Uzbekistan positions itself as a regional investment hub

Uzbekistan positions itself as a regional investment hub amid reforms and a focus on the market economy, attracting foreign investments, including from India. The Third Tashkent International Investme

India's forex reserves decline by $2.41 bn to $637.92 bn as of April 26

India's foreign exchange reserves saw a decline of $2.41 billion to $637.92 billion as of April 26, according to the latest data from the Reserve Bank of India (RBI). This follows a previous decrease

India has made ETO testing mandatory for export of all spices to Singapore and Hong Kong

India’s Spices Board has made testing for ethylene oxide (ETO) mandatory for all spices being exported to Hong Kong and Singapore, where authorities last month stopped sales of some products of two

India, Nigeria to increase cooperation in energy, UPI, local currency settlement to enhance economic ties

India and Nigeria are ramping up cooperation in several key areas to bolster economic ties. During a recent visit by an Indian delegation to Nigeria, both countries discussed increasing collaboration

Centre approves appointment of Sanjaya Kumar Mishra as President, GSTAT

The Appointment committee of Cabinet has approved the appointment of Sanjaya Kumar Mishra, former Chief Justice, Jharkhand High Court as President GST Appellate Tribunal (GSTAT) for 4 years.​​

India seeks more presence at decision-making level of ILO

India pushes for enhanced representation at ILO by revising criteria to include demographic dividend, global demand-supply gap, and population/labor workforce. This aims for equitable decision-making

PSBs plan to set up 'green cells' for climate funding

State-run banks to introduce 'green cells' for ESG risk assessment and green fund management under EASE 7.0. RBI emphasizes 2.5% GDP green financing. SBI chairman pushes for incentives and CRR relaxat

GST National Coordination meeting on Friday may discuss tightening noose on fake registrations

Central and state GST officers will convene to discuss various issues, including stricter registration norms to combat fake companies evading taxes. This meeting follows record-high GST collections of

India's services exports dip marginally in March to $30 bn

In March 2024, India's services exports dipped by 1.3% to $30 billion, while imports decreased by 2.1% to $16.61 billion, according to Reserve Bank data. The trade surplus for the month stood at $13.4

97.76% of Rs 2000 currency notes returned, says RBI

The Reserve Bank of India (RBI) reported that 97.76% of the Rs 2000 denomination banknotes have been returned to the banking system, leaving only Rs 7,961 crore with the public. Since the announcement

China, Hong Kong account for 56 pc of India 's total imports of electronics, telecom, electrical products: GTRI

India's imports of electronics, telecom, and electrical products surged to USD 89.8 billion in 2023-24, with over half of these imports coming from China and Hong Kong, according to the Global Trade R

With export of oranges squeezed, Nagpur region farmers pin their hope on pulp

Trade tensions near Nagpur impact onion and cotton, affecting orange growers and cotton farmers in Vidarbha. Export policies and market fluctuations pose challenges, prompting farmers to seek alternat

From spices to steel to drugs, India's exports are being hammered

India's path to becoming a developed country hinges on boosting exports, as demonstrated by China's growth. Leveraging bilateral agreements and FTAs, India is expanding into new markets like Africa an

OECD revises India's FY25 growth forecast upward to 6.6%

OECD revised India’s FY25 growth forecast to 6.6%, citing strong investment and business confidence. Public sector investment will be crucial, with inflation expected to decrease, leading to rate cu

When will RBI cut rates? Economists say you need to wait till...

