Top 5 Business News in India That You Should Know Today
India’s business landscape is ever-changing, and it’s essential to stay updated on the latest happenings. From the country’s economic growth to new policies and reforms, there’s always something significant happening in the business world. Here are the top 5 business news in India that you should know today.
1. India’s GDP Growth Booms in Q1
India’s economy grew by a whopping 20.1% in the April-June quarter, marking a major comeback from the pandemic-related slowdown. This growth is mainly due to the low base effect of last year’s lockdowns but still indicates a significant improvement in the country’s economic activity. This news comes as a relief to many businesses that were struggling to stay afloat during the pandemic.
2. Indian Government Approves PLI Scheme for Automobiles and Drones
The Indian government has approved a Production Linked Incentive (PLI) scheme for the automobile and drone industries. The scheme aims to promote domestic manufacturing and exports and will provide incentives to companies that produce certain kinds of electric vehicles, drones, and related components. This move is expected to boost the country’s manufacturing capabilities and promote the use of sustainable technology.
3. Indian Retail Giant Reliance to Buy Stake in Just Dial
India’s largest retail company, Reliance Industries, has announced plans to acquire a controlling stake in Just Dial, one of the country’s leading online local search engines. The deal will give Reliance access to Just Dial’s vast user base and its unique business model that combines online and offline business directories. This acquisition is expected to help Reliance expand its digital reach and diversify its business interests.
4. RBI Governor Shaktikanta Das Optimistic About India’s Economic Recovery
Reserve Bank of India (RBI) Governor Shaktikanta Das has expressed optimism about the country’s economic recovery, citing the latest GDP growth numbers and improving economic indicators. He exuded confidence in the government’s policy measures and stressed the need for a coordinated effort by all stakeholders to ensure sustainable economic growth in the long run.
5. Zomato IPO Oversubscribed on First Day of Bidding
The much-awaited Initial Public Offering (IPO) of Indian food delivery platform Zomato has been oversubscribed on its first day of bidding. The company received bids worth 38.25 times the shares on offer, indicating overwhelming investor interest in the food-tech sector. Zomato is the first Indian unicorn (start-up valued at over $1 billion) to go public, and its IPO is expected to set the tone for several other tech and start-up IPOs in the coming months.
In conclusion, keeping abreast of the latest business news in India is crucial for professionals and investors alike. From the country’s economic growth to new policies and reforms, there’s always something significant happening in the business world. By staying informed and adapting to the changing business landscape, one can make smart investments and strategic decisions.
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