Category: Business & Economics

FM Nirmala Sitharaman Projects Robust 7.2% GDP Growth for India in FY25

Manish Kumar

India’s economic outlook for the fiscal year 2024-25 is optimistic, with Union Finance Minister Nirmala Sitharaman projecting a real GDP growth rate of 7.2 percent. This announcement was made at the 50th International Monetary and Financial Committee (IMFC) meeting on October 26. The Press Trust of India reported on the finance minister’s detailed presentation of the nation’s economic drivers and future goals. Key Drivers of Growth: Investment and Consumption Sitharaman emphasized that the projected growth is primarily driven by robust investment and consumption. The government’s strategic focus on these areas…

Turbostart Launches TS Bridge: A New Chapter Begins

Manish Kumar

New Delhi – Turbostart, a global sector-agnostic venture capital platform, marked its 5th anniversary with the launch of TS Bridge, an innovative investment platform designed to democratize access to high-potential startups. The celebratory event, held at The Leela Palace Hotel in Bengaluru, brought together industry leaders, investors, and startup founders to commemorate this significant milestone. TS Bridge sets higher standards in the startup investment landscape, offering investors the unique opportunity to invest in high-potential startups along with Turbostart itself. Through two distinct investment categories – Scout, focusing on campus-led innovation, and Rise, catering…

BSNL Gains Ground as Private Telecom Giants Lose Subscribers Amid Tariff Hikes

Manish Kumar

BSNL’s Surprising Subscriber Surge In a notable shift within India’s telecom landscape, the state-owned Bharat Sanchar Nigam Limited (BSNL) saw significant subscriber gains for the second consecutive month, even as private telecom giants Reliance Jio, Bharti Airtel, and Vodafone Idea experienced declines. According to the latest Telecom Regulatory Authority of India (TRAI) report, BSNL added 25.3 lakh new subscribers in August, building on a gain of 29.3 lakh in July. Meanwhile, India’s net mobile subscriber base saw a drop of 57.7 lakh users in August, a steeper loss compared to…

Sensex Dips Below 80,000: Is China Stealing Dalal Street’s Diwali Sparkle?

Manish Kumar

Market sees volatility as foreign investors shift focus amid weak Q2 earnings Market Decline Continues as Foreign Investors Pull Out Indian stock markets are reeling from a wave of volatility, with the Sensex dipping below the 80,000 mark amid continuous foreign investor exits. On Friday morning, the Sensex dropped by 628.64 points, touching 79,436.52, while the NSE Nifty50 lost 254.30 points, trading at 24,145.10. This steep slide reflects growing caution among investors who have been shaken by weak Q2 earnings and a massive withdrawal of funds by Foreign Institutional Investors…

Amaravati Drone Summit 2024: Paving the Way for an International Drone Hub

Manish Kumar

Over 5,000 Drones Set to Participate Amaravati, the capital of Andhra Pradesh, is hosting the highly anticipated Amaravati Drone Summit 2024, a two-day event that begins today. Organized by the Andhra Pradesh Drone Corporation, the summit will showcase over 5,000 drones and bring together industry experts, researchers, students, and innovators. The event, supported by the Ministry of Civil Aviation, the Confederation of Indian Industry, and the Drone Federation of India, is taking place at Punnami Ghat on the banks of the Krishna River. Union Civil Aviation Minister Kinjarapu Ram Naidu…

Nine IPOs Worth Rs 11,000 Crore to Hit the Market Next Week Amid Positive Sentiment

Manish Kumar

Three Major Listings Also Set to Take Place, Including Hyundai Motor India Despite the ongoing correction in the equity markets, the momentum in the primary market remains strong, with nine Initial Public Offerings (IPOs) worth nearly Rs 11,000 crore set to launch next week, starting from October 21. Both the mainboard and SME segments are gearing up for a flurry of activity, and three companies, including Hyundai Motor India, are scheduled for listing. While the benchmark indices—Nifty 50 and BSE Sensex—have experienced corrections for three consecutive weeks, experts believe that…

Aspire Startup Program Showcases over 900 Startups; Facilitates 500 Investor Meetings, 100+ Mentoring Sessions at IMC 2024

Manish Kumar

Propels Tech & Telecom Innovation across sectors such as 5G applications, AI, Deep Tech, Green Tech and Smart Mobility Witnesses launch of STPI LEAP AHEAD 2.0 program for mentorship and funding up to Rs 1 crore New Delhi, 18th October 2024 – The India Mobile Congress (IMC) 2024, Asia’s largest telecom, media and technology forum, being held at Pragati Maidan from October 15-18, set the stage for a transformative future, featuring over 900 startups under its flagship startup program, Aspire, aimed at driving innovation across diverse sectors. Aspire, IMC’s flagship startup program provided…

Kotak Mahindra Bank to Acquire Standard Chartered’s $488 Million Personal Loan Portfolio: Strategic Move in India’s Expanding Loan Market

Manish Kumar

Kotak Mahindra Bank has announced its decision to acquire the personal loan portfolio of Standard Chartered Bank in India, a move that highlights Kotak’s aim to strengthen its position in the country’s highly competitive personal loan sector. The acquisition, valued at $488 million (Rs 41 billion), reflects both banks’ strategic shifts as they focus on different market segments in India. Kotak Mahindra Bank and India’s Personal Loan Sector Kotak Mahindra Bank, one of India’s leading financial institutions, is known for its diversified banking services, ranging from retail loans to wealth…

India’s Path to Becoming the World’s Third-Largest Economy by 2030: Opportunities and Challenges

Manish Kumar

India is on a rapid trajectory toward becoming the world’s third-largest economy by 2030, according to a recent report from S&P Global. With its expanding middle class, robust economic growth, and burgeoning industrial sectors, India is set to surpass major economies, trailing only the United States and China. However, alongside these promising developments, the country faces critical challenges, particularly from its growing population, which threatens to strain its infrastructure and resources. India’s Economic Surge: A Global Shift According to S&P Global, India is well-positioned to become the fastest-growing major economy…

Akash Ambani Calls for Indigenous AI Development and Data Sovereignty in India

Manish Kumar

Emphasizing the Future of AI in India Speaking at the India Mobile Congress 2024 in New Delhi, Reliance Jio Infocomm Chairman Akash M. Ambani called for the urgent development of indigenous artificial intelligence (AI) capabilities in India. Highlighting AI as “the most revolutionary tool of transformation invented by the human mind,” Ambani stressed the need for a robust national AI infrastructure that will revolutionize sectors such as manufacturing, agriculture, healthcare, and education. “AI will disruptively transform every aspect of our lives, society, and economy,” said Ambani. He projected AI to…