Mumbai, May 29: The country is poised to remain the fastest growing major economy in the world even in FY26, the Reserve Bank said on Thursday. The benign inflation outlook and a moderation in GDP expansion warrant the monetary policy to be supportive of growth going forward, the RBI said in its annual report. the Indian economy is poised to remain the fastest-growing major economy in 2025-26 by leveraging its sound macroeconomic fundamentals, robust financial sector and commitment towards susta

BEIJING, May 28: European companies are cutting costs and scaling back investment plans in China as its economy slows and fierce competition drives down prices, according to an annual survey released Wednesday. Their challenges reflect broader ones faced by a Chinese economy hobbled by a prolonged real estate crisis that has hurt consumer spending. Beijing also faces growing pushback from Europe and the United States over surging exports. The picture has deteriorated across many key metrics, the

NEW DELHI, May 28: Panattoni India will invest about Rs 210 crore to develop a 25-acre industrial and logistics park at Hosur in Tamil Nadu as part of its expansion plan. This will be the second project for Panattoni in India. It is already developing a project in the Delhi-NCR market. Panattoni India Development Pvt Ltd is a part of the Panattoni Group, one of the largest industrial real estate developers in the world. Our foray into the Hosur [] The post Panattoni India to invest Rs 210 cr to

NEW DELHI, May 27: Maruti Suzuki India on Tuesday said it has launched a comprehensive training program to handle high voltage systems required for electric and hybrid vehicles. The customised training program has been introduced across 130 Industrial Training Institutes (ITIs) in 24 states and four Union Territories across the country, the countrys largest carmaker said in a statement. The training will serve as one of the critical key enablers in faster adoption of EVs in the country, it [] T

NEW DELHI, May 27:BMW India on Tuesday said it is offering its flagship electric sedan BMW i7 at an uniform ex-showroom price across the country, inclusive of registration charges and GST and compensation cess, with an aim to ensure price parity to customers regardless of location. The current ex-showroom price of BMW i7 is Rs 2.05 crore. Under the new pricing, customers will not incur the registration cost for BMW i7, as it will be borne by BMW India [] The post BMW offers electric sedan BMW i

NEW DELHI, May 26: NITI Aayog member Arvind Virmani on Monday said India is set to become the fourth largest economy in the world by overtaking Japan by the end of 2025. The International Monetary Fund (IMF), in its World Economic Outlook (WEO) report released in April had said that India is expected to be the fourth largest economy in the world with a GDP of USD 4.19 trillion in 2025, ahead of Japan. India is in the process of [] The post India to become 4th largest economy by end of 2025: NITI

New Delhi, May 26: The Enforcement Directorate has said it seized cash of Rs 1.70 crore and documents related to immovable assets during searches conducted against Jaypee Infratech Ltd (JIL), Jayprakash Associates Ltd (JAL) and other entities in an alleged homebuyers fraud case linked money laundering investigation. The raids were carried out at 15 premises in Delhi, Noida, Ghaziabad and Mumbai on May 23 under the Prevention of Money Laundering Act (PMLA). The search covered offices and premises

Development proves prophets of doom wrong Nishikant Khajuria JAMMU, May 25: Union Minister Dr Jitendra Singh today said that coinciding of Operation Sindoor with Indian economy rising to rank four in world establishes the countrys recent assertive and confident global posture under the leadership of Prime Minister Narendra Modi. In a rapid stride and giant leap towards Viksit Bharat, Indias economy has overtaken Japan rising from rank 5 to rank 4 and let us not forget that this development has [

NEW DELHI, May 25: India has become the fourth largest economy in the world, overtaking Japan, NITI Aayog CEO BVR Subrahmanyam has said. Subrahmanyam said the overall geopolitical and economic environment is favourable to India. We are the fourth largest economy as I speak. We are a USD 4 trillion economy as I speak, he said. Citing IMF data, Subrahmanyam said India today is larger than Japan. Till 2024, India was the fifth-largest economy in the world. It is only [] The post India has become 4t

New Delhi, May 25: India has become the fourth largest economy in the world, overtaking Japan, NITI Aayog CEO BVR Subrahmanyam has said. Subrahmanyam said the overall geopolitical and economic environment is favourable to India. We are the fourth largest economy as I speak. We are a USD 4 trillion economy as I speak, he said. Click Here To Join Daily Excelsior on WhatsApp And Get Latest News Citing IMF data, Subrahmanyam said India today is larger than Japan. Till [] The post India Has Become 4t

