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Electronic sector now a Rs.11.5 lakh crores industry, Ashwini Vaishnaw explains what’s driving the massive surge

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India’s electronics manufacturing sector has grown sixfold to a valuation of Rs. 11.5 lakh crores, creating 25 lakh jobs, announced Union Minister, Ashwini Vaishnaw. Under Prime Minister,  Narendra Modi’s  visionary schemes,  the electronics manufacturing has emerged as a top sector in India, with production increasing 6 times in past 11 years — resulting in it becoming a […]

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Simplified GST for Growth of Indian Commerce and Trade

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Empowering commerce through simplified taxation. Key Takeaways: GST on leather, footwear and related job work reduced from 12% to 5%. On packaging paper GST cut to 5% and down from 28% to 18% on Commercial Goods Vehicles. Textiles see major correction with man-made fibers cut from 18% to 5%, yarn from 12% to 5%. On Toys and sports goods, GST […]

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PremjiInvest, Gaja Capital, Accel, Others Team Up to Back Indian DeepTech Startups

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At least eight venture capital and private equity firms from the US and India have teamed up to launch the India Deep Tech Investment Alliance (IDTA) to mobilise private capital and expertise for deep-tech companies in the South Asian nation. The group, which will also work to strengthen US-India deep tech collaboration, counts Celesta Capital, […]

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India-US trade deal: BIG update on tariff talks from Piyush Goyal – FULL Statement

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India-US trade deal: Piyush Goyal also highlighted that India is in active dialogue with the European Union (EU), with the European Commissioner for Trade, Maroš Šefčovič, likely to visit next week. Minister of Commerce and Industry, Piyush Goyal , on Wednesday announced that efforts are being made to conclude a bilateral trade agreement with the United States […]

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Services sector sees fastest growth in 15 years

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India’s key services sector extends its four-year growth streak, underscoring sustained economic momentum. August, driven by a surge in demand and new business, according to a private survey released on Wednesday. The HSBC India Services Purchasing Managers’ Index (PMI), compiled by S&P Global, climbed to 62.9 in August, up from 60.5 in July and 60.4 […]

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UP approves policy to boost manufacturing of key electronics components

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The policy, aligned with the Centre’s Electronics Component Manufacturing Scheme (ECMS), will come into effect from April 1, 2025, for a period of six years, according to an official statement. The Uttar Pradesh Government on Tuesday approved an electronics component manufacturing policy with an investment target of Rs 5,000 crores to promote production of 11 […]

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E-commerce startup CityMall grabs $47M funding led by Accel

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With the fresh capital, CityMall plans to expand deeper into existing geographies, foray into adjacent markets, strengthen its supply chain network and invest in private labels and brand partnerships. CityMall, the Gurugram-based value e-commerce startup, has raised $47 million in its Series D round led by Accel. The round also saw participation from existing backers, […]

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Industry 5.0 is the next big leap for India

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With greater emphasis on collaboration between humans and intelligent machines, workers need to be proficient in emerging technologies like artificial intelligence, robotics, data analytics, cybersecurity and the Internet of Things. We need to position ourselves as a global hub of brainpower, skills, world-class platforms and products; only then will we be able to accelerate the […]

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PMI manufacturing inched up to 59.3 in August:

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Manufacturing accounts for around 17% of India’s gross domestic product. With frontloading of production to complete the pre-50% tariff exports, Purchasing Managers Index (PMI) for manufacturing sector rose to 59.3 in August as against 59.1 of July, S&P Global reported on Monday. Good news is that fresh job creation rose for 18 successive months, though pace was slow. The […]

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CBDT eases black money rules: Why experts are calling it a pragmatic move

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Taxpayers with undisclosed foreign assets worth up to ₹20 lakhs, excluding property, will not face penalty or prosecution under revised Black Money Act rules. The Income Tax Department has relaxed provisions under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (BMA). Individuals with small-value foreign assets will not face […]

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