Business
Investor Wealth Erode By Rs 11.30 Lakh Crore Since Tariffs
NEW DELHI: Investors’ wealth eroded by Rs 11.30 lakh crore since early this month, where the BSE benchmark Sensex tumbled nearly 2 per cent, as stock markets experienced turbulence in recent times initially due to US President Donald Trump unveiling a massive tariff plan, followed by growing concerns of...
Government To Skip Zero Tariff Option In Trade Deal Talks With US
NEW DELHI: The government has decided to steer clear of the option of zero-for-zero tariff policy under the ongoing negotiations with the United States for a bilateral trade agreement (BTA), according to an official source. This is due to the realisation that given the country’s relatively low per capita...
India Unlikely To Raise Dispute Against US At WTO Over Reciprocal Tariff
India is unlikely to launch a dispute at the World Trade Organisation (WTO) against the United States over reciprocal tariffs, as both sides are currently engaged in negotiations aimed at reaching a trade deal. This comes despite India seeking consultation with the US at the WTO on the 25...
Government Plans Rs 10 Lakh-Crore Investment To Rewire Highways
NEW DELHI: The Centre is planning to invest Rs 10 lakh crore over the next two years to improve highways across the country, with special focus on the northeast, where roads will rival those in the US, road transport and highways minister Nitin Gadkari said. In an interview to...
Banks Seek Common Insurance Repository, Shared Customer Data Access To Curb Policy-Backed Loan Fraud
NEW DELHI: Banks have pitched for creation of a common insurance repository and shared access to key customer data to help curb fraud in loans backed by life insurance policies. The suggestion was made to the government earlier this month after discussions centered on strengthening KYC norms and enhancing...
Amid Trade Talks, GAIL Goes Scouting For US LNG Stake, 15-Year Supply Deal
NEW DELHI: Amid ongoing tariff talks, India is stepping on the gas — literally — to reduce its trade surplus with the US in the hope of an early deal. State-run gas utility GAIL has invited expressions of interest for acquiring upto 26% stake in a US LNG (liquefied...
Industrial Output Growth Slows To 6-Month Low Of 2.9% In February
NEW DELHI: Growth in industrial production slowed to a six-month low at 2.9 per cent in February this year as a high base and lacklustre demand pulled it down. In February 2024, the index of industrial production (IIP) grew 5.6 per cent aided by the leap year, while in...
‘Win-Win’ Trade Deal With Us Likely Soon
NEW DELHI: The planned bilateral trade agreement (BTA) between India and the US might take a “win-win shape and form,” before the 90-day window created by the pause on full reciprocal tariffs, a senior government functionary said on Friday. The two sides, the person said, have already finalised terms...
Digital Foundation Will Power AI In India: Nandan Nilekani
NEW DELHI: India is on the cusp of a transformative phase where the country’s robust digital public infrastructure could be combined with the power of artificial intelligence to unlock innovations at an unprecedented scale, Infosys chairman and Aadhaar architect, Nandan Nilekani said on Friday. Speaking at the Global Technology...
Showing Steady Retail Interest, SIP Flows Stay Robust At Rs 25,926 Crore In March
MUMBAI: Flows through systematic investment plan (SIPs) stayed robust in March and fell only marginally to Rs 25,926 crore, even as the overall industry saw an outflow led by debt funds, revealed data from Association of Mutual Funds in India (Amfi) on Friday. “The mutual fund industry has demonstrated...
India Not Encouraging FDI From China: Piyush Goyal
NEW DELHI: India does not intend to encourage foreign direct investments (FDI) from China, Commerce and Industry Minister Piyush Goyal said on Friday, indicating New Delhi’s intentions of not easing overseas investment curbs imposed on the neighbouring country in 2020. FDI applications from countries sharing land borders, such as...
ASEAN Accounts For 11% Of India’s Global Trade: Centre
NEW DELHI: ASEAN remains a pivotal trade partner for India, accounting for approximately 11 per cent of India’s global trade, the government has said. In the fiscal year 2023-24, bilateral trade between India and ASEAN reached $121 billion, this was conveyed at the 8th meeting of the AITIGA Joint...
India, 62 Other Countries Vote In Favour Of First Global Carbon Tax On Shipping
NEW DELHI: India and 62 other countries voted in favour of the world’s first-ever global carbon tax imposed on the shipping industry by the United Nations’ shipping agency. The decision, taken at the International Maritime Organisation (IMO) headquarters in London on Friday after a week of intense negotiations, aims...
Rupee Upticks 61 Paise To Settle At 86.07 Against US$
MUMBAI: The rupee surged 61 paise against the greenback to settle at 86.07 (provisional) on Friday due to a sharp correction in the US dollar and a strong rebound in the domestic equity markets. The surge in the local unit came a day after US President Donald Trump suspended...
Equity MF, SIP Inflows Drop On Tariff Concerns
NEW DELHI: Inflow in equity mutual funds (MFs) declined to an 11-month low at Rs 25,082 crore in March primarily due to sharp redemption in sectoral and thematic funds amid continued market volatility spurred by tariff concerns. This was the third consecutive month of a decline in inflow in...
Maintain Strict Vigil On Imports, Exports Ministry Tells Customs
NEW DELHI: The commerce ministry has alerted the customs authorities to maintain strict vigilance on imports and exports amid concerns about possible dumping of goods and re-routing of consignments from India to third countries following imposition of high tariffs by the US on China, an official said. As sweeping...
India Eyes Trade Pact Push As US Pauses Reciprocal Tariffs For 3 Months
NEW DELHI: With US President Donald Trump “temporarily suspending” country-specific reciprocal tariffs until July 9, India sees the three-month window as an opportunity to renew its push for a proposed bilateral trade agreement (BTA) with the US and expedite finalisation of the first tranche of the trade deal. “The...
India Eyes Export Gains As US-China Trade War Opens Market Opportunities
NEW DELHI: The commerce and industry ministry has begun work on identifying export opportunities emanating from the US-China trade war even as officials said that the 90-day reprieve to the Indian exporters would give them and their overseas buyers time to share the burden of additional 10% tariffs with...
