Per capita income to rise by $2K over next five years: Sitharaman
India’s per capita income is projected to increase by 2,000 USD over the next five years, said Finance Minister Nirmala Sitharaman during her inaugural speech at Kautilya Economic Conclave in New Delhi. The finance minister said the upcoming decades would see the steepest rise in living standards for the common citizen driven by economic and structural reforms implemented over the past decade. Currently, the per capita income is at 2,730 USD. Key Points
The TribuneIndia, EFTA trade pact under ratification process: Jitin Prasada
The Trade and Economic Partnership Agreement between India and EFTA, signed in March, awaits ratification in Iceland, Liechtenstein, Norway, and Switzerland. The deal promises investment benefits and reduced duties on select products. India's trade with EFTA hit USD 24 billion in 2023-24, with a trade gap favoring EFTA. Key Points
Economic TimesForex reserve jumps by USD 9.70 billion to all-time high of USD 666.85 billion
India’s reserve position with the IMF is up by USD 32 million to USD 4.609 billion. India’s forex reserves jumped by USD 9.699 billion to an all-time high... Key Points
The Tribune IndiaExports up 1% to $35 billion in April; trade deficit widens to 4-month high at $19.1 billion
Imports of services estimated to be increased to USD 16.97 billion during the month as compared to USD 13.96 billion in April 2023. India’s merchandise... Key Points
The Tribune IndiaIndia's forex reserves rise by USD 140 million to hit fresh peak of USD 642.63 billion
Mumbai, Mar 30 (PTI) India’s forex reserves increased by USD 140 million to touch its all-time high of USD 642.631 billion during the week ended March 22, the Reserve Bank said. This is the fifth consecutive week of a jump in the overall reserves. The kitty had increased by USD 6.396 billion to USD 642.492 […] Key Points
ThePrintIndia's foreign exchange reserves hit fresh all-time high
New Delhi [India], March 29 (ANI): India’s foreign exchange reserves rose for the fifth straight week to hit a fresh all-time high of USD 642.631 billion in the week ending on March 22, as per the latest data released by the Reserve Bank of India (RBI). Prior to the week that ended on March 22, […] Key Points
ThePrintIndia's current account deficit narrows to USD 10.5 billion or 1.2 pc of GDP in Oct-Dec 2023
Mumbai, Mar 26 (PTI) India’s current account deficit narrowed to USD 10.5 billion or 1.2 per cent of GDP in the October-December quarter as against USD 11.4 billion or 1.3 per cent in the preceding three months ending September, the Reserve Bank said on Tuesday. When compared to the year-ago period, the narrowing in the […] Key Points
ThePrintIndia's CAD dips to USD 10.5 billion in October-December: RBI
New Delhi, Mar 26 (PTI) India’s current account deficit declined to USD 10.5 billion or 1.2 per cent of the GDP in October-December quarter from USD 11.4 billion in the previous three months and USD 16.8 billion a year back, the Reserve Bank of India (RBI) said on Tuesday. Net FDI inflow at USD 8.5 […] Key Points
ThePrintEngineering exports to Russia doubled till February in FY'24: EEPC
India's engineering exports to Russia doubled to USD 1.22 billion in the 2023-24 fiscal, according to the Engineering Export Promotion Council (EEPC). Exports to the US fell by 7% to USD 15.95 billion, while China's shipments saw a marginal decline to USD 2.38 billion. Exports to the UAE and Australia, with which India signed an FTA, remained positive. Key Points
Economic TimesAt USD 642.49 billion, India's foreign exchange reserves hit all-time high
New Delhi [India], March 23 (ANI): India’s foreign exchange reserves rose for the fourth straight week to hit an all-time high of USD 642.49 billion in the week ending on March 15, as per the latest data released by the Reserve Bank of India (RBI). During the week, the foreign exchange kitty rose by USD […] Key Points
ThePrintIndia's forex kitty rises by USD 6.40 bn to USD 642.50 bn
Mumbai, Mar 22 (PTI) India’s forex reserves increased by USD 6.396 billion to USD 642.492 billion for the week ended March 15, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had risen by USD 10.47 billion to USD 636.095 billion. In October 2021, the country’s forex kitty had reached […] Key Points
ThePrintPE, VC investments fall to USD 2.2 bn in Feb as big-ticket deals dry up
