Inequality in India has surged since the early 2000s, with the income and wealth share of the top 1% population reaching 22.6% and 40.1%, respectively, in 2022-23, according to a working paper titled ‘Income and Wealth Inequality in India, 1922-2023: The Rise of the Billionaire Raj’. The study highlights a significant increase in top-end inequality, […]

IndiGo, India’s largest airline, has unveiled ambitious plans to double in size by 2030, with CEO Pieter Elbers announcing intentions to expand both domestic and international routes. The airline aims to align with India’s economic growth trajectory by capitalizing on its soaring global ambitions. Elbers emphasized IndiGo’s strategic focus on incorporating A321 XLR aircraft into […]

New Delhi saw a notable uptick in coffee exports from India, marking a 13.35% increase to 125,631 tonnes during the January-March period of this year, driven by heightened demand for Robusta coffee, as per official data. Comparatively, the country exported 110,830 tonnes of coffee during the same period in 2023. India, positioned as Asia’s third-largest […]

In a recent statement, Rajan Anandan, Managing Director of venture capital firm Peak XV, highlighted the buoyancy of India’s startup ecosystem, projecting that Indian startups are likely to secure between USD 8-12 billion in funding this year. Anandan made these remarks during the StartUp Mahakumbh event, underscoring the vibrancy of the country’s startup landscape. He […]

Indian Oil Corporation (IOC) is gearing up to manufacture fuel for Formula 1 (F1) cars within the next three months. The fuel production will take place at the Paradip refinery located in Odisha, known for its advanced technology and strategic positioning. SM Vaidya, Chairman of Indian Oil Corporation (IOCL), announced the partnership with Two Wheels […]

In March 2024, the Indian electric two-wheeler industry experienced its highest-ever monthly sales, surpassing the 1 lakh mark for the second time. This surge coincided with the conclusion of the FAME (Faster Adoption and Manufacturing of Electric and Hybrid Vehicles in India) subsidy by the end of the financial year. March 2024 witnessed electric two-wheeler […]

Pocket FM, an audio entertainment platform, announced on Wednesday that it has secured $103 million in Series D funding, marking one of the largest fundraising rounds of the year. This new capital infusion aims to bolster Pocket FM’s expansion efforts into the US market and facilitate its global expansion plans into Europe and LatAm markets […]

In its latest move of organizational restructuring, IBM has revealed substantial job cuts within its marketing and communications division. This decision, termed as a ‘Resource Action’ by IBM, reflects the company’s ongoing transition towards artificial intelligence (AI) and other emerging technologies. Jonathan Adashek, IBM’s Chief Communications Officer, communicated the news to employees in a concise […]

Auto sales figures for March 2024 and FY24 have been released, showing significant growth across various companies. Maruti Suzuki continues to lead the market, while Hyundai has regained the second spot. Maruti Suzuki Maintains Leadership Maruti Suzuki, India’s largest carmaker, retained its position at the top by selling 1,52,718 passenger vehicles in March 2024, marking […]

India’s major cities are witnessing a surge in the housing market in 2024. Sales have risen by 20% in the first quarter from January 1 to March 15, with nearly 147,000 units sold across Delhi, Mumbai, Bengaluru, Hyderabad, Chennai, and Pune, according to a report by NoBroker, a property search portal. Factors Driving the Market […]