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Time of India
a day ago
- Business
- Time of India
IIT-D tops Indian institutions in QS university ranking
New Delhi: Several Delhi higher educational institutions are among the 54 Indian institutes to have secured spots in the QS World University Rankings 2026, which was released Thursday. IIT Delhi , which secured the 123rd position globally, led the way, making it not only the highest-ranked institute from Delhi, but from India as well. The institution's global ranking, which saw a significant jump from last year's 150th, marks its highest position ever in the rankings. The QS World University Rankings 2026 assessed 8,467 institutions worldwide, with the top 1,501 making it to the final list. India, which had eight new entries this year, is the fourth most represented country globally. Among the 54 Indian institutions in the list, Delhi University held the 328th position globally while Jawaharlal Nehru University was ranked 558th. The two universities were also among the top 20 from the country. Jamia Millia Islamia, Jamia Hamdard and Guru Gobind Singh Indraprastha University also earned spots on the list. Prof Vivek Buwa, head of the rankings cell and Dean of Planning at IIT Delhi, said, "These rankings allow us to introspect and identify areas that need further improvement. With the combined efforts of all stakeholders, IIT Delhi steadily improved its rankings across several parameters and has strong potential to break into the top 100 global universities." IIT Delhi performed particularly well across several indicators. It ranks among the top 50 global institutions in 'employer reputation' — a metric that assesses employers' perceptions of which institutions produce the most job-ready graduates. The institute is also placed within the top 90 globally for 'citations per faculty', which measures the average number of citations per faculty member as an indicator of research impact and quality. Additionally, IIT Delhi is ranked within the top 150 for 'academic reputation', which reflects global academic opinion on institutional excellence, and among the top 175 for sustainability. At 328 globally, DU was the next highest-ranked institution from Delhi. Vice-chancellor Yogesh Singh said the university advanced 14 places to 30 in 'employment outcomes' compared to last year. He stressed that DU holds the top spot among Indian institutions in this category and ranks seventh overall in India. "The significant improvement in our overall score — from 33.8 to 42.6 — demonstrates the university's growing academic strength and expanding global reputation. With a global rank of 328, this score increase reflects the deepening quality, impact and reach of our institutional efforts. Our faculty, researchers and students are leading this transformation, consistently producing innovation, high-impact research and fostering international collaborations," Singh added. JNU is the only other Delhi-based university in the top 20 Indian institutions on the list. It moved up from last year's global rank of 580 to 558 and now holds the 13th position among Indian universities. Jamia Millia Islamia advanced to the 761-770 bracket from last year's 851-900 range, placing it 24th in India. Guru Gobind Singh Indraprastha University improved to the 951-1000 bracket from its earlier position of 1001-1200, now ranking 35th in India. Jamia Hamdard ranked 1401 globally and held the 53rd position in India.
NBC News
3 days ago
- Business
- NBC News
Homebuilder sentiment nears pandemic low as economic uncertainty plagues consumers
Higher mortgage rates and uncertainty in the broader economy continue to weigh on consumers — and consequently on the nation's homebuilders. Builder sentiment in June dropped 2 points from May to 32 on the National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI). Anything below 50 is considered negative. The index stood at 43 in June 2024. Analysts had been expecting a slight improvement, given recent tariff negotiations and pullbacks by the Trump administration. This index has only seen a lower reading than June's level twice since 2012 — in December 2022, after mortgage rates shot up from record lows during the first two years of the pandemic, and in April 2020 at the very start of the pandemic. Of the index's three components, current sales conditions fell 2 points to 35, sales expectations in the next six months dropped 2 points to 40, and buyer traffic fell 2 points to 21, the lowest reading on that metric since the end of 2023. 'Buyers are increasingly moving to the sidelines due to elevated mortgage rates and tariff and economic uncertainty,' said Buddy Hughes, NAHB chairman and a homebuilder from Lexington, North Carolina, in a release. 'To help address affordability concerns and bring hesitant buyers off the fence, a growing number of builders are moving to cut prices.' In the June survey, 37% of builders said they had cut prices, the highest share since NAHB started tracking the monthly metric three years ago. That is up from 34% who reported cutting prices in May and 29% in April. The average price reduction was 5%, which has been steady since late last year. 'Rising inventory levels and prospective home buyers who are on hold waiting for affordability conditions to improve are resulting in weakening price growth in most markets and generating price declines for resales in a growing number of markets,' said Robert Dietz, chief economist at the NAHB. 'Given current market conditions, NAHB is forecasting a decline in single-family starts for 2025.' The report follows quarterly earnings from Lennar, one of the nation's largest homebuilders, in which the second-quarter average home price dropped nearly 9% from the same quarter in 2024. Guidance on new orders and deliveries was also below analysts' expectations. 'As mortgage interest rates remained higher and consumer confidence continued to weaken, we drove volume with starts while incentivizing sales to enable affordability and help consumers to purchase homes,' said Lennar co-CEO Stuart Miller in an earnings release. Regionally, on a three-month moving average, the South and West showed the weakest builder sentiment. Those are the regions where the most homes are built.
