- Saturday, March 01, 2025
By: Shubham Ghosh
Here are news related to Indian economy and business for Wednesday, May 3, 2023:
For the first first more than half of Indians, 759 million citizens, are active internet users and access the internet at least once a month, a joint report by industry body IAMAI and market data analytics firm Kantar said on Wednesday, PTI reported. According to the report, the active internet base in India is expected to grow to 900 million by 2025. “759 million are ‘active’ internet users, accessing the internet at least once a month. By 2025 the number is expected to grow to 900 million. This is for the first time that the majority of Indians have become active internet users,” the Internet in India Report 2022 said.
No-frills carrier Go First filing for insolvency proceedings and cancelling flights is bad for the airline industry as the move will reduce capacity and could push airfares in certain routes, travel agents’ grouping TAAI said on Wednesday, PTI reported. Bogged down by an acute financial crunch due to grounding of more than half of its fleet amid P&W engine supply woes, Go First has cancelled flights for three days starting May 3. Besides, the Wadia Group-owned airline has filed for voluntary insolvency resolution proceedings under the Insolvency and Bankruptcy Code.
India’s JSW Steel Ltd on Wednesday said that its unit, JSW Steel USA, has plans to invest $145 million (£115.4 million) in new projects to upgrade its manufacturing operations in the state of Ohio, Reuters reported. “These investments & projects will help us in producing high quality ‘melted and manufactured in USA’ steel products required by our customers in the infrastructure and renewable energy sectors,” Parth Jindal, director of JSW Steel USA, was quoted as saying by Reuters.
The Public Enterprises Selection Board recommended on Wednesday Central Coalfields chairman-cum-managing director (CMD) Polavarapu Mallikharjuna Prasad as the next CMD of Coal India, Hindu BusinessLine reported. Prasad is likely to take the charge of India’s largest coal miner accounting for almost 80 per cent of the mined commodity from July 1.
Blis is further expanding its operations in India with two strategic roles, growing its headcount across Asia by 30 per cent in the last six months, ANI/PRNewswire reported. Blis has added to the investment in regional roles to drive growth and meet advertiser demand, now offering a truly national sales representation across India. Blis welcomes new head of sales, Nabajit Nath, based out of Mumbai to lead the sales efforts across the region. Nath joins the team with more than a decade of experience in digital advertising and technology sales, including Paytm, Flipkart and Network 18.
