NEW DELHI, Sept 17: ICICI Bank on Wednesday said tax authorities have slapped a demand notice of Rs 49.11 crore on it for alleged short payment of GST. In a regulatory filing, ICICI Bank said, on September 15, 2025, it received an order in appeal under section 107 of the West Bengal Goods and Services Tax Act, 2017, from Additional Commissioner of Revenue (Appeals), West Bengal, raising a demand amounting to Rs 49.11 crore (tax Rs 23.52 crore interest [] The post ICICI Bank gets Rs 49 cr GST de

NEW DELHI, Sept 17:The Government is working on a Rs 5,000 crore scheme to promote adoption of clean steel-making technologies, thereby reducing carbon emissions, Steel Secretary Sandeep Poundrik said on Wednesday. The senior ministry official made the remarks while speaking to PTI on the sidelines of the FT Live Energy Transition Summit India in the national capital. The proposal is under consideration for a National Mission for Sustainable Steel. It is a Rs 5,000 crore scheme, he said. The []

Visakhapatnam, Sep 17: Union Finance Minister Nirmala Sitharaman on Wednesday said the Next Gen GST reforms have infused Rs 2 lakh crore into the economy, which has left people with more cash on hand, which otherwise would have gone to taxes. Addressing the Outreach and Interaction Program on Next Gen GST Reforms, she also said, following the tax reforms, 99 per cent of goods under 12 per cent GST slab have moved to five per cent. The rejig has resulted [] The post GST Reforms Injected Rs 2 Lakh

NEW DELHI, Sept 17: Indias exports to the US are falling as high tariffs imposed by the Trump administration have started eroding the price competitiveness of domestic goods in Washington, think tank GTRI said on Wednesday. August shipments to the US plunged to USD 6.7 billion, down 16.3 per cent from July the steepest monthly fall of 2025 as US duties doubled to 50 per cent by months end, it said. In July, exports dipped 3.6 per [] The post Exports to US falling due to high tariffs: GTRI app

NEW DELHI, Sept 16: Diversified energy firm Avaada Group on Tuesday announced the commissioning of 11 solar power projects in Maharashtras Yavatmal district under the Mukhyamantri Saur Krushi Vahini Yojana 2.0 to provide reliable power for irrigation. The projects include a 4 MW plant at Kinhi, 3 MW each at Baldi and Dongarkharda, 2 MW each at Bansi and Patan,a 5 MW at Mhasola, 2 MW at Galwa, 4 MW each at Pathrad and Parjana, and 3 MW each [] The post Avaada Group commissions 11 solar plants in

MUMBAI, Sept 15: Domestic carrier IndiGo on Monday said it will deploy its maiden Airbus A321 XLR aircraft, which is scheduled to be delivered by the end of this year, on its Athens, Greece route from January next year. The Gurugram-based airline had earlier this year announced that it would launch its flight services to 10 international destinations this financial year. IndiGo is all set to bring home Indias first A321XLR by the end of 2025, and begin six [] The post Indigo to begin 6 weekly d

SRINAGAR, Sep 15: Jammu and Kashmir Lieutenant Governor Manoj Sinha on Monday flagged off the first cargo parcel train from the valley to Delhi which will provide a cheaper and reliable mode of transportation for perishable goods like fruits to terminal markets of the country. The cargo parcel train was flagged off from Nowgam railway station here and is scheduled to reach Delhi on Tuesday I am thankful to the prime minister as cargo service has been started. Every day [] The post First Cargo Pa

NEW DELHI, Sept 13:The National Company Law Tribunal (NCLT) has directed the erstwhile promoters of Hindusthan National Glass & Industries Ltd (HNG) to return Rs 42.46 crore, misappropriated by them, to corporate debtors within two months. The Kolkata bench of the NCLT also ordered the Resolution Professional of the debt-ridden company to institute criminal prosecution against suspended directors Sanjay Somany and Mukul Somany under Section 69 of the Insolvency and Bankruptcy Code. The tribunal

JEDDAH, Sept 13:Indian jeweller Senco Gold & Diamonds is seeking collaboration opportunities in Saudi Arabias USD 8.3 billion luxury market as the company pursues Gulf expansion while targeting 20 per cent domestic growth, its chief executive has said. Senco Gold took part in the three-day Saudi Arabia Jewellery Exhibition (SAJEX), which concluded on Friday. The trade show featured over 200 Indian exhibitors as Indias gem and jewellery sector aims to reverse declining exports to one of the regio

