Latest Indian Economy News

Rising for the third straight session, equity benchmark Sensex closed higher by 123 points on Wednesday, propped up by robust fag-end buying in banking and financial stocks amid a bearish trend in global equity markets. Besides, covering-up of short positions by bears supported the late recovery in stocks, helped wipe off losses, traders said. However, [...]

The government is planning to create a carry over stock of ethanol for the next year anticipating a rise in demand for E20 fuel in the country, according to a senior food ministry official. E20 fuel is a blend of 20 per cent ethanol with petrol. The government aims to achieve the 20 per cent [...]

The Ministry of Power has mandated new coal or lignite-based thermal plants to either set up renewable energy capacity equivalent to at least 40 per cent of the thermal plant's capacity or procure that much supply of green energy under renewable purchase obligation. Earlier this month the power ministry amended the Tariff Policy 2016 under [...]

As part of a post-Budget Webinar, the Finance Ministry on Tuesday hosted virtual discussions on the six chosen subjects following an address by Prime Minister Narendra Modi. The webinar had six breakout sessions on various themes, including creating growth opportunities in GIFT International Financial Services Centre, facilitating seamless credit flow for MSMEs and enhancing customer [...]

Equity market opened sharply lower on Wednesday, with Sensex sliding more than 300 points as the US Federal Reserve's hawkish view on interest rate trajectory and weak global cues hit investor sentiments. Most of the Asian markets, including Hong Kong, were also trading in the negative territory. After registering gains for two straight sessions, the [...]

India's auto components industry is expected to grow around 10-15 per cent in FY24, driven by both domestic and export market demand despite fears of recession in major markets of US and Europe, Automotive Component Manufacturers Association of India said on Monday. The auto components industry which clocked a turnover of USD 56.5 billion in [...]

Benchmark indices Sensex and Nifty advanced for a second session in a row on Monday on gains in IT, banking and auto stocks following strong global trends. The 30-share BSE benchmark rose by 415.49 points or 0.69 per cent to close at 60,224.46 with 25 of its constituents ending in the green. The barometer opened [...]

Cash-strapped Pakistan is seeking Saudi Arabia's confirmation for securing additional deposits of USD 2 billion and a USD 950 million loan from the World Bank and the AIIB for signing a Staff-Level Agreement (SLA) with the IMF, media reports said on Monday. Pakistan is eagerly waiting for the USD 1.1 billion tranche of funding from [...]

The government is working to bring a national retail trade policy for brick and mortar retail traders with an aim to promote ease of doing business, a senior official said on Monday. Joint Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Sanjiv said that the policy would also help in providing [...]

Equity market opened on a strong note on Monday, with the benchmark crossing the 60,000 level and Nifty making strong gains amid positive global cues. BSE Sensex jumped 554.06 points or 0.91 per cent to 60,363.03 points, while the broader NSE Nifty climbed 143.35 points or 0.81 per cent to 17,737.70 points. As many as [...]

Cargo traffic at the country's major ports increased 11.79 per cent to 65.45 million tonnes in February from 58.55 million tonnes in the same month a year ago, according to Indian Ports Association (IPA). The positive growth in cargo traffic was recorded by all major ports except Visakhapatnam, Kamarajar and Chennai Ports, it said. India [...]

Equity investors became richer by Rs 3.43 lakh crore on Friday amid an overall positive trend in the market and the benchmark Sensex jumping nearly 900 points. The BSE Sensex zoomed 899.62 points or 1.53 per cent to settle at 59,808.97 points. During the day, the benchmark rallied 1,057.69 points or 1.79 per cent to [...]

The Sensex jumped nearly 900 points and the Nifty rallied over 272 points on Friday, bouncing back from the previous day's fall, following a positive trend in global equities and fresh foreign fund inflows. The BSE Sensex rallied 899.62 points or 1.53 per cent to end at 59,808.97 after starting the trade on a positive [...]

The World Bank and India on Friday signed two complementary loans of USD 500 million each to support and enhance the country's healthcare infrastructure. Through this combined financing of USD 1 billion (about Rs 8,200 crore), the bank will support India’s flagship Pradhan Mantri-Ayushman Bharat Health Infrastructure Mission (PM-ABHIM), launched in October 2021, to improve [...]

Apple phones would be built in a new 300-acre factory in Karnataka creating about one lakh jobs, according to Union Minister of State for Electronics and IT Rajeev Chandrasekhar and Chief Minister Basavaraj Bommai.            Apple phones to be built in a new 300-acre factory in Karnataka, tweeted Chandrasekhar.     [...]

The government is not considering any proposal as of now to increase the sugar export quota from the present 60 lakh tonnes for this marketing year ending September, Union Food Secretary Sanjeev Chopra said. The food ministry has allowed 60 lakh tonnes of sugar exports for the current 2022-23 marketing year (October-September). The country had [...]

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Friday said the state has received investment proposals worth Rs 13 lakh crore with an employment opportunity for six lakh people. Speaking at the inaugural session of the Global Investors Summit 2023 being held here, Jagan Mohan Reddy said the investment proposals are from Reliance, Adani [...]

With the presence of industry bigwigs such as Mukesh Ambani of Reliance Group, GM Rao of GMR Group, founder-chairman of Cyient BV Mohan Reddy, the Global Investors Summit 2023 "Advantage Andhra Pradesh" began here on Friday. The sprawling sports grounds of Andhra University is hosting the two-day meet, where about 200 stalls have been set [...]

The Indian services sector expanded at the strongest rate in 12 years in February supported by favourable demand conditions and new business gains, a monthly survey said on Friday. The seasonally adjusted S&P Global India Services PMI Business Activity Index rose from 57.2 in January to 59.4 in February -- its highest level in 12 [...]

Infosys founder N R Narayana Murthy on Thursday stressed that venture capital funds need to focus on profitability at startups as well, and warned that the focus on valuations is creating a "ponzi" scheme. Speaking at the annual Nasscom event here, Murthy said many startups are witnessing repeated rounds of funding at higher valuations, the [...]