Barclays: 12% exports growth target by 2030 more realistic

"The biggest policy push is seen in manufacturing exports, where India is slowly yet steadily moving up the value chain, and seeing greater diversification. Still, India's largest goods exports themselves are highly reliant on imports," said Rahul Bajoria, managing director, Barclays.

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Nomura sees rural demand gathering steam in 2024

The global investment banking firm noted that even though growth is expected to slow down in the coming fiscal to 5.6% from 6.7% projected in FY24, mass consumption may rise as easing price pressures support mass consumption.

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Glenmark Pharma launches antidiabetic injectable

Glenmark Pharmaceuticals has launched the first biosimilar of the popular anti-diabetic drug, Liraglutide in India. The drug, marketed as Lirafit, is an injectable anti-diabetic medication that lowers therapy cost by 70%. It has received approval from the Drug Controller General of India and is priced at approximately Rs 100 for a standard dose of 1.2 mg per day. This launch marks Glenmark's entry into the injectable anti-diabetic market, expanding their presence in the diabetes therapy space.

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Parties' Lok Sabha polls spend may top Rs 1 lakh crore, spur growth in Q4

Political parties' spending for the Indian general election could exceed ₹1 lakh crore, potentially increasing consumption and boosting growth by 0.2-0.3 percentage points in the last quarter of FY24. Candidates are expected to accelerate their spending, increasing travel for campaigns and publicity material. The increase in consumption is expected to be more pronounced for rural households and lower-income groups.

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FCI to borrow Rs 50,000 cr to meet short-term fund needs

The Food Corporation of India (FCI) is set to borrow Rs 50,000 crore to meet its short-term fund requirements. The government-owned corporation has invited bids from banks for a three-month tenure loan to meet its cash flow mismatch and procurement and distribution of food grains.

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ITC’s renowned hotelier Nakul Anand retires after 45 years

Nakul Anand, an eminent hotel and travel industry professional, retired from his position as executive director of ITC. He joined ITC Hotels in 1978 and rose to top positions in the company, overseeing ITC's hospitality, travel, and tourism businesses. Anand was given a farewell at ITC Green Centre. Anand served as ITC Hotels MD from 2003 to 2005 and was appointed as a director on the board of ITC in 2011. He has been acknowledged for his vision and commitment to the tourism and hospitality industry.

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Centre notifies creation of principal bench of GST Appellate Tribunal

On the recommendation of GST council, Centre on Monday notified the creation of the principal bench of Goods and Services Tax Appellate Tribunal (GSTAT). Last month the Parliament passed the CGST Bill, 2023 which seeks to raise age limits for the president and members of the Goods and Services tax Tribunal (GSTAT) from 67 and 65 years, respectively, to 70 years, against 67 years and 65 years specified earlier.

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Onion export ban may be lifted as prices drop, supplies rise

India plans to lift the ban on onion exports due to a significant drop in vegetable prices in the main producing regions. The ban was imposed on December 8, following domestic prices doubling in three months due to production decline. Prices have dropped by 20% to Rs 1,500 per quintal, with fresh kharif onions increasing to 15,000 quintals daily.

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A home to stay, a car to ride: Indians use savings to buy

Official data on household net financial savings indicates that it fell to 5.1% of GDP in FY23 from 11.5% in 2020-21, well below its long-run annual average of 7.0-7.5%. The fall was driven by a rapid rise in financial liabilities (household borrowings - from 3.8% of GDP in FY22 to 5.8% in FY23.

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