NEW DELHI, Sept 12: GMR Airports on Friday said it has set up a special purpose vehicle to implement the cargo city project at Indira Gandhi International Airport (IGIA) in the national capital. According to a regulatory filing, GMR Cargo and Logistics Ltd was incorporated on September 11 for undertaking the project as well as other cargo and logistics-related opportunities. The project was awarded by Delhi International Airport Ltd (DIAL), a subsidiary of GMR Airports, which operates IGIA. The

KOLKATA, Sept 10: Corporates may turn to commercial banks to meet their credit needs due to hardening of bond yields in the debt market, an official of State Bank of India (SBI) said on Wednesday. Rama Mohan Rao Amara, managing director (international banking and global) markets of SBI, said that corporates are now coming to banks to meet their credit demands.. What we have seen is that issuance of debt paper volumes has come down in the current quarter. In [] The post Corporates may go to banks

NEW DELHI, Sept 9:Bajaj Auto on Tuesday announced that it would fully pass on the recent GST reduction to customers, offering Rs 20,000 on two-wheelers and KTM motorcycles, and up to Rs 24,000 on the three-wheeler range. Appreciating GST reform as a landmark which is timed just ahead of the festive period, Bajaj Auto said it puts more money in the hands of millions of families, daily commuters and small business owners who rely on affordable, efficient and reliable [] The post Bajaj Auto to pas

NEW DELHI, Sept 8: Total vehicle retail sales in India grew by a modest 2.84 per cent at 19,64,547 units in August as against 19,10,312 units in the same month last year, as customers postponed purchases expecting a price cut ahead of GST reforms, Federation of Automobile Dealers Associations said on Monday. Passenger vehicle sales were marginally up at 3,23,256 units last month as compared to 3,20,291 units in August 2024, Federation of Automobile Dealers Associations (FADA) said in [] The pos

NEW DELHI, Sept 8: Solar solutions provider Vikram Solar on Monday said it has secured a 336 MW module supply order from L&T Construction for the Khavda solar project in Gujarat. As part of this order, Vikram Solar will supply its advanced Hypersol G12R modules, based on N-type technology, a company statement said. The usage of G12R Modules will enhance the Balance-of-System (BOS) efficiency and help drive down the Levelized Cost of Energy (LCOE), making it more cost-effective and [] The post V

TOKYO, Sept 8: Japans economy expanded at a stronger rate in the fiscal first quarter than previously estimated, despite worries about US tariffs and domestic political uncertainty, according to government data released Monday. The Cabinet Office said Japans real gross domestic product, the sum value of a nations goods and services, grew at a seasonally adjusted 2.2% annualised rate in the April-June quarter from the previous quarter. That was better than the preliminary estimate for 1.0% grow

NEW DELHI, Sept 6 : Union Minister of State (Independent Charge) for Science and Technology; Earth Sciences and Minister of State for PMO, Department of Atomic Energy, Department of Space, Personnel, Public Grievances and Pensions, Dr. Jitendra Singh today said Indias future growth will increasingly depend on building a StartUp linked economy anchored in strong industry partnerships. He was speaking after launching the Chandigarh University Campus Tank, which he described as the first-of-its-kin

Ada Aggarwal The Hard Truth The old definition of success luxury vehicles, large houses, and too much stuff is falling apart. Everywhere in the world, people are waking up to an irreversible economic shift. Value is no longer in ownership. It is an experience. We dont exist in a goods economy anymore. We exist in an experience economy where memory, story, and emotion dictate what people buy and why they buy it. And if youre building a business, a career, [] The post The Experience Economy appear

BENGALURU, Sept 5: Spirits major Diageo expects value contribution from India, already among its top three markets globally, will keep rising on the back of its premiumisation strategy but doubling topline by 2030 will depend on macroeconomic factors and policy stability, according to the companys India MD & CEO Praveen Someshwar. India, which is a key growth market for Diageo, is cautiously optimistic about mid-term growth, where it is operating with a playbook of premiumisation, productivity,

KOLKATA, Sept 5: Small tea growers (STGs) of the country have sought that the government should introduce a minimum sustainable price (MSP) for green tea leaves for the operations to become sustainable in terms of income and competitiveness. A delegation of small tea growers, which met the officials of the Union commerce ministry recently, said that Indias almost 2.5 lakh small tea growers contribute to more than 50 per cent of total crop produced in the country. The STGs have [] The post Small

