IIT Madras, Walmart to help MSMEs with AI, IoT

Walmart sets up Centre of Tech Excellence in IIT Madras to help MSMEs

from | The Hindu

Gender budgeting requires more robust and intersectional process, finds study

from | The Hindu

Are States getting funds they are entitled from the Centre?

Agitations by different State governments in New Delhi have highlighted many disquieting issues in the practice of fiscal federalism in India. In light of this, the 16th FC must take initiative to correct historical wrongs in vertical devolution through compensations to the States

from | The Hindu

Rupee turns flat against US dollar in early trade

According to forex analysts, crude oil prices hovering above USD 83 per barrel also weighed on the domestic currency

from | The Hindu

WTO MC13 | Over 70 WTO nations agree to take additional obligations in services sector; India to benefit

72 WTO members are taking the additional obligations to ease non-goods trade among themselves and extend similar concessions to all other members of the WTO

from | The Hindu

German firm Miltenyi Biotec opens office, plans Cell and Gene Therapy CoE

from | The Hindu

The Competition Regulator’s latest addition to the ‘whisteblower’ mechanism to trace cartels | Explained

The Ministry of Corporate Affairs (MCA) notified the ‘Lesser Penalty’ Regulations, 2024 on February 20, introducing a ‘Lesser Penalty Plus’ regime, which incentivises existing industry participant(s) turned ‘whistleblowers’ to present “full, true and vital disclosures” about another cartel in the ecosystem.

from | The Hindu

Rupee turns flat at 82.88 against U.S. dollar in early trade

According to forex analysts, support from a weak dollar was negated by higher level of crude oil prices even as investors adopted cautious move awaiting cues from domestic as well as global macroeconomic data.

from | The Hindu

Top global energy traders face multi-billion cash quandary

Top 4 traders have $60 billion in equity after record profits; retained earnings soar even after record dividends; trading houses are borrowing less from banks; investment opportunities remain limited; poor returns in recent years on wind, solar and hydrogen assets have irked some investors

from | The Hindu

WTO MC13 | What’s on the agenda for India?

From seeking a permanent solution to food security to protecting fishermen, here are some of the key issues of India's interests at the upcoming WTO meeting

from | The Hindu

Paytm advisory panel discussing terms of reference with company: M. Damodaran

from | The Hindu

G-33 nations urge WTO members to find a permanent solution to public stockholding issue

A group of developing and least developed countries want WTO to find a solution to the issue of public stockholding of rice and wheat

from | The Hindu

With food spends down in the country, growth may get leg-up

As per the Household Consumption Expenditure Survey findings for 2022-23, rural spending on food and beverages has dropped to 46.4% from 52.9% in 2011-12, while urban peers spent 39.2% of their overall monthly outgoes on food, compared to 42.6% incurred 11 years earlier

from | The Hindu

After a 11-year gap, Centre discloses key consumption expenditure survey data

The data will play a key role in reviewing critical economic indicators, including GDP, CPI, and poverty levels

from | The Hindu

PM Modi lauds role of cooperatives in farmers’ welfare

PM Modi made his comments while inaugurating the pilot project of “world’s largest grain storage plan”, which is being done across 11 States

from | The Hindu

Engineering exports may turn positive for 2023-24: EEPC

from | The Hindu

SEBI using Artificial Intelligence for investigations, says official

The SEBI has been taking action against violators as well as measures to enhance transparency and curb misdoings.

from | The Hindu

PM Modi inaugurates 11 godowns in PACS under world's largest grain storage plan in cooperative sector

Mr. Modi also laid the foundation stone for an additional 500 PACS across the country for the construction of godowns and other agri infrastructure

from | The Hindu

Amazon says repays $1.9 million to workers in Saudi over unlawful fees

Labour supply companies have threatened to impose steep fines for workers who want to cut short their contracts

from | The Hindu

China 2023 coal power approvals rose, putting climate targets at risk

China has approved 218 GW of new coal power in just two years, enough to supply electricity to the whole of Brazil

from | The Hindu

Airlines test fliers’ tolerance for high prices to bolster profits

Major carriers are straining to lay on more flights to meet demand

from | The Hindu

Pressure grows on China for big policy moves to fix economy

Markets losing patience with China as calls for reforms grow; analysts draw comparisons with 2015 market turmoil; China’s usual stimulus play book won’t work, economists warn; China’s Parliament meets on March 5; Premier Li Qiang expected to set 2024 economic targets; plenum yet to be set

from | The Hindu

Trade deal between India, European Free Trade Association likely within a few days, says Norwegian Minister

