Latest Indian Economy News

New Delhi, Apr 17 (PTI) Increase in raw material costs and semiconductor prices, coupled with supply chain disruptions due to the war in Ukraine, could become headwinds for the Indian automobile industry going forward this year thereby affecting growth, according to MG Motor India President and Managing Director Rajeev Chaba. The domestic auto industry was [...]

London, Apr 17 (PTI) Boris Johnson will become the first British Prime Minister to visit Gujarat when he lands in Ahmedabad this week for a two-day visit to India for “in-depth talks” with his Indian counterpart Narendra Modi, according to Downing Street.Johnson’s first visit to India as UK Prime Minister will begin on April 21 [...]

London, Apr 17 (PTI) Boris Johnson will become the first British Prime Minister to visit Gujarat when he lands in Ahmedabad next week for a two-day visit to India for “in-depth talks” with his Indian counterpart Narendra Modi, according to Downing Street. Johnson’s first visit to India as UK Prime Minister will begin on April [...]

Colombo, Apr 16 (PTI) In an unusual move, the Sri Lankan Army on Saturday vowed to uphold the Constitution and not to interfere with the ongoing anti-government protests across the island nation against the unprecedented economic crisis that has led to acute food shortages, soaring prices and power cuts. Referring to the social media speculation [...]

Mumbai, Apr 16 (PTI) Union minister Piyush Goyal on Saturday exhorted the plastics industry to reduce import dependence and aspire to become a USD 100 billion industry in the next 4-5 years. The minister noted that there is a significant growth potential for the Indian plastic industry to become the world’s premium supply hub. "The [...]

Guwahati, Apr 16 (PTI) The Northeast Frontier Railway (NFR) has registered an increase of 18 per cent in freight unloading in the last financial year, an official statement said on Saturday. “During the recently completed financial year from April, 2021 to March, 2022, N. F. Railway carried 13,757 rakes of freight trains as against 11,659 [...]

New Delhi, Apr 16 (PTI) There is an urgent need for mineral sector reforms to accelerate GDP and boost exports, says a book which also suggests that all existing and future "captive mines" may be converted to "merchant mines" enabling to increase supply of minerals and coal to small or medium-sized businesses.In "Jan Andolan: For [...]

Colombo, Apr 16 (PTI) The Colombo Stock Exchange will remain temporarily closed for a week from Monday to provide investors an opportunity to have "more clarity and understanding" of the current economic conditions in crisis-hit Sri Lanka that would help them "to make informed investment decisions," it was announced on Saturday. "The stock market will [...]

Chandigarh, Apr 15 (PTI) The central teams formed to assess shrivelled wheat grain due to the early onset of heat wave have surveyed 17 Punjab districts till Friday, and will cover the remaining six district on Saturday. The central government had on Tuesday formed five teams to assess the crop losses before setting the guidelines [...]

New Delhi, Apr 15 (PTI) Commerce and Industry Minister Piyush Goyal on Friday said Egypt, which is one of the largest importers of wheat from Ukraine and Russia, has approved India as a wheat supplier. There is a sharp decline in availability of wheat in the global markets due to the ongoing conflict between Russia [...]

Colombo, Apr 15 (PTI) Sri Lanka has started a process to import cooking gas through a credit line arrangement with India, the chair of the country’s state-run gas company Litro Gas said on Friday as he resigned from his post alleging that a gas mafia was engaged in corruption amidst the country’s worst economic crisis. [...]

Rishikesh, Apr 15 (PTI) THDC India Limited on Friday signed an MoU with the Rajasthan government to produce 10,000 MW of renewable energy. The project will be completed in five years at a cost of Rs 40,000 crore. The memorandum of understanding (MoU) was signed by THDC CMD Rajiv Vishnoi and Rajasthan Renewable Corporation Ltd [...]

Kathmandu, Apr 15 (PTI) The Nepal government has urged Nepalese nationals living abroad to open dollar accounts in banks in the country and make investments amidst the economic crisis in the Himalayan nation.Nepal's foreign reserves have been hit by a slump in tourism during the pandemic, a problem that has also hit Sri Lanka which [...]

Kathmandu, Apr 15 (PTI) The Nepal government has urged Nepalese residing in foreign countries to open dollar accounts in banks in the country and make investments amidst the economic crisis in the Himalayan nation. Nepal's foreign reserves have been hit by a slump in tourism during the pandemic, a problem that has also hit Sri [...]

New Delhi, Apr 14 (PTI) A young woman hailing from Punjab who jumped off a 40-foot-high elevated platform of the Akshardham metro station here on Thursday morning died of injuries at a hospital, police said.As soon as she was spotted standing at the edge of platform No. 2 around 7:30 am, CISF personnel had rushed [...]

New Delhi, Apr 14 (PTI) MyGov under the Ministry of Electronics and Information Technology is organising 'Sabka Vikas Mahaquiz' series, as part of an outreach to build awareness amongst citizens about the government's various schemes and initiatives. Massive participation in the quiz series will deepen government engagement at the grassroots level, an official release said. [...]

Chandigarh, Apr 14 (PTI) Punjab Chief Minister Bhagwant Mann on Thursday directed the state procurement agencies to ensure resumption of procurement operations within hours of stoppage of rain in many areas. An official spokesperson said the chief minister directed the officials concerned to ensure that farmers are not put to inconvenience as a result of [...]

Mahasamund, Apr 14 (PTI) Amid outcry over high fuel prices, Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Thursday said the Union government has been appealing to states to cut VAT on petrol and diesel for giving relief to consumers.Puri was on a day-long visit to Mahasamund, designated as `aspirational district' under a [...]

Mumbai, Apr 14 (PTI) Tata Sons chairman N Chandrasekaran on Thursday said Tata Neu, the conglomerate's ambitious digital bet, is based on an open architecture that will permit non-group companies' offerings as well. The 'super-app' currently hosting products and services of group companies in lifestyle, travel, hospitality, grocery, financial services has witnessed 2.1 million downloads [...]

Mumbai, Apr 14 (PTI) Union Minister for Chemicals and Fertilizers Mansukh Mandaviya on Thursday said that the government wants to reduce the compliance-burden on the pharma industry for ease of doing business. Speaking as the chief guest at an Indian Drug Manufacturers' Association (IDMA) event here, Mandivya, who is also the Minister for Health and [...]