The Cotton Association of India (CAI) on Tuesday reduced the cotton crop estimate by 4.25 lakh bales to 339.75 lakh bales for the 2022-23 season, beginning from October 2022, as the production in Haryana, Andhra Pradesh and Karnataka is expected to decline. The total cotton production in the last season is estimated at 307.05 lakh [...]
India's auto components industry witnessed a 34.8 per cent growth to Rs 2.65 lakh crore in first-half of 2022-23, riding on domestic demand, particularly from the passenger vehicles segment, the Automotive Component Manufacturers Association of India said on Wednesday. During the period, exports of components grew by 8.6 per cent to USD 10.1 billion (Rs [...]
The government is probing 12 automakers including Hero Electric Vehicles and Okinawa Autotech for alleged misappropriation of subsidies under the Rs 10,000 crore FAME scheme, Union Heavy Industries Minister Mahendra Nath Pandey informed Parliament on Tuesday. The complaints received the government mainly relate to violation of Phased Manufacturing Programme (PMP) guidelines under FAME India Scheme [...]
The decline in demand and rise in raw material prices due to high transportation costs are the major problems faced by micro, small and medium enterprises in the last 27 months, according to a survey. The report by Bhartiya Yuva Shakti Trust (BYST) also said that though markets have stabilised, about 57 per cent of [...]
Indian equities will continue to witness strong investor interest next year as well, and are expected to gain nearly 14 per cent over Tuesday's close, a domestic brokerage said. The 50-share benchmark Nifty is estimated to be at 20,922 points by the end of 2023, which is nearly 14 per cent higher than the 18,385.30 [...]
Power distribution utilities or discoms' total outstanding dues reduced by Rs 29,857 crore to Rs 1,08,092 crore, which were Rs 1,37,949 crore on June 3, 2022, Parliament was informed on Tuesday. One of the key indicators of financial distress of discoms is mounting power purchase dues towards the generation companies (gencos). With the implementation of [...]
Investors in France have expressed willingness to invest in Uttar Pradesh in various sectors, including defense, agriculture, dairy, food processing, IT, renewable energy and water transport, officials said on Tuesday. A state delegation led by Uttar Pradesh deputy chief minister Keshav Prasad Maurya and IT minister Yogendra Upadhyay reached Paris on Monday and met representatives [...]
Citing fast-ebbing household inflows into equities, whittling down foreign inflows, and rising bank deposit rates, a foreign brokerage sees a 4 per cent downside to the Nifty target at 18,000 points for the next year from the current levels. After a massive blood bath last week, the Nifty closed at 18,452, gaining over 151 points, [...]
Daiki Axis Japan will infuse fresh investments to expand its presence in south India, a company official said. In November, Haryana Chief Minister Manohar Lal Khattar inaugurated the company's second unit in India in Palwal, which was set up with an investment of Rs 200 crore to produce sewage water treatment units. A unit is [...]
India's domestic passenger traffic rose 11.06 per cent to 116 lakh in November over the year-ago period, according to the latest data from aviation regulator DGCA. In November 2021, the air passenger traffic stood at 105.16 lakh. The data showed that domestic carriers carried 116.79 lakh passengers in November, higher than 114.07 lakh recorded in [...]
