Business

[ad_1] NEW DELHI: Union minister Piyush Goyal will head to Washington from May 17, leading a delegation of senior Indian officials for talks with US counterparts regarding the proposed bilateral trade agreement (BTA), according to an official's statement on Tuesday.During the four-day visit from May 17 to 20, the Commerce and Industry minister is expected to meet with US Trade Representative Jamieson Greer and commerce secretary Howard Lutnick to discuss ways to advance the agreement.The talks come as both countries work toward an interim trade deal focused on goods to secure "early mutual wins" before finalising the first phase of the broader agreement by September–October this year.Chief negotiators from both sides will continue discussions from May 19 to 22. Key issues on the table include market access, rules of origin, and non-tariff barriers.The talks will address India's proposed retaliatory duties […]

[ad_1] In a strategic move to expand its luxury footprint in Eastern India, ITC Hotels on Tuesday announced that it has signed a management agreement for a new property under its premium brand Mementos by ITC Hotels in Siliguri, West Bengal.The upcoming property, being developed by the LR Berlia Group, will be situated near Bagdogra Airport in north Bengal. The hotel is set to feature 180 rooms and a range of upscale amenities aimed at both leisure and business travellers. This marks the debut of the Mementos brand in Eastern India, reflecting ITC Hotels’ continued emphasis on tapping into high-growth domestic tourism markets.With the addition of this hotel, ITC Hotels now has six operational properties in West Bengal, with another six in various stages of development. Once fully completed, the company’s portfolio in the state will include 12 properties offering […]

[ad_1] NEW DELHI: EaseMyTrip founder and chairman Nishant Pitti has urged people to choose "Made in India" products over Chinese alternatives, days after he called on travelers to avoid visiting Turkey and Azerbaijan due to their open support for Pakistan amid the ongoing ‘Operation Sindoor’.Sharing a post on social media platform X, Pitti addressed the issue of celebrities endorsing Chinese products and Chinese-owned websites. He emphasised that national interests should take precedence over individual benefits or convenience."Valid question - what about websites owned by Chinese firms? What about celebs promoting Chinese products? Answer lies in our choices. Stop using such sites. Boycott those endorsements. National interest > personal convenience or profit. Time to walk the talk," he said in a post on X.Pakistan's steadfast ally, China, continues to supply military hardware to Islamabad whilst maintaining a supportive stance towards Pakistan […]

[ad_1] Pic source: Ram Mohan Naidu X post NEW DELHI: Union aviation minister Ram Mohan Naiduhas asked airlines to “resume normal schedules from Thursday (May 15) across all 32 airports” which were reopened on Monday morning after early six days. Naidu held a meeting with all airlines on Tuesday where he directed them to ramp up operations.The notice to airmen (NOTAM) for temporary closure of 25 segments of air traffic service routes within the Delhi and Mumbai flight information regions is valid till 5.29 am on Thursday. Once this NOTAM lapses, all air routes in the north and west will be available. With all the 32 airports open now, airlines have been asked to restore normal operations then.“Chaired a review meeting with all airlines and senior officials…. With the NOTAM ending on May 15, I suggested that airlines resume their […]

[ad_1] NEW DELHI: India's major ports saw a 4.3 per cent increase in cargo handling, reaching 855 million tonnes in Fiscal Year 2024-25. The growth was led by higher volumes in container traffic (up 10%), fertilisers (13%), petroleum, oil and lubricants (POL) (3%), and miscellaneous commodities (31%), as compared to the previous fiscal year.The Government of India operates 12 major ports under the Major Port Authorities Act, 2021.These ports include Deendayal Port, Mumbai Port, Jawaharlal Nehru Port, Mormugao Port, New Mangalore Port, Cochin Port, VO Chidambaranar Port, Chennai Port, Kamarajar Port, Visakhapatnam Port, Paradip Port and Syama Prasad Mookerjee Port.In FY 2024-25, the primary commodities handled were Petroleum, Oil, and Lubricants (POL) at 254.5 million tonnes (29.8 per cent), container traffic at 193.5 million tonnes (22.6 per cent), coal at 186.6 million tonnes (21.8 per cent), alongside other cargo types […]

