BUSINESS
India Seals Economic Deal with European Quartet, Anticipates $100 Billion Inflows
Under TEPA, the EFTA nations have committed to investing $100 billion in India over a span of 15 years, recognizing India as the world's fastest-growing economy. Goyal emphasized the potential of this agreement to bolster economic growth and job creation in India.
Adani Group's Major Investment Shifts to Uttar Pradesh, Says Karan Adani
In an exclusive conversation with IANS, Karan Adani outlined the ambitious vision for the Chaudhary Charan Singh International Airport (CCSIA), emphasizing its pivotal role in the region's economic growth. The master plan aims to elevate the airport's capacity to cater to a staggering 38 million passengers annually by 2047-48, a move expected to create employment opportunities for 50,000 to 60,000 individuals.
Prime Minister Modi Unveils Airport Development Initiative: 15 Projects Worth Rs 9,800 Cr Launched, Focuses on Infrastructure Expansion"
Designed to accommodate both domestic and international flights, Terminal T3 boasts a formidable capacity, capable of handling up to 4,000 passengers during peak hours. The inaugural phase of this state-of-the-art terminal can manage 8 million passengers annually, featuring elevated pathways that effectively segregate arrival and departure flows. Subsequent expansions in Phase 2 are set to further amplify this capacity to serve 13 million passengers per year.
Indian Startup Ecosystem Flourishes: $308 Million Raised by 27 Startups in Recent Funding Surge
Early-stage startups accounted for about $166.8 million of the total funding, with notable names such as mPokket, Ema, Hunch, and Rozana securing investments. Delhi-NCR emerged as the frontrunner in terms of deal activity, with 10 startups based in the region securing funding, followed closely by Bengaluru with nine deals.
India's Foreign Exchange Reserves Surge by $6.55 Billion
The escalating foreign exchange reserves signify a favorable outlook for the economy, indicating an abundant influx of dollars that bolsters the strength of the rupee. A bolstering of foreign exchange reserves enables the RBI to fortify the rupee's stability, particularly during periods of volatility.
India's Remarkable Growth Narrative Stands Out Among Major Economies, Says UBS
The nation has demonstrated remarkably positive GDP growth, consistently surpassing 8 percent in the initial three quarters of FY2024, notes UBS.
Baron Capital Boosts Swiggy's Value to $12.16 Billion
In its filings, Baron Capital highlighted Swiggy's dominance in the Indian food delivery landscape, commanding approximately 45 percent market share. The investment firm expressed confidence in Swiggy's prospects, emphasizing its advantageous position to capitalize on the structural growth within India's online food delivery sector.
IMF Maintains Neutrality Amid Imran Khan's Political Appeal in Pakistan
The letter, sent ahead of the swearing-in of new Prime Minister Shehbaz Sharif on March 4, requested the IMF to thoroughly examine the election results before engaging in any new agreement with Islamabad. However, the IMF has rebuffed Khan's demand for an election audit, stating that it does not intervene in domestic political matters but emphasizes the importance of resolving electoral disputes peacefully and fairly.
UK Trade Minister: FTA with India Possible Before Elections
Speaking at a Global Trade conference hosted by the think tank Chatham House in London, Badenoch highlighted the challenges posed by India's protectionist economic policies compared to the UK's more liberalized approach. She underscored the importance of ensuring a trade pact that holds substantial commercial value rather than being merely a political gesture ahead of an election.
RBI Governor Das Forecasts GDP Growth Near 8% for FY24
According to the National Statistical Office (NSO), the October-December quarter is projected to witness growth of 8.4 percent. Furthermore, the NSO has revised its GDP estimates for the first and second quarters upward to 8.2 and 8.1 percent, respectively, from the earlier figures of 7.8 percent and 7.6 percent.
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