Indian Express
3 days ago
- Business
- Indian Express
The Indian economy has grown — and taken the most vulnerable along
India under Prime Minister Narendra Modi stands out as a rare example in a deeply unequal and uncertain global landscape. Growth has not only been consistent but consciously inclusive. Since assuming office in 2014, PM Modi has governed with a singular purpose — to ensure that development reaches every Indian, especially those long forgotten by the policy machinery. His vision of Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas was not a rhetorical flourish. Over the last 11 years, it has taken the shape of tangible outcomes, measurable progress, and visible transformation across the social and economic spectrum. Inflation control: Protecting the most vulnerable A defining feature of the Modi era has been the stabilisation of inflation, arguably the most direct metric of how a government impacts people's daily lives. In May, India's retail inflation fell to a remarkable low of 2.82 per cent, despite the global economy being rocked by conflicts, supply chain disruptions, and commodity price volatility. Compare this to 2013, when inflation under the UPA government averaged 10.02 per cent. High inflation hits the poor hardest. It erodes real incomes, shrinks consumption, and breeds uncertainty. PM Modi's ability to maintain macroeconomic stability while steering the economy through multiple crises reflects prudence and foresight, a fine balance of fiscal discipline and social compassion. Under PM Modi's leadership, India has witnessed a historic decline in poverty. Higher poverty levels dropped from 53.6 per cent in 2011-12 to just 16.4 per cent in 2022-23, while extreme poverty fell sharply from 12.2 per cent to a mere 2.2 per cent. This remarkable transformation is the result of targeted welfare with systemic delivery, saturation-based schemes, rural development, and job-generating infrastructure growth. Poverty tackled, beyond the slogans Notably, the most significant reductions were seen in NDA-ruled states — Uttar Pradesh and Bihar — which topped the charts in poverty reduction. UP brought its poverty rate down from 67.2 per cent to 32.1 per cent, while Bihar witnessed an even steeper fall from 69.6 per cent to 23.3 per cent, reaffirming the transformative impact of the Modi government's governance model. This stands in stark contrast to the poverty politics of the past. As early as the 1960s, 40 per cent of rural and 50 per cent of urban Indians lived below the poverty line. Through the 1970s and 1980s, poverty remained entrenched, especially in rural areas where it crossed 50 per cent. Political responses came not through structural reform but through slogans. 'Garibi Hatao' became the rallying cry in election campaigns, but the underlying reality of deprivation persisted. Poverty, instead of being tackled head-on, was turned into a tool for populism, spoken of on podiums, ignored in policy. The slogan changed. Poverty stayed the same. One of the less discussed but highly consequential transformations has been in food consumption patterns. A decade ago, the average Indian family, particularly in rural areas, consumed fresh fruits and perishable produce only seasonally, with limited access due to price volatility and poor supply chains. Today, over 90 per cent of rural households and 94 per cent of urban households report year-round access to fresh fruits. This shift has been made possible by infrastructure with intent — rural roads, logistics upgrades, and cold chain networks that have democratised nutrition. Protecting heritage, promoting development Another remarkable example of how PM Modi has blended heritage with holistic development is the transformation of Kashi through the Kashi Vishwanath Dham Corridor. Far from being just a beautification project, it has triggered a profound economic revival rooted in faith. Since its completion, Varanasi's income has surged by up to 75 per cent, with tourist footfall increasing 12 times. This rise has directly benefited boatmen, priests, hoteliers, shopkeepers, rickshaw pullers, and artisans, whose earnings have seen a sharp spike — boatmen's income up by 90 per cent, hotel revenues by 80 per cent, and employment in tourism-related sectors increasing by over 50 per cent. Traditional crafts like Banarasi