Private equity and venture capital investments in February totaled USD 2.2 billion, down 39% from the previous year. The month saw 120 deals, surpassing January and February 2023, with notable investments in Byju's and iBus Network. Key Points
Economic TimesIndia's exports may reach $450 billion this fiscal: New FIEO president
India's merchandise exports are projected to hit USD 450 billion this fiscal, overcoming challenges like the Red Sea crisis. FIEO President Ashwani Kumar emphasized the need for marine insurance, reasonable freight charges, easy credit for MSMEs, and concluded free trade agreements to boost exports. Despite obstacles, exports rose 12% in February. Key Points
Economic TimesIndia's forex exchange reserves at over two-year high
Mumbai (Maharashtra) [India], March 16 (ANI): India’s foreign exchange reserves rose by USD 10.470 billion to USD 636.095 billion in the week that ended on March 8, as per the latest data released by the Reserve Bank of India (RBI). The foreign exchange kitty rose for a third straight week to hit an over two-year […] Key Points
ThePrintIndia's forex kitty expands USD 10.47 bln to USD 636.095 bln
India Business News: India's forex reserves, totaling USD 636.095 billion, saw a surge from USD 625.626 billion in the previous week. The kitty defended the rupee amid glo Key Points
Times Of IndiaExports rise 11.9 pc to USD 41.4 bn in Feb
New Delhi, Mar 15 (PTI) India’s exports rose 11.9 per cent to USD 41.4 billion in February, the highest in the current fiscal, while the trade deficit stood at USD 18.7 billion, according to the data released by the commerce ministry. Imports were valued at USD 60.1 billion, up 12.16 per cent compared to USD […] Key Points
ThePrintUnicorns to add $1 trn to economy by 2030, generate 50 mn jobs: CII study
A report anticipates new unicorns contributing USD 1 trillion to India's economy by 2030, generating 50 million jobs. The startup ecosystem, led by over 100 unicorns, is expected to drive significant growth across various sectors, impacting GDP and employment positively. Key Points
Economic TimesIndia-EFTA trade pact: Swiss watches, chocolates to enter Indian market at lower prices
New Delhi has allowed tariff concession to a number of products imported from Switzerland under the agreement. Domestic customers will get access to... Key Points
The Tribune IndiaIndia-EFTA trade deal: Swiss watches, chocolates to enter Indian market at lower prices
India and the four-European nation bloc EFTA signed a trade and economic partnership agreement (TEPA) on Sunday to boost trade and investments between the two regions. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. Key Points
Economic TimesGold rises Rs 150; silver declines Rs 400
New Delhi, Mar 6 (PTI) Gold prices on Wednesday rose by Rs 150 to Rs 65,150 per 10 grams in the national capital amid strong global cues, according to HDFC Securities. Extending gains for the second straight day, the precious metal touched a fresh lifetime of Rs 65,150 per 10 grams. In the previous trade, […] Key Points
ThePrint
India to grow at 6.8 pc in FY’25, to become upper middle-income country by 2031: Crisil Ratings
Says the next seven fiscals (2025-2031) will see Indian economy crossing USD 5 trillion-mark and inching closer to USD 7 trillion. Crisil Ratings on... Key Points
The Tribune IndiaForex reserves jump by USD 2.975 bn to USD 619 bn
Mumbai, Mar 1 (PTI) India’s forex reserves jumped by USD 2.975 billion to USD 619.072 billion for the week ended February 23, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had dropped by USD 1.132 billion to USD 616.097 billion. For the week ending February 23, the foreign currency […] Key Points
ThePrintFDI inflows decline 13 pc to USD 32 billion in Apr-Dec 2023
New Delhi, Feb 29 (PTI) Foreign direct investment (FDI) inflows in India declined 13 per cent to USD 32.03 billion in April-December 2023, dragged down by lower infusion in computer hardware and software, telecom, auto, and pharma sectors, according to the latest government data. FDI inflows stood at USD 36.74 billion during the corresponding nine […] Key Points
ThePrintForex reserves decline USD 5.24 bn to USD 617.23 bn
