NMDC output slid 1%, sales rose 3% in April
she added.
‘Return to normalcy’
Ms. Ramachandran observed a lot of ‘normalisation’ had happened among investors and entrepreneurs and conversations were now getting better with realistic expectations from both sides.
“This scenario will boost the growth of the domestic funding market. We hope, from now on, things are going to be easier for both parties,” she commented.
Funding winter, set in a couple of years ago after many global funds dialed down their investments in India because of a lack of private fund availability, coupled with the global economic uncertainty.
“However, India by itself is an attractive market, and we do attract capital in the early stage investments. But in terms of return on capital, our funding markets are yet to gain maturity,” she observed.
‘Credit averse’
On lending to women, she said, women were credit averse and were very responsible, yet opportunities available for them could be fewer, and that could also be one of the reasons why a lesser number of women became entrepreneurs.
However, “it is encouraging to see some startups having women cofounders,” Ms. Ramachandran added.
State-owned NMDC reported iron-ore production for April slid almost 1% while sales increased almost 3%.
Production stood at 3.48 million tonne (mt) (3.51 mt) and sales 3.53 mt (3.43 mt), NMDC said in a ling on the provisional numbers.
India’s largest iron-ore producer has been reporting a year-on-year decline in output since February. In March, production and sales fell. For the year ended March, it had reported a 10% increase in production to a record 45.1 mt and 16% higher sales at 44.48 mt.
“We are targeting north of 10% growth in our volumes in FY25 attuned to the growth trajectory of India’s
Amitava Mukherjee
iron-ore output and demand,” CMD (additional charge) Amitava Mukherjee said in a statement.
‘Promising start’
“All our mining complexes have delivered a promising start and are geared up to harmonise with the new mining technologies, navigate sectoral challenges and achieve 50 million tonne,” he added.