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

New Delhi, Jul 31: Congress leader Rahul Gandhi on Thursday said everybody except Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman know that India is a dead economy, as he alleged that the BJP-led government has destroyed Indias economic, defence and foreign policies. Speaking with reporters in the Parliament House complex, Gandhi also claimed that a trade deal with the US will happen and Trump will define it, while Prime Minister Modi will do what the American President tell

By Shivaji Sarkar Indias fight against obesity may soon come with a public notice stuck next to your favourite samosa stall or jalebicounter. The Union Health Ministry, wants central government offices to install oil and sugar boards warning staffers of the health hazards of deep-fried and sugary indulgences. The noble intent? Encouraging healthy eating. The unintended fallout? A direct blow to an informal food economy that feeds both bodies and bank accounts across the country. This isnt just

MUMBAI, July 23: Indias economic activities held up during June-July amidst geopolitical tensions and tariff policy uncertainties, Reserve Banks Bulletin said on Wednesday. An article on State of the Economy in July Bulletin said the global macroeconomic environment remained fluid in June and July so far amidst geopolitical tensions and tariff policy uncertainties. Domestic economic activity held up, with improving kharif agricultural season prospects, continuation of strong momentum in the serv

NEW DELHI, July 23:Google Play and Android generated an estimated Rs 4 lakh crore in revenue for app publishers and the wider Indian economy in 2024, according to a latest report by economics, policy and opinion research consultancy Public First. Indias digital economy is one of the largest and fastest-growing in the world, experiencing unprecedented momentum fueled by rapid smartphone adoption, affordable data, and a dynamic ecosystem of developers and entrepreneurs, the report measuring impac

New Delhi, Jul 18: The Congress on Friday said the economy needs a huge booster dose and asserted that will happen only when drastic reform of GST takes place, atmosphere of tax terrorism is ended, and when the fixation on the growth of just one or two big business groups through favouritism is abandoned. Congress general secretary in-charge communications Jairam Ramesh cited a research report issued by Nuvama Institutional Equities on Wednesday, and said it has underscored some concerns on [] T

SCO must take stand on combating terror TIANJIN (CHINA), July 15:The Shanghai Cooperation Organisation (SCO) needs to remain true to its founding objective of combating terrorism and extremism and take an uncompromising position on combating the challenges, External Affairs Minister S Jaishankar said at a conclave of the grouping on Tuesday while strongly justifying Indias response to the Pahalgam terror attack. Follow the Daily Excelsior channel on WhatsApp With his counterparts from Pakistan,

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 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

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