Page 28 - Indian Economy

Giving soybean its due: 2026 Year of Soy may put sector on growth path

An appropriate response, by way of favourable policies and programmes to boost the production and consumption of soybean, is imperative to prop up this sector

Building a better GST: New reforms mark progress, but more is needed

The call for a single rate correctly identifies this multiplicity as a central problem

Reforms for growth: Independence Day announcements can go a long way

Among biggest announcements was the formation of a task force for next-generation reforms, which would evaluate all laws, rules, and procedures related to economic activities in a time-bound manner

Govt confident of meeting fiscal deficit target despite planned tax cuts

In the biggest tax overhaul since 2017, PM Modi on Saturday announced sweeping changes to the complex goods and services tax (GST) regime which will make daily essentials and electronics cheaper

Govt to set up task force to carry out next-gen reforms: PM Modi

Prime Minister Modi announces a task force to revamp economic laws, cut compliance costs, and boost India's competitiveness as part of the 2047 developed nation vision

Rural demand continued to outpace urban in April-June period: NielsenIQ

India's FMCG market grew 13.9% in April-June, driven by rural demand, smaller packs, and e-commerce gains in metros, even as urban recovery narrowed the rural-urban gap

If India becomes strong in every sector, world will listen to it: Gadkari

Union minister Nitin Gadkari on Thursday pitched for making India a super power and "vishwaguru", saying the world would certainly listen to India if it becomes strong in every sector. The road transport and highways minister was addressing a gathering at a programme to mark 'Akhand Bharat Sankalp Din' organised by the Rashtra Nirman Samiti (social organisation) in Nagpur. "We recall this day because on this day in 1947, the country was divided into two - India and Pakistan. We all as a mission accept that our country's partition was unnatural, and one day our country will become 'akhand' (unified), this is the resolve we take today in this programme," he said. Gadkari praised India's unity in diversity and also lauded the country's armed forces. Prime Minister Narendra Modi has resolved to make India a 5 trillion-dollar economy, the third largest economy of the world as well as "atmanirbhar" and "vishwaguru", he noted, adding all these resolutions will be achieved with efforts of

India's quasi-sovereign wealth fund seeks to double assets to $10 bn

The move comes as the likes of KKR & Co., Brookfield Asset Management Ltd. and GIC Pte are pumping in hundreds of millions of dollars to develop the country's roads, renewable energy projects

Expect an income tax refund rush as new law approaches implementation

These refunds, reckoned to be close to ₹1,000 crore, largely relate to tax demand cases in which taxpayers had secured favourable orders from appellate authorities

Rupee posts biggest single-day gain in over a month on Fed rate cut hopes

Rupee strengthens 0.46% to 87.44/$, buoyed by weaker dollar, falling CPI, and gains in Indian equities and Asian currencies

India to be key driver of our long-term growth: Amazon's Samir Kumar

India is expected to become one of the largest contributors to Amazon's long-term growth, its country head Samir Kumar said on Wednesday, adding that the e-commerce giant is doubling down on its focus in the market, where it is investing billions of dollars. India is still not as deeply penetrated in terms of online consumption and therefore, presents a "very large opportunity" for Amazon, Kumar, who is now helming operations here as the Country Manager of Amazon India, told PTI in an interview. It is pertinent to mention that Amazon has committed to significant investment in its India infrastructure, about Rs 2,000 crore for 2025 alone. It has previously outlined a broader investment pledge of USD 26 billion by 2030, with close to USD 15 billion between 2023 and 2030. Kumar said India is among the fastest-growing markets for the company. "And we are a big believer that in the long run, India will be one of the biggest contributors to our growth," Kumar said, but did not give a ...

India has growth potential: IKEA CEO at first Delhi store opening

Swedish home decor and furniture retailer IKEA sees growth potential coming over the next three decades in India on the back of the country's economic growth, demographic dividend and young families coming into the consuming class, said IKEA India CEO Patrik Antoni. IKEA, which on Wednesday entered the Northern market with the opening of a city store here, is also working to increase local sourcing for its local retail operations from 30 per cent to 50 per cent in the next five years, he said. "The population size itself, the economic growth, but also the whole demographics of the society, where there are so many young people, so many young families that are coming out. So, I think it's probably the growth potential we see over the coming 30 years," Antoni told PTI. IKEA, which has now entered into the second phase of growth in the country, is working with an omnichannel strategy here, where it has classical large-size stores, along with small city stores, supporting its online sale

India's headline inflation likely to average 3.5% in FY26: Crisil

Ratings firm Crisil said that headline inflation is expected to average 3.5 per cent this fiscal as compared to 4.6 per cent in the last financial year. In its research report for August, the rating agency said that healthy agricultural production is likely to keep food inflation in check. The kharif sowing is up a healthy four per cent year-on-year as of August 8. "We expect headline inflation to average 3.5 per cent this fiscal from 4.6 per cent in the last," Crisil said in its research report. Headline inflation is defined as a rise in prices of all items in the CPI, including food and energy. Assuming geopolitical uncertainties remain under control, Brent crude oil prices are projected to be subdued at USD60 to USD65 per barrel in the current financial year, which should help contain non-food inflation, the report said. Crisil said another bout of repo cut is expected this fiscal. A cumulative cut of 100 basis points so far, along with adequate liquidity, has ensured a swift

India needs big push in AI, chips to compete with US, China, says CEA

CEA V Anantha Nageswaran said that the current trade-related matters are important but they should not blind us to other challenges

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