FTA talks likely to be concluded in a few days with EFTA, comprising Iceland, Liechtenstein, Norway, and Switzerland; concerns remain about a clause which could delay access to generic drugs in India by six years

from | The Hindu

PhonePe launches app store sans commission charges for developers

Using aggregators that have channeled most popular apps into its new app marketplace, PhonePe seems to be mounting a challenge to Google’s unpopular fees for developers.

from | The Hindu

Boeing ousts head of 737 Max program, appoints new vice president of quality

Boeing says the head of its 737 jetliner program is leaving the company immediately, paving the way for the aircraft maker to appoint new leadership at the troubled division

from | The Hindu

Centre increases Fair and Remunerative Price of sugarcane

Minister Anurag Thakur says the decision will benefit 5 crore farmers, including family members, and lakhs of other persons involved in the sugar sector

from | The Hindu

Govt eases FDI norms in space sector

The Government is easing the FDI in the space sector to generate employment, enable modern technology absorption and to integrate Indian companies into global value chains

from | The Hindu

Lab-grown diamonds put natural gems industry under huge pressure

Manmade gems are reshaping the $89 bn global diamond jewellery market, especially in Surat where 90% of the world’s diamonds are cut and polished; lab-grown diamond exports from India tripled in value between 2019-2022 while exports rose 25% between April and October 2023

from | The Hindu

CCI permits Minda to acquire up to 8.79% of equity share in Pricol

from | The Hindu

Piyush Goyal confident of rate cut by Reserve Bank in coming months

Goyal said that the economic fundamentals of the country are strong and inflation is under check

from | The Hindu

Tata Group to invest ₹2,300 crore in Karnataka to set up an MRO, aviation R&D facilities

All the projects will be first-of-their-kind in India. They will be located at Bengaluru airport, and also at Kolar

from | The Hindu

Arrest of Kochhars in loan fraud case amounted to abuse of power by CBI: HC

The CBI arrested the couple on December 23, 2022, in the Videocon-ICICI Bank loan case

from | The Hindu

Sensex, Nifty rise marginally in early trade

Foreign Portfolio Investors were net buyers as they purchased securities worth ₹253.28 crore

from | The Hindu

RBI action on Paytm Payments Bank has drawn fintechs' attention to compliance of laws: Chandrasekhar

The Minister stressed that regulatory compliance cannot be "optional" for companies, rather it is an aspect every entrepreneur must pay full attention to

from | The Hindu

Expect two-wheeler industry to see double-digit revenue growth next fiscal: Hero MotoCorp

Mr. Gupta stated that the entry level bike vertical, which has seen muted sales over the last few years, is also on a recovery path

from | The Hindu

Zee alleges Star India of violation of agreement of ICC TV deal; seeks refund of ₹68.54 cr

In August, 2022, Zee Entertainment Enterprises had entered into an Alliance Agreement with Star India for a sub-license of TV broadcasting rights of ICC Men's and Under 19 international matches from 2024 to 2027.

from | The Hindu

CDSCO issues sampling guidelines to ensuring quality and efficacy of drugs, cosmetics

Currently, there is no centralised database of sale outlets where "not-of-standard" quality or spurious products were reported

from | The Hindu

How Nigeria's naira fell to record low amid conflict and instability

The situation is at its worst in conflict zones in northern Nigeria, where farming communities are no longer able to cultivate what they eat as they are forced to flee violence.

from | The Hindu

Morning Digest | Donald Trump ordered to pay $355 million in New York fraud case; ED finds no FEMA violation in Paytm Payments Bank case, and more

Here is a select list of stories to start the day

from | The Hindu

ED finds no FEMA violation in Paytm Payments Bank case

The areas of concern flagged by the agency include slackness in adherence to KYC norms such as the processes involving user or merchant onboarding, document collection and authentication, anti-money laundering measures

from | The Hindu

Nigeria tightens API sourcing norms for finished pharma products

from | The Hindu

Accelerating the REvolution – A case for developer-led responsible renewable energy

