services trade, service industry, employee

An analysis of global numbers suggests that other commercial services dominate services trade globally

Chart

India climbed to the 7th position in the global ranking of service traders in 2022, largely driven by the robust export of computer services, as per World Trade Organization (WTO) data

Union Minister Piyush Goyal

Commerce and Industry Minister Piyush Goyal on Tuesday said the country's merchandise and services exports are estimated to cross USD 760 billion in the current fiscal ending March 31.
Exports grew to USD 676 billion in 2021-22 from USD 500 billion.
Speaking at the annual session of Assocham here, Goyal said that at a time when the whole world is facing recession, high inflation and elevated interest rates, India is performing well.
Goyal stressed that over the last 9 years, the focus of the Modi-government has been on building the foundation blocks which are necessary for an economy to have many years of uninterrupted and sustainable growth.
Various steps being take by the government are making India more cost competitive, be it the huge investment in infrastructure coupled with logistics, technological advancement, or the PM GatiShakti, he said.
He also said the performance of India's global trade has proved the naysayers wrong.
"I can say with great pride, happiness, and thank

Exports, global exports, supply chain

Trade in merchandise goods soared to $25 trillion, an increase of about 10 per cent versus the prior year; trade in services grew 15 per cent year-over-year to nearly $7 trillion

RCEP, trade

Indian services export growth has outperformed that of the average emerging market in recent years. If global growth continues to be sluggish, India could enlarge its share of the cake

Christine Lagarde, christine, lagarde, IMF

Among the main beneficiaries would be certainly the US and other advanced economiesbecause they are globally competitive in many service sectors, especially financial, legal, and consulting

Overseas institutions are also a better bet for Adani. Tapping Indian banks, especially state-run lenders, would be a tad cheaper, but might invite greater political scrutiny ahead of general election

Adani, Adani Group

454 members voted in favour of the Bill, while two voted against it.

Lok Sabha

As they did in June, Fed policymakers at the median still see the central bank's benchmark overnight interest rate peaking this year in the 5.50%-5.75% range

US Federal Reserve

Closing Bell on Thursday, September 21: The broad-based selling was led by public sector banks with the Nifty PSU Bank index sliding 2.3 per cent

bear market, sensex, nifty, loss, growth, investment

Tensions have been high since Canadian PM Trudeau on Monday alleged that the Indian government was behind the fatal shooting of Hardeep Singh Nijjar

visa, Canada

Six hundred indigenously-manufactured self-neutralising anti-tank mines, known as "Vibhav", have been inducted into the Army to provide mobility kill against all enemy armoured vehicles, officials said on Monday.
The anti-tank mine is made of new-age plastic, which gives it adequate strength and durability to withstand the requirements of storage, handling and operating in varying field conditions, they added.
"It (the 'Vibhav' anti-tank mine) is already in production. It has been completed. It is now in demand. It has been inducted into the Indian Army. Six hundred mines have been inducted (recently)," an official of the manufacturing company told PTI.
Designed and developed completely indigenously in a joint venture with the Defence Research and Development Organisation (DRDO) in India, "Vibhav" is a point-attack anti-tank munition, the officials said.
They said the mines are designed to provide mobility kill against all enemy armoured vehicles.
"Made from new age plastic, the m

tank, DRDO, Ministry of Defence

Though Disney Star has seen declining subscriber numbers after losing the IPL streaming rights, it hasn't ceded the entire cricket business, securing the television rights through 2027

Disney, Walt Disney

During a mahapanchayat, the Vaishya community of Rajasthan demanded adequate representation and increasing EWS quota to 15%

BJP, RSS, Jana Sangh, Indian politics

The RBI said it purchased $5.32 billion and sold $1.84 billion in July. In June, the central bank had bought a net of $4.50 billion in the spot market

RBI, SHAKTIKANTA DAS, RESERVE BANK OF INDIA

PM Modi in his opening speech during the special session of Parliament on Monday expressed gratitude for the acknowledgement of the success of G20 by the Chair

PM Modi, Narendra Modi

The government introduced the Women's Reservation Bill in the Parliament almost three decades after it was first drafted

Parliament

Former RBI Governor Bimal Jalan said it is better if the person's expertise is considered than whether he/she is a bureaucrat or a private sector executive

TRAI

The fiscal burden of states will increase over time

pensions, funds, retirement, investments, investors, savings

Canada said it was expelling a top Indian diplomat Monday as it investigates what Prime Minister Justin Trudeau called credible allegations that India's government may have had links to the assassination in Canada of a Sikh activist.
Trudeau said in Parliament that Canadian intelligence agencies have been looking into the allegations after Sikh leader Hardeep Singh Nijjar, a strong supporter of an independent Sikh homeland known as Khalistan, was gunned down on June 18 outside a Sikh cultural centre in Surrey, British Columbia.
Trudeau told Parliament that he brought up the slaying with Indian Prime Minister Narendra Modi at the G-20 last week, that he told Modi that any Indian government involvement would be unacceptable and that he asked for cooperation in the investigation.
Canadian Foreign Minister Mlanie Joly said the head of Indian intelligence in Canada has been expelled as a consequence. "If proven true this would be a great violation of our sovereignty and of the most basic

