India’s economic story is expected to remain on a path of “cautious resilience” in the near term, even as global uncertainties continue to grow, the department of economic affairs (DEA) said in its Monthly Economic Review for May.However, it cautioned that the ongoing conflict in the Middle East, rising crude oil prices and the possibility…
NEW DELHI: Gold demand in India has slipped by nearly 70 per cent after the government doubled import duty on the precious metal earlier this month.The higher fuel and food prices linked to the ongoing Iran conflict had further dragged down the consumer sentiment.Industry estimates showed gold demand fell to around 7.5 tonnes in the…
The US expects to finalise an interim trade agreement with India in the coming weeks and months as both countries work to deepen economic and technology ties, US Ambassador to India Sergio Gor said on Thursday.“Our current interim trade agreement is on the table for us to finalise that will unlock prosperity for both of…
Indian equity markets witnessed a sharp selloff on Friday, with the Sensex plunging more than 1,000 points and nearly Rs 5 lakh crore being wiped off investor wealth, as worries over a weak monsoon forecast, continued foreign investor selling and uncertainty around a US-Iran peace deal rattled sentiment.The Sensex closed 1,092.26 points lower at 74,775.74,…
MUMBAI/NEW DELHI/CHENNAI: India’s consumption looks headed for a near-term slowdown with predictions of an El Nino-weakened monsoon likely to bring the lowest rainfall in 11 years.Deficient rains may weigh on rural demand, impacting volume growth and crimping sales of a host of products ranging from soaps, shampoos, packaged food to two-wheelers and durables. For companies…
NEW DELHI: India has emerged as the world’s fifth most digitalised economy, overtaking several advanced nations as rapid adoption of artificial intelligence, digital public infrastructure and online services reshape the global technology landscape, according to a report released on Friday.The State of India’s Digital Economy (SIDE) 2026 report by the ICRIER-Prosus Centre for Internet and…
NEW DELHI: The Supreme Court on Friday cleared Reliance Industries (RIL) of the charge of making an illegal and undue gain of Rs 447 crore in 2007 while trading in Reliance Petroleum (RPL) shares by allegedly manipulating prices and set aside Securities Appellate Tribunal’s order allowing disgorgement of the profit.RIL had earned Rs 5,013 crore,…
MUMBAI: RBI’s record surplus transfer of nearly Rs 2.9 lakh crore reflects a year in which gains from dollar investments, forex market intervention and robust domestic bond income combined to lift RBI’s total income by 26% to about Rs 4.3 lakh crore in FY26, up from Rs 3.4 lakh crore a year earlier.A large share…
MUMBAI: Reports that India is expected to see its driest monsoon in a decade spooked investors on Dalal Street on Friday. In late trades, sensex fell sharply to close nearly 1,100 points (1.4%) lower at 74,776 points. HDFC Bank, ICICI Bank and Reliance Industries contributed the most to the day’s fall in the index, exchange…
India’s foreign exchange reserves fell by $7.511 billion to $681.384 billion in the week ended May 22, extending their decline for a second consecutive week, according to data released by the Reserve Bank of India (RBI) on Friday, reported PTI. The reserves had dropped by $8.094 billion in the previous reporting week to $688.894 billion….
