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The Economic Times
The Economic Times India working to reform World Bank: Lawrence Summers
Lawrence H Summers highlights the transformative potential of AI, describing it as a self-improving technology set to dominate future economic growth. He also commends India's economic progress and its increasing global influence, pointing out the benefits of reducing excessive regulation to promote technological diffusion.
The Economic Times Each of 12 smart cities to be a dedicated industrial hub
Twelve new smart cities in India will be developed as dedicated industrial hubs focusing on sectors like electric vehicles, pharmaceuticals, and food processing. These cities, spanning across 10 states, will feature advanced infrastructure and aim to create substantial job opportunities while attracting global investments.
The Economic Times RBI MPC gets 3 new external members
The government has reconstituted the Reserve Bank's Monetary Policy Committee by appointing economists Ram Singh, Saugata Bhattacharya, and Nagesh Kumar. They replace outgoing members with terms ending this week. The revamped committee will convene on October 7-9 to review monetary policy amid global rate cuts and domestic inflation trends.
The Economic Times India has potential to be AI talent capital of the world: Rajeev Singh, SAP
The Indian mid-market businesses are prioritising the implementation of generative artificial intelligence (Gen AI) at a moderate or strong priority at 96%, ahead of the rest of the world at 91%, says Rajeev Singh, Vice President & Head of Mid-Markets, SAP Indian Subcontinent, citing a SAP survey released in September. Singh also believes there is an immense potential in the segment in terms of technology adoption.
The Economic Times Peak XV downsizes $2.85 billion fund; Paytm’s employee costs go up
Happy Wednesday! Peak XV Partners, formerly Sequoia Capital India, is cutting down the size of its 2022 fund by 16%. This and more in today’s ETtech Morning Dispatch.
The Economic Times Tata Motors to accelerate maintenance shutdown amid rising stockpiles, declining sales
Tata Motors advances its annual maintenance shutdown due to high stockpiles and slowing sales across its petrol, CNG, and electric cars. The company aims to align production with demand by reducing output by 15,000 units. September sales were the lowest in 2.5 years.
The Economic Times What India and China may do now after Fed's big decision on policy rates
As the global inflation shock wanes, lower borrowing costs are expected, with the US Federal Reserve and other major economies likely to continue rate cuts into 2025. Despite economic uncertainties, including the US election, central banks worldwide are predicted to adjust rates, focusing on growth over inflation control.
The Economic Times Away from spotlight, healthcare throws big lifeline to IT sector
India's IT companies have found a resilient growth engine in healthcare. This contrasts with the sluggish performance of financial services, retail, and hi-tech, which have faced headwinds for nearly two years.
The Economic Times Big IT expects growth momentum to continue in September quarter
India’s software service providers will report their July-September quarter results in the coming week, and analysts expect them to be better than the first quarter on the back of deal revival and an improvement in business sentiment in North America.
The Economic Times NCLT president seeks more manpower to speed up bankruptcy cases
Amid delays in case admissions under the insolvency law, NCLT President emphasised the need for more manpower. Financial institutions file voluminous documents, complicating legal interpretation. There is a need for reforms and quicker admissions to strengthen India's insolvency and bankruptcy system and support economic growth.
The Economic Times Philips appoints Charlotte Hanneman as CFO, first top female exec in 133-year history
Charlotte Hanneman, joining Philips from Stryker, will succeed Abhijit Bhattacharya, the CFO and member of Philips' Board of Management and Executive Committee since 2015.
The Economic Times Zoom names Michelle Chang as CFO
Michelle Chang joins Zoom from Microsoft, where she most recently held the role of Corporate Vice President and CFO of the Commercial Sales & Partner Organisation.
The Economic Times GST collections grow 6.5% YoY for September at Rs 1.73 Lakh Cr
GST Collections for the month of September grew 6.5% year-on-year at Rs 1.73 Lakh Crore while it witnessed a dip compared to Rs 1.74 Lakh Crore in August 2024. Maharashtra recorded the highest GST collections, registering a collection of Rs 26,369 crore, a 5% increase compared to September 2023.
The Economic Times EverEnviro appoints Shiva Kumar as CFO
With over 25 years of experience, Shiva Kumar has worked across sectors such as hospitality, real estate, IT & ITES, and manufacturing in general management, corporate finance, financial structuring, and risk management.
The Economic Times GST collections grew 9.5% YoY for September at Rs 1.73 Lakh Cr
GST Collections for the month of September grew 9.5% year-on-year at Rs 1.73 Lakh Crore while it witnessed a dip compared to Rs 1.74 Lakh Crore in August 2024. Maharashtra recorded the highest GST collections, registering a collection of Rs 26,369 crore, a 5% increase compared to September 2023.
