Economy
India, UAE sign six agreements on LPG and strategic oil reserves
India and the UAE signed six agreements covering energy, defence and shipping, while UAE entities announced investments worth $5 billion in India
 "India, UAE sign six agreements on LPG and strategic oil reserves")
OMCs hike petrol, diesel prices by Rs 3 per litre amid mounting losses
Petrol now costs ₹97.77 per litre in Delhi, up from ₹94.77 a litre earlier, while diesel prices have been raised to ₹90.67 per litre
 "OMCs hike petrol, diesel prices by Rs 3 per litre amid mounting losses")
India's exports at 4-year high, but bullion imports widen trade deficit
India's merchandise exports and imports recorded double-digit growth in April despite supply chain disruptions caused by the ongoing conflict in West Asia
 "India's exports at 4-year high, but bullion imports widen trade deficit")
Inflation prints: Wholesale, retail paths diverge amid West Asia turmoil
Over financial years 2017-2026, the volatility of WPI, measured by standard deviation, was almost three times higher than that of CPI, according to the rating agency
 "Inflation prints: Wholesale, retail paths diverge amid West Asia turmoil")
Steel import curbs delay implementation of India-UK free trade agreement
UK steel import curbs have emerged as a key hurdle delaying the operationalisation of the India-UK free trade agreement, officials said
 "Steel import curbs delay implementation of India-UK free trade agreement")
Voluntary consumption cuts better than sharp fuel price hikes: Officials
India is relying on voluntary fuel conservation and restrained price hikes to shield consumers from the impact of the ongoing West Asia energy shock
Datanomics: Why trade imbalance with Vietnam is a concern for India
Trade deficit with Vietnam widening since FY19
 "Datanomics: Why trade imbalance with Vietnam is a concern for India")
₹2,250 cr infusion may be enough for Axis Fin's growth needs for 3.5 years
Axis Finance's Rs 2,250-crore capital infusion from Axis Bank and Kedaara Capital is expected to support the NBFC's growth and delay upper-layer classification
 "₹2,250 cr infusion may be enough for Axis Fin's growth needs for 3.5 years")
India's Russian oil supply likely to be hit if US waiver not extended
Under the latest US waiver, countries have been allowed to purchase Russian crude oil and petroleum products until May 16 that were loaded onto vessels on or before April 17
 "India's Russian oil supply likely to be hit if US waiver not extended")
India's foreign exchange reserves rise by $6.29 bn on higher gold reserves
India's foreign exchange reserves increased to $696.99 billion in the week ended May 8, led by a sharp rise in gold reserves, according to RBI data
 "India's foreign exchange reserves rise by $6.29 bn on higher gold reserves")
FISME urges SIAM to share rising input cost burden with MSME vendors
FISME has asked SIAM and automobile OEMs to help MSME auto component suppliers absorb rising wage, energy and raw material costs linked to the West Asia crisis
 "FISME urges SIAM to share rising input cost burden with MSME vendors")
Modi's UAE visit secures $5 bn investments, key energy and defence pacts
India and the UAE signed multiple agreements on energy, defence, shipbuilding and AI cooperation, alongside investment commitments worth $5 billion
Labour Codes, state shop laws may create compliance uncertainty for firms
Experts say overlaps between Labour Codes and state Shops and Establishments Acts may create compliance uncertainty for companies across working hours and leave rules
 "Labour Codes, state shop laws may create compliance uncertainty for firms")
India's April unemployment rate increases to 5.2%, shows govt data
A Reuters poll had projected the April unemployment rate at 5.2%
 "India's April unemployment rate increases to 5.2%, shows govt data")
April WPI hits 8.3%: Will rising wholesale pressure drive retail inflation?
India's wholesale inflation hit 8.3% in April, driven by fuel prices. While retail inflation remains lower at 3.48%, rising supply-chain costs may soon push consumer prices higher
 "April WPI hits 8.3%: Will rising wholesale pressure drive retail inflation?")
US team to visit India next month for trade talks; dates not finalised
India and the US issued a joint statement on February 7 finalising a framework for an interim trade agreement regarding reciprocal and mutually beneficial trade
 "US team to visit India next month for trade talks; dates not finalised")
India's goods exports robust in Apr despite supply chain disruption
Merchandise imports also grew 10 per cent to $71.94 billion in the first month of the financial year
 "India's goods exports robust in Apr despite supply chain disruption")
India's exports rise 13% to $43 bn in April, trade deficit at $28 bn
Imports from the region dipped 31.64 per cent to $10.47 billion in April from $15.32 billion in the year-ago period
 "India's exports rise 13% to $43 bn in April, trade deficit at $28 bn")
Austerity and symbolism: Matching intent with action amid crises
Following through announcements with enforcement of measures is key, as a run through recent Indian economic history shows
 "Austerity and symbolism: Matching intent with action amid crises")
Indian OMCs source crude at competitive rates in March amid Iran war
March crude procurement costs for Indian OMCs remained steady year-on-year in dollar terms and rose only slightly from February, despite the West Asia conflict
 "Indian OMCs source crude at competitive rates in March amid Iran war")