NEW DELHI: India and the Netherlands announced 17 outcomes at the end of Prime Minister Narendra Modi’s two-day visit to that country, which concluded Sunday afternoon. Commitments included deepening bilateral cooperation in semiconductors, critical minerals, renewable energy and green transition, defence co-production, mobility, horticulture and dairying. The Netherlands is...
NEW DELHI: Capital expenditure by state governments likely grew a modest 5% year-on-year in 2025-26, as fiscally cautious states put the brakes on borrowings despite a moderation in tax revenue growth. Aggregate capital outlay by 18 major states rose 4.7% year-on-year to Rs 6.19 lakh crore in FY26. These...
NEW DELHI: Free Trade Agreements (FTAs), reduction in import tariffs and improvement in business environment would encourage higher net foreign capital inflows into India, which have moderated in recent years, ADB Chief Economist Albert Park has said. During 2021-22, India attracted net Foreign Direct Investment (FDI) of $38.6 billion,...
MUMBAI: Prudential plc on Sunday said it would acquire a 75 per cent stake in Bharti Life Insurance—promoted by billionaire Sunil Mittal’s Bharti Enterprises—for ₹3,500 crore, subject to regulatory approvals. Subsequently, Prudential will reduce its holding in ICICI Prudential Life Insurance to below 10 per cent from its nearly...
NEW DELHI: The continued attempts at diversification of Indian exports has led to significant expansion of products and market footprint in 2025-26 generating additional exports of $ 202.2 million The strongest value contribution to the diversification came from advanced engineering and industrial sectors. “The trend highlights a gradual shift...
NEW DELHI: India’s merchandise exports rose 13.8 per cent year-on-year in April to a four-year high of $43.56 billion, according to the commerce ministry data released on Friday, despite supply-chain disruptions linked to the crisis in West Asia. Still, the trade deficit widened to a three-month high of $28.38...
NEW DELHI: Prime Minister Narendra Modi’s brief stopover in Abu Dhabi on Friday saw India and the United Arab Emirates (UAE) sign six agreements aimed at deepening energy and defence ties. The UAE also announced its entities would invest $5 billion in India. The PM’s visit coincided with the...
MUMBAI: India’s direct selling industry recorded turnover of Rs 23,021 crore in FY2024-25, up 4 per cent from Rs 22,142 crore in the previous fiscal, according to the Direct Selling Industry 2025 Outlook released by the Indian Direct Selling Association (IDSA). The report states that the industry grew at...
NEW DELHI: The Rs 3/litre hike in petrol and diesel prices could push retail inflation up by nearly 15 basis points in the short term, economists said. They expect more such price increases over the next few weeks, as oil marketing losses of oil marketing companies remained to be...
NEW DELHI: The finance ministry has approved Dubai-based Emirates NBD Bank’s proposal to acquire up to 74 per cent stake in private sector lender RBL Bank, PTI reported citing a regulatory filing on Friday. RBL Bank said Emirates NBD Bank (P.J.S.C) has received a letter from the Department of...
NEW DELHI: Led by a steep rise in energy prices amid the ongoing West Asia crisis, India’s wholesale price index (WPI)-based inflation rate more than doubled to a 42-month high of 8.3 per cent in April from 3.88 per cent in March, according to data released by the Ministry...
MUMBAI: The rupee hit a fresh intraday low of 95.96 per dollar on Thursday amid aggressive demand for the greenback among importers, and maturing of offshore non-deliverable forward (NDF) positions, dealers said. The rupee later recovered sharply to around 95.58 after reports emerged that the government was considering a...
NEW DELHI: India’s fiscal deficit in FY27 may overshoot the budgeted target to some extent as the Centre is implementing a series of relief and stabilisation measures to shield citizens, farmers and businesses from the fallout of the escalating West Asia conflict, sources told FE. However, they stressed, the...
NEW DELHI: A day after hiking customs duty on gold, the government on Wednesday put limits on the quantity of yellow metal that can be imported under a key export scheme. Capping gold imports under the Advance Authorisation (AA) Scheme at 100 kilograms, coupled with tighter compliance and monitoring,...
The International Monetary Fund (IMF) on Thursday warned that continued disruptions from the Iran war are pushing the global economy closer to an “adverse” scenario marked by slower growth, tighter financial conditions and rising inflation risks, AFP reported. Last month, the IMF’s World Economic Outlook projected global growth at...
MUMBAI: State-run Power Finance Corporation, the largest non-banking lender with over Rs 12.4 trillion in assets, has reported a marginal 3 per cent increase in the March quarter consolidated net income at Rs 8,598 crore, weighed down by a fall in interest income as borrowers chose to prepay their...
NEW DELHI: The government has sharply raised import duties on gold, silver and platinum, as it looks to curb non-essential imports and shield foreign exchange reserves strained by surging crude oil and fertiliser costs amid the West Asia crisis. Under a Finance Ministry notification issued on Tuesday, Customs duty...
International crude oil prices have a bearing on India’s macroeconomy, but their impact is not seen in the same way on growth and inflation, key components of retail inflation, according to a study by Bank of Baroda. Oil-price shocks tend to show up more clearly in wholesale prices compared...