Business
India’s External Debt Rises To $717.9 Billion
NEW DELHI: India’s external debt increased by 10.7 per cent to $ 717.9 billion at the end of December 2024 from $ 648.7 billion in December 2023, as per the data released by the finance ministry. On a quarter-on-quarter basis, there is a 0.7 per cent increase in external...
Cabinet Okays Rs 23,000 Crore PLI Scheme For Electronics Component Manufacturing
NEW DELHI: The Union Cabinet on Friday approved a ₹22,919 crore scheme to promote domestic manufacturing of electronics components, display and camera modules, non-surface mount devices, multi-layer printed circuit boards, lithium-ion cells for digital applications, among others. The government expects production of ₹4.56 trillion with an investment of ₹59,350...
India Looks To Offer US Tariff Cuts On Farm Imports, Eyes Trade Success
NEW DELHI: India has offered tariff cuts on imports of US farm products like almonds and cranberries as a further concession to the United States, two government sources said, hoping to avert President Donald Trump’s reciprocal tariffs set for next week. Unlike China, Canada and the European Union, India...
India’s Current Account Deficit Widens To 1.1% Of GDP In Q3 FY25
MUMBAI: India’s current account deficit (CAD) rose marginally to $11.5 billion, or 1.1 per cent of gross domestic product (GDP), during the October-December 2024 quarter of the ongoing financial year (Q3FY25) from $10.4 billion, or 1.1 per cent of GDP, a year ago, amid a rise in service exports....
Banking Liquidity Hits Three-Month Low Of Rs 13,000 Crore
MUMBAI: The liquidity deficit in the banking system fell to Rs 13,000 crore on Thursday, its lowest since December 16. Experts say the worst of the liquidity deficit may be over and expect it to turn surplus in the first quarter. The Reserve Bank of India (RBI) conducted a...
Core Sector Growth Slows To 5-Month Low In February; Crude, Natural Gas Output Slips
NEW DELHI: India’s core sector output slowed to a five-month low of 2.9% in February from 5.1% in January, as growth across most infrastructure sectors moderated, according to official data released Friday. The growth was 7.1% a year earlier and experts cited base effect for the slowdown last month....
AI Express Plans More Virtual Interline Partnerships With Foreign Low-Cost Carriers
GURUGRAM: Air India Express plans to have more virtual interline partnerships with foreign low-cost carriers and to deepen its network. The Tata Group-owned airline aims to carry 30 million passengers in 2025-26, higher than 20 million passengers in the current financial year ending March 2025, according to its Managing...
Stock Markets Trade Lower On Weak Global Trends Amid US Tariff Jitters
MUMBAI: Benchmark indices declined in early trade on Friday mirroring weak trends in the global markets amid uncertainties over Trump tariffs. The 30-share BSE benchmark Sensex declined 144.66 points to 77,461.77 in early trade. The NSE Nifty dipped 38.7 points to 23,553.25. From the Sensex pack, Mahindra & Mahindra,...
SEBI Proposes To Limit Expiry Days Of Equity Derivatives
MUMBAI: The Securities and Exchange Board of India (SEBI) on Thursday proposed that expiries of equity derivatives contracts of an exchange should happen either on Tuesday or Thursday. In addition, it has also proposed that exchanges seek its approval before launching or modifying any contract expiry or settlement day....
Equity, Debt Fundraising By Indian Corporates At All-Time High In FY25
MUMBAI: Fund raising by Indian corporates through equity and debt reached all-time highs in financial year 2024-25, according to primedatabase.com, a prominent database provider on the primary capital market. Public equity fundraising surged to an all-time high of Rs 3,71,460 crore, reflecting a 92 percent increase from Rs 1,90,104...
India’s E-Retail Market Set To Reach $190 Billion GMV By 2030: Bain Report
MUMBAI: India’s e-retail market is projected to triple to $170–$190 billion in gross merchandise value (GMV) by 2030, owing to an expanding shopper base and newer business models, according to a report by Bain & Company and Flipkart. The report highlighted India’s position as the world’s second-largest e-retail shopper...
RBI To Double Foreign Investor Cap In Listed Firms To 10% To Boost Inflows
NEW DELHI: India’s central bank is set to double to 10 per cent a cap on investment by individual foreign investors in listed companies, as it aims to boost capital inflows, according to two senior government officials and documents reviewed by Reuters. Foreign portfolio investors (FPIs), pressured by poor...
Refiners Seek Alternatives To Venezuelan Oil Post US Tariff
NEW DELHI: Indian refiners are now stuck with a problem after the US imposed 25% tariffs on countries buying crude oil from Venezuela, forcing them to look for alternative oil sources. While oil imports from the south American country to India have not been conventionally high, these shipments increased...
Economic Policies In India Made For ‘Bombay Club’, Says RJD MP
NEW DELHI: Economic policies in the country are not made for the people but for the “Bombay club,” Rashtriya Janata Dal (RJD) MP A D Singh said in the Rajya Sabha on Thursday, adding that the situation was the same under the previous government led by the Congress as...
Trump’s Tariff Likely To Hit Indian Auto Component Makers
NEW DELHI: United States (US) President Donald Trump’s decision to slap a 25 per cent tariff on all auto imports has cast uncertainty over India’s nearly $seven billion of exports to America, which industry fears could squeeze margins. Automobiles and car parts imported to the US would face a...
More Taxes For Pakistanis After IMF Deal
ISLAMABAD: The people of Pakistan should brace for more taxes as carbon levy is on the cards following a fresh deal of $1.3 billion with the International Monetary Fund (IMF) to tackle climate change, officials said. Under the Staff-Level Agreement (SLA) with the fund on Wednesday, the lender also...
Sensex Rebounds 318 Points Amid FII Buying
MUMBAI: Benchmark BSE Sensex rebounded by nearly 318 points on Thursday on buying in blue — chip HDFC Bank, Reliance Industries, L and T, and Bajaj Finance amid foreign fund inflows. The 30-share BSE Sensex climbed 317.93 points or 0.41 per cent to settle at 77,606.43 amid the monthly...
Gold Rises Rs 365 To Reclaim Rs 91,000 Mark
NEW DELHI: Gold prices increased by Rs 365 to Rs 91,050 per 10 grams in the national capital on Thursday amid a strong trend in the overseas markets, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had closed at Rs 90,685 per...
