4 years on, PM Narendra Modi says demonetisation demolished corruption
By Administrator_ India Capital Sands On the fourth anniversary of note ban, Prime Minister Narendra Modi on Sunday said it helped reduce black money, increase tax compliance and formalisation, and gave a boost to transparency. On November 8, 2016, Modi announced the decision to ban all currency notes of denomination of 500 and 1,000 from midnight. Taking […]
4 reasons why onion prices surged sharply across India
By Administrator_ India Capital Sands For the second consecutive year, onion prices have begun to surge at retail outlets across the country. In cities such as Mumbai and Pune, retail prices have zoomed to Rs 100 a kg. According to the Ministry of Consumer Affairs, the average retail price of onion in the country was […]
Slow pace of pay growth adds to hurdles in way of India’s economic recovery
By Administrator_India Capital Sands Joblessness may be easing in India as the economy gradually reopens from the world’s biggest lockdown, but wage growth remains subdued — dashing hopes of a recovery in the consumption-driven economy. Wage bills of companies increased by just 2.9 per cent in the three months to June from a year […]
India’s gloomy outlook darkens, recovery path in doubt
By Administrator_India Capital Sands The outlook for India’s reeling economy has worsened again as business activity slows and COVID-19 infections soar, and will probably prompt the Reserve Bank of India to cut interest rates again soon. The latest findings echo recent criticism of New Delhi’s $266 billion economic rescue package, which does not include […]
Sensex, Nifty rise on boost from Reliance
By Administrator_India Capital Sands Indian shares rose on Friday and were on course to finish the week higher, boosted by a jump in Reliance shares after the oil-to-telecoms conglomerate said it had become net-debt free. The NSE Nifty 50 index rose 0.58% to 10,146.75, while the benchmark S&P BSE Sensex was up 0.51% at […]
Reliance’s $7 Billion Rights Rings in New Trading Venue in India
By Administrator_India Capital Sands Reliance Industries Ltd., which popularized equities as an investment in the world’s second-most populous nation, is now the first to test a trading avenue in India with its record $7 billion rights issue. Introduced in January, the trading platform allows shareholders to sell their rights entitlement to others interested in subscribing […]
India suspends 39 import licenses for refined palm oil
By Ritu, Capital Sands India has suspended 39 licences to import 452,303 tonnes of refined palm oil after a surge in duty-free purchases from neighbors such as Nepal and Bangladesh which are not key producers, government and trade sources. The suspension could reduce India’s palm oil imports in the next few months and pressure Malaysian […]
Indian start-ups get creative as coronavirus crisis fuels funding crunch
By Ritu, Capital Sands Samik Sarkar was managing to eke a profit out of his online apparel store before the coronavirus crisis hit India, forcing the 36-year old to reinvent his business overnight. The rapid global economic slowdown, India’s coronavirus lockdown of 1.3 billion people and an exodus of venture capital are testing a start-up […]
India extends world’s biggest lockdown as coronavirus cases cross 10,000
By Administrator_India Capital Sands India extended on Tuesday a nationwide lockdown for its 1.3 billion people until May 3 as its prime minister warned of economic sacrifices to save lives as the number of coronavirus cases crossed 10,000. Sharp downward revisions to economic growth forecasts in the wake of the pandemic point toward sickening levels […]