NEW DELHI: India’s aluminium tariff regime is pushing the country towards becoming a supplier of raw metal rather than a global manufacturing hub, with a majority of aluminium exports leaving the country in primary form even as imports of finished products continue to rise, according to a report released...
NEW DELHI: India has managed to secure a virtual exemption from the UK’s controversial steel safeguard tariff measures, paving the way for the implementation of the Comprehensive Economic and Trade agreement (CETA) between the two countries starting July 15. The measures, set to come into force from July 1,...
BHUBANESWAR: Artificial intelligence (AI) is rapidly rewriting the rules of hiring, workforce development and career progression, with AI already performing nearly one-third of all entry-level tasks and fundamentally reshaping what employers expect from new recruits, according to a new global study by Cognizant and Pearson. The report, The AI...
NEW DELHI: The India-European Union (EU) trade deal will be formally signed by the end of the year, and the two sides will accelerate work on an investment agreement, European Commission President Ursula von der Leyen said on Wednesday after her meeting with Prime Minister (PM) Narendra Modi on...
MUMBAI: India’s remittance inflows have remained resilient despite the West Asia conflict, with precautionary transfers keeping flows elevated even as economic activity in parts of the Gulf region faced disruptions. While bankers expect some moderation in growth as geopolitical tensions ease, remittances are likely to remain broadly stable this...
NEW DELHI: The Comprehensive Economic and Trade Agreement (CETA) between India and the United Kingdom will come into force from July 15 with both sides reaching an understanding on the last-leg issues around Britain’s steel safeguard measures. The date for Entry into Force (EIF) of the agreement was announced...
NEW DELHI: Indian information technology services companies paid premium valuations for acquisitions focused on artificial intelligence and engineering capabilities in FY26, as firms increased spending on specialised talent, intellectual property and platforms. Indian IT firms invested about $5.5 billion across 19 acquisitions during the year, according to an analysis...
MUMBAI: The Insurance Regulatory and Development Authority of India (Irdai) on Wednesday proposed a framework for making regulations and issuing subsidiary instructions under the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025. The draft regulation seeks to standardise the process for framing, amending and reviewing regulations, while...
NEW DELHI: Eighteen of India’s 28 states overshot the fiscal deficit ceiling of 3 per cent of gross state domestic product (GSDP) in FY25, the third annual review of state finances released by the Comptroller and Auditor General (CAG) on Tuesday showed, noting that the deterioration is comparable only...
NEW DELHI: India needs tax reforms, stronger secondary-market liquidity and a broader investor and issuer base to deepen its corporate bond market, which remains small relative to the country’s financing needs and heavily dependent on a narrow set of participants, according to a report by CareEdge Ratings. The report...
NEW DELHI: India’s latest trade data show a geographical realignment in the nation’s trade balance. While India’s trade surplus with traditional partners such as the US and the Netherlands narrowed in the first two months of FY27, the trade balance with regions such as Asia and Africa swung decisively...
NEW DELHI: Markets regulator Sebi on Tuesday issued guidelines to permit Alternative Investment Funds (AIFs) to retain liquidation proceeds beyond their permissible fund life under specified circumstances. The regulator also introduced an ‘Inoperative Fund’ framework for wound-up funds with residual obligations. The move follows amendments to the Sebi (Alternative...
MUMBAI: The Reserve Bank of India’s (RBI) incentives to attract Foreign Currency Non-Resident (Bank) (FCNR(B) deposits have prompted leading private-sector banks to approach overseas lenders with proposals aimed at financing their non-resident Indian (NRI) clients and encouraging them to place funds through this route. “Foreign banks will gain access...
NEW DELHI: India’s wholesale price inflation (WPI) accelerated to an at least three-year high of 9.68 per cent in May from 8.26 per cent in April, driven by a sharp rise in energy prices amid the West Asia crisis, the Ministry of Commerce and Industry said on Monday. The...
NEW DELHI: India’s exports climbed to a six-month high of 18 per cent to $45.2 billion in May, while trade deficit widened to $28.21 billion, driven by increased imports of petroleum products amid higher crude oil prices. However, the trade deficit narrowed marginally on a month-on-month basis compared to...
MUMBAI: The Reserve Bank of India (RBI) has permitted authorised dealer (AD) banks to open repatriable rupee accounts for overseas individuals investing in listed Indian companies, operationalising the government’s move to broaden participation in the domestic equity market beyond Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs). The...
NEW DELHI: The US-Iran tentative deal to end their 107-day conflict and reopen the Strait of Hormuz could at once boost India’s economic sentiments, ease an already evident pressure on the fisc, avert an emergent balance of payments problem, and help the rupee to hold against the dollar, economists...
NEW DELHI: Overall unemployment rate for persons aged 15 years and above has dipped marginally to 5.5 per cent in May compared to 5.6 per cent a year ago, as shown by the Periodic Labour Force Survey (PLFS) released by the National Statistics Office on Monday. According to the...