India’s central bank cut interest rates in the world’s fifth-largest economy on Wednesday as US President Donald Trump’s tariffs kicked in and policymakers warned of “challenging global economic conditions”.
India’s economic growth could slow by 20-40 basis points in the ongoing financial year due to the latest US tariffs, which would prompt deeper interest rate cuts by the central bank, analysts said.
India on Thursday reacted cautiously to US President Donald Trump’s sweeping tariffs with exporters saying the flat 27 percent on exports imposed on fifth-largest economy could have been far worse.
India’s retail inflation fell below 4 percent in February for the first time in six months mainly due to a decline in vegetable prices, giving the central bank room to cut rates further in coming meetings.
Indian exports are facing mounting pressure from aggressive trade policies by partners such as the United States and the European Union, a senior trade ministry official said on Tuesday.
India’s central bank cut interest rates Friday for the first time in nearly five years, as concerns over a growth slowdown in the world’s fifth largest economy outweighed inflation risks.
India’s growth trajectory is expected to pick up in the second half of 2024-25, driven by domestic private consumption and a sustained revival of rural demand, the central bank said in its monthly bulletin released on Tuesday.
Sugarcane yields in India are declining due to last year’s drought and this year’s excessive rains, which could reduce the country’s sugar production below consumption levels for the first time in eight years, farmers and industry officials said on Monday.
French oil major TotalEnergies halted on Monday investments into Adani Group, after the Indian ports-to-power conglomerate was engulfed in a crisis over an alleged multi-million-dollar bribery scheme.
India’s Tata Electronics has agreed to buy a majority stake in Taiwanese contract manufacturer Pegatron’s only iPhone plant in India, forming a new joint venture that strengthens Tata’s position as an Apple supplier, two sources told Reuters.
India’s foreign exchange reserves dropped for a sixth consecutive week to a near 3-month low of $675.65 billion as of Nov. 8, data from the Reserve Bank of India (RBI) showed on Friday.
India, the world’s biggest rice exporter, is likely to produce a record 119.93 million tonnes of the staple crop in 2024-25 “kharif” season on the back of a good monsoon, the country’s agriculture ministry said yesterday.
India has drawn up a roadmap for generating 4.5-6 crore jobs in the textile sector by 2030 to make its market size grow to $350 billion from around $165 billion at present, India’s Textiles Minister Giriraj Singh said.
India’s exports to Bangladesh dropped by 28 percent year-on-year to $681 million in August, according to a report by The Indian Express.
India’s edible oil consumption is set to grow at a pace of 2 percent-3 percent as cooking oils remain affordable despite an import duty hike, a leading importer told Reuters on Wednesday.
India’s economic growth slowed to 6.7 percent on-year in the April-June quarter, official data showed Friday, as lower government outlays and lacklustre consumer spending weighed on the world’s fifth-largest economy.
India overtook China as the world’s biggest importer of Russian oil in July as Chinese refiners bought less because of lower profit margins from producing fuels, a comparison of import data showed.
India yesterday urged members of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (Bimstec) to consider forming a preferential trade agreement among themselves to foster intra-regional trade and investment while also enhancing regional competitiveness.
