Union Finance Minister Nirmala Sitharaman announced the government's plan to establish a high-powered committee to examine reforms for the banking sector, aligning it with the vision of a 'Viksit Bharat' (Developed India) and India's next phase of growth.
New Delhi must look for formal, institutional statements issued directly from Washington rather than rely on casual pronouncements meant for local audiences, notes Ambassador Rajasekhar.
The US senate last week passed a bill that would allow Washington to impose tariffs on major buyers of Russian energy.
A Parliamentary Standing Committee on Commerce has urged the Indian government to swiftly conclude the proposed India-US Bilateral Trade Agreement (BTA), while ensuring India's interests are protected, recommending complete exemption for key export products like generic medicines and smartphones from future US tariff increases.
Prime Minister Narendra Modi, in his Independence Day address, highlighted technology and innovation as central to India's goal of becoming a developed nation by 2047. He called for India to lead in emerging technologies like AI, quantum computing, and space, announcing a massive AI skilling initiative for one crore youth. Modi stressed the importance of becoming a global innovation hub, bolstering energy security with nuclear power, and strengthening cybersecurity.
Prime Minister Narendra Modi has called upon India's youth to dream big, assuring them of government support and resources, including a Rs 1 lakh crore Innovation Fund, to bolster the country's burgeoning startup ecosystem and drive its journey towards becoming a developed nation.
"Our endeavour is to bring headline inflation in line with the target over the medium term," said RBI Governor Sanjay Malhotra, addressing concerns about the central bank's policy stance and economic outlook.
'From day one, our vision has been to build a company that develops and owns the technologies defining the future of space.'
The US push for clearer crypto rules is putting pressure on India to fill its own regulatory gap for virtual digital assets.
Veteran pacer Bhuvneshwar Kumar has declared himself 'absolutely ready' for a potential recall to the Indian team, including for the World Cup, following spin legend Ravichandran Ashwin's endorsement for his return.
Researchers at IIT Indore have developed a groundbreaking method to convert carbon dioxide and glycerol, two common waste materials, into valuable green chemicals like lactic acid and formic acid in just seven minutes. This low-energy process uses a specially designed ruthenium-based catalyst and microwave heating, offering a sustainable solution for waste management and green manufacturing.
The Asian Development Bank (ADB) has revised down India's GDP growth forecast for fiscal year 2026-27 (FY27) to 6.6 per cent from an earlier 6.9 per cent, primarily attributing the change to elevated energy prices stemming from the Middle East conflict. Despite this moderation, India is still expected to remain the world's fastest-growing major economy.
Indian benchmark indices Sensex and Nifty surged significantly in early trade, mirroring a global rally and a sharp decline in crude oil prices following the finalisation of a peace deal between the US and Iran to end their 107-day conflict and reopen the Strait of Hormuz.
The Indian government has clarified that consumers will not be charged for UPI transactions, and most merchant transactions will also remain free. This comes amidst speculation following an amendment to the Payment and Settlement Systems Act, 2007. Any future merchant discount rate (MDR) would be nominal, threshold-based, and aimed at ensuring UPI's long-term sustainability and infrastructure development.
'A favourable base, last year's policy measures, the carryover impact of a good monsoon and improving earnings should all help.'
A new report by EY-Parthenon and CREDAI indicates that Generative AI (GenAI) could inject USD 14-17 billion into India's real estate economy over the next seven years. The technology is expected to significantly enhance operational efficiency, boost sales velocity by 30-50 per cent, and accelerate product launches, offering competitive differentiation and improved customer experiences for developers.
Indian benchmark indices Sensex and Nifty rallied in early trade, driven by a significant decline in crude oil prices and positive developments on the geopolitical front, alongside strong performance in blue-chip IT stocks. Track Sensex, Nifty on July 2, 2026
Torn between loyalty to their comrades and disillusionment towards the cause for which they are fighting, they are beginning to cave in. Morale has been the casualty, points out Vice Admiral Biswajit Dasgupta (retd).
The Reserve Bank of India (RBI) maintained its key policy rates for the fourth consecutive time, keeping the repo rate at 5.25 per cent, while the benchmark BSE Sensex closed 152 points higher in a volatile session, recovering from an intraday dip.
