Business
IDBI Bank Sale Nearing Completion; Kotak, Emirates NBD, Fairfax To Place Final Bids Next Week
MUMBAI: After years in the making, the government is set to complete the divestment of its stake in the already privatised IDBI Bank next month, with the three bidders — Kotak Mahindra Bank, Emirates NBD Bank, and Fairfax India Holdings — set to submit their final bids next week...
RBI Promises Long Period Of Easy Money Even As It Opts For Status Quo On Repo Rate
MUMBAI: The Reserve Bank-led rate-setting panel has opted for continuity in the final monetary policy review of the current fiscal, keeping the repo rate unchanged at 5.25% and also retaining the neutral policy stance. However, it has promised that lower rates are here to stay for longer unless macro...
India-EU FTA To Provide Better Access To European Markets For Indian Auto Component Firms: ICRA
NEW DELHI: The India-EU deal is expected to reshape competitive dynamics and market access on both sides while providing better access to European markets for Indian auto and component exports, aiding the sector’s long-term growth prospects, according to a report by ICRA. It is expected to give a boost...
Govt Extends Oil And Gas Block Auction Deadline For Fourth Time
NEW DELHI: The government has extended the deadline for submitting bids for India’s largest oil and gas acreage offering for a fourth time, granting potential investors an additional three months, the Directorate General of Hydrocarbons said. “Bid submission closing date for OALP Bid Round X (has been) extended till...
Big Tech Capex To Hit $650 Billion This Year As AI Race Intensifies
Four of the biggest US technology companies together have forecast capital expenditures that will reach about $650 billion in 2026 — a mind-boggling tide of cash earmarked for new data centers and all the gear housed within them. The spending planned by Alphabet Inc., Amazon.com Inc., Meta Platforms Inc....
Headwinds May Be Turning Into Tailwinds For Foreign Inflows: FM
NEW DELHI: The headwinds may finally be turning into tailwinds for foreign investment flows into India with the announcement of a trade deal between New Delhi and Washington, Union Finance and Corporate Affairs Minister Nirmala Sitharaman said on Wednesday, arguing the country’s macroeconomic fundamentals were strong even when investors...
Experts Forecast Status Quo On Repo Rate As RBI’s Monetary Policy Committee Begins Meeting
MUMBAI: Mint Road observers are unanimous in forecasting a status quo on the policy rate front at the monetary policy review later this week, citing the growth-oriented budget, coupled with the trade deal with the EU as well as the long-delayed deal with the US. The Reserve Bank-led monetary...
SEBI Chief Rules Out More Curbs To Contain Futures And Options Volume, Hails Trade Deal With US
MUMBAI: Days after the government more than doubled the tax on futures and options trading, leading to a bloodbath in the market, the Securities and Exchange Board of India (Sebi) said it is not planning any further regulatory reforms for the segment. “As a regulator, we are looking at...
‘Reforms To Continue Beyond Budget,’ Says FM Sitharaman
NEW DELHI: The Budget 2026-27 would have been no different – less or more aggressive or ambitious– even if the India-US trade deal had preceded it, Finance Minister Nirmala Sitharaman said on Wednesday, but stressed that more reforms would now take place even outside its explicit ambit in the...
Russia Says Ready For Close Cooperation With India In Hydrocarbons Trade
NEW DELHI: Russia’s Ministry of Foreign Affairs said on Wednesday that it stands ready to continue close cooperation with India on hydrocarbons trade. “We are convinced that India’s purchase of Russian hydrocarbons is mutually beneficial and contributes to maintaining stability in the global energy market. We stand ready to...
India-US Trade Deal To Boost Fdi, Fii And Strengthen Rupee, Says EAC-PM Chairman
NEW DELHI: The Indo-US trade deal will boost FDI as well as portfolio investments in the country, having a positive impact on the value of rupee, Chairman of Economic Advisory Council to the Prime Minister (EAC-PM) S Mahendra Dev said on Tuesday. India and the US agreed on a...
India To Restrict Russian Oil Buy, Import Only Where Supplies Are Irreplaceable
NEW DELHI: India will restrict crude oil purchases from Russia as part of an agreement reached with the US in exchange for lower trade tariffs, sources said, adding imports will continue for now by refiners such as Nayara Energy, which have no other alternative source. US President Donald Trump...
Agriculture, Dairy Shielded In India-US Deal; Trade Pact In Weeks
NEW DELHI: A day after announcements by PM Modi and US President Donald Trump that the two sides had reached a trade agreement, the govt asserted that sensitive sectors such as agriculture and dairy have been protected and labour-intensive sectors such as textiles, leather, marine products and gems &...
India-US Trade Deal: Elated Exporters Eyeing Discount Cuts On Orders
NEW DELHI: A large garment exporter, who was at a party on Monday when Trump announced the removal of 50% tariffs, celebrated the news before getting on to calls with American buyers. Suddenly, the business dynamics looked different. From looking to relocate a part of ops to Sri Lanka,...
India Could Cut Fuel Import Bill By $3 Billion By Switching To Venezuelan Crude: SBI Report
NEW DELHI: India’s crude oil import bill could decline by up to USD 3 billion annually if the country shifts a portion of its crude sourcing from Russia to Venezuelan heavy crude, according to a new report by State Bank of India (SBI) Research. The report highlighted that reducing...
Economists Have Mixed Take On Macro Numbers, But Red Flags Lower Focus On Fiscal Consolidation
MUMBAI: Analysts and economists have said the budget 2026 targets are unambitious and unrealistic given the external pressures facing the economy. However, the meagre 10 bps to 4.3 per cent reduction in the fiscal deficit target, coupled with the higher market borrowing and the 10 per cent increase in...
Centre Pegs Fiscal Deficit At 4.3 Per Cent Of GDP For FY27
NEW DELHI: Continuing on the path of fiscal consolidation, Finance Minister Nirmala Sitharaman on Sunday pegged fiscal deficit at 4.3 per cent of GDP for the next fiscal as against 4.4 per cent for the financial year ending March 2026. “Government has been delivering on our fiscal commitments consistently...
Record Rs 2.93 Lakh Crore Capex Anchors Railways’ Budget FY27
NEW DELHI: Indian Railways is on the cusp of a revolutionary growth phase with the allocation of its highest-ever capital expenditure in the Union Budget 2026-27, with a target of Rs 2.93 lakh crore. This historic allocation reflects the government’s aggressive move towards providing high-speed connectivity services, increasing freight...
