DDIndia Business: Economic Headlines & Updates

Business

September 15, 2024 8:02 PM

New players emerge as India’s EV two-wheeler market expands

India's electric vehicle (EV) two-wheeler market is witnessing a surge in competition as the government rolls out incentives for the production and purchase of EVs. A wave of new entrants is now challenging established players to secure a share of th...

September 15, 2024 11:23 AM

Indian biotech startups unveil 11 new products at Global Bio-India 2024

The fourth edition of Global Bio-India 2024 concluded successfully at Pragati Maidan, New Delhi, showcasing India's growing biotech capabilities. Organized by the Department of Biotechnology (DBT) under the Ministry of Science and Technology, in part...

September 14, 2024 5:54 PM

Samsung, Xiaomi colluded with Amazon, Flipkart: CCI report

Samsung, Xiaomi and other smartphone companies colluded with Amazon and Walmart's Flipkart to exclusively launch products on the e-commerce firms' Indian websites in breach of antitrust laws, according to the Reuters news agency. Antitrust investiga...

September 14, 2024 5:21 PM

Government removes floor price on Basmati rice exports to boost global trade

The Government of India has decided to remove the floor price on its exports to enhance the export of India’s premier basmati rice. This decision follows extensive trade concerns and a stable domestic rice supply. The Agricultural and Processed Fo...

September 14, 2024 4:03 PM

India, Argentina hold 7th round of Foreign Office Consultations, discuss areas of cooperation

India and Argentina have concluded their seventh round of Foreign Office Consultations (FOCs) in Buenos Aires, marking a significant step in reinforcing bilateral relations between the two nations. The talks, held on Friday, covered a wide range of t...

September 14, 2024 2:52 PM

CCI probe finds Amazon, Walmart’s Flipkart breached antitrust laws

The Competition Commission of India (CCI) investigation has found U.S. e-commerce giant Amazon and Walmart's Flipkart violated local competition laws by giving preference to select sellers on their shopping websites, Reuters reported. CCI in 2020 or...

September 14, 2024 1:41 PM

US locks in steep China tariff hikes, some industries warn of disruptions

The Biden administration on Friday locked in steep tariff hikes on Chinese imports, including a 100% duty on electric vehicles, to boost protections for strategic industries from China's state-driven industrial practices. The U.S. Trade Representati...

September 14, 2024 10:45 AM

OpenAI’s stunning $150 billion valuation hinges on upending corporate structure, sources say

OpenAI's new financing round is expected to come in the form of convertible notes, according to sources with direct knowledge of the matter, who said its $150 billion valuation will be contingent on whether the ChatGPT-maker can upend its corporate s...

September 13, 2024 5:16 PM

TikTok faces crucial court hearing that could decide fate in US

TikTok and parent company ByteDance face a key court hearing on Monday in a legal battle seeking to block a law that could ban the app used by 170 million Americans as soon as Jan. 19. The U.S. Court of Appeals for the District of Columbia will hold...

September 13, 2024 8:34 PM

Ford announces plans to restart manufacturing plant in Tamil Nadu for global exports

Ford Motor Company said on Friday it intends to restart operations at its manufacturing plant in Tamil Nadu. The American automaker aims to repurpose the facility for export-focused production, marking a new chapter in its relationship with the India...