Top headlines: Aug exports rise 46%; US consumer price growth cools

Business Standard brings you the top headlines on Tuesday

Exports rise 46% to $33.28 bn in August; trade deficit widens to $13.8 bn

India's exports rose by 45.76 per cent to $33.28 billion in August, as against $22.83 billion in the same month last year, according to commerce ministry data released on Tuesday.

Imports during the month increased by 51.72 per cent to $47.09 billion, the data showed. Read more

US consumer price growth cools in August, smallest gain in seven months

Prices paid by US consumers rose in August by less than forecast, posting the smallest gain in seven months and suggesting that some of the upward pressure on inflation is beginning to wane.

The consumer price index increased 0.3% from July, according to Labor Department data released Tuesday. Compared with a year ago, the CPI rose 5.3%. Read more

Cabinet may approve revised PLI scheme for auto sector on Wednesday

The Union Cabinet is likely to approve on Wednesday the revised production-linked incentive (PLI) scheme for the automobile sector, which aims at promoting domestic manufacturing and create jobs, according to sources.

The government is believed to have slashed the outlay for this PLI scheme to about Rs 26,000 crore, they said. Read more

Zomato co-founder and head of supply Gaurav Gupta quits

Gaurav Gupta, a co-founder and head of supply of online food delivery start up Zomato, has quit the company that made a public offering in July, CEO Deepinder Goyal confirmed in a blog post.

"I am taking a new turn in my life and will be starting a new chapter, taking a lot from this defining chapter of my life – the last 6 years at Zomato. We have a great team now to take Zomato forward and it’s time for me to take an alternate path in my journey. I am very emotional as I write this and don’t think any words can do justice to how I am feeling right now," Gupta said in a company-wide email he sent earlier today. Read more