Mumbai, Feb 23 (PTI) India’s forex reserves declined USD 5.24 billion to USD 617.23 billion for the week ending February 9, according to weekly data released by the Reserve Bank of India (RBI) on Friday. The forex kitty stood at USD 622.5 billion for the week ended February 2. However, in the current fiscal, the […] Key Points
ThePrintIndia's foreign exchange reserves decline by USD 2.8 billion
New Delhi [India], January 27 (ANI): India’s foreign exchange reserves declined by USD 2.795 billion to USD 616.143 billion in the week that ended on January 19, 2023, the latest data released by the Reserve Bank of India showed. During the week, India’s foreign currency assets (FCA), the biggest component of the forex reserves, declined […] Key Points
ThePrint
Cash-strapped Pakistan seeks $2 billion loan from China
Cash-strapped Pakistan has requested $2 billion in financial aid from China for a year, seeking to roll over the debt as the deposit time for the loan from China ends on March 23. The caretaker Prime Minister Anwaarul Haq Kakar expressed gratitude to China for its assistance, noting that Pakistan has secured a total of $4 billion in loans from China, reducing pressure on external debt payments. Key Points
Economic TimesZee Entertainment not to go ahead with USD 1.4 billion deal with Disney Star
India Business News: Zee Entertainment cancels USD 1.4 bn deal with Disney Star for TV broadcast rights. The company misses USD 200 million instalment and terminates USD 1 Key Points
Times Of IndiaFrench President Emmanuel Macron's visit may give push to India-EU trade deal talks: GTRI
French President Emmanuel Macron's visit to India for Republic Day celebrations is expected to boost ongoing talks for a comprehensive trade agreement between India and the European Union (EU). The visit is anticipated to strengthen ties in various areas, including defense, economics, energy, and space. Key Points
Economic TimesIndia's goods & services exports marginally up in 2023
India's exports of goods and services showed a marginal increase of 0.4% to USD 765.6 billion in 2023, despite global economic uncertainties. Key contributing sectors included electronics, pharmaceuticals, cotton yarn, fabrics, ceramics, meat, dairy, poultry, fruits, vegetables, and information technology. Goods exports contracted by 4.71% to USD 431.9 billion, while services exports rose by 7.88% to USD 333.8 billion. Merchandise imports decreased by 7% to USD 667.73 billion. Main export destinations include the US, UAE, Netherlands, Bangladesh, UK, and Germany. Geopolitical conflicts like the Russia-Ukraine war and the Red Sea trade route crisis impacted goods shipments. Key Points
Economic TimesExports marginally up at USD 38.45 bn in Dec; trade deficit narrows
New Delhi Jan 15 (PTI) The country’s exports edged up 1 per cent to USD 38.45 billion in December 2023 while the trade deficit narrowed to a three-month low of USD 19.8 billion, official data released on Monday showed. Imports declined by 4.85 per cent to USD 58.25 billion in December last year due to […] Key Points
ThePrint
India to become USD 5 trillion economy, third-largest by 2027-28
India, with a GDP of roughly USD 3.4 trillion, is currently the fifth largest economy in the world, after the US, China, Japan and Germany. Indian economy is projected to grow by 7.3 per cent in the current fiscal, higher than 7.2 per cent in 2022-23. Key Points
FirstpostIndia to be a USD 5 trillion economy by FY28; reach USD 30 trillion by 2047: FM
India is set to become the third largest economy by 2027-28, according to Finance Minister Nirmala Sitharaman. With a projected GDP of over USD 5 trillion, India's economy is expected to grow significantly in the coming years. Sitharaman also mentioned that even with conservative estimates, the Indian economy will reach USD 30 trillion by 2047. Key Points
Economic TimesNext round of India-Oman FTA talks from Jan 16; negotiations progressing well: Official
The next round of talks for the proposed free trade agreement between India and Oman is set to begin on January 16, with the negotiations progressing well. The Comprehensive Economic Partnership Agreement (CEPA) is the third largest export destination for India, with bilateral trade reaching USD 12.39 billion in 2022-23. Key Points
Economic TimesAdani Green announces redemption plan for USD 750 million Holdco bond
