Indian economy set for post-COVID-19 rebound as FDI remains buoyant: IHS Markit
New Delhi: The Indian economy is likely to rebound in the second half of 2020 as the impact of the COVID-19 pandemic recedes, and is projected to grow by 6.7 per cent in the next financial year, IHS Markit said on Thursday. The pandemic resulted in severe disruptions in industrial production and consumption spending in […]
Pandemic to bite deeply, GDP to shrink by 6 pc in FY21: Report
Mumbai: Citing the yet to be stabilised infection curve and the COVID-19 caseload in economically key states, Singaporean brokerage DBS on Wednesday forecast deeper distress for the country which will lead to a 6 per cent growth contraction in FY21. In its earlier forecast, the brokerage had penciled in a minus 4.8 per cent growth […]
Indian consumers cautious about spending amid COVID-19 crisis: KPMG
New Delhi: Consumers in India are cautious about spending in the wake of the coronavirus pandemic with 78 per cent of respondents claiming to reduce discretionary spending, according to a survey by consultancy firm KPMG. However, consumers in tier-II and tier-III cities were almost two-times more optimistic on their spending habits than those in tier-I, […]
ED raids Raj CM’s brother in fertiliser scam case, countrywide searches underway
New Delhi: The Enforcement Directorate (ED) raided the premises of Rajasthan Chief Minister Ashok Gehlot’s brother on Wednesday as part of countrywide searches in connection with a money laundering case linked to an alleged fertiliser scam, officials said. ED sleuths were assisted by personnel of the Central Reserve Police Force (CRPF), who were seen standing […]
COVID-19 may lead to large-scale bankruptcies: Survey
New Delhi: COVID-19 pandemic may lead to large-scale bankruptcies and induce growing unethical behaviour in the investment management industry, as per a survey. The survey, which covered more than 13,000 respondents, also noted that 39 per cent of CFA charterholders globally and 46 per cent in India expect large scale consolidation of firms. According to […]
COVID-19 has aggravated pains for deal-making, 2020 to be uncertain year: Report
Mumbai: The COVID-19 pandemic has affected deal-making activity in India and outlook for the remainder of 2020 also appears uncertain, a consultancy firm said on Tuesday. Deals, including those by private equity (PE) funds and also strategic mergers and acquisitions, declined 14 per cent to USD 38.4 billion in the first half of 2020 as […]
India e-commerce to grow 27%; Reliance to capture half of online grocery sales: Goldman
New Delhi: India’s e-commerce business is expected to grow at a compound annual growth rate (CAGR) of 27 per cent to reach USD 99 billion by 2024, Goldman Sachs said projecting that Reliance Industries would capture half of the online grocery sales through its Facebook. In a report titled ‘Global Internet: e-commerce’s steepening curve’, Goldman […]
New rules for electronic retailers to be effective by end of this week: Paswan
New Delhi: The new rules for electronic retailers, including mandatory display of ‘country of origin’ on their products, will come into force by the end of this week, Union minister Ram Vilas Paswan said on Monday and emphasised that the entities will face penal action for any non-compliance. The ‘Consumer Protection (E-Commerce) Rules, 2020’ will […]
Great time to invest in India: PM tells IBM CEO
New Delhi: This is a great time to invest in India and the country is welcoming investments in the tech sector, Prime Minister Narendra Modi told IBM CEO Arvind Krishna on Monday. In a virtual interaction with Krishna, the prime minister noted that while the world is witnessing a slowdown, FDI inflow in India is […]
IndiGo to lay off 10% of its workforce: CEO
New Delhi: IndiGo has decided to lay off 10 per cent of its workforce due to the economic crisis caused by the coronavirus pandemic, its CEO Ronojoy Dutta said on Monday. “From where things stand currently, it is impossible for our company to fly through this economic storm without making some sacrifices, in order to […]
