NEW DELHI, Jul 14: Finance Minister Nirmala Sitharaman on Monday said Global Capability Centres (GCC) could contribute up to USD 200 billion to the Indian economy and create additional jobs by 2030. Speaking at the CII-GCC Business summit, Sitharaman said on an average one new GCC per week was set up in 2024 and approximately 50 per cent of Fortune 500 companies have set up their GCCs in India. GCCs employ nearly 2.16 million professionals in India, having [] The post GCCs contribution to Indi

NEW DELHi, July 13:Worlds largest hotel franchisor Wyndham Hotels and Resorts sees India becoming one of its top markets with more than 50 hotels in the pipeline and plans to bring more brands to the country, according to top company officials. In an interview with PTI, Wyndham Hotels and Resorts President for Europe, Middle East, Eurasia and Africa, Dimitris Manikis, and Market Managing Director for Eurasia, Rahool Macarius, shared the leading hotel franchisors expansion plans for India. We ha

NEW DELHI, July 12: Real estate company Kolte-Patil Developers Ltds sale bookings declined 13 per cent to Rs 616 crore in the first quarter of this fiscal year on lower volumes and average price realisation. Its sale bookings or pre-sales stood at Rs 711 crore in the year-ago period. In a regulatory filing on Saturday, the company informed that its sales volume in April-June FY26 fell 12.5 per cent to 0.84 million square feet from 0.96 million square feet [] The post Kolte-Patil Developers Q1 p

NEW DELHI, July 10: The Government is likely to give a subsidy of Rs 30,000-35,000 crore to state-run oil companies Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) to compensate for losses incurred from selling LPG at below cost over the past 15 months, according to a senior official. The Finance Ministry is working out the exact under-recovery or loss incurred and the mechanism to compensate it, he said. In the Union Budget for [] The post Govt likely to

New Delhi, Jul 9: Vande Bharat and Chenab Bridge have emerged as a star attraction at the ongoing World Expo 2025 in Osaka, Japan, drawing enthusiastic crowds and high praise from visitors for its remarkable journey of modernisation and technological innovation, the Railway Ministry on Wednesday said. Held at Yumeshima, an artificial island on Osakas waterfront, the World Expo 2025 opened its doors on April 13 and will continue till October 13, welcoming millions of visitors from across the glob

NEW DELHI, July 9: The share of renewable energy in Indias total installed power capacity has reached nearly half and by the end of the year, the country is expected to meet the 50 per cent target, Union Power Minister Manohar Lal said on Wednesday. India has set the target to achieve 50 per cent of its total power generation capacity from non-fossil fuel sources by 2030. We have reached almost 50 per cent (share of renewable capacity) of the [] The post India may meet non-fossil fuel power capa

Excelsior Correspondent PUDUCHERRY, June 30: 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 and Puducherry Lieutenant Governor K. Kailashnathan held a meeting here this morning to discuss a comprehensive action plan for coastal cleaning, marine economy, creation of a permanent coastal management mechanism, explorat

Excelsior Correspondent BANIHAL, June 29: Aimed to promote eco-tourism as a sustainable driver for rural economic growth, MLA Banihal, Sajjad Shaheen conducted a tour to the breathtakingly beautiful and ecologically rich area of Zomando Mangit, here today. During the visit, Shaheen engaged with local residents, took firsthand stock of the issues facing the area, and underscored the tremendous potential of Zomando Mangit as a premier eco-tourism destination. Nestled amidst alpine forests, crystal

LAHORE, Jun 21: Pakistans Defence Minister Khawaja Asif and a close aide of ruling PML-N president and former prime minister Nawaz Sharif has said the country is being governed under a hybrid model in which the military enjoys the major power share. This is the second time this week that Asif, a prominent member of the incumbent Prime Minister Shehbaz Sharif cabinet, admitted to the hybrid model, criticised as not mixed but a fixed government to serve subsidiary interests by [] The post Pak defe

Nicosia, Jun 16: India will soon become the third-largest economy in the world, Prime Minister Narendra Modi has said, highlighting myriad economic opportunities the country offers to companies from Cyprus. Modi, who is in Cyprus on the first leg of his three-nation tour, made the remarks as he, along with Cypriot President Nikos Christodoulides, attended a business roundtable on Sunday in Limassol, a city on the southern coast of Cyprus. The Prime Minister highlighted Indias rapid economic tran

Addresses closing ceremony of Viksit Krishi Sankalp Abhiyan Excelsior Correspondent SRINAGAR, June 14: Lieutenant Governor Manoj Sinha today addressed the closing Ceremony of Viksit Krishi Sankalp Abhiyan at SKUAST Kashmirs Mountain Research Centre for Field Crops at Khudwani-Kulgam. In his address, the Lieutenant Governor commended the valuable contribution of everyone associated with the Viksit Krishi Sankalp Abhiyan for marking a transformative step, through this initiative, toward building a