'India has initiated a bear market and we will still go lower. It has nothing to do with the economy.'
Prime Minister Narendra Modi has highlighted the risks posed by the 'weaponisation' of resources and strategic sea routes, urging India to achieve greater self-reliance in energy to mitigate vulnerabilities to overseas supplies and geopolitical tensions.
Indian pacer Prasidh Krishna achieved a historic milestone at Chennai's Chepauk Stadium, taking his maiden five-wicket haul (5/23) in ODIs against Afghanistan. This performance marked the best figures by an Indian bowler at the venue and placed him among an elite group of Indian pacers.
AI-driven job disruption, rising debt, shrinking savings and a changing global economy are reshaping India's middle class. Saurabh Mukherjea discusses jobs, entrepreneurship, investing and the future of India's economic growth on THE REDIFF PODCAST.
India's digital economy is projected to constitute nearly 20 per cent of the nation's GDP by 2030, fuelled by a growth rate twice as fast as the overall economy, according to a senior government official.
Indian benchmark stock indices, Sensex and Nifty, experienced mixed trading following the introduction of a new Closing Auction Session (CAS) for shares with futures and options (F&O) contracts, aimed at enhancing price discovery transparency. Track Sensex, Nifty on August 4
West Bengal Chief Minister Suvendu Adhikari has assured the All India Football Federation of full government support to host India's biggest-ever international football fixture against five-time World Cup champions Brazil in Kolkata on October 3. This historic match will be India's first against a top-five FIFA-ranked nation, offering crucial exposure to the national team despite initial concerns over crowd management.
'After that the burdens of an ageing population will be upon us, and the share of working age population will shrink.'
Indian benchmark indices, Sensex and Nifty, saw early gains driven by lower crude oil prices and buying in Reliance Industries, even as the Reserve Bank of India maintained its benchmark policy rate for the fourth consecutive meeting, reinforcing confidence in the domestic economy.
India emerged reasonably well from 2025. But now, the oil shock and war-related supply disruptions have again driven funds out of India and significantly weakened the rupee, points out Ajay Chhibber.
SBI Funds Management Ltd. is set to list on stock exchanges next week following its Rs 11,692 crore Initial Public Offering (IPO), which involves an Offer for Sale (OFS) of a 10 per cent stake by SBI and Amundi.
India anticipates a reduction in the United States' proposed tariffs on Indian goods under the Section 301 investigation, following New Delhi's recent notification to restrict the import of products made with forced labour.
A look at what went wrong for India in the England ODI series.
The business value of the Indian Premier League (IPL) has surged by over 11% to $20.6 billion this year, according to U.S.-based investment bank Houlihan Lokey. This growth is driven by its robust commercial model, attracting significant investor interest, as evidenced by recent franchise ownership changes and a diversified commercial ecosystem.
Morgan Stanley analysts, led by Ridham Desai, predict that the next phase of the Indian market rally will be primarily driven by the April-June quarter (Q1FY27) corporate earnings season and the performance of the monsoon.
The Indian government has defended its E20 ethanol blending programme, stating that extensive testing and field experience show no evidence of abnormal engine wear, corrosion, or reduced vehicle life, despite a potential 2-6% reduction in fuel economy.
India-China border trade via Uttarakhand's Lipulekh Pass is set to resume on August 1 after a gap of more than six years, with the neighbouring country granting permission to 20 Indian traders to visit Purang (Taklakot), according to officials.
If the government wishes that protests like the one that took place at Jantar Mantar during the last few weeks should not recur, it must refocus its energies on jobs, not just the examination system, points out A K Bhattacharya.
Most members of the Reserve Bank of India's Monetary Policy Committee (MPC) expressed concerns about inflation becoming generalised and highlighted uncertainties surrounding both inflation and growth prospects due to the West Asia conflict, according to the recently released minutes.
'The Indian private space sector is no longer a high-risk bet; it is a highly bankable, globally competitive asset class capable of easing the global small satellite launch bottleneck.'
The Congress party has accused the Modi government of creating a "deep crisis" in India's job market due to its "flawed" economic and employment policies. Citing a media report on a 27% decline in new jobs at major companies, the opposition party stated that the government is engaged in "headline management" and "politics of distraction" instead of addressing the youth employment crisis.
