India’s electric vehicle (EV) fleet is projected to exceed 28 million units by 2030, significantly increasing demand for grid energy, according to the India Energy Storage Alliance (IESA). With cumulative EV sales surpassing 4.1 million units in FY 2023-24, the sector’s growth is fueled by rising environmental awareness, advancements in battery technology, and expanded charging infrastructure. IESA estimates that ...

India’s foreign exchange reserves remained above $700 billion for the second straight week, according to data from the Reserve Bank of India (RBI) released on Friday. As of October 4, the reserves stood at $701.18 billion, marking a decline of $3.71 billion from the previous week. India’s forex reserves, which are at an all-time high, rank as the fourth-largest globally, ...

In a significant development in India’s burgeoning IPO market, SoftBank-backed food delivery giant, Swiggy, has received approval from its shareholders to increase the size of its fresh issue in its upcoming IPO. The approval will allow the company to raise the fresh issue size to 50 billion rupees ($595 million), a substantial increase from the previously planned 37.5 billion rupees. This ...

The global shipments of used smartphones, including officially refurbished and used smartphones, were estimated to have reached 282.6 million units in 2022, representing an 11.5 per cent increase over the 253.4 million units shipped in 2021, according to the IDC. This growth is expected to continue, as IDC forecasts that used smartphone shipments will reach 413.3 million units worth $99.9 ...

Amid stringent food safety regulations imposed by countries across the globe, Indian spices and spice products surged to a record export growth worth Rs.17664.61 crore (US$ 2633.30 million) and a volume of 9,47,790 tonnes in 2016-17, said a statement. The buoyancy in exports of spices and related products, both in terms of value and volume, compares favourably with figures of ...