Ahmedabad (Gujarat) [India], January 8 (ANI): Adani Green Energy Limited on Monday announced the redemption plan for its USD 750 million 4.375 notes due on September 9, 2024, to boost investors’ confidence. According to a release, the Adani Group company said the outstanding amounts of the Holdco Notes shall be fully secured through cash balances […] Key Points
ThePrintDuty concessions on petrochemical products a sticking point in India-Oman FTA talks
The proposed free-trade agreement (FTA), Comprehensive Economic Partnership Agreement (CEPA), between India and Oman faces potential challenges due to demands for customs duty concessions on petrochemical products like polypropylene and polyethylene. Certain domestic players oppose these duty concessions, citing Oman's significant subsidies on raw materials for petrochemical production. Key Points
Economic Times
Indian-origin couple, daughter found dead in their US mansion, domestic violence suspected
The bodies of Rakesh Kamal, 57, his wife, Teena, 54, and their 18-year-old daughter, Ariana, were found in their Dover mansion. The district attorney said a gun was found near the husband’s body. Key Points
ThePrintIndia's forex reserves rise by USD 4.47 bn to USD 620.44 bn
Mumbai, Dec 29 (PTI) The forex reserves continued to rise for the third consecutive week, adding USD 4.471 billion more in the week ending December 22, taking the total to USD 620.441 billion, according to the weekly data released by the Reserve Bank on Friday. In the previous reporting week, the kitty had swollen by […] Key Points
ThePrintIndia's exports to Australia up 14 pc during Apr-Nov, thanks to trade agreement
India's exports to Australia surged 14% to USD 5.8 billion from April-November, benefiting engineering, pharma, and electronics sectors due to the free trade pact initiated last December. Negotiations for a broader trade deal are progressing, focusing on detailed rules of origin. Australian FDI in India rose from USD 30-40 million to USD 300 million this year. However, Indian imports from Australia fell by 19%, totaling USD 11.14 billion. Key growth sectors include engineering, pharma, and electronics, diversifying India's trade basket with Australia. Key Points
Economic TimesStartup story set for better script in new year after unicorns, funds fall in 2023
Startups with sustainable business models as well as the well-capitalised ones are expected to weather the current turmoil. And the horizon in 2024 is expected to be exciting as well as challenging . Key Points
Economic TimesInflows from private equity, venture capital funds to domestic companies plunge to $27.9 billion in 2023
Private equity and venture capital investments in Indian companies declined about 40% to $27.9 billion in 2023, compared to $47.62 billion in 2022, according to data from Venture Intelligence and the Indian Private Equity and Venture Capitalist Association. The year also saw an increase in outflows to $19.34 billion from $18.45 billion in 2022. However, industry watchers expect a rebound in funding next year. Key Points
Economic TimesCAD declines sharply to 1 pc of GDP in Jul-Sep quarter
Mumbai, Dec 26 (PTI) India’s current account deficit declined sharply to 1 per cent of the GDP or USD 8.3 billion in the second quarter of this financial year, mainly due to lower merchandise trade deficit and growth in services exports, according to a RBI data released on Tuesday. The current account deficit (CAD) was […] Key Points
ThePrintIndia's CAD declines sharply to 1 pc of GDP in July-Sep quarter: RBI
Mumbai, Dec 26 (PTI) India’s current account deficit declined sharply to 1 per cent of the GDP or USD 8.3 billion in the second quarter of this financial year, mainly due to lower merchandise trade deficit and growth in services exports, according to a RBI data released on Tuesday. The current account deficit (CAD), which […] Key Points
ThePrintIndia, Oman free trade agreement likely to be inked next month: Official
Oman ranks as India's third-largest export market within the Gulf Cooperation Council (GCC) nations. The agreement is anticipated to boost Indian exports further after the implementation of the free trade agreement. Presently, more than 80% of Indian goods face an average 5% import duty upon entering Oman, with few existing trade barriers. Key Points
Economic TimesIndia's forex reserves jump USD 9.112 bn to USD 615.971 bn
