Latest Indian Economy News

The major equity indices maintained their upward trend in Tuesday's early trade, rising for the eighth straight day, with the Nifty reaching a new all-time high. The strong rise in equity in initial agreements was also aided by a generally firm trend in global markets and recent foreign capital inflows. The 30-share BSE Sensex climbed [...]

On Monday, India and the UK reaffirmed their commitment to hastening the conclusion of their free trade agreement (FTA). Finance Minister Nirmala Sitharaman and UK Chancellor of the Exchequer Jeremy Hunt both expressed a desire to move the free trade agreement along during a joint press conference. "There is definitely some discussion on the FTA...the [...]

A trade group for the mutual fund industry reported on Monday that investors poured in a record Rs 15,813 crore in August via the systematic investments plans (SIPs) route provided by mutual fund players. The income- or debt-oriented schemes saw a net outflow of Rs 25,872 crore in August, according to the Association of Mutual [...]

According to SteelMint, In January-June 2023 India has produced 66.14 MT crude steel, reporting a 5 per cent YoY growth and the uptrend is likely to continue in second half of the year as well. The research firm said that 63 million tonnes of crude steel produceed by the domestic industry in January-June Period of [...]

On Monday, investors' optimism in the local markets helped equity benchmark indices extend their rally for the seventh straight day. Buying in key indexes The winning streak in the stock market was also boosted by Reliance Industries and Tata Consultancy Services. The 30-share BSE Sensex jumped 293.7 points to 66,892.61 in early trade. The Nifty [...]

On Friday, the index heavyweights HDFC Bank, Larsen & Toubro, and Reliance Industries all saw their shares rise, helping the benchmark BSE Sensex increase its gains by another 333 points and extend its winning streak to six sessions in a row. The BSE Sensex increased 333.35 points or 0.50 per cent to close at 66,598.91, [...]

On Thursday equity benchmark Sensex jumped over 385 points to reclaim the 66,000 mark, propelled by strong buying in index majors HDFC Bank, L&T and SBI amid a weak trend in global equities. Trader said a decline in crude oil prices in the international market also supported the domestic equities. The BSE Sensex gained for [...]

India has removed additional duties on about half a dozen US products, including chickpeas, lentils and apples, which were imposed in 2019 in response to America's decision to increase tariffs on certain steel and aluminum products. India had imposed these duties on 28 US products in 2019 in retaliation to the US' move. The finance [...]

On Wednesday British Prime Minister Rishi Sunak said there was “still some way to go” for a free trade pact with India to be finalised, but appeared confident that the final outcome will be a "forward-looking" and "modern" deal that would benefit both sides and facilitate shared ambition of doubling trade by 2030. The first [...]

On Wednesday, buying in HDFC Bank and an overall robust trend in Asian markets led equity benchmark indices to conclude in the green. Fag-end buying helped the BSE Sensex gained 100.26 points or 0.15 per cent to settle at 65,880.52. During the day, it had declined 292.23 points or 0.44 per cent to 65,488.03. The [...]

On Wednesday Information and Brodcating Minister Anurag Thakur said that The Union Cabinet approved a Rs 3,760 crore viability gap funding for setting up battery energy storage system in the country. The entire Rs 3,760 crore viability gap funding will be borne by the central government, the minister said while briefing media about the Cabinet [...]

India added the highest number of mobile subscribers across the world in the June 2023 quarter, Swedish telecom gear maker Ericsson said in a report on Tuesday. According to Ericsson Mobility Report, the number of mobile subscriptions totalled 8.3 billion, with a net addition of 40 million subscriptions during the quarter. The report said India [...]

Shaktikanta Das, the governor of the Reserve Bank, stated on Tuesday that the central bank is dedicated to getting inflation down to 4 per cent and would continue to monitor risks since more frequent global supply shocks might have a significant impact on the management of the price situation. Delivering a lecture at the Delhi [...]

India's power consumption is approximately 40–50 GW higher than it was on the same day last year, according to Union Power Minister R K Singh, who on Tuesday assessed the rate of economic growth in the nation in terms of the rise in electrical demand. Addressing a day-long conference on 'Green Hydrogen Pilots in India' [...]

In spite of a bearish trend in global markets, the equity benchmark indices Sensex and Nifty closed higher on Tuesday for the third straight day thanks to increases in market giants ITC, Reliance Industries, and Infosys. Traders said that Besides, robust domestic macroeconomic data added to the positive momentum. The BSE benchmark index jumped 152.12 [...]

On Monday following encouraging domestic macroeconomics data amid a firm trend in the global market, benchmark equity indices Sensex and Nifty rallied for the second straight session. Traders said that fresh foreign fund inflows and intense buying in IT and commodity stocks also bolstered sentiment. The BSE benchmark Sensex jumped 240.98 points or 0.37 per [...]

In August of this year, the nation's power consumption increased by over 16% to 151.66 billion units compared to that of the same month last year, primarily as a result of increased use of cooling equipment during the hot weather. According to the government data, In the year-ago period, power consumption stood at 130.39 billion [...]

Experts have stated that the Indian Toy Industry can receive a boost to its economy by enhancing manufacturing capabilities and exports through the help/ expertise of G20 member nations like the USA and China.  Toy Association of India (TAI) Chairman Manu Gupta said the G20 presidency with India provides an opportunity to showcase India as [...]

Moody's Investors Service on Friday raised India's growth projection for 2023 calendar year to 6.7% citing upside to growth performance helped up robust underlying economic momentum. In the Global Macro Outlook 2023-24 (August update), Moody's said strong services expansion and capital expenditures have propelled India's 7.8% real GDP growth in the second (April-June) quarter from [...]

India Inc's credit metrics are likely to show further improvement in the September quarter, a domestic rating agency said on Friday. The recent trends in softening of commodity prices, price hikes by companies, and anticipation of a favourable demand are the factors helping the industry, Icra Ratings said. The interest coverage is likely to improve [...]