'Obviously, there is always an argument that a weaker rupee could push up, to some, extent exports.' 'The fact that the rupee has appreciated against the Chinese currency is pushing a lot of Chinese imports into the Indian market.'
IndiGo Airlines signs $2.6-billion leasing and financing MoU with Industrial and Commercial Bank of China.
Dr Rakesh Mohan, former RBI deputy governor, and Dr Pronab Sen, former chairman of the Indian Statistical Commission discuss the issues facing the Indian rural and manufacturing sectors and what the government must possibly do to improve demand and perk up the Indian economy
'Mr Modi has a huge opportunity before him.' 'Whether he grabs it the way Mrs Gandhi did in 1969 or squanders it as he did in 2014 will determine his economic legacy,' notes T C A Srinivasa-Raghavan.
'By the time the goods that were sent from December onwards reached stores in Europe, they became dead inventory as the stores there were closed by then.' 'Those that were in the warehouse there also became dead inventory. Those that reached the ports there also became dead inventory.' 'And what Tirupur produced in March is still here, and they have also become dead inventory.'
Sharma was addressing the members of the Board of Trade, a body comprising captains of Indian industry.
Here's the full text of President's Ram Nath Kovind's address to the joint sitting of both houses of Parliament on the first of Budget Session 2022.
'Overall, compared to the previous episode, we are in a better shape because the vaccine is already out there and vaccination drives are proceeding'
Govt restrictions on import biting deep; trade petitions for relief with units, workers idling.
Anand Rathi recently carried out a research on the behaviour of the economy and CAD.
The economy could grow at 6-6.5 per cent this fiscal year (2019-20 or FY20), said Chief Economic Advisor Krishnamurthy Subramanian, revising his earlier estimate of 7 per cent in the Economic Survey. In an interaction with Arup Roychoudhury, he said supply-side measures, including corporation tax cuts, will boost consumption and demand, and non-tax revenue may make up for shortfall in tax revenues.
Traders who pay in rupees generate over Rs 50 crore in daily cryptocurrency volumes. Indians actually invest a great deal more in forex-denominated trades, observes Devangshu Dutta, explaining why it is impossible to ban cryptocurrency.
While far from being a currency war, India does not have much of an option but to depreciate to accommodate its exports at a time when China shows its intent to let its currency depreciate.
Boost to dairy sector will generate jobs
The first major devaluation of the rupee happened in 1966 when it was pegged against the US dollar at Rs 4.75/$
With EU, it is part of the FTA that we will need to negotiate.
The upsurge was further supported by a firming global trend.
The sudden movement of the rupee - post the monetary policy - is not a reason to panic, said currency dealers. According to them, a correction was overdue for the rupee that remained the best performing currency in the region for well over a month. The rupee closed at 74.72 a dollar on Friday from its previous close of 74.60. It had dropped 1.52 per cent against the dollar on April 7 after the Reserve Bank of India (RBI) announced its monetary policy, committing to buy Rs 1 trillion of bonds in the June quarter. A weak rupee goes well with the export narrative of the government, and is consistent with the RBI's intervention strategy that prevented an appreciation.
The disturbing aspect about the fall is that it comes as the US and European economies are relatively more stable and improving
'People are doing a lot of trading.' 'Short-term euphoria can be seen.' 'Retail participation is best through MFs and PMS.'
The BJP still does not have a majority in Upper House of Parliament, the Rajya Sabha, and this will pose hurdles to the party's legislative reform agenda
'This reluctance to respond forcefully to Chinese PLA provocations and outright aggression has as much to do with Prime Minister Modi personally, as with the institutional mindset of the MEA or even the Indian Army.' 'They are scarred by the 1962 War and are still cowed by China.'
Nitin Desai suggests some concrete measures to revive investment and boost growth.
India's current account deficit (CAD) will be contained at USD 45 billion this financial year, well below the record high level of 2012-13, Finance Minister P Chidambaram said on Monday.
The Russian-Ukraine war can hit the global supply chains that are already constrained due to the pandemic and the worst impact will be on ongoing chip shortage because the warring nations brutally control supplies of key raw materials that go into making semiconductors, warns a report. Since Russia controls as much as 44 per cent of global palladium suppplies, Ukraine produces a significant 70 per cent of the global supply of neon -- the two key raw materials that go into making chips. The markets can expect the global chip shortage, that began with the pandemic, to worsen if the military conflict lingers on, says a Moody's Analytics report on Friday.
'Reports of hitherto 'atmanirbhar' breadwinners having to stand in line for a plastic bag of khichdi or, travelling thousands of kms with nothing but packets of biscuits, have not moved the prime minister,' observes Jyoti Punwani.
'Will people who buy iPhones stop buying iPhones to help swadeshi models?' 'There should be some advantage for the consumer to make them buy a Made in India product.' 'Patriotism and nationalism are good words, but in business, it won't work.'
We could be on the brink if our export industries actually start losing jobs, says Shreekant Sambrani.
'Internet, healthcare and life insurance are a few sectors which offer solid long-term decadal potential.'
'GIFT City is now on a growth trajectory,' says Tapan Ray, MD and group CEO, GIFT City, 'The time has come for the GIFT City to take the big leap and emerge as the next financial hub of Asia.'
The leaders said trade ties were still fragile
World Bank's Doing Business Indicators ranks India (out of 189) at 132 for trading across borders.
The economists, who were surveyed, also felt it will take time for banks to make any further reduction in deposit rates
The People's Bank of China cut its daily reference rate for the currency by a record 1.9 per cent, the biggest loss since January 1994.
'Growth would have to be 7% in the October-March period, if the year as a whole is to clock 6%.' 'Who would bet on that when, in the world of real numbers, both exports and imports have continued to fall, car sales have continued to slump, and the industrial production index shows yet again a drop in output?', asks T N Ninan.
The central bank's currency management will be critical over the next few months. A weaker rupee could help to revive exports. But, the currency must fall slowly and in controlled fashion, says Devangshu Datta.
India is experiencing jobless growth and skepticism abounding that the country may not be able to cash in on its demographic bonus
'Considering that an Internet company's market value is largely determined by its direct access to consumers for digital services, and largely served outside a sovereign country's control, it would appear reasonable in trade terms to discuss fees for a seat at the proverbial 'table' of opportunities in the largest open consumer market,' argues Venki Nishtala.
