Page 2 - Private Sector

Innovation is key: Why does India's private sector not spend more on R&D?

The one most important reason on why firms may or may not undertake R&D is not government incentives but the absence of competitive forces

India needs to lead tech transition, create future jobs: Bhavish Aggarwal

Ola Founder Bhavish Aggarwal is placing bold bets on new-age technologies with a view for India to be at the forefront of the current global tech transition led by AI, and build jobs of the future in the country. In an interaction with PTI editors at the agency's headquarters here, he said the private sector has to do the bulk of job creation, step up and do more, while creating an enabling environment and correcting imbalances, such as that of trade, are the responsibility of the government. Aggarwal also supported the government's move to offer fiscal incentives to global EV makers, including Tesla, through the new EV policy saying it is important for India to attract all kinds of investment, and globally established players will help in the development of the EV ecosystem in the country. The group's newly-listed entity Ola Electric aims to make India a global electric vehicle (EV) hub but the country has to invent an EV and energy transition paradigm for itself based on its needs

Private sector drives India's AI ambition with govt support, policies

The participation of startups and private companies in AI is not only limited to infrastructure, policy, or capacity building but also extends to skilling and other aspects as well

Bring reservation in fourth-class jobs in private sector: Anupriya Patel

Union Minister Anupriya Patel on Sunday reiterated her demand of implementing reservation in fourth-class jobs in the private sector. "Reservation is not followed in appointments done in fourth-class posts via outsourcing in the private sector. The people of deprived sections used to get fourth-class jobs. When recruitment on these posts are done through outsourcing, no reservation law is followed," Patel said while talking to reporters. "Our party wants reservation should be followed in all the appointments in fourth-class jobs through outsourcing in the private sector," she said. On Uttar Pradesh Nazul Property (Management and use of public purposes) Bill, 2024 presented by the state government, Patel said it was "unnecessary". "It has already been sent to the Select Committee by the Upper House. The committee will look into it and give its recommendation. Our party feels it is unnecessary and against public sentiments," she said. Nazul land refers to government-owned land that

Chandra Shekhar Azad introduces bill asking pvt sector quota for SC,ST,OBC

Lok Sabha MP Chandra Shekhar Azad on Friday introduced a private member bill in Lok Sabha seeking reservation for the SCs, STs, and the OBCs in private sector, educational institutions, and other establishments that employ at least 20 people and have no government financial interest. The bill seeks to extend reservation benefits, currently meant only for public sector, to the private sector. The bill was formally titled the Reservation for the Scheduled Castes, the Scheduled Tribes and the Other Backward Classes in Private Sector Act, 2024. Under the proposed legislation, the Central government must incentivise private sector entities to implement reservations for SCs, STs, and OBCs through special concessions and facilitate lower interest loans through nationalised banks. The bill also seeks presentation of an annual report detailing the actions taken under the Act in both houses of Parliament. The Central government will be mandated to create rules to ensure the effective ...

Pvt sector owns over 52% of installed power generation capacity of 446GW

Private sector owns over 52 per cent of the total installed power generation capacity of 446GW in the country, playing an important role in the sector, Parliament was informed on Thursday. In a written reply in Lok Sabha, Minister of State for Power Shripad Naik said, "Private sector is playing an important role in India's power generation. Generation is a de-licensed activity as per the Electricity Act, 2003 and 100 per cent Foreign Direct Investment (FDI) in the power sector in India is permitted for generation from all sources (except atomic energy)." As on June 30, 2024, total installed capacity in the country is 4,46,190 MW and out of which the contribution of the private sector is approximately 2,34,065 MW i.e. 52.5 per cent, he informed the House. Also, he stated that most of the renewable energy projects in the country are being set up by private sector developers selected through a transparent bidding process. In another reply to the House, the minister said that with the

Decoded: What is Agristack system? How will it benefit agriculture sector?

In her Union Budget speech, Nirmala Sitharaman announced the Agristack DPI while adding that it will bring over six crore farmers under the formal land registry system

Need to create 8 million jobs a year until 2036, says Economic Survey

Nudges pvt sector on jobs, cautions on AI; sees GDP growing by 6.5-7% in FY25; makes a case for FDI from China

Pvt sector's offering to 'toxic mix of habits' substantial: Eco Survey

The private sector's contribution to the 'toxic mix of habits' like social media, screen time and unhealthy food that can undermine public health, productivity and diminish India's economic potential is substantial, the Economic Survey said on Monday. The survey, tabled by Finance Minister Nirmala Sitharaman in Parliament, also pointed out that 'privileging capital over labour is inimical to long-term corporate growth prospects', referring to reluctance shown by businesses to make investments citing lack of demand visibility. "For India's working-age population to be gainfully employed, they need skills and good health. Social media, screen time, sedentary habits, and unhealthy food are a lethal mix that can undermine public health and productivity and diminish India's economic potential," it said. Further, it said, "The private sector's contribution to this toxic mix of habits is substantial, and that is myopic." Stating that the emerging food consumption habits of Indians are not

Employment generation is 'real bottom line' for private sector: Eco Survey

The Economic Survey notes that businesses have an obligation to themselves to strike the right balance between deployment of capital and deployment of labour

Economic Survey: What it says on trade, private sector investment and more

The Economic Survey 2024 touched on private sector investment, noting visible green shoots but urging caution. Here's why

Economy booms, pvt sector continues to expand, but youth chases govt jobs

Since 2014, India's GDP has grown from $2 trillion to near $3.5 trillion in fiscal 2023-24 (April-March) and is expected to expand 7.2 per cent in the current year

Decoded: Why did Karnataka introduce 70% quota for locals in private jobs

The now paused bill mandated a 50 per cent quota for administrative roles and a 75 per cent quota for non-administrative roles in the private sector for the locals, triggering a massive row

Karnataka CM Siddaramaiah deletes 100% job quota post, shares clarification

A controversy erupted after Siddaramaiah, in a now-deleted post on 'X', had said that Karnataka had approved a Bill mandating the private industries to give reservation to local Kannadigas in jobs

Budget 2024: India's space sector eyes strategic allocations and incentives

Union Budget 2024: The space sector in India is expected to reach $44 billion by 2033. Industry leaders call for incentives to push private sector growth

K-shaped recovery keeping retail real estate on its toes, say experts

Consumption by a wider section of society needed, they say

State-owned companies outperform pvt firms, here's why it's a problem

State firms have done better than India's benchmark Sensex index for three years straight, and look likely to do so again this year

Need to put more capital in hands of private sector: EY India chairperson

Memani talked of stepping up manufacturing and skilling

Pvt sector investment in FY23 fell to Covid-year levels, govt's share up

Public non-finance corporations' (PSUs) share in investment continued to decline, registering at 9.4 per cent in FY23, according to government data

Private equity company Bain Capital sells residual stake in Axis Bank

Among the buyers were a clutch of domestic as well as foreign funds