Business
RBI Board Approves Record Surplus Transfer Of ₹2.69 Trillion To Government
MUMBAI: The central board of the Reserve Bank of India (RBI) on Friday approved a record ₹2.69 trillion surplus transfer to the government for the financial year 2024-25, even after maintaining the contingent risk buffer at 7.5 per cent — the upper end of a new range it approved...
Interim Trade Deal With US May Be Clinched Soon
NEW DELHI: Commerce and industry minister Piyush Goyal met US Commerce Secretary Howard Lutnick late last night for the second meeting within a week as both sides further intensified efforts to agree to the first tranche of Bilateral Trade Agreement (BTA) before the autumn deadline. The meeting came after...
Indian Firms Opt For Smaller IPOs In Volatile Market
MUMBAI: After two months of muted activity, some amount of buzz is returning to the primary market. However, owing to the volatility due to US President Donald Trump’s tariff threats followed by India-Pakistan conflict, most companies are opting for smaller-sized IPOs. Those issues which were filed before the current...
India May Open $700 Billion Public Procurement Market To Foreign Firms
NEW DELHI: India is preparing to open its protected government procurement market to foreign firms, including those from the United States, a Reuters report quoted two senior government officials as saying. According to the report, India is likely to allow US companies to bid for contracts valued at over...
Low Use Of ASEAN FTA Under Review; Aim Is To Eliminate Barriers
NEW DELHI: The government is examining the causes for the low utilisation of India’s free trade agreement (FTA) with the Association of Southeast Asian Nations (ASEAN) bloc, particularly Thailand. The commerce and industry ministry has assessed that the utilisation of the preferential route under the ASEAN-India Trade in Goods...
India To Surpass China In Oil Demand Growth Over Next Decade: Moody’s
NEW DELHI: China drove global oil demand growth over the last decade, but now India is poised to take the lead in demand growth over the next decade, according to a latest report by Moody’s Ratings. China and India are No. 2 and No.3 oil consumers in the world....
Govt To Have A Say In New Payments Regulatory Board With A Significant Role
MUMBAI: In a major overhaul of the payments ecosystem, the Centre has notified the ‘Payments Regulatory Board Regulations, 2025’ to pave the way for a new Payments Regulatory Board (PRB) which will have significant representation from the government, and replace the Board for Regulation and Supervision of Payment and...
India-Oman FTA Close; Wider Jobs Window For India Likely
NEW DELHI: The talks on India-Oman free trade agreement have reached the final stages with both countries now engaged in sorting out a few remaining demands by New Delhi for safeguards from the frequent changes in the “Omanisation policy,” a senior official said. Under the policy, Oman mandates that...
RBI Bulletin Sees High Gold Prices Pushing Core Inflation
MUMBAI: While core inflation has inched up in recent months and came in at 18-month high of 4.21% in April, an article in the Reserve Bank of India bulletin highlighted that highly elevated gold prices is the reason behind the trend. This boosts chances of back-to-back cut in the...
India’s Business Activity Rises To A 13-Month High Of 61.2 In May On Services Sector: PMI Data
NEW DELHI: India’s private sector growth moved up a gear during the month of May with the HSBC Flash India Composite PMI Output Index climbing to a 13-month high of 61.2 in comparison to 59.7 in the previous month, preliminary data compiled by S&P Global showed on Thursday. The...
India Seeks ‘Full Exemption’ From 26% Tariff In Trade Deal With US
NEW DELHI: India and the US may announce an interim trade agreement before July 8, with New Delhi seeking full exemption from the additional 26 per cent tariff on domestic goods, an official said. The US on April 2 imposed an additional 26 per cent reciprocal tariff on Indian...
India-US May Announce Interim Trade Agreement Before July 8
NEW DELHI: India and the US may announce an interim trade agreement before July 8, with New Delhi seeking full exemption from the additional 26 per cent tariff on domestic goods, an official said. The US on April 2 imposed an additional 26 per cent reciprocal tariff on Indian...
Nearly Half Of Consumers Polled Switching To Private Labels: EY Survey
NEW DELHI: Indian consumers are re-evaluating their retail choices and nearly half of them are switching to private labels, according to an EY report which highlights heightened consumer expectations of value, trust and relevance from their purchase experiences. According to the latest EY Future Consumer Index (FCI) — India...
Outlook For India Is One Of Cautious Optimism, Says The RBI Report
MUMBAI: Amid uncertainties in the global economy due to tariff wars and weak consumer sentiments, the Indian economy is exhibiting resilience with various high frequency indicators of industrial and services sectors sustaining their momentum in April, the monthly state of the economy report of the Reserve Bank of India...
RBI To Slow Cash Boost After $100 Billion Injection
MUMBAI: The Reserve Bank of India is expected to slow its liquidity infusion after pumping Rs 8.57 lakh crore ($100.06 billion) into the banking system since December, with a large surplus transfer to the government expected soon, several investors said. The central bank concluded its final scheduled open market...
NITI Aayog’s Paper Bats For Revision Of Defence Laws
NEW DELHI: A NITI Aayog’s working paper has proposed amendment and revision in defence laws to develop a resilient and efficient defence supply chain in the face of evolving geopolitical tensions, cybersecurity threats, and global supply chain disruptions. The Aayog in the working paper said a resilient and efficient...
US Tariffs Unpredictability Has Negative Credit Consequences: Moody’s
NEW DELHI: Moody’s Ratings on Tuesday said the uncertainties around US tariffs have negative credit consequences for debt issuers across emerging markets, including companies, governments and banks. “The on-again, off-again US tariffs and difficulty predicting US trade policy have negative credit consequences for debt issuers across emerging markets,” Moody’s...
India, US Discuss Expediting Conclusion Of First Phase Of Trade Pact
NEW DELHI: Commerce and Industry Minister Piyush Goyal on Tuesday held discussions with US Commerce Secretary Howard Lutnick in Washington to expedite negotiations on the first phase of the proposed bilateral trade agreement between the two countries. Goyal is in Washington for a ministerial-level meeting to review the progress...
