Latest Indian Economy News

The global airline industry is projected to report a lower loss at USD 6.9 billion in 2022, mainly due to stronger passenger yields and cost control by carriers amid rising fuel prices, according to industry body IATA. In June, the International Air Transport Association (IATA) projected the industry loss at USD 9.7 billion. In October [...]

The government on Friday said it has almost doubled the fees for IP facilitators under startups intellectual property protection (SIPP) scheme. The commerce and industry ministry said that the revised scheme is applicable from November 2. "To further encourage IP facilitators to provide quality services to startups in order to increase the number of IP [...]

The country's coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal. India's coal output was at 447.54 million tonnes in the year-ago period. In a bid to augment coal production capacity, the government has put 141 new coal blocks for commercial mines auction and has been [...]

Tata Power CEO and MD Praveer Sinha announced a Rs 6,000 crore capital investment by the company in Odisha. Speaking at the Make in Odisha Conclave here on Thursday, Sinha said the four power discoms of Odisha, where Tata Power has a majority stake, are committed to Rs 6,000 crore capex investment in the next [...]

GST revenues rose by 11 per cent to about Rs 1.46 lakh crore in November over the year-ago period, the Finance Ministry said on Thursday. This is the ninth straight month when collections from Goods and Services Tax (GST) has remained above Rs 1.40 lakh crore. The gross GST revenue collected in the month of [...]

India's economic growth slowed to 6.3 per cent in the September quarter of 2022-23 compared to 13.5 per cent in the preceeding three months mainly on account of contraction in output of manufacturing and mining sectors, according to government data released on Wednesday. Slower GDP expansion nothwithstanding, India continues to remain the fastest-growing major economy [...]

Most rated companies in India can withstand a weaker rupee, although external factors like rising interest rates in developed economies and higher energy prices would increase currency volatility, Moody's Investors Service said on Tuesday. In a commentary on non-financial companies in India, Moody's said on November 25, the Indian rupee touched 81.67 versus the US [...]

The government on Tuesday lifted the ban on exports of organic non-basmati rice, including broken rice after the easing of domestic supplies moderated prices. The government had, in early September, banned the export of broken rice with an aim to increase domestic availability. This followed a 20 per cent duty on the export of non-basmati [...]

The rupee appreciated 8 paise to 81.60 against the US dollar in early trade on Tuesday as foreign capital inflows and a firm trend in the domestic equity market boosted investor sentiments. Besides, a weak American currency in the overseas market helped the local unit, forex dealers said. At the interbank foreign exchange, the domestic [...]

The rupee depreciated 6 paise to 81.77 against the US dollar in early trade on Monday, tracking a lacklustre trend in domestic equity markets and a firm American currency overseas. However, lower crude prices in the international market and fresh foreign fund inflows restricted the rupee’s fall, forex dealers said. At the interbank foreign exchange, [...]

Pharmaceutical exports from India registered a growth of 4.22 per cent to reach USD 14.57 billion during the April-October period despite a negative trend last month, according to a senior official of an export promotion body under Government of India. Udaya Bhaskar, Director General of Pharmaceuticals Export Promotion Council of India (Pharmexcil) which is an [...]

A roadmap to reduce taxes on automobiles by half over a 10-year period to make the Indian auto industry more competitive globally and provide large scale employment to benefit the economy needs consideration, according to Toyota Kirloskar Motor Vice Chairman Vikram Kirloskar. Although at the moment India cannot afford to slash the tax rate on [...]

Nine of the top 10 valued firms together added Rs 79,798.3 crore in market valuation last week, with IT majors Tata Consultancy Services (TCS) and Infosys emerging as the biggest winners. In the last week, the 30-share BSE Sensex climbed 630.16 points or 1 per cent. The barometer settled at 62,293.64, its fresh record closing [...]

Trading activity in the equity market this week will depend on macroeconomic data announcements, monthly auto sales numbers and global trends, analysts said. Bulls dominated Dalal Street last week, supported by favourable triggers like buying by Foreign Institutional Investors (FII) and a drop in crude prices. Last week, the 30-share BSE benchmark Sensex rallied 630.16 [...]

The Tata Electronics Private Limited (TEPL) has committed to recruit 80 per cent of its workforce for its mobile components-manufacturing unit at Denkanikottai in Krishnagiri district of Tamil Nadu, State Industries Minister Thangam Thennarasu said on Friday. Also, the government would ensure that other industrial units in Tamil Nadu give preference to employ those from [...]

To encourage retail investors to invest in yellow metal through mutual fund route, industry body Amfi has asked the government for preferential tax treatment for Gold ETFs and Fund of Funds ahead of the Union Budget. In its budget proposals for 2023-24 to the finance ministry, Amfi has proposed that Gold ETFs and Fund of [...]

The CBI on Friday filed its first charge sheet in the Delhi excise policy scam case against arrested businessmen Vijay Nair and Abhishek Boinpally and five more accused, keeping the probe open into the alleged role of others named in the FIR including Deputy Chief Minister Manish Sisodia, officials said. Besides Nair and Boinpally, those [...]

The rupee settled for the day 8 paise higher at 81.62 (provisional) against the American currency on Friday on broad dollar weakness and improved risk sentiments. Forex traders said positive domestic equities and foreign fund inflows supported the local unit. At the interbank foreign exchange market, the local unit opened at 81.69 and touched an [...]

Union minister Nitin Gadkari on Friday said all vehicles belonging to the Indian government that have completed 15 years will be scrapped, and a policy to that effect has been sent to states. He was speaking at the inauguration of the annual 'Agro-Vision' agriculture exhibition here. "Yesterday, I signed a file under the guidance of [...]