EVs can drive Indian automotive industry reach Rs 134 lakh crore by 2047

New Delhi (IANS) The domestic automotive industry has crossed Rs 20 lakh crore mark in FY24 and has the potential to be worth $1.6 trillion (about Rs 134 lakh crore) by 2047, driven by electric vehicles (EVs), according to industry leaders. 

The…

LIC’s new business premium up 35 pc to Rs 19,309 crore in Aug

Mumbai (IANS) Life Insurance Corporation (LIC) of India saw a 35.1 per cent surge in its new business premium for the month of August to Rs 19,309.10 crore, from Rs 14,292.53 crore in the same month last year, showed data by the Life Insurance Council…

India’s defence export projected to grow at 18 pc by 2030: Report

New Delhi (IANS) India's defence export is estimated to grow at 18 per cent CAGR (compound annual growth rate) from FY24-FY30, driven by the 'Make in India' initiative and thrust on local manufacturing. 

According to global investment…

Indian edtech sector sees 96 pc growth in funding, long-term outlook strong

New Delhi (IANS) The Indian edtech sector witnessed $164 million in funding in the January-June period this year, a 96 per cent increase compared to the $81.9 million raised in the same period last year. 

The ecosystem, with approximately 11,000…

Second Byju’s auditor exits in a year, embattled edtech firm responds

New Delhi (IANS) Grappling with several issues, Byju’s has found itself in new controversy as its auditor BDO resigned with immediate effect, highlighting multiple issues with the embattled edtech firm, including significant delays in financial reporting…

Average household spending on food less than half for 1st time in modern India

New Delhi (IANS) Significant changes are unfolding in India’s food consumption pattern and the share of total household expenditure on food has declined substantially in rural and urban areas and across all states and union territories (UTs) since…

GST rate much below revenue neutral rate to lessen burden on taxpayers: FM Sitharaman

Chennai (IANS) Union Finance Minister Nirmala Sitharaman on Thursday said that the goods and services tax (GST) rate is much below the revenue neutral rate (RNR), originally suggested at 15.3 per cent, which means less burden on taxpayers. 

The…

Indian startup ecosystem witnesses 13 large funding rounds in 2024

New Delhi (IANS) The Indian startup ecosystem witnessed a surge in large funding rounds (over $100 million) in 2024, as startups' focus has shifted to profitability along with growth.

In 2024 so far, there have been 13 funding rounds valued…

Ola Electric shares continue to slide, lose over 30 pc from all-time high

New Delhi (IANS) Ola Electric shares continued to slide on Wednesday --- its sixth consecutive session of decline – as its stock lost more than 30 per cent from its recent all-time peak of Rs 157.40 apiece. 

The Bhavish Aggarwal-run company’s…

India's fintech startups grow fivefold in last three years

New Delhi, (IANS) India's financial sector is growing at a rapid pace as fintech startups have grown by about five times in the past three years, according to a report. The growth has been from 2,100 in 2021 to 10,500 in 2024. JM Financial said…