New Delhi, May 24: The southwest monsoon reached Kerala on Saturday, marking its earliest onset over the Indian mainland since 2009 when it began on May 23, the India Meteorological Department (IMD) said. Normally, the southwest monsoon makes its onset over Kerala by June 1 and covers the entire country by July 8. It starts retreating from northwest India around September 17 and withdraws completely by October 15. The monsoon set in over the southern state on May 30 last [] The post Monsoon Reac

CHANDIGARH, May 24: Pharma major Venus Remedies on Saturday said it has successfully renewed its good manufacturing practices (GMP) certification from Ukraines State Service on Medicines and Drugs Control (SMDC). The certification applies to the companys Unit-II manufacturing facility located in Baddi, Himachal Pradesh, covering its cephalosporin, non-cephalosporin (carbapenem), and oncology parenteral production lines, including liquid and lyophilized injections, Venus Remedies said in a state

NEW DELHI, May 22: Century Real Estate has raised Rs 1,850 crore debt to expand its business and encash strong demand for properties. The company will use this fund in both ongoing and upcoming housing and commercial projects. In a statement on Thursday, Bengaluru-based Century Real Estate said it has secured Rs 1,850 crore in debt funding, led by Ares Asia and SC Lowy. The fund will help in driving the companys expansion strategy and supporting both new and [] The post Century Real Estate rais

NEW DELHI, May 22: IndusInd Bank may face muted financials in the medium to near-term, and the new MD and CEO will have an uphill task of resurrecting the bank and regaining investor trust, brokerages said on Thursday after the beleaguered bank reported its biggest net loss in 20 years. Most brokerages see downside in shares of IndusInd Bank, which posted a net loss of Rs 2,329 crore, marking one of the worst quarters in terms of both financial [] The post IndusInd Bank to report muted financia

NEW DELHI, May 22: Garments manufacturer and exporter SBC Exports on Thursday said it plans to launch the initial public offering of its travel and tour subsidiary Mauji Trip in the current financial year. The companys board has approved the proposal to launch the IPO of the wholly-owned travel arm in FY2025-26, the company said in a statement. Details and terms of the initial share sale and issue size will be announced in the due course subject to necessary [] The post SBC Exports plans to lau

NEW DELHI, May 21:Indias largest IT company Tata Consultancy Services (TCS) on Wednesday said it has clinched an add-on Advance Purchase Order (APO) for about Rs 2,903 crore from state-owned telecom corporation BSNL. The order is for planning, engineering, supply, installation, testing, commissioning and annual maintenance of 4G mobile network at 18,685 sites, TCS said in a regulatory filing. TCS said that detailed purchase orders will be issued by Bharat Sanchar Nigam Limited (BSNL) to the com

NEW DELHI, May 20:A NITI Aayogs working paper has proposed amendment and revision in defence laws to develop a resilient and efficient defence supply chain in the face of evolving geopolitical tensions, cybersecurity threats, and global supply chain disruptions. The Aayog in the working paper said a resilient and efficient defence supply chain is vital for national security and operational readiness, and it is imperative to develop a robust logistics strategy that ensures supply chain resilienc

NEW DELHI, May 19:Countrys largest lender State Bank of India (SBI) has cut fixed deposit rates by 20 basis points across tenors effective May 16. As per the banks website, the cut in interest rates on retail domestic term deposits below Rs 3 crore is applicable for both general public and senior citizens. Deposits for 2 years to less than 3 years gives the maximum interest to investors at 6.7 per cent, followed by 3 years to less than [] The post SBI cuts fixed deposit rates by 20 bps appeared

NEW DELHI, May 19:Agriculture Minister Shivraj Singh Chouhan on Monday said the country is likely to achieve 3.5 per cent farm sector growth rate during 2025-26, as he announced a pan-India 15-day campaign to educate farmers about new technologies before the ensuing kharif sowing. Globally, agriculture growth of 1.5-2 per cent is considered to be good. India is achieving at least 3 to 3.5 per cent growth rate. We expect to achieve 3-3.5 per cent growth even in the [] The post Indias farm sector

NEW DELHI, May 18: Indias coal import declined 1.7 per cent to 263.56 million tonnes in the 2024-25 financial year. The countrys coal import was 268.24 million tonnes (MT) in 2023-24. During 2024-25, non-coking coal import was 167.10 MT, lower than 175.96 MT imported in the previous year. Coking coal imports was at 54.08 MT in 2024-25 as against 57.22 MT in 2023-24. According to data compiled by mjunction services ltd a B2B e-commerce platform coal import in [] The post Indias coal import drop

NEW DELHI, May 17: Proactive efforts to secure export orders for rolling stock and diversify the client base have helped improve our revenue outlook for the coming years, RITES Ltd Chairman and Managing Director Rahul Mithal said. A Navratna public sector undertaking and leading transport and engineering consultancy company, RITES this week reported a 4.3 per cent decline in its consolidated operating revenue in the March quarter to Rs 615 crore compared to Rs 643 crore in the year-ago quarter.

