(HT) India’s manufacturing sector expanded at its fastest pace in 10 months in April, driven by strong demand and a sharp rise in output, a private survey released on Friday said. The HSBC India Manufacturing Purchasing Managers’ Index (PMI), compiled by S&P Global, rose to 58.2 in April from 58.1 in March and 56.3 in February. The index was at 57.7 in January and 56.4 in December. A reading above 50 indicates expansion, and below 50 a contraction. “Growth momentum in the Indian manufacturing industry improved in April, with output increasing at the fastest pace since June 2024 on the…
Author: Aruna Sharma
(HT) India is exploring ways to increase fertiliser imports from the US in a bid to reduce its dependence on countries like China and narrow the trade imbalance between New Delhi and Washington, an official said. The country’s fertiliser imports dipped by 7.16% to $8.29 billion in 2024-25 as against $8.92 billion in 2023-24 and $15.32 billion in 2022-23. The top five import sources of India are Russia, Saudi Arabia, Oman, China, Morocco, and the US, the official said. In the last fiscal, the inbound shipments of this commodity from Russia dipped by 11.18% to $1.84 billion as compared to…
(HT) The Indian Air Force (IAF) carried out a flypast on the Ganga Expressway in Uttar Pradesh on Friday. The Air Force conducted take-off and landing exercises on a 3.5-kilometre-long airstrip in Shahjahanpur, part of the under-construction Ganga Expressway in Uttar Pradesh. It showcased its operational readiness with take-off and landing exercises with its advanced fighter and transport aircraft, including the Rafale, Jaguar, and Mirage. The exercise is being organised to assess the expressway’s potential as an alternative runway during war or national emergencies. According to a statement released on Thursday, “This will be the first airstrip in the country…
(FE) Tata Consultancy Services (TCS) and IBM are collaborating to advance the quantum industry in India through the Government of Andhra Pradesh’s new Quantum Valley Tech Park, which is under construction in Amaravati. The park will house an IBM Quantum System Two, equipped with a 156-qubit Heron quantum processor, making it the largest quantum computer in India. TCS is working with IBM to help develop algorithms and applications aimed at enabling Indian industry and academia to tackle complex national challenges. The initiative is intended to accelerate the growth of India’s quantum ecosystem, with the involvement of the Government of Andhra Pradesh, IBM, and TCS.…
(BS) Tech Mahindra on Friday said its wholly owned subsidiary, Tech Mahindra London Ltd (TMLL), has entered into a definitive agreement to acquire Mahindra Racing UK Ltd (MRUK) from Mahindra Overseas Investment Company (Mauritius) Ltd (MOICML). MOICML is a wholly owned subsidiary of Mahindra & Mahindra Ltd (M&M). This deal, executed through a share purchase agreement, involves TMLL acquiring 100 per cent shareholding in MRUK for a cash consideration of GBP 1.2 million (approximately Rs 13.5 crore). Upon completion, MRUK will become a wholly owned subsidiary of TMLL and, by extension, of Tech Mahindra Ltd. Tech Mahindra said it sees…
(FE) As tensions rise between India and Pakistan following a Pahalgam terror attack in Kashmir, New Delhi has requested the International Monetary Fund (IMF) to review its loan programme to Islamabad, according to a senior Indian government source cited by Reuters. India raises concerns over IMF lending India’s concerns come in the wake of a brutal attack in Kashmir that killed 26 people on April 22. The Indian government has identified three attackers—two of whom it claims are Pakistani nationals—and labelled them as “terrorists.” Islamabad has denied any involvement and called for a neutral, international investigation. The Indian government has…
(HT) Indian fuel retailer Bharat Petroleum Corp Ltd expects a net gain of $20 to $30 a metric tonne on delivery of US liquefied petroleum gas through swap deal with Middle Eastern suppliers, its head of finance said on Friday. BPCL, India’s second-biggest state refiner, is in talks with suppliers to swap contracted Middle Eastern cargo with US supplies, Vetsa Ramakrishna Gupta told analysts. A US-China tariff war has widened the price gap between Middle Eastern and US LPG and upended trade routes. China has imposed duties on goods from the US in response to tariffs imposed by the US…
(HT) The high value ₹2000 notes worth ₹6,266 crore are still in circulation after two years of the Reserve Bank withdrawing the currency, according to official data. The ₹2,000 banknotes continue to be legal tender. On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of ₹2,000 denomination banknotes from circulation. In a statement on Friday, the RBI said the total value of ₹2000 banknotes in circulation, which was ₹3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal was announced, declined to ₹6,266 crore at the close of business on April…
(Amar Ujala) मुख्यमंत्री योगी आदित्यनाथ ने कर संग्रह में पारदर्शिता, तकनीकी दक्षता के साथ काम करने के निर्देश दिए हैं। उन्होंने अधिकारियों से अपेक्षा जताई कि कर प्रणाली में नवाचारों को अपनाएं और ईमानदार करदाताओं को हरसंभव सुविधा और सम्मान दें। मुख्यमंत्री शुक्रवार को राज्य कर विभाग की समीक्षा कर रहे थे। मुख्यमंत्री ने साफ कहा कि टैक्स चोरी राष्ट्रीय क्षति है और इसे किसी भी स्थिति में सहन नहीं किया जाएगा। उन्होंने विभागीय स्तर पर टैक्स चोरी रोकने के लिए कठोरतम और सुनियोजित कार्रवाई के निर्देश दिए। बैठक में सीएम को बताया गया कि वित्तीय वर्ष 2024-25 में विभाग…
Dr. Ashok Kumar Panda has taken charge as Director (Finance) of Steel Authority of India Limited (SAIL) on April 30, 2025. Dr. Panda began his career at SAIL in 1992 as a Management Trainee. During his career, Dr. Panda has worked in various capacities across various Plants and Units of SAIL. Widely regarded for his financial & technical knowledge and proactive approach, his expertise spans financial accounting, costing & budgeting, business planning, treasury operations, taxation and strategic management. Throughout his tenure, Dr. Panda has played a pivotal role in strengthening SAIL’s financial position, spearheading key initiatives including deleveraging efforts, cost…