THEBUSINESSBYTES BUREAU NEW DELHI, JANUARY 4, 2025 In a transformative move to accelerate the growth of Indian startups and amplify their global presence, the Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce & Industry, has joined hands with Stride Ventures, a premier venture debt firm. This strategic collaboration aims to blend financial empowerment with ...

THEBUSINESSBYTES BUREAU BHUBANESWAR, JANUARY 3, 2025 Dr Hari Babu Kambhampati was sworn in as the Governor of Odisha during a ceremonious event at the Raj Bhavan on Friday. The oath of office was administered by Chief Justice of Orissa High Court, Chakradhari Sharan Singh, in the Abhishek Hall amidst the presence of dignitaries and state leaders. Dr Kambhampati succeeds Raghubar ...

THEBUSINESSBYTES BUREAU NEW DELHI, JANUARY 2, 2025 In a significant push towards sustainable transportation, the Indian government announced that 16.15 lakh electric vehicles (EVs) have been incentivized under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India (FAME India)-II scheme. The initiative, launched in 2019, underscores India’s commitment to eco-friendly mobility solutions and a greener future. The ...

THEBUSINESSBYTES BUREAU NEW DELHI, JANUARY 2, 2025 In a groundbreaking development, scientists have unveiled a nano-formulation of melatonin — the brain’s darkness hormone — that demonstrates remarkable antioxidative and neuroprotective properties, positioning it as a promising therapeutic solution for Parkinson’s disease (PD). This innovative approach has been spearheaded by researchers at the Institute of Nano Science and Technology (INST) Mohali, ...

THEBUSINESSBYTES BUREAU NEW DELHI, JANUARY 2, 2025 In a significant move aimed at aligning price indices with the evolving economic landscape, the government has constituted a Working Group under the leadership of NITI Aayog member Ramesh Chand to revise the base year of the Wholesale Price Index (WPI) from 2011-12 to 2022-23. The 18-member panel, which includes representatives from key ...

THEBUSINESSBYTES BUREAU NEW DELHI, JANUARY 2, 2025 India has reaffirmed its position as a global textile powerhouse, claiming 3.9% of the global trade in textiles and apparel (T&A) in 2023, and ranking as the world’s sixth-largest exporter in the sector. Textiles and apparel, including handicrafts, constituted a robust 8.21% of India’s total exports for the fiscal year 2023-24, underscoring the ...

THEBUSINESSBYTES BUREAU NEW DELHI, JANUARY 1, 2025 Bhuvnesh Kumar, a distinguished Indian Administrative Service (IAS) officer of the 1995 batch Uttar Pradesh cadre, assumed charge as the Chief Executive Officer (CEO) of the Unique Identification Authority of India (UIDAI) on Wednesday. With a stellar academic and professional track record, Kumar brings a wealth of experience and expertise to his new ...

THEBUSINESSBYTES BUREAU NEW DELHI, JANUARY 1, 2025 India’s mineral and non-ferrous metal sectors have maintained their momentum of robust growth during FY 2024-25 (April-November 2024), building on record production levels achieved in the previous fiscal year. The nation continues to solidify its position as a global leader in mineral production, driven by strong demand across core industries like steel, energy, ...

THEBUSINESSBYTES BUREAU NEW DELHI, JANUARY 1, 2025 In a significant move to fortify the agricultural sector, the Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the continuation of the Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather Based Crop Insurance Scheme (RWBCIS) till 2025-26. With an overall financial outlay of Rs 69,515.71 crore for the ...

New Delhi, November 29 (TBB Bureau): India’s economy recorded a robust Gross Domestic Product (GDP) growth rate of 5.4% in the second quarter (July-September) of the current financial year, according to data released by the Ministry of Statistics on Friday. Despite a marginal slowdown from the 6.7% growth seen in Q1 (April-June), India continues to outpace its global peers, maintaining ...

New Delhi, November 21, 2024 (TBB Bureau): The Central Government on Thursday launched the ‘Viksit Bharat Initiative for Student Innovation and Outreach Network’ (VISION) portal, a transformative platform designed to nurture education, skill development, and innovation among underprivileged children across India. Union Minister of State (Independent Charge) for Science and Technology, Dr. Jitendra Singh, launched the portal in the national ...

New Delhi, November 12, 2024 (TBB Bureau): India’s industrial sector showed robust recovery in September with a 3.1% rise in the Index of Industrial Production (IIP), reversing a 0.1% contraction in August, as per data from the Ministry of Statistics released on Tuesday. The surge underscores renewed momentum in manufacturing, electricity generation, and mining, marking a significant step forward in ...

