BUSINESS
IMF Boosts India’s 2024-25 GDP Growth Projection to 7%
https://thenewsmen.co.in/business/indias-defense-exports-surge-30fold-in-the-past-decade/130617
India Has the Potential to Lead in AI Like China Did in Manufacturing: Bhavish Aggarwal
India boasts the highest number of developers worldwide, along with a significant number of silicon designers and the largest IT services sector.
India’s Defense Exports Surge 30-Fold in the Past Decade
The products turned out by the Indian defence industry today find their way to more than 85 countries in Southeast Asia, the Middle East, Africa, and Latin America. This proves the fact that the industry is fully capable concerning designs and development; there are some 100 companies involved in defence exports. The government took several policy initiatives to support these exports through the 'Make in India' initiative and a slew of economic reforms in the past decade.
Automobile Sales Surge in Q1 FY25 Driven by Economic Growth and Rural Demand: SIAM
SIAM registered a 3 per cent increase with 1,026,006 units sold as against the same period last year. Utility vehicles contributed 18 per cent while vans registered a 9.2 per cent growth.
India's Industrial Production Sees 5.9% Growth in May
The growth drivers at the top in the manufacturing sector during May 2024 were "Manufacture of basic metals" at 7.8 percent, "Manufacture of pharmaceuticals, medicinal chemicals and botanical products" at 7.5 percent, with "Manufacture of electrical equipment" throttling past all of these at 14.7 percent, the official statistics indicate.
India Achieves Record Forex Reserves of $657.2 Billion
The reserves had dropped by $1.71 billion to $652 billion in the June 28 week but have now bounced back to continue their upward streak seen in the previous weeks.
Mukesh Ambani's son Anant ties the knot with Radhika at star-studded event in Mumbai
The event, labeled as the 'wedding of the year,' saw a diverse range of high-profile guests, including reality TV stars Kim and Khloe Kardashian, Nigerian rapper Rema, former UK Prime Minister Tony Blair, and global business leaders such as Saudi Aramco CEO Amin Nasser, Samsung Electronics chairman Jay Lee, and GSK plc chief executive Emma Walmsley.
PepsiCo CEO Ramon Laguarta: India Set to Remain a Major Growth Market for Years to Come
During an investor call, Laguarta emphasized the company’s focus on its brands to seize growth opportunities. "We’re observing significant growth across various segments of the AMESA region, with India being a key area of expansion and investment," he stated.
Indian Economy Sees Over 4-Fold Increase in New Jobs from 2004-14 to 2014-23: SBI Report
According to an SBI report, prepared from RBI data by its Economic Research Department, during FY14-FY23 and FY04-FY14, the manufacturing and services sectors alone contributed to about 8.9 crore and 6.6 crore jobs respectively, alike in exclusion of agriculture.
Milestone Achieved: Telecom Equipment Manufacturing Surpasses Rs 50,000 Crore Under PLI Initiative
Companies that are beneficiaries under the PLI have seen exponential growth in sales of telecom and networking products by 370 percent in FY2023-24 over the base year FY 2019-20. More importantly, the gap between the concerned imports and exports of telecom has also come down, with total exports of telecom equipment and mobiles crossing Rs 1.49 lakh crore, marginally higher than imports of Rs 1.53 lakh crore in FY 23-24, data from the government showed.
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