All stories by Asit Ranjan Mishra
'Hard To Ignore India As Investment Opportunity'Rediff.com19 hours ago
'The assessment of most people is that there is a stable economic and political environment in India and that is attractive to investors.'
'FICCI is focusing on start-ups'Rediff.com19 May 2023
'For our traditional membership base, it would be an access to disruptive ideas,' FICCI President Subhrakant Panda tells Asit Mishra/Business Standard.
India Moves From China to Taiwan For High-Tech ImportsRediff.com18 Apr 2023
India's overall imports from Taiwan during April-February rose by 34 per cent to $7.5 billion.
Wait, your US visa could be coming from China!Rediff.com31 Mar 2023
Due to the huge pile-up of visa applications, the US consular officers in the neighbouring country are now adjudicating Indian visa applications where interview requirements have been waived.
Fiscal slippage in FY23 likely as govt seeks to spend Rs 1.5 trn moreRediff.com14 Mar 2023
The government may be staring at a modest slippage in fiscal deficit for 2022-23 (FY23), with the Ministry of Finance seeking parliamentary approval for additional spending through a second and final tranche of supplementary demands for grants. On Monday, as the Budget session of Parliament resumed, Finance Minister Nirmala Sitharaman sought Parliament approval for additional gross spending of Rs 2.7 trillion in FY23 (which ends on March 31). While net cash outgo is pegged at Rs 1.48 trillion, the rest will be matched by savings or enhanced receipts, the finance ministry said.
Why Scotch Whisky Makers Are WorriedRediff.com13 Mar 2023
India is the UK's second-largest market by volumes for Scotch, importing the equivalent of 136 million bottles, worth £146.2 million, in 2021.
FinMin flags El Nino risk for inflation, farm outputRediff.com24 Feb 2023
The finance ministry on Thursday raised concerns over the possible impact of El Nio conditions on India this year, saying if recent forecasts came true, the country could see lower agricultural output and higher inflation. "Some meteorological agencies predict the return of El Nio conditions in India this year. "If these predictions are accurate, then monsoon rains could be deficient, leading to lower agricultural output and higher prices," the ministry said in its monthly economic review.
Share of US in India's crude basket rises to record 14% in DecemberRediff.com15 Feb 2023
India has substantially increased its crude oil imports from the US, with the country's share in India's crude basket hitting a record 14.3 per cent in December, commerce ministry data showed.
India, China likely to drive half of 2023 global growth, says IMFRediff.com31 Jan 2023
The International Monetary Fund (IMF) has said India and China will account for half of the global economic growth in 2023, as the multilateral agency retained its growth forecast for Asia's third-largest economy for 2023-24 (FY24). "India remains a bright spot. Together with China, it will account for half of global growth this year, versus just a tenth for the US and euro area combined," the IMF said in its latest update to the biannual World Economic Outlook. Growth in India is set to decline from 6.8 per cent in 2022 (FY23) to 6.1 per cent in 2023 (FY24) before picking up to 6.8 per cent in 2024 (FY25), the global lender said while citing "resilient domestic demand despite external headwinds".
'Finance minister's fiscal marksmanship has been very good'Rediff.com30 Jan 2023
'This government has always been fiscally conservative. It never resorted to fiscal profligacy.'
Gold import curbs hit gems and jewellery exporters hardRediff.com27 Jan 2023
A 75 per cent dip in gold imports in December, triggered by government's efforts to curb non-essential imports, led to contraction in India's overall imports for the first time in 25 months, while a resultant supply constraint of gold contributed to a 15 per cent decline in gems and jewellery exports. Gold imports dropped to $1.2 billion in December while gems and jewellery exports stood at $2.5 billion. India's merchandise imports in December contracted 3.5 per cent to $58.24 billion while merchandise exports slid 12 per cent to $34.48 billion, leading to a marginal sequential widening of the trade deficit to $23.8 billion in December.
Indian Economy To Grow At Robust 6.6%: World BankRediff.com11 Jan 2023
'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession.
November exports to key markets bounce back after October dipRediff.com4 Jan 2023
Exports had recovered in November to grow at 0.59 per cent from a 12 per cent contraction in October.
Census unlikely to take place before 2024 Lok Sabha electionsRediff.com16 Dec 2022
Although the Disaster Management Act for Covid containment measures, considered a hindrance in conducting the census, was withdrawn in March this year the Centre has not taken any further action on conducting the much-delayed population enumeration.
After curbing import of toys, India to turn tap off for Chinese fans, smart metersRediff.com3 Dec 2022
We are looking at bringing quality control orders for mass production items such as smart meters and ceiling fans. This will benefit our own industry and consumers, a government official said.
Will India join e-commerce deal at WTO?Rediff.com29 Nov 2022
India is unlikely to join the ongoing negotiations for a plurilateral deal on e-commerce at the World Trade Organization (WTO), notwithstanding a change in stance on data localisation and cross-border flow of data. Under the new draft digital personal data protection (DPDP) Bill, put out on Friday for public consultation, the government has proposed free cross-border flow of data with 'friendly' nations, significantly easing its earlier stance on data localisation. India has so far stayed out of a group of 87 countries, including the US, European Union, China, and Japan that are negotiating trade-related aspects on e-commerce since December 2017.
Collateral-Free Debt Funding For Start-UpsRediff.com25 Oct 2022
The credit guarantee cover under the scheme would be both transaction-based (for single eligible borrowers) and umbrella-based (for a group of eligible borrowers).
56 mn Indians may have turned poor in 2020 due to pandemic: World BankRediff.com7 Oct 2022
About 56 million Indians may have plunged into extreme poverty in 2020 as a result of the pandemic, increasing the global tally by 71 million and making it the worst year for poverty reduction since World War II, according to fresh estimates by the World Bank. "The global goal of ending extreme poverty by 2030 is likely to be missed: By then, about 600 million people will remain in abject poverty. A major course correction is needed," Indermit Gill, chief economist at the World Bank, tweeted. The World Bank in its latest "Poverty and Shared Prosperity" made fresh estimates of poverty using a new extreme poverty line based on the purchasing power parity (PPP) of $2.15, the earlier one being at $1.9.
Dip in demand from China, Italy may have hit India's merchandise exportsRediff.com5 Oct 2022
A decline in external demand from countries, such as China, Bangladesh, and Italy, is driving down India's merchandise exports that could have led to exports contraction in September for the first time in 19 months. Disaggregated data available till August showed, among top 50 export destinations of India, shipments contracted to 19 and 17 economies in July and August, respectively. In contrast, exports had declined only to six among the top 50 destinations in June.
Department of Commerce plans dedicated trade promotion bodyRediff.com24 Aug 2022
To set up a future-ready administration geared towards the target of $2 trillion exports by 2030, the Department of Commerce has decided to set up a dedicated trade promotion body to drive overall promotion strategy, export targets, and execution as part of a restructuring exercise. The trade promotion body will formulate and drive overall trade promotion strategy; create and drive India's branding across focus markets and sectors; drive coordinated action across missions, states and export promotion councils; strategic initiatives, including advisory and buyer-seller meet; and develop digital platforms for exporters and buyers. Based on a 14-volume 'restructuring dossier' by the Boston Consulting Group, the commerce department has already implemented some of the recommendations.