Page 4 - India Economy

India notifies 8,606 tonnes of raw cane sugar exports to US under TRQ

The government on Wednesday notified exports of 8,606 tonnes of raw cane sugar under the tariff-rate quota (TRQ) scheme to the US. Shipments under the TRQ enjoy relatively low customs duty. After the quota is reached, a higher tariff applies on additional imports. "The quantity of 5841 MT (raw/refined) sugar to be exported to EU and quantity of 8606 MTRV raw cane sugar to be exported to USA under TRQ scheme from October 1, 2022, to September 30, 2023 has been notified," the Directorate General of Foreign Trade (DGFT) said in a public notice. India, the world's second biggest producer and the largest consumer of sugar, has a preferential quota arrangement for sugar export with the European Union as well. The DGFT said that the quota will be operated by APEDA.

Indian firms to double fundraising via public bond sales in H2 FY22: Report

Indian corporates are likely to raise double the amount of funds through the public issue of bonds in the second half of this fiscal than they did in the first

India to become world's third-largest economy by FY28, says IMF

Projected to grow bigger than Japan at $5.36 trillion

Growth in India, China, Indonesia will be less affected: S&P Global Ratings

Growth in large Asia Pacific economies like China, India and Indonesia will be less affected as their economies are more domestically oriented, said S&P Global Ratings on Thursday.

Govt, industry should work to make India a much larger economy: Goyal

Union Minister Piyush Goyal on Friday said the government along with the industry should work on a bigger goal to make India a developed country and aspire to become a much larger economy by 2047. If we all put our best foot forward and aspire for double-digit growth, we can be much bigger, he said addressing FICCI's National Executive Committee Meeting. Speaking on inflation, Goyal said that over the last eight years including the current slightly elevated levels, the CAGR inflation is under 4.5 per cent through our tenure. When the other countries have double-digit inflation, India continues at moderate 7 per cent. There is monitoring of prices by the government on a daily basis. We are looking at, in the next few months, inflation coming back within the RBI's band of 2-6 per cent," he added. The Minister for Commerce and Industry highlighted that India has tremendous potential with a large talent pool both to encourage design manufacturing services and the manufacturing eco-syst

Can NITI Aayogs replace State Planning Boards to spur economic growth?

Experts believe merely replacing the state planning boards with such bodies won't make them effective

How the G20 Summit can be leveraged to showcase India's tourism sector

Thrust on developing the tourism industry will help India achieve the $5 trillion economy target faster

Railway ministry mandates online booking for goods transport starting Nov 1

he new guidelines will apply to all indents placed with zonal railways, with the exception of military traffic, goods transported during natural disasters, and events identified as force majeure by au

Share of women employees in CPSEs dips to 9.35% in FY21: Survey

According to the report, the number of women employees in CPSEs declined 9.5% to 80,525 in FY21 when pandemic hit the economy

India's GDP likely to grow 7.2-7.4% in FY23, says CEA Nageswaran

Global slowdown positive for India on balance, says CEA

CEA says India poised to grow at 7% this year and for rest of decade

Economic Survey had pegged FY23 GDP growth higher at 8-8.5%

Indians optimistic on growth outlook amid high inflation: EY study

They are shifting to new brands in search for value, says multi-nation survey

'Risks to global markets could arise from central bank rate actions'

Market is building an earnings growth of 10-12 per cent for FY23, which seems achievable given the present earnings momentum and economic outlook, says Sanjay Chawla of Baroda BNP Paribas MF.

Job creation, wealth distribution priority over inflation: FM Sitharaman

The finance minister said if India and the United States joined efforts in growing their respective economies, they might be the engines of global growth within the next two decades

Moody's retains India rating and outlook, days after cutting GDP forecast

Says credit profile reflects strengths like large and diversified economy, but warns that country is highly exposed to climate change events

Global economic turmoil not to impact India's recovery, says Moody's

India's economic recovery is unlikely to be derailed by rising challenges to the global economy, higher inflation and tightening financial conditions, Moody's Investors Service on Tuesday said, affirming a stable outlook for the country's rating. Moody's saw the Indian economy expanding by 7.6 per cent in the current fiscal compared to 8.7 per cent growth in the last financial year that ended on March 31. For 2023-24, it estimates a 6.3 per cent GDP growth. It rates India at Baa3, the lowest investment grade rating. In October last year, it revised upwards the rating outlook to stable from negative. "The credit profile of India reflects key strengths, including its large and diversified economy with high growth potential, a relatively strong external position, and a stable domestic financing base for government debt," Moody's said in a note. Principal credit challenges include low per capita income, high general government debt, low debt affordability and limited government ...

Surpassing UK as 5th largest economy is a pleasure to behold, says PM Modi

Addressing the gathering, the Prime Minister paid homage to former President of India Sarvepalli Radhakrishnan, whose birthday is commemorated as Teachers Day across the country

Sheikh Hasina likely to seek India's economic support during 4-day visit

Bangladesh's growth story runs into global economic instability, expensive fuel and slowdown in textile orders

Surplus parked with RBI falls below Rs 1 trillion as liquidity shrinks

RBI's forex moves, strong credit off-take lead to faster liquidity decline

Base effect to lift India's GDP growth to double-digits in Apr-Jun: Poll

Growth would be the fastest in a year, but slightly weaker than the Reserve Bank of India's forecast of 16.2%. The data will be released at 1200 GMT on Aug. 31