Business
Reserve Bank Of India Pulls Back Rupee From The Brink Of 88 Against Dollar
MUMBAI: Intervention by the Reserve Bank of India (RBI) in the foreign exchange market stopped the rupee from touching 88/dollar-level mark on Monday as the Indian currency depreciated sharply in the early trade after US president Donald Trump announced to introduce 25 per cent tariff on all steel and...
India’s Pharma Market To Expand 2.4 Times Over Next 5 Years, Share In Global Market To Hit 5 Per Cent: Report
NEW DELHI: India’s pharmaceutical industry is poised for significant growth, with its share in the global market expected to rise to 5 per cent by 2030, according to a report by Bain & Company. The Indian pharma market, currently valued at around USD 55 billion, is projected to expand...
Rolls-Royce To Double Sourcing From India Over Next Five Years
NEW DELHI: Aerospace major Rolls-Royce on Monday said it intends to double its supply chain sourcing from India over the next five years. The company will seek to increase its sourcing of complex parts for advanced aerospace engines, naval propulsion systems, diesel engines and gas turbine engines as part...
India Sets Up EFTA Desk To Promote Trade, Investment
NEW DELHI: India is setting up a dedicated platform, European Free Trade Association (EFTA ) desk, to promote trade, investment, and business facilitation between the two regions, an official statement said on Monday. India and the four European nations EFTA bloc signed a free trade agreement on March 10...
Trump To Announce Steel, Aluminum Tariffs
WASHINGTON: President Donald Trump said he will announce that the United States (US) will impose 25 per cent tariffs on all steel and aluminium imports, including from Canada and Mexico, as well as other import duties later in the week. “Any steel coming into the US is going to...
Only 4.89 Per Cent Of Smart Meters Installed Under RDSS
NEW DELHI: Out of the total target of 20.33 Crore smart meters sanctioned under Revamped Distribution Sector Scheme (RDSS), approximately 99.51 Lakh or 4.89 per cent smart meters have been installed in the country, Parliament was informed on Monday. As per the data shared by the Minister of State...
Rupee Settles Flat At 87.50 Against USD
MUMBAI: The rupee on Monday plunged 45 paise and moved closer to the 88 per US dollar-level, weighed down by the strength of the American currency tariff concerns, but settled on a flat note at 87.50 (provisional) on suspected Reserve Bank of India (RBI) intervention. The American currency gained...
Projects Worth Rs 58,000 Crore Get Support Of Agri-Infra Fund
NEW DELHI: To boost post-harvest facilities, the government has approved proposals worth Rs 58,000 crore under Agri Infrastructure Fund (AIF) for more than 92,000 projects since its launch four years back. Sources said that so far these sanctioned projects by the agriculture ministry have mobilised an investment of Rs...
National Highways Infrastructure Trust Targets Rs 20,000 Crore In Biggest Fundraise
NEW DELHI: The National Highways Infrastructure Trust (NHIT), sponsored by the National Highways Authority of India (NHAI), is likely to raise over Rs 20,000 crore from domestic and foreign investors over the next few weeks for acquisition of 11 operational road assets. This will be the fourth and the...
Energy Booster From US On Menu In Runup To PM Modi’s Visit
NEW DELHI: Ahead of Prime Minister Narendra Modi’s meeting this week with US President Donald Trump, India is weighing how much more energy it can import from that country. Oil ministry officials and executives at state-run oil and gas companies have held multiple discussions on current energy imports from...
RBI May Cut Interest Rates Further By 50 Basis Points In 2025, Stance To Turn Accommodative: Report
NEW DELHI: The Reserve Bank of India (RBI) may cut interest rates further by 50 basis points (bps) in 2025 and shift its stance from “neutral” to “accommodative,” according to a report by Bank of Baroda. The report suggested that the central bank has entered a rate-cut cycle, and...
Government Looking At Procedural Easing To Further Promote FDI
NEW DELHI: The government is looking at further easing of procedures in certain sectors to attract more foreign direct investments (FDI) into the country, a government official said. The department for promotion of industry and internal trade (DPIIT) has held stakeholder consultations with different government departments, regulators, industry associations,...
Ministry of DoNER Working With Amazon, Two Other Companies To Boost Bamboo Market
CHENNAI: The Ministry of Development of North East Region would explore the market opportunities for Bamboo in domestic and overseas markets and it was working with Amazon and two other companies in this connection, a senior government official has said. Besides promoting Bamboo locally, the Ministry would also look...
Saudi’s USD 63-Billion Giga Project Diriyah Sees Keen Interest From Indian Investors
NEW DELHI/DAVOS: Several Indian firms have shown a keen interest in investing in Diriyah, a $ 63-Billion Saudi Arabian giga project, while some big names like Tatas and Oberois having already signed up, its CEO Jerry Inzerillo said. Diriyah, being billed as the City of Earth, is being built...
Significant Reduction In Gold Smuggling Post July Import Duty Cut, Says CBIC Chief
NEW DELHI: Gold smuggling has reduced significantly since July 2024 when the government slashed import duty on the precious metal to 6 per cent, Central Board of Indirect Taxes and Customs (CBIC) Chairman Sanjay Kumar Agarwal said. As per the latest available data, Customs and DRI officers seized 847...
Increase in MSME Financing Right Step To Boost Biogas Industry: IBA
NEW DELHI: Indian Biogas Association (IBA) on Sunday said the proposed increase in MSME financing in the General Budget 2025 is a right step to boost biogas industry. With a strong push for manufacturing, green energy, and digital transformation, this Budget sets the stage for Aatmanirbhar and Viksit Bharat,...
Markets To Track Inflation Data, Global Trends This Week: Analysts
NEW DELHI: Investors would track a host of macroeconomic data announcements scheduled this week, including inflation numbers, and also monitor global market trends, and trading activity of foreign institutional investors, analysts said. The ongoing quarterly earnings announcements and the rupee-dollar trend would also influence the markets. “This week is...
RBI Cuts To The Chase – First Rate Cut In Five Years; FY26 GDP Growth Seen At 6.7%; Inflation At 4.2%
MUMBAI: In his first monetary policy statement, Reserve Bank of India (RBI) governor Sanjay Malhotra made his preference for a “less restrictive” approach loud and clear. The predictable 25 basis points cut in the repo rate – a first in nearly five years – was just one part of...
