A government move to protect homebuyers in bankrupt real estate projects is yet to take concrete shape given the way developers structure their projects, two people aware of the matter said. The so-called reverse bankruptcy framework was first proposed by the ministry of company affairs in a discussion paper in January. It would apply the … Read more
India’s appeal as an investment destination remains strong amid global economic uncertainties, according to Manny Maceda, the Worldwide Managing Partner and CEO of Bain & Co. In an interview with ET he said, “India has always been a great, unique opportunity.” The International Monetary Fund (IMF) recently raised India’s GDP growth forecast for FY24 to … Read more
Waking up to complaints and issues related to maintenance of National Highways (NHs), the road transport ministry has now made it mandatory for contractors and executing agencies to submit evidence of time-stamped and geo-tagged photos of ‘before works and after maintenance’, while submitting bills. The move comes amid widespread criticism over the Centre focusing on … Read more
China is allegedly pumping in billions of dollars annually to reshape the global narrative through fake authors, bot armies and lawsuits. The first documented Beijing-backed global disinformation campaign dates back to 2017, when it typically targeted English and Chinese speakers on large platforms like Twitter (now X), Facebook, and YouTube. Since then it has come … Read more
Indian telecom equipment makers have asked the government to provide incentives for increasing value addition in manufacturing to reduce their dependence on imports, even as some companies have begun making fixed wireless access equipment that will be in high demand in India and other global markets. In a meeting with senior ministry officials last week, … Read more
Bharti Group-backed OneWeb vs Jio’s satellite services: A senior executive from Reliance Jio has cautioned that OneWeb, backed by the Bharti Group, should not underestimate the competition posed by Jio’s satellite services. Jio has already established a gateway and demonstrated a 1 Gbps broadband connectivity, a feat that might not be easily matched by competitors … Read more
Nitin Gadkari, the Minister for road transport and highways, has a clear message for Elon Musk’s Tesla. In a recent interview with ET, Nitin Gadkari said that Tesla is welcome in India, but if it manufactures locally. “We welcome Tesla to India. India is a big market with all types of vendors present here. If … Read more
The Finance Ministry’s report said that core inflation was declining steadily while food inflation has eased. People shop on the eve of Dussehra (Dasara) festival, in Bengaluru, Karnataka. File India will remain the fastest-growing major economy in the world in 2023-24 fiscal on the back of strong domestic fundamentals and benign inflation expectations, a Finance … Read more
Krishna Srinivasan, director, Asia Pacific Department, IMF, said India and China are expected to jointly account for half the world’s growth in 2023 and 2024, with India’s share at 16% and the remaining being contributed by China. “India’s economic growth remains robust, driven by a large public capital expenditure push and resilient domestic demand,” said … Read more