Business
India Adds 2.46 Million Wireless Subscribers In June 2025, Led By Urban Growth
NEW DELHI: India’s total wireless phone subscriber base, including mobile and 5G Fixed Wireless Access (FWA), rose to 1170.88 million at the end of June 2025, registering a monthly growth rate of 0.21 per cent, according to the latest data release by Telecom Regulatory Authority of India (TRAI). This...
Indian Economy Has Look, Feel Of ‘Steady As She Goes’ For FY26
NEW DELHI: Indian economy has the look and feel of “steady as she goes” for the current fiscal, the Finance Ministry said on Monday even as it flagged slowing credit growth. In its monthly economic review, the ministry said the first quarter of fiscal 2025-26 (FY26) presents a picture...
Industrial Output Growth Slows To 10-Month Low Of 1.5 Per Cent In June
NEW DELHI: Industrial output growth slumped to a 10-month low of 1.5% in June as mining and electricity sectors contracted sharply, causing the Index of Industrial Production (IIP) to rise at an 11-quarter low rate of 2% in April-June quarter. The IIP had risen 1.9% in May and 4.9%...
Govt Begins Consultations To Ready Industry For UK Trade Deal Gains
NEW DELHI: To prepare the industry for the opportunities opened up by the Comprehensive Economic and Trade Agreement (CETA) with the UK, the ministry of commerce and industry on Monday held a meeting with the textile, leather and footwear sectors. The aim of the meeting was to inform the...
Foreign Investors Trim Stakes In PSU Banks Amid High Valuation And Sectoral Reassessment
MUMBAI: Foreign Institutional Investors (FIIs) have pared their holdings in public sector undertaking (PSU) banks during Q1FY26, signalling near-term caution after a robust FY25 rally. Data shows the average foreign portfolio investment (FPI) in PSU banks eased from 4.60% in Q4FY25 to 4.44% in Q1FY26, as investors selectively rebalanced...
100% FDI To Help Unlock Full Potential Of Insurance Sector: Finance Minister
NEW DELHI: The proposed increase in foreign direct investment (FDI) limit from 74% to 100% for insurance companies may unlock the full potential of the sector, which is projected to grow at 7.1% annually over the next five years, finance minister Nirmala Sitharaman told Lok Sabha on Monday. The...
India, UK Seal Historic Trade Deal; Set To Double Bilateral Trade To $112 Billion By 2030
NEW DELHI: India and the United Kingdom (UK) on Thursday entered into a landmark Comprehensive Economic and Trade Agreement (CETA) that will at once ease India’s access to the island nation’s merchandise market, spur investments flows over the next few years, and pave the way for greater exchange of...
India Targets 100% Population Coverage With 4G And 90% With 5G In Draft Of New Telecom Policy
NEW DELHI: The Centre has set up targets to achieve 100% population coverage with 4G and 90% coverage with 5G, as per the draft of the National Telecom Policy 2025 (NTP-25). The policy also aims to double the telecom sector’s contribution to India’s Gross Domestic Product (GDP) and attract...
Industry Leaders From Both Countries Hail India–UK FTA Deal
NEW DELHI: Industry leaders from both India and the UK gave a resounding welcome to the signing of the India–UK Free Trade Agreement (FTA), describing it as a forward-looking framework that could redefine economic collaboration between the two countries. A 16-member delegation of Indian business leaders accompanied Prime Minister...
RBI To Hold Rates In August, Expected To Cut Again Later This Year: Poll
MUMBAI: The Reserve Bank of India will hold its key repo rate at 5.50% next month following a surprisingly bigger-than-expected cut in June, but will lower it again by year-end, according to the latest Reuters poll of economists. Subdued inflation has allowed policymakers room to cut rates but with...
UK-India FTA Waives Off Double Social Security For Workers
NEW DELHI: Around 75,000 Indian workers on short-term visa in the United Kingdom (UK) and 900 employers there are expected to benefit from the Double Contribution Convention (DCC), which came into force, along with the signing of UK-India Comprehensive and Economic Trade Agreement (CETA) between the two countries on...
RBI Paper Says 10% Jump In Crude Prices Can Push Inflation Up By 0.2%
NEW DELHI: A 10 per cent increase in global crude oil prices can raise the domestic headline inflation by 0.20 per cent, a paper by RBI staffers released on Wednesday said. The paper on oil price and inflation nexus in India by Sujata Kundu, Soumasree Tewari and Indranil Bhattacharyya...
ADB Lowers India’s FY26 Growth Forecast To 6.5% On Trade Concerns
NEW DELHI: The Asian Development Bank (ADB) on Wednesday lowered India’s growth forecast for FY26 to 6.5 per cent from 6.7 per cent on account of trade uncertainty and higher US tariffs that are expected to impact exports and investment. Despite the downward revision from the April 2025 Asian...
India To Be Third-Largest Economy By 2028, To Reach $10.6 Trillion By 2035: Morgan Stanley
NEW DELHI: A Morgan Stanley report on Wednesday said it expects India’s economy to be the third-largest globally by 2028 and more than double in size to $10.6 trillion by 2035. Embedded in this forecast is the likelihood that three to five states (Maharashtra, Tamil Nadu, Gujarat, Uttar Pradesh...
RBI Short-Term Liquidity Injection Gets Good Response
MUMBAI: A day after the weighted average call rate (WACR) went above the repo rate (5.50%) for the first time in the current financial year, the Reserve Bank of India’s (RBI) two-day variable rate repo auction on Wednesday to inject short-term liquidity saw significant response from banks. The participants...
India’s Petroleum Products Export Decline 3% During Q1FY26
NEW DELHI: India’s exports of petroleum products declined by 3% in volume terms to 14.5 million tonnes in the first quarter of the financial year 2025-26, compared to 15.0 million tonnes in the same period of FY25, according to data from the Petroleum Planning and Analysis Cell. In value...
Government To Make Unified Pension Scheme More Attractive
NEW DELHI: The Centre may further incentivise the guaranteed unified pension scheme (UPS) in a bid to increase acceptability among its 2.7 million-strong staff. The additional benefits may include pension for dependent children, more likely for single parents, and an assurance that tax benefits linked to UPS won’t be...
India, UK To Sign Free Trade Deal During PM Modi’s Visit, Cut Tariffs On Whisky, Garments
NEW DELHI: India and Britain will sign a free trade agreement on Thursday during Prime Minister Narendra Modi’s UK visit, officials said, with New Delhi to ease tariffs on British whisky, cars and some food items, and the UK offering duty-free access to Indian textiles and electric vehicles. The...
