Latest Indian Economy News

The United States’ becoming India’s largest trading partner is testament to the strengthening of bilateral ties between the two democracies, an Indian American Congressman said Tuesday. “The rapid growth of trade between the United States and India is a testament to the ties between our democracies growing stronger as our partnership increases both the prosperity [...]

Equity benchmark indices declined in initial trade on Wednesday, falling for the third day running, amid weak trends in IT counters and foreign fund outflows. Weak trends in global markets also added to the negative sentiments. The 30-share BSE Sensex fell 168.88 points to 59,558.13. The broader NSE Nifty declined 48.35 points to 17,611.80. Among [...]

The cultivation of rubber contributed to stamping out militancy and insurgency in the north eastern region of India and provided financial security to the people there, Minister of Commerce and Industry Piyush Goyal said on Tuesday. The Union Minister said that under the leadership of Prime Minister Narendra Modi, the Central government has been supporting [...]

The Bombay High Court on Tuesday rebuked the Serious Fraud Investigation Office (SFIO) for not completing its probe against Jet Airways founder Naresh Goyal and his wife in a case of an alleged Rs 7,000 crore fraud. A division bench of Justices Revati Mohite Dere and Sharmila Deshmukh expressed displeasure about the tardy pace of [...]

India's overall gem and jewellery exports grew marginally by 2.48 per cent to Rs 3,00,462.52 crore (USD 37,468.66 million) in 2022-23 due to global challenges like inflation, the Russia-Ukraine war and the lockdown in China for almost six months, GJEPC said on Tuesday. The total gem and jewellery exports during 2021-22 stood at Rs 2,93,193.19 [...]

Passenger vehicle leaders Maruti Suzuki India and Hyundai Motor saw their market share dip in FY23 as compared with FY22 as they struggled with shortage of electronic components, according to automobile dealers' body FADA. Tata Motors, Mahindra & Mahindra and Kia India on the other hand witnessed an increase in their market share based on [...]

Benchmark equity indices Sensex and Nifty closed lower for a second day on Tuesday as investors remained cautious amid disappointing earnings from IT majors TCS and Infosys. Fall in index major Reliance Industries, HDFC Bank and ICICI Bank and fresh foreign fund outflows also dented sentiment. Reversing its early gains, the 30-share BSE Sensex fell [...]

India's sugar production fell 6 per cent to 311 lakh tonnes till April 15 of the 2022-23 marketing year ending September, mainly due to lower output in Maharashtra, according to industry body ISMA. The sugar marketing year runs from October to September. Sugar output stood at 328.7 lakh tonnes in the corresponding period of the [...]

Healthy investments, innovation and integration with value chains will help India's textiles and apparel sector to register healthy growth in manufacturing and exports, AEPC said on Tuesday. Newly appointed secretary general of the Apparel Export Promotion Council (AEPC) Mithileshwar Thakur said the focus should be on building scale, skill and technology besides diversification of products [...]

The Centre has asked states and Union territories to take steps to mitigate the adverse effects of extreme hot weather on workers in different sectors. "Ministry of Labour and Employment has asked all States and UTs to ensure preparedness and effective management of the impact of ensuing heat wave conditions on workers and labourers working [...]

Passenger traffic at Bangalore airport jumped 96 per cent to 31.91 million in FY2022-23 compared to 16.28 million in the previous year, the private airport operator announced on Tuesday. Domestic traffic grew 85.2 per cent to 28.12 million in FY23 against 15.18-million in FY22 while international traffic rose over three-fold to 3.78 million during the [...]

More than 95 per cent of prospective homebuyers feel that a further increase in interest rate on home loans will affect their purchase decisions, according to a CII-Anarock survey. A total of 4,662 people participated in the survey carried out jointly by industry body CII and real estate consultant Anarock. The report 'The Housing Market [...]

Continued government push to build infrastructure will drive cement demand further this fiscal by 8-9 per cent on top of a 9 per cent growth in FY22, which will help the sector see some recovery in profitability, a report said. According to India Ratings, which has a neutral outlook for the sector for the year, [...]

With software exports hitting a record high of USD 320 billion in FY23, the country's share in global computer services exports has jumped to around 11 per cent in the year, according to an analysis. But the country still lags in the overall services export share at about 4 per cent, according to analysis of the [...]

As many as 76 key infrastructure projects worth about Rs 5.14 lakh crore of different ministries have been evaluated under the PM Gati Shakti initiative in the last one year, a senior official said on Monday. These projects have been recommended by the Network Planning Group (NPG) constituted under the PM Gati Shakti initiative launched [...]

The dispute panel of the Geneva-based World Trade Organisation (WTO) on Monday said the import duties imposed by India on certain informational and technology products violates global trading norms. The ruling followed a dispute filed by the European Union, Japan and Taiwan against these duties in the WTO. "We recommend that India bring such measures [...]

Union Minister Nitin Gadkari on Monday called for active support from states and UTs to strengthen policies and strategies for the transformation of the road transport sector, according to an official statement. The Union road transport and highways minister chaired a meeting of transport ministers from all states and Union Territories (UTs) to discuss various [...]

Equity benchmark indices rebounded in early deals on Tuesday after falling sharply in the previous trade amid strength in the US markets. The 30-share BSE Sensex climbed 202.72 points to 60,113.47 in early trade. The broader NSE Nifty gained 59.75 points to 17,766.60. Among the Sensex firms, Tata Motors, HCL Technologies, IndusInd Bank, Maruti, Nestle, [...]

Inflow in gold exchange-traded funds (ETFs) dropped 74 per cent year-on-year to Rs 653 crore in 2022-23, mainly due to profit booking in this asset class and investors' preference for equities. However, the asset base of gold ETFs and investors' account or folio numbers increased in the last fiscal, data from the Association of Mutual [...]

Private equity and venture capital funds' investments declined by 4 per cent to USD 5.3 billion in March 2023 as against the year-ago period, a report said on Monday. In terms of number of deals, there were only 82 transactions in March 2023 as against 125 in the year-ago period, as per the report by [...]