The Reserve Bank of India is expected to delay cutting interest rates until the final quarter of the year, according to a Bloomberg survey. The RBI may reduce its benchmark repurchase rate by 50 basis

Manufacturing activity eases slightly to 58.8 in April; optimism improves

Buoyant domestic demand ensured a strong start for the fiscal, with the manufacturing activity easing slightly to 58.8 in April compared with 59.1 in the previous month, according to results of a priv

2G scam case: D Subbarao's new book calls into question CAG's version of 'presumptive loss'

In his new book 'Just A Mercenary?: Notes from My Life and Career', Subbarao wrote at length on his role in the decision-making on the pricing of the 2G spectrum, an issue that later ballooned into a

India's manufacturing sector still strong even as PMI eases from a 16-year high in April

In April, India's manufacturing sector saw a slight slowdown, yet remained strong due to high demand, revealed by a private business survey. This surge in demand drove companies to increase raw materi

April GST numbers are here and they're off the charts

India's economy is estimated to have grown 7.6% in FY24. The IMF expects India's GDP to expand 6.8% in FY25, retaining its status as the world's fastest-growing major economy. Total GST collection was

Digital crop survey on cards to fine-tune farm statistics

A mobile application of the digital crop survey and relevant web applications will be used by nodal officials of states to gather data on crop sowing. The farm ministry aims to create a robust crop su

Work demand under rural jobs scheme dips in April

The International Monetary Fund (IMF) last month raised India's FY25 growth forecast by 30 basis points to 6.8%. Although the pace of expansion could moderate from an estimated 7.8% in FY24, India wil

India-UAE CEPA celebrates two years marked by robust growth in bilateral trade

Implemented on 1 May 2022, the UAE-India CEPA offers numerous trade benefits, including the elimination and reduction of tariffs, an open trade environment, and enhanced market access for service prov

Record GST mop-up reflects robust eco, audit efficacy; raises hope for further reforms: Experts

Tax experts hailed the record-breaking GST collection of Rs 2.10 lakh crore in April, attributing it to a robust economy and effective audit and scrutiny by the tax department. They anticipate this ac

Quality concerns may threaten over half of India’s spice exports: GTRI

GTRI highlighted concerns over $700 million India spice exports at risk due to regulatory actions in critical markets. Urgent actions are needed to prevent widespread rejection and ensure the integrit

MDH and Everest controversy could threaten over half of India's spice exports; GTRI sounds alarm

Controversy involving MDH and Everest spice companies threatens India's spice shipments. Urgent quality resolution highlighted by Global Trade Research Initiative. Concerns raised by multiple countrie

Developing e-com hubs to boost exports may figure in ministry's 100-day agenda of new govt: Official

India aims to boost exports through e-commerce hubs. Collaboration with ministries and industry experts to enhance export opportunities. E-commerce expected to drive India's merchandise exports to USD

India, Nigeria agree to early conclusion of local currency settlement system agreement

India and Nigeria have agreed to conclude a local currency settlement system agreement to strengthen economic ties. The agreement, signed during a joint session of the India-Nigeria Joint Trade Commit

GST revenue collection hits record high of Rs 2.10 lakh cr in April, up 12.4% YoY

GST revenue collection hits record high of Rs 2.10 lakh cr in April

India's Goods and Services Tax (GST) collections soared to a new peak of Rs 2.10 lakh crore in April, marking a 12.4% increase from the previous year, according to the Finance Ministry. The surge was

Rising heatwave may hit farm output, push up inflation: Experts

Economists warn of heatwave's impact on farm output and inflation, raising prices. Perishable foods, like vegetables, key contributors to inflation. Concerns about logistical challenges, kharif season

Core sector growth eases to 5.2% in March

India's core sector growth slowed to 5.2% in March 2024, impacted by various industries. The Index of Industrial Production (IIP) is likely to see a moderate growth of 3.5-5% in the same month. The s

India to grow 6.8% in FY25, public investment to be the driver, says IMF

The IMF recently revised India’s growth forecast upward to 6.8% from 6.5% projected in its January forecast. The fund also revised India’s FY24 growth outlook upward to 7.8%, higher than the gover

RBI updates guidance note on operational risk management, extends it to NBFCs

The Reserve Bank of India (RBI) updated its "guidance note" on operational risk management for the financial sector, extending it to include NBFCs and housing finance companies. The note highlights th

National Highways construction to decline by 7-10% to 31 km/day in FY25: CareEdge Ratings

CareEdge Ratings predicts a 7-10% slowdown in the pace of National Highways construction in India, estimating around 31 km/day for the current fiscal year due to increased execution challenges. Despit

India's infrastructure output slows down to 5.2% in March as against 7.1% in Feb

India's eight core sectors saw an annual growth rate of 5.2% in March, with production in cement, coal, electricity, natural gas, steel, and crude oil showing positive growth.

