Author: Staff Reporter
As per Worldline’s India Digital Payments Report, the country’s Unified Payments Interface (UPI) recorded a 52% year-on-year (YoY) increase in transaction volumes, reaching 78.97 billion transactions in the first six months of 2024. UPI continues to dominate India’s payment landscape, with transaction volumes climbing from 8.03 billion in January 2023 to 13.9 billion by June 2024. The overall transaction value also experienced significant growth, rising from US$ 154.60 billion (Rs. 12.98 trillion) to US$ 239.04 billion (Rs. 20.07 trillion) over the same period. Comparing the first half of 2024 with 2023, the total transaction value grew by 40%, from US$…
A new study just released has shed light on how stress can exacerbate colorectal cancer (CRC), adding to the body of evidence showing the profound impact stress can have on health. Researchers from China have demonstrated that chronic stress disrupts the balance of gut microbiota, a factor that accelerates the progression of CRC. A team from West China Hospital, Sichuan University, conducted the study, which reveals that chronic stress, in combination with specific gut bacteria, significantly worsens CRC. By eliminating certain gut bacteria and inducing stress, the researchers identified a bacterial species that could serve as a potential therapeutic target…
The fifth edition of the ‘World Trade Expo,’ set to take place in Mumbai from October 17-18, will showcase India’s untapped export potential of $117 billion. The event aims to explore new opportunities in key sectors such as textiles, pharmaceuticals, chemicals, automobiles and components, and machinery, with an emphasis on boosting trade between India and the participating countries. The United States presents the largest untapped export opportunity for India, valued at $46 billion. Key sectors identified for this growth include gems and jewelry, pharmaceuticals, automobiles and components, and machinery, showcasing the vast possibilities for expanding trade with the US.…
Noel Naval Tata is an influential Indian businessman and a key figure within the Tata Group, one of India’s largest and most respected conglomerates. Noel Tata, born in 1957, is the half-brother of Ratan Tata, the former chairman of Tata Sons. Over the years, he has held significant leadership roles in various Tata companies, playing a pivotal role in driving the group’s growth and success. Noel Tata is the son of Naval Tata, a prominent figure in the Tata family, and Simone Tata, the former chairperson of Lakmé, a renowned beauty and cosmetics brand in India. He received his education…
Prime Minister Narendra Modi on Friday presented a variety of beautiful gifts, including Buddha sculptures, handcrafted artifacts, and other exquisite items, to his Laos counterpart, the country’s President, and their spouses. Following a bilateral meeting, the two leaders exchanged these meaningful gifts, emphasizing their resolve to strengthen their civilizational and modern-day ties. Among the gifts, PM Modi presented Laos President Thongloun Sisoulith with a vintage brass Buddha statue adorned with mina work. This carefully crafted piece is a fine example of South Indian craftsmanship, reflecting Buddhist philosophy in its design. The piece depicts the Buddha in a seated position, with…
India’s foreign exchange (Forex) reserves have remained above $700 billion for the second consecutive week, according to data released by the Reserve Bank of India (RBI) on Friday. The Forex reserves stood at $701.18 billion as of October 4, reflecting a decrease of $3.71 billion from the previous week, as per the RBI’s weekly bulletin. Despite the slight drop, the country’s Forex reserves of over $700 billion mark a significant milestone, representing an all-time high and positioning India as the fourth-largest holder of Forex reserves globally. This sustained high level of reserves highlights the country’s economic resilience and stability.…
Prime Minister Narendra Modi’s Chair, the Cabinet Committee on Security (CCS), has reportedly approved Phase III of the Space-Based Surveillance (SBS) mission, a development that bodes well for India’s security capabilities. This decision sets the stage for the launch of 52 surveillance satellites into low Earth and geostationary orbits. The Modi government’s decision is likely to cause concern among adversaries like China and Pakistan, as these neighboring countries will be under continuous surveillance once the capabilities become fully operational. With this enhanced capability, India will be able to detect enemy submarines operating in the Indo-Pacific region, according to sources familiar…
The Indian economy continues to expand at a robust pace despite difficult global circumstances, according to the World Bank’s latest India Development Update: India’s Trade Opportunities in a Changing Global Context. However, in order to achieve its ambitious goal of $1 trillion in merchandise exports by 2030, India must diversify its export basket and integrate more deeply into global value chains. The India Development Update (IDU) notes that India has maintained its position as the fastest-growing major economy, with an impressive growth rate of 8.2% in FY 2023-24. Significant public investment in infrastructure and an increase in household real estate…
