Business
India-US Trade Talks Heat Up As India Pushes Back On GM Crop Demands
NEW DELHI: The trade negotiators from India have stayed longer in Washington to sort out some differences, as both countries try to reach a trade agreement before July 9. That’s the date when US President Donald Trump’s higher US tariffs are expected to take effect. The face-to-face talks were...
Amazon Looks To Be Third-Time Lucky In Healthcare With Diagnostics Foray
BENGALURU: Amazon’s latest move to enter the diagnostics segment could mark a turning point in its healthcare ambitions, following two underwhelming attempts in the e-pharmacy and teleconsultation segments. Industry executives are of the view that since the diagnostics sector has potential for growth, it may finally provide the e-commerce...
Portfolio Management Services Assets Double In 5 Years, Hit Rs 32 Lakh Crore
MUMBAI: The recent surge in the Indian stock market has prompted a sharp rise in investor interest in discretionary portfolio management services (PMS) as they seek higher returns. Over the past two years, the number of investors in discretionary PMS has soared by 58%, rising from 1.22 lakh in...
Russia’s Rosneft In Early Talks With Reliance To Sell Stake In Indian Unit
NEW DELHI: Russian oil giant PJSC Rosneft Oil Company is in early talks with Reliance Industries for sale of its 49.13 per cent stake in Nayara Energy, which operates a 20-million tonnes-a-year oil refinery and 6,750 petrol pumps in India, sources said. Reliance has held preliminary talks for acquisition...
India Posts $13.5 Billion Current Account Surplus In Q4; External Debt Rises To $736.3 Billion: RBI
MUMBAI: The country’s balance of payments turned positive with the current account balance recording a huge surplus of $13.5 billion (1.3% of GDP) in Q4 FY25 compared to $4.6 billion (0.5% of GDP) in Q4 FY24 and as against a deficit of $11.3 billion (1.1% of GDP) in Q3FY25,...
Indian Exports May Face Higher Tariffs In US Despite Trade Deal: GTRI
NEW DELHI: The stand the US is taking in its negotiations with key partners suggest that even if an interim trade agreement with India gets finalised, Indian exports will still be subject to duties that are higher than those that prevailed prior to introduction of reciprocal tariffs on April...
“Big Deal” Coming, To Open Up Indian Market, Says Trump
NEW DELHI: As the last round of negotiators on an India-US interim trade agreement was under way in Washington, president Donald Trump said on Friday that a “big deal” was coming up and that would open up Indian markets for American goods. “Everybody wants to make a deal and...
Imports Of Russian Oil Likely To Touch 2-Year High In June
NEW DELHI: India’s imports of Russian crude oil in June are expected to touch a two-year high of 2.13 million barrels per day, supported by significant pricing advantages, according to provisional data from global real-time data and analytics provider Kpler. On a monthly basis too, Russian oil supplies to...
Government Asks PSBs To Step Up Lending After RBI’s Rate Cut
NEW DELHI: Govt on Friday nudged banks to step up lending in view of healthy balance sheets and the reduction in interest rates by RBI. While reviewing the performance of state-run banks, finance minister Nirmala Sitharaman asked banks to prioritise deposit mobilisation to support credit growth and pushed them...
New Project Finance Norms To Strengthen Lenders’ Guardrails
MUMBAI: The Reserve Bank’s final directions on project financing will help strengthen the guardrails against risk in project financing and also harmonise regulations for all lenders, besides easing credit cost concerns as they seek only lower provisioning, that too with prospective applicability. The final directions, which will come into...
Engineering Exports To US Up 10.4 Per Cent To $3.4 Billion In April-May
NEW DELHI: Despite high additional tariffs on major components of the engineering sector, exports of these items to the US remained in the positive zone in May growing at 4.6% on year to $ 1.75 billion, according to an analysis. In April-May, exports of engineering goods to the US...
India-US Talks For Interim Trade Deal At The Last Leg
NEW DELHI: As the July 9 deadline for implementation of full reciprocal tariff by the US draws near, a team of Indian negotiators have arrived in Washington and will hold talks. with the US officials for two days from Thursday. The Indian team is led by Indian chief negotiator...
All Banks Need To Swiftly Pass On Rate Cut To Customers: RBI Report
MUMBAI: A RBI report has suggested that all banks should bring down their lending rates for speedy transmission of the policy rate, which was lowered by 50 basis points earlier this month. An article published in the Reserve Bank’s June Bulletin stressed that the financial conditions remained conducive to...
Foreign Portfolio Investors Give Legs To Market Rally
MUMBAI: Foreign portfolio investors (FPIs), who have been net sellers to the tune of over $10 billion since the beginning of the calendar year, were net buyers of Rs 12,594.38 crore on Thursday – the highest since September 20 last year. This renewed interest propelled the benchmark indices, which...
Benign Inflation Should Shield India From Global Headwinds: Report
MUMBAI: Tariff-related uncertainties ahead of the July imposition deadlines could have a disproportionate impact on the world economy, although domestic growth underpinned by benign inflation should shield India from global headwinds, central bank economists said. Negative trade policy outcomes that spawn further trade barriers, coupled with geopolitical uncertainties, could...
India To Become $5 Trillion Economy By 2027: Piyush Goyal
KOLKATA: Union Commerce and Industry Minister Piyush Goyal said India is firmly on track to become a $5 trillion economy by 2027 despite global turbulence, driven by a collective national effort and strong leadership under Prime Minister Narendra Modi. Speaking at a virtual session organised by the Merchants’ Chamber...
India Among Top Fintech Hotspots Globally: WEF Study
NEW DELHI: A new global study on Wednesday listed India among the top fintech hotspots alongside the US and the UK. The World Economic Forum (WEF) study, released at its Annual Meeting of New Champions in China’s Tianjin, also said the fintech sector growth is stabilising amid strengthening profitability...
India Backs BRICS Statement, Shows ‘Grave Concern’ Over Strikes Against Iran
NEW DELHI: The BRICS countries have expressed “grave concern” over military strikes against Iran in “violation of international law and the United Nations Charter,” and called for an urgent need to break the cycle of violence and restore peace. In a joint statement on Wednesday, the influential bloc comprising...
