Page 3 - Indian Economy

Iran threatens to shut Bab el-Mandeb: What it means for India and the world

Iran has asked Yemen's Houthis to prepare for a possible closure of the Bab el-Mandeb Strait, raising concerns over its impact on global shipping, energy markets and trade

India overtakes US in PPP-based global savings, trails only China: Report

India's share of global savings rose from 3.3 per cent in 1992 to 10.3 per cent in 2025, placing it ahead of the US in PPP terms

West Asia tensions, weak monsoon key risks for Indian economy: RBI Governor

RBI Governor Sanjay Malhotra said inflation risks remain elevated due to West Asia tensions, rising oil prices and the possibility of a weak monsoon, even as supply-side pressures dominate

CBDT raises Cost Inflation Index to 384 for financial year 2026-27

The Cost Inflation Index for FY27 will apply from April 1, 2026, though indexation is now available only in limited cases involving certain land and building sales

India's million-plus cities reveal stark differences in jobs and pay

In building the first city-level portrait of urban work, the National Statistics Office has taken a step towards the evidence-based view that sound urban policy depends on

Monitoring measures: New services index will help gauge activity over time

Earlier attempts to construct a services production index were constrained by the absence of reliable monthly data

India's exports rise 15.5% in June, trade deficit widens to $30.43 bn

India's exports rose by 15.5 per cent to USD 40.41 billion in June, even as the trade deficit widened to USD 30.43 billion. Imports in June went up by about 31 per cent to USD 70.84 billion. During April-June this fiscal, exports increased 15.92 per cent to USD 129.32 billion, while imports rose 19.89 per cent to USD 216.18 billion. Gold imports in the first quarter of this fiscal year rose to USD 11.01 billion from USD 7.49 billion in April-June last year. India's exports to West Asian countries rose 7.29 per cent to USD 5 billion in June, Commerce Secretary Rajesh Agarwal said in a press briefing on trade data. Agarwal attributed the increase in the country's inbound shipments to higher imports of crude oil, electronics, machinery, and precious metals.

India giving new model of development to world: PM Modi in New Zealand

India's pace of development is unprecedented despite global challenges, Prime Minister Narendra Modi said on Saturday, asserting that the country is giving the world a new model of development. Speaking at an Indian community event titled 'Kia Ora Modi' in Auckland, also attended by his Kiwi counterpart Christopher Luxon, Modi said that the relationship between India and New Zealand is built on cherished memories, enduring friendship, shared values and a mutual commitment. "Amidst global challenges, the speed at which India is developing is unprecedented. Today, India is the world's fastest-growing major economy," Modi said, amid cheers and applause from the audience. Prime Minister Modi said India is giving the world a new model of development. "Today in India, billions of digital transactions are happening every month through UPI. India is touching new heights in drone technology and the space economy," he said, amid cheers and chants of 'Modi Modi'. Stating that the future of I

From crops to consumers: How a weak monsoon affects India's economy

A poor monsoon can trigger a chain reaction across the economy, from lower farm output and higher food prices to weaker demand and changes in RBI policy

State priorities split as outlays surge, spending patterns diverge

West Bengal led social welfare and nutrition outlay at 14.86 per cent of its budget

Subsidy burden rises to ₹4.4 trn but moderating as states curb spending

States spent as much as 8.6 per cent of their revenue receipts on subsidies in FY18. Such spending rose to 9.4 per cent in FY21 and to 10.8 per cent in FY25

Global risks persist despite markets' optimism after the Iran conflict

Risks to the global economy persist, and it is far too early to celebrate finger on the pulse

Renewed US-Iran conflict: What do fresh West Asia tensions mean for India?

The attacks on commercial vessels in the Strait of Hormuz brought maritime traffic to a standstill and reignited concerns over global oil supplies and trade

Diaspora's global success: What India can learn from its overseas achievers

The global success of the Indian diaspora suggests that expanding meritocracy, opportunity and fair competition at home could accelerate India's rise as a leading economy

Reform delayed is reform denied: Time to make reforms part of everyday life

We have missed the bus before, but now reforms must become part of everyday conversation

Manufacturing PMI falls to 3-month low in June amid int'l demand slowdown

Output, new orders, exports and hiring lose momentum as softer demand and intense competition weigh on factory activity, though the sector remains in expansion territory

Manufacturing PMI falls to 54.2 in June as factory growth loses steam

HSBC India Manufacturing PMI slipped from 55.0 in May, with output, new orders, exports and employment expanding at a slower pace

India's fiscal deficit rose 12-fold to ₹1.62 trillion in April-May

Within tax revenue, the government's excise duty collections fell nearly 20 per cent to Rs 2.12 trillion in April-May

India's April-May fiscal deficit at 9.6% of 2026-27 target: Govt data

India has set the fiscal deficit target for 2026-27 at 4.3% of GDP, or ₹16.96 trillion

Remain alert to external, domestic risks: RBI governor Sanjay Malhotra

Preserving financial stability more important than ever, says RBI governor Sanjay Malhotra