TOKYO, May 16: The Japanese economy contracted at an annual rate of 0.7% in the first quarter, according to government data released Friday, as US President Donald Trumps trade war hurt exports and dented consumer confidence. Japans real gross domestic product, or the measure of a nations goods and services, shrank at a greater-than-expected 0.2% in January-March compared to the previous quarter in the first contraction in a year, the Cabinet Offices seasonally adjusted preliminary data showed.

MUMBAI, May 15: Financial technology firm Zaggle on Thursday said it has partnered with travel and expense solutions provider Mesh Payments to tap the global spend management market. Zaggle, in a statement, said that its association with Mesh Payments will enable Indian MNCs to manage global expenses across the US, Europe, and Latin America using Meshs capabilities to issue corporate cards in global markets. Meshs global clients operating in India, through their GCCs, can leverage Zaggles spend

NEW DELHI, May 15:Shapoorji Pallonji Real Estate (SPRE), in partnership with KREEVA and ASK Property Fund, on Thursday launched a luxury housing project in Gurugram with a revenue potential of Rs 1,400 crore. In October last year, Shapoorji Pallonji Real Estate (SPRE) formed a joint venture with Kanodia Groups real estate venture Kreeva to develop a residential project, spread over 1.75 acre, in Sector 46, Gurugram. On Thursday, SPRE launched this new project The Dualis comprising 198 [] The

Excelsior Correspondent SRINAGAR, May 13: Nearly 1.5 lakh people have been affected as the tourism economy comes crashing down following the Pahalgam terror attack, in which 26 tourists were killed. People directly associated with tourism-especially in Pahalgam-say they have been left with nothing, with hardly any tourists seen around. Ponywalas, nearly 4,000 in number, are among the worst hit. Many say they are struggling to feed their families, sitting idle at home. Nisar Ahmad Wani, a ponywal

Dubais real estate market has solidified its position as a global leader, attracting investors with its dynamic growth, innovative projects, and investor-friendly policies. In 2024, the emirate recorded 226,000 real estate transactions worth AED 761 billion, a 36% increase in volume from the previous year, driven significantly by off-plan developments. This article explores the factors propelling Dubais dominance in global real estate investment trends, spotlighting key off-plan projects that ex

NEW DELHI, May 13:Indias seven major cities will witness a fresh supply of 16.6 million (166 lakh) sq ft of prime retail spaces in shopping malls by the end of the next year, according to Anarock. Real estate consultant Anarock data shows that over 16.6 million (166 lakh) sq ft of Grade A supply will be added in new shopping malls, likely to open during the 2025 and 2026 calendar years. Hyderabad and Delhi-NCR will command the lions share [] The post Multiple shopping malls to open by 2026 in 7

NEW DELHI, May 12: Japanese small car major Suzuki Motor Corporation on Monday said overall passenger vehicle wholesale in the Indian market is expected to grow around 1-2 per cent in 2025-26, with the companys arm Maruti Suzuki looking to outpace industry growth. The company which has earmarked total capital expenditures of 380 billion yen for 2025-26 said investments in India will account for approximately 50 per cent of it with plans to increase production capacity of passenger vehicles. []

MUMBAI, May 12: Civil aviation authorities have decided to reopen 32 airports that were shut for civil flight operations following last weeks armed conflict between India and Pakistan, official sources said on Monday. A formal announcement regarding the resumption of operations at these airports is expected to be announced soon, the sources added. Civil flight operations from 32 airports across northern and western India, including Srinagar and Amritsar, were suspended from May 9 to May 15 due t

NEW DELHI, May 11: The domestic two-wheeler industry is expected to sustain growth momentum this fiscal, aided by income tax relief, enhanced spending on infrastructure and expectations of a normal monsoon, TVS Motor Company CEO KN Radhakrishnan has said. Overall, two-wheeler registrations rose 8 per cent to 1,88,77,812 units in FY25 compared to 1,75,27,115 units in 2023-24. Overall growth momentum in the domestic market, we are expecting, is likely to be like last year, Radhakrishnan told analy

