Latest Indian Economy News

Equity benchmarks Sensex and Nifty extended rally for the eighth straight session on Wednesday, propelled by intense buying in IT, healthcare and auto stocks amid sustained foreign fund inflows. A strengthening rupee and positive opening in European markets further bolstered sentiment, traders said. Industrial Production data for February and March inflation rates are scheduled to [...]

Top global retailers from the US and Europe have shown keen interest in sourcing goods from Indian toy manufacturers and hand-hold them to meet their compliance requirements, a government official said. The official said these retail giants are looking to procure toys from India at a good scale. The Department for Promotion of Industry and [...]

Insurance regulator Irdai has given licence to a General insurer for the first time since 2017, close on the heels of allowing two more applicants in the Life space and is looking at around 20 more applications, its Chairman Debasish Panda said on Wednesday. The latest to get the licence is Kshema General Insurance and [...]

The domestic aviation industry continues to witness recovery with air passenger traffic logging around 60 per growth at 13.60 crore in FY23 annually, ICRA said on Wednesday. Despite this, domestic air passenger traffic remained around 4 per cent below the pre-pandemic (FY20) volume of 14.15 crore, the credit rating agency said. The Indian carriers had [...]

Keshub Mahindra, a pioneer of Indian auto industry and Mahindra & Mahindra Ltd Chairman Emeritus, died on Wednesday morning in Mumbai due to old age. Mahindra, 99, breathed his last on Wednesday morning at home peacefully, said a person close to the family. He had led the Mahindra Group for 48 years as Chairman and [...]

Trade ministers of India and France have held discussions related to the ongoing talks for a free trade agreement between India and the European Union, the commerce ministry said on Wednesday. Commerce and Industry Minister Piyush Goyal was here to attend India-France Business Summit and CEOs roundtable meet. He held bilateral meetings with several CEOs [...]

Government incentives, including those to consumers, local battery manufacturing, state-level subsidies and cut in GST rates would help drive EV penetration in India, Moody's has said. In a report, Moody's Investors Service said India has the fourth-largest car market globally, but electric vehicle (EV) penetration is currently only around 1 per cent. The pace of [...]

The International Monetary Fund (IMF) on Tuesday lowered India's economic growth projection for the current fiscal to 5.9 per cent from 6.1 per cent earlier. Yet India will continue to be the fastest-growing economy in the world. In its annual World Economic Outlook, IMF also lowered the forecast for 2024-25 fiscal (April 2024 to March [...]

Union Finance Minister Nirmala Sitharaman on Tuesday had a meeting with her counterpart from Saudi Arabia Mohammed Aljadaan during which they discussed the global debt crisis and strengthening of the multilateral development banks, an Indian initiative under its G-20 presidency. "H.E. Minister Nirmala Sitharaman and I discussed the #G20 agenda, and the progress made," Aljadaan [...]

The IMF has lowered its forecast for Pakistan’s economic growth rate from 2 per cent to just 0.5 per cent for the current fiscal year, amid high inflation and a growing unemployment rate in the cash-strapped country. This showed an unambiguous deterioration of economic fundamentals over the last six months since October when the IMF [...]

India offers a predictable, stable and business-like environment which is one of the major factors for foreign companies to invest in the country, a top Indian industrialist has said as he underscored the need for labour reforms. Alok B Shriram, CEO of manufacturing company DCM Shriram Industries, who is in the US as part of [...]

Stock market benchmark indices climbed in early trade on Wednesday, extending their rally for the eighth day running, following strength in most of the Asian equity exchanges and continuous foreign fund inflows. Also, buying in index majors Reliance Industries, HDFC twins and Tata Consultancy Services added to the positive trend in the equity market. The [...]

The International Energy Agency (IEA) on Tuesday termed the decision of OPEC+ to cut oil production as "risky for the global economy", saying it may push up already high prices, leading to higher import bills for nations like India. Global oil markets were already set to tighten in the second half of 2023, with the [...]

To check irregular movement in stock prices, Sebi on Tuesday came out with a new framework for fixing the price band for trading in shares on the first day of listing after an initial public offering. The decision has been taken after discussions with stock exchanges and Sebi's Secondary Market Advisory Committee (SMAC), according to [...]

Securitisation volumes jumped 41 per cent to Rs 1.78 lakh crore in FY23, driven largely by the retail segment, a report said on Tuesday. The last quarter of the fiscal alone contributed volumes of over Rs 61,000 crore, domestic rating agency Icra said. Securitisation involves pooling of loans and selling them to a special purpose [...]

Equity investors became richer by over Rs 12.56 lakh crore in seven days of market rally as sentiments remained firm amid continuous foreign fund inflows and stable global trends. In the past seven days, the BSE benchmark Sensex has jumped 2,544 points or 4.41 per cent. Helped by the ongoing rally, the market capitalisation of [...]

Nationalist Congress Party (NCP) president Sharad Pawar on Tuesday said although his outfit does not agree with the demand of anti-BJP parties for a Joint Parliamentary Committee (JPC) probe into allegations against the Adani group, it will not go against their stand for the sake of Opposition unity. The former Union minister had earlier said [...]

Private equity inflows plunged 75.4 per cent to USD 2.2 billion in the March quarter, making it the sixth consecutive quarter of decline, amid global macroeconomic and geopolitical headwinds, according to a report. At USD 2.2 billion of inflows, this is the lowest private equity investment in the country since 2018, when it stood at [...]

Equity benchmark Sensex climbed over 310 points to reclaim the 60,000 mark on Tuesday, propelled by robust buying in metal, bank and financial stocks amid a firm trend in global equities and continuous foreign capital inflows. Rising for the seventh straight session, the 30-share BSE Sensex rose 311.21 points or 0.52 per cent to finish [...]

A unified portal of the Central Bureau of Narcotics(CBN) will instil efficiency and transparency and reduce the time taken by the pharma industry to get trade licence, the finance ministry said on Tuesday. Revenue Secretary Sanjay Malhotra on Tuesday launched the unified portal of the CBN. CBN is a central government organization dealing with the [...]