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India's plastics export poised to cross USD 8 bn mark in FY18

  25-Dec-2017

The Plastics Export Promotion Council (PLEXCONCIL) is confident that India's plastics exports will cross USD 8 billion mark due to the positive growth trend. "The current trend in India's plastic exports seems highly encouraging and we are confident of crossing plastics exports to cross USD 8 billion mark in FY18 showing a 6 per cent increase...

India’s time to capitalize on oil and gas sector

  22-Dec-2017

The dominance of oil, natural gas and coal in the global energy mix is being questioned by intensifying carbon policies, technological disruptions in mobility and, to an extent, changing energy geopolitics. A closer look at India’s energy mix reflects a clear trend towards gas and renewables, but there is no imminent danger to demand for oil,...

Govt to give incentives to boost electric vehicles

  21-Dec-2017

The government would support manufacturing and selling of electric vehicles (EVs) by giving incentives such as lower road taxes so that the automobile sector continues to play a major role in India’s GDP and job creation, Niti Aayog CEO Amitabh Kant said yesterday. He said in the long run, India must become a major manufacturer of...

Indian-origin steel tycoon purchases ArcelorMittal's US steelworks

  20-Dec-2017

UK-based Indian-origin metals tycoon Sanjeev Gupta's Liberty House Group has completed the purchase of the South Carolina-based Georgetown steel mill from ArcelorMittal, the company has announced. The deal between Liberty House and NRI steel magnate Lakshmi N Mittal's US steelworks, which includes a 540,000- tonne a year electric arc furnace...

Global economic growth to reach fastest rate, says PwC forecast

  19-Dec-2017

Global economic growth will pick up to its fastest rate in seven years in 2018, while the UK’s economy slumps to its weakest expansion since the last recession, according to the latest forecast from PwC. The accountancy and professional services firm’s forecasts are for global growth to hit 3.7 per cent in purchasing power parity (PPP)...

Bangladesh calls for Indian investment to boost garment production businesses

  18-Dec-2017

Bangladesh has called for investments from Indian entrepreneurs to give a boost to its growing readymade garment manufacturing sector. "It is an opportunity waiting to be tapped. While Indian entrepreneurs can gain out of their investment in the sector in Bangladesh, more number of our workers can have employment there. It's a win-win...

Agriculture ministry seeks tech solutions for 12 agrarian issues

  16-Dec-2017

Aiming to double farmers' income by 2022, the Union Agriculture Ministry today launched a grand challenge for technology startups to find solutions for 12 problems, including burning of crop residue, in farm sector. The ministry will hand-hold and help startups in finding technological solutions that should be affordable and implementable,...

Electrified Performance Cars from 2020 says Audi Sport Boss

  15-Dec-2017

Audi Sport boss Stephan Winkelmann, who's on the way out at Audi, confirmed that the company's performance arm is working on bringing electrified vehicles from 2020 and that the brand is also working on making cars that are faster and are based on SUVs. Winkelmann, will take over as president of Bugatti from January 2018. He spoke at the RS4...

India's Wholesale Price Index (WPI) inflation for textiles up 0.3% in Nov 2017

  15-Dec-2017

India’s annual rate of inflation, based on monthly wholesale price index (WPI), stood at 3.93 per cent for the month of November 2017 over same month of last year. The index for ‘Manufacturing of Textiles’ group rose by 0.3 per cent to 113.5. The index for ‘Manufacturing of Wearing Apparel’ group also rose by 0.3 per cent to 137.5 in...

CRISIL SME Tracker: Time for MSMEs in the machine tools sector to rejig

  14-Dec-2017

Micro, small and medium enterprises (MSMEs) in the machine tools industry need to enhance their production capabilities if they are to grab a higher market share and grow, a CRISIL analysis indicates. The analysis, covering over 100 rated MSMEs, highlights challenges such as lack of access to advanced technology, low investment in product...

GST Network introduces functionality to simplify returns filing process

  14-Dec-2017

The GST Network said it has introduced a functionality which simplifies the returns filing process for taxpayers. "A new functionality has been introduced on the GST portal for ease of the taxpayers under which questions will be posed as soon as the taxpayer enters the Returns dashboard and only relevant tiles will be displayed to the taxpayers...

Retail inflation breaches RBI estimates to reach 15-month high of 4.88%

  13-Dec-2017

The retail inflation for the month of November reached 4.88 per cent, touching a 15-month high on the back on rise in food and fuel prices. The inflation numbers also exceeded RBI estimates that retail inflation numbers will remain within 4.2 per cent to 4.6 per cent. In its bi-monthly monetary policy statement released in October, the Reserve...