Mumbai, Dec 22 (PTI) India’s forex reserves jumped USD 9.112 billion to USD 615.971 billion in the week ended December 15 and the quantum of increase is one of the highest for a week, according to RBI data. In the previous reporting week, the overall reserves had risen USD 2.816 billion to USD 606.859 billion. […] Key Points
ThePrintPE/VC bets plummet to 43-month low of $1.6 bn in Nov
Private equity and venture capital investments in India hit a 43-month low of $1.6 billion in November, marking a 69% decrease from the same period last year and a 60% decline from October, according to a report by the Indian Venture and Alternate Capital Association (IVCA) and EY. Key Points
Economic Times
'Electronics, services exports to contain slide in growth rate;overall trade may dip 2.6 pc in 2023'
In 2023, sectors which are expected to register growth include, aviation turbine fuels, motor gasoline, smartphones, basmati rice, motor car-medium size, turbo-jets, and auto components. Smartphone exports are expected to jump by about 93 per cent to USD 14 billion during the current calendar year as against USD 7.2 billion in 2022. Key Points
Economic TimesIndia's November exports saw marginal 1.2 pc growth at USD 62.6 billion
New Delhi [India], December 15 (ANI): India’s overall exports, merchandise and services combined, in November are estimated to be USD 62.58 billion, exhibiting a marginal positive growth of 1.23 per cent on a yearly basis, official data released on Friday showed. The overall exports during November 2022 were worth USD 61.82 billion. Show Full Article […] Key Points
ThePrintIndia’s GDP will reach USD 5 trillion in 2026: Panagariya
Mumbai, Dec 15 (PTI) India will become the world’s third largest economy by 2026 as its GDP in current dollar terms will reach USD 5 trillion in that year and further rise to USD 5.5 trillion in 2027, former Niti Aayog Vice Chairman Arvind Panagariya said on Friday. Delivering the 18th C D Deshmukh Memorial […] Key Points
ThePrintIndia's forex reserves jump USD 2.816 bn to USD 606.859 bn
Mumbai, Dec 15 (PTI) India’s forex reserves jumped USD 2.816 billion to USD 606.859 billion in the week ended December 8, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the overall reserves had risen USD 6.107 billion to USD 604.042 billion. It can be noted that in October 2021, […] Key Points
ThePrintIndia's exports fall 2.83% in November; trade deficit also decreases
Based on the available data, the expected value of services exported in November 2022 is USD 26.93 billion, whereas in November 2021 it is USD 28.69 billion. These exports came to USD 220.66 billion over the course of the eight months, down from USD 208.30 billion from April to November Key Points
Firstpost
Indian goods worth USD 3.7 billion entering Oman to get boost by free trade agreement: GTRI report
India and Oman are in the process of negotiating a Comprehensive Economic Partnership Agreement (CEPA), and a report by think tank Global Trade Reproach Initiative (GTRI) highlights that over 83.5% of Indian goods, worth $3.7 billion, such as gasoline, iron and steel, electronics, and machinery, could receive a significant boost in Oman once the agreement is reached. Key Points
Economic TimesIndia will become advanced USD 5 trillion economy by 2047: MoS Finance to Lok Sabha
At the end of 2022-23, the Indian GDP stood at USD 3.7 trillion. In 1980-81, size of the Indian economy was USD 189 billion, which increased to USD 326 billion after a decade. In 2000-01, the size of the GDP rose to USD 476 billion. Key Points
FirstpostIndia to become $5 trn economy early in Amrit Kaal: FinMin
India aims to become a USD 5 trillion economy ahead of schedule, during the Amrit Kaal, as part of the larger goal of becoming an advanced economy by 2047, according to Minister of State for Finance Pankaj Chaudhary. The International Monetary Fund (IMF) projects India to reach this milestone in 2027-28, with a strong rupee contributing to the achievement through macroeconomic stability. Key Points
Economic TimesIndia's foreign exchange reserves jump USD 2.538 bln to USD 597.935 bln
Mumbai, Dec 1 (PTI) India’s foreign exchange reserves increased USD 2.538 billion to USD 597.935 billion for the week ended November 24, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had jumped USD 5.077 billion to USD 595.397 billion. For the week ended November 24, the foreign currency assets, […] Key Points
