NEW DELHI: Senior officials of India and the 10-nation bloc of Southeast Asian nations —ASEAN — will hold the next round of talks in July to review the existing free trade agreement in Jakarta, Indonesia, an official statement said on Sunday. The last round of the three-day negotiations concluded...
NEW DELHI: China has emerged as the largest trading partner of India with USD 118.4 billion two-way commerce in 2023-24, slightly edging past the US, according to the data of economic think tank GTRI. The bilateral trade between India and the US stood at USD 118.3 billion in 2023-24....
NEW DELHI: Stock markets will be driven by domestic inflation data, ongoing quarterly earnings from corporates and global trends this week, analysts said. News flows around the general election would also be tracked by investors, market experts said. Besides, investors would also take cues from the trading activity of...
NEW DELHI: A study to assess required infrastructure and identify main industry clusters for achieving the USD 1 trillion merchandise exports target by 2030 may be submitted by August-September to the commerce ministry, an official said. The official said that the Asian Development Bank (ADB) is doing that study...
NEW DELHI: Gold Exchange Traded Fund (ETF) witness a net outflow of Rs 396 crore last month, making it the first withdrawal after March 2023, owing to profit booking. Despite the decline, the asset under management (AUM) of gold funds rose 5 per cent to Rs 32,789 crore at...
MUMBAI: India’s central bank leadership is scheduled to meet the top management of asset reconstruction companies (ARC) next week to discuss corporate governance and stressed-asset resolutions amid concerns of potential back-door entry by defaulting promoters, people with knowledge of the development told ET. The Reserve Bank of India (RBI)...
NEW DELHI: India’s industrial growth eased to 4.9% in March compared with 5.6% in the preceding month, data released on Friday showed, ending the FY24 with a 5.8% growth. The Index of Industrial Production (IIP) had grown 5.2% in FY23. Manufacturing output expanded at a five-month high of 5.2%...
MUMBAI: While the past year was a good one for the cement industry with capacity addition and utilisation touching new highs, demand is expected to moderate in the current financial year. One reason for this is the unfavourable base effect with the industry having done well in recent years,...
NEW DELHI: State-owned Bharat Petroleum has set a capital expenditure target of Rs 1.7 trillion over a period of five years with majority of it allocated to the refinery and petchem segment, the company’s chairman and managing director G Krishnakumar said on Friday. Of the total capex, the company...
BEIJING: The Chinese market is open to all countries, including India, China’s new envoy to India, Xu Feihong, has said, maintaining that Beijing understands New Delhi’s concerns over its burgeoning trade deficit and is willing to address this issue by facilitating more Indian companies to tap the Chinese market....
FARIDABAD: Majority of personal computer and server makers selected under the IT hardware production-linked incentive scheme are expected to start production this year, a senior government official said on Friday. “… About 17 out of 27 PLI companies will start production this year. Around 6-7 of them started production...
KOLKATA: The Indian Tea Association (ITA) on Friday reiterated its plea for financial assistance from the Centre to support the struggling Darjeeling tea industry. According to the ITA, the situation in Darjeeling is critical due to decreasing yields and plummeting prices. Without a financial relief package, the survival of...
MUMBAI: After three consecutive weeks of drop, India’s forex reserves increased by USD 3.668 billion to USD 641.59 billion for the week ended May 3, the RBI said on Friday. The overall kitty dropped USD 2.412 billion to USD 637.922 billion for the previous week ended April 26. For...
NEW DELHI: Gold and silver prices rebounded sharply on Friday after falling for two straight sessions, with the yellow metal jumping Rs 950 to cross the Rs 73,000-mark in the national capital amid a bullish global trend and strong domestic demand on the Akshaya Tritiya festival. According to HDFC...
MUMBAI: The rupee stayed range-bound and settled 1 paisa lower at 83.49 (provisional) against the US dollar on Friday, as the support from positive domestic equities was negated by elevated crude oil prices. Forex traders said significant foreign fund outflows dented investors’ sentiments. At the interbank foreign exchange market,...
NEW DELHI: The Department of Telecommunications (DoT) is likely to approach National Security Council Secretariat (NSCS) to seek approval and clarity on satellite communications, particularly on data transfer and usage, as well as equipment and components used in satellite gateways based in India, said officials privy to the details....
NEW DELHI: The Centre’s finances were also helped by higher tax and non-tax receipts like dividends than factored in the RE, the official added. The Centre’s fiscal deficit for 2023-24 may be slightly lower than the revised estimate (RE) of Rs 17.3 trillion or 5.84% of GDP, aided by...
NEW DELHI: Household savings are estimated to have declined for the third year in a row in FY24 as liabilities on account of interest towards housing and vehicle loans have continued to rise, but the trend could reverse in 2024-25 on account of the impact of RBI’s curbs on...