NEW DELHI, Sep 3: Highlighting the devastating impact of the Pahalgam terror attack on the economy of Jammu and Kashmir, Chief Minister Omar Abdullah on Wednesday) sought the Centres support to deal with the situation. The Union Territory (UT) was facing a severe fiscal crisis as its public revenues had collapsed in the aftermath of the April 22 terror attack in which 26 people were killed, he said. Mr. Abdullah, who also holds the finance portfolio, told the 56th GST [] The post GST Council Mee

NEW DELHI, Sept 3: The free trade agreement between India and four-European nation bloc EFTA, which will come into force from October 1, will have legally binding provisions on trade and sustainable development, Switzerland said on Wednesday. For the first time, India has laid down legally binding provisions on trade and sustainable development in a free trade agreement, it said in a statement. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerlan

NEW DELHI, Sept 3: The KP Group on Wednesday said it has partnered with South Korean firm AHES and GH2 Solar Ltd to establish and operate a green ammonia production facility in India with a capacity of 100,000 metric tons per annum. The partnership is formalised through a Memorandum of Understanding (MoU) signed by KPI Green Hydrogen & Ammonia Pvt Ltd (KPI GH), a KP Group company, AHES Co Ltd, and GH2 Solar Ltd, a company statement said. Key [] The post KP Group partners with AHES, GH2 Solar to

NEW DELHI, Sept 1: Bajaj Auto on Monday reported a 5 per cent year-on-year growth in total vehicle wholesales, including exports, at 4,17,616 units in August. The Pune-based automaker had sold 3,97,804 vehicles in August 2024, according to a regulatory filing. Total domestic sales (including commercial vehicles) declined 8 per cent to 2,32,398 units in August compared to 2,53,827 units sold in the corresponding month last year. Total exports for July rose 29 per cent year-on-year to 1,85,218 ve

INDORE, Aug 30: Reserve Bank of India (RBI) Governor Sanjay Malhotra on Saturday said India will become the worlds third largest economy soon, and credited the Pradhan Mantri Jan Dhan Yojana for boosting the countrys growth. His remark came at a time when Indias GDP grew 7.8 per cent in the April-June quarter of the current fiscal, the highest in five quarters before the imposition of heavy tariff on the country by the United States. Addressing a government banks financial [] The post India To B

BENGALURU, Aug 30:Electric two-wheeler maker Ather Energy on Saturday unveiled a new two-wheeler platform for a new generation of electric scooters across multiple segments. The company also announced a series of other significant product and technology developments, including showcasing a concept moto-scooter Redux, and AtherStack 7.0, which would alert riders to share live location, report on potholes and crashes, update them on tyre pressure, among others. Built for versatility, scalability,

Excelsior Correspondent JAMMU, Aug 28: Member of Parliament, Gulam Ali Khatana, has described Prime Minister Narendra Modis emphasis on self-reliance and the vocal for local campaign in the recent Union Cabinet meeting, as a decisive step towards strengthening the economy and empowering citizens across all sections of society. Khatana said the Prime Ministers call to promote Made in India products would give a major push to domestic manufacturing and reduce dependence on imports, thereby prepari

NEW DELHI, Aug 28:Power Mech Projects on Thursday said that it has secured an order worth Rs 370.84 crore from Adani Power arm Mahan Energen for the execution of civil works at the Mahan Phase-III project in Singrauli, Madhya Pradesh. Mahan Energen Ltd was formerly known as Essar Power M P Ltd. The scope of work includes the execution of civil works and erection of prefabricated structural steel for BTG (boiler turbine generator) units 1and 2, the main powerhouse, [] The post Power Mech Project

KOLKATA, Aug 28:Microfinance institution (MFI) Arohan Financial Services is eyeing a growth of 20 per cent in its outstanding loan portfolio during the current financial year, its MD Manoj Nambiar said. The MFI closed the 2024-25 fiscal with its outstanding loan portfolio at Rs 6,100 crore, he said. The microfinance sector is clearly showing green shoots on collection and portfolio quality with guard rails in place. We closed last year with an outstanding portfolio of Rs 6,100 crore. We aspire [

NEW DELHI, Aug 27:Nearly 15,000 senior living homes are likely to come up by 2030 with an estimated cost of Rs 26,000 crore if project launches continue at current pace in the organised market, according to a report. On Wednesday, the Association of Senior Living India (ASLI) and real estate consultant JLL India released a report on the countrys senior living market, which mentioned that the total organised supply of senior citizen homes stood at 22,157 units as of [] The post Nearly 15,000 sen

