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The Economic Times Tech gig economy grows, India to have 23.5 million workers by 2030

India's gig workforce is projected to reach 23.5 million by 2030, driven by the demand for remote work. The growth, as per a Nasscom Aon report, highlights the increasing importance of gig workers in bridging tech talent gaps.

The Economic Times 1st Modi 3.0 Budget to eye job creation by expanding PLI scheme, MSME focus

Steps to boost jobs by expanding the Production Linked Incentive scheme to furniture, toys, footwear and more segments of textiles, along with a focus on MSMEs, while increasing income levels of women and boosting infrastructure, are expected to be among the key thrust areas of the Modi govt's first Budget in its third term with several of the issues also being part of govt's 100-day agenda that will feed into the targets for 2030.

The Economic Times SOPs for faster sanction of loans, insurance in works

The Centre is collaborating with financial institutions to create a common application form and SOPs for faster sanction of financial services like loan disbursals and insurance under key schemes.

The Economic Times RBI's special audit over, IIFL Finance appoints team to implement corrective actions

IIFL Finance, under scrutiny by the RBI for irregularities in its gold loan portfolio, has taken corrective actions to address concerns. RBI directed the company to halt new gold loans due to supervisory concerns and deviations in gold assessment. The company raised capital through rights issues and NCDs to mitigate risks and reported a net profit in Q4.

The Economic Times Must evolve to eased, 3-tier GST rate format: CII Prez Sanjiv Puri

India needs to transition towards a three-tier rate structure in goods and services tax over time, according to Confederation of Indian Industry president Sanjiv Puri. Puri suggests creating a GST Council-like structure for pushing reforms, some of which are in states' domain. India's economy is doing well in a stressed global environment due to policy instruments deployed by the government over the past years.

The Economic Times Central Park plans to list real estate business in two-three years

The company has a launch pipeline of around ₹10,000 crore for FY25 and is in the process to appoint an audit firm. It is targeting ₹4,000 crore sales in FY25 and is likely to reach ₹10,000 crore sales by the time of listing.

The Economic Times Indian corporates are likely to go slow on overseas dollar loans: BofA

Indian corporates are likely to reduce overseas dollar loans due to expensive current rates. There is a 'huge pent-up demand' for investing in local firms' equity. Borrowing costs in the US have increased sharply, leading to a preference for IPOs and follow-ons in India.

The Economic Times Zomato confirms discussions to acquire Paytm’s movies, ticketing business

Zomato confirmed in a stock exchange filing that it is in talks to acquire fintech Paytm's ticketing business, as reported by ET on June 16. The company added that "no binding decision" has been taken about the deal at this point. The deal could value the Paytm vertical at around Rs 1,600-1,750 crore.

The Economic Times Family Inc cheques into Oyo's Rs 1,000 crore fundraise

Hospitality startup Oyo is raising around Rs 1,000 crore from family offices and investors. The fundraise aims to value Oyo at about $2.5 billion, marking a significant decrease from its peak valuation of $9 billion in 2021.

The Economic Times Balancing Act: With greater capex comes lower dividend

The dividend payout ratio is the proportion of a company's earnings paid to shareholders as dividends. This payout tends to be lower in times when companies spend more on expansion. Companies with a high cash flow in mature industries tend to have higher dividend payout ratios.

The Economic Times Informal manufacturing and services gained during FY23, trade share declined: Govt data

The gross value added of unincorporated manufacturing companies increased by 19.14% to ₹3.6 lakh crore in 2022-23 (October-September) compared with ₹2.77 lakh crore in 2021-22 (April-March), data released by the Ministry of Statistics and Programme Implementation showed.

The Economic Times Nykaa grants 4.73 lakh shares under Esop scheme

FSN E-Commerce Ventures, operating Nykaa, allotted 4,73,138 equity shares under Esop scheme. Shares valued at Rs 8.08 crore. Managing director Falguni Nayar foresees $90-billion market growth.

The Economic Times At G7 Outreach session, PM Modi calls for ending monopoly in technology

Prime Minister Narendra Modi, addressing the G7 summit in Italy's Apulia region, called for ending technological monopolies and fostering creative technology to build an inclusive society. Highlighting the global impact on the Global South, Modi emphasized India's responsibility to voice their concerns, prioritizing Africa's development. He stressed the significance of artificial intelligence, citing India's AI Mission and national strategy. Modi advocated for international governance in AI and outlined India's energy principles of availability, accessibility, affordability, and acceptability, reaffirming the country's commitment to achieving Net Zero by 2070.

The Economic Times Third-party firms Delhivery, Xpressbees look to sort out logistics of quick commerce race

Third-party logistics firms like Delhivery and Xpressbees are venturing into the quick-commerce sector to support platforms such as Swiggy Instamart, Blinkit, and Zepto as demand surges. Sensing opportunity in the q-commerce space, Delhivery has started to work with Swiggy Instamart’s larger warehouses which supply to small dark stores, or fulfilment centers. Meanwhile, Xpressbees is talking to multiple players for the same.

The Economic Times Why Modi is at the G7 Summit, and why G7 needs him

The Western world wants India by its side. Given the increasing economic heft of the country, India cannot be outside the major policy issues confronting the West. It will be India's 11th participation in the G7 Summit and PM Modi's fifth consecutive participation at the G7 Summit.