business news

India's Rural Infrastructure Development Fund (RIDF) has marked a significant milestone, with state governments availing ₹4.07 lakh crore for rural development projects. The annual corpus of RIDF, established in 1995-96, has surged from ₹2,000 crore to ₹50,000 crore in 2023-24. Learn how RIDF has become a pivotal force in transforming the rural economy and its future plans.

Swiggy faces disruptions as delivery riders in Mumbai protest against changes in payout rates and extended delivery radius, affecting both food and grocery deliveries. The strike has also led some customers to switch to alternative platforms like Zomato's Blinkit.

Google CEO Sundar Pichai reassures employees in Israel amidst escalating conflict with Hamas, emphasizing the company's commitment to ensuring their safety. Other businesses with a presence in the region also prioritize employee well-being.

Adani Ports and SEZ Limited, led by Gautam Adani, issues a statement to ease investor worries following the recent Hamas attack in Israel, affirming the safety of their business operations at Haifa port.

The Supreme Court has postponed the hearing of Google's appeal against the Competition Commission of India's (CCI) Rs 1,338 crore penalty for anti-trust violations to January 2024. The case centers around Google's alleged abuse of dominance in the Android mobile device ecosystem.

Applied Materials, the US-based semiconductor equipment manufacturer, is in discussions with the Karnataka government to establish a Center of Excellence for innovation and an R&D lab in Whitefield, Bengaluru, emphasizing the importance of chemicals, gases, and ease of doing business in the semiconductor ecosystem.

The GST Council, chaired by Union Finance Minister Nirmala Sitharaman, has decided to delegate the taxation of Extra Neutral Alcohol (ENA) to states and has reduced levy rates on millet flour and molasses. These changes aim to streamline taxation and benefit various sectors, including sugarcane farmers.

Ola, the Indian ride-hailing giant, has expanded its services once again, this time into the parcel delivery market. The company has launched "Ola Parcel" in Bengaluru, offering to deliver parcels through its electric scooters. The move is seen as a step towards creating an all-electric logistics ecosystem in India. Ola has set a fixed delivery fee for its parcel service, ranging from ₹25 for a 5km delivery to ₹100 for a 20km delivery.

Disney is exploring discussions with potential buyers, including Adani and Sun TV, to sell its India streaming and television business, including assets such as sports rights and Disney Hotstar. The move comes amid changing market dynamics after Reliance Industries secured streaming rights to the Indian Premier League cricket tournament and chose to broadcast it for free.

Amazon has introduced 'Prime Shopping Edition' exclusively for Android users in India at ₹399 per year. This initiative offers free shipping and one-day deliveries but excludes Prime Video, music, and other entertainment services. With over 650 million smartphone users in India, the move targets the majority who use Android devices, coinciding with the Great Indian Festival sale.