Page 11 - Economy

'Work in progress': DEA joint secy on efforts to attract foreign capital

DEA Joint Secretary Alok Tiwari says the government is working to attract overseas capital and improve depth, liquidity and participation in corporate bonds

Centre clears ₹9,450 crore for 410-km rail projects across four states

Four multitracking projects across West Bengal, Odisha, Andhra Pradesh and Tamil Nadu will add nearly 410 km to the railway network and ease congestion

RE bidding activity declines to 14.7 GW in FY26 from 40.6 GW: ICRA

Renewable energy bidding slowed amid delays in signing power agreements and transmission constraints, while ICRA expects capacity addition to moderate to 45 GW in FY27

India builds long-life infra, but corrosion remains a costly weak link

A Nomura report estimates India's corrosion bill at ₹14.1 trillion a year, raising questions over whether infrastructure standards and maintenance practices are keeping pace with rapid asset creation

UP-Japan investment meet to focus on green hydrogen, semiconductor push

The meet will include a CEO Roundtable chaired by Chief Minister Yogi Adityanath and virtual groundbreaking for projects worth ₹3,191 crore

What US safeguard tariffs on quartz surface products mean for India

The US has imposed 25-55% safeguard tariffs on quartz surface products, putting Indian exporters under pressure as they depend heavily on the American market

India's exports to US remain unchanged after a year of Trump's tariffs

An analysis of trade ministry data for the 12 months through July shows the US continues to account for about 20% of India's exports

Brics nations oppose EU's CBAM, say it burdens developing economies

Brics nations said CBAM and similar measures "undermine efforts by developing countries aimed at addressing the adverse impacts of climate change, increasing adaptive capacity and resilience"

Income-tax dept checks 394 entities over suspicious foreign remittances

The exercise covers entities that sent large sums abroad despite reporting little business activity or not filing returns, along with professionals who certified payments.

Ind-Ra lifts India's FY27 economic growth forecast by 10 bps to 6.8%

But warns El Niño, geopolitical woes may weigh on momentum

Global headwinds: Robust swap inflows lift rupee just 0.1% vs 8.8% in 2013

Global factors weigh on the currency despite sizeable FCNR(B) inflows, as economists flag tight financial conditions, volatile energy markets and competition for capital

Build relationship with youth: FM Nirmala Sitharaman to PSBs

Sitharaman also asks state-owned banks to strengthen priority-sector lending and launch a month-long 'Banking for Youth' campaign from October 2

Odisha govt unveils ₹1,000 crore relief package for flood-hit districts

Package covers crop, housing, livelihood and infrastructure losses as floods across five river systems affect more than 18 lakh people in 22 districts and claim 13 lives

Suspicious foreign remittances under income tax department scanner

Entities located in districts along India's land borders and remitting significant amounts of money abroad have also been covered in the exercise

China unveils new measures to boost consumption in counties, smaller cities

The government calls for upgrading consumption channels in counties, including renovating township commercial centres, rural markets and local fairs

India challenges US tariffs on quartz products with WTO consultation bid

Under WTO rules, the US has to enter into consultation within 30 days of receiving the request. If the dispute isn't resolved within 60 days, India can request the establishment of a panel

India's tanker exports surge over six-fold to $1.36 bn in Q1, UAE leads

Tankers are large-scale transport ships engineered for the bulk movement of liquids and gases

Govt weighs cutting sugar import duty to curb record local prices

Officials are weighing proposals to lower or scrap the 100% tax on inbound shipments in an effort to boost local supplies

Median Indian firm grew in size after Covid-19 pandemic, EAC-PM paper finds

The paper found corporate profits rebounded sharply after the Covid-19 pandemic, but investment growth remained slower

India's growth to slow to 6.8% in FY27 amid West Asia crisis, El Nino risks

The FY27 GDP growth projection at 6.8 per cent is a tad higher than the 6.7 per cent growth Ind-Ra had projected in May