NEW DELHI: The Centre plans to tender around 3,000 electric buses to Mumbai and Pune under the ₹10,900-crore PM E-Drive scheme, after the Maharashtra government completed the payment security criteria required to access subsidies for clean public transport, according to two officials aware of the development. Under the scheme, the government provides a subsidy of…
The Pharmaceuticals Export Promotion Council of India (Pharmexcil), a trade promotion agency set up by the commerce ministry, has sought information from Indian pharma exporters on payment defaults by foreign buyers. India, the world’s generic drugs capital, exports nearly $28 billion worth of medicines a year making up 20% of the global volume. Around 4,000…
The Supreme Court on Tuesday deferred hearing on petitions filed by gaming companies challenging the law that banned money gaming to November. A bench of Justices J.B. Pardiwala and K.V. Viswanathan heard the matter briefly and said it would be taken up after the Diwali vacation. Lawyers representing gaming companies, including lead petitioner Head Digital…
Bank holiday today: Banks in Bengaluru, Bhubaneshwar, and Chandigarh will remain shut today, on October 7 (Tuesday), for Maharishi Valmiki Jayanti and Kumar Purnima. Overall, October 2025 has 21 official bank holidays, including religious and regional festivities of Diwali, Maha Ashtami, Dussehra, Durga Puja and Chhat Puja; and the monthly weekly offs. Bank Holidays in…
US-based pharmaceutical giant Eli Lilly is set to invest more than $1 billion in India in the coming years to boost its manufacturing and supply capacity by partnering with local drugmakers. The move is a strategic bid to tap into India’s skilled workforce and strengthen the expansion of Lilly’s global manufacturing network. Reuters reported that…
Fifth Third Bancorp plans to acquire Comerica in a $10.9 billion all-stock deal, resulting in one of the largest banks in the US by assets. The deal will establish the 9th largest bank in the US, with around $288 billion in assets. The bank says that the acquisition is expected to benefit shareholders immediately, contributing…
Mumbai: Less than a month after Ozempic maker Novo Nordisk announced it is cutting its global workforce as part of a restructuring plan, the layoffs have hit Indian employees in Bengaluru. Junior- to mid-level employees across functions such as sales and marketing, as well as those in the company’s global business services (GBS) hub, which…
However, the tough act starts now to make India globally competitive in electronics component manufacturing, an area where it has limited expertise and lacks the global-scale factories to rival those of countries such as China, Vietnam, Malaysia, and Taiwan. Mint examines whether this scheme can be a game-changer. What is the scheme? India relies heavily…
Is your sunscreen the right one for your tropical skin tone? India’s first-ever standardized testing protocol for sunscreens adds a new measurement layer for a more accurate categorisation of India’s diverse skin tones. For years, India’s $523-million sunscreen market has operated without a uniform testing framework, allowing manufacturers to use different methods to determine the…
The Reserve Bank of India, as part of its Statement on Developmental and Regulatory Policies released alongside the monetary policy statement on October 1 proposed allowing banks to fund corporate buyouts. At a broader level, the RBI’s proposal is “very proactive and progressive” and is expected to go a long way in reducing the cost…