Page 103 - Economy & Policy News
Indian refiners likely to import more Russian oil as discounts deepen
Discounts on Urals crude loading in November are $2-to-$2.50 a barrel to Dated Brent, making it attractive
 "Indian refiners likely to import more Russian oil as discounts deepen")
Russian oil purchases not bedrock of Indian economy: US trade official
Jamieson Greer's remarks come at a time when India and the US have resumed negotiations to address the trade barriers after President Donald Trump imposed a 50 per cent tariff on India
 "Russian oil purchases not bedrock of Indian economy: US trade official")
Russian oil traders ask Indian buyers to pay in yuan amid strong China ties
In 2023, Indian state refiners made some payments for Russian oil in yuan, but they stopped due to displeasure from the Indian government during a period of heightened tensions with Beijing
 "Russian oil traders ask Indian buyers to pay in yuan amid strong China ties")
Google to pour $10 bn into Visakhapatnam for massive data hub cluster
Andhra Pradesh CM Chandrababu Naidu is set to approve Google's $10 billion investment plan in the data centre hub. This will be Google's largest-ever direct investment in India's digital economy
 "Google to pour $10 bn into Visakhapatnam for massive data hub cluster")
No hurry to launch CBDC nationwide: RBI Deputy Governor T Rabi Sankar
That said, the CBDC pilot is progressing well, with the user base in India expanding to about seven million, said RBI Deputy Governor T Rabi Sankar
 "No hurry to launch CBDC nationwide: RBI Deputy Governor T Rabi Sankar")
World Bank ups India's FY26 growth forecast to 6.5%, lowers FY27 projection
India, however, is expected to remain the world's fastest-growing major economy, supported by continued strength in consumption growth
 "World Bank ups India's FY26 growth forecast to 6.5%, lowers FY27 projection")
GenAI led to 20% fall in white-collar job listings in S Asia: World Bank
The World Bank drew on monthly data from labour market research and consulting firm Lightcast, covering 28 million job postings between 2020 and 2025
 "GenAI led to 20% fall in white-collar job listings in S Asia: World Bank")
Keir Starmer's India visit to deepen trade, fintech, and defence ties
UK PM Keir Starmer's two-day India visit will focus on expanding trade under CETA, fintech partnerships, defence cooperation, and higher education links
 "Keir Starmer's India visit to deepen trade, fintech, and defence ties")
India's fuel demand falls to 12-month low in Sept amid seasonal trends
Diesel consumption rose 3.2% on a monthly basis to 6.79 million tons in September for a 6.6% increase year on year
 "India's fuel demand falls to 12-month low in Sept amid seasonal trends")
GST 3.0: Govt plans automated refunds on lines of income-tax system
Priya, however, refused to give a deadline. "We will have consultations to be done, adequate safeguards have to be put in place
 "GST 3.0: Govt plans automated refunds on lines of income-tax system")
Tech must not be weaponised to thwart global progress: FM Sitharaman
Finance Minister asks fintechs to focus on trust, safety and financial inclusion
 "Tech must not be weaponised to thwart global progress: FM Sitharaman")
Govt approves four railway projects worth ₹24,634 cr under PM Gati Shakti
The four projects covering 18 districts across Maharashtra, Madhya Pradesh, Gujarat, and Chhattisgarh will increase the Indian Railways network by about 894 km
 "Govt approves four railway projects worth ₹24,634 cr under PM Gati Shakti")
India must have strong trade ties with neighbours including China: NITI CEO
Subrahmanyam also indicated that after GST 2.0, another set of reforms is expected to be announced before Diwali
 "India must have strong trade ties with neighbours including China: NITI CEO")
RBI to launch deposit tokenisation pilot on October 8: Details here
The Reserve Bank of India will launch a deposit tokenisation pilot on October 8 using its wholesale CBDC as the base layer to test blockchain-backed digital settlements across banks
 "RBI to launch deposit tokenisation pilot on October 8: Details here")
World Bank cuts South Asia outlook to 5.8% on Trump tariffs to India
Washington-based institution projected South Asia's growth to ease to 5.8 per cent in 2026, down from 6.6 per cent this year, a sharper slowdown than previously anticipated.
 "World Bank cuts South Asia outlook to 5.8% on Trump tariffs to India")
India-Qatar bilateral trade can be doubled by 2030, says Piyush Goyal
Goyal highlighted that, despite global economic headwinds and supply chain disruptions, India continues to demonstrate strong macroeconomic stability
 "India-Qatar bilateral trade can be doubled by 2030, says Piyush Goyal")
Need sharper trade focus on Asia, neighbours: NITI CEO B V R Subrahmanyam
Says no sector should be protected and markets need to be opened up globally
 "Need sharper trade focus on Asia, neighbours: NITI CEO B V R Subrahmanyam")
Slightly slower but India's GDP growth likely stayed strong in Q2
A favourable base effect and low deflator growth which boosted the headline figure in Q1 is likely to have continued in Q2 - though less pronounced
 "Slightly slower but India's GDP growth likely stayed strong in Q2")
India, Chile aim to finalise CEPA by year-end after fast-track talks
Commerce officials to visit Santiago this month for third round of CEPA talks, with focus on critical minerals and expanded market access
 "India, Chile aim to finalise CEPA by year-end after fast-track talks")
RBI move on M&A funding likely to revive corporate credit demand
Also enable corporate sector to capture sizeable share of acquisition financing mkt
 "RBI move on M&A funding likely to revive corporate credit demand")