Trump imposes additional 25 pc tariffs on Indian imports

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Washington, Aug 6 (IANS) US President Donald Trump on Wednesday announced that he has signed an executive order imposing an additional 25 per cent tariff on imports from India, citing the country’s continued purchase of Russian oil.The White House said the decision is aimed at strengthening measures taken under earlier sanctions against Russia following its actions in Ukraine. The US President had announced a 25 per cent tariff on India last week.The order states that India is directly or indi…

Prestige Hospitality Ventures’ profit falls 18 pc, shows DRHP

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Mumbai, Aug 6 (IANS) Prestige Hospitality Ventures Limited (PHVL) has reported a 17.9 per cent drop in restated profit for the period ended December 31, 2024, as the company gears up for its initial public offering (IPO). Profit fell to Rs 67.7 crore from Rs 82.4 crore in the year-ago period (December 31, 2023), according to the draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI).The hospitality arm of the Prestige Group saw its revenue from operation…

Centre approves over Rs 304 crore for R&D in 5G and 6G technologies: Minister

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New Delhi, Aug 6 (IANS) A total of 110 projects related to 5G and 6G, amounting to Rs 304.70 crore, have been approved under the Telecom Technology Development Fund (TTDF) scheme till June 30, the Parliament was informed on Wednesday. The TTDF Scheme was launched on October 1, 2022 to fund Research and Development (R&D) and innovation in telecom technologies, fostering collaboration between academia, start-ups, MSMEs, research institutes, and industry to enhance the telecom ecosystem in Indi…

Parliament approves Carriage of Goods by Sea Bill

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New Delhi, Aug 6 (IANS) The Parliament on Wednesday passed The Carriage of Goods by Sea Bill, 2025, with the Rajya Sabha approving it by voice vote amid the ruckus created in the upper house by the opposition MPs over the Special Intensive Revision issue.The Bill has already been cleared by the Lok Sabha. With both Houses of Parliament already having approved the Bill of Lading Bill, 2025, it will now be sent to the President for her assent to be promulgated as the law.Minister of State for Port…

Union Minister launches book on cutting carbon footprint in handloom sector

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New Delhi, Aug 6 (IANS) Union Minister of Textiles Giriraj Singh on Wednesday officially launched the book titled ‘Carbon Footprint Assessment in the Indian Handloom Sector: Methods and Case Studies’, which incorporates simple steps to measure and reduce the carbon footprint in India’s handloom industry. The book has been jointly prepared by the Office of Development Commissioner for Handlooms, Ministry of Textiles and Department of Textiles & Fibre Engineering, IIT, Delhi.An official …

5G smartphone shipments capture 87 pc of overall India market in April-June

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New Delhi, Aug 6 (IANS) 5G smartphone shipments accounted for 87 per cent of the overall India market in the April-June quarter, marking a 20 per cent yearly increase, a report showed on Wednesday.Notably, 5G smartphones priced between Rs 8,000 and Rs 10,000 recorded over 600 per cent year-on-year growth, reflecting surging demand for affordable 5G access, according to the report by CyberMedia Research (CMR) India.India’s smartphone market grew 8 per cent year-on-year (YoY) in Q2 2025. The gro…

Nasscom selects 37 startups for 3rd cohort of GenAI Foundry Programme

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New Delhi, Aug 6 (IANS) IT industry’s leading body Nasscom on Wednesday said it has selected 37 innovative Generative AI startups for the third cohort of the GenAI Foundry programme.The latest cohort brings together pioneering startups from across five transformative domains, including HR and Talent-Intelligence Copilots, Finance and FinOps Copilots, Enterprise Workflow and Knowledge Copilots, Defence and Physical Autonomy, and AI Security and TrustTech.According to the firm, over the last two c…

VIP Clothing’s Q1 net profit falls over 8.2 pc to Rs 2.22 crore

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Mumbai, Aug 6 (IANS) VIP Clothing Limited on Wednesday reported a drop in net profit for the first quarter (Q1) of FY26, with earnings falling 8.26 per cent quarter-on-quarter (QoQ) to Rs 2.22 crore compared to Rs 2.42 crore in the previous quarter (Q4 FY25). This decline came despite stable revenue, as the company’s revenue from operations rose slightly by 0.83 per cent to Rs 65.44 crore from Rs 64.9 crore in Q4 FY25, according to its stock exchange filing.Total income in the quarter stood at…

PM Modi's 'Vocal for Local' appeal impress businessmen in Surat, aiming to make India third largest economy

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Surat, Aug 6 (IANS) As Prime Minister Narendra Modi urged the nation to adopt the ‘Vocal for Local’ initiative, two thousand businessmen doing business in different sectors in Gujarat’s Surat gathered on Wednesday under the ‘Progressive Alliance’, aimed at making India the world’s third-largest economy. The event comes amid US President Trump’s tariff threat. However, PM Modi has said that citizens also have certain responsibilities, and urged everyone to take a pledge for Swadeshi.He de…

7,200 complaints filed over fake goods sold by e-commerce firms in January-June

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New Delhi, Aug 6 (IANS) As many as 7, 221 grievances related to the sale of spurious, fake and duplicate products in the e-commerce sector have been registered in the 6-month period from Jan to June this year on the National Consumer Helpline, up from 4,997 such complaints registered during the entire year in 2024, the Parliament was informed on Wednesday.During FY 2024-25, the Bureau of Indian Standards (BIS) has carried out a total of 22 search and seizure operations at warehouses associated w…