ThePrintIndian equity market enters coveted USD 4-trillion m-cap club for first time ever
New Delhi, Nov 29 (PTI) The combined market valuation of all listed companies on the leading stock exchange BSE reached the USD 4-trillion milestone for the first time ever on Wednesday. The 30-share BSE Sensex climbed 305.44 points to 66,479.64 in early trade after beginning the day on a positive note. Thanks to the optimism […] Key Points
ThePrint
Centre working to remove trade barriers in sub-Saharan Africa, Gulf nations to boost India's exports
The bilateral trade in 2022-23 with these countries stood at USD 52.76 billion with Saudi Arabia; USD 84.8 billion with the UAE; USD 18.77 billion with Qatar; USD 13.8 billion with Kuwait; and USD 12.4 billion with Oman. Key Points
FirstpostCommerce ministry working to remove trade barriers, boost exports in sub-Saharan Africa, Gulf nations
The major trading partners of India in that region in 2022-23 were South Africa (total trade USD 18.9 billion, exports USD 8.5 billion); Nigeria (USD 11.85 billion, exports USD 5.15 billion); Togo (USD 6.6 billion, exports USD 6 billion), and Tanzania (USD 6.5 billion, exports USD 3.93 billion). Key Points
Economic TimesIndia's bilateral FTA with Singapore and as part of Asean needs to be studied together: GTRI
The think-tank GTRI (Global Trade Research Institute) has recommended that the government undertake a thorough examination of the bilateral free trade agreement with Singapore. This suggestion comes in the context of an ongoing review of India's trade pact with the 10-nation ASEAN bloc. Key Points
Economic TimesIndia's forex reserves jump USD 5.08 bn to USD 595.40 bn Mumbai, Nov 17 (PTI) India''
Mumbai, Nov 24 (PTI) India’s forex reserves increased by USD 5.077 billion to USD 595.397 billion during the week ended November 17, the Reserve Bank said on Friday. In the previous reporting week, the kitty declined USD 462 million to USD 590.321 billion. For the week ended November 17, the foreign currency assets, a major […] Key Points
ThePrintIndia’s forex reserves jump USD 5.08 billion to USD 595.40 billion
In October 2021, country’s forex kitty had reached an all-time high of USD 645 billion. India’s forex reserves increased by USD 5.077 billion to USD 595.397 Key Points
The Tribune IndiaFDI equity inflows dip 24 pc to USD 20.48 bn in Apr-Sep 2023
New Delhi, Nov 21 (PTI) Foreign direct investment (FDI) equity inflows in India declined 24 per cent to USD 20.48 billion in April-September 2023, dragged by lower inflows in computer hardware and software, telecom, auto and pharma, according to government data. FDI inflows stood at USD 26.91 billion during the first six months of the […] Key Points
ThePrintIMF revises Pak's foreign loan requirement to USD 25 billion: Report
A reduction of USD 3.4 billion is a big relief for Pakistan’s cash-starved economy. The IMF has revised down Pakistan's foreign loan requirements to USD 25 billion for the ongoing fiscal year -- reducing it by USD 3.4 billion in a big relief for its cash-starved economy, according to a media report on Saturday. Key Points
The Tribune IndiaIndia's forex reserves drop USD 462 mln to USD 590.321 bln
Mumbai, Nov 17 (PTI) India’s forex kitty decreased by USD 462 million to USD 590.321 billion for the week ended November 10, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had increased by USD 4.672 billion to USD 590.783 billion. In October 2021, the country’s forex kitty had reached […] Key Points
ThePrintIndia's forex reserves drop $ 462 million to $ 590.321 billion
India Business News: India's forex kitty decreased by USD 462 million to USD 590.321 billion for the week ended November 10, the Reserve Bank said on Friday. In the previo Key Points
Times Of IndiaExports rise 6.21 pc to USD 33.57 bn in Oct; trade deficit at record USD 31.36 bn
New Delhi Nov 15 (PTI) India’s merchandise exports rose 6.21 per cent to USD 33.57 billion in October this year, even as the trade deficit widened to a record high of USD 31.46 billion during the month, government data showed on Wednesday. Imports increased by 12.3 per cent to USD 65.03 billion in the month […] Key Points
ThePrint
IMF reaches staff-level agreement with Pakistan on $700 million bailout review
