Page 22 - Indian Economy

High levels of Russian crude imports may not last forever, says govt

The ministry was commenting on a recommendation by the panel on imports of crude oil from Russia according to the report of the panel tabled in Parliament today

OilMin rejects blended fuel fears, says ethanol priced higher than petrol

Despite higher ethanol prices, India sticks to its blending mandate for energy security, farmer income, and sustainability

The rupee should be allowed to weaken to cushion impending trade impact

While it is to be hoped that the Indian government will continue to engage with the US, the prospect of a 50 per cent-plus tariff on US exports will have serious consequences for the Indian economy

MSME bodies seek urgent liquidity, faster refunds to offset US tariff hit

MSME bodies urge emergency credit, faster RoDTEP and GST refunds, and targeted relief measures to protect exporters from US tariff hikes impacting margins and employment

Centre slashes FCI share of broken rice to boost ethanol production

Petroleum Minister Hardeep Singh Puri said last Friday that no engine failures had been reported since the E20 blend's rollout and that the performance impact was minimal, at around 1-3 per cent

US tariff hike likely to hit Rajasthan's gems and jewellery sector

Jaipur Sarafa Committee Chairman Kailash Mittal said that Rajasthan's jewellery traders are surprised by the tariff move but not overly worried

How advanced manufacturing can define India's global manufacturing rise

India's rise in global manufacturing will be driven by innovation-first businesses, policy alignment, and closing the talent gap

Best of BS Opinion: India must make rational choices on Trump tariffs

Our editorials and opinion pieces today look at the impact of Trump's tariffs and how India should calibrate its responses, as well as the social and economic impact of AI replacing IT jobs

India should use Trump's bullying to kickstart its own Meiji Restoration

India should avoid boxing itself into a corner because of Trump's bullying

Statsguru: The two sides of growth as India marks 79th Independence Day

Demographically, India overtook China as the most populous nation, with 1.46 billion people in 2025, even as the average annual population growth rate fell

India the world's most 'dashing and dynamic' economy, says Rajnath Singh

Defence Minister Rajnath Singh on Sunday described India's economy as the world's most "dashing and dynamic" and said some people who have the attitude of "we are everyone's boss" are not liking it. Singh's comments come amid high tariffs announced by US President Donald Trump on goods imported from India. The speed with which India is moving ahead, no power in the world can stop it from becoming a big power globally, Singh said in his address after performing bhoomi pujan of a rail coach manufacturing unit of the Bharat Earth Movers Limited (BEML) in Madhya Pradesh's Raisen district. 'Today, if any country has a dashing and dynamic economy, it is India's economy,' he asserted. The defence minister, without naming anyone, said some people are not liking the rapid development of India and are unable to digest it. "They think that we are everyone's boss and how is India moving forward so fast? Many people are trying to do something, so that when things made by the hands of Indians i

Nudging more states to mandate procurement through GeM, says CEO

In 2024-25, about 10.5 per cent of the total government procurements worth ₹5.42 trillion carried out through the GeM portal were from States

Misjudging a presidency: How overconfidence about Trump era turned to anger

India may yet emerge from this period of flux in trading relations with a tariff rate and exemption list from the US that allows some of its exporters to survive

Indian economy is robust: Arvind Panagariya counters Donald Trump's jibe

Dismissing US President Donald Trump's "dead economy" jibe, 16th Finance Commission Chairman Arvind Panagariya on Friday said the Indian economy is growing at 7 per cent, and more than that in dollar terms. Panagariya was speaking at the Business Today India@100 event. "You don't grow at 7 per cent plus (if the economy is dead), and actually in dollar terms we are growing at more than 7 per cent. I don't know what the definition (of dead economy) means. May be, dead bodies do move," he said when asked if India is a dead economy. Asked about India's trade protectionism, Panagariya said: "There may be protectionist measures... We are substantially open". Mounting a sharp attack on India, Trump had remarked that India is a "dead economy". "I don't care what India does with Russia. They can take their dead economies down together, for all I care," Trump had said in a social media post on July 31. Trump later imposed 50 per cent tariff on Indian goods imported to the US with a brief .

US tariff impact: India's FY26 GDP growth likely to take 60-bp hit

Economists expect India's FY26 GDP to face a 35-60 bps hit from US tariff hike; strong domestic demand may cushion the blow but targeted support may be needed

PM draws the line amid US tariff heat, govt plans strategy for exporters

Govt working on three-pronged strategy to support exporters

US tariff: Shrimp biz worth ₹25K cr at stake; farm gate rates drop 19%

Trump's 50% tariff on Indian seafood exports leads to sharp drop in shrimp prices, hurting farmer income in Andhra Pradesh and Odisha; industry urges diversification

US tariffs raise concerns across India's automotive and component sectors

Tariff hike to 50% may hit Indian exports of tyres and auto components to the US; industry explores nearshoring, diversification, and cost efficiency measures

US doubles tariff on India to 50% over Russian crude oil purchases

'Unfair, unjustified, unreasonable', says MEA; new rates from August 28

US tariffs to have 'negligible' impact on India's GDP, exports: Study

The 25 per cent tariffs on Indian goods announced by US President Donald Trump will have "negligible" impact on the country's GDP as only USD 8.1 billion of exports to America might get affected, according to a PHDCCI study released on Wednesday. The tariffs announced by the US are likely to come into effect on August 7, 2025. The paper, released by the PHD Chamber of Commerce and Industry (PHDCCI), also recommends a series of measures to mitigate the impact of US tariffs. "Our analysis indicates that there will be an estimated impact of only 1.87 per cent on India's total global merchandise exports and a negligible 0.19 per cent on India's GDP as a result of a 25 per cent tariff announced by the US on India," said Hemant Jain, President, PHDCCI. The study said the total potential export impact is estimated at USD 8.1 billion based on 2024-25 merchandise exports of USD 86.5 billion (1.87 per cent of India's total global export). Among other sectors, the study said the levies would