Economy

Crude surplus may widen Russian discounts as supplies rise post-ceasefire

Indian refiners expect Russian crude discounts to widen as additional supplies from Iran and West Asia enter the market following the US-Iran ceasefire agreement

MPC Minutes: Need to stay watchful on inflation, says RBI governor

The Reserve Bank of India (RBI) on Friday released the minutes of meeting of the Monetary Policy Committee (MPC) held during June 3-5

Crude oil import bill jumps 81.5% in May as elevated prices raise costs

India's crude oil import bill rose sharply in May as higher global energy prices outweighed stable import volumes amid supply disruptions linked to the West Asia crisis

Why El Nino could become India's next growth and inflation challenge

With rainfall turning weaker and El Nino risks rising, India could face pressure on farm output, food inflation, rural demand and overall economic growth in FY27

Direct tax collections rise 15% to ₹5.21 trillion till June 17 in FY27

Net direct tax collections rose to ₹5.21 trillion as strong growth in non-corporate taxes and advance tax payments offset modest growth in corporate tax receipts

Why govt wants ONGC to build India's next ₹15,000 crore strategic reserve

The facility would expand India's existing strategic storage capacity of 5.33 MMT by roughly one-third amid geopolitical conflicts and oil supply disruptions

India's return to West Asian oil set to be slow despite Hormuz reopening

State refiners have already secured sufficient crude for the next two months and are evaluating long-term supply commitments from West Asian producers

Rationalised royalty rates aim to cut costs, boost oil and gas exploration

In a bid to simplify the structure, the government has also introduced a flat deduction formula for wellhead price calculations

Gold imports slump after duty increase, May volumes at 25-30 tonnes

Monthly gold imports have declined to 25-30 tonnes from 70-80 tonnes, while recycling of old jewellery has increased following the recent hike in import duties

PM, Japan's Takaichi to hold talks in Assam in July, eye supply-chain deals

Japanese Prime Minister Sanae Takaichi is expected to visit Guwahati with a business delegation, with investment, supply chains and energy security high on the agenda

India-UK trade pact opens premium vehicle market, protects EV push

JLR says local manufacturing plans remain unchanged as India opens its premium vehicle market to British imports while protecting lower-cost EV segments

India-UK social security pact to yield £500 million annual savings

The Double Contribution Convention will exempt eligible Indian professionals and employers from UK social security payments for five years, reducing costs significantly

Iranian oil may return to India as US-Iran peace boosts Chabahar project

The proposed US-Iran agreement could revive India's crude imports from Iran, improve energy security and provide renewed momentum to the strategically important Chabahar Port

Labour code requirements: Firms seek more time to upload gig workers' data

Digital platforms have sought additional time beyond the June 21 deadline to upload gig worker data to the eShram portal, citing operational and technical challenges

'Next 20 years will mirror geopolitical turbulence of 1925-1945,' warns CEA

V Anantha Nageswaran said businesses must prioritise resilience over efficiency as geopolitical tensions rise, while arguing that AI will increase, not reduce, human cognitive load

India-UK trade pact: What changes for autos, whisky, textiles, steel

Here are the key takeaways from the India-UK trade deal, from lower tariffs on cars and Scotch whisky to duty-free textile access, social security relief for professionals and steel export safeguards

CESTAT ruling may bring clarity to stock brokers on financing charges

Experts say the Tribunal's ruling on delayed payment charges could provide greater certainty to stock brokers on the tax treatment of financing-related charges

India exports raw aluminium as tariff structure hits manufacturing: GTRI

Think tank GTRI says India's tariff structure encourages exports of primary aluminium while raising input costs for domestic manufacturers and MSMEs

India may ease emergency fuel curbs once global tensions ease: Official

Measures on LPG monitoring, gas allocation and fuel hoarding were imposed to protect domestic supply after disruptions around the Strait of Hormuz

UP government to develop textile parks across 1,500 acres to boost economy

Uttar Pradesh plans six textile parks across nearly 1,500 acres, targeting over ₹10,000 crore in investments and thousands of jobs