The Indian rupee rose on Monday, but higher near-maturity US Treasury yields were expected to limit the upside for the currency. The rupee was at 82.61 against the US dollar by 10:35 a.m. IST, compared with 82.6475 in the previous session. The domestic currency reached an intraday high of 82.5325. The two-year US Treasury yield […]
India’s current account deficit narrowed sharply in the January-March 2023 quarter, RBI data showed on Tuesday, attributable to a moderation in the trade deficit and robust services exports. India’s CAD decreased to USD 1.3 billion (0.2 per cent of GDP) during the quarter from USD 16.8 billion (2.0 per cent of GDP) in the October-December […]
Vedanta has announced its plans to invest USD 1.7 billion in the current financial year to expand its business operations. Chairman Anil Agarwal shared this information in the company’s Annual Report for the financial year 2022-23. The company has already invested USD 1.2 billion in growth capital expenditure during the same period to enhance its […]
When the International Monetary Fund (IMF) called the Indian economy a “bright spot” in an otherwise dark immediate future for the world economy, it was met with cautious optimism by the decision-makers in India. The truth is that PM Modi and his team had hunkered down in the immediate aftermath of the headwinds of the […]
Shopify has launched the Shopify Entrepreneurship Index, highlighting the significant growth and influence of Indian entrepreneurs on the country’s economy. The data reveals the crucial role played by Indian entrepreneurs on Shopify, contributing to the national GDP and creating employment opportunities. In 2022, Indian entrepreneurs contributed Rs 139 billion to the national GDP, an increase […]
Global trade growth in 2023 is still expected to be subpar despite a slight upgrade to GDP projections since last fall, WTO economists said in a new forecast on 5th April. Weighed down by the effects of the crisis in Ukraine, stubbornly high inflation, tighter monetary policy and financial market uncertainty, the volume of world […]
Rating agency CRISIL on Thursday said it expected India’s gross domestic product (GDP) growth to touch 6 per cent in fiscal 2024, compared with 7 per cent estimated by the National Statistical Organisation (NSO) for fiscal 2023. The agency also sees average GDP growth over the next five fiscals at 6.8 per cent. It added […]
India’s GDP or gross domestic product may grow 7 per cent in financial year 2022-23, according to the second advance estimates released by the Ministry of Statistics and Programme Implementation (MoSPI) on Tuesday. According to the first advance estimates released last month, the GDP growth was pegged at 7 per cent for 2022-23. In financial […]
