Experts of both the countries will meet by mid-September 2016 to further discuss the modalities for the reciprocal bilateral implementation of AEOI between India and Switzerland with a view to reaching an agreement at the earliest, possibly by the end of the year
Bajaj Auto, the king of the market for CNG-powered passenger three-wheelers, now wants to replicate this dominance in two-wheelers. The difference is that while the former is zooming - registrations for CNG-powered passenger three-wheelers nearly doubled during January-December 2023 - the latter, meaning a market for CNG-powered two-wheelers, does not exist.
With economic activity still to reach pre-pandemic levels, the RBI may slow down the pace of rate hikes until next year to quell soaring inflation while supporting growth, the Asian Development Bank (ADB) says in its latest report. The Manila-based multilateral funding agency has raised the inflation forecast for the current fiscal year ending in March 2023 to 6.7 per cent from its earlier projection of 5.8 per cent. For the next fiscal year too, the forecast has been revised upwards to 5.8 per cent from 5 per cent earlier.
The MEPs said they stand by India in its fight against terrorism.
Modi hailed the close defence cooperation between the two countries and welcomed the completion of the logistics agreement between the two navies.
'For no other leader of India do so many people turn up for an event every year without invitation.'
India has built up buffers against cyclical difficulties and has ample foreign exchange reserves to withstand pressure on credit worthiness, S&P Global Ratings said on Thursday. Speaking at the India Credit Spotlight 2022 webinar, S&P Sovereign & International Public Finance Ratings director Andrew Wood said the country has a strong external balance sheet and limited external debt, making debt servicing not so expensive. "The country has built up buffers against cyclical difficulties like those, which we are experiencing right now," Wood said.
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".
'Make in India' could suffer the same fate as did privatisation and the command economy, says Ajit Balakrishnan.
The India-Japan global partnership is based on shared democratic values and respect for the rule of law and promotes peace and stability in the Indo-Pacific, Prime Minister Narendra Modi said on Monday after holding wide-ranging talks with his Japanese counterpart Fumio Kishida.
A yellow glow is likely to stand out amid grey geopolitical clouds in 2023, with gold price projected to touch Rs 60,000 per 10 grams in the Indian market as more investors veer towards safe-haven assets. In a year where volatility was more a norm than an exception, gold prices in the international market oscillated from a peak of $2,070 per ounce in March to a low of $1,616 per ounce in November and is steadily recovering since then, according to market experts. At the beginning of 2022, gold prices were around $1,800 an ounce.
The latest balance of payments data released by the Reserve Bank of India (RBI) last week indicate that the CAD in fiscal 2010-11 could be anywhere between 3.5 and 4.0 per cent of gross domestic product (GDP).
'The consecration of Ram Lalla in Ayodhya has demoralised them.' 'And, now it is reflecting in their individual reactions as they are losing hope to take on the BJP in 2024.'
It would be a difficult task for the Indian economy to reach the $5-trillion mark a year before the International Monetary Fund (IMF) projection of 2026-27. Pankaj Chaudhary, minister of state for finance, said in the Rajya Sabha on Tuesday that the government is taking steps to make the country a $5-trillion economy at a date earlier than the IMF's projection. In that context, it would not be difficult to meet the projection in the third quarter of FY27.
'A stable and strong Pakistan with an anti-India mindset and hatred is not good for us.'
The group companies now lead the market capitalisation league table in sectors such as ports, power generation, gas distribution and transmission, and power transmission and distribution, ahead of incumbents in both public and private sector. This has Gautam Adani family the second wealthiest in business in India.
The competition for the worst or most perilous 10 years has always been between the 1960s and the 1980s, points out Shekhar Gupta.
Before resigning as an auditor of an Adani Group firm, Deloitte had sought an independent external examination of allegations made by a US short-seller but the company said the allegations had no effect on financial statements and the reasons cited for quitting were not convincing to warrant such a move. In a 163-page filing with stock exchanges relating to Deloitte Haskins & Sells LLP's resignation, Adani Ports and Special Economic Zone (APSEZ) said that in meetings with its leadership, Deloitte indicated concern over a lack of a wider audit role as auditors of other listed Adani companies. However, the firm conveyed to the auditor that it was not within its remit to recommend such appointments as other entities are "completely independent".
After a $110 billion rout in market value, embattled Adani group got some reprieve on Tuesday after shares of most of its listed firms rebounded on bourses and international rating agencies said there was no credit risk for lenders with exposure to the group. The group, which is in the midst of a political storm after US-based short-seller Hindenburg Research's adverse report dated January 24 triggered a meltdown in group stocks wiping out billions of dollars in market value, also had a mixed day with the quarterly results of four of its entities, particularly Adani Ports and Special Economic Zone reporting a 12.94 per cent decline in consolidated net profit to Rs 1,336.51 crore for the December quarter 2022. Shares of flagship firm Adani Enterprises settled nearly 15 per cent higher at Rs 1,802.50 apiece while shares of Adani Wilmar jumped 5 per cent to end at Rs 399.40 on BSE.
