Latest Indian Economy News

Private equity investment in real estate remained stable in the last fiscal at USD 4.2 billion, of which 22 per cent contribution came from domestic investors, according to Anarock. Delhi-NCR market received 32 per cent of the total investment, while office assets garnered 40 per cent of inflows. Foreign investors' contribution stood at more than [...]

Many of India’s proposals have been well supported by the G20 bloc and there has been an active engagement, Union Finance Minister Nirmala Sitharaman said after a series of meetings with her counterparts from the influential grouping here. India assumed the year-long presidency of the G20 in December last year and aims to host a [...]

Investment in the Indian capital markets through participatory notes dropped to Rs 88,398 crore month-on-month in February amid higher valuation of domestic markets. This was the third consecutive monthly decline in the investment level. Before this, investment through the route had been on an increasing trend since July 2022 because of a slump in the [...]

The government is planning to introduce bills to amend the companies and insolvency laws during the monsoon session of Parliament, a senior official said on Thursday. The session is likely to commence in late July or August. The corporate affairs ministry is implementing the Companies Act and the Insolvency and Bankruptcy Code (IBC). According to [...]

The country's exports rose by about 6 per cent to a "record" USD 447 billion during 2022-23 on account of healthy growth in the outbound shipments of sectors such as petroleum, pharma and chemicals and marine, Commerce and Industry Minister Piyush Goyal said on Thursday. The country's imports also grew by 16.5 per cent to [...]

India is not seeking permanent immigration visas from any country under a free trade agreement (FTA) and is only looking to engage with trading partners on mobility like temporary visas for students, Commerce and Industry Minister Piyush Goyal said on Thursday. He said that some people mix up mobility and immigration but they are two [...]

Benchmark equity indices Sensex and Nifty ticked higher for the ninth straight session on Thursday, buoyed by fag-end buying in banking, financial and realty stocks amid encouraging domestic retail inflation data. Weak trends in IT counters and fall in the overnight US equity markets triggered by fresh concerns over recession, however, put a check on [...]

India Inc is likely to report a halving of revenue growth in the fourth quarter of FY23, a credit rating agency said on Thursday, as companies start reporting their financials. The revenue growth will come down to 10-12 per cent as against 22.8 per cent for the January-March period in the year-ago, Crisil's Market Intelligence [...]

The Reserve Bank of India on Wednesday proposed to prohibit capitalisation of penal charges and additional interest levied by banks on customers for loan defaults, in a bid to streamline divergent practices followed by lenders. The quantum of penal charges should be proportional to the defaults/non-compliance of material terms and conditions of loan contract up [...]

With the doubling of smartphone exports from India to over USD 11 billion, the country is on its way to become global leader in the mobile devices segment, Union minister Ashwini Vaishnaw said on Wednesday. Mobile phone exports from India reached close to USD 11.12 billion with iPhone maker Apple accounting for around half of [...]

Finance Minister Nirmala Sitharaman said on Wednesday that there is a need to augment present global efforts, including those of the G-20 to address growing debt distress across the globe, as she stressed on debt transparency and information-sharing on this issue. Sitharaman made the remarks at a Global Sovereign Debt Roundtable meeting which was also [...]

Benchmark indices declined in initial trade on Thursday after eight days of rally amid weak trends in the US equity markets triggered by fresh concerns over recession. IT counters took a beating in the morning trade which resulted in weak trend in the benchmark indices. The 30-share BSE Sensex fell 164.66 points to 60,228.11 in [...]

India's industrial production growth rose marginally to 5.6 per cent in February from 5.5 per cent in January 2023, mainly due to good performance of the power, mining and manufacturing sectors, according to official data released on Wednesday. There was an improvement on an annual as well as sequential basis. The factory output growth measured [...]

The government is in the process of developing a portal for monitoring and expediting clearances for newly allocated coal blocks, Coal Secretary Amrit Lal Meena said on Wednesday. The secretary along with Additional Coal Secretary and Nominated Authority M Nagaraju held an interaction with the representatives of captive and commercial coal block allottees to discuss [...]

India has retained the Category I status under the Federal Aviation Administration's international aviation safety programme, regulator DGCA said on Wednesday. FAA under its International Aviation Safety Assessment (IASA) programme determines whether a country's oversight of its air carriers that operate or seek to operate, into the US or codeshare with a US air carrier [...]

External Affairs Minister S Jaishankar has said the Russia-Ukraine war has prompted India, the world's biggest importer of edible oil, to look for alternative sources of sunflower oil in Latin American countries. Addressing a business event here in the Ugandan capital on Tuesday, Jaishankar said India was a big importer of sunflower oil from Ukraine [...]

India is expected to have a stable debt-to-GDP ratio going forward, a senior official from the International Monetary Fund said on Wednesday and recommended rationalization and simplification of Goods and Services Tax (GST). According to Paolo Mauro, Deputy Director of the IMF Fiscal Affairs Department, there will be a gradual resumption of the rise in [...]

The government's decision to limit prices of domestic natural gas from legacy fields to between USD 4-6.5 per million British Thermal Unit (mmbtu) will support margins for city gas distributors, encourage the use of gas, and reduce cash flow volatility for upstream producers, Fitch Ratings said on Wednesday. "We expect a partial pass-through of the [...]

Sugar trade body AISTA on Wednesday demanded that the government should increase the minimum selling price of sugar as the sweetener is being sold at lower than the cost of production in the country. Minimum selling price of sugar has been kept unchanged at Rs 3,100 per quintal since 2019 even though the fair and [...]