Author: NNI Editor
In India, domestic gold prices rose to a record 86,592 rupees per 10 grams last week. File photo | Photo Credit: REUTERS India’s gold imports are set to tumble 85% in February from year ago levels to their lowest in 20 years, with demand sapped by record prices for the precious metal, a government official and three bank dealers told Reuters.Lower gold imports could help India narrow its trade deficit and support the rupee that is trading near record low against the dollar. India is the world’s second biggest consumer of the precious metal.”Banks and jewellers have cleared a very…
Representational image of oil pump jacks outside Almetyevsk in the Republic of Tatarstan, Russia June 4, 2023. REUTERS/Alexander Manzyuk/File Photo | Photo Credit: Reuters India, the world’s third largest oil consuming and importing nation, bought crude oil worth €49 billion from Russia in the third year of Moscow’s invasion of Ukraine, a global think tank said. India, which has traditionally sourced its oil from the Middle East, began importing a large volume of oil from Russia soon after the invasion of Ukraine in February 2022. This is primarily because Russian oil was available at a significant discount to other international…
Reliance Industries Chairman Mukesh Ambani speaks at the Advantage Assam 2.0 Investment & Infrastructure Summit 2025 in Guwahati on Tuesday, February 25, 2025. | Photo Credit: NarendraModi/YT Reliance Industries will invest ₹50,000 crore across five different verticals in Assam over the next five years, its chairman Mukesh Ambani said on Tuesday (February 25, 2025).Speaking at the ‘Advantage Assam’ business summit, Mr. Ambani said the money will be invested to make Assam technology and AI ready.”At the 2018 investment summit, I announced an investment of ₹5,000 crore. Since then, the investments have crossed ₹12,000 crore. This amount will quadruple and we…
Adani Group Chairman Gautam Adani speaks at the Advantage Assam 2.0 Investment & Infrastructure Summit 2025 in Guwahati on Tuesday (February 25, 2025),. | Photo Credit: NarendraModi/YT Adani Group chief Gautam Adani on Tuesday (February 25, 2025) said his conglomerate will invest ₹50,000 crore across various sectors in Assam.Addressing the inaugural function of the Advantage Assam summit here, he said the group is committed to investing more in the future for the development of the State and the northeastern region.”We are eager to be a part of the progress story of Assam. We will invest ₹50,000 crore in Assam,” he…
An image of a young entrepreneur, Mr Chand, appears in a video. He looks confused as he wants to know ‘How to deduct and pay TDS’. A veteran chartered accountant hand-holds him through the process in a five-minute video. Chand is beaming at the end of it. “Running a business without the basics of accounts, is akin to driving without GPS or speedometer. If your destination is Chennai, you might just end up in Mumbai,” says CA Prabu Kesavan, co-founder and chief mentor of Accopedia School of Accounting & Finance or A-School, adding that the basics of accounting, finance, and taxation are prerequisites for business people.…
Image used for representational purpose. | Photo Credit: Reuters Maruti Suzuki India Ltd (MSIL) on Tuesday (February 25, 2025) said it began commercial production at its Kharkhoda facility in Haryana in 30 months from the time of ground breaking.The foundation stone, for this facility, was laid by Prime Minister Narendra Modi in August 2022, virtually.To begin with, the Kharkhoda facility will have an annual production capacity of 250,000 units and produce the compact SUV Brezza, the company said in a statement.With this, MSIL, including Suzuki Motor Gujarat Private Ltd, its wholly owned subsidiary, will have a total annual production capability of…
Representational image. Photo: Twitter/@FollowCII Madhya Pradesh can potentially become a $2.1 trillion economy by 2047-48 from its current size of $164.7 billion, a report by the Confederation of Indian Industry (CII) has said. According to the report titled ‘Envisioning Madhya Pradesh Economy @ 2047’, the State can increase its share in India’s economy from the current 4.6% to 6% in the next 22 years. “Looking ahead, M.P. is poised to grow to $339 billion (₹31.1 lakh crore) by 2030-31 and further to $2.1 trillion economy by 2047-48. This growth will translate into M.P.’s share rising from the current 4.6% to 6.0% by…
Image used for representational purpose. | Photo Credit: Reuters India has invited bids to appoint merchant bankers and legal advisers to sell the government’s minority shareholding in select public sector banks and financial companies.The government is looking to undertake minority stake sales in State-run banks and financial firms through an offer for sale, according to a document published on Monday (February 24, 2025) on the Department of Investment and Public Asset Management’s website, which did not name the lenders.The federal finance ministry is looking dilute minority shareholdings in Central Bank of India, Indian Overseas Bank, UCO Bank, and Punjab and…
Tata Capital Ltd. on February 25, 2025, approved an initial public offering, including a fresh issue of up to 23 crore equity shares. | Photo Credit: Special Arrangement India’s Tata Capital said on Tuesday (February 25, 2025) it has approved plans for an initial public offering that would see the non-bank lender issue 230 million new shares, while current shareholders will exit through the offer for sale route.The financial services arm of India’s $165 billion Tata Group was mandated to list by September this year, according to Central bank norms for so-called “upper layer” non-banking financial companies.Tata Capital did not…
Prime Minister Narendra Modi visits an exhibition on Advantage Assam 2.0 Summit, in Guwahati on Monday, February 24, 2025. | Photo Credit: X/Narendra Modi via ANI “Prime Minister Narendra Modi is scheduled to inaugurate the Advantage Assam 2.0 Investment and Infrastructure Summit on Tuesday (February 25, 2025) in the presence of industry captains and business delegations from foreign countries,” officials said.Assam Governor Laxman Prasad Acharya and Chief Minister Himanta Biswa Sarma will also be present on the occasion.The Prime Minister will address the inaugural session of the two-day summit after prominent industrialists of the country and the state deliver their…