New Delhi, November 11, 2024 (TBB Bureau): Justice Sanjiv Khanna was sworn in today as the 51st Chief Justice of India (CJI), bringing with him a legacy of landmark judgments and a commitment to expediting justice delivery in the country. With his tenure set to conclude on May 13, 2025, Justice Khanna aims to leave an indelible mark on the ...

New Delhi, November 9, 2024 (TBB Bureau): India’s power sector is gearing up for unprecedented growth, driven by a surge in energy demand and ambitious renewable energy targets that are reshaping the country’s energy landscape. With projections indicating that India will see a greater increase in energy demand over the next decade than any other country, investments in the nation’s ...

New Delhi, November 9, 2024 (TBB Bureau): “The Ministry of Ports, Shipping & Waterways (MoPSW) remains dedicated to creating efficient, eco-friendly spaces that support sustainable practices benefiting both our communities and environment,” said Union Minister for Ports, Shipping & Waterways, Sarbananda Sonowal, highlighted the Ministry’s commitment to fostering a cleaner and more sustainable work environment. His statement followed the successful ...

New Delhi, October 24, 2024 (TBB Bureau): In a significant move for the Indian judiciary, the Central Government has officially appointed Justice Sanjiv Khanna as the next Chief Justice of India (CJI). This decision was confirmed through a notification from the Union Ministry of Law and Justice, which stated, “In exercise of the powers conferred by clause (2) of Article ...

New Delhi, October 24, 2024 (TBB Bureau): The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the establishment of a Rs 1,000 crore venture capital (VC) fund aimed at enhancing the Indian space sector and generating employment. The fund, to be managed by IN-SPACe, will be operational for up to five years and is expected to support startups ...

Bhubaneswar, October 17, 2024 (TBB Bureau): The Ministry of Education has launched the fifth phase of Yuva Sangam, an inspiring initiative under the Ek Bharat Shreshtha Bharat (EBSB) programme. This unique programme offers youth across India the opportunity to represent their respective states or Union Territories, fostering a deeper understanding of India’s cultural and regional diversity. Interested candidates, aged 18-30, ...

New Delhi, October 4, 2024 (TBB Bureau):  The Union Ministry of Environment, Forest and Climate Change on Friday officially notified the Ecomark Rules as part of the ‘LiFE’ (Lifestyle for Environment) initiative, which was announced by Prime Minister Narendra Modi in 2021. This new framework, established on September 26, 2024, replaces the Ecomark scheme introduced in 1991, signifying a modern ...

New Delhi, October 4, 2024 (TBB Bureau): Finance Minister Nirmala Sitharaman on Friday said that India’s per capita income is projected to increase by at least $2,000 over the next five years, driven by overall economic growth. Speaking at the Kautilya Economic Conclave, organized by the Ministry of Finance in collaboration with the Institute of Economic Growth (IEG), Sitharaman highlighted ...

New Delhi, September 18, 2024 (TBB Bureau):  In a significant move aimed at securing the financial future of children, Finance Minister Nirmala Sitharaman on Wednesday launched the NPS Vatsalya scheme, allowing parents to open pension accounts for their children. Under the scheme, parents can easily subscribe to NPS Vatsalya online or by visiting a bank or post office. The account ...

New Delhi, September 17, 2024 (TBB Bureau): Wholesale inflation reached a four-month low of 1.31% in August, driven by falling prices of vegetables and fuel, despite significant increases in onion and potato prices, according to data released on Tuesday. This marks the second consecutive month of declining wholesale price index (WPI) inflation, following a peak of 3.43% in May. In ...

Bhubaneswar, September 17, 2024 (TBB Bureau): Prime Minister Narendra Modi inaugurated railway and national highway projects valued at over Rs 3,800 crore on Tuesday, commemorating 100 days of the NDA government 3.0. During his address, Modi launched the Odisha government’s ‘Subhadra Yojana,’ a financial assistance initiative aimed at empowering women, which he described as crucial for the state’s development. He ...

NEW DELHI, SEPTEMBER 16, 2024 (TBB BUREAU):  Finance Minister Nirmala Sitharaman is set to unveil the New Pension Scheme (NPS) ‘Vatsalya’ in New Delhi on September 18. The launch event will include participation from schoolchildren and will be mirrored by similar events at approximately 75 locations across India. Introduced in the Union Budget 2024, the ‘Vatsalya’ scheme enables parents to ...

Bhubaneswar, September 9, 2024 (TBB Bureau): Akhil Kumar Mishra, a distinguished officer from the 1999 batch of the Indian Information Service, has assumed the role of Additional Director General (ADG) of the Press Information Bureau (PIB) and the Central Bureau of Communication (CBC) in Bhubaneswar, under the Ministry of Information and Broadcasting. In addition to his primary responsibilities, Mishra will ...

