Page 22 - Indian Economy

AIIB sees India exposure rising to $20 billion over next five years

Multilateral lender AIIB's exposure to India may grow to reach USD 20 billion over the next five years from the present USD 12 billion, a senior official said on Thursday. The Asian Infrastructure Investment Bank (AIIB) has asked all potential borrowers to undertake an exercise to list out a pipeline of possible projects which it can lend to, its Vice President for Investment Solutions Ajay Bhushan Pandey told reporters here. "The USD 12 billion India exposure can become USD 20 billion in the next 4-5 years," said Pandey, a career bureaucrat who joined the bank post-retirement, on the sidelines of a FICCI industry event here. He said AIIB plans to increase annual lending to about USD 17 billion over the next few years, up from the present USD 10 billion. "We about USD 2-3 billion of the additional USD 7 billion can come to India (annually)," Pandey said, noting that India is already the largest borrower in its USD 60 billion portfolio. India is the second-largest shareholder in AI

Rahul Gandhi agrees with Trump calling India 'dead economy'; allies differ

Rahul Gandhi echoes Donald Trump's 'dead economy' remark for India, but Congress leaders and INDIA bloc allies reject the claim, citing strong economic data

Everybody except PM, FM know India is 'dead economy': Rahul Gandhi

Congress leader Rahul Gandhi on Thursday said everybody except Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman know that India is a dead economy, as he alleged that the BJP-led government has destroyed India's economic, defence and foreign policies. Speaking with reporters in the Parliament House complex, Gandhi also claimed that a trade deal with the US will happen and Trump will define it, while Prime Minister Modi will do what the American President tells him to do. Gandhi's remarks came after US President Donald Trump announced the imposition of 25 per cent tariff and penalties on India and called India and Russia dead economies. Asked about Trump's criticism of the Indian economy, Gandhi said, He is right, everybody knows this except the prime minister and the finance minister, Everybody knows that the Indian economy is a dead economy. I am glad that President Trump has stated a fact. Gandhi alleged that the BJP has destroyed the Indian economy in order to

US tariff to hit Indian electronics sector; IT exports may feel ripple

Trump's 25% tariff may strain India's electronics manufacturing in the short term; experts urge value chain shift, export diversification, and AI in IT delivery

US President Donald Trump hits India with 25% tariff, plus penalty

Move comes after two nations fail to seal interim trade deal; govt says will take steps necessary to secure national interest

Resolving deposit, credit balance lies in real economy, not on Mint Street

The market's memory can be short. The same time last year we were fretting about weak deposit growth. Today, we are fretting about weak credit growth

India's shrimp exports hit by US tariffs, UK FTA offers slim relief

With the US imposing 25% tariffs on Indian goods, the shrimp industry faces a major setback, while the UK trade deal offers little immediate relief

'Asia must open up': ADB president says world won't return to pre-Trump era

Asian Development Bank (ADB) President Masato Kanda urges regional reform and integration, announces $10 bn each for Asean power grid and India's metro projects

4 years on, long-pending national retail policy still just a draft

DPIIT cites ONDC, welfare board efforts as alternatives to formal policy

Peru pitches critical minerals to Indian firms, FTA likely by early 2026

Amid China export concerns, Peru seeks Indian investment in rare earths and logistics as FTA nears finalisation, offering opportunities in energy, defence, and technology

Indian economy can grow over 6.5% in FY26 without hurdles: RBI MPC member

Indian economy is growing at a robust pace and will not face any challenge in achieving a growth rate upwards of 6.5 per cent in the current financial year, RBI Monetary Policy Committee (MPC) member Nagesh Kumar said on Sunday. Kumar, in an interview with PTI Videos, further said that Indian economy, among all economies, continues to remain a bright spot for the world. "Actually, more than a third of global economies are under the debt crisis...The industrialised economies are facing a lot of pressure and high inflation and the slowdown of economic growth," he said. But because Indian economy is more driven by domestic consumption and domestic investment, less by export or trade, Kumar said India continues to grow very robustly. "I do not see any challenges in Indian economy achieving upwards of 6.5 per cent kind of growth in the current year and the following year. "And, you know, hopefully this kind of growth momentum will continue for coming years, but also be over time ...

India-UK trade deal fails to lift stocks as earnings concerns dominate mkts

Despite the anticipated India-UK trade deal, Indian equity markets remained subdued, with a broad selloff overshadowing sector-specific optimism

India-UK trade deal: Dairy products excluded, zero duty on 95% agri goods

India secures duty-free access for most agricultural products in the UK market, while protecting dairy, edible oils, and apples from tariff concessions in the India-UK FTA

India-UK trade deal: Med device firms cautious about country of origin

The UK-India Free Trade Agreement is expected to boost trade in pharmaceuticals and medical devices, though industry players remain cautious about the impact of country of origin rules

RBI sees tepid demand at VRR auction ahead of ₹2 trillion reversal

The Reserve Bank of India saw lower-than-expected bids at its overnight VRR auction, with market participants anticipating the reversal of Rs. 2 trillion on Friday

Double contribution convention to help Indian workers and firms in UK: Govt

India and the UK agree on a Double Contribution Convention that will benefit Indian workers and firms in the UK by exempting social security contributions for up to three years

India's economic growth makes it a global stability anchor: NITI Aayog VC

India's sustained economic growth makes it an "anchor of stability for the world, which needs new engines of growth and development models that can be scaled and shared, Vice Chairman of NITI Aayog Suman Bery has said. Bery addressed the ministerial segment of the High Level Political Forum for Sustainable Development Goals at UN Headquarters on Monday. He said the world is navigating a period of significant economic shifts and uncertainty, which makes the international community's collective work on Sustainable Development Goals more critical than ever. The world needs anchors of stability, new engines of growth and development models that can be scaled and shared. India, with its unique strengths and experience, is ready and willing to offer all three. He underscored that India's sustained economic growth makes it an "anchor of stability for the global community and an example of what is possible. In an era of flux, India stands out as a vibrant democracy with steadily improving

Rate cuts by RBI not magic bullet to propel investments: Raghuram Rajan

Former RBI Governor Raghuram Rajan has said repo rate cuts by the Reserve Bank in recent times are not a "magic bullet" that will necessarily propel investments, as several other factors play a part in boosting the economy. Rajan further said interest rates, at this point, are not overly high and the impact of rate cuts announced by the RBI will take time to play out. "And as you correctly point out, (high) interest rates were an argument (earlier), but I do not think that can any longer be an argument. "I do not think that necessarily this (rate cuts by RBI) will be a magic bullet to propel investments," Rajan told PTI Videos. On June 6, RBI Governor Sanjay Malhotra-headed six-member monetary policy committee reduced the benchmark short-term lending rate by 50 basis points, taking the total reduction to 100 bps in quick succession, besides a change in the policy stance to neutral from accommodative and liquidity infusion measures. Rajan was asked whether repo rate cuts announced

Rajasthan govt's special action plan in the works for ₹35 trillion MoUs

The summit saw the signing of MoUs worth around ₹35 trillion across sectors, a record for the state, according to the official

Q1 early-bird results: Revenue, profit performance worst in 16 quarters

Q1 results indicator: One-time gains boost overall income