Latest Indian Economy News

The Ministry of New and Renewable Energy will soon seek the Union Cabinet's approval for a mandate on the use of green hydrogen in different industries. As per the consumption mandate, various industries especially petroleum, steel and fertilizers, would be mandated to consume a certain proportion of green hydrogen. At present various industries use hydrogen [...]

Benchmark stock indices Sensex and Nifty closed lower on Thursday after three days of gains dragged mainly by selling in index majors Reliance Industries and HDFC Bank. The BSE Sensex pared early gains to settle 180.96 points or 0.28 per cent lower at 65,252.34. During the day, it hit a high of 65,913.77 and a [...]

After mutually resolving six trade disputes with the US at the World Trade Organization (WTO), New Delhi and Washington are now trying to engage in ending their last pending dispute over poultry products, a senior government official said on Thursday. In July, India and the US mutually resolved six trade disputes pending at the WTO, [...]

The Reserve Bank on Thursday enhanced the upper limit of an offline payment transaction to Rs 500 from the existing Rs 200 to promote the use of UPI-Lite wallet in areas where internet connectivity is weak or not available. However, the total limit for offline transactions on a payment instrument remains Rs 2,000 at any [...]

Union Road Transport and Highways Minister Nitin Gadkari on Wednesday said he will unveil a 100 per cent ethanol-fueled variant of Toyota's Innova car on August 29. The Union minister, who has been exhorting automakers to come out with alternative fuel-powered and green vehicles, had last year launched a hydrogen-powered car, Toyota Mirai EV. "On [...]

 Reserve Bank Governor Shaktikanta Das on Wednesday said the frequent food price spikes pose a risk to anchoring inflation expectations and called for timely supply-side measures to limit such shocks. Delivering the Lalit Doshi Memorial Lecture here, Das said vegetable price shocks are short-term in nature and the monetary policy can wait for the "dissipation" [...]

Reserve Bank Governor Shaktikanta Das on Wednesday termed the success of the Chandrayaan-3 mission as a historic moment that will give a huge boost to the country's space technology manufacturing sector. "A little while ago, we all witnessed history being made when the chief of ISRO proudly announced that India is now on the moon," [...]

An individual on Wednesday settled a case with markets regulator Sebi in relation to the alleged violation of insider trading norms in the matter of Himadri Speciality Chemical Ltd after paying Rs 26 lakh as settlement charges. The settlement order came after the applicant, Debashis Ghosh, proposed to settle the instant proceedings initiated against him [...]

The deadline for implementing an Aadhaar-based payment system as the only mode of payment to workers under National Rural Job Guarantee Scheme MGNREGS will not be extended beyond August 31, government sources said. The Union government in January this year made the use of an Aadhaar-based payment system (ABPS) mandatory for paying wages to those [...]

India, as current holder of the G20 Presidency, is "well positioned" to help advance a global discussion on AI issues, Microsoft Vice Chair & President Brad Smith has said advocating broader legal and regulatory frameworks for AI, and safety brakes in AI systems controlling critical infrastructure. Smith, who is on a visit to India and [...]

UK Business and Trade Secretary Kemi Badenoch launched a new “Alive with Opportunity” campaign on Thursday to help double trade with India by 2030, with a series of targeted trade missions for UK firms in high-growth sectors. The Cabinet minister, who arrived in India on a three-day visit to attend the G20 Trade and Investment [...]

Pune-based heavy engineering firm Walchandnagar Industries Ltd (WIL) has a double reason to cheer after Chandrayaan-3 successfully landed on the lunar surface as some of the critical booster segments used in its launch vehicle have been manufactured and tested at the facility, the firm said. The firm in a release issued on Wednesday said it [...]

Prime Minister Narendra Modi on Thursday said India is seen as a combination of openness, opportunities and options as the world sees optimism and confidence in the Indian economy. In a video message at the G20 Trade and Investment Minister's meeting here, the prime minister said that during the last nine years, India has become [...]

Equity benchmark indices rallied in early trade on Thursday, extending their winning run for the fourth day running, amid positive global market trends and fresh foreign fund inflows. The BSE Sensex climbed 333.95 points to 65,767.25 in early trade. The NSE Nifty gained 101.65 points to 19,545.65. From the Sensex pack, Tech Mahindra, Larsen & [...]

Benchmark Sensex rose by 213 points while Nifty settled above the 19,400 level on Wednesday following buying in banking counters and early gains in European stocks. The BSE Sensex climbed 213.27 points or 0.33 per cent to settle at 65,433.30. During the day, it jumped 284.68 points or 0.43 per cent to 65,504.71. The NSE [...]

Onion auctions at all APMCs in Maharashtra's Nashik district closed for three days now, will resume from Thursday as traders protesting the imposition of 40 per cent export duty on the key kitchen staple have decided to withdraw the agitation, a traders' representative here said on Wednesday. The decision was taken in a meeting of [...]

The House of Abhinandhan Lodha (HoABL) and HDFC Capital Affordable Real Estate Fund – 3 (acting through its investment manager HDFC Capital Advisors Limited), have come together to create a Joint Venture Platform entailing project investments of Rs. 1500 crore towards the development of new generation low-rise development projects in India.  The Investment will result [...]

It is not true that India is not reducing coal-based power generation capacity in the energy mix, a senior government official said, adding that the country is targeting over 64 per cent of non-fossil fuel-based capacity by 2030. India has set the target of having 500GW of renewable energy by 2030. Coal-based power generation, however, [...]

US President Joe Biden will travel to India from September 7 to 10 to attend the G-20 Leaders' Summit during which he will discuss with other leaders a range of global challenges, including the Ukraine conflict, the White House announced on Tuesday. President Biden will also commend Prime Minister Narendra Modi's leadership of the G20, [...]

The CBI has conducted searches at the office of GTL Infrastructure Ltd (GTIL) in Mumbai after registering an FIR against it and unidentified officials of banks in a loan-fraud case of more than Rs 4,000 crore, officials said on Tuesday. The officials of 13 banks are under the agency's scanner for allegedly assigning Rs 3,224 [...]