New Delhi, September 3, 2024 (TBB Bureau):  The Indian economy continues to grow at a healthy pace despite challenging global conditions, according to the World Bank’s latest India Development Update: India’s Trade Opportunities in a Changing Global Context. However, to reach its $1 trillion merchandise exports goal by 2030, India must diversify its export basket and leverage global value chains. ...

New Delhi, August 28, 2024 (TBB Bureau):  The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, has approved three major railway projects with a combined estimated cost of Rs 6,456 crore. The projects, undertaken by the Ministry of Railways, are slated for completion by the fiscal year 2028-29 and are expected to generate approximately 114 lakh ...

New Delhi, August 9, 2024 (TBB Bureau):  India’s steel industry has experienced a remarkable surge, with crude steel production skyrocketing by over 35 million tonnes in the last four years. Production rose from 109.14 million tonnes in 2019-20 to an impressive 144.30 million tonnes in 2023-24, the government revealed in Parliament on Friday. Minister of State for Steel and Heavy ...

New Delhi, August 8, 2024 (TBB Bureau): Union Minister of State (Independent Charge) for Science and Technology, Jitendra Singh, declared that the Bio-Economy and Space Economy will be central to India’s future growth during the launch of the ‘Impact Report 2024’ on the National Biopharma Mission. The event, held at the Dr. Ambedkar International Centre, marked a five-year milestone for ...

Mumbai, August 8, 2024 (TBB Bureau): The Reserve Bank of India (RBI) has decided to maintain its benchmark interest rate at 6.50% for the ninth consecutive policy meeting, underscoring its continued focus on curbing persistent food inflation and ensuring economic stability. In its latest announcement, the Monetary Policy Committee (MPC) — comprising three RBI officials and three external members — ...

THE sudden ouster of Sheikh Hasina as Bangladesh’s Prime Minister has sent shockwaves through the subcontinent, with implications that stretch far beyond the borders of this besieged nation. As the dust settles on the violent protests that led to her resignation, a stark reality emerges: the tremors of this political earthquake will be felt acutely in India’s corridors of power ...

New Delhi, August 2, 2024 (TBB Bureau): The volume of cargo transported through India’s inland waterways has soared more than six-fold from 18.07 million metric tonnes (MMT) in 2013-14 to 133.03 MMT in 2023-24, Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal informed the Lok Sabha on Friday. Starting from FY 2014-15, the country’s waterways traffic has been rising ...

New Delhi, August 3, 2024 (TBB Bureau): The coal sector has achieved the highest growth rate of 14.8 per cent (provisional) among the eight core industries for June 2024, according to the latest Index of Eight Core Industries (ICI) released by the Union Ministry of Commerce & Industries. The index for the coal industry surged to 186.4 points in June ...

New Delhi, July 23, 2024 (TBB Bureau): Union Finance Minister Nirmala Sitharaman announced on Tuesday that India’s capital expenditure (capex) for the fiscal year 2025 will remain at Rs 11.11 lakh crore, as initially set in the Interim Budget presented in February. This figure represents an increase from the previous year’s revised estimate of Rs 9.5 lakh crore. The Finance ...

New Delhi, July 19, 2024 (TBB Bureau):  The Government e-Marketplace (GeM) Learning Management System (LMS) has been upgraded to include six more official languages, bringing the total to 12. This enhancement, announced by the Commerce and Industry Ministry on Friday, aims to make the platform more accessible and user-friendly. The e-Learning training courses are now offered in Assamese, Bengali, English, ...

New Delhi, July 19, 2024 (TBB Bureau):  The Ministry of Mines is set to host a significant event focusing on mineral exploration and critical mineral resources at Begumpet, Hyderabad, on July 20, 2024. The occasion will be honored by Union Minister for Coal and Mines, G. Kishan Reddy, alongside the Minister of State for Coal and Mines, Satish Chandra Dubey, ...

Delhi, July 17, 2024 (TBB Bureau):  Camposol, Peru’s largest blueberry producer, has announced a strategic partnership with Walmart-backed Ninjacart, India’s leading agri-startup, to introduce high-quality blueberries to Indian consumers. This collaboration leverages Ninjacart’s technology-driven platform to transform the blueberry market in India. The partnership aims to revolutionize the supply chain of blueberries by using Ninjacart’s digital marketplace, tech-enabled solutions, and ...

