Page 571 - Economy & Policy News

43% of India's exports to EU to be hit by green regulations: Report

Textiles, chemicals, certain consumer electronics products among trade categories that could be affected

Govt aims to meet 70% of IT hardware need through local production: MoS IT

While the industry players have lauded the government's PLI scheme, they have raised concern about abrupt restrictions on import of IT hardware

Centre working on action plan to increase investments in startup sector

Officials said that ministries will have to expand their capacity to support the growing number of startups in the country

JPMorgan index inclusion shows confidence in India's economy: Ajay Seth

Inclusion will start on June 28, 2024, and extend over 10 months, with 1% increments on its index weighting, as India is expected to reach the maximum weighting of 10%

Discussion underway to ease FDI norms in space sector, says official

The proposal to ease foreign direct investment (FDI) norms in the space sector is "under inter-ministerial discussion," the official added

India unlikely to export sugar in 2023-2024, says ED&F Man Commodities

Nearly a month ago government sources told Reuters that India is expected to ban mills from exporting sugar in the next season beginning October, halting shipments for the first time in seven years

World eyes India's sugar output as Centre tightens screws on traders

With the world sugar production in 2023-24 poised to go into deficit due to expected drop in production in Thailand, India remains among the very few countries which is in a position to export sugar

India to become $5 trillion economy, third-largest by 2027: RBI DG Patra

India will be a $5 trn economy and third largest in world by market exchange rates by 2027, aided by the demographic advantage and pace of financial sector development, Reserve Bank Deputy Governor

Market regulator Sebi eases corporate bond issuance norms for large firms

Sebi removes penalty, introduces incentives

Rising logistics demand expected to create 10 mn jobs in India by 2027

Buoyed by government policies and rising economic activities, the Indian logistics industry is poised for rapid growth and is expected to create 10 million jobs by 2027, a report said on Thursday

BRICS foreign ministers call for UN reform, loss and damage fund

BRICS Foreign Ministers said in a joint statement after meeting on the sidelines of the United Nations General Assembly. External Affairs Minister S Jaishankar had joined the meet virtually

Canada pension fund has big bets on Indian startups, shows Tracxn data

This includes online insurance and claims management venture Acko, education unicorn Byju's and Delhivery in logistics; according to data from start-up tracker Tracxn

Savings declined but resulted in rise in assets: SBI chief economist

Recovery in real estate, rise in property prices attracted savings

Combatting cybercrime key element in nurturing trust: RBI Dy governor

The Deputy Governor held a meeting with heads of the Customer Service Committee of the Board, managing directors, executive directors in charge of customer service verticals

India slips one notch to 87th out of 165 nations on economic freedom index

India has fallen one notch to the 87th position out of 165 countries on the economic freedom index, according to a report released on Thursday.

Pre-Budget consultations to start from 10 October 2023, says govt

The department of economic affairs has asked the ministries to ensure that their data for the pre-Budget discussion is ready and filed by October 5

No signs of systemic risk build-up in bank credit: RBI's Michael Patra

The deputy governor also said that the ongoing surge in bank credit expansion is primarily driven by retail loans

Rupee and govt bond end steady despite rise in US Treasury yields

The rupee settled at Rs. 83.09 a dollar on Thursday, against Rs. 83.08 per dollar on Wednesday

Indian consumer spending likely to be higher this festive season: Report

Indian consumer spending is expected to be higher this festive season, on the back of increasing purchases of celebratory items and luxury goods, according to a survey by Deloitte

India to clock GDP growth of 6.5% in FY24: NITI Aayog member Arvind Virmani

The economy will grow notwithstanding high crude oil prices and increased uncertainty due climate changes, he said