Responsible RE will strengthen the renewable ecosystem in India, and address roadblocks in siting, public acceptance and find the right synergy between energy security , society and the environment

from | The Hindu

Visa application volumes lag behind 2019 levels

Positive travel momentum expected in 2024, VFS Global advises travellers to apply early

from | The Hindu

Sensex, Nifty rise in early trade

While the 30-share benchmark Sensex gained 115.89 points, the broader Nifty climbed 36.90 points.

from | The Hindu

Japan slips to the world's fourth-largest economy, behind the US, China and now Germany

Japan has slipped to the world’s fourth-largest economy as government data showed it fell behind the size of Germany’s in 2023

from | The Hindu

U.S. farm income set for biggest plunge in 18 years as prices cool

Direct government payments were responsible for about 48% of U.S. net farm income in 2020

from | The Hindu

Rupee falls 4 paise to 83.12 against U.S. dollar in early trade

Forex traders said the strength of the American currency and elevated crude oil prices in the international market dented investors' sentiments.

from | The Hindu

Buyers have fewer choices as brands cut offerings to focus on best sellers

Overall, new items accounted for about 2% of products in stores in 2023 across categories such as beauty, footwear, technology and toys, down from 5% of items in 2019, says market-research firm Circana; retailers are recognising that they have to be respectful of shoppers’ time, says Paco Underhill

from | The Hindu

Gas booming for UN COP29 host Azerbaijan

The country, a member of OPEC+, has a long history with hydrocarbons, which make up half of its economy

from | The Hindu

Hygiene and sanitation rating system for the hospitality sector yet to take off

The ranking scheme launched in November last year by the Union Tourism Ministry in collaboration with the Department of Drinking Water and Sanitation

from | The Hindu

Decoding India’s economic realities: comparing the state of the economy under the NDA and UPA governments

Official data on the real economy under the NDA regime has been criticised from several quarters for overestimating its own macroeconomic performance and undervaluing that of the UPA regime

from | The Hindu

Stock market sees volatile trading in morning session

Opening on a positive note, the 30-share BSE Sensex climbed 52.48 points or 0.07% to 71,647.97 points in early trade. However, it shed the gains and fell 147.85 points or 0.21% to 71,447.64 points.

from | The Hindu

How serendipity led to sticky success for 3M’s Ramesh Ramadurai

How did the son of a banker, who wanted to follow in his footsteps by opting for commerce, end up in IIT-Kanpur? Happenstance, says Ramadurai.

from | The Hindu

FPIs infuse over ₹15,000 crore in debt market in February

This followed a net investment of ₹19,836 crore in January, making it the highest monthly inflow in more than six years

from | The Hindu

RBI sticks to its mandate to curb inflation by keeping rates unchanged

from | The Hindu

Panasonic to develop India operations into export hub

Firm to focus on enhancing output, integrating new technology, product diversification, and mergers and acquisitions to foray into new segments 

from | The Hindu

India should not become sicker before it becomes richer: Chief Economic Adviser

‘Healthy population is the fundamental requirement in the push towards the country becoming developed by 2047’

from | The Hindu

Fugitive economic offenders will be extradited: FM in reply to White Paper debate in Lok Sabha

Blaming the ‘rudderless’ leadership of the UPA for the ‘one big-ticket scam a year’ decade, she says the Congress-led UPA regime compromised national security, while delayed environment clearances hurt development of the country

from | The Hindu

‘It is nothing but a white lie paper’, says Chidambaram

Modi government’s White Paper on economy under UPA is a ‘hatchet job’, says the former Finance Minister

from | The Hindu

Pitti Engineering Q3 PAT up 10% to ₹13.32 crore

from | The Hindu

Supreme Court to hear curative petition by Centre, AAI in Nagpur airport case

The case relates to the decision of the then Maharashtra government to annul the tender awarded to GMR Group in 2020 after the firm emerged as the highest bidde for the Nagpur Airport in 2019.

from | The Hindu

Markets trade firm on buying in Reliance, TCS; Sensex climbs 122 points

The Nifty went up by 45.45 points

from | The Hindu

What are the regulations with respect to rice prices? | Explained

What are the measures the government is taking to bring down the increasing price of rice?

from | The Hindu

UAE wealth fund said to plan $4-5 bn investments via India’s new finance hub

from | The Hindu

European Union wavers over funding UNRWA amid financial collapse fears

The third-biggest donor of the UN agency for Palestinian refugees in Gaza is due to make a €82-million payment at the end of this month; but the 27-nation bloc’s executive branch has demanded an audit of the agency by independent experts after allegations linking its employees to Hamas

from | The Hindu

Vijay Shekhar Sharma, founded of One97 Communications, meets Finance Minister Nirmala Sitharaman

