Latest Indian Economy News

The Adani Group's entry into Israel through its strategic acquisition of the Haifa port will turn this northern coastal Israeli city into a strong and exciting Mediterranean hub, the city's mayor said on Tuesday. A consortium of Adani Ports and Special Economic Zone (APSEZ) and Israel's Gadot Group won the tender in July last year [...]

India has become the third-largest aviation market in the world and is growing rapidly, with the number of airports increasing to 147 from just 74 in 2014, President Droupadi Murmu said on Tuesday. She also said the Indian Railways is emerging as a modern institution and many inaccessible areas are being added to the rail [...]

Capital expenditure has started pushing private investment and the Budget target of Rs 7.5 lakh crore for the current financial year is likely to be met, the Economic Survey 2022-23 said. The capital expenditure (capex) of the central government which increased by 63.4 per cent year-on-year in the first eight months of FY23 was another [...]

India's solar module manufacturing capacity is expected to reach approximately 95 GW by the end of 2025, according to Mercom Capital. The solar module manufacturing capacity as of September last year was 39 gigawatt (GW), the research firm said in its latest report. "India's solar module manufacturing capacities announced...39 GW at the end of September [...]

Haryana's annual budget for 2023-24 will focus on promoting exports from the state, millet products and creating employment opportunities for the youth, chief minister Manohar Lal Khattar said on Monday. "By promoting exports, foreign exchange will come into the country and the economy of the state will be strengthened," he said while addressing the pre-budget [...]

The International Monetary Fund (IMF) on Tuesday said it is expecting some slowdown in the Indian economy next fiscal year and projected the growth to 6.1 percent from 6.8 percent during the current fiscal ending March 31. The IMF on Tuesday released the January update of its World Economic Outlook, according to which the global [...]

Inflation in India is expected to come down from 6.8 percent in the current fiscal year ending March 31 to 5 percent the next fiscal, and then drop further to 4 percent in 2024, the International Monetary Fund (IMF) said on Tuesday. “Inflation in India as in other countries is expected to come down from [...]

Equity benchmarks declined in initial trade on Tuesday amid an overall weak trend in the global markets as investors adopted a cautious approach ahead of the Union Budget presentation and interest-rate decision from the Federal Reserve. Also, continuous foreign funds outflow played spoilsport for the markets. The 30-share BSE benchmark Sensex declined 203.74 points to [...]

With Finance Minister Nirmala Sitharaman getting ready to present the last full budget of the Modi 2.0 government, expectations are high that she will meet the demands of all stakeholders, including the common man who is reeling under the price rise. The finance minister has held several rounds of discussions with various stakeholders, and final [...]

Capital markets regulator Sebi on Monday cancelled the registration of three entities -- Kaynet Capital, Kaynet Commodities and Kaynet Finance -- as stock brokers for not meeting the conditions required under intermediaries rules. In addition, the Securities and Exchange Board of India (Sebi) has cancelled the registration of Kaynet Capital as depository participant. Irrespective of [...]

Telecom players have started rolling out 5G services in select pockets but backhaul infrastructure will cost Rs 3 lakh crore over the next 4-5 years, according to ICRA. ICRA noted consistent "healthy improvement" in operating metrics of telcos but added that debt levels continue to remain high and seen at around Rs 6.3 lakh crore [...]

Unsold housing stocks dropped 10 per cent to 4,61,600 units across nine major cities at the end of the December on better sales, PropEquity said on Monday. According to its data, unsold housing inventories stood at 5,12,526 units at the end of the September quarter across these nine cities. "Despite many challenges ...home sales strongly [...]

Benchmark BSE Sensex and Nifty closed higher in a highly volatile trade on Monday, riding on the back of a recovery in IT, oil and financial stocks after a two-day fall. The 30-share Sensex recovered 169.51 points or 0.29 per cent to settle at 59,500.41. During the day, it rose by 313.34 points or 0.52 [...]

The first G20 Energy Transition Working Group(ETWG) meeting under India’s presidency will be organised in Bengaluru from February 5-7 wherein nine special invitee nations including Spain, the Netherlands and Singapore will take part. The meeting will have over 150 participants including G20 member countries, nine special invitee guest nations – Bangladesh, Egypt, Mauritius, the Netherlands, [...]

Senior executives in India are expected to receive an average 9.1 per cent increase in their salaries this year, up from 8.9 per cent in 2022. According to leading global professional services firm Aon plc, the average CEO compensation was Rs 8.4 crore, and it has increased 21 per cent in the last four years, [...]

Retail commodity packages containing more than one pack, including gift and multi-piece packs, are required to mention all mandatory declarations including MRP, on the outer pack, according to the Consumer Affairs Ministry. In the latest directive, the ministry said, "It is observed that the mandatory information is not declared on a retail package containing more [...]

More than nine lakh vehicles, owned by central and state governments, transport corporations and public sector undertakings, that are older than 15 years will go off the road from April 1 and new vehicles will replace them, Union minister Nitin Gadkari said on Monday. Addressing an event organised by industry body FICCI, Gadkari said the [...]

The government has given six months more time till July 15 to edible oil makers, packers and importers to mention net quantity in terms of volume and weight on the labels instead of temperature at the time of packing, as part of efforts to curb unfair business practices. Earlier, the entities were given the deadline [...]

South Korea on Monday said India is undeniably a global powerhouse and that the Indian presidency of G20 will unleash its potential and pay heed to insights and feedback from members and contribute to the international community. The statement came from a representative of South Korea who was speaking at the inaugural ceremony of the [...]

Shares of Adani group firms were trading on a mixed note in morning trade on Monday, with flagship Adani Enterprises climbing 10 per cent even as most of the group companies fell, a day after it released a 413-page response to allegations of wrongdoing brought by a US-based short seller Hindenburg Research. Most of the [...]