New Delhi, Jun 9: The Congress on Monday said the Modi government in the last 11 years has dealt a deep blow to the countrys democracy, economy and social fabric. In a post on X, Congress president Mallikarjun Kharge alleged that the government has only smeared the ink of dictatorship on every page of the Constitution in these 11 years. The BJP-RSS has weakened every constitutional institution and attacked their autonomy, he said. Whether it is going against public [] The post Last 11 years a b

NEW DELHI, June 8: India is set to overtake Japan to become the worlds fourth-largest economy, but must not become complacent, as the country remains far behind Japan in GDP per capita terms, WEFs former MD Claude Smadja said. According to IMF data dated April 2025, Indias GDP per capita of USD 2,878.4 is approximately 8.5 per cent of Japans GDP per capita of USD 33,955.7, meaning Japans per capita income is about 11.8 times higher than Indias. Yes, it [] The post India topping Japan economy no

NEW DELHI, Jun 7: Congress leader Jairam Ramesh took a swipe at Prime Minister Narendra Modi on Saturday, describing him as Swayam Udghoshit Vishwaguru, and asked whether during his meetings at the G7 Summit, he would update his Canadian counterpart, Mark Carney, on India being the third-largest economy. Carney had, while justifying his invite to India for the G7 Summit in Kananaskis, Alberta, later this year, said some countries should be at the table for the discussions at the summit. [] The p

JAMMU, Jun 2: The Jammu and Kashmir Real Estate Regulatory Authority (JKRERA) has imposed a penalty of 10,00,000 (Rupees Ten Lakhs only) on real estate developers for failing to register their ongoing real estate project located at Sang Talab, Raipur Domana, with the Authority. The penalty of Rs. 10 lakh has been imposed for violation of Section 3 (1) of the Real Estate (Regulation and Development) Act 2016. The Authority took suo-motu cognizance of the violation and initiated proceedings under

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 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

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 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

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.

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 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

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

UNITED NATIONS, Apr 16: India is expected to grow by 6.5 per cent in 2025 on the back of continued robust public spending and ongoing monetary easing, even as the world economy is on a recessionary trajectory, driven by escalating trade tensions and persistent uncertainty, a UN report said. The UN Trade and Development (UNCTAD) in its new report, Trade and Development Foresights 2025 Under pressure: Uncertainty reshapes global economic prospects, said that global growth is projected to slow []

NEW DELHI, Apr 11:The Indian real estate sector attracted a 74 per cent higher equity funding of around USD 2.9 billion during the January-March period amid strong demand for properties, according to CBRE. Real estate consultant CBRE data showed that the equity investment inflows in real estate stood at USD 2.9 billion in January-March 2025, registering a 74 per cent year-on-year increase. Investment inflows were primarily fuelled by developer activity and significant interest from real estate

Delhi NCR emerges as Indias next big commercial real estate powerhouse, driven by innovation, infrastructure, and a growing demand for premium office spaces. New Delhi [India]: The commercial real estate market in Delhi NCR is on the brink of significant transformation. As the region continues to attract new businesses and entrepreneurs, it is becoming a hotspot for corporate growth and innovation. With its rapidly expanding corporate ecosystem, world-class infrastructure, and a growing demand f

New Delhi, Apr 3: Leader of Opposition Rahul Gandhi on Thursday claimed that China had taken over 4,000 square kilometre of Indian territory and that reciprocal tariffs or import duties imposed by the US would completely devastate the Indian economy, as he demanded answers from the government over these issues. Speaking during the Zero Hour in the Lok Sabha, Gandhi slammed the government over the celebration of the 75th anniversary of diplomatic ties by India and China. China is sitting [] The p

JAMMU, Mar 26: Jammu and Kashmir Lieutenant Governor Manoj Sinha underscored the pivotal role of micro, small and medium enterprises (MSMEs) in job creation, economic progress and seamless public service delivery. He highlighted that J&K has drawn inspiration from economic models in Switzerland and Germany to foster self-reliance, digital adoption and investor-friendly policies. There is a crucial role of MSMEs in job creation, competition and seamless public service delivery in Jammu and Kashmi

NEW DELHI, Mar 23:Realtors body CREDAI-MCHI has said the Maharashtra governments budget will give a significant boost to real estate sector because of huge allocation for infrastructure development and focus on affordable housing. CREDAI-MCHI, which is part of CREDAI, represents real estate developers in the Mumbai Metropolitan Region (MMR). On March 10, Maharashtra Deputy Chief Minister Ajit Pawar, who holds the finance portfolio, tabled the state budget in the legislative assembly and announc