NEW DELHI, JULY 15, 2024 (TBB BUREAU):  The Union Coal Ministry inked development and production agreements on Monday for three coal mines auctioned in the second attempt of the 7th round, paving the way for an anticipated investment of Rs 4,500 crore. The mines involved are the Machhakata coal mine, the Kudanali Lubri coal mine, and the Sakhigopal-B Kakurhi coal ...

New Delhi, July 12, 2024 (TBB Bureau): India’s consumer price inflation rose to 5.08 percent in June compared to the same month last year, driven by higher prices of vegetables and pulses, according to data released by the Ministry of Statistics on Friday. Vegetable prices surged by 29.32 percent due to a severe heat wave in northern states impacting production, ...

New Delhi, July 12, 2024 (TBB Bureau):  Indian Railways has achieved a significant milestone in coal transportation, marking a record increase in coal loading during the financial year 2023-24. According to data released by the Ministry of Railways, coal loading surged to 787.58 million tons, up from 727.98 million tons in the previous fiscal year 2022-23, registering a substantial rise ...

New Delhi, July 11, 2024 (TBB Bureau): Government e-Marketplace (GeM) has reported a substantial growth with a gross merchandise value (GMV) of Rs 1.25 lakh crore in the first quarter (April-June) of the financial year 2024-25, marking a remarkable 136% increase from last year’s Rs 52,670 crore in the same quarter. The services segment emerged as the key driver, achieving ...

New Delhi, July 11, 2024 (TBB Bureau):  The Exploration and Production (E&P) sector presents investment opportunities worth 100 billion USD by 2030, announced Hardeep Singh Puri, Minister of Petroleum & Natural Gas, during his address at the inaugural session of the first edition of Urja Varta. Emphasizing the sector’s role in achieving energy self-sufficiency and fostering economic growth, the Minister ...

New Delhi, July 4, 2024 (TBB Bureau): The Indian government is set to unveil a new Ship Building and Ship Repair Policy as part of its 100-day action plan, aiming to elevate India among the top 10 global players in the sector by 2030 and the top 5 by 2047, according to TK Ramachandran, Secretary of the Ministry of Ports, ...

New Delhi, July 4, 2024 (TBB Bureau):  Union Minister for Commerce and Industry, Piyush Goyal, on Thursday unveiled significant concessions aimed at boosting entrepreneurship among women and supporting MSMEs in the petroleum and explosives sectors. According to an official statement released on Thursday, these measures include an 80 per cent fee reduction for women entrepreneurs and a 50% reduction for ...

New Delhi, July 4, 2024 (TBB Bureau): The Finance Ministry has announced a 7.1 percent interest rate for the General Provident Fund (GPF) and similar provident fund schemes for Central government employees for the July-September quarter of the fiscal year 2024-2025. In a circular dated July 3, the Finance Ministry stated, “It is announced for general information that during the ...

KOLKATA, JULY 1, 2024 (TBB BUREAU): Coal India Limited (CIL) announced a robust 8 per cent increase in coal production, achieving 189.3 million tonnes in the first quarter of the current fiscal year, surpassing its target of 189.2 million tonnes. This growth marks a significant rise of 13.8 million tonnes compared to the same quarter in FY’24, driven by positive ...

NEW DELHI, JULY 1, 2024 (TBB BUREAU): On Monday, the price of jet fuel (Aviation Turbine Fuel or ATF) was increased by 1.2 per cent, while the cost of commercial LPG used in hotels and restaurants was reduced by Rs 30 per 19-kg cylinder, in alignment with international oil price trends. According to a price notification from state-owned fuel retailers, ...

NEW DELHI, JULY 1, 2024 (TBB BUREAU): In a landmark initiative, the government-run Open Network for Digital Commerce (ONDC) announced the induction of 300 sellers and 400 women entrepreneurs into its e-commerce platform on Monday. This significant expansion aims to empower local businesses and artisans across India. The newly onboarded 300 sellers hail from six notable clusters: Lucknow (Chikankari), Moradabad ...

New Delhi, June 25 (TBB Bureau): The Union Government on Tuesday announced the commencement of a significant spectrum auction worth Rs 96,238.45 crore for telecom services. The Ministry of Communications stated that a total of 10,522.35 MHz of spectrum across various bands is up for bidding. The auction includes spectrum in the 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, ...

NEW DELHI, JUNE 20, 2024 (TBB BUREAU): The Employees’ Provident Fund Organisation (EPFO) has announced its provisional payroll data for April 2024 on Thursday, showcasing remarkable growth in net member additions. With 18.92 lakh new members, this surge marks the highest monthly increase since the inception of payroll data in April 2018. A notable 31.29% rise has been recorded compared ...