MUMBAI: Payments infrastructure startup Juspay has raised $50 million in funding from new investor WestBridge Capital at a valuation of $1.2 billion, becoming the first unicorn of the year.The investment includes a mix of primary and secondary transactions, the company said in a statement on Friday. In a secondary deal, a firm’s shares change hands…
MUMBAI: Employees of public sector general insurers, RBI and Nabard will receive a collective Rs 11,640-crore payout after the Centre approved a retrospective wage, pension reset covering serving and select former staff.State-owned general insurers take the bulk: Rs 8,170 crore, followed by RBI at Rs 2,697 crore and Nabard at around Rs 773 crore, factoring…
NEW DELHI: Textile minister Giriraj Singh Friday indicated that India and EU will announce a trade deal in the next four days and urged industry to diversify so that garment exports grow. Drawing comfort from trade numbers, he said: “Many believed that Indian exports will fall due to the tariff war. Industry was worried… Despite…
NEW DELHI: India’s first final assembly line (FAL) for commercial fixed-wing aircraft could come up in either Gujarat’s Dholera or Andhra’s Bhogapuram.Adani Group’s upcoming JV (joint venture) FAL with Brazilian regional aircraft major Embraer is being aggressively wooed by both states that are implementing ambitious aerospace plans for these two places. India is looking at…
NEW DELHI: India’s commercial vehicle industry needs a stronger and well-designed vehicle scrappage policy to accelerate the replacement of old trucks, cut pollution and lower logistics costs, Ashok Leyland MD and CEO Shenu Agarwal said, as the sector sees a sharp demand rebound after GST 2.0.According to Siam, commercial vehicle sales touched a record 10.3…
BENGALURU: Mphasis CEO Nitin Rakesh said Blackstone’s stake sale reflects a natural phase in the private equity firm’s investment lifecycle and does not indicate any loss of confidence in the company’s performance. Blackstone acquired a 60.5% stake in Mphasis for $1.1 billion in 2016 and has been invested in the company for over nine years….
NEW DELHI: Shishir Kapoor, an ethnic womenswear exporter from Lucknow, asserts that he is not offering any discount to American buyers, and his business has not seen any impact due to the 50% tariffs on Indian exports. For MLK Exports, more than half its exports are to the US.“My buyers are in the upper and…
Hyderabad & Mumbai: Silver’s unprecedented surge continued Friday. In late trades on the New York Commodity Exchange (Comex) the price of the white metal crossed the psychologically important $100-per-ounce (Oz) mark for the first time in history. Gold, which has gained at a much slower pace than silver in recent months, neared the $5,000/Oz mark.In…
Taj Mahal, Agra (File photo) MUMBAI: As the Union Budget 2026 approaches, stakeholders across India’s travel, tourism and hospitality sectors are seeking policy continuity, improved financing frameworks and measures to stimulate consumer spending. While domestic travel demand has remained resilient, foreign tourist arrivals are still below earlier peak levels, prompting industry leaders to look to…
PwC India on Friday unveiled an AI framework here to unlock USD 550 billion by 2035 in five key sectors of agriculture, education, energy, healthcare and manufacturing. Launching the report, AI Edge for Viksit Bharat, at the World Economic Forum Annual Meeting here, PwC said India is positioned as a potential global benchmark for how…