Economy / The Times of India
California's GDP surpassed Japan's in 2024, reaching $4.1 trillion, driven by its thriving tech industry and property market. Governor Newsom cautioned that President Trump's tariff policies threaten this economic growth, leading to a lawsuit challenging the tariffs' legality. California, along with other states, argues these tariffs harm businesses and residents, while the White House dismisses the challenge.
Delhi government is considering developing three new industrial areas in west and northwest Delhi via public-private partnerships. These projects in Kanjhawala, Ranikhera, and Baprola, spanning nearly 1,200 acres, will focus on IT, AI, and biotechnology, potentially creating lakhs of jobs.
Ghaziabad police arrested Ravi Shankar Sharma, a 55-year-old property dealer, for allegedly defrauding individuals by selling plots in Loni under false pretenses. Sharma is accused of taking money from a Varanasi resident, Chanda Srivastava, promising a plot, and providing a fake deed.
India's External Affairs Minister S Jaishankar discussed the nation's growing alignment with Europe, highlighting economic progress and strong bilateral relations with Ireland. He emphasized the significance of finalizing the free trade agreement with the EU and the increasing convergence as India becomes a major global economy.
India will present its effective waste management practices from the Mahakumbh at the upcoming 'Regional 3R and Circular Economy Forum in Asia and the Pacific' in Jaipur. Housing and urban affairs minister Manohar Lal Khattar noted the religious congregation's efficient waste management plan involving 25,000 personnel. The conference will discuss 'waste to wealth' and boosting circular economy.
UP CM Yogi Adityanath defended the Rs 4,000 crore expenditure on the Maha Kumbh, highlighting its economic benefits. He clarified that only Rs 1,500 crore was spent on the event, with the rest on Prayagraj's infrastructure. At a Lucknow event, he emphasized ongoing projects that bolster UP's development and thanked ministers for their support in achieving world-class infrastructure.
British band Coldplay's concerts in Mumbai and Ahmedabad received attention from PM Narendra Modi, who highlighted India's potential as a concert economy. Modi emphasized India's rich musical heritage and a large youth population as key factors, urging public-private investments in infrastructure to harness opportunities for generating revenue and employment through live events.
A pan-India home buyers organization has called on the consumer affairs department to establish guidelines for real estate advertising. It flagged that 34% of real estate ads examined by ASCI were misleading, with Maharashtra RERA's average penalty of Rs 14,000-15,000 insufficient to deter violators.