Latest Indian Economy News

Equity benchmark Sensex on Friday rallied around 556 points, logging its best single day in two months, while Nifty closed above the 19,400 level on value-buying in power, metal and oil stocks following strong domestic macro data and global cues. The BSE barometer closed higher by 555.75 points or 0.86% at 65,387.16 with 26 of [...]

On Friday Revenue Secretary Sanjay Malhotra said that the GST revenues for August 2023 have shown a growth of 11 per cent year on year due to increased compliance and less evasion. The collection from Goods and Services Tax (GST) was Rs 1,43,612 crore in August 2022. "Roughly numbers are in the range of 11 [...]

India recorded an economic growth rate of 7.8% in the April-June quarter of 2023-24 and remained the fastest growing large economy mainly due to better performance by agriculture and financial sectors, government data showed on Thursday. The Gross Domestic Product (GDP) expanded by 13.1% in the April-June quarter of 2022-23. India remained the fastest-growing major [...]

Benchmark Sensex closed lower by around 256 points in a volatile trade on Thursday, snapping its three-day gaining streak due to selling in banking, FMCG and oil and gas shares amid weak Asian cues. The BSE barometer fell by 255.84 points or 0.39% to close at 64,831.41 points with 22 of its constituents ending in [...]

On Wednesday, the government said that it has approved the export of 1.43 lakh tonnes of non-basmati white rice to Singapore, Mauritius, and Bhutan. The export is permitted through National Cooperative Exports Limited (NCEL), the Directorate General of Foreign Trade (DGFT) said in a notification. Although non-basmati white rice exports were prohibited on July 20 [...]

With an aim to protect investors' interest and the integrity of the capital markets, SEBI has notified a new framework prohibiting listed entities, with more than 200 non-QIB (qualified institutional buyer) holders of non-convertible debt securities, from delisting voluntarily. Under the new rule, the listed entity will have to obtain permission from all holders of [...]

Equity benchmark indices climbed on Monday after two days of fall, tracking strength in global markets and buying in HDFC Bank. Sensex climbed 110.09 points or 17 bps to settle at 64,996.60. During the day, it jumped 326.94 points or 50 bps to 65,213.45. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,638.21 crore on [...]

Solar capacity addition in the country declined 58% to 1.7 GW in the Q1 FY2023 period, mainly due to land and transmission-related issues, Mercom India said on Monday. Mercom India is based in Bangalore and is a subsidiary of US based Mercom Capital Group, a leading clean energy consulting firm recognized globally for its clean [...]

The EU on Saturday voiced concerns over the "rapid" rise in refined petroleum products made from Russian crude oil in India finding its way to the European market, saying it defies the purpose of the sanctions against Moscow that are aimed at reducing its ability to finance the war with Ukraine. According to Valdis Dombrovskis, [...]

In the last four days, the National Cooperative Consumers' Federation of India (NCCF) reported buying 2,826 tonnes of onions directly from farmers at a cost of Rs 2,410 per quintal, primarily from Maharashtra as it resumed buying the bulb for a larger buffer stock. The government enhanced the onion buffer stock target from 3 lakh [...]

An ownership stake in a foreign company or project is referred to as a foreign direct investment (FDI) and is made by a foreign investor, business, or government. According to data from the government, FDI in India fell 34% to USD 10.94 billion between April and June of this fiscal year. According to information provided [...]

According to Ajay Mathur, Director General of the International Solar Alliance (ISA), India is on track to not only meet but also surpass its ambitious goal of 500 gigawatts of renewable energy capacity by 2030, because of a predicted drop in battery prices by 2025. In an interview with PTI, Mathur, who has also served [...]

Benchmark Sensex declined by 365 points and Nifty settled below the 19,300 level in a volatile trade on Friday as financials, IT and oil shares took a hit amid concerns over potential rate hikes and weak trend in global markets. Falling for a second day in a row, the BSE Sensex closed lower by 365.83 [...]

Brazilian aircraft maker Embraer sees a good opportunity to partner with India to develop a strong aerospace industry in both countries by synergising their strengths, company President and CEO Francisco Gomes Neto said on Friday. The challenges in the global supply chain brought by the pandemic also bring about opportunities to develop new partnerships in [...]

Finance Minister Nirmala Sitharaman on Thursday said the government is aiming to make India a global hub for the production, utilisation and export of green hydrogen. Speaking at the launch of HSBC India’s strategic partnerships towards enabling innovation in Green Hydrogen, the minister said the government is focused on driving green growth through a range [...]

Maharashtra Deputy Chief Minister Devendra Fadnavis on Thursday said JERA Co Inc, Japan's largest power generation company, has expressed a strong desire to explore investment and partnership opportunities with the state government in areas of green hydrogen, ammonia, Renewable Energy and liquefied natural gas (LNG). The deputy CM, who is on a visit to Japan, [...]

India's G20 Sherpa Amitabh Kant on Friday said geopolitical conflicts like the Russia-Ukraine war are best addressed by the United Nations as the G20 is an economic body to promotes global growth. Speaking at B20 Summit India 2023 being organised by CII, Kant however expressed hope that India would be able to convince G20 nations [...]

Artificial intelligence will create more jobs in India as it will empower more people with little skill or no skill to perform higher-level jobs, B20 India Chair N Chandrasekaran said on Friday. In a panel discussion at the B20 Summit India 2023 here, Chandrasekaran, who is also the Chairman of Tata Sons, said India has [...]

Commerce and Industry Minister Piyush Goyal on Thursday exuded confidence that the G20 ministers of trade and investment would be able to reach a broad consensus on all trade-related issues at the two-day meeting here. Representatives of the G20 countries have gathered here for the two-day trade and investment ministerial meeting. They are deliberating on [...]

Finance Secretary T V Somanathan on Thursday said India will continue to clock the highest growth rate among the top five economies in the world in the foreseeable future and asked the Indian diaspora to act as a catalyst and supplement government efforts in making India the biggest opportunity. India is currently the fifth-largest economy [...]