Business
India Urges BRICS To Mobilise $1.3 Trillion To Achieve Climate Goals
NEW DELHI: India on Thursday urged the Brics (Brazil, Russia, India, China and South Africa) to mobilise $1.3 trillion to strengthen climate financing mechanisms and achieve global sustainable commitments. Stressing the urgent need for equitable carbon budget utilisation, India, at the 11th Brics Environment Ministers’ meeting in Brazil, focused...
Experts See Tough Negotiations With US On Non-Tariff Barriers
NEW DELHI: With the US Trade Representative (USTR) report highlighting India’s non-tariff barriers across multiple sectors, experts caution that any relaxations in government procurement, intellectual property (IP), and data localisation should be weighed carefully, keeping the interests of the domestic industry in mind. Ahead of the reciprocal tariff imposition...
Indian Textile Exporters To Get An Edge Over Key Competitors
NEW DELHI: US President Donald Trump’s decision to impose universal reciprocal tariffs on imports has given India’s textile industry—especially apparel exporters—an edge over competitors like Vietnam, Bangladesh, and China, which face even higher tariffs. The Trump administration on Thursday announced a flat 27% tariff on Indian goods with some...
Lenders Urge RBI To Return To Daily Overnight Borrowing Window To Improve Liquidity
MUMBAI: Lenders want the central bank to move back to the daily overnight borrowing window as the main cash management tool to help improve overall systemic liquidity – a prerequisite for quicker transmission of reductions in policy rates. Bankers made this request to the Reserve Bank of India (RBI)...
Rupee Pares Initial Losses, Settles 22 Paise Up At 85.30 Against US Dollar
MUMBAI: The rupee pared its initial losses and settled for the day higher by 22 paise at 85.30 (provisional) against the US dollar on Thursday as the greenback weakened against its major peers after President Donald Trump unleashed reciprocal tariffs on about 60 countries. The domestic unit had witnessed...
Vigilance Department Helps Prevent Revenue Leaks In Northern Railways
NEW DELHI: The Northern Railway Vigilance Department has made commendable achievements towards maintaining transparency, avoiding malpractices, and strengthening financial integrity in the year 2024-2025 like previous years. With the help of advanced technology and persistent investigation, the department was able to overcome growing challenges, maintain accountability, and safeguard the...
US Retaliatory Tariffs Major Setback For Indian Gems, Jewellery Exports: Industry
MUMBAI: The US retaliatory tariffs are a major setback for the Indian gems and jewellery exports, apex industry body GJEPC said on Thursday as it urged the Union Government to take steps to secure the long-term interests of the sector. The US has announced 27 per cent reciprocal tariffs...
Indian IT Services To Be Directly Hit By US Tariffs
NEW DELHI: Export-led Indian IT sector will not be directly hit by US President Donald Trump’s tariff order on goods, but there could be worrisome indirect bearings on it due to possible slowdown in decision-making and GDP growth in America due to higher tariffs, which may then cloud the...
No Fee To Be Charged For Updation Of Nominees For PPF Accounts: FM
NEW DELHI: Finance Minister Nirmala Sitharaman on Thursday said no fee will be charged for the updation or addition of nominees for Public Provident Fund (PPF) accounts as the government has done necessary changes through notification. Recently, it was informed that a fee was being levied by financial institutions...
USTR Report Turns Up The Heat On India On Trade And Tariff Issues
NEW DELHI: Ahead of the imposition of reciprocal tariffs on April 2, the United States has raised concerns over India’s high import tariffs in key sectors, such as automobiles, agricultural goods, medicines, and alcohol. It also flagged what it described as “sudden” tariff changes and regulatory hurdles that act...
Project Capex Intent Falls To A 3-Year Low In FY25
MUMBAI/NEW DELHI: The wait for a new capex cycle only appears to get longer. The value of new projects announced by the private sector was up just 3.3% on year in the March quarter, causing its share in all projects unveiled to decline to 69% from around 82% in...
100% FDI In Insurance A Step Forward, But Safeguards Unclear: USTR Report
MUMBAI: While India has announced raising the cap on foreign direct investment (FDI) in insurance from 74 per cent to 100 per cent, it remains unclear whether certain safeguards for domestic firms introduced in 2021 will be removed, says a report by the Office of the United States Trade...
Banking Liquidity Turns Positive After Three Months
MUMBAI: The Reserve Bank of India’s aggressive fund infusion in the past few months is beginning to show results, as the banking system’s liquidity position turned surplus at the end of March — the first time in three months. The banking system’s liquidity stood at a surplus of Rs...
India Can Still Be Competitive Despite Reciprocal Tariffs: PwC Report
NEW DELHI: US tariffs on Chinese goods could create new opportunities for Indian exporters, particularly in electronics, textiles, and engineering goods, where Indian businesses may remain competitive even after reciprocal tariffs, according to a PwC report. In the booming smartphone export sector, even if Indian smartphone imports into the...
Markets Bounce Back In Early Trade After Falling Sharply In Previous Session
MUMBAI: Stock market benchmark indices rebounded in early trade on Wednesday after a sharp decline in the previous session, driven by buying in blue-chip stocks such as HDFC Bank and ICICI Bank. The 30-share BSE benchmark Sensex rebounded 256.82 points to 76,281.33 in early trade. The NSE Nifty climbed...
India Has 4th Largest Foreign Exchange Reserve; Can Take Care Of Imports: Finance Minister
NEW DELHI: India is the fourth largest country to hold foreign exchange reserves of $658.8 billion, enough to meet the country’s imports for 11 months, Finance Minister Nirmala Sitharaman told the Rajya Sabha on Tuesday. Replying to supplementaries during the question hour, she assured members of their concerns on...
RBI, Government To Work Together For Macroeconomic Stability: President
MUMBAI: Heaping praise on the Reserve Bank of India (RBI) for being “at the very centre of India’s incredible growth story”, President Droupadi Murmu said on Tuesday that the RBI had earned this trust by steadfastly maintaining its mandate of price stability, growth, and financial stability. Speaking at the...
India’s Growth To Be Highest Amongst Advanced, Emerging G20 Nations: Moody’s
NEW DELHI: Moody’s Ratings on Tuesday said India’s growth at 6.5 per cent this fiscal will remain the highest amongst the advanced and emerging G-20 countries, supported by tax measures and continued monetary easing, and the country will continue to attract capital and withstand any cross-border outflow. In its...
