MUMBAI: Outward foreign direct investment by Indian companies fell by over 8 per cent to $2.05 billion in December 2021 in the current fiscal, data from the Reserve Bank of India (RBI) showed on Monday. The domestic companies had invested $2.23 billion in their overseas joint ventures and fully-owned subsidiaries during December 2020 in the previous financial year. Of the total investment made by the Indian companies overseas during the month, $1.22 billion was in the form of issuance of guarantees, $464.39 million was equity…
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India is on track to achieve the Paris Accord and COP 26 commitments in accordance with Prime Minister Narendra Modi’s LIFE mantra, Union Environment Minister Bhupender Yadav said on Monday. The minister said he had a productive conversation with United States climate envoy John Kerry and India and the US have agreed to take forward their Climate Action and Finance Mobilisation Dialogue’. Productive phone call with US @ClimateEnvoy Mr John Kerry. We agreed to take forward India-US Climate Action & Finance Mobilisation Dialogue. India is…
India has also aligned closer to more developed ecosystems in pace and capital to produce unicorns. In 2021, Indian businesses averaged 4.3 years from Series A funding to unicorn status, according to Tracxn. This is down from 6.9 years in 2020 and is closer to the global five-year average of 4.2 years. Similarly, Indian startups that turned unicorns till 2020 raised an average of $414 million on hitting a $1-billion valuation, compared to $346 million in the US. For the 2021 India unicorns, that figure…
India and the UK will start active consultation this week to finalize a free trade agreement (FTA). UK secretary of state for international trade Anne-Marie Trevelyan and commerce minister Piyush Goyal are expected to discuss the removal of market access barriers. Mint explores: Why is the FTA important? A deal will be critical for India at a time when the country has walked out of key FTAs such as the Regional Comprehensive Economic Partnership (RCEP) and begun to renegotiate others. India finds existing agreements to…
NEW DELHI: With assembly polls around the corner, Congress leader Rahul Gandhi is back in action after returning from his foreign visit. The former Congress president held several election-related meetings on Monday to review the party’s strategy in Goa. According to PTI, Goa Congress president Girish Chodankar and Legislature Party Leader Digambar Kamat have been called to Delhi to discuss the party’s possible alliances in the state. Rahul had been absent from the political scene for the last few days as he went abroad during…
Photo: @Twitter Harsh V. Pant , Kartik Bommakanti Our hypersonic Shaurya and canisterized Agni capabilities aim to preserve strategic deterrence and thus maintain stability In the final months of 2021, India conducted two major missile tests. The first was the Shaurya hypersonic weapon test, which was conducted in October. The second was the Agni-P missile test conducted on Christmas Eve. Both missile tests indicate that India is on course to fielding a more sophisticated nuclear arsenal with greater diversity of delivery systems. These developments have…
Diplomacy Kazakhstan has been witnessing large-scale violence which claimed the lives of 160 people so far. Troops are seen at the main square where hundreds of people were protesting against the government, after authorities’ decision to lift price caps on liquefied petroleum gas, in Almaty, Kazakhstan January 6, 2022. Photo: Reuters. New Delhi: India on Monday said it was closely following the developments in Kazakhstan and looked forward to early stabilisation of the situation. Arindam Bagchi, the spokesperson in the ministry of external affairs (MEA),…
Last year, the Ministry of External Affairs said that since New Delhi had not imposed any travel restrictions on Chinese nationals in India, Beijing should also reciprocate accordingly. (File) India will continue to take up with China the return of over 23,000 stranded Indian students, besides a large number of Indian workers and their families who are currently stranded back home for the last two years due to travel restrictions imposed by Beijing due to the Covid-19 pandemic, a senior diplomat has said. “For our…
The UNESCO’s World Heritage Centre (WHC) has agreed to publish Hindi descriptions of India’s UNESCO World Heritage Sites on the WHC website. The information was shared by the Permanent Delegation of India to the United Nations Educational, Scientific and Cultural Organisation (UNESCO) in Paris on Monday. “The Permanent Delegation of India is very pleased to announce that on the occasion of World Hindi Day, the Director of the World Heritage Centre has informed us that UNESCO’s World Heritage Centre has agreed to publish Hindi descriptions…
MUMBAI: Air India aircraft maintenance technicians, employees who are on fixed term contract with the national carrier, have threatened to go on strike on January 17 over long-pending issues such as employment contract renewal, salary revision and like. Among the jobs handled by aircraft maintenance technicians are aircraft fueling and readying for departure, marshaling, maintenance jobs etc. "Most of us earn minimum wage of Rs 25,000 and despite that the airline included our salaries too for cuts imposed under economic measures. Since May 2020, a…
Pakistan Prime Minister Imran Khan on Monday alleged that minorities in India were being targeted by extremist groups. (File) Pakistan Prime Minister Imran Khan on Monday alleged that minorities in India were being targeted by extremist groups and warned that such an agenda “is a real and present threat” to regional peace. Khan took to Twitter to make the allegations in the wake of alleged inflammatory and provocative speeches against Muslims at an event in Haridwar in Uttarakhand held in December. On his Twitter handle,…
NEW DELHI: The 14th round of Senior Highest Military Commander Level (SHMCL) talks between India and China will take place on January 12 at the Chushul-Moldo meeting point, on the Chinese side at 09:30 AM (IST). The Indian side is looking forward to constructive dialogue for resolving the remaining friction areas, said Indian Army officials. New Delhi and Beijing have been engaged in holding talks on the Line of Actual Control in the Eastern Ladakh area to resolve the standoff. So far, 13 rounds of…
Big picture After India’s dominance in Centurion to South Africa’s fightback in Johannesburg , this series is now set for a decider in Cape Town. It could not be more perfectly scripted, or perhaps more unexpected. Despite South Africa’s strong record against India at home, they came into this series on the back of two years of turmoil (which started when they last visited India in 2019) and there were predictions of the visitors not only winning a first series in this country but sweeping…
Sova Capital, a London-based emerging markets broker-dealer, on Monday said it has entered into an agreement with India INX to allow the latter’s clients to access the Russian market. "The partnership will create a cost-effective bridge for Indian investors to access trading on the Moscow Exchange (MOEX), Russia’s main trading venue for equities, bonds, derivatives, FX and money markets," India INX said in a statement. India INX Global Access IFSC Ltd has launched a platform through which Indian clients can trade foreign stocks. The tie-up…