Business
Analysts Rule Out More Repo Rate Cuts This Year Amid Inflation Worries
MUMBAI: Most analysts have ruled out further repo rate cuts in 2025 given the hawkish inflation stance that the central bank has taken in the current review wherein it has unanimously voted to leave all the key rates unchanged at 5.5%. Soumyakanti Ghosh, the chief economic advisor to the...
US Doubles Tariff On India To 50% Over Russian Crude Oil Purchases
NEW DELHI: In a significant escalation of trade tensions, the Donald Trump administration on Wednesday imposed a further 25 per cent tariff on Indian exports to the United States (US), blaming New Delhi’s continued purchases of Russian crude oil. The move brings the total tariff burden to 50 per...
India-US Agriculture Trade Set To Touch A New High
NEW DELHI: Even as agriculture, along with purchase of Russian oil, has emerged as a key sticking point in the trade talks between India and the United States, here’s an interesting fact: Trade in farm produce between the two countries is actually booming and poised to touch a new...
Govt Eyes Magnets Push, Supports Foreign Mine Deals
NEW DELHI: As it prepares to roll out a major incentive scheme for domestic manufacturing of rare earth permanent magnets (REPM), the government is also encouraging domestic firms, both public and private, to actively acquire mineral assets overseas to secure a long-term supply of critical raw materials. Official sources...
Substantial Tariff Hike On India In 24 Hours: US President Donald Trump
NEW DELHI: With New Delhi still looking to find ways to respond to the White House threats of increasing tariffs on Indian goods, US President Donald Trump on Tuesday issued a fresh warning saying he would raise tariffs “very substantially” over the next 24 hours because India is buying...
India, Philippines Start Talks For Bilateral Trade Pact
NEW DELHI: India and Philippines on Tuesday exchanged the terms of reference of a Preferential Trade Agreement (PTA) that will build on the liberal terms already offered by Asean-India Trade in Goods Agreement (AITIGA) for bilateral trade. The Philippines as a member of the Association of Southeast Asian Nations...
Indian Services Sector Growth Hits 11-Month High In July On Sharp Rise In Exports, Overall Sales
NEW DELHI: The Indian services sector growth touched an 11 month high in July, supported by a pickup in new exports orders and sharp rise in overall sales, a monthly survey said on Tuesday. The seasonally adjusted HSBC India Services PMI Business Activity Index was at 60.5 in July,...
US Trade Gap Skids To 2-Year Low; Tariffs Exert Pressure On Service Sector
The U.S. trade deficit narrowed in June on a sharp drop in consumer goods imports, and the trade gap with China shrank to its lowest in more than 21 years, the latest evidence of the imprint on global commerce President Donald Trump is making with sweeping tariffs on imported...
NBFCs Have An Opportunity To Expand Investor Base: Crisil
MUMBAI: The rising demand in India’s retail credit market has opened new opportunities for Non-Banking Financial Companies (NBFCs) to expand their investor base, according to a recent report by Crisil Intelligence. The report highlighted the strong and consistent growth seen in the Indian retail credit space and predicts continued...
Banks Go All Out To Woo MSMEs
MUMBAI: India’s MSME lending market is entering a new phase of competitive intensity, with banks slashing rates to woo and retain clients in the Rs 5–30 crore ticket size range. “To retain clients, particularly in the MSMEs space, banks are lending at rates as low as 8.5%,” said a...
Government Mulls Product-Specific Export Sops To Counter US Tariff
NEW DELHI: The government may opt for a product-specific approach as it firms up the policy support to merchandise exporters in the wake of the 25% additional tariff imposed by the United States, the country’s largest export market. Within broad sectors, specific products, where the exporters are directly in...
Trump Tariffs Seen To Bring Down Exports To US By 30% In FY26
NEW DELHI: India’s merchandise exports to the US are projected to contract 30% on year to $ 60.6 billion in the current financial year due to the additional 25% tariffs imposed on India by President Donald Trump, a report said. India now faces a 25% country-specific tariff and an...
NBFCs Nudge RBI For Lower Risk Weight On Loans Against Property
MUMBAI: Non-bank lenders have approached the central bank to ease, among other curbs, prescribed risk weights on products such as loans against property (LAP), arguing the risk profiles of such assets do not justify bracketing them together with unsecured exposures, or even plain-vanilla mortgages. “In our experience, losses on...
India Hits Back At US, EU Over Russian Oil Criticism
NEW DELHI: India on Monday launched a pointed response to criticism from the United States and the European Union over its continued purchase of Russian crude oil, describing the targeting of India as “unjustified and unreasonable.” In an unusually direct statement, the Ministry of External Affairs (MEA) rejected accusations...
Exporters Seek Higher Outlay For Support Schemes, Interest Relief
NEW DELHI: To remain competitive in the US market, exporters from several sectors have sought the government’s support in the form of higher budget outlays for export promotion schemes and a revival of a scheme to reduce the interest outgo on capex and working capital loans. The move comes...
Trump’s Sanction Threat May Push India’s Oil Bill Up By $9–11 Billion
NEW DELHI: India’s annual oil import bill could rise by USD 9-11 billion if the country is compelled to move away from Russian crude in response to US threats of additional tariffs or penalties on Indian exports, analysts said. India, the world’s third-largest oil consumer and importer, has reaped...
Government Plans Rs 5000-Crore Rare Earth Push
NEW DELHI: The government is planning to increase the outlay for the rare earth magnet manufacturing scheme to over Rs 5,000 crore, up from the originally proposed Rs 1,350 crore. In addition, the annual production target is likely to be quadrupled — from 1,500 metric tonne to around 6,000...
30-Member RBI Team To Steer Removal Of Obsolete Regulations
MUMBAI: In a significant stride towards regulatory reform, the Reserve Bank of India (RBI) has set up a 30-member Regulatory Review Cell (RRC), a dedicated internal mechanism, to streamline financial regulations and reinforce systemic resilience. Announced as part of a broader push for modernisation, the RRC is tasked with...
