Indian Economy

Private Equity and Venture Capital (PE-VC) firms invested $2,614 million across 65 deals in Tamil Nadu-based companies in 2022. Of this 45 firms are headquartered in She state while the remaining 20 now have their base overseas but were headquartered here at some point and also have a substantial part …

The output growth of India’s eight core sectors rebounded to 5.4% in November from a revised estimate of a 0.9% uptick in October, the slowest in 20 months. This was despite the fact that overall production levels in November 2022 remained the same as in the previous month. The recovery …

December 2021 and December 2022 could not have been more contrasting for India’s pharmaceutical industry. Last year, it was hailed for developing vaccines that inoculated billions against the coronavirus and underlined its moniker as the ‘pharmacy of the world’. This year, two Indian drug-manufacturing firms stand accused by two countries …

In December 2022, Finance Minister Nirmala Sitharaman told Parliament that banks had written off bad loans worth ₹10,09,511 crore during the last five financial years. A National Asset Reconstruction Company Ltd. (NARCL) was announced in the Union Budget for 2021-2022 to resolve stressed loans amounting to about ₹2 lakh crore …

India’s unemployment rate rose to 8.3% in December, the highest in 16 months, from 8% in the previous month, data from the Centre for Monitoring Indian Economy (CMIE) showed on Sunday. The urban unemployment rate rose to 10.09% in December from 8.96% in the previous month, while the rural unemployment …

India’s current account balance recorded a deficit of $36.4 billion (or a nine-year high of 4.4% of GDP) in the quarter ended September, rising from $18.2 billion (2.2%) in the previous quarter. Deficit for the year-earlier period came in at $9.7 billion (1.3%), according to data released by the Reserve …

Despite the Centre’s high-octane push for manufacturing through the ‘Make in India’ initiative, foreign investors continue to chase bets in the services sector, India Ratings and Research said on Wednesday. It also said a bulk of the foreign direct investment (FDI) in manufacturing was not greenfield or fresh investments. “Despite …

India’s goods exports rebounded from a nearly 17% dip in October to a mild 0.6% uptick in November. While the value of exports recovered to $32 billion from $29.8 billion in October, it is still significantly below the $39 billion averaged between April and September. Imports growth moderated to 5.4% …

The Government has decided not to extend the Pradhan Mantri Garib Kalyan Ann Yojana, (PMGKY), a scheme that ran between April 2020 to December 2022 (except for a short period in between), and provided additional allocation of foodgrains, i.e., rice or wheat from the central pool at five kilograms a …

The Union Ministry of Health has issued a communique to States to resume genome sequencing of new cases of COVID-19, in view of the sudden spurt of cases in some parts of the world. In a letter, Union Health Secretary Rajesh Bhushan said sequencing of positive case samples will allow …