Business
Free Trade Pact With Oman Soon: Piyush Goyal
NEW DELHI: The negotiations on the free trade agreement (FTA) between India and Oman could be concluded very soon, Commerce and Industry Minister Piyush Goyal said on Monday. “I think you will see some good news very soon on the Oman FTA,” the minister told reporters here when asked...
ADB Announces $10 Billion Plan To Transform India’s Urban Infra, Services
NEW DELHI: Asian Development Bank (ADB) President Masato Kanda has announced a five-year plan to mobilise up to $10 billion, including third-party capital, to enhance the India’s urban infrastructure and services. The plan was unveiled after Kanda’s meeting with Prime Minister Narendra Modi. The plan will focus on metro...
RBI Expected To Deliver Rate Cut On Friday: Experts
MUMBAI: The Reserve Bank is likely to go for a third consecutive rate cut of 25 basis points on Friday as inflation continues to remain below the median target of four per cent, to push growth amid continued global uncertainty triggered by the US tariff moves. Reserve Bank’s rate-setting...
Singapore Remains India’s Largest FDI Source For Seventh Straight Fiscal
NEW DELHI: Singapore continued to be India’s largest source of foreign direct investment (FDI) for the last seven years, as the country received the highest inflows of about $15 billion in 2024-25. The overseas inflow grew 13 per cent to $50 billion in the last fiscal. The total FDI,...
Government Slashes APM Gas Price For First Time In Two Years
NEW DELHI: For the first time in two years, the government has reduced the price of natural gas used for producing CNG for vehicles and cooking gas, reflecting a decline in benchmark rates. The price of natural gas from legacy fields allocated to state-owned ONGC without auction has been...
Underlying Weakness May Be Behind Surge In Outbound FDI
MUMBAI: India’s outbound investments jumped 75% to $29.2 billion in FY25, while foreign firms repatriated a massive $51 billion from the country. Yet, gross foreign direct investment (FDI) in the last fiscal saw a satisfactory growth of 14% to $81 billion, including equity inflows exceeding $50 billion. So, there...
India Likely To Become 4th Largest Economy In FY26
NEW DELHI: India is likely to become the world’s fourth largest economy in the current fiscal on the back of its projected record-beating growth rate of 6.3-6.8 per cent that would help it overtake Japan. India recorded a growth of 6.5 per cent for the financial year ended March...
Centre Manages To Meet 4.8 Per Cent Fiscal Deficit For FY25
NEW DELHI: The central government managed to meet the fiscal deficit target of 4.8 per cent of the GDP for 2024-25, according to the provisional data released by the Controller General of Accounts on Friday. In the revised estimates (RE) presented to Parliament in February, the government had pegged...
Consumption Picks Up In FY25 On Rural Demand, Shows NSO Data
NEW DELHI: Growth in the private final consumption expenditure (PFCE), which is taken as a proxy for consumption demand in the economy, outpaced gross domestic product (GDP) growth in 2024-25 (FY25), even as the consumption demand slowed to a five-quarter low in the fourth quarter (Q4) of the financial...
National Manufacturing Mission To Be Unveiled In A Month: NITI CEO
NEW DELHI: The National Manufacturing Mission, expected to be unveiled within a month, will include a dedicated body with the requisite “teeth” to address emerging challenges in a time-bound manner and elevate India’s manufacturing sector, NITI Aayog CEO BVR Subrahmanyam said on Friday. In the Union Budget FY26, the...
RBI Eyes Bank-Like Rate Norms For NBFCs To Plug Policy Gaps
MUMBAI: RBI is looking to introduce interest rate rules for non-banking finance companies similar to those that govern banks. The goal is to improve how changes in monetary policy pass through to borrowers and to make loan pricing more transparent. As of now, when RBI changes its benchmark repo...
Business Collaborations For A Circular Economy Via FTA To Boost EU-India Ties
NEW DELHI: With ongoing free trade agreement (FTA) talks, businesses for the circular economy will unlock circular value and further enhance collaborations and relations between India and the European Union (EU), said an EU official on Thursday, indicating that circular economy is part of the FTA talks. In June...
India Must Bridge Trust Gap To Escape Middle-Income Trap: Chief Economic Advisor
NEW DELHI: Chief Economic Advisor V. Ananth Nageswaran delivered a stark warning to India’s industry leaders today, identifying a critical “trust deficit” and unsustainable economic imbalances as key threats to the nation’s ambition of becoming a developed economy by 2047. Speaking at the CII Annual Business Summit, Chief Economic...
Telecom Industry Eyes Spectrum Auction Reforms As DoT Engages TRAI
CHENNAI: India’s telecom market—one of the most dynamic and distinctive in the world—is shaped by its massive scale, price sensitivity, regulatory complexities, and rapid technological evolution. The industry, in line with these changes, also anticipates key changes in the spectrum auction process. A recent move by the Department of...
Net Household Financial Savings Rebound, India To Lead Growth In FY26: RBI
MUMBAI: India’s household financial savings rebounded to 5.1 per cent of gross national disposable income (GNDI) in 2023–24, according to the Reserve Bank of India’s (RBI’s) annual report for 2024-25, after falling to a multi-year low the previous year. The rebound comes amid a favourable economic outlook and moderating...
India’s Defence Production Hits All-Time High Of ₹1.46 Trillion In FY25
NEW DELHI: India’s annual defence production reached an all-time high of ₹1.46 trillion in 2024-25 (FY25), marking an almost 15 per cent jump from the previous record of ₹1.27 trillion in FY24, Defence Minister Rajnath Singh said on Thursday. He said that defence exports also hit a record high...
Industrial Output Growth Dips To 2.7% In April, Lowest In Eight Months
NEW DELHI: Growth in industrial production fell to an eight-month low of 2.7 per cent in April from an upward revised figure of 3.94 per cent in March due to high base effect and a sequential decline registered in the output of the mining sector, according to data released...
India-US Interim Trade Deal Likely Before June 25
NEW DELHI: The much-awaited interim trade deal between the US and India may be advanced, and take place before June 25, according to official sources. A team of US negotiators are expected in India early next month, with a view to taking forward the talks from where they were...
