Page 535 - Economy & Policy News
Currency markets interventions not always 'black and white': RBI Governor
Reserve Bank of India Governor Shaktikanta Das was referring to the U.S. Treasury Department's regular foreign exchange report and similar research by the International Monetary Fund (IMF)
 "Currency markets interventions not always 'black and white': RBI Governor")
Dollar edges higher after inflation data reinforces expectations on Fed
"Traders didn't really believe in the hot PPI for September until CPI yesterday reinforced it," Helen Given, FX Trader at Monex USA, said
 "Dollar edges higher after inflation data reinforces expectations on Fed")
India, Brazil target over 3-fold rise in trade to $50 bn: Commerce secy
He was in Brasilia from October 1 to 4 to discuss ways to promote trade between the two countries. He chaired the sixth meeting of the India-Brazil Trade Monitoring Mechanism
 "India, Brazil target over 3-fold rise in trade to $50 bn: Commerce secy")
India Inc revenues to rise 8-10% in Q2, profit margins to expand: Crisil
This will be the first time in four quarters that the revenue growth will see an increase, it said
 "India Inc revenues to rise 8-10% in Q2, profit margins to expand: Crisil")
Forex reserves further drop by $2.17 billion to $584.74 billion: RBI
India's forex kitty had gone down by USD 3.794 billion to USD 586.908 billion in the previous week
 "Forex reserves further drop by $2.17 billion to $584.74 billion: RBI")
FTA talks between India and UK at advanced stage, says Commerce Secy
Commerce Secretary Sunil Barthwal said that negotiations on tough issues are underway
 "FTA talks between India and UK at advanced stage, says Commerce Secy")
US should rethink currency manipulator list: RBI governor Shaktikanta Das
There has to be a two-sided appreciation of the challenges" emerging markets face dealing with spillover effects of advanced economy policies, said
Jaishankar's Lanka visit underlines wide scope of cooperation partnership
Jaishankar was in Colombo to participate in the 23rd Council of Ministers' meeting and the 25th Committee of Senior Officials of the Indian Ocean Rim Association (IORA) on October 11
 "Jaishankar's Lanka visit underlines wide scope of cooperation partnership")
AI programme will enable to achieve $1 trn digital economy: Chandrasekhar
This is a deep, multi-year roadmap to make Indian AI work for being a kinetic enabler of the trillion dollar digital economy, said Chandrasekhar
 "AI programme will enable to achieve $1 trn digital economy: Chandrasekhar")
Female labour force participation rate reaches 37% in 2023: Research
This growth reflects a positive shift in the country's labour force dynamics, with more women participating actively in the workforce
 "Female labour force participation rate reaches 37% in 2023: Research")
India will not impose restrictions on laptop imports: Trade secy Barthwal
"India will not impose restrictions on laptop imports," Trade Secretary Sunil Barthwal told a press conference on Friday
 "India will not impose restrictions on laptop imports: Trade secy Barthwal")
India's exports decline 2.6% to $34.47 bn in September: Govt data
Imports too fell by 15% to $53.84 bn as against $63.37 bn recorded in September 2022
 "India's exports decline 2.6% to $34.47 bn in September: Govt data")
Risk of Indian banks' unsecured retail loans turning sour is rising: UBS
UBS has turned "neutral" on the banking sector and sees a higher probability of regulatory tightening on unsecured loans
 "Risk of Indian banks' unsecured retail loans turning sour is rising: UBS")
India still far from replacing China as global growth engine, says HSBC
HSBC expects the gap between the two economies to continue to widen in the foreseeable future, expanding to $17.5 trillion by 2028, based on IMF forecasts
 "India still far from replacing China as global growth engine, says HSBC")
G20 FMCBG releases joint communique adopting roadmap on crypto assets
While welcoming the G20 IEG rpt on strengthening MDBs, the communique said that transformative changes are required in MDBs' vision, operating models and financing capacities
 "G20 FMCBG releases joint communique adopting roadmap on crypto assets")
Fed policymakers flag high rates for 'some time' while risks shift
In forecasts issued last month, 12 of 19 officials projected one more hike this year, while the median estimate showed they expected fewer rate cuts in 2024 and 2025
 "Fed policymakers flag high rates for 'some time' while risks shift")
Festivals bring $13 bn sale for e-tailers, MSMEs clock more Diwali orders
In this spirit, MSMEs from tier-2, tier-3 and tier-4 cities are expecting higher Diwali gift orders than sellers from metro cities, it stated
 "Festivals bring $13 bn sale for e-tailers, MSMEs clock more Diwali orders")
IMF calls for urgent support from members to increase its quota resources
The IMF said the global economy had shown resilience, but recovery was slow and uneven
 "IMF calls for urgent support from members to increase its quota resources")
Need to be realistic about pvt cap mobilisation: FM to World Bank
On the issue of domestic resource mobilisation, the finance minister suggested adopting a holistic approach to raising fiscal resources, which is not limited to taxation
 "Need to be realistic about pvt cap mobilisation: FM to World Bank")
Sept retail inflation at 3-mnth low of 5.02%; Aug IIP growth rises to 10.3%
Food inflation also declined to a three-month low of 6.56 per cent in September from 9.94 per cent in August
 "Sept retail inflation at 3-mnth low of 5.02%; Aug IIP growth rises to 10.3%")