sarees, meenakari, and handicrafts have also experienced a vibrant resurgence. What was once viewed as an overcrowded spiritual town now reflects a glowing confluence of devotion with development. From hawai chappal to hawai jahaz A shining symbol of aspirational inclusion is the UDAN (Ude Desh ka Aam Nagrik) scheme, launched in 2016 to make air travel accessible to the common man — from hawai chappal to hawai jahaz. Since the first UDAN flight in 2017, 625 routes have been operationalised, connecting 90 airports, including remote regions via 15 heliports and 2 water aerodromes. Over 1.49 crore passengers have benefitted, supported by ₹4,023 crore in Viability Gap Funding. Even airports have become more inclusive — with Yatri Cafés offering tea for ₹10 and samosas for ₹20 — turning elite spaces into public-friendly hubs. The Pradhan Mantri Gram Sadak Yojana (PMGSY) exemplifies how infrastructure can drive social mobility. According to recent data, PMGSY-connected habitations have seen an 8–10 per cent increase in farm productivity, a 12–15 per cent reduction in transport costs, and a 20 per cent rise in market access for rural businesses. School enrollment has increased by 15 per cent, healthcare access by 23 per cent, and maternal mortality has declined by 18 per cent. Perhaps most notably, female workforce participation has risen by 25 per cent, driven by women stepping into agricultural roles as men moved to non-farm jobs. Further, PMGSY-IV is poised to create over 40 crore person-days of employment — a massive boost for the rural economy. The nation today is more connected, more confident, and more capable than ever before. India under Prime Minister Modi has shown that inclusive growth is not just a moral imperative — it is smart economics. While many around the world debate how to bridge inequality, India has offered a model: Reform with compassion, development with dignity, governance with grit. The writer is National Spokesperson, Bharatiya Janata Party
NBC News
4 days ago
- Automotive
- NBC News
Trump formalizes tariff cuts for U.K. as trade talks continue
President Donald Trump on Monday signed an agreement formally lowering some tariffs on imports from the United Kingdom as the two countries continue working toward a formal trade deal. Trump lowered tariffs on the U.K. aerospace sector to zero, which will take effect by the end of the month according to the U.K. Department for Business and Trade. The document also lowers tariffs on U.K. auto imports to 10% on the first 100,000 vehicles, according to the White House. Previously vehicles imported from Great Britain faced a 27.5% duty. However, today's agreement does not lower steel tariffs to zero as the two leaders agreed in May. "As the Prime Minister and President Trump have again confirmed, we will continue to go further and make progress towards 0% tariffs on core steel products," the U.K. government said in a statement. In the meantime, imports of U.K. steel products will continue to face a 25% duty. "This now implements on car tariffs and aerospace. It's a really important agreement and so this is very good day for both of our countries," U.K. Prime Minister Keir Starmer said. "It's a fair deal for both and it's going to produce a lot of jobs, a lot of income. And we have many, many others coming," Trump said alongside Starmer. The original agreement with the U.K. announced in May is so far the only trade deal Trump has reached since he slapped every U.S. trading partner with a dizzying array of tariffs on April 2. Trump paused the implementation of those tariffs for 90 days after the announcement rocked global markets. Monday's agreement also implements "reciprocal access to 13,000 metric tonnes beef for both US and British farmers," the U.K. said. While the United Kingdom just makes it into the top 10 of America's trading partners, the deal is critical for U.K. Prime Minister Starmer, who unveiled the deal in an impromptu visit to a Jaguar Land Rover factory in England in May. Starmer and his Labour government are pushing to grow the U.K. economy, which contracted in April amid a record fall in exports to the United States. Starmer's government also had to partially nationalize the last major steel plant in the U.K. as the industry increasingly moves abroad, primarily to Asia. For Trump's part, his government has repeatedly promised to ink '90 deals in 90 days.' 