economy

The IMD issued an orange alert for Palakkad and Malappuram for May 18, Pathanamthitta, Alappuzha and Idukki for May 19 and in seven districts of the state for May 20.

The day's rally was propelled by gains in sectors such as Information Technology (IT), Realty, Financial Services (FS), and Consumer Durables. However, the performance of Public Sector Undertaking (PSU) Banks lagged, acting as a drag on the overall market sentiment.

With the Indian economy set to grow at 7.5% in 2024, according to the World Bank, the demand for both skilled and unskilled blue-collar workers, particularly in the gig economy, is expected to surge.  This trend is evident in the construction sector, which is experiencing a steady rise in gig worker employment, making it the second-largest employment generator in the country.

In response to the uproar, Blinkit's CEO, Albinder Dhindsa, promptly announced the implementation of the new feature on X platform, crediting the user's mother for the idea. In his announcement, he stated, "It’s live! Everyone please thank Ankit’s mom. We will polish the feature in the next couple of weeks."

"We must embrace compassionate capitalism," Murthy said by highlighting the limitations of both socialist and communist systems in delivering satisfactory outcomes in the past.  He stressed the need for a conducive environment where the vast majority of law-abiding entrepreneurs can thrive while advocating stringent penalties for those who violate regulations.

Analysts have attributed the pressure on the markets to persistent selling by Foreign Institutional Investors (FIIs) and elevated levels of India VIX, the volatility index. Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial, expressed his anticipation of the market consolidating within a broader range as election polling progresses and the results season approaches its conclusion.

The Department of Consumer Affairs responded to a surge in e-commerce complaints by holding a stakeholder consultation on fake reviews. With grievances on the rise, stakeholders agreed on the necessity of a quality control order to ensure genuine reviews are published, aiming to safeguard consumer trust in online shopping platforms.

India has taken steps to prevent ethylene oxide (EtO) contamination in its spice exports, following recalls of MDH and Everest spices in Singapore and Hong Kong due to EtO residues. Measures include mandatory testing of consignments to these countries, inspections of processing facilities, and sample testing by a techno-scientific committee.

The latest data released by the commerce and industry ministry on Wednesday highlighted the impact of weak global demand, particularly in Western countries, contributing to India's trade deficit reaching a four-month high.

Among the top gainers on the NSE were Coal India, Cipla, BPCL, Bharti Airtel, and Power Grid Corporation. Conversely, Tata Motors, Bajaj Auto, Asian Paints, Eicher Motors, and Britannia faced downward pressure, emerging as the major laggards.

With the U.S. and the European Union (EU) reducing imports of electric vehicles from China, there's a risk that China could resort to dumping these products in countries like India.

Saraswat, a former chief of the Defence Research & Development Organisation (DRDO), highlighted that presently, 60 per cent of India's total arms and ammunition are domestically produced. "Indian defence capabilities have experienced substantial growth in the last 10 years," he said.