New Delhi, March 17 (IANS) India’s services sector, now contributing about $2.2 trillion to gross domestic product (GDP), is expected to grow to about $6 trillion by 2035, implying a compound annual growth rate (CAGR) of about 10.6 per cent, a report said on Tuesday.The huge surge will increase services’ share of GDP to nearly 60 per cent while it currently accounts for about 55 per cent of GDP, the report from OmniScience Capital said.The report highlighted the growing dominance of India’…
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New Delhi, March 9 (IANS) A sustained rise in crude oil prices due to the US-Iran war will benefit upstream oil exploration companies, energy infrastructure companies and select refineries while pressuring oil‑sensitive sectors such as aviation, paints, tyres, chemicals and logistics, a report said on Monday.Apart from these sectors, the report from Axis Securities recommended overweight positions also in defence and infrastructure, adding that stocks in less oil-sensitive sectors such as bank…
New Delhi, March 4 (IANS) The registration of new companies jumped by 37 per cent to 24,136 in February this year compared to the same month of the previous year, reflecting the strong business sentiment and increasing formalisation of the Indian economy driven by the government’s digital push.The registrations also shot up on a sequential basis from 23,280 in January before accelerating further in February.The new registrations of companies were dominated by the services sector, particularly IT…
New Delhi, Feb 17 (IANS) Indian-American businessman and venture capitalist Vinod Khosla on Tuesday made a bold prediction that by 2050, people may not even need jobs as Artificial Intelligence (AI) continues to advance rapidly across sectors.Speaking at the India AI Impact Summit 2026 here, Khosla said the future of jobs will become much clearer in the coming decades as AI systems grow more powerful and capable.He asserted that by 2025, it will be evident that traditional employment structures …
New Delhi, Feb 16 (IANS) As Indian markets’ medium‑term risk‑reward dynamics improve, investors wanting aggressive portfolios can consider 60–65 per cent equity allocation, with conservative investors maintaining higher fixed‑income exposure and a tactical cash buffer of about 5 per cent, a report said on Monday.PL Wealth, the wealth management arm of PL Capital, said in the report, Indian equity markets are navigating a phase of consolidation but retain a robust structural trajectory, w…
New Delhi, Feb 15 (IANS) The India-UK free trade agreement is likely to come into effect from April this year, paving the way for an increase in Indian exports to the European nation, according to a senior official on Sunday. The agreement was signed between the two countries in July last year and has to be now approved by the UK Parliament for it to come into effect.The process has already started with the debate on the Free Trade Agreement (FTA) having begun in the both Houses of the British P…
Mumbai, Feb 14 (IANS) The tax holiday for foreign cloud service providers aims to “provide investment certainty, anchor high-value digital infrastructure within the country, and strengthen India’s role in global digital value chains,” the government said on Saturday.The Government has announced a tax holiday till 2047 in Budget 2026-27 for eligible foreign cloud service providers operating through India-based data centre infrastructure. Such companies’ income will be exempt from Indian t…
New Delhi, Feb 3 (IANS) The India-US trade deal should help narrow the current account deficit, stabilise the rupee, and reduce India’s vulnerability to global shocks over time, a report showed on Tuesday.The US has decided to reduce the reciprocal tariff on Indian goods to 18 per cent from the earlier 50 per cent.The trade deal is structurally positive for India’s medium-term growth and external stability. Improved market access and tariff certainty are likely to boost exports, support manu…
New Delhi, Feb 1 (IANS) Industry body Nasscom on Sunday hailed the Union Budget 2026 for its thrust on technology as a core driver of inclusive, sustainable growth.Finance Minister Nirmala Sitharaman, in her ninth consecutive Budget, presented a forward-looking and consultative Budget that reinforces the partnership between government and industry.“The Budget reflects a continued focus on ease of doing business and on strengthening India’s position as a global technology and services powerho…
Chandigarh, Jan 16 (IANS) Punjab Chief Minister Bhagwant Mann on Friday underscored the need to strengthen trade relations with Canada, particularly British Columbia, to expand cooperation that delivers tangible benefits for businesses and people on both sides. At a meeting with the Premier of British Columbia, David Eby, CM Mann said, “Canada has always been a strong partner for India and Punjab, and we deeply value this relationship. We appreciate the strong trade and investment ties between C…