While approving the $3 billion loan in July this year, the International Monetary Fund had also released the first tranche of $1.2 billion. Key Points
India TodayExports rise 6.21 pc to USD 33.57 bn in Oct; trade deficit widens to USD 31.36 bn
New Delhi Nov 15 (PTI) India’s merchandise exports rose 6.21 per cent to USD 33.57 billion in October this year, even as the trade deficit touched a record high of USD 31.46 billion during the month, government data showed on Wednesday. Imports increased by 12.3 per cent to USD 65.03 billion in the month under […] Key Points
ThePrintIndia’s exports rise 6.21 pc to $33.57 billion in October; trade deficit widens to $31.36 billion
‘Deficit (difference between imports and exports) during October is the ‘highest’ because of the largest import figures’. India’s merchandise exports rose 6.21 per cent to USD 33.57 billion in October this year, even as the trade deficit touched a record high of USD 31.46 billion during the month, government data showed on Wednesday. Key Points
The Tribune IndiaImports from Russia up 64 pc to USD 36.27 bn in Apr-Oct
Recent data from the Commerce Ministry reveals a substantial 64% increase in India's imports from Russia, amounting to USD 36.27 billion during the April-October period of the current fiscal year. This surge can be attributed primarily to heightened shipments of crude oil and fertilizers. Key Points
Economic TimesIndia's forex reserves rise by USD 2.58 billion to USD 586.11 billion
India Business News: India's foreign exchange reserves increased by $2.579 billion to $586.111 billion in the week ending October 27, according to the Reserve Bank of Indi Key Points
Times Of India
Corporate funding in energy storage falls 31% to $15.2 billion: Mercom Capital
However, during the July-September quarter the segment attracted USD 8.2 billion investment, up 32 per cent year-on-year over USD 6.2 billion raised in the same period of 2022. Key Points
Economic TimesGovernemnt clears 110 applications for imports of laptops, other IT hardware products worth about USD 10 billion
All applications received are being disposed of within the time stipulated, there is no pendency as on date, says official. The government has cleared 110 of the total 111 applications, including those of Apple, Dell and Lenovo, that sought permission for imports of IT hardware products like laptops and computers worth nearly USD 10 billion, on the first day of implementation of the new system, an official said. Key Points
The Tribune IndiaVision plan being prepared for India to become developed economy of $30trn by 2047: NITI Aayog CEO
Says the vision document will identify sectors, technologies where India can be a world leader. NITI Aayog CEO BVR Subrahmanyam on Sunday said a vision document is being prepared for India to become a developed economy of about USD 30 trillion by 2047. Key Points
The Tribune IndiaUS emerges as India's biggest trading partner during April-September this fiscal; China at second
Exports to the US have come down to USD 38.28 billion during April-September 2023 from USD 41.49 billion a year ago. Imports also declined to USD 21.39 billion during the first six months of the current fiscal compared to USD 25.79 billion in the same period last year. Key Points
Economic TimesIndia's forex reserves increase by $1.15 bn to $585.90 bn
In October 2021, the country’s forex kitty reached an all-time high of USD 645 billion. The reserves took a hit as the central bank deployed the reserves to defend the rupee amid pressures caused majorly by global developments since last year. Key Points
FirstpostExports dip 2.6 pc to USD 34.47 bn in Sep; trade deficit narrows to USD 19.37 bn
New Delhi Oct 13 (PTI) Exports contracted by 2.6 per cent to USD 34.47 billion in September even as the country’s merchandise trade deficit narrowed to USD 19.37 billion during the month under review, according to the government data released on Friday. Easing commodity prices helped in cutting down the country’s import bill by 15 […] Key Points
ThePrintWe need to wait, watch: Commerce Secy on impact of Israel-Hamas conflict
The ongoing Israel-Hamas conflict is not expected to have a significant impact on global supplies, according to the commerce ministry. However, concerns remain about potential escalation and its effect on the gems and jewellery trade between India and Israel, which totaled $2.04 billion in 2022-23. Key Points
