Page 194 - Indian Economy

Russia-Ukraine crisis: Falling rupee unlikely to shore up India's exports

Uncertainty resulting from the Russian invasion of Ukraine and over how other currencies behave among factors keeping exporter sentiment in check

Recovery tracker: Workplace visits drop, power generation growth slows

Freight growth and traffic congestion show signs of improvement

The coming storm

Russia-Ukraine fallout for India may be severe

Red chilli pepper prices surge on crop damage in top exporter India

The prices of red chilli peppers are surging as output in top exporter India is set to drop by a fifth from a year ago, hit by an invasive pest attack and damage from unseasonal rain

Ukraine crisis: Russian oil companies offer big discounts to India

Bankers said India should be extremely cautious before opening up trade with Russia amid sanctions as it should not be seen as funding Russian invasion of Ukraine.

India's food inflation set to worsen as Russia-Ukraine crisis intensifies

Among food items, the data shows that inflation in milk has risen from 2.73 per cent in January 2021 to 4.09 per cent in January 2022

Forex reserves decline by $1.425 bn on a dip in currency assets

The overall reserves had increased by USD 2.762 billion to USD 632.952 billion in the previous reporting week

GlobalData cuts Indian economy growth forecast for 2022 amid Ukraine crisis

GlobalData lowered India's economy growth forecast to 7.8 per cent for 2022 due to the nation's exports being impacted by the Russia-Ukraine war and spiking oil prices causing ripple effects.

Rupee heading for its all-time low, likely to hit 77/$ level: Poll

Heavy dollar selling by Reserve Bank slows the pace of fall

Services PMI picks up marginally in Feb after falling for 3 straight months

Data released by the data analytics firm IHS Markit released on Friday showed purchasing managers' index (PMI) for services for February rose to 51.8 from 51.5 in the preceding month.

India to raise fuel prices from next week amid concern over inflation

State oil companies have told the government that they need a price increase of 10-12 rupees per litre for petrol and diesel, an official said

Tea exports dip 6.8% to 195.5 mn kg in CY2021, shipment value remains flat

Tea exports during the 12 months of 2021 declined marginally at 195.50 million kilogramme from 209.72 million kg during the previous similar period, according to latest Tea Board data.

Rural distress, high cost subdue India's Feb retail sales: FADA

Rural distress as well as high acquisition cost subdued India's February automobile retail sales on a year-on-year (YoY) basis, FADA said.

'Make in India' more crucial from prism of national security: PM Modi

'Today, the world is looking at India as a manufacturing powerhouse' said PM Modi

Microfinance sector's contribution to GVA to be 2.7-3.5% by 2025-26: Study

The impact of the microfinance sector on Gross Value Added (GVA) of the economy is expected to be between 2.7 and 3.5 per cent by 2025-26, according to a study report released on Thursday. The report, 'Present and Potential Contribution of Microfinance to India's Economy', was prepared jointly by MFIN, an association for microfinance entities, and National Council of Applied Economic Research (NCAER). It presents an analysis of the contribution of microfinance institutions to the overall economy in terms of income or 'Gross Value Added', a measure of the national economic output and employment. The MFIN-NCAER report points out that during 2018-19, the contribution of the microfinance sector as a whole, to India's GVA was 2.03 per cent. The projected contribution of the microfinance sector to overall GVA, including the backward & forward linkages by 2025-26 would be a significant 2.7 per cent in the base case scenario and nearly 3.5 per cent in best case scenario, the report ...

Goyal asks industry to raise manufacturing contribution to 25% of GDP

Commerce and Industry Minister Piyush Goyal on Thursday asked the industry to look at ways to increase the contribution of the manufacturing sector to 25 per cent of GDP and set up 10 R&D labs or innovation centres to become a global leader in technology. He also said the industry should make all-out efforts to increase the share of exports to about 25 per cent of the GDP (gross domestic product). Addressing the closing session of the DPIIT's webinar on 'Make in India for the World', he talked about a five-point vision for boosting manufacturing and promoting exports. "How can we really take our manufacturing contribution to the GDP to 25 per cent? Can we increase our global trade to 10 per cent of the size of our economy?... These are ambitious targets but, I think, doable. "Can we look at being one of the top-three nations in services exports? Can we look at supporting MSMEs (micro, small and medium enterprises) to increase their participation in foreign trade," Goyal ...

Indian trade, current account deficit seen widening, rupee under pressure

India's trade deficit widened sharply to $21.19 billion in February compared to $17.94 billion the previous month, preliminary data shows

War Casualty: Russia-Ukraine crisis to dent India's auto sector

India's automobile industry is expected to bear the brunt of lower supplies of components triggered by the ongoing Russia-Ukraine war.

India to benefit from increased global demand for metals, foodgrains

India is well positioned to benefit from the increased global demand for steel, aluminium and foodgrains -- wheat and rice, said brokerage house ICICI Securities.

Pace of govt capital expenditure not robust enough, feel policymakers

The years FY21, FY22 and targets for FY23 have seen substantial jump in the Centre's capex outlay.