NEW DELHI: In a first since fuel price deregulation, Indian state-run oil marketing companies will pay refineries a discounted price for petrol, diesel, aviation turbine fuel (ATF) and kerosene to limit mounting losses from a self-imposed freeze on retail fuel prices, sources said. The oil marketing companies (OMCs) on...
NEW DELHI: In a sharp reset triggered by soaring prices and supply disruptions, India’s LNG imports fell 12.5% month-on-month to 1.68 million tonne (mt) in March. Qatar’s share — once as high as 40% — collapsed to just 3.6%, marking one of the most dramatic shifts in the country’s...
MUMBAI: The Reserve Bank of India (RBI) has accorded approval to Dubai-based Emirates NBD Bank to acquire up to a 74 per cent stake in RBL Bank, paving the way for the bank to become a foreign lender. The approval from RBI came on April 1 with one year...
NEW DELHI: Trade and economic relations between India and its largest trading partner, China, seem poised to enter a new phase where both sides acknowledge a desire for strategic alignment and mutual ambition. China on Friday said it stands ready to work with India to fully leverage the role...
NEW DELHI: US President Donald Trump has imposed a 100 percent tariffs on the imported patented drugs and associated pharmaceutical ingredients. Trump said that generic drugs and their associated ingredients will not be subject to tariffs at this time, a move that provides a relief to the Indian drugmarkers....
NEW DELHI: Despite challenges of US tariffs, ongoing conflict in Ukraine and tensions in West Asia, India’s merchandise exports have closed 2025-26 on a positive note exhibiting growth over previous year, a senior official said Friday. “Despite the war, we will be closing the year with positive growth. With...
NEW DELHI: Gross and net goods and services tax (GST) collections rose 8.3 per cent and 7.1 per cent, respectively, in 2025-26, a year that witnessed a major rate rationalisation in September. Annual gross revenue growth was the slowest since the Covid-hit 2020-21, when collection contracted by 7 per...
NEW DELHI: India and the US would continue to work towards finalising the interim trade agreement whose framework was finalised in February, the US Trade representative said in a report that listed the tariff and non-tariff barriers American businesses face across the world and Washington would like to be...
MUMBAI: Rating agencies like Crisil and CareEdge reported a moderation in rating ratios during the second half (H2) of 2025-26 (FY26) compared with the first half (H1), while India Ratings & Research (Ind-Ra) said the upgrade-to-downgrade (U/D) ratio dipped in FY26 relative to 2024-25 (FY25). Icra, however, said that...
MUMBAI: The Reserve Bank of India (RBI) on Wednesday tightened oversight of the foreign exchange market by prohibiting banks from offering rupee non-deliverable forward (NDF) contracts to resident and non-resident corporate clients, as it seeks to curb speculative activity and stabilise the currency amid ongoing volatility. The move comes...
NEW DELHI: Persistent execution bottlenecks — ranging from right-of-way (RoW) issues to forest clearances — are threatening to slow India’s ambitious ₹9.16 lakh crore power transmission expansion plan, even as electricity demand surges and renewable capacity scales up, a CareEdge Ratings report said. The stress is already visible in...
BHUBANESWAR: The Comptroller and Auditor General (CAG) of India has pulled up the Odisha government for inefficiency in revenue realisation from state public sector undertakings (SPSUs), leading to non-remittance of over Rs 5,000 crore. As per the latest CAG report on state finances for 2024–25, tabled in the Assembly...
MUMBAI: India’s biotech sector is entering a new phase of global relevance, with the country’s bioeconomy expanding from $10 billion in 2014 to $195 billion in 2026, and projected to touch nearly $300 billion by 2033, according to a report by Endiya Partners. The report, India’s Biopharma Moment: Perspectives...
NEW DELHI: The proposed amendments to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 are drawing concern from policy and legal experts, who say the changes could expand government oversight over online content while stretching the scope of the parent Information Technology Act, 2000. At...
MUMBAI: India’s consumer goods makers have stepped into FY27 with a familiar worry — rising input costs — as the conflict in West Asia disrupts supply chains and drives up crude prices. After a brief period of stability, inflation in key raw materials — along with higher packaging and...
NEW DELHI: The Indian economy demonstrated resilience in FY26 amidst high US tariffs and geopolitical developments, with estimates indicating a robust real Gross Domestic Product (GDP) growth of 7.6%, according to official advance estimates. Upward revisions of growth estimates for FY26 and FY27 by major rating agencies boosted confidence....
NEW DELHI: India’s industrial production grew 5.2 per cent in February, up 10 basis points from an upwardly revised three-month low of 5.1 per cent in January, according to data released by the National Statistics Office (NSO) on Monday. The marginal improvement was driven primarily by a recovery in...
NEW DELHI: The World Trade Organization’s fourteenth Ministerial Conference (MC14) concluded on Monday in Yaounde, Cameroon with members failing to resolve the contentious issue of extending the moratorium on customs duties on electronic commerce, such as digital downloads and streaming. In May 1998, WTO members agreed for the first...