Economic TimesForex reserves drop by USD 2.17 billion to USD 584.74 billion
India Business News: India's forex reserves have decreased by USD 2.166 billion to USD 584.742 billion for the week ended October 6, according to the Reserve Bank of India Key Points
Times Of IndiaIsrael-Hamas conflict may impact gems, jewellery trade: Exporters
Total gems and jewellery trade between India and Israel stood at USD 2.04 billion in 2022-23 as against USD 2.8 billion in 2021-22. Key Points
Economic TimesUS biggest export destination for Indian smartphones in Apr-Jul; UAE 2nd: Govt data
The US was followed by the UAE (USD 836.36 million), the Netherlands (USD 379.3 million), the UK (USD 336.27 million), Italy (USD 245.7 million), and the Czech Republic (USD 230.25 million). Key Points
Economic Times
Plastic exports dips by 6.9 pc to $34.5 billion in August: Plexconcil
India's plastic exports declined by 6.9% to USD 34.5 billion in August due to difficult global economic factors, according to the Plastics Export Prom Key Points
Times Of IndiaIndia's forex reserves drop USD 3.79 bn to USD 586.91 bn
Mumbai, Oct 6 (PTI) India’s forex reserves dropped further by USD 3.794 billion to USD 586.908 billion for the week ended September 29, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had declined by USD 2.335 billion to USD 590.702 billion as of September 22. It can be noted […] Key Points
ThePrintApple to scale up production over 5 times in India to USD 40 billion in 5 years
iPhone maker Apple has plans to scale up production in India by over five-fold to around USD 40 billion (about 3.32 lakh crore) in the next 4-5 years, according to government sources. Key Points
The Tribune IndiaIndia's foreign exchange reserves rise USD 708 mln to USD 602.16 bln
Mumbai, Aug 18 (PTI) India’s foreign exchange reserves jumped USD 708 million to USD 602.161 billion for the week ended August 11, the Reserve Bank of India (RBI) said on Friday. This is the first increase in the kitty after declining for three consecutive weeks. In the previous reporting week, the overall reserves had declined […] Key Points
ThePrintIndia's imports from Russia doubled to USD 20.45 billion in April-July period
With this, Russia has become India's second largest import source during the first four months of this fiscal. The imports were USD 10.42 billion during April-July 2022. From a market share of less than 1 per cent in India's import basket before the start of the Russia-Ukraine conflict, Russia's share of India's oil imports rose to over 40 per cent. Key Points
Economic TimesExports dip 16 pc to $32.25 bn in July; trade deficit shrinks to $20.67 bn
New Delhi Aug 14 (PTI) India’s exports contracted by 15.88 per cent, the sixth month in a row, to USD 32.25 billion in July this year due to a global slowdown and fall in shipments of key sectors like petroleum, gems and jewellery, according to official data released on Monday. Imports during the month also […] Key Points
ThePrintIndia's forex reserves drop USD 2.42 bn to USD 601.45 bn
Mumbai, Aug 11 (PTI) India’s forex reserves dropped for the third consecutive week, declining by USD 2.417 billion to USD 601.453 billion as of August 4, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had dropped by USD 3.165 billion to USD 603.87 billion. For the week ended August […] Key Points
ThePrintHarry Styles’ ‘Love On Tour’ earns USD 600 million. Details here
Harry Styles ‘Love On Tour has become the fourth highest-grossing tour in history. Know how the average price of the ticket soared. Key Points
Economic TimesUS biggest export destination for Indian smartphones in April-May: Government
India exported USD 2.43 billion worth of smartphones in April-May this fiscal, driven by a multifold jump in shipments to the US which emerged as the biggest destination for India-made devices, according to the government data. Key Points
Economic TimesVenture capital investment declines slightly to USD 77.4 bn in Jun qtr: KPMG report
a report titled Venture Pulse Q2 2023, which analyses venture funding globally, KPMG said VC investment held relatively steady in April-June, led by a USD 6.8 billion raise by US-based Stripe, USD 2 billion raise by Singapore-based Shein, USD 1.3 billion raise by US-based AI startup Inflection, and USD 700 million raise by India-based Byju. Key Points
Economic Times