State Bank of India (SBI) has secured a EUR 100 million Line of Credit agreement with Agence Française de Développement (AFD) at GIFT City to promote green financing initiatives. This partnership aims to support climate mitigation and adaptation projects, furthering India’s transition to a low-carbon economy. SBI intends to build a green loan portfolio comprising […]
Economic Affairs Secretary Anuradha Thakur affirmed India’s commitment to achieving its fiscal deficit target of 4.4% of GDP by 2025-26, despite recent concerns. She highlighted the economy’s strong fundamentals, noting positive private consumption and robust public and private capital expenditure. India’s impressive 7.
The Commerce Ministry of India is developing a strategy. This strategy aims to support Indian exporters facing new US tariffs. The plan includes easing liquidity and offering flexibility to SEZ units. It also promotes import substitution. E-commerce export hubs will be operationalised. The government will focus on financial and non-financial support.
RBI Governor Sanjay Malhotra highlighted India’s imminent rise to the world’s third-largest economy, attributing this progress to the Pradhan Mantri Jan Dhan Yojana’s success in bolstering financial inclusion. Over 55 crore accounts have been opened, integrating diverse populations into the nation’s economic growth. He urged account holders to update KYC details and enhance digital literacy
Piyush Goyal urged Indian businesses to explore global opportunities, noting the domestic market’s comfort zone. He dismissed negative narratives, highlighting the 7.8% GDP growth and resilience against US tariffs. Goyal encouraged value addition and government support, while the UAE affirmed strong India partnership amidst global trade shifts.
India’s foreign exchange reserves decreased by $4.386 billion, reaching $690.72 billion in the week ending August 22, according to the RBI. This decline was primarily driven by a fall in foreign currency assets and gold reserves. Despite this, India’s economy demonstrated strong growth, expanding by 7.8% in April-June, making it the fastest-growing major economy.
Forex watch: Reserves fall $4.38 bn to $690.72 bn, FCA and gold drag holdings Read More »
Despite President Trump’s tariffs, the Federal Reserve’s preferred inflation measure remained steady in July, while core inflation saw a slight increase, indicating ongoing price pressures. This data reinforces the Fed’s cautious approach to interest rate cuts, as inflation remains above the central bank’s 2% target. Trump has criticized Fed Chair Powell for not implementing aggressive
US price gauge steady in July; core inflation ticks higher, Fed cautious on rate cuts Read More »
Chief Economic Advisor anticipates India’s economy to grow between 6.3% and 6.8% in FY26, dismissing concerns about high US tariffs causing significant risks. The economy expanded by 7.8% in April-June, driven by a robust farm sector, outpacing China’s growth. Manufacturing activity remained steady, contributing to the overall positive economic outlook.
Gold prices in the national capital soared to a record high of Rs 1,03,670 per 10 grams, driven by persistent buying, a weaker rupee, and global uncertainties. Silver prices eased after reaching record highs, while international markets saw spot gold remain steady. Market participants are closely monitoring US-India trade tensions and the upcoming US PCE
US stocks experienced a pullback on Friday following recent record highs, influenced by steady inflation data. The S&P 500 dipped 0.5%, while technology shares, particularly Dell, faced declines. Despite inflation remaining above the Fed’s target, expectations for a potential rate cut in September persist, impacting bond yields and market sentiment.
