Business

[ad_1] The Khadi and Village Industries Commission (KVIC) has achieved a milestone, with its turnover crossing 1.70 lakh crore for the first time in independent India’s history, according to the Ministry of Micro, Small and Medium Enterprises. KVIC Chairman Manoj Kumar shared provisional figures for the financial year 2024–25, marking record growth across production, sales, and employment.Releasing the data on Monday at the KVIC headquarters in Rajghat, New Delhi, Manoj Kumar announced that Khadi and Village Industries products saw a 347 percent increase in production and a 447 percent rise in sales over the past 11 years. Employment generation rose by 49.23 percent, reaching 1.94 crore individuals, reflecting the sector’s deepening role in rural livelihood generation.“The vision of a self-reliant India, rooted in the legacy of Bapu’s Khadi, is being realized through the transformative efforts under 'Azadi Ka Amrit Mahotsav' […]

[ad_1] India’s core infrastructure sectors posted a slower growth of 3.8 per cent in March 2025, compared to 6.3 per cent in the same month a year ago, according to official data released on Monday.However, the figure showed a slight improvement over February’s 3.4 per cent growth.The moderation in March was largely due to a decline in the output of crude oil and natural gas, while key segments like coal, refinery products, steel, and electricity also saw a deceleration in their growth rates.Sector-wise Performance in March:Coal: Up 1.6%Refinery products: Up 0.2%Steel: Up 7.1%Electricity: Up 6.2%Fertiliser: Jumped 8.8% (compared to a 1.3% decline in March 2024)Cement: Grew by 11.6% (from 10.6% in March last year)Crude oil and natural gas were the only sectors to register a contraction in output during the month.For the full financial year 2024-25 (April–March), the cumulative growth […]

[ad_1] Gold prices breached the Rs 97,000 per 10 grams level for the first time in futures trade on Monday, surging by Rs 2,111 to hit an all-time high of Rs 97,365 per 10 grams on firm local demand. Continuing the winning streak for the third straight day, the most-traded June delivery contract of the precious metal soared by Rs 2,111 or 2.22 per cent to hit a record high of Rs 97,365 per 10 grams in the evening session on the Multi Commodity Exchange (MCX). Later, the June contract traded at Rs 97,276 per 10 grams, up by Rs 2,022 or 2.12 per cent, with an open interest of 23,060 lots. The August contract of the metal spurted by Rs 2,104 or 2.19 per cent to hit a fresh peak of Rs 98,000 per 10 grams. The October contract […]

[ad_1] US President Donald Trump's renewed attacks on Federal Reserve Chairman Jerome Powell and the central bank's independence are stirring market uncertainty, contributing to the US dollar hitting a three-year low.The ICE U.S. Dollar Index, which tracks the greenback against a basket of major foreign currencies, fell to 97.92 on Monday, marking its lowest level since March 2022, according to FactSet data.As of 10:00 a.m. ET, the index was down 1.1% on the day, trading at 98.24.Investors, grappling with trade tensions and Fed policy concerns, are increasingly turning to alternative safe-haven assets, like gold, which surged to a record high on Monday.As of 10:54 AM GMT-4 on April 21, U.S. stock markets experienced significant losses, with the Dow Jones Industrial Average (DJIA) dropping 834.74 points, or 2.13%, to 38,307.49. The Nasdaq Composite declined by 425.39 points, or 2.61%, to 15,861.05, […]

[ad_1] US stocks fell sharply on Monday following a new round of criticism from former President Donald Trump towards Federal Reserve Chair Jerome Powell. Trump, in a post on Truth Social, referred to Powell as “Mr. Too Late, a major loser” and reiterated his demand for immediate interest rate cuts.As of 10:30 a.m. ET, The Dow Jones Industrial Average dropped 735.24 points (-1.88%), closing at 38,406.99, while the S&P 500 fell 109.53 points (-2.07%) to 5,173.17. The Nasdaq also experienced a significant decline, losing 417.11 points (-2.56%) to finish at 15,869.34, at .The downturn was exacerbated by losses in major technology stocks, with Tesla dropping 7%, Nvidia falling 5%, and Amazon shedding 4%. Advanced Micro Devices and Meta Platforms both saw a decline of 3%, and Caterpillar dropped 3%.The market's decline coincided with a further weakening of the US dollar, […]

