The National Highways Authority of India (NHAI) has pre-paid loans amounting to Rs 56,000 crore during the current fiscal year, resulting in an interest cost saving of around Rs 1,200 crore. The total debt of NHAI has reduced from Rs 3.35 lakh crore to approximately Rs 2.76 lakh crore.
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The Centre has named 20 priority countries and 6 focus sectors to enhance exports, with a strategy meeting held with Indian Mission officials to boost trade. Additionally, over 5,000 startups have closed, but the overall startup ecosystem continues to grow with the recognition of over 1,57,000 startups.
Shares of Coffee Day Enterprises surged 20% after the National Company Law Appellate Tribunal (NCLAT) set aside insolvency proceedings against the company. The stock reached its 52-week high on both BSE and NSE. The decision overturns an earlier order by the Bengaluru bench of NCLT.
In 2024, funds raised for Indian startups fell to $2.7 billion, the lowest in four years. SoftBank and Tiger Global issued smaller follow-on checks and remained cautious. With global investors on the sidelines, local family offices and hedge funds led the investments. Analysts expect startup funding to pick up pace in the coming months.
Prime Minister Narendra Modi urged the Indian industry to act decisively to leverage global opportunities, identifying India as a trusted partner. He announced missions to boost manufacturing and exports, emphasizing policy stability and an improved business environment, including significant compliance reductions and new initiatives for MSMEs.
Home-cooked meal costs rose in December, with vegetarian thalis up 6% to Rs 31.6 per plate and non-vegetarian thalis increasing 12% to Rs 63.3 per plate, driven by higher prices of tomatoes, potatoes, and broiler chicken. The cost rise was partially offset by an 11% drop in LPG prices.
Retail credit growth in India decelerated in Q2FY25, significantly impacting affordable housing and low-cost two-wheeler loans. However, higher-value loans experienced an uptick. Personal loan originations and credit card usage saw growth, while overall credit demand hit a two-year low with mixed delinquency trends.
IL&FS Group has declared a Rs 5,000 crore payout to its creditors as part of its debt resolution efforts. The distribution includes Rs 3,500 crore in InvIT units linked to six road assets and Rs 1,500 crore in cash, primarily benefiting large creditors and public funds. This payout aims to significantly reduce the group's outstanding debt.
China's GDP is expected to grow around 5% in 2024, says President Xi Jinping. The economy showed stability despite uncertainties, aided by stimulus measures. Xi emphasized proactive macroeconomic policies for 2025 while addressing challenges. Upcoming monetary easing by the PBOC and further stimulus measures are anticipated to support growth amid weak demand and external uncertainties.
Union minister Jitendra Singh announced that India's space sector has attracted over Rs 1,000 crore investment recently, with space economy expected to grow five-fold to $44 billion. At the ETNOW.in Business Conclave, the need for updating Indian IT laws was highlighted, while Arunachal Pradesh governor emphasized the importance of strong border security, innovation, and infrastructure for attaining Viksit Bharat.
Sajjan Jindal, chairman of the JSW Group, plans to invest Rs 5.8 lakh crore ($70 billion) in renewables, steel, cement, infrastructure, and automobiles over the next six years. Jindal argues that India needs tariffs to protect domestic industries from cheaper Chinese imports, which are threatening local manufacturers. He stresses the need for government support to compete with China.