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14 April 2024, 10:10
India moved fewer people to non-agri jobs than most neighbouring nations

India moved fewer people to non-agri jobs than most neighbouring nations

India has managed to move a smaller share of its working-age population away from farm-related work than many of its neighbours. Illustration: Dominic Xavier/Rediff.com Bangladesh, Bhutan, Sri Lanka and Nepal managed to shift a bigger share of jobs to non-agricultural work than India, shows data from the year 2000 to 2023 the compiled from the World Bank’s April South Asia Development Update report. Only Pakistan and the Maldives show a lower shift among South Asian peers. The share of ...
Rediff.com, 11 hour(s) ago
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'Will end year with a growth rate of over 30 per cent'

'In life insurance, it is about creating distribution capacity and solutions for customers. We are constantly working on that.' Photograph: Kind courtesy Shriram Life Shriram Life Insurance Company, a joint venture between Shriram Group and South Africa-based Sanlam Ltd, has set a target of increasing its rural penetration by 50 per cent in the next three years. Casparus J H Kromhout, managing director and chief executive officer, tells Shine Jacob/Business Standard in a video interview about ...
Rediff.com, 11 hour(s) ago
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Earnings of India's top 500 firms growing faster than US peers'

Earnings of India's top 500 firms growing faster than US peers'

Profits of India’s top listed companies have been growing at a faster pace than those of their American peers, but when it comes to revenue growth, the order has reversed recently. Illustration: Uttam Ghosh/Rediff.com The combined net profit of the S&P 500 companies was up 14.1 per cent year-on-year (Y-o-Y) during the trailing 12 months (TTM) ended December 2023, as against 17.4 per cent profit growth logged by the BSE 500 companies in the same period. This is the second consecutive ...
Rediff.com, 13 hour(s) ago
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Markets tank 1%, Sensex ends down 793 points

Markets tank 1%, Sensex ends down 793 points

Benchmark equity indices Sensex and Nifty plunged by 1 per cent on Friday as investors booked profits after a recent record-breaking rally amid weak trends from Asian markets. Photograph: Danish Siddiqui/Reuters The 30-share BSE Sensex tanked 793.25 points or 1.06 per cent to settle at 74,244.90 with 27 of its components in the red. During the day, it dropped 848.84 points or 1.13 per cent to 74,189.31.   The NSE Nifty declined 234.40 points or 1.03 per cent to close at 22,519.40 with 45 ...
Rediff.com, 1 day(s) ago
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Gold, Silver May Sparkle This Financial Year

Gold, Silver May Sparkle This Financial Year

Since the last nine years, gold investors have made money each year, while gains in silver have been consistent only in the last five years. IMAGE: A woman staffer shows gold ornaments ahead of Gudi Padwa in Mumbai. Photograph: ANI Photo It has been a profitable year for investors of gold and silver. However, both the metals, in line with their demand, have seen varying degrees of price rise. In the international market, gold price returned over 13.2 per cent and silver was marginally up ...
Rediff.com, 1 day(s) ago
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Forex kitty jumps $2.98 bn to new high of $648.562 bn

Forex kitty jumps $2.98 bn to new high of $648.562 bn

India's forex reserves jumped by $2.98 billion to a fresh peak of $648.56 billion for the week ended April 5, the RBI said on Friday. Photograph: Steve Marcus/Reuters In the previous reporting week, the forex kitty had increased by $2.951 billion to $645.583 billion, which was an all-time high. In September 2021, the country's forex kitty reached an all-time high of $642.453 billion, a level that was breached in March this year.   The reserves took a hit as the central bank deployed the ...
Rediff.com, 1 day(s) ago
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IIP grows to 4-month high of 5.7% in Feb

IIP grows to 4-month high of 5.7% in Feb

India's industrial production growth accelerated to a four-month high of 5.7 per cent in February 2024, mainly due to the good performance of the mining sector, according to official data released on Friday. Photograph: Steve Marcus/Reuters The factory output growth measured in terms of the Index of Industrial Production (IIP) was 6 per cent in February 2023. The previous high of IIP was recorded at 11.9 per cent in October 2023, which slowed to 2.5 per cent in November, 4.2 per cent in ...
Rediff.com, 1 day(s) ago
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Retail inflation eases to 5-month low of 4.85% in March

Retail inflation eases to 5-month low of 4.85% in March

Retail inflation declined to a five-month low of 4.85 per cent in March mainly due to cooling food prices, inching towards the Reserve Bank's target of 4 per cent, according to official data released on Friday. Photograph: Rupak De Chowdhuri/Reuters The Consumer Price Index (CPI) based retail inflation was 5.09 per cent in February and 5.66 per cent in March 2023. Previously, CPI-based inflation was the lowest at 4.87 per cent in October 2023. The inflation in the food basket was at 8.52 per ...
Rediff.com, 1 day(s) ago
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TCS Q4 net profit rises 9% to Rs 12,434 crore

TCS Q4 net profit rises 9% to Rs 12,434 crore

Tata Consultancy Services (TCS) on Friday reported a 9 per cent growth in net profit at Rs 12,434 crore in January-March quarter of FY24, helped by improved margin and strong performance of its India business. Photograph: Dado Ruvic/Reuters The largest software services exporter had reported a post tax profit of Rs 11,392 crore in the same period of the preceding fiscal. In the entire FY24, the company's net profit surged 9 per cent to Rs 45,908 crore, while the revenue rose to Rs 2,40,893 ...
Rediff.com, 1 day(s) ago
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Nearly one in two luxury cars sold in March quarter was Mercedes Benz

Nearly one in two luxury cars sold in March quarter was Mercedes Benz

Nearly one in two luxury cars sold in India in the first three months of 2024 was a Mercedes Benz, which achieved its best ever quarter (January-March), selling 5,412 units, up 15 per cent year-on-year (Y-o-Y) from 4,697 units in the previous year. According to industry estimates, 11,853 units were sold by luxury carmakers in the country in the first three months of 2024, registering a growth rate of 14 per cent Y-o-Y. The German luxury carmaker also clocked its best ever financial year ...
Rediff.com, 1 day(s) ago
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