India buys more Russian, less Saudi oil in April

In April, India increased imports of Russian oil while decreasing imports from Iraq and Saudi Arabia, according to preliminary data from Kpler and LSEG. Despite geopolitical tensions, Russia remained

Govt buys 196 lakh tonne wheat so far, higher than annual demand of 186 lakh ton for welfare schemes

Government exceeds wheat procurement target for welfare schemes, focusing on buffer stocks and open market intervention. Lower purchases in Madhya Pradesh and Punjab. Food Corporation of India strives

Road construction in India to witness 7-10% slowdown in FY25 due to challenges in execution: CareEdge Ratings

Road construction in India is expected to slow down by 7-10% in FY 2024-25, with daily construction dropping to 31 km from 34 km in FY 2023-24, due to challenges in execution. Delays in receiving appo

High temperatures help improve paddy quality

However, the heatwave has posed challenges for the production of rice-bran oil, with manufacturers facing a shortage of labor. Rice-bran oil is extracted from the hard outer brown layer of rice, known

Kazakhstan-Turkmenistan-Afghanistan discuss possible transport corridor to India & West Asia

Kazakhstan, Turkmenistan, and Afghanistan aim to bolster transit infrastructure, connecting with India via Iran's Chabahar Port. Key officials met in Kabul, stressing the need for traffic flow reorien

IMF flags a common link between India and China's growth stories as it revises Asia outlook

The report said that in China and India, public investment made a significant contribution supporting growth. "In emerging markets, growth was supported primarily by strong private demand. In China an

Export credit access may become easier amid geopolitical tensions

The government is evaluating ways to enhance export competitiveness by examining the export credit landscape. Seeking insights from exporters, it aims to address challenges and improve access to finan

Services exports may rise to $800 bn by 2030: Goldman Sachs report

Goldman Sachs predicts that India's services exports will rise to $800 billion by 2030, up from $340 billion in 2023. This growth is expected to make India's external sector more resilient to supply-s

India growth may top 7% in FY25: NCAER

The National Council of Applied Economic Research (NCAER) has suggested that India's economy could grow faster than 7% in the current financial year. Factors such as the projected acceleration in glob

Closing fake accounts in Govt schemes saved Rs 3.35 lakh cr

The government's efforts to eliminate fake beneficiaries from various schemes resulted in saving approximately ₹3.35 lakh crore between FY18 and FY24. The Department of Expenditure identified and ca

India's cash withdrawals from ATMs increase by 5.51% in FY24, CMS Infosystems report shows

A report by CMS Infosystems shows a 5.51% increase in monthly average cash withdrawals from ATMs in FY24, reaching Rs 1.43 crore. This growth highlights the continued reliance on cash transactions des

RBI directs lenders to review their lending practices in line with fair practice code

Some lenders are resorting to certain unfair practices in charging interest rates such as charged interest on loans from the date of sanctioning or execution of the loan agreement rather than from the

Indian economy on upward trajectory: NCAER's cites favorable above-normal monsoon forecast

The NCAER's April 2024 Monthly Economic Review (MER) highlights the Indian economy's robust performance, citing a 16-year high in the PMI for manufacturing and record UPI transactions. With positive g

RBI announces launch of 'inflation expectations' and 'consumer confidence' surveys for monetary policy inputs

The RBI has launched two new surveys, the 'Inflation Expectations Survey of Households' and the 'Consumer Confidence Survey,' ahead of its June monetary policy review. These surveys will gather insigh

Mytek launches new AI-based platform to help contractors deliver infra projects on time

In a bid to revolutionise project planning in the construction industry, Mytek Innovations has introduced a groundbreaking digital platform utilizing open AI tools. This innovative system streamlines