BUSINESS
India's Domestic Air Travel Soars with 10.35% Annual Growth in FY25
The cumulative total of passengers carried during March 2025 stood at 145.42 lakh compared with 133.68 lakh carried during March last year, with month-on-month growth in passengers at 8.79%, as per the official statistics.
India’s Forex Reserves Poised to Reclaim Record High of $704.8 Billion
The week began on a strong footing with an initial surge, but the benchmarks promptly traded in a very narrow band in the following few sessions before witnessing some selling pressure towards the end. Eventually, the Sensex and Nifty ended at 79,212.53 and 24,039.35, respectively.
ED Detains BluSmart Co-Founder Puneet Jaggi Amid Gensol Probe Over Alleged Fund Misuse
ED raided the company's Delhi, Gurugram, and Ahmedabad offices in search of suspected offenses under the Foreign Exchange Management Act (FEMA), news agency PTI said.
Mid-Market Global Capability Centers to Establish 120 New Hubs and Generate 40,000 Jobs in India by 2026
The Inductus GCC survey finds that India will add over 120 new mid-sized GCCs by 2026, potentially creating 40,000 new employment opportunities. This growth will be on top of the current network of over 800 centers in India, which together employ 220,000 professionals.
India's Domestic Air Passenger Traffic Rises 11.3% in March to 148.8 Lakh; Aviation Outlook Remains Stable
For the entire fiscal year 2024-25 (April 2024 to March 2025), overall domestic air passenger traffic reached 1,657.1 lakh. This represented a 7.8% increase over the last year and was 17.1% more than the pre-pandemic level of 1,415.6 lakh in FY20, said credit rating agency ICRA.
Tesla Shares Surge 8% as Elon Musk Plans to Scale Back DOGE Role Amid 71% Profit Decline
Despite the fact that Tesla recorded a hefty 71 percent decline in net profit in the first quarter, its auto business core earnings were above Wall Street expectations.
India Emerges as a Key Growth Market for Global Consumer Product Giants: Report
The report emphasizes that affiliates of India's leading multinational companies (MNCs) are currently returning total shareholder returns two to six times higher than their foreign parents.
Centre Imposes 1% Tax on Luxury Goods Above Rs 10 Lakh
This step follows the announcement of the July 2024 Budget, when it had sought to introduce TCS on large-value items from January 1, 2025. The Union Budget FY 2024-25 has proposed that dealers of high-value goods, including motor vehicles having a price exceeding Rs 10 lakh, impose 1% TCS. The official order was, however, left pending until now.
HSBC Report Highlights Strong Expansion in India's Manufacturing and Services Sectors in April
The PMI in April posted a healthy 60, higher than the March reading in spite of lingering trade-related risks. A reading of 50 marks the level between expansion and contraction.
World Bank Revises India's FY26 Growth Forecast Down to 6.3%
The World Bank, in its South Asia Development Update report, elaborated, "The advantages to private investment from easing of monetary stance and regulatory simplification are anticipated to be compensated by weakness in the global economy and policy uncertainty."
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