[ad_1] State-run gas utility GAIL (India) Ltd on Tuesday reported a 6 per cent year-on-year decline in consolidated net profit for the January–March quarter, impacted by lower gas marketing margins and losses in the petrochemical segment. Net profit for the fourth quarter of FY25 stood at Rs 2,049.03 crore, down from Rs 2,176.97 crore in the same quarter a year ago and sharply lower than Rs 3,867.38 crore posted in the previous quarter ending December 2024, the company said in a filing to the stock exchanges.GAIL chairman and managing director Sandeep Kumar Gupta attributed the quarter-on-quarter decline in profitability to the absence of a one-time gain booked in the third quarter. “Profitability is lower than the preceding quarter as the company had a one-time gain from an arbitration award in Q3,” he said, as quoted by PTI.The company’s Q4 earnings […]

[ad_1] Tata Motors on Tuesday reported a 51% decline in consolidated net profit for the fourth quarter ended March 31, 2025, at Rs 8,556 crore, down from Rs 17,528 crore in the same period last year.The fall was primarily attributed to lower volumes and reduced operating leverage.The company’s consolidated revenue from operations stood at Rs 1,19,503 crore, marginally up from Rs 1,19,033 crore in Q4FY24.For the full financial year 2024-25, Tata Motors posted a consolidated net profit of Rs 28,149 crore, compared to Rs 31,807 crore in the previous fiscal. Annual revenue increased slightly to Rs 4,39,695 crore, up from Rs 4,34,016 crore in FY24, as reported news agency PTI.“On a consolidated basis, the automotive business is now debt-free, reducing interest costs. This is both pleasing and significant as it reflects healthy business fundamentals delivered by a resilient team,” said […]

[ad_1] The notable reduction in both inflation can be primarily attributed to decreased prices across several essential categories. (AI image) The All India Consumer Price Index (CPI) or retail inflation for the month of April 2025 eased to 3.16% compared to April 2024. The headline inflation in April 2025 decreased by 18 basis points from March 2025, reaching its lowest year-on-year level since July 2019, government data showed.The All India Consumer Food Price Index (CFPI) indicates a year-on-year inflation rate of 1.78% (Provisional) for April 2025 compared to April 2024. The rural areas recorded 1.85% whilst urban areas showed 1.64%. The food inflation experienced a significant reduction of 91 basis points in April 2025 compared to March 2025, marking its lowest point since October 2021.The notable reduction in both headline and food inflation during April, 2025 can be primarily attributed […]

[ad_1] India announced several economic and strategic measures against Pakistan with an aim to cripple its already struggling economy. Prime Minister Narendra Modi’s strong address to the nation after the India-Pakistan ceasefire also has a big economic message for Pakistan. “India's stand is very clear... Terror and talks cannot go together... Terror and trade cannot go together…. Water and blood cannot flow together,” PM Modi said. The message is clear - India’s punitive economic actions against the neighbouring country will continue!In the days following the Pahalgam terror attack, and ahead of Operation Sindoor, India announced several economic and strategic measures against Pakistan with an aim to cripple its already struggling economy.From the suspension of the Indus Waters Treaty to a complete ban on direct and indirect trade, all these measures are still in place. We take a look how they […]

[ad_1] Infosys reported a decline of 11.7% in its net profit to Rs 7,033 crore for the fourth quarter compared to the previous year. Infosys staff members have received signals suggesting a reduced performance bonus for the quarter ending March 2025, reflecting ongoing uncertainty in the IT services industry.During a recent conference bridge discussion with a substantial delivery unit, HR personnel and delivery managers notified team members about lower bonus payments due to decreased profits.A senior staff member told ET that the HR department initiated this discussion and likely conducted similar conversations with other units.The senior leadership provided reassurance during the call, stating this situation was temporary and promised to consider enhanced bonus recommendations for qualifying high-performing staff once business growth improves, the report said.Also Read | Tata Electronics looks to double Apple iPhones enclosures production in India to one […]