Author: NFAPost News Service

The infrastructure sector emerged as the leader, attracting $11.6 billion in investments in 2023, while traditional favorites such as financial services and technology witnessed a decline New Delhi, NFAPost: Private equity and venture capital (PE/VC) exits in India surged 36% year-on-year (Y-o-Y) to touch $24.8 billion in 2023, up from $18.3 billion in the previous year, according to a report by EY-IVCA. Open market exits, comprising 52 % of the total exits, reached a record high of $12.8 billion, while buoyant capital markets enabled the second-best year for PE-backed initial public offerings (IPOs). Public listings stood at 30 in 2023,…

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Since the quarterly samples are drawn independently, estimates of labour force indicators for a calendar year have been obtained by combining the data from the four quarters of the calendar year New Delhi, NFAPost: India’s unemployment rate dropped to 3.1 per cent in 2023 from 3.6 per cent in the preceding year, reflecting continued improvement in the labour markets, revealed the latest employment-unemployment indicators report released by the National Statistical Office (NSO). During the calendar year 2023 (CY23), the unemployment rate in both rural and urban areas declined to 2.4% and 5.2%, respectively, from 2.8 % and 5.9 % in…

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For the week ending February 23, the foreign currency assets, a major component of the reserves, increased by $2.405 billion to $548.188 billion. Mumbai, NFAPost: India’s forex reserves jumped by $2.975 billion to $619.072 billion for the week ended February 23, the Reserve Bank said. In the previous reporting week, the overall reserves had dropped by $1.132 billion to $616.097 billion. For the week ending February 23, the foreign currency assets, a major component of the reserves, increased by $2.405 billion to $548.188 billion. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of…

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The average monthly gross collection for the current fiscal stood at Rs 1.67 lakh crore, exceeding Rs 1.5 lakh crore in the last fiscal New Delhi, NFAPost: The GST collection in February grew 12.5% to over Rs 1.68 trillion, buoyed by domestic transactions, the finance ministry said. The total gross GST collection for the current fiscal (April 2023-February 2024) stands at Rs 18.40 trillion, 11.7% higher than the mopup for the same period last fiscal. The average monthly gross collection for the current fiscal stood at Rs 1.67 trillion, exceeding Rs 1.5 trillion in the last fiscal. “Gross Goods and…

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Indian startups have for years been protesting against many of the US giant’s practices, including its in-app fee charges New Delhi, NFAPost: Google began removing the apps of 10 companies in India on Friday, including some popular matrimony apps such as Bharat Matrimony and job search app Naukri, in a dispute over service fee payments in one of the company’s fastest-growing markets. Indian startups have for years been protesting against many of the U.S. giant’s practices, including its in-app fee charges. Google says its fees help develop and promote the Android and Play Store app ecosystem. On Friday, India’s Matrimony.com…

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In December last year, the company became the first EV 2W manufacturer to record 30,000 registrations in a month Bengaluru, NFAPost: IPO-bound Ola Electric clocked the highest monthly registration of over 35,000 units in February, as the company comfortably maintained its pole position in the EV (electric vehicle) two-wheeler segment, cornering a market share of 42%. The SoftBank-backed company reported its highest-ever monthly registrations during the month and posted a year-on-year (Y-o-Y) growth of nearly 100 per cent compared to the same month last year. Ola Electric has recorded close to 1,00,000 registrations in the last three months, with more…

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Bengaluru, NFAPost: The Bangalore Chamber of Industry and Commerce (BCIC) has expanded its global presence to promote international trade and commerce by signing three Memorandums of Understanding (MoUs) at the 54th Annual WTCA Global Business Forum (GBF) currently underway in Bengaluru. BCIC with World Trade Center Bengaluru, signed MoU’s with World Trade Center Twente, Netherlands, World Trade Center Riyadh and World Trade Center Mumbai. The Mou’s are aimed at fostering economic development and international business collaborations and promote commercial and business links between regions. The MoU will also facilitate the opening of BCIC offices at WTC Twente, Netherlands and WTC…

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Chennai, NFAPost: Screen additions, higher moviegoer footfalls and increased consumer spending will drive up multiplex revenue 10-15% to Rs 7,300 crore in fiscal 2025. That compares with 20-24% growth this fiscal following a slew of big-budget releases, especially Hindi films that attracted droves to cinema halls. Rising revenue is also helping improve the operating margin of multiplex operators, which is already up 400 basis points (bps) this year and set for another 100 bps to ~15% next fiscal. But that number will still be lower than the pre-pandemic level of 18-20% given the competition from over-the-top (OTT) content. Operating cash…

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Mumbai, NFAPost: 86% of internet users in India, i.e. 707 million people, enjoy OTT audio and video services, making it the top use-case for internet in the country. These numbers were revealed by the ‘Internet in India Report 2023’, jointly prepared by the Internet and Mobile Association of India (IAMAI) and KANTAR, the world’s leading marketing data and analytics company. The report was released by IAMAI Chairman and CEO and Cofounder Dream Sports Harsh Jain at the inaugural session of the India Digital Summit 2024, being organised at the Jio World Convention Centre. “‘Internet in India’, which is based on…

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New Delhi, NFAPost: With the M3 CPU, Apple debuted new MacBook Air laptops that are 60% faster than their predecessors. 13-inch and 15-inch variants are priced at Rs 1,14,900 and Rs 1,34,900, respectively. Up to 18 hours of battery life on a single charge and support for up to two external screens are features of the M3 processor. With 50% recycled components, the laptops prioritize environmental sustainability as well. Apple Senior Vice President of Worldwide Marketing Greg Joswiak said MacBook Air is the most popular and loved Mac, with more customers choosing it over any other laptop. “And today it…

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