Business
India’s Exports Increase 9% In April; US Exports Surge 27%
NEW DELHI: Despite the 10% tariff imposed by the US in April, India’s merchandise exports rose by 9% during the month with exports to the US surging by 27%.Total exports during the month was at $38.5 billion, compared to $35.3 billion a year ago. Exports to the US surged...
Digital Banking Units Fail To Touch A Chord With Customers
MUMBAI: The digital banking unit (DBU) initiative — banks’ attempt to connect with the unbanked and the underbanked population using their digital prowess — largely remains on paper three years since its launch, with banks adding just 25 units to the initial 75. Several bank officials FE spoke to...
Global DAP Prices Rise 13% Since April, May Push Up Fertiliser Subsidy
NEW DELHI: The global price of di-ammonium phosphate (DAP), the second most consumed fertilizer after urea, has risen by over 13% since April, to $ 652/tonne at present. Fertiliser subsidy for FY26 may spike if DAP prices stays elevated in the coming weeks, as the government intends to keep...
VC, PE Firm Launches Slow Amid Investor Caution
BENGALURU: The number of new venture capital (VC) and private equity (PE) firms being launched in the country has plummeted in recent years, reflecting growing investor caution, tighter capital flows, and a shakeout of undifferentiated players in a maturing startup ecosystem. From 73 new VC firms in 2019, the...
India Only Reserved Right To Impose Retaliatory Duty On American Goods
NEW DELHI: India has “only” reserved its right under WTO norms to impose retaliatory duties on certain American products over the US’ steel and aluminum tariffs and it may choose to resolve the issue through the ongoing bilateral trade agreement (BTA) negotiations between the two countries, an official said...
Inflation Cools To Six-Year Low Of 3.16 Per Cent In April
NEW DELHI: Retail inflation eased to a nearly six-year low of 3.16 per cent in April mainly due to subdued prices of vegetables, fruits, pulses, and other protein-rich items, creating enough room for the Reserve Bank to go for another round of rate cut in the June monetary policy...
SEBI Proposes Relief For FPIs Investing In Government Bonds Under VRR, FAR
MUMBAI: The Securities and Exchange Board of India (Sebi) on Tuesday proposed regulatory relaxations for foreign portfolio investors (FPIs) investing solely in Indian government bonds under the Voluntary Retention Route (VRR) and Fully Accessible Route (FAR). Sebi has suggested easing registration and other compliance requirements for a new FPI...
Food Inflation Plunges To 41-Month Low
NEW DELHI: Retail food inflation eased for the six consecutive months to 1.78%% in April compared to 2.69% in March, as prices of vegetables, pulses, meat, fish and spices declined with arrivals of winter harvest. The consumer food price index (CFPI) declined by 0.153% sequentially last month compared to...
Government To Review Profitability Of Public Sector Banks, Bad Loan Recovery
NEW DELHI: Finance Minister Nirmala Sitharaman will likely meet the chiefs of public sector banks (PSBs) on Thursday to assess their performance in 2024-25 in various parameters, including profitability, bad loans recovery, deposit mobilisation, digital payments, cyber security and implementation of government schemes, sources told FE. It is to...
India Keeps Data Exclusivity Out Of UK FTA To Protect Local Drug Makers
NEW DELHI: India has protected the interest of its generic pharma industry by keeping out data exclusivity provisions from the Free Trade Agreement (FTA) with the UK. This is the second FTA in recent times where data exclusivity is not part of the trade agreement. The UK was pushing...
India Planning Retaliatory Duties Against US’ Steel, Aluminium Tariffs
NEW DELHI: India on Monday proposed to impose retaliatory duties under the WTO (World Trade Organisation) norms against the US over American tariffs on steel and aluminium in the name of safeguard measures. “The safeguard measures would affect $7.6 billion imports into the US of the relevant products originating...
Government Seeks First Right To Buy Oil & Gas Under Exigency Clause
NEW DELHI: The government will hold “pre-emption rights” over all crude oil and natural gas produced in the country in case of a national emergency, the oil ministry said in its latest draft regulations on petroleum and natural gas rules. A pre-emption right is a legal right of a...
Government Mulls Key Changes In Highway Monetisation Norms
NEW DELHI: The lull in the use of Toll Operate Transfer (ToT) mode of monetisation of highway assets could end soon, with a change in approach for future bids. The new bids will offer smaller bundles of highways of up to Rs 1,500 crore for bidding to private investors,...
PSU Banks May Take A Hit On Margins As Interest Rates Dip
KOLKATA | MUMBAI: Public sector lenders have gained about 26% in FY25 net profit cumulatively, but the current fiscal may expose them to pressure on net interest margins (NIM), thus likely leading to a moderation in their return on assets. Large banks such as State Bank of India, Canara...
India Calls Pakistan’s Nuclear Bluff, Rejects Kashmir Mediation: Govt Sources
NEW DELHI: India will never accept mediation on the Kashmir issue or discuss the matter, and the only item to talk about is Pakistan returning the portion of Kashmir that is in its illegal occupation, government sources on Sunday said in an off-the-record briefing. Sources also said India had...
Indian Economy Likely To Grow At 6.5 Per Cent In FY26: CII
NEW DELHI: India’s GDP is projected to grow at 6.5 per cent in the current fiscal and the country’s economy is resilient enough to overcome the short-term impact of geopolitical issues, Confederation of Indian Industry CII president Sanjiv Puri has said. In an interview, he asserted that the country...
India, EU To Hold Next Round Of FTA Talks From Monday For Early Conclusion
NEW DELHI: India and the European Union (EU) chief negotiators will begin the next round of talks on the proposed free trade agreement (FTA) here from Monday, with an aim to conclude the first phase of the pact as early as possible, according to an official. The two sides...
Retail Investors Still Going Strong On Index Options
MUMBAI: The Securities and Exchange Board of India’s (SEBI) stringent guidelines in the futures and options (F&O) segment haven’t served as a deterrent for retail investors who trade in index options, as their activity remains at elevated levels. In fact, it has grown marginally. According to NSE data, the...
