Business
Vehicle, Marine Exports To EU Zoom Before FTA Signing
NEW DELHI: Vehicle and marine exports to the European Union have shown a growth in excess of 25% in the April-December period of this financial year and these are expected to gain greater traction once the Free Trade Agreement (FTA) between both sides becomes operational. The vehicle exports to...
Permanent Magnet Production To Start By Year-End: Govt
NEW DELHI: India will begin domestic production of permanent magnets by the end of this year, marking a strategic breakthrough aimed at reducing its overwhelming 95% dependence on imported critical minerals that power electric vehicles, renewable energy systems, electronics and defence manufacturing. “The mining ministry and a state-run body...
Europe Backs India’s AI Push And Supports Early Ratification Of Trade Deal
NEW DELHI: European leaders and delegation members on Wednesday conveyed unanimous support for the early ratification of the India-European Union (EU) trade deal in their discussions with Prime Minister Narendra Modi and the Indian side during the ongoing AI Impact Summit. Ahead of the Leaders’ Plenary, scheduled for Thursday,...
Banks Take Cautious Approach To Acquisition Financing Under New RBI Norms
MUMBAI: Banks plan to move cautiously into acquisition financing after the Reserve Bank of India’s (RBI’s) final guidelines, issued last week, opened an avenue for deploying resources. The framework will take effect on April 1. With the acquisition funding door now open, the Reserve Bank of India has installed...
States’ Fiscal Arithmetic Tightens In FY27; Deficit Seen At 3% Of GDP
NEW DELHI: India Ratings & Research (Ind-Ra) has projected the aggregate fiscal deficit of states to rise to 3 per cent of gross domestic product (GDP) in 2026-27 (FY27), from an estimated 2.8 per cent in 2025-26 (FY26), citing higher revenue expenditure amid election-related pressures and scheme cost-sharing requirements....
Bad Loan Ratios Fall To Record Lows In Q3 With GNPA At 1.9%, NNPA At 0.4%
MUMBAI: With banks continue to clean up their balance-sheets, both gross as well as net NPAs have come down to the lowest levels on record at 1.9% and 0.4% respectively in the December quarter. This comes on the back of steady improvement in key pain areas, with retail loan...
India & Canada To Finalise Trade Pact Terms In March
NEW DELHI: India and Canada are likely to finalise the Terms of Reference (TOR) of the Comprehensive Economic Partnership Agreement (CEPA) during the visit of Canadian Prime Minister Mark Carney’s visit to India early next month. The ToR establishes the framework, scope, objectives, and procedures for the negotiations. The...
India, France Elevate Ties To A ‘Special Global Strategic Partnership’
NEW DELHI: India and France on Tuesday elevated their ties to a “special global strategic partnership”, with Prime Minister Narendra Modi and French President Emmanuel Macron concurring that deepening cooperation between Paris and New Delhi represents “a partnership for global stability and global progress in today’s turbulent world”. Macron,...
Farm And Processed Food Exports Rise A Modest 3.3 Per Cent In April-January
NEW DELHI: India’s exports of agricultural and processed food products rose by a modest 3.3% year-on-year to $20.99 billion during the April-January period of the current fiscal, as rice, which has the biggest share in the country’s agri-products exports basket, declined due to geo-political factors. The value of rice...
India Emerges Principal Gainer Among Leather Exporters To EU: CareEdge
NEW DELHI: India’s leather industry has emerged as the “principal gainer” among leather-exporting nations to the European Union following the recent trade pact, which saw the tariffs cut to zero from 17% earlier, CareEdge Ratings said. The rating agency said the cost competitiveness of labour-intensive Indian leather and footwear...
Oil Firms’ Refinery Margins May Cool To $6-8 Per Barrel
NEW DELHI: After three years of blockbuster margins fuelled by ultra-cheap Russian crude, the country’s refining sector is moving into a new — and tougher — earnings cycle. Gross refining margins (GRMs), which touched record highs during the peak of geopolitical supply disruptions, are now expected to cool and...
IBBI Draft Norms Aim To Fix Gaps In Resolution Process
NEW DELHI: The Insolvency and Bankruptcy Board of India (IBBI) has proposed a series of changes in the insolvency rules that will plug gaps in insolvency costs and the treatment of delayed claims in addition to bringing in more transparency in the approval of resolution plans by the committee...
Wholesale Inflation Climbs To 10-Month High Of 1.8 Per Cent In January
NEW DELHI: India’s factory-gate inflation, measured by the wholesale price index (WPI), rose to a 10-month high of 1.81 per cent in January, driven by a pickup in food prices and higher core inflation, data released by the Ministry of Commerce and Industry showed on Monday. After remaining flat...
Goods Trade Deficit Rises To $35 Billion In January As Gold Imports Surge 350%
NEW DELHI: India’s merchandise trade deficit widened sharply to $35 billion in January, up from $24 billion in December, driven by a surge in gold and silver imports and a 23 per cent decline in exports to the US. Merchandise exports during January remained largely flat at $35.56 billion,...
Stopping Russian Oil Buy Has Serious Fiscal, Inflationary Impacts: Moody’s
MUMBAI: Stating that the almost-fully one-sided trade-deal with the US appears to plaster over the breakdown in bilateral relations and the lack of details means that the Indo-US relationship is far from repaired, economists at Moody’s Analytics have warned that completely stopping Russian oil will have serious fiscal and...
Retail Market Expected To Double To INR 210-215 Lakh Crore In 2035: Report
NEW DELHI: India’s retail market is expected to more than double to INR210-215 lakh crore in 2035 from INR90-95 lakh crore in 2025 as the country continues to outperform major global economies and is on track to become the world’s third largest economy, according to a report released on...
Draft Rules Seek Mandatory Reporting Of Offshore Related-Party Rupee-Forex Deals
MUMBAI: The Reserve Bank of India (RBI) on Monday issued draft directions to widen reporting obligations for Authorised Dealer Category-I (AD Cat-I) banks, requiring disclosure of overseas related-party foreign exchange derivative transactions involving the Indian rupee. The central bank said AD Cat-I banks would be required to report all...
Economists Expect Retail Inflation To Be 35-50 Basis Points Lower In New CPI Series
MUMBAI: Economists expect FY27 headline inflation to be 35-50 bps lower than the RBI forecast in FY27 due to the higher weight given to core inflation and the marginally lower weight given to the food basket, which in the old series had the highest weight of over 42%, in...
