Author: Shradhanjali Mukherjee

On Friday, Defence Minister Rajnath Singh highlighted significant improvements in the Indian economy, noting its transformation from being one of the ‘Fragile Five’ to joining the ranks of the ‘Fabulous Five’ since 2014. Addressing the ‘Manorama News Conclave 2024’ in Thiruvananthapuram, Singh praised the Indian economy as one of the fastest-growing large economies globally. He emphasized the strides made in enhancing the ease of doing business, mentioning that the government has drastically reduced the time needed for environmental clearance from 600 days to under 75 days. Additionally, Singh pointed out that over 40,000 regulatory compliances have been either eliminated or…

Jio Platforms (JPL), the parent company of Jio and other digital ventures under the Reliance umbrella, has distinguished itself as one of India’s top 12 companies. In its first quarter of FY25, JPL reported a substantial 11.7% year-over-year increase in net profit, reaching $684.7 million (Rs. 5,698 crore), thanks to robust subscriber growth. At the announcement, Jio Platforms CEO, Mr. Ambani, revealed that the telecom giant has completed its nationwide 5G rollout, signaling a forthcoming decline in related capital expenditures. The company now boasts over 130 million 5G users, with its network encompassing more than 85% of the country’s 5G…

India is poised to become a hub of industrial innovation with the recent landmark decision by the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi. On Wednesday, the committee approved 12 new projects under the National Industrial Corridor Development Programme (NICDP), with an impressive estimated investment of USD 34.3 billion. This initiative is set to revolutionise India’s industrial landscape by creating a network of advanced industrial nodes and cities, significantly enhancing economic growth and global competitiveness. The new industrial nodes will span across 10 states and be strategically situated along six major corridors. These locations include Khurpia…

The U.S. Chamber of Commerce’s U.S.-India Business Council (USIBC) recently announced that InMobi will take on a leading role as a co-chair of their newly established AI Task Force. This partnership underscores USIBC’s commitment to promoting cutting-edge AI principles and fostering collaborative innovation between the United States and India. Jacob Gullish, the USIBC Executive Director for the Digital Economy, expressed excitement about InMobi’s involvement, highlighting the company’s impressive history in AI-driven solutions. He noted that InMobi is well-positioned to spearhead initiatives aimed at strengthening U.S.-India collaboration in AI research and development. USIBC leaders emphasized the significance of InMobi’s appointment, acknowledging…

Kriti Sanon, known for her openness about both her personal and professional life, recently discussed her background and career on Nikhil Kamath’s YouTube podcast, WTF. Reflecting on her middle-class upbringing, Kriti shared that her current ability to choose projects stems not from financial necessity but from a place of privilege. She emphasized that despite coming from a middle-class family, she never felt financial pressure to work, as her parents were financially stable and made sure she never felt a lack of resources. During the interview, Kamath humorously noted that mentioning a middle-class background often leads to trolling. Kriti responded by…

India’s organized gold loan market is expected to double in the next five years, reaching approximately $169.07 billion, with a compound annual growth rate (CAGR) of 14.85%, according to PwC India’s report, *Striking Gold: The Rise of India’s Gold Loan Market*. In fiscal 2023-24, the market saw substantial growth, valued at $84.59 billion. Indian households hold around 25,000 tonnes of gold, worth about $1.50 trillion. Despite this growth, the sector might experience slowed expansion due to stricter regulations on loan-to-value (LTV) ratios and auction processes, along with the absence of the second-largest market player in FY25. The Reserve Bank of…

Inspired by the historic moment of having a fellow community member as the Democratic presidential candidate, a vibrant group of Indian-Americans has launched a dynamic new website, DesiPresident.com, with the engaging tagline “Kamala Ke Saath.” Kamala Harris, 59, brings a unique blend of heritage—her mother’s roots trace back to Chennai, while her father’s origins are in Jamaica. The site captures the collective enthusiasm and hope as they gear up for a pivotal journey, urging everyone to join in and make a difference. In conjunction with the website, the Desi President initiative, backed by the Indian American Impact Fund, has released…

Bangladesh’s interim government has taken the significant step of revoking all diplomatic passports that were issued to Members of Parliament during the term of former Prime Minister Sheikh Hasina. This action, which also includes the cancellation of Hasina’s own diplomatic passport, is part of a broader effort by the interim administration to realign the country’s diplomatic and political stance as general elections approach. The diplomatic passports, which once allowed MPs to travel visa-free to certain countries, were granted under Hasina’s administration. The revocation reflects the interim government’s push to reshape Bangladesh’s political landscape in preparation for the upcoming elections. Sheikh…

The National Payments Corporation of India (NPCI) has rolled out an innovative feature named ‘UPI Circle’ on its Unified Payments Interface (UPI) platform. This feature allows primary UPI account holders to securely delegate payment responsibilities to trusted secondary users while retaining overall control. The aim of UPI Circle is to streamline digital transactions by offering enhanced convenience and security, particularly for managing payments for dependents, such as when parents pay for their children or elderly individuals delegate payments to family members. With the UPI Circle feature, primary users can establish transaction limits for secondary users, striking a balance between accessibility…

Indiaspora, a US-based non-profit organization dedicated to highlighting the contributions of Indian Americans and their influence on the United States, has published a new report titled *”Small Community, Big Contributions, Boundless Horizons: The Indian Diaspora in the United States.”* The report draws on data from the Migration Policy Institute and provides a detailed look at the impact of the Indian diaspora in the US, which consists of 5.1 million Indian Americans, including both those born in India and those born in the US. Despite making up only 1.5% of the total US population, their contributions are significant. According to the…