Business
Government Classifies Barytes, Felspar, Mica, Quartz As Major Minerals
NEW DELHI: The government on Friday said that it has changed the classification of barytes, felspar, mica and quartz into the category of major minerals. This move would pave the way for an increased exploration and scientific mining of such resources that are primary source of many critical minerals....
Rupee Falls Seven Paise Against US Dollar
MUMBAI: The rupee pared initial gains and settled 7 paise lower at 86.71 (provisional) against the US dollar on Friday, weighed down by sustained foreign fund outflows and a recovery in the American currency index. Forex traders said the Indian rupee declined on Friday on weak domestic markets and...
GDP Growth Likely Improved To 6.3 Per Cent In December Quarter
NEW DELHI: India’s economy likely grew at 6.3% in October-December, up from 5.4% in July-September, mainly due to a broad-based pick-up in economic activity, the median of 16 estimates by economists showed. If the Q3FY25 growth comes in at 6.3%, GDP will have to grow by 7-7.3% in Q4...
Ministries To Be Sensitised To US Tariffs And Trade Deal
NEW DELHI: The commerce ministry will hold meetings with three-to-four ministries next week to sensitise them to various aspects of the proposed trade agreement with the US and President Donald Trump’s reciprocal tariff announcements, officials said on Thursday. Negotiations on the nature of the India-US bilateral trade agreement (BTA),...
Bank Credit Growth To NBFCs Slows To Four-Year Low In 2024
MUMBAI: Bank lending to non-banking financial companies (NBFCs) grew at its slowest pace in four years, rising 6.7% in 2024 to Rs 16.22 lakh crore as of December, compared with a 15% growth in 2023. The sharp slowdown was driven by higher funding costs after the Reserve Bank of...
Net ECB Borrowings Up Threefold To $15.6 Billion In April-December 2024
MUMBAI: Net external commercial borrowing (ECB) by Indian entities, including non-banking finance companies (NBFCs), grew nearly three times to $15.6 billion during April-December 2024, as against the inflows recorded in the same period in 2023, showing gains from soft global interest rates and risk premium. According to Reserve Bank...
Automotive Component Industry Likely To Grow 8-10% In Fy26, Says ICRA
MUMBAI: Amid speculation about a possible 25 per cent tariff imposition on imports by the US, the Indian automotive component industry is expected to maintain a steady growth trajectory and expand by 8-10 per cent in FY26. The sector, which saw a 14 per cent growth in FY24, is...
Boult Expands Mustang Partnership With New Audio Lineup
NEW DELHI: Boult audio continues its collaboration with Ford Mustang, introducing a new range of high-performance audio products. This latest launch builds on the success of their previous partnership, reinforcing Boult’s position in India’s fast-growing smart audio market and its commitment to bringing cutting-edge technology to consumers. Boult’s collaboration...
Uttar Pradesh Unveils Rs 8.08 Lakh Crore Budget
LUCKNOW: Uttar Pradesh Finance Minister Suresh Kumar Khanna on Thursday presented the state budget for the financial year 2025-26, totaling Rs 8,08,736 Crore, with a strong push toward research, technology, and infrastructure development. The budget, which marks a 9.8 per cent increase over the previous year’s outlay, allocates significant...
States Urged To Fast-Track Smart Metering And Enhance Cybersecurity In Power Sector
NEW DELHI: Union minister of power and housing & urban affairs Manohar Lal urged states to accelerate smart metering projects and enhance cybersecurity frameworks in the power sector to improve operational efficiency and ensure grid security. Addressing the regional meeting of the power sector in New Delhi, he emphasized...
Government’s Revenue From CPSE’s Dividend Likely To Exceed Revised Estimates, But Lowest In 4 Years
NEW DELHI: Dividend received by the government from Central Public Sector Enterprises (CPSEs) and private companies with minority stake holding by the government is expected to exceed revised estimates during current fiscal, i.e, 2024-25 (FY25). Still, it is likely to be the lowest in four years. Data from DIPAM...
Bharat Electronics Bags Order Worth Rs 1220.12 Crore From Defence Ministry For Supply Of 149 SDR And DCT To Indian Coast Guard
Bharat Electronics (BEL) on Thursday announced that it has signed a contract with the Ministry of Defence for supply of Software Defined Radios (SDR) and Data Communication Terminals (DCT) for Indian Coast Guard. The order is valued at Rs 1034 crore (excluding taxes), it said in a regulatory filing....
Economy On Recovery Path, Rate Cut To Boost Demand, Says RBI Report
MUMBAI: The Indian economy is on a recovery path in the second half of the current financial year (H2FY25), with increasing probability that the reduction in policy repo rate during the February monetary policy review will boost domestic demand, the Reserve Bank of India’s (RBI’s) monthly State of the...
US Tariff Hike May Hit India’s GDP Growth By Up To 0.6 PP: Goldman Sachs
NEW DELHI: The increase in average effective tariff rate imposed by the United States (US) on Indian exports could potentially impact India’s gross domestic product (GDP) growth by 0.1-0.3 percentage points, according to Goldman Sachs report on Wednesday. This forecast considers various scenarios, including the US government’s planned reciprocal...
Sectoral Growth, Tech To Power India’s $23-35 Trillion ‘Economic Vision’: Report
MUMBAI: For India to transform into a high-income country with a projected gross domestic product (GDP) of $23-35 trillion, will need a sustained annual growth of 8 per cent to 10 per cent. This will be powered by India’s demographic dividend, technological innovation, and sectoral transformation, according to the...
Rupee Volatility More Than Halves; RBI Intervention Narrows Opening-Closing Difference Significantly
MUMBAI: The Reserve Bank of India’s (RBI’s) intervention to stem the rupee’s depreciation has narrowed the difference between the currency’s opening and closing significantly to 5-7 paise in the last week. Since December, the difference has been in the band of 10-20 paise. Market participants said that the intervention,...
India Inc May See 9% Salary Hike In 2025 But Big Slump In Tech Consultancy
NEW DELHI: The salary increments in India are expected to stabilise in 2025 with a rise of 9.2 per cent during the year, according to a survey conducted by professional services firm Aon. This is slightly lower than an increase of 9.3 per cent reported in 2024, amidst global...
India-Qatar Trade Agreement Must Be Approached With Caution: GTRI
NEW DELHI: India should tread cautiously on a potential free trade agreement (FTA) with Qatar, particularly in the petrochemical sector as both countries are strong in this segment, economic think tank GTRI said on Wednesday. The Global Trade Research Initiative (GTRI) added that India should ensure that tariff concessions...