Banks have raised concerns over the new international trade settlement in rupee, fearing that facilitation of such a mechanism could result in them facing the ire of economic sanctions by the West, people aware of the matter said. Large banks with overseas operations have sought clarity and assurance from the Reserve Bank of India (RBI) that they will not be targeted with sanctions for facilitating rupee trade with a sanction-hit country such as Russia. The present payment mechanism is a shift from earlier such arrangements, like the one with sanction-hit Iran, which involved banks facilitating settlement of international trade that did not have business in the sanctioned nation.
Ahead of the 2023-24 Union Budget, the thinking at the top level of the central government is clear: Gross domestic product (GDP) growth of 6-6.5 per cent is a comfortable enough target for FY24 and the focus should be on fiscal consolidation to ensure that the sovereign cost of borrowing does not become prohibitively expensive in a high-interest rate environment, according to people in the know. Those aware of deliberations between the Prime Minister's Office (PMO) and the Ministry of Finance said while the Budget would look to strike a balance between infrastructure investment and welfare schemes, it is unlikely to be populist, though it will be the last full-year Budget before the 2024 Lok Sabha election. Incidentally, 6-6.5 per cent GDP growth is what the upcoming 2022-23 Economic Survey is expected to project for FY24.
Investors became poorer by over Rs 4.47 lakh crore on Friday as markets faced severe drubbing, mirroring weak trends in global equities. The 30-share BSE benchmark dived 866.65 points or 1.56 per cent to settle at 54,835.58. During the day, it tumbled 1,115.48 points or 2 per cent to 54,586.75.
A statement from the finance ministry said, 'it shall be the policy of the Sri Lankan government to suspend normal debt servicing...shall apply to amounts of affected debts outstanding on April 12, 2022'.
Equity benchmark BSE Sensex closed at an all-time high of 62,272.68 on Thursday, tracking a firm trend in global markets after the US Fed minutes indicated a slower pace of rate increase that bolstered investors' sentiment. Extending its rally to the third straight day, the 30-share BSE benchmark rallied 762.10 points or 1.24 per cent to settle at 62,272.68, its record closing peak. During the day, it jumped 901.75 points or 1.46 per cent to its lifetime high of 62,412.33.he broader NSE Nifty gained 216.85 points or 1.19 per cent to end at 18,484.10.
Air-India, India's flagship international carrier, on Thursday launched its first flight to the Chinese metropolis of Shanghai, marking the burgeoning trade and economic exchanges between the two neighbouring countries.
'At the heart of the strategic relationship between our countries are economic ties.'
While the market for satellite broadband currently is small, the potential is large as an estimated 30 per cent of the country does not have reliable terrestrial broadband services.
Modi held comprehensive talks with Singapore Prime Minister Lee Hsien Loong on ways to enhance cooperation in key sectors including trade and investment.
Automotive (auto) and auto ancillary stocks have been in the fast lane thus far in 2023-24 (FY24), with the National Stock Exchange Nifty Auto Index surging nearly 27 per cent, outperforming the Nifty50, which has gained roughly 11 per cent during this period. The top-gear performance of auto stocks at the bourses, according to A K Prabhakar, head of research at IDBI Capital, has been triggered by the premiumisation of products across vehicle manufacturers, which has seen vehicle sales remaining relatively stable. "It is not about higher sales figures now, but about premiumisation.
India's inclusion in JP Morgan's bond index can channel billions of dollars into India. How will the government securities market handle it?
Billionaire Gautam Adani's group on Monday listed out details of the $2.87 billion stake sales in group firms since 2019 and how $2.55 billion of this was ploughed back into business, as it looked to counter Congress leader Rahul Gandhi's claim of Rs 20,000 crore coming in to the conglomerate through 'shell companies'. While investors such as Abu Dhabi-based global strategic investment company, International Holding Company PJSC (IHC) invested $2.593 billion in group firms such as Adani Enterprise Ltd and Adani Green Energy Ltd (AGEL), promoters sold stake in Adani Total Gas Ltd and AGEL to raise $2.783 billion. "These funds were reinvested by promoter entities to support the growth of new business and in portfolio companies such as Adani Enterprises Ltd, Adani Ports and Special Economic Zone Ltd, Adani Transmission Ltd and Adani Power Ltd," the group said.
While the two sides' objectives may appear to differ, it is clear that both India and China are emphasising on the common minimum possible areas of cooperation between them, says Srikanth Kondapalli.
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
The RBI governor also said he is not 'overly' worried about any interest rate hike by the Federal Reserve, saying the country had enough foreign exchange reserves.
The members resolved to foster a global economic governance architecture that is more effective and reflective of current global economic landscape
'The Modi visit will prove to be the watershed where India and the United States commenced technology trade and transfer.'
'There is a view that there is a Pakistan angle to this.' 'Pakistan has a large presence in Qatar and would want India to be blacklisted.'
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
China's high-tech research vessel 'Yuan Wang 5' is on a 'mission of peace and friendship' and its docking at a Sri Lankan port will deepen bilateral relations in the field of space, science and technology, according to the controversial ship's captain.
Equity benchmark Sensex dropped over 430 points on Tuesday as investors booked profits in banking and financial stocks after sharp gains in the previous session. Investor focus returned to the Russia-Ukraine war and rising oil prices, traders said. The 30-share BSE gauge ended 435.24 points or 0.72 per cent lower at 60,176.50.
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