'I'm telling you, these countries are calling us up, kissing my a**,' Trump said in April before his reciprocal tariffs were due to go into effect. 'They are dying to make a deal. 'Please, please, sir, make a deal. I'll do anything. I'll do anything, sir!'' With 68 days elapsed since Trump's so-called 'Liberation Day' tariffs were paused, the U.K. deal remains the only deal on paper but has not been formally implemented in full. Treasury Secretary Scott Bessent, U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick have held at least six days of meetings on two occasions with China but have not reached any type of deal. Likewise with the European Union, America's largest trading partner, Greer has held talks with its trade chief a handful of times but there still is no deal in sight for the 27-nation bloc. Japan's economic minister has also met with the three U.S. officials multiple times, including for 70 minutes on Sunday. However, Japan is still working to reach a formal deal with the U.S. Recently as Trump appeared to grow irritated with repeated questions about the lack of trade deals, he began saying the U.S. would start 'sending letters out' telling countries 'what the deal is' rather than negotiating one. 'We have, at the same time, 150 countries that want to make a deal. But you're not able to see that many countries,' Trump said in early May. 'So at a certain point, over the next two to three weeks, I think Scott and Howard will be sending letters out.' Trump said again in mid-June that the U.S. would be sending letters to other countries informing them about their tariff rates 'in about a week and a half, two weeks.'
Business Insider
13-06-2025
- Business
- Business Insider
Mali strikes gold refining deal with Russia to curb export losses
Mali's government has announced plans to establish a state-controlled gold refinery in partnership with Russian firm Yadran. Russia Mali is establishing a state-controlled gold refinery in partnership with Russian firm Yadran to maximize earnings from its gold sector. The refinery, named SOROMA-SA, will be majority-owned by Mali with a 62% stake, located near Bamako's airport with a capacity of 200 metric tons annually. Mali seeks to locally refine gold to meet international standards of purity (99.5%) and reduce dependency on abroad refining. Mali's government has announced plans to establish a state-controlled gold refinery in partnership with Russian firm Yadran, aiming to increase earnings from its gold sector. Finance Minister Alousseni Sanou announced that the newly formed company, SOROMA-SA, will be 62% owned by the Malian government, with Russian firm Yadran holding the remaining 38% stake. Set to be constructed on a five-hectare site near Bamako's international airport, the refinery will have the capacity to process up to 200 metric tons of gold annually, a significant leap from Mali's current processing capacity of about 50 tons, according to Reuters. Mali, Africa's second-largest gold producer, currently lacks an internationally certified refinery. The country's two existing facilities have been unable to meet the standards required by global bodies like the London Bullion Market Association (LBMA), forcing miners to refine their gold abroad. The new refinery will produce gold with a purity of 99.5%, adhering to international certification standards. Mining code reforms reshape investment landscape Sanou said the refinery will help miners comply with the country's revised mining code, which was designed to increase state participation, raise royalty rates, and mandate domestic gold refining. These reforms echo similar moves by regional neighbours like Burkina Faso, Niger, and Guinea, which have also sought to localize more of the mining value chain, sparking concern among Western investors even as ties with Russia and China deepen. Since seizing power in 2020, Mali's military government has vowed to overhaul the mining sector to ensure the state captures a larger share of gold revenues. These reforms are projected to boost annual government income by about $950 million, representing nearly 20% of the national budget. Mali's transitional president, Assimi Goita, is expected to officially launch construction of the refinery later in June, according to a spokesperson from the Ministry of Mines.
