With the Union government focusing on boosting domestic manufacturing of pharmaceutical products, India's medicine and antibiotics exports have started gaining significant market share in the US. According to the commerce ministry data, India is the third largest import source of 'medicine put up for retail sale' for the US. The top two are Ireland and Switzerland.
Open FlipWalmart's Indian e-commerce unit Flipkart delivered double-digit topline growth and positive contribution margin in Q2FY25, with 50% year-on-year growth in grocery sales, and the company is bullish on its future performance, particularly with the upcoming Big Billion Days event. Walmart's international businesses, including Flipkart, contributed to an 8.3% increase in revenue.
Open FlipThe Karnataka government on August 14 instructed all its departments, boards, corporations, public sector units, and universities to withdraw their deposits and investments from State Bank of India (SBI) and Punjab National Bank (PNB). This directive followed a financial dispute involving the Karnataka Industrial Area Development Board (KIADB) and the two banks.
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