NEW DELHI, May 9: With the IPL suspended, its broadcast and streaming rights holder JioStar on Friday said the company stands firmly committed to prioritise national interest over all other considerations, while extending support to the government and armed forces. The company said it will work with the BCCI to bring back IPL, which has been suspended for a week because of the deepening military confrontation between India and Pakistan, at an appropriate time. We, at JioStar, wholeheartedly sup

NEW DELHI, May 8: Auto components maker Uno Minda on Thursday said its board has approved setting up a new manufacturing plant for two-wheeler alloy wheels in Haryana at an investment of around Rs 200 crore. The company board has given its go-ahead for setting up the manufacturing facility at Bawal in Haryana with an installed production capacity of 15 lakh alloy wheels per annum, the company said in a regulatory filing. This capacity addition will cater for the [] The post Uno Minda lines up R

NEW DELHI, May 7: India, the worlds third largest oil importing and consuming nation, is likely to save as much as Rs 1.8 lakh crore on import of crude oil and LNG if the trend of softening international energy rates continues, Icra said Wednesday. India, which meets over 85 per cent of its crude oil needs through imports, spent USD 242.4 billion on buying crude from overseas in the fiscal year ended March 31, 2025. With domestic production meeting [] The post India to save Rs 1.8 lakh cr on im

NEW DELHI, May 7: Essar groups green logistics solutions provider GreenLine Mobility Solutions has partnered with Shriram Finance for the deployment of a new fleet of LNG-powered trucks, a statement said on Wednesday. GreenLine Mobility Solutions on Wednesday flagged off a new fleet of LNG-powered trucks at Chakan, Pune, the statement said. The deployment is supported by Shriram Finance Ltd, one of Indias largest NBFCs. GreenLine is an Essar venture and Indias only green logistics operator of L

New Delhi, May 6: Adani Power has won a contract to supply 1,500 megawatts of electricity to Uttar Pradesh at Rs 5.38 per unit for 25 years, sources said. The Uttar Pradesh Cabinet has approved signing of a Power Purchase Agreement (PPA) between Uttar Pradesh Power Corporation Ltd (UPPCL) and Adani Power for supply of thermal power for 25 years, they said. Uttar Pradesh had launched a tender to source power from a 1,600 MW thermal power plant to be [] The post Adani Power wins bid to supply 1,50

NEW DELHI, May 5: State-owned CIL on Monday said it has signed an MoU with UPRVUNL to set up a 500 MW solar power project in Uttar Pradesh. The development is a part of initiatives of Coal India Ltd in the green energy space and to meet the growing energy demand of Uttar Pradesh. Coal India Ltd (CIL) and UP Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL) have executed a non-binding Memorandum of Understanding (MoU) on May 5, 2025 at [] The post Coal India signs MoU with UPRVUNL to set up solar power p

NEW DELHI, May 2: Luxury carmaker Audi India on Friday said it will hike vehicle prices by up to 2 per cent from May 15 in order to partially offset the impact of exchange rate and input cost. The German automaker said the price hike would be across its entire model range in the country. We are implementing a price adjustment of up to 2 per due to increase in the exchange rate and input cost, Audi India Head [] The post Audi to hike vehicle prices by up to 2 pc from May 15 appeared first on Dai

NEW YORK, Apr 30: A discouraging report suggesting the US economy may have shrunk at the start of the year, before most of President Donald Trumps announced tariffs could take effect, is knocking US stocks lower today. The S&P 500 was down 2% in morning trading and on track to break a six-day winning streak. The Dow Jones Industrial Average was down 702 points, or 1.7%, as of 9:55 am Eastern time, and sharp drops for such AI superstars as [] The post Wall Street tumbles and S&P 500 drops 2% foll

Mumbai, Apr 28: The Reserve Bank of India on Monday asked banks to ensure that ATMs dispense Rs 100 or Rs 200 denomination notes to enhance the availability of these currency notes to the public. Banks and White Label ATM Operators (WLAOs) have to implement the direction in a phased manner. As part of an endeavour towards enhancing public access to frequently used denominations of banknotes, it has been decided that all banks and White Label ATM Operators (WLAOs) shall [] The post RBI Ask Banks

NEW DELHI, Apr 27:Reliance Industries Ltd has commissioned its first line for manufacturing of solar panels and is on track to build battery storage production facilities, the firm said in an investor presentation. Reliance Indias largest conglomerate whose interest spans from oil and petrochemicals to telecom and retail had in 2021 unveiled a USD 10-billion plan spanning renewables, storage and hydrogen as it chased net zero emissions status by 2035. First line of solar PV modules (has [] Th

