India’s Manufacturing Activity in April: Second Strongest in 3.5 Years India’s manufacturing activity witnessed a significant surge in the month of April, marking its second-strongest performance in the past 3.5 years. This boost comes as a promising sign for the country’s economic recovery amidst the ongoing challenges posed by the COVID-19 pandemic. The Purchasing Managers’…
India Reduces Windfall Tax on Petroleum Crude: Impact on Economy and Consumers The Indian government’s decision to reduce the windfall tax on petroleum crude has significant implications for both the economy and consumers. This move comes amidst rising concerns over inflation and the impact of high fuel prices on various sectors. Let’s delve deeper into…
India’s E-commerce Market Set to Become Third Largest Globally by 2030 India’s e-commerce sector is poised for remarkable growth, projected to become the third-largest globally by 2030. With a thriving digital landscape and increasing internet penetration, the Indian e-commerce market is witnessing exponential expansion. Various factors contribute to this anticipated surge, including evolving consumer behavior,…
Deloitte India’s Economic Outlook: FY24 and FY25 GDP Growth Predictions In the wake of ongoing economic shifts and global uncertainties, Deloitte India has released its Economic Outlook for the fiscal years 2024 and 2025, presenting projections and insights crucial for aspirants preparing for various government exams, including civil services, banking, and other competitive examinations. The…
Why Coimbatore is Known as the “Cotton City” Coimbatore, a bustling metropolis nestled in the southern state of Tamil Nadu, has earned the moniker “Cotton City” for its significant contribution to the textile industry in India. The city’s rich history and strategic location have played pivotal roles in establishing it as a prominent hub for…
India’s Pharmaceutical Exports Surge to $28 Billion in FY24 India’s pharmaceutical exports have seen a significant surge, reaching $28 billion in the fiscal year 2023-24. This growth marks a substantial increase compared to previous years and underscores India’s position as a global leader in the pharmaceutical industry. The remarkable expansion in exports is attributed to…
RBI Expands Gold Hedging Options for Residents Amidst Price Surge The Reserve Bank of India (RBI) has recently announced an expansion in gold hedging options for residents amidst a significant surge in gold prices. This move comes as a response to the growing demand for hedging mechanisms among residents to mitigate risks associated with gold…
Understanding India’s Wholesale Price Index (WPI) Report for March 2024 The Wholesale Price Index (WPI) is a crucial economic indicator that measures the changes in the prices of goods at the wholesale level. In March 2024, India’s WPI witnessed significant shifts, reflecting various economic trends and implications for different sectors. Overview of India’s Wholesale Price…
MUFG to Acquire 20% Stake in HDB Financial Services, Valuing at $9-10 Billion Pre-IPO In a significant move, Mitsubishi UFJ Financial Group (MUFG) has announced its plans to acquire a 20% stake in HDB Financial Services, a subsidiary of HDFC Bank. This strategic investment is set to value HDB Financial Services at approximately $9-10 billion…
SINE, IIT Bombay, and Canara Bank Forge Partnership for Startup Financing In a significant stride towards fostering entrepreneurship and innovation, SINE (Society for Innovation and Entrepreneurship), the business incubator of IIT Bombay, has joined hands with Canara Bank to facilitate startup financing. This strategic partnership aims to provide crucial financial support to budding entrepreneurs, thereby…
