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…

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…

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…

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…

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 medium-term outlook remains positive amid strong growth: World Bank

New Delhi (IANS) The Indian economy continues to grow at a healthy pace despite challenging global conditions, a World Bank report said on Tuesday, adding that the country's medium-term outlook remains positive. 

Amid tough external conditions,…

Sale of smartphones worth Rs 1 lakh and above surge in India

New Delhi (IANS) With disposable incomes rising amid the premiumisation trend, the sales of luxury smartphones have surged in India in recent quarters, industry experts said on Tuesday. 

The smartphone shipments of Rs 1 lakh and above increased…

Indian commercial vehicle industry reverses decline, to see modest growth in FY25

New Delhi (IANS) The domestic commercial vehicle industry is projected to grow at a modest 0-3 per cent in FY25, against the earlier estimated decline of 4-7 per cent, a report showed on Monday. 

The current fiscal will be the second consecutive…

PM Modi-led Cabinet approves Rs 3,300 crore semiconductor unit

New Delhi (IANS) The Union Cabinet, chaired by Prime Minister Narendra Modi, on Monday approved the proposal of Kaynes Semicon Pvt Ltd to setup a semiconductor unit in Sanand, Gujarat, with an investment of Rs 3,300 crore. 

The proposed unit,…

54 pc of IPO shares allotted to investors sold within a week: SEBI study

Mumbai (IANS) More than half of the investors in initial public offerings (IPOs) between April 2021 and December 2023 sold the shares within a week of listing, a study by the Securities and Exchange Board of India (SEBI) revealed on Monday. 

In…