[ad_1] NEW DELHI: Google has reached a settlement with the Competition Commission of India (CCI) in a case involving alleged unfair business practices in the Android TV segment. As part of the settlement, Google has agreed to pay Rs 20.24 crore to the regulator, according to news agency PTI. This marks the first case to be settled under the revised provisions of the Competition Act, which introduced settlement and commitment provisions in 2023.The case stemmed from a complaint filed in 2021, which led CCI to initiate a detailed investigation.In its settlement proposal, Google agreed to provide a standalone license for the Play Store and Play Services for Android smart TVs in India, eliminating the requirement to bundle these services or impose default placement conditions. Additionally, Google will waive the need for valid Android Compatibility Commitments (ACC) for devices that are […]

[ad_1] Indian stock markets maintain a close correlation with the US stock markets, Goldman Sachs has said in a recent analysis. According to Goldman Sachs, whilst India's economy remains comparatively protected from US economic deceleration, the stock markets of both nations demonstrate significant interconnectedness.The analysis emphasised that India's economy exhibits reduced vulnerability to American slowdowns compared to other nations, primarily attributed to India's minimal trade reliance on the US.According to ANI, the Goldman Sachs report highlights India’s relatively limited trade exposure as a key factor cushioning the economy against US economic volatility, especially when compared to countries with higher trade dependency. With merchandise exports accounting for just 12% of India’s GDP—versus 19% for China and a significant 82% for Vietnam—India is less vulnerable to external shocks stemming from the US economy."While the Indian economy is relatively insulated from a US […]

[ad_1] Klaus Schwab (Photo credit- WEF) Klaus Schwab, the founder and long-time face of the World Economic Forum (WEF), has stepped down as Chairperson and member of its Board of Trustees with immediate effect, the Geneva-based organization announced on Monday.In a message to the board, Schwab said, “Following my recent announcement, and as I enter my 88th year, I have decided to step down from the position of Chair and as a member of the Board of Trustees, with immediate effect.”According to PTI, Schwab’s departure marks the end of an era for the WEF, which he established 55 years ago as a platform for global public-private cooperation. He has remained its central figure ever since.At an extraordinary board meeting held on Sunday, the board acknowledged Schwab’s resignation and unanimously appointed Vice Chairman Peter Brabeck-Letmathe as Chairman ad interim, the WEF […]

[ad_1] NEW DELHI: In a significant shift towards more frequent economic data dissemination, the Central government will begin releasing unemployment figures on a monthly basis starting May 15, a senior official from the Ministry of Statistics and Programme Implementation announced on Monday.According to PTI, the initial release will cover data for the months of January, February, and March, and subsequent reports will be published each month thereafter.“This is the first time that we are doing it,” the official stated, emphasizing the government's commitment to increasing the frequency and transparency of labour market data.Until now, India has been publishing urban unemployment data on a quarterly basis and combined rural-urban unemployment statistics annually. Unlike other major economies, India has lacked a system for high-frequency unemployment data collection and dissemination.The official assured that the new data collection process is statistically robust and representative, […]

[ad_1] President Trump’s tariff shock has forced China to rethink its trade ties with India. Donald Trump’s return to the White House has meant a return to the economic weapon he loves best: Tariffs. In his latest salvo against China, the president has raised levies on nearly all Chinese imports, in some cases up to a punishing 245%, excluding only a few politically-sensitive categories like smartphones and pharmaceuticals. Trump’s message has been blunt: “We’re going to have a deal with China. And if we don’t, we’re going to have a deal anyway, because we will set a certain target, and that’s going to be it.”China has responded with its own tariffs of up to 125% on American goods.. “China does not want to fight, but it is not afraid to fight,” warned Lin Jian, a foreign ministry spokesperson. The country’s […]