Private Equity investment in India continued to see year-on-year decline for the third consecutive quarter, as they fell nearly 50% to $1.89 billion in the quarter ended March 2012. However, the number was higher than the $1.47 billion recorded in the December quarter. “There were six reported PE investments worth over $100 million during the […]
LG beat Samsung and others in computer monitor sales in India even as overall sales fell 59% in the last quarter of 2011, new numbers from CyberMedia Research revealed. LG had a market share of 27% in the overall LCD and LED monitor market in India during the quarter, the numbers said. The quarter was […]
India PC shipments will rise 17 percent this year, after a 6.5% fall in numbers in the last quarter of 2011, Gartner said. The prediction is despite a recent increase in excise duty on computers and the overall slowing down of economic growth in India. The news is likely to be welcomed by the PC […]
The number of air travelers in India grew 16.6% last year, but growth has slipped in 2012, ministry of civil aviation numbers revealed. For the first two months of 2012, passenger numbers rose only by 9.3%. The number of flights increased by 11.2% in the first two months of this year, compared with a 19.7% […]
The latest survey by Centre for Science and Environment has found that junk foods have enough trans fats, salt and sugar to lead us to an early onset of diseases in the young. Neither the companies, nor the government is bothering to tell us what these foods contain, says a new Centre for Science and […]
Global rating agency Standard & Poor’s has raised its rating and estimates on India’s number 4 IT services firm, Wipro. The better rating and estimates reflect an improvement in Wipro’s performance since a new management team under the leadership of TK Kurien took over in early 2011. S&P now expects Wipro’s revenue in the last […]
Hero MotoCorp (HMCL) reported a 2.4% increase in its motorcycle shipments in March, well below the growth seen in the full year. Hero, which split from its joint venture partner Honda last year, sold 5.28 lakh vehicles in March, up from 5.16 lakh in March 2011. In comparison, Honda Motorcycle & Scooter India (HMSI) saw […]
Former railway minister Dinesh Trivedi seems set on his way to becoming a new middle class hero. The minister, who was unceremoniously ejected from the Union Cabinet as a result of a political and ego tussle between the Congress party and its ally Mamata Banerjee, will deliver a lecture on “Country, Before Party and Self” […]
Micromax has entered the Indian tablet market with a 7-inch ‘Funbook’ priced at Rs 6,500, making it the cheapest Android tablet in India from a prominent brand. That credit earlier belonged to HCL’s ME U1 tablet, priced at Rs 8,000. The Funbook is a good 19% cheaper than the HCL ME U1. Micromax has partnered […]
Sun Direct will offer IPL (Indian Premier League) matches in high definition (HD). Previously, Sony Max HD, the channel on which IPL is being telecast, was being offered by cable operator Hathway. However, subscribers will need to have HD enabled set top boxes to enjoy the broadcast. “All existing HD customers of Sun Direct as […]
The GSM Association, which represents GSM operators and equipment companies worldwide, predicted that India will have 367 million (36.7 crore) mobile broadband connections by 2016. India currently has a total of around 20-30 million broadband connections, including about 13 million DSL connections. The exact number of broadband connections in India is not known, as 3G […]
The noose is gradually tightening around Suresh Kalmadi, the former Chairman of the Organizing Committee of the Common Wealth Games (CWG). With the arrest of his deputy, Lalit Bhanot , a former Secretary General of the CWG by the CBI today it is now speculated that very soon Kalmdi would also be behind bars . […]
India’s core sector industries’ output grew 6.8% year on year in February, government numbers revealed. The eight industries have a combined weight of 37.90 per cent in India’s Index of Industrial Production (IIP). The combined Index was 145.6 in February 2012. It had grown 6.4% Growth in February 2011. The growth is significantly higher than […]
India’s defence minister AK Antony said a major “step up” is required in India’s defence modernization to keep up with its neighbours. “We live in a sensitive region. We have to consider the pace at which our neighbours are modernizing… Need a substantial step-up for the modernization.. It is our stance, a balanced stand will […]
Defence minister of AK Antony termed the recent leak of Army chief VK Singh’s letter to the Prime Minister as “anti-national.” “Whoever leaked this letter.. that act is anti-national. No patriotic Indian will do this. It helps only enemies, only our enemies… We have requested the IB to enquire about this.. We want to know […]
Global rating agency Fitch has forecast that real GDP in India could grow around 7.5% in the new financial year, up from an estimate of 7.0% in FY2011-12. “India appears to be reaching the bottom of the current economic cycle. Real GDP grew just 6.1% yoy in Q411, down from 6.9% yoy in Q311… Industrial […]
The ruling Congress Party’s cup of woes continue to overflow. Announcement for the Joint Parliamentary Committee (JPC) was supposed to facilitate the smooth functioning of the Parliament but the Lower House or Lok Sabha continues to see disruption, and this time on the issue of a separate Telengana state. Leading the protest were eleven Congress […]
The government today claimed that the widely reported case of polio in West Bengal was not, in fact, one. Media reports had claimed that India’s multi-year effort to wipe out polio from the country had failed, with the case of Sumi Naskar 18-month old girl from from Baruipur, 24-Parganas South. India has not reported any […]
Air India’s losses has increased by around 20% this year, going by the numbers for the first half, the government told the Rajya Sabha yesterday. India’s national carrier has recorded a loss of Rs 4,100 crore in the first six months of the year. On an annualized basis, the carrier may suffer a loss of […]
India’s trade deficit could be in excess of $180 billion this year and could rise to an alarming $428.3 billion by 2015-16, creating a payments crisis, industry body ASSOCHAM said today. India had a target of keeping its goods-trade deficit in the $120-130 range this year, but has failed miserably to stick to the estimates, […]
