Latest Indian Economy News

Almost 70 per cent of business executives in India plan to integrate the metaverse into their organisational activities, said a report by PwC India. Though the term metaverse spans a wide spectrum of definitions, it mainly denotes a digital environment with a virtual world that mimics reality through the use of emerging technologies such as [...]

Sugar industry body ISMA has revised downwards the country's sugar production estimate to 328 lakh tonnes for the current marketing year ending September, from an earlier projection of 340 lakh tonnes. The downward revision has been made due to a fall in sugar output in Maharashtra to 105 lakh tonnes in the 2022-23 marketing year [...]

Equity benchmarks Sensex and Nifty closed higher for the second straight session on Tuesday, helped by buying in power and utility stocks amid positive quarterly numbers announced by heavyweight companies. However, foreign fund outflows and a muted trend in global equities capped the gains, traders said. In a highly volatile trade, the 30-share BSE Sensex [...]

RBI Governor Shaktikanta Das, in the rate-setting panel meeting earlier this month, opined that the cumulative impact of the monetary policy actions over the last one year is still unfolding and needs to be monitored closely, as per the MPC minutes released on Thursday. Das, along with the five other members of the Monetary Policy [...]

India's quick service restaurant industry is likely to witness 20-25 pc growth in the current financial year supported by demand uptick and increasing penetration driven by a rapid expansion of stores. Over the long-term, revenue growth shall be supported by factors like rising QSR penetration levels, a shift from the unorganised to the organised segment [...]

Market benchmark indices Sensex and Nifty ended with marginal gains on Thursday after falling in the past three days, helped by fag-end buying in energy, telecom and utility stocks. Investors remained cautious amid renewed foreign fund outflows and prevailing risk-off sentiments, traders said. In a highly volatile trade, the 30-share BSE Sensex climbed 64.55 points [...]

GST evasion detection by tax officers almost doubled year-on-year to over Rs 1.01 lakh crore in the just concluded 2022-23 fiscal, an official said. During the last fiscal, a recovery of Rs 21,000 crore was made by the officers of the Directorate General of GST Intelligence (DGGI). The official said the government is taking steps [...]

Intellectual property theft, information and cyber security threats and accidents have been ranked as the top three threats in India by the industry in a risk survey, according to a FICCI report. Also, 'threat to women safety' risk has jumped from 12th place in 2021 to 5th place in 2022 India Risk Survey, the report [...]

Market benchmark indices bounced back in early trade on Thursday after falling in the past three days, amid buying in recently hit banking and IT counters. The 30-share BSE Sensex climbed 210.49 points to 59,778.29 in early trade. The broader NSE Nifty advanced 56.35 points to 17,675.80. Among the Sensex firms, Titan, Larsen & Toubro, [...]

The government is planning to develop more than 250 projects with a ropeway length of over 1,200 km in five years under Parvatmala Pariyojana, Union minister Nitin Gadkari said on Wednesday. The government is promoting the manufacturing of ropeway components under the 'Make in India' initiative, an official release quoted Gadkari as saying. The minister [...]

The Ministry of Road Transport and Highways (MoRTH) has put plans in place to maintain the pace of highway development and construct 12,500 km of highways in the current financial year, a senior official on Wednesday said. Alka Upadhyaya, Secretary, MoRTH, said Rs 10,000 crore is planned to be raised through Infrastructure Investment Trusts (InvITs) [...]

State-owned NHAI is working towards development of around 10,000 kilometres of Optic Fibre Cables (OFC) infrastructure across the country by FY2024-25, according to an official statement. The statement said National Highways Logistics Management Limited (NHLML), a fully-owned special purpose vehicle of NHAI, will implement the network of "digital highways" by developing integrated utility corridors along [...]

Continuing healthy demand from construction, real estate and automobile sectors will help the paint sector register a 10-12 per cent revenue growth this fiscal against an 18 per cent estimated rise in the just-concluded fiscal, according to a report. Volume expansion and the resultant cash generation will help paint companies maintain healthy balance sheets, which [...]

Benchmark equity indices Sensex and Nifty ended lower on Wednesday, marking their third straight day of losses due to selling in IT and select banking shares and foreign fund outflows. Falling for a third day, the 30-share BSE Sensex declined 159.21 points or 0.27 per cent to settle at 59,567.80. During the day, it fell [...]

Inflows in the mutual fund industry through systematic investment plans or SIPs reached Rs 1.56 lakh crore in 2022-23, up 25 per cent from the preceding fiscal, suggesting retail investors' trust in the route despite volatility in the markets. In comparison, an inflow of Rs 1.24 lakh crore through the route was registered in 2021-22 [...]

Edible oils body SEA on Wednesday said crude sunflower and soyabean oil shipments are held up at ports due to customs clearances issues and requested the government to address the matter immediately, else it may lead to shortages and rise in retail prices. The government had permitted tariff rate quota (TRQ) during the 2022-23 financial [...]

The government has brought back the windfall profit tax on domestically produced crude oil after international prices firmed up while the levy on export of diesel has been cut to nil, according to an official order. The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) is now Rs [...]

Debt-ridden Pakistan has shared its plan with the IMF to secure an additional USD 3 billion to meet the mandatory financing assurances laid by the global lender for it to release the country's stalled bailout plan, it emerged on Wednesday. The Washington-based global lender had asked Pakistan to arrange USD 6 billion in external financing [...]

HP India on Tuesday said the PC market is recovering now, and higher demand is expected to come in the next six months compared to the traction the company received in the last six months. HP India senior director for personal systems Vickram Bedi said the base of personal computers has increased compared to the [...]