Javaid Naikoo

New Delhi

Associate Producer at India Today

Journalist. Business,Policy,Investments. Views are strictly personal. Alum: @IUSTJK

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Articles

SIDBI ties up with Airbus to fund helicopter purchases

May 20, 2024 | pressinsider.com | Javaid Naikoo

Small Industries Development Bank of India (SIDBI) has tied up with Airbus Helicopters, the chopper manufacturing wing of Airbus, to fund the purchase of helicopters in India. Airbus will provide technical and helicopter industry knowledge to SIDBI, which will analyze the prospects and fund the purchase of Airbus choppers, according to the memorandum of understanding (MoU).
Reliance Retail to bring UK fashion brand ASOS to India

May 16, 2024 | pressinsider.com | Javaid Naikoo

Reliance Industries Ltd’s retail arm has partnered with ASOS to bring the UK’s leading online fashion brand to online and offline stores in India. The deal aims to redefine the fashion landscape in India and marks a significant milestone in Reliance Retail Ventures Ltd’s commitment to offering unparalleled choices and bringing world class retail experiences to Indian consumers, the Isha Ambani-led company said.
Trade gap in April widens to a four-month high

May 16, 2024 | pressinsider.com | Javaid Naikoo

India’s trade gap in goods widened to a four-month high of $19.1 billion last month on a surge in gold and oil imports, government data released this week showed. Merchandise imports during the month jumped 10% to $54.09 billion from $49.06 billion a year ago, while exports rose to $34.99 billion from $34.62 billion a year ago.
US trade curbs on China may lead to dumping of Chinese goods in India

May 14, 2024 | pressinsider.com | Javaid Naikoo

The fresh trade war between the United States and China is raising global concerns as experts warn that US policies could lead to dumping of Chinese goods in other markets, including India. The US administration on Tuesday announced a series of proposed tariff increases on imports from China including on electric vehicles (EVs), medical products, lithium ion batteries, semiconductors, solar cells, aluminum, and steel.
Retail inflation eases to 11-month low in April

May 14, 2024 | pressinsider.com | Javaid Naikoo

Retail inflation in April eased to an 11-month low of 4.83% despite a marginal rise in food prices, government data showed. “The annual inflation rate based on the all India Consumer Price Index (CPI) number is 4.83% (provisional) for the month of April, 2024 (over April 2023). Corresponding inflation rate for rural and urban areas is 5.43% and 4.11%, respectively,” the ministry of statistics and program implementation said.
India’s Kabil eyes lithium deal with Australia this fiscal

May 12, 2024 | pressinsider.com | Javaid Naikoo

India’s Khanij Bidesh India Ltd (Kabil) and the critical minerals office (CMO) of Australia may sign five business-to-business (B2B) memoranda of understanding (MoU) to extract lithium and cobalt minerals in Australia this fiscal, the Press Trust of India reported, citing mines secretary V.L. Kantha Rao.
Services sector begins new fiscal on strong note

May 5, 2024 | pressinsider.com | Javaid Naikoo

The services sector began the new fiscal year on a strong note, buoyed by robust exports and a sharp growth of new business and output that was among the fastest in 14 years, a private survey showed. The HSBC India Purchasing Managers Index (PMI) fell to 60.8 in April from 61.2 the previous month. A reading above the 50-mark denotes expansion. “India’s service activity rose at a slightly softer pace in April, backed by a further rise in new orders, with a notable strength in domestic demand.
Manufacturing activity in April slips from March’s 16-year high

May 1, 2024 | pressinsider.com | Javaid Naikoo

Manufacturing activity declined marginally in April from a 16-year peak in March amid strong demand conditions, the HSBC India Manufacturing Purchasing Managers (PMI) Index compiled by S&P Global showed. The April PMI slipped to 58.8 after hitting 59.1 in March. Despite the decline, the seasonally adjusted index was comfortably above both the neutral mark of 50.0 and its long-run average of 53.9, the survey said.
GST collections breach ₹2 trillion-mark in April

May 1, 2024 | pressinsider.com | Javaid Naikoo

Gross goods and services tax (GST) collections peaked last month at ₹2.10 trillion, or a 12.4% year-on-year growth (y-o-y), on robust expansion in domestic transactions and imports. Net GST revenue, after accounting for refunds, during April stood at ₹1.92 trillion, reflecting a 15.5% y-o-y growth. A breakup of the GST collections showed Central Goods and Services Tax (CGST) collections stood at ₹43,846 crore.
India to put 20 blocks of critical minerals on sale by June

Apr 28, 2024 | pressinsider.com | Javaid Naikoo

India will put around 20 blocks of critical minerals on sale by the end of June this year in the fourth round of auction, mines secretary VL Kantha Rao said on Monday. Speaking at the ‘future of critical minerals in India’ at the critical mineral summit held in New Delhi, Rao said that the government initiated the auction of 20 blocks of critical and strategic minerals in November 2023, followed by another tranche of 18 blocks in February 2024.