Hardeep Singh Nijjar

MEA's statement comes after Canada expelled an Indian diplomat on Monday as it investigates credible allegations that India's government may have had links to the assassination in Canada

Canadian Prime Minister Justin Trudeau arrives for his daily press conference on COVID-19, in front of his residence at Rideau Cottage in Ottawa. Photo: PTI

Justin Trudeau

Amazon Web Services (AWS) India on Thursday announced that edtech social enterprise ConveGenius has built a conversational artificial intelligence (AI) chatbot on its platform for government schools and low-free private schools.
The conversational AI chatbot platform -- SwiftChat -- aims to improve learning outcomes for school students using more than 53 conversational AI chatbots that deliver personalised learning content in 13 regional languages to over 100 million students across India.
ConveGenius has built SwiftChat Conversational AI Platform on AWS, a release said.
"Using the SwiftChat platform, which holds 124 million student profiles across 19 million devices, government schools can create omnichannel chatbots to deliver personalised learning, like curated videos and read-along content, through a single AI-enabled chatbot conversation," it said.
Besides the personalised learning, SwiftChat offers teacher training and data-driven decision-making for school administrators, ..

Artificial intelligence, jobs, AI, ChatGPT, technology

The new centre is also projected to increase the company's margin by around Rs 50 crore in the near term, according to Black Box

IT sector, IT companies, Deals

In a "significant" move, aviation watchdog DGCA on Thursday said regulations for watch duty time limitations and rest requirements for air traffic controllers have been implemented at 57 airports, including Amritsar, Coimbatore, Patna and Imphal.
The implementation of the norms will ensure that air traffic controllers will get adequate rest while carrying out their duties.
The regulations regarding 'Watch Duty Time Limitation (WDTL) and rest requirements for Air Traffic Controllers (ATCOs)' are being implemented at the 57 airports from Thursday, DGCA said in a release.
According to the Directorate General of Civil Aviation (DGCA), the norms are modelled on ICAO regulations and based on the country's national, social and cultural contexts, coupled with scientifically valid, optimal duty time limit for ATCOs.
ICAO is the International Civil Aviation Organisation.
"This is a significant reform in the civil aviation sector and will provide adequate rest to ATCOs while engaging in the 

AAI, airports, flights, aviation, airlines

ITC Hotels on Thursday announced that it has signed a management agreement with a construction company for Welcomhotel Kalimpong resort in West Bengal.
The 70-key greenfield project will spread over four acres of land and will offer plush rooms with views of the Himalayas and the valley, a company statement said.
The company announced the signing of Welcomhotel Kalimpong resort under a management agreement with Pravez Constructions Private Ltd.
"With the upcoming property of Welcomhotel Kalimpong, the group will have a strong presence across West Bengal with eight hotels across various segments," ITC Hotels Divisional Chief Executive Anil Chadha said.
He also said the 'Welcomhotel' brand trajectory is "growing fast across both business and leisure locations".
The upcoming facility in north Bengal will have an all-day dining restaurant, a lounge and a bar among other facilities.
The group portfolio currently showcases 25 Welcomhotels across India with more in the pipeline, the com

Welcomhotel opens its first property in Himachal Pradesh, at Shimla

Welcomhotel, Himachal Pradesh, ITC Hotel

US aerospace major Boeing on Thursday outlined its plan for enhancing engineering, manufacturing, and sustainment capabilities of the P-8I long-range maritime surveillance and anti-submarine warfare aircraft in India, eyeing an additional order of six planes.
At present, the Indian Navy has 12 P-8I aircraft.
The company said it had already generated a substantial economic impact, amounting to USD 1.7 billion to support the current P-8I aircraft fleet in service with the Indian Navy.
Boeing said it envisions that increasing the P-8I fleet to 18 aircraft will increase investments, approximately USD 1.5 billion, while creating further indigenisation opportunities within India's aerospace and defence sector by 2032.
"Boeing's commitment to advancing the Aatmanirbhar Bharat vision drives our dedication to the P-8I fleet," said Salil Gupte, president of Boeing India.
"As we respond to the Indian Navy's need for more P-8I aircraft, we are actively looking to enhance engineering, ...

Heatmap

Service trade

Statsguru: Six charts explain expansion in India's services trade

India's services trade surplus drops to three-quarter low in first quarter

Goods, services exports to cross $760 bn in FY23:, says Piyush Goyal

Global trade surges to record $32 trillion in 2022, says UN report

Aiming for more of the global pie

Services trade can unlock full potential of mini multinationals: Lagarde