Page 24 - Indian Economy

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

RBI to hold ₹2 trillion 7-day VRRR auction to absorb surplus liquidity

RBI to conduct seven-day Variable Rate Reverse Repo auction on Friday to absorb Rs 2 trillion as banking system liquidity remains in surplus of over Rs 3 trillion

India to stay resilient amid global trade tensions, says Sunil Mittal

Bharti Airtel Chairman Sunil Mittal has exuded confidence in India's ability to move at a steady economic clip even in face of global headwinds intensified by rising trade disputes and ongoing conflicts. Penning a note in Airtel's latest annual report, the telecom industry stalwart said that political stability and a robust policy push across key sectors, including infrastructure, logistics and supply chains, are creating a conducive investment climate and driving India's ambitions of becoming a manufacturing hub for the world. Acknowledging that overall global macroeconomic growth has been subdued and divergent across different regions, Mittal called for coordinated action to ensure sustainable momentum. "India is likely to sustain its stable economic performance, even amid global uncertainties heightened by escalating trade tensions and ongoing conflicts. Global macroeconomic growth has been subdued, diverging sharply across regions and requiring coordinated action to ensure ...

Tyre industry to grow 7-8% in FY26, driven by replacement demand: Crisil

Crisil expects India's Rs 1 trillion tyre industry to grow 7-8% in FY26, mainly driven by replacement demand, while OEM volumes and global trade risks continue to pose challenges

India's long overdue low-carbon development plan likely to see light

The climate strategy may pave the path to a national carbon budget, an element critical in achieving net zero, but increase costs for companies transitioning to low-emission strategies