THEBUSINESSBYTES BUREAU NEW DELHI, JANUARY 2, 2025 In a significant push towards sustainable transportation, the Indian government announced that 16.15 lakh electric vehicles (EVs) have been incentivized under the Faster Adoption and Manufacturing of Hybrid and Electric Vehicles in India (FAME India)-II scheme. The initiative, launched in 2019, underscores India’s commitment to eco-friendly mobility solutions and a greener future. The ...

THEBUSINESSBYTES BUREAU NEW DELHI, JANUARY 2, 2025 In a significant move aimed at aligning price indices with the evolving economic landscape, the government has constituted a Working Group under the leadership of NITI Aayog member Ramesh Chand to revise the base year of the Wholesale Price Index (WPI) from 2011-12 to 2022-23. The 18-member panel, which includes representatives from key ...

THEBUSINESSBYTES BUREAU NEW DELHI, JANUARY 2, 2025 India has reaffirmed its position as a global textile powerhouse, claiming 3.9% of the global trade in textiles and apparel (T&A) in 2023, and ranking as the world’s sixth-largest exporter in the sector. Textiles and apparel, including handicrafts, constituted a robust 8.21% of India’s total exports for the fiscal year 2023-24, underscoring the ...

By PRIYABRAT BISWAL With each New Year, a bittersweet memory resurfaces — one I’ve cherished for decades. It’s the memory of my mother, quietly standing by my side as she handed me a diary, a simple yet profoundly meaningful gift. For me, the arrival of the New Year will always be intertwined with the memory of her thoughtful gesture, which ...

THEBUSINESSBYTES BUREAU GURGAON, JANUARY 1, 2025 Suzuki Motorcycle India Pvt. Ltd. (SMIPL), the two-wheeler subsidiary of Suzuki Motor Corporation, Japan, has announced an impressive 22% growth in sales for December 2024. The company reported total sales of 96,804 units during the month, compared to 79,483 units in December 2023. Domestic sales surged by 14%, reaching 78,834 units, up from 69,025 ...

THEBUSINESSBYTES BUREAU NEW DELHI, JANUARY 1, 2025 India’s coal sector achieved a remarkable milestone in December 2024, with total coal production reaching 97.94 million tonnes (MT), a 5.33% growth compared to the 92.98 MT produced in December 2023. This impressive performance reflects the Ministry of Coal’s relentless drive to meet the country’s burgeoning energy demands. A significant contributor to this ...

THEBUSINESSBYTES BUREAU NEW DELHI, JANUARY 1, 2025 India’s mineral and non-ferrous metal sectors have maintained their momentum of robust growth during FY 2024-25 (April-November 2024), building on record production levels achieved in the previous fiscal year. The nation continues to solidify its position as a global leader in mineral production, driven by strong demand across core industries like steel, energy, ...

THEBUSINESSBYTES BUREAU NEW DELHI, JANUARY 1, 2025 India’s Goods and Services Tax (GST) collections surged by 7.3% year-on-year to reach ₹1.77 lakh crore in December 2024, as per government data released on Wednesday. This increase reflects sustained economic momentum and robust compliance trends across the country. Breaking down the components of the December GST collections, Central GST (CGST) accounted for ...

THEBUSINESSBYTES BUREAU NEW DELHI, JANUARY 1, 2025 In a landmark decision aimed at bolstering agricultural productivity and ensuring the welfare of farmers, the Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the extension of a one-time special package subsidy on Di-Ammonium Phosphate (DAP) fertilizer. This move ensures that farmers will continue to receive DAP at subsidized rates ...

THEBUSINESSBYTES BUREAU NEW DELHI, JANUARY 1, 2025 In a significant move to fortify the agricultural sector, the Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the continuation of the Pradhan Mantri Fasal Bima Yojana (PMFBY) and the Restructured Weather Based Crop Insurance Scheme (RWBCIS) till 2025-26. With an overall financial outlay of Rs 69,515.71 crore for the ...