NEW DELHI, Apr 26: Zydus Lifesciences on Saturday said the US health regulator has issued six observations after inspecting its Gujarat-based API manufacturing unit. We wish to inform that the US Food and Drug Administration (USFDA) conducted a surveillance inspection at the groups API (active pharmaceutical ingredient) unit located at Dabhasa in Gujarat, the drug firm said in a regulatory filing. The inspection was conducted from April 21-25, 2025. The inspection concluded with 6 observations

New Delhi, Apr 24: A probe conducted by the South Central Railway on the working hours of loco pilots has revealed that the crew officials forced loco pilots to work for 13-15 hours compromising safety of train operations. According to the norms, a loco pilot cant be asked to work more than 11 hours at a stretch. The matter came to light after a loco pilot of goods train, R Ravi Shankar from Secunderabad (SC) division, refused to attend to [] The post Railway probe reveals officials forcing loco

NEW DELHI, Apr 22: Hyundai Motor India Ltd on Tuesday said it has partnered with Indian Oil Corporation Ltd to explore viability for mass-use of Hydrogen fuel cell vehicles in India. The company has signed a Memorandum of Understanding (MoU) with Indian Oil Corporation, under which it has handed over one Hyundai NEXO Hydrogen FCEV to IndianOil for conducting real-world tests on Indian roads, Hyundai Motor India Ltd (HMIL) said in a statement. During the two-year trial period, HMIL [] The post H

GURUGRAM, Apr 22: Union Minister Pralhad Joshi on Tuesday said 40 GW of renewable energy (RE) can soon come online as talks are on with states for signing power purchase agreements (PPAs). We are targeting 50 GW of RE capacity annually to meet the 500 GW target by 2030 , which of course includes 292 GW of solar energy, Joshi told reporters on the sidelines of inauguration of solar PV module testing facility at National Institute of Solar Energy [] The post In talks with states for signing PPAs

NEW DELHI, Apr 21:The Indian real estate sector has received Rs 74,000 crore from Alternate Investment Funds (AIFs) till December 2024, highest among all sectors, according to Anarock. AIFs privately pooled funds that invest in non-traditional assets like private equity, hedge funds, and real estate offer niche, high-risk, high-reward opportunities suited for experienced investors. Real estate consultant Anarock has compiled Sebi data related to AIFs. Till December 2024, AIFs have cumulativel

NEW DELHI, Apr 21:Appliances & Consumer Electronics major Samsung is introducing artificial intelligence-based commands for vernacular languages and India-specific features to drive growth in the highly competitive domestic appliances market here, said executives of the South Korean company. The Chaebol is quite encouraged by the growth of the registered user base of the SmartThings app in India, currently ranked third globally. We have approximately 23 million registered users of SmartThings i

NEW DELHI, Apr 20: India may become a key supplier of rapeseed meal to China if Beijing eases its stringent trade restrictions on the commodity, according to industry body Solvent Extractors Association of India (SEA). A shortage of rapeseed meal in the European Union has driven global prices significantly higher. China, a major consumer, currently imports the protein-rich animal feed primarily from Canada and the EU. Given the current supply constraints and rising prices, India has a renewed o

Bhopal, Apr 20: The LPG Distributors Association on Sunday threatened an indefinite countrywide strike if their demands, including higher commission, are not met in three months. This decision was taken at the national convention of the association in Bhopal on Saturday, its president BS Sharma said in a release. A proposal has been approved by the members from various states about the charter of demands. We have also written to the Petroleum of National Gas Ministry about the demands of [] The

NEW DELHI, Apr 20:The Government has extended the deadline to early next month for public comments on the proposed rules on Coal Trade Exchange that will facilitate the dry-fuels trading as a commodity. Ministry of Coal had published the proposed draft legislations on Coal Trade Exchange for public consultation Ministry of Coal has decided to extend the last date for submission of comments/suggestions from April 6, 2025 till May 7, 2025, the coal ministry said on its website. The [] The post Co

NEW DELHI, Apr 18 : The Income tax department on Friday said DPIIT recognised startups are eligible for various tax exemptions and investments made in such companies are eligible for benefits and are not subject to scrutiny. However, investments in companies that do not meet the necessary conditions may be examined based on the risk management strategy followed by the department, the Income tax department said in a post on X, while replying to a tweet. Recognised startups that fulfil [] The post