Jammu, Aug 27: Train services were restored from Jammu on Wednesday after a day-long suspension, with six trains scheduled to leave for their destinations, officials said. Northern Railway on Tuesday night announced the cancellation of 22 incoming and outgoing trains from Jammu and Katra railway stations, while 27 trains were short-terminated at various stations in the division due to heavy rain that lashed the region. Train services have been restored from Jammu. Six trains, which were either c

NEW DELHI, Aug 24: State-owned fuel retailers reported bumper profits in the June quarter, as a freeze on retail prices boosted petrol and diesel margins, offsetting earlier inventory losses. Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) reported a combined profit of Rs 16,184 crore in April-June, the first quarter of FY26 more than two-and-a-half times higher year-on-year, according to regulatory filings by the companies. A

NEW DELHI, Aug 21: A Parliamentary panel has flagged that a substantial segment of cancer drugs are still beyond the ambit of current price control mechanisms and recommended measures to include the widest possible range of cancer drugs by expanding the scope of the Drugs Prices Control Order. In its 163rd report presented on Wednesday, the Committee on Petitions, Rajya Sabha, headed by Narain Dass Gupta stressed that regular and comprehensive market assessments should be instituted to monitor

Shiban Khaibri The most disturbing development , if any , after the challenging epidemic of covid , currently faced by the country ,is the war of exorbitant tariff rates thrust on us by US President Donald Trump who has unfortunately emerged as an increasingly maverick politician in his second term. The rates of tariff have not been reviewed somewhat reasonably upwardly in ordinary course of business supported with cogent reasons but looking to sweeping 50% straight against this country , [] The

NEW DELHI, Aug 20: Natco Pharma on Wednesday said it has launched a generic medication to treat high blood pressure in the lungs in the US with 180-day exclusivity. The company has launched Bosentan tablets for oral suspension (32 mg), a generic version of Tracleer tablets by Actelion Pharmaceuticals US Inc. Natcos marketing partner for the product is Lupin Ltd, the Hyderabad-based drug maker said in a regulatory filing. Natco holds the first-to-file status for this product and will have [] The

NEW DELHI, Aug 20: Japanese auto major Honda Motor Co Ltd on Wednesday said it has set up a subsidiary in India to offer retail sales financing services, including loans and lease sales options, to customers. Honda Finance India Pvt Ltd will offer customers retail sales financing services, including loans and lease sales options for the companys products in the country, the automaker said in a statement. In India, where further growth of the motorcycle and automobile markets is expected, [] The

NEW DELHI, Aug 17: Aurobindo Pharma expects its China facility to break even in the third quarter of the current financial year, according to its CFO Santhanam Subramanian. The Hyderabad-based drug maker commenced operations at the facility in the last week of November 2024 and is now ramping up production. This facility with an initial capacity of 2 billion units plus is ramping up as expected and will begin contributing to revenue in the coming quarters and is expected [] The post Aurobindo P

NEW DELHI, Aug 14: Shivalik Small Finance Bank (SSFB) on Thursday said it has raised Rs 100 crore in equity capital from a clutch of investors led by SMBC Asia Rising Fund- Japan, the corporate venture capital arm of Sumitomo Mitsui Banking Corporation (SMBC). Besides, the banks existing investors, Accel, Quona Capital, Lightspeed, and Sorin Investments, also participated in this funding round. This fresh infusion of capital marks a significant milestone in Shivaliks journey to build a truly di

NEW DELHI, Aug 13:Mahindra & Mahindra plans to export its electric vehicles to the UK, leveraging improved trade opportunities following the finalisation of the India-UK free trade agreement, according to Group CEO and Managing Director Anish Shah. The Mumbai-based auto major is a leading player in the electric vehicle segment in the domestic market and expects EVs to comprise 30 per cent of its overall sales by 2030. In 2022, the company inaugurated Mahindra Advanced Design Europe (M.A.D.E) at

MUMBAI, Aug 13:Domestic carrier SpiceJet on Wednesday said it has finalised a damp-lease agreement for five Boeing 737s planes ahead of the winter schedule. The airline currently has 13 Boeing 737s and six regional jets in operation, out of a total of 53 aircraft in its fleet, according to aircraft fleet tracking website Planespotter.com. The remaining 34 remain on the ground. On July 25, the airline also made a similar announcement for five leased aircraft. SpiceJet has finalised a [] The post

HANOI, Aug 13: Beneath red banners and a gold bust of revolutionary leader Ho Chi Minh in Hanois central party school, Communist Party chief To Lam declared the arrival of a new era of development late last year. The speech was more than symbolic it signalled the launch of what could be Vietnams most ambitious economic overhaul in decades. Vietnam aims to get rich by 2045 and become Asias next tiger economy a term used to describe the [] The post Vietnam wants to be next Asian tiger, its overh

