India's micro finance institutions (MFIs) have seen a surge of over 2,176 per cent in growth from Rs 17,264 crore in March 2012 to Rs 3.93 lakh crore by November 2024. Challenges such as fundraising and portfolio quality were discussed in a DFS meeting, with suggestions for credit guarantees and special funds.
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Akasa Air pilots have raised concerns over training issues, prompting a demand for a DGCA audit after two senior officials were suspended. Pilots plan to form a union, citing ongoing resignations and bond commitments. The airline disputes training and attrition claims, having recruited 324 pilots since October 2023.
Biocon is set for major growth in the next 2-3 years, propelled by new generics and biosimilars. The Viatris acquisition strengthens its position in the U.S. market, with significant market share in some products already achieved. December quarter revenue increased by 14% in biosimilars and research services.
India's foreign exchange reserves fell by $2.54 billion to $635.721 billion for the week ending February 14. The decline ended a three-week rise, during which reserves had increased by $7.654 billion. The forex reserves were impacted by a drop in foreign currency assets, while gold reserves and SDRs saw a rise.
The government plans to transform India Post into a large logistics organization to support the rural economy. With 1.5 lakh rural post offices and the India Post Payment Bank, it aims to offer services like rural community hubs, institutional accounts, and credit services to micro enterprises.
India’s foreign exchange reserves increased by $7.654 billion to $638.261 billion in the week ending February 7. This marks the third straight weekly rise, driven mainly by gains in foreign currency and gold reserves, after previous declines due to currency revaluation and market interventions.
Economist Thomas Piketty addressed India's extreme inequality, second only to South Africa. He advocated for a 2% wealth tax on the ultra-rich to fund public services and broaden the tax base, citing China's success with increased tax revenue and reduced inequality. He emphasized India's potential for faster growth and poverty reduction with less inequality.
Indians embraced quick commerce for groceries and non-grocery items in 2025, leading to higher average order values. Companies experienced rapid growth, though expansion into smaller cities may hinder profitability. Regulatory scrutiny and stiff competition from established e-commerce platforms could further complicate the landscape.
Underlines shift to branded products
Budget 2025 expectations: FICCI advises Finance Minister Nirmala Sitharaman to maintain emphasis on investments and implement next-gen reforms in Union Budget 2025. Key recommendations include boosting capex by 15% and establishing inter-state platforms for reforms in land, labor, and power sectors.
India's gems and jewellery sector is highly dependent on exports, with the US being a major market. In FY 2023-2024, India's total exports of gems and jewellery stood at $32.85 billion, with $9.95 billion directed to the US, accounting for 30.29% of the sector's exports.