Business
India To Become $5 Trillion Economy By 2027: Piyush Goyal
KOLKATA: Union Commerce and Industry Minister Piyush Goyal said India is firmly on track to become a $5 trillion economy by 2027 despite global turbulence, driven by a collective national effort and strong leadership under Prime Minister Narendra Modi. Speaking at a virtual session organised by the Merchants’ Chamber...
India Among Top Fintech Hotspots Globally: WEF Study
NEW DELHI: A new global study on Wednesday listed India among the top fintech hotspots alongside the US and the UK. The World Economic Forum (WEF) study, released at its Annual Meeting of New Champions in China’s Tianjin, also said the fintech sector growth is stabilising amid strengthening profitability...
India Backs BRICS Statement, Shows ‘Grave Concern’ Over Strikes Against Iran
NEW DELHI: The BRICS countries have expressed “grave concern” over military strikes against Iran in “violation of international law and the United Nations Charter,” and called for an urgent need to break the cycle of violence and restore peace. In a joint statement on Wednesday, the influential bloc comprising...
India-UK FTA To Include Co-Equal Origin Provision; Product-Specific Norms To Offer Flexibility
NEW DELHI: The draft India–UK free trade agreement (FTA) has introduced a “coequal” rule or product-specific origin norms to offer greater flexibility to specific goods, said people aware of the matter. The rule will allow the producer of a good to meet any of the criteria of origin to...
S&P Ups India’s FY26 GDP Growth Estimates To 6.5%
NEW DELHI: S&P Global Ratings on Tuesday upped India’s GDP growth forecast for the current fiscal to 6.5 per cent, citing lower crude prices, monetary easing and normal monsoon, and said the ongoing geopolitical tensions are unlikely to put a “significant pressure” on the rupee or inflation. In its...
India’s Rising Household Debt May Impact Auto Fuel Consumption, Warns IEA
NEW DELHI: The International Energy Agency (IEA) has warned that the boom in consumption of auto fuels in India, particularly petrol and aviation turbine fuel (ATF), is largely debt-fuelled, and raised concerns that rising household debt may impact the usage trend. The IEA, in its latest report, projected that...
FM Rebuts ‘Tariff King’ Tag For India, Upcoming FTAs To Boost Exports
NEW DELHI: Rebutting “tariff king” charge against India, finance minister Nirmala Sitharaman on Tuesday said free trade agreements (FTAs) with the United States and the European Union (EU) could materialise soon, and would empower Indian exporters and foster export-led growth. In the Budget for 2025-26, the minister said, the...
RBI To Conduct Rs 1 Lakh-Crore Variable Rate Reverse Repo Auction On Friday
MUMBAI: In a role reversal, the Reserve Bank of India (RBI) announced on Tuesday a variable rate reverse repo (VRRR) auction, a measure through which the regulator sucks out excess liquidity from the system. In a release, the apex bank said it will conduct a seven-day VRRR of Rs...
Adani Group To Invest $15-20 Billion Across Businesses In 5 Years
NEW DELHI: The Adani Group plans to invest a record $15-20 billion across businesses over the next five years to chart out the next phase of growth, Chairman Gautam Adani said on Tuesday as he touted the conglomerate’s strong balance sheet and robust business to shrug off relentless scrutiny...
Government ‘Confident’ Of Early-Phase Trade Deal With US By July 9
NEW DELHI: The government is ‘confident’ that the early tranche of the bilateral trade agreement (BTA) with the United States will be signed by the July 9 deadline, even as last-minute negotiations are under way to iron out certain critical differences in areas like agriculture, a top official told...
India May Face Fiscal And Monetary Policy Challenges If War Intensifies
NEW DELHI: The Iran-Israel tensions, escalated by the US bombing of Tehran’s nuclear installations may deliver additional external shocks to the India’s economy. Worse, the West Asian crisis comes at a time the economy was already facing a slowdown. There are challenges on multiple fronts: from inflationary and fiscal...
Retail Credit Market Grows At Slower Pace In Q4 FY25: Report
NEW DELHI: The retail credit market continued to see a softening in the last quarter of 2024–25, as new loan originations (partly a measure of credit demand and supply) grew at a slower rate of 5 per cent in March 2025 against 12 per cent a year ago, according...
Repo Cuts, Regulatory Easing To Boost Credit Growth To 12-13% This Fiscal
MUMBAI: Accommodative monetary policy and easing funding conditions will help banks grow their assets a tad better this fiscal at 12-13%, over 10.6% in the previous fiscal, an international rating agency has said but has flagged the need to improve deposit mobilisation to maintain the nearly 120 bps improvement...
PMI Touches 14-Month High, Private Sector Gains Momentum
NEW DELHI: India’s private sector activity accelerated sharply in June as companies ramped up production to meet surging domestic and international demand, according to a survey released on Monday that showed record export growth and robust hiring. The HSBC Flash India Composite Purchasing Managers’ Index (PMI), compiled by S&P...
PPP Gets A Leg Up, Rs 86,000-Crore Projects Approved Since January
NEW DELHI: Public private partnership (PPP) projects are making a strong comeback as the government looks to rope in private investors to sustain the investment momentum in the economy. So far in 2025, the Centre has approved PPP projects worth Rs 86,000 crore across a wide spectrum of sectors,...
More Renewable Energy Projects Cross PPA Hurdle
NEW DELHI: The backlog of renewable energy (RE) projects that lack power purchase agreements (PPA) has declined sharply to 30 giga watt (GW) now, compared with around 40 GW in April, official sources said. A number of RE projects have signed the PPAs over the last few weeks, under...
India Ramps Up Oil Imports From Russia, US In June
India has ramped up purchases of Russian oil in June, importing more than the combined volumes from Middle Eastern suppliers such as Saudi Arabia and Iraq, amid market volatility triggered by Israel’s dramatic attack on Iran. The US military struck three sites in Iran early Sunday, directly joining Israel...