The meeting comes amid the crisis engulfing Paytm Payment Bank’s operations

from | The Hindu

With solar industry in crisis, Europe in a bind over imports from China

Announcements of production closures are piling up, and the sector has warned half of its capacity could shut within weeks unless governments step in; governments and industry are split over how to help; Europe wants to grow local clean technology manufacturing

from | The Hindu

UPI payments hit due to glitch in some banks' systems

NPCI said that its systems are "working fine" and it is working with the impacted banks to ensure quick resolution

from | The Hindu

Rupee turns flat at 83.03 against U.S. dollar in early trade

The Indian currency found support from positive sentiment in the domestic equity markets and sustained inflow of foreign funds

from | The Hindu

China’s tumbling prices push some exporters to the brink

from | The Hindu

Indian village fair gives new lease of life to electronic scrap

The fair offers a range of used gadgets and household goods at far reduced costs

from | The Hindu

Paytm nears record low, market value down about $2.5 billion since RBI crackdown

The stock fell by its daily trading limit to ₹438.5 ($5.28) on Monday, just shy of the previous all-time low of ₹438.35 hit in November 2022

from | The Hindu

Rupee falls four paise to 83.02 against U.S. dollar in early trade

At the interbank foreign exchange, the Rupee opened at 83.03 against the dollar and touched a low of 83.04 before gaining marginally to trade at 83.02, down four paise over its previous close.

from | The Hindu

States to play a critical role in next generation reforms: CEA Anantha Nageswaran

Chief Economic Advisor V. Anantha Nageswaran identifies some of the next generation reforms needed in the coming years

from | The Hindu

Toyota to outshine rivals as more consumers opt for hybrids amid EV slowdown

Toyota is expected to offer a more upbeat outlook when it reports its earnings on Tuesday, helped by its heavy reliance on hybrids, which accounted for around one third of its total sales of more than 10 million vehicles last year

from | The Hindu

Why is fiscal consolidation so important? | Explained

Why was the fiscal deficit estimate announced in the recent Union Budget considered to be ambitious? How does a government fund its expenditure? What is the difference between fiscal deficit and national debt?

from | The Hindu

Finnish phone maker says Nokia, HMD brands will co-exist

from | The Hindu

One Nation, One Election to improve govt efficiency, foster economic development: CII

The industry body emphasised that simultaneous elections, thus, offer a propitious solution by effectively reducing the project implementation delays.

from | The Hindu

Indian economy to grow at 6.7% between fiscals 2024 to 2031: CRISIL

CRISIL said that after a robust 7.3% growth this fiscal, there will be moderation to 6.4% in the next financial year.

from | The Hindu

UPI gets global launch at Eiffel Tower in France

The NPCI said it has tied up with French e-commerce and proximity payments Lyra, which will help ensure that the UPI payment mechanism is accepted in France, starting with the Eiffel Tower

from | The Hindu

To curb price rise, Centre tells traders, millers to declare rice stocks on govt. portal

They have to declare stock position of paddy and rice every Friday

from | The Hindu

The problem of moving attention away from services

In the absence of gainful employment opportunities, and the looming job crisis, the continued neglect of the social sector exacerbates the perpetuation of inequalities

from | The Hindu

Interim Union Budget 2024 | Economy

A look at reports from the key changes in India’s economy

from | The Hindu

State-backed ‘national team’ of investors piles in to prop China stocks

It is unclear exactly who is buying, or whether their pockets are deep enough to turn around the sliding market

from | The Hindu

U.S. bitcoin ETFs raise questions over financial system risks

The SEC this month approved 11 spot bitcoin ETFs from issuers

from | The Hindu

Budget 2024 live | Finance Minister to present sixth budget in a row

Finance Minister Nirmala Sitharaman will set a record by presenting the sixth Budget in a row — five annual Budgets and one interim — a feat achieved so far only by former Prime Minister Morarji Desai.

from | The Hindu

U.S. lawmakers win apology from Zuckerberg in tech grilling

Tech giants are confronting a torrent of political anger for not doing enough to thwart online dangers for children, including from sexual predators and teen suicide

from | The Hindu