Latest Indian Economy News

Washington, Apr 22 (PTI) Finance Minister Nirmala Sitharaman on Thursday met CEOs of large American firms like FedEx and Mastercard and discussed various opportunities for investment in India, which is the fastest-growing large economy in the world. The finance minister is in the US to attend IMF-WB Spring Meetings 2022. FedEx President and CEO-elect Raj [...]

Colombo, Apr 22 (PTI) Sri Lankan Prime Minister Mahinda Rajapaksa on Friday said he had a "very productive" conversation with his Chinese counterpart Li Keqiang and thanked him for assuring support to his government to address some of the crucial needs affecting peoples' livelihoods and well-being, amidst the worst economic crisis in the island nation. [...]

Mumbai, Apr 22 (PTI) Reserve Bank will have to constantly re-assess the "dynamic and fast changing situation" and tailor its actions accordingly, Governor Shaktikanta Das said during the recent meeting of the Monetary Policy Committee (MPC) which decided to maintain status quo on key interest rate. According to the minutes of the six-member MPC meet [...]

Advances efforts in plastic waste collection and recycling MUMBAI, India, April 22, 2022 /PRNewswire/ -- This Earth Day, Kimberly-Clark India in partnership with the Plastics for Change Foundation, celebrates the successful conclusion of 'Project घर'. An initiative launched in 2021 to address the mounting challenge of plastic waste by collecting and recycling 22.5 metric tons [...]

Mumbai, Apr 22 (PTI) Reserve Bank of India is not 'behind the curve' in terms of interest rates and may raise the repo rate twice or thrice this year, HDFC Vice-Chairman and Chief Executive Officer Keki Mistry said on Friday. Mistry said it is important for the country to maintain growth in the economy as [...]

Mumbai, Apr 22 (PTI) Equity markets buckled under selling pressure on Friday after a two-session rally as selling emerged in IT, bank and energy stocks amid a bearish trend overseas following hawkish comments from the US Federal Reserve. A sharp drop in the rupee and unabated foreign fund outflows added to the gloom, analysts said. [...]

Colombo, Apr 22 (PTI) In an “unstinted and multi-faceted support” to Sri Lanka which is grappling with its worst-ever economic crisis, India has extended the duration of the USD 400 million currency swap facility which had been concluded with the island nation in January. This was the first extension of an international debt instrument to [...]

New Delhi, Apr 22 (PTI) Credit rating agency ICRA on Friday said it has revised the outlook for residential real estate for the current fiscal to stable from negative on an improved demand. The revision in the outlook has been "supported by multi-year high sales which in turn is driven by increasing preference for home ownership, [...]

New Delhi, Apr 22 (PTI) Realty firm Ashiana Housing has signed an MoU with the Rajasthan government to invest Rs 420 crore for developing housing projects in Bhiwadi. The MoU (Memorandum of Understanding) was signed at an investment summit in the Alwar district of Rajasthan, the company said in a statement on Friday. "This is [...]

NEW DELHI, April 22, 2022 /PRNewswire/ -- Praised by Nobel laureates and other economists of global renown, The Resilient Society is a timely and topical book. It best describes how individuals, institutions and nations can successfully navigate a dynamic, globalized economy fi­lled with unknown risks. A Financial Times Best Book of the Year Hardcover | [...]

Washington, Apr 22 (PTI) Finance Minister Nirmala Sitharaman on Thursday said it was necessary to address the challenges of conflict and violence to achieve the twin role of ending extreme poverty and boosting shared prosperity."Union Finance Minister Smt. @nsitharaman attended Ministerial Dinner for Development Committee members in Washington D.C., today," the Finance Ministry said in [...]

New Delhi, Apr 21 (PTI) Bharti group-backed Oneweb has received a licence from the government to provide satellite services in the country, an official source said on Thursday. UK-based Oneweb has plans to provide connectivity in the country through OneWeb satellite from mid-2022. "The Department of Telecom has issued Global Mobile Personal Communication by Satellite [...]

Kolkata, Apr 21 (PTI) The West Bengal government on Thursday announced setting up of sectoral committees to forge synergies between the authorities and industries in which business doyens will function as co-chairmen.Amit Mitra, the principal chief advisor to Chief Minister Mamata Banerjee, said the committee for agriculture and allied products will be co-chaired by ITC [...]

Mumbai, Apr 21 (PTI) Industrialist Gautam Adani, whose group runs a slew of businesses from airports to ports, and power generation to distribution, has said if the country becomes a USD 30-trillion economy as projected by 2050, it can also be home to a nation wherein no one will go to bed on empty stomach. [...]

Kolkata, Apr 21 (PTI) The West Bengal government on Thursday announced setting up of sectoral committees to forge synergies between the authorities and industries in which business doyens will function as co-chairmen.Amit Mitra, the principal chief advisor to Chief Minister Mamata Banerjee, said the committee for agriculture and allied products will be co-chaired by ITC [...]

Mumbai, Apr 21 (PTI) Hong Kong-based international airline Cathay Pacific on Thursday said it will resume scheduled flight services to India in a phased manner from May 4 onwards.           Flight services on the Mumbai-Hong Kong route will resume from May 4, while the air connectivity between Hong Kong and Delhi will be restored from [...]

New Delhi, Apr 21 (PTI) Bharti group-backed OneWeb and New Space India Limited, the commercial arm of the Indian Space Research Organisation, have entered into an agreement that will help ensure OneWeb completes its satellite launch programme. The first launch with New Space India is expected in 2022 from the Satish Dhawan Space Centre (SDSC) [...]

New Delhi, Apr 21 (PTI) The finance ministry has barred public sector enterprises from bidding for other Central Public Sector Enterprises (CPSEs) which are on the block for privatisation, as it would defeat the very purpose of the disinvestment policy. Stating that transfer of management control from the government to any other government organisation or [...]