheduled commercial banks (SCBs), which fell to 2.67% in June 2024 from a peak of 11.18% in March 2018. This improvement underscores the strengthened asset quality of the banking sector. Simultaneously, the provisional coverage ratio (PCR)—an indicator of a bank’s […]
In a significant development for India’s electronics sector, leading firms like Samsung, Apple, Whirlpool, Dixon, and Havells have reported a decline in imports for the financial year 2023-2024. This marks the first drop in at least six years, reflecting the impact of India’s ‘Make in India’ initiative and the rising success of local manufacturing efforts. […]
Indian equity markets have outperformed Chinese counterparts since 2000, delivering real returns of 6.9% per annum, according to a recent Deutsche Bank report. This positions India among the top-performing emerging and developed markets, underscoring its growing significance in global financial landscapes. China, despite its rapid economic expansion, has seen more subdued stock market performance, with […]
Hindustan Aeronautics Limited (HAL) is set to restart operations at its Nashik facility, marking a pivotal moment for India’s defence manufacturing capabilities. The move follows a $1.3 billion production order approved in September 2023 for 12 new Sukhoi Su-30MKI fighter jets. The Nashik plant, historically a hub for Su-30MKI production, will play a critical role […]
India’s auto market experienced a significant boost in October 2024, with total two-wheeler sales soaring by 14.2%, reaching 21.64 lakh units, up from 18.96 lakh units in the same month last year, according to the Society of Indian Automobile Manufacturers (SIAM). This surge is attributed to strong consumer demand driven by the festive season, with […]
The rise of e-commerce is transforming India’s jewelry market, where buying gold has long been synonymous with a visit to a trusted family jeweler. The online jewelry market is anticipated to grow to $22 billion within the next three years, marking a significant shift in Indian retail. Industry leaders, such as Gitanjali Gems Ltd., India’s […]
Under Prime Minister Narendra Modi’s leadership, tax burdens for India’s middle-class citizens, particularly those earning under ₹20 lakh annually, have decreased significantly over the past decade. Conversely, tax liabilities for high-income individuals with annual earnings over ₹50 lakh have surged, according to data from 2023-24 income tax returns. A major shift has been seen in […]
Guwahati: The national oil firm, Oil India Limited (OIL), reported its highest-ever net profit for the fiscal year 2022–2023 (FY23) of Rs. 6,810.40 crores. This represents a 75.20% increase year over year (YoY). The company’s increased operational income and rising oil and gas production were major contributors to its net profit. Operating income for OIL […]
Guwahati: According to official data issued by the Ministry of Commerce and Industry, wholesale inflation in India, as measured by the Wholesale Price Index (WPI), turned negative in the month of April at minus 0.92 percent for the first time in three years. Notably, it occurred most recently in July 2020. As of March, the […]