Business

Piyush Goyal Launches Ease of Doing Business Portal

Union Commerce and Industry Minister Shri Piyush Goyal inaugurated the (Confederation of Indian Industry) CII Ease of Doing Business (EoDB) and Regulatory Affairs Portal at the 2nd DPIIT–CII National Conference on Ease of Doing Business in New Delhi. The portal...

Alphabet Gets CCI Nod to Invest in Flipkart

The Competition Commission of India (CCI) has granted approval to Alphabet Inc.'s subsidiary, Shoreline International Holdings LLC, to acquire a stake in Walmart-owned Flipkart Pvt Ltd. This follows Flipkart’s May 2024 funding round, where Alphabet’s Google invested $350 million out...

Confederation of Indian Industry Launches New Strategy Cell

The Confederation of Indian Industry (CII) has established a strategy cell in Coimbatore, with the goal of helping businesses, especially in the manufacturing sector, develop sustainable growth strategies and become global players. The initiative aims to support select industries by...

India-EFTA Trade Deal: $100 Billion Investment & Boost to Exports

India has signed a historic Trade and Economic Partnership Agreement (TEPA) with four European countries—Switzerland, Iceland, Norway, and Liechtenstein—forming the European Free Trade Association (EFTA). This agreement is expected to provide India access to 99.6% of EFTA’s market, generating $100...

Zomato to Replace JSW Steel on BSE Sensex from December 23

On November 22, 2024, the Asia Index Private Ltd, a subsidiary of the Bombay Stock Exchange (BSE), announced the latest reconstitution of the benchmark BSE Sensex index. As part of this rejig, Zomato, the online food delivery giant, will replace...

India’s Forex Reserves See Sharpest Weekly Fall in Record, Hit 4-Month Low

India's foreign exchange reserves suffered their largest weekly drop on record, falling by $17.76 billion to a four-month low of $657.8 billion for the week ending November 15, 2024. This marks the sharpest decline since records began in 1998, surpassing...

DPIIT Approves Hinduja Group’s IIHL Acquisition of Reliance Capital

The Department for Promotion of Industry and Internal Trade (DPIIT) has granted approval for the ₹10,000-crore acquisition of Reliance Capital Ltd (RCAP) by IndusInd International Holdings Ltd (IIHL), a Hinduja Group-backed firm. This marks a significant development in the resolution...

Meta Fined ₹213.14 Crore Over WhatsApp Privacy Policy: Challenges Loom

Meta has announced its intention to appeal a ₹213.14 crore fine imposed by the Competition Commission of India (CCI) regarding its 2021 WhatsApp privacy policy update. CCI accuses the company of anti-competitive practices, including forcing users to accept new data-sharing...

Punit Goenka’s Resignation as MD and CEO of Zee Entertainment

Punit Goenka, the Managing Director (MD) and Chief Executive Officer (CEO) of Zee Entertainment Enterprises, resigned from his position as MD but will continue to serve as CEO of the company. This decision comes just days before a shareholders' meeting...

Moody’s Optimistic About India’s Economic Growth Despite Volatility

Moody’s Ratings has projected steady growth for India, maintaining its forecast of 7.2% GDP growth for 2024, despite some signs of slowdown in urban demand and mixed corporate results in Q2. The global rating agency highlighted positive economic indicators, including...