Business
SEBI Eases IPO Dilution Rules, Extends MPS Timeline To Help Big Listings
MUMBAI: To encourage the listing of large companies, the Securities and Exchange Board of India (Sebi) on Friday approved lowering the minimum dilution requirement for initial public offerings (IPOs) and extended timelines for achieving the minimum public shareholding (MPS). The regulator also approved changes to the anchor investor framework,...
Oil Imports From Russia Remain Resilient
NEW DELHI: India’s imports of Russian oil have remained resilient in September, with volumes in the first twelve days already surpassing the total imports recorded in August, as per an analysis of data provided by Kpler. The country imported 1.87 million barrels per day of Russian oil as of...
India Plans Rs 22 Billion Relief Package For Exporters Hit By Trump’s 50% Tariffs
NEW DELHI: Amid the trade standoff with Washington, the Indian government is considering a broad support package for exporters struggling with newly imposed US tariffs. According to a Bloomberg report, the Ministry of Commerce and Industry has drafted proposals to provide liquidity through collateral-free loans and subsidised interest rates....
ICRA Sees Credit Growth Picking Up From Second Half Of FY26 On GST Rate Cuts, Falling Deposit Costs
MUMBAI: Credit rating agency Icra Ratings has said bank credit is likely gain traction from the second half of the fiscal, buoyed by the likely consumption boost arising from the GST rate cuts, and falling deposit costs. In Q1, credit growth stood at a low 10.5%, while this was...
Fitch Ups India FY26 GDP Forecast To 6.9% From 6.5% On Domestic Demand
NEW DELHI: Fitch Ratings has raised India’s FY26 economic forecast to 6.9 per cent from 6.5 per cent earlier, saying domestic demand will drive growth as strong real incomes support consumer spending and financial conditions encourage investments. “At the same time, annual growth will slow in the second half...
Equity Mutual Fund Inflows Slip In August On Weak NFOs, Global Jitters
MUMBAI: Inflow in equity mutual funds dropped by 22 per cent to Rs 33,430 crore in August, largely due to a sharp fall in new fund offers (NFOs) and global macroeconomic uncertainties. Despite the decline, this marks the 54th consecutive month of net inflows into the equity segment. Systematic...
India-EU Trade Talks At Critical Stage Amid Hurdles, Officials Tell Parliamentary Panel
NEW DELHI: Negotiations for a Free Trade Agreement (FTA) between India and the European Union (EU) are at an advanced but complex stage, with discussions covering issues such as stringent standards, protectionist regulatory measures, and non-tariff barriers restricting India’s agricultural and industrial exports, top officials told a parliamentary panel....
India’s Bioeconomy Leaps From $10 Billion To $165.7 Billion In 10 Years
NEW DELHI: Over the past decade, India has emerged as one of the fastest-growing bioeconomies in the world, with the sector expanding to $165.7 billion in 2024 from $10 billion in 2014. With an ambitious target of $300 billion by 2030, the bioeconomy is steadily becoming a cornerstone of...
E-Commerce Majors Eye Festive Jackpot After GST Boost
MUMBAI: For Flipkart and Amazon this festive season will not just be about flashy discounts and all-night shopping marathons. With the cut in goods and services tax (GST) on a wide range of consumer goods and fast-moving consumer products, both the e-commerce giants are preparing for what could be...
Engineering Exports To US Face $8-Billion Hit From Tariff Hike
NEW DELHI: India’s engineering exports to the US are projected to decline by $7.5–$8 billion as the entire product basket in the sector now faces 50% tariffs, creating an urgent need for government support.“The business is down 50%. After frontloading of exports before the full tariff impact came into...
SEBI Issues New Rules For Surrendering KRA Licences To Safeguard Interests Of Investors
NEW DELHI: The Securities and Exchange Board of India (Sebi) on Friday issued a circular introducing a structured framework for surrendering KYC Registration Agency (KRA) licences, aimed at ensuring orderly winding down of such entities while protecting investors’ interests. The regulator said the new framework is designed to handle...
India’s 15-Year Defence Plan Includes Nuclear-Powered Carrier, Navy Jets
NEW DELHI: India could build its third aircraft carrier, to be nuclear-powered, as part of a 15-year defence modernisation plan announced on Friday that also includes the use of Indian-made fighter jets by the navy for the first time. Bordered by strategic rivals China and Pakistan, both of whom...
Two-Rate GST Structure Approved; New Rates From September 22
NEW DELHI: The Goods and Services Tax (GST) Council, chaired by Union Finance Minister Nirmala Sitharaman, on Wednesday reached a consensus to move to a simplified two-tier rate structure and exempt individual health and life insurance premiums from GST. However, Opposition-ruled states raised concerns about the lack of a...
Health Ministry Looks To Reduce Drug Development, Approval Timelines
MUMBAI: The Union health ministry is planning to amend the New Drugs and Clinical Trials (NDCT) Rules, 2019 to reduce delays in drug development and approval timelines in the country, with the overall statutory processing time for test licence applications expected to be reduced from 90 to 45 days....
India Services PMI Hits 15-Year High In August
NEW DELHI: The Indian services sector growth touched a 15-year high in August, driven by a sharp rise in new orders and output, amid substantial improvement in demand conditions, a monthly survey said on Wednesday. The seasonally adjusted HSBC India Services PMI Business Activity Index was up from 60.5...
Switzerland Eases Norms To Implement FTA With India
NEW DELHI: Switzerland, the biggest economy of the four-nation European Free Trade Association (EFTA), has adopted all the necessary regulatory amendments to implement the customs concessions agreed in the trade agreement with India. The agreement that was signed in March 2024, will become operational from October 1. Other members...
Indian Shadow Banks’ IPO Boom Falters Amid Mounting Credit Stress
MUMBAI: India’s once-burgeoning pipeline for new stock sales by shadow banks is stalling as strains across the sector prompt lenders to scrap or delay listings. TPG Inc.-backed SK Finance Ltd. and Belstar Microfinance Ltd. are the latest firms to shelve plans for initial public offerings, according to people familiar...
India Seeks WTO Consultations With US Over 50% Duty Imposed On Certain Copper Products
NEW DELHI: India on Tuesday sought consultations with the US under the World Trade Organisation’s (WTO) safeguard agreement over 50 per cent tariffs imposed on certain copper products by America. This move comes after India reserved the right to impose retaliatory duties on select US products in response to...
