Economy

Services PMI recovers to 58.8 in April despite slowing export growth

India's services sector activity accelerated in April as stronger domestic demand, ecommerce growth and logistics services boosted output and new orders despite weaker export demand

Services PMI hits 5-month high of 58.8 in April on strong domestic demand

Growth was driven by stronger domestic demand and new orders, even as export growth weakened and cost pressures remained elevated

India, US 'very, very close' to signing trade deal, says Trump official

Indian negotiators were in the US last month for discussions on the trade agreement

India's cash transfer boom is a new safety net for millions: CRISIL

Crisil says expanding cash transfer schemes are supporting low-income households, but rising state borrowing and fiscal pressures could challenge their long-term sustainability

Financial services spearhead surge in outbound FDI, manufacturing slips

India's outward FDI surged in March, with economists attributing the spike to uncertainty and structural shifts, even as long-term trends remain stable

Govt sets 60-day FDI clearance for China-linked sectors, 40 sub-sectors

The move follows a decision by the government in March to process and decide FDI proposals from these countries in specified manufacturing sectors or activities within 60 days

India tops global remittances with over $137 billion inflows in 2024: UN

The report also said that countries in Asia continue to account for the largest share of internationally mobile students

Sugar industry wary of proposed tighter rules in Sugarcane Control Order

Proposed changes to Sugarcane Control Order, including stricter norms for mills and khandsari units, raise concerns over increased regulatory oversight and potential 'Inspector Raj' in the sector

Rupee hits fresh low amid surge in crude prices and West Asia tensions

The rupee hits a record low as crude oil prices surge amid West Asia tensions, raising concerns over inflation, import costs, and widening current account deficit

CII President Rajiv Memani flags need for govt support in critical sectors

Rajiv Memani, president of the Confederation of Indian Industry and regional managing partner of EY Africa India region speaks on the challenges and opportunities facing India Inc

Union Cabinet approves ₹1,570 crore ship repair facility in Vadinar

Cabinet clears ₹1,570 crore Vadinar ship repair facility to boost domestic capacity and reduce reliance on foreign shipyards

Semiconductor projects worth ₹4,000 crore get Cabinet go-ahead

The two new projects will be implemented by Crystal Matrix Limited and Suchi Semicon Limited, with project costs of ₹3,068 crore and ₹868 crore, respectively

Indian banks' ROA peaking; NIM pressure to cap gains: McKinsey & Company

Indian banks' ROAs may have peaked at 1.4% in FY25, with declining net interest margins, rising costs and funding pressures expected to limit further profitability gains

Cabinet approves ₹5,659 crore cotton mission to double yields in 5 years

Cabinet raises sugarcane FRP by ₹10/quintal for 2026-27 season

West Asia conflict highlights need for India to build natural gas reserves

Rising import dependence and supply disruptions amid West Asia tensions underscore the urgency for India to build strategic natural gas reserves and strengthen LNG storage capacity

Private insurers step up commitment to India's new maritime insurance pool

In less than a fortnight of its announcement, private insurers have already committed Rs 1,100 crore to the pool; plans are also afoot to set up an Indian Protection & Indemnity Club

Gujarat HC ruling on ITC denial raises compliance burden for businesses

Gujarat High Court upholds ITC denial for supplier defaults, increasing compliance costs and working capital pressure for businesses across multi-layered supply chains

Cabinet approves ₹23,437 cr rail multi-tracking projects across six states

The Cabinet has cleared Rs 23,437 crore rail multi-tracking projects across six states to enhance connectivity, reduce congestion, and boost freight capacity under PM Gati Shakti

Cabinet clears ₹18,100-cr credit guarantee scheme for aviation, MSMEs

Cabinet clears ₹365/qtl sugarcane FRP, ₹5,659 crore cotton mission

India may consider lower inflation target, narrower band: RBI Deputy Guv

The government, after consultation with the RBI, has notified the inflation target framework for a five year period through March 31, 2031