CHENNAI, Aug 12: Fire erupted in one of the engines of an inbound international cargo flight here on Tuesday, but none was injured as the blaze was put down after the aircraft landed here, official sources said. The flight was coming from the Malaysian city of Kulalumpur. The fire erupted in the fourth engine of the cargo flight during landing, prompting the pilots to alert the officials concerned here. Though no emergency landing was made, pilots safely landed the aircraft, [] The post Fire Eru

Raisen (MP), Aug 10: Defence Minister Rajnath Singh on Sunday described Indias economy as the worlds most dashing and dynamic and said some people who have the attitude of we are everyones boss are not liking it. Singhs comments come amid high tariffs announced by US President Donald Trump on goods imported from India. The speed with which India is moving ahead, no power in the world can stop it from becoming a big power globally, Singh said in his [] The post India Worlds Most Dashing And Dynam

Bengaluru, Aug 10: Prime Minister Narendra Modi flagged off three Vande Bharat Express trains here on Sunday. While the much-awaited BengaluruBelagavi Vande Bharat Express was flagged off by Modi in person; the Shri Mata Vaishno Devi KatraAmritsar, and Ajni (Nagpur)Pune Vande Bharat services, were launched virtually. These trains will significantly enhance regional connectivity, reduce travel time and provide a world-class travel experience to the passengers, officials said. Karnataka Governor T

NEW DELHI, Aug 7: Three-year-old Akasa Air on Thursday said it will start flights to the SAARC and ASEAN regions in the next few years, in addition to leveraging the upcoming Navi Mumbai and Noida International Airports to develop a comprehensive network. Akasa Air, which commenced operations on August 7, 2022, expects to have more than 30 planes in its fleet by the end of this year and aims for a capacity growth of over 30 per cent [] The post Akasa Air completes 3 years of flying; plans flig

Washington, Aug 6: US President Donald Trump on Wednesday slapped an additional 25 per cent tariff on goods coming from India as penalty for New Delhis continued buying of Russian oil. Trump signed an executive order imposing the additional tariff less than 14 hours before his initial tariffs were to come into effect. After the order, the total tariff on Indian goods, barring a small exemption list, will be 50 per cent. While the initial duty becomes effective on August [] The post Trump Doubles

Ada Aggarwal The old definition of success luxury vehicles, large houses, and too much stuff is falling apart. Everywhere in the world, people are waking up to an irreversible economic shift. Value is no longer in ownership. It is an experience. We dont exist in a goods economy anymore. We exist in an experience economy where memory, story, and emotion dictate what people buy and why they buy it. And if youre building a business, a career, or a [] The post Experience Economy The Hard Truth appe

VARANASI, Aug 2: Prime Minister Narendra Modi today said that India is poised to become the third largest economy of the world, and therefore has to be vigilant about its economic interests, in remarks seen as a direct rebuttal of US President Donald Trump terming India as a dead economy. Addressing a massive public meeting in Banauli village, Sevapuri (Varanasi) today, PM Modi said that India has to specifically look after the interests of its farmers, the small industries and [] The post India

NEW DELHI, Aug 2: Indian economy is expected to remain unshaken by the imposition of steep US tariffs on its exports, according to the latest State Bank of India (SBI) report. SBI is an Indian multinational public sector bank and financial services body. The report termed the imposition of 25 per cent tariff on India with penalty as a Bad Business Decision but the mysterious forces of Global Supply Chain should auto adjust and cushion the impact. Moreover, the report [] The post SBI report terms

SHAHID AHMED HAKLA POONCHI Indias recent rise to the position of the worlds fourth largest economy has been hailed as a historic achievement. With a nominal GDP surpassing $4 trillion, India has leapfrogged past the United Kingdom and, more recently, Japan once the undisputed symbol of Asias economic miracle. But beneath this glittering milestone lies a sobering question: Who truly benefits from this giant leap? Overtaking Japan: A Mirage? When India overtook Japan to claim the fourth spot, []

NEW DELHI, July 31: With leading international agencies, including IMF, continuing to project India as the fastest-growing major economy in the world, analysts said that US President Donald Trumps description of India as a dead economy is misplaced. India continues to be a hot-bed for foreign investment with several international giants looking at the country for setting up manufacturing base to Global Capability Centres (GCCs). Also, Indian talent is most sought after particularly in the tech