Trade deficit marginally widened to $9.85 billion as against $9.72 billion in February 2019.
Institute of Economic Growth on Friday said domestic interest rates are set to rise in the short term due to surging inflation and hike in international rates.
Dwaipayan Bose simplifies the whys and hows of revisiting your financial goals
The US on Wednesday favoured a thorough investigation into killing of a Khalistani separatist in Canada in June, two days after Canadian Prime Minister Justin Trudeau's allegations of a "potential" involvement of Indian government agents in the case kicked up a major diplomatic row between New Delhi and Ottawa.
The Indian equity markets have significantly increased in importance within the emerging market (EM) basket of stocks in recent years. Since 2018, India's weighting in the Morgan Stanley Capital International (MSCI) EM Index - tracked by passive funds with assets of nearly $500 billion - has doubled, while the number of domestic stocks has grown by almost 70 per cent.
India and the US on Monday committed to further improving bilateral ties, exploring alternate mechanisms for funding renewable energy and actively pursuing the G20 agenda which includes strengthening MDBs and taking coordinated action to deal with climate change. Several issues, including climate action, rising indebtedness in low and middle income countries and digital public infrastructure, figured during a bilateral meeting between Finance Minister Nirmala Sitharaman and US Treasury Secretary Janet Yellen held on the sidelines of the G20 meeting of Finance Ministers and Central Bank Governors. India, Sitharaman said, will "look forward to furthering ... bilateral interests through development cooperation and new investment opportunities through Alternate Investment platforms for renewable energy."
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
Life Insurance Corporation of India (LIC) February 8 for the first time ever crossed the Rs 7 trillion market capitalisation, as the stock price of state-owned insurer hit a new high of Rs 1,144,45, on rallying 10 per cent on the BSE. The board of directors of the Corporation are scheduled to meet today i.e. February 8, 2024, to consider a proposal for declaration of interim dividend for the financial year 2023-24 (FY24). The board will also consider and approve the unaudited financial results for the quarter and nine-month period ended on December 31, 2023.
The sectors that exhibited major growth during the April-September, 2011, period include engineering, gems and jewellery and petroleum.
The impact of currency depreciation can also be mitigated by holding a portion of your investment portfolio in dollar-denominated assets.
India has defended its decision to ban export of wheat and rice at a WTO meeting even as some member countries have flagged concerns over the country's stand, an official said. At a meeting last week in Geneva, Senegal, the US and the European Union raised questions over this decision, stating it could have adverse implications on global markets. In May, India restricted export of wheat to enhance domestic availability.
The bulk of of trading on stock markets is done algorithmically, by computerised clerks working at the behest of human traders.
'We are engaging in substantial open market sales of both wheat and rice to control food inflation; special measures of market intervention in vegetables, pulses and oil seeds were also taken to cushion the impact.'
If investing in Bitcoin, adopt a three to five-year horizon and invest systematically to gain from its volatility.
Bajaj Finserv was the biggest gainer in the Sensex pack, rising 2.21 per cent, followed by Titan, ITC, Kotak Mahindra Bank, HDFC Bank, HDFC, Bajaj Finance, IndusInd Bank, ICICI Bank, HUL, Reliance Industries and Mahindra & Mahindra. Wipro, Tata Consultancy Services, Power Grid and Tech Mahindra were the laggards.
All the global transitions are working in India's favour, giving it the potential to become a force in today's uncertain world, but one of the country's biggest challenges is inclusive growth, Tata Sons chairman N Chandrasekaran said on Monday. In his address at the JRD Tata Oration, the head of the Tata group also asserted that Artificial Intelligence (AI) is here to stay and it will be beneficial if India prepares for it. Post the cold war era of relative stability and prosperity, the world appears to have given way to unpredictable conflicts and economic uncertainty, he said, adding that the pandemic resulted in supply chain shocks of gigantic proportion.
Exports dipped 1.6 per cent to 8.95 trillion yuan.
The China-brokered deal between Iran and Saudi Arabia to revive diplomatic ties should not be a matter of concern for India as the pact would provide regional stability and would be beneficial for New Delhi's interests as well, Iranian ambassador Iraj Elahi said on Friday.
Earlier, the rupee resumed slightly lower by 60.77 as against the last closing level of 60.76 at the Interbank Foreign Exchange Market but it immediately gained strength to quote 60.69 in early trade on bouts of dollar selling by exporters.
Dealers anticipated a sharp rise in jewellery demand this wedding season, but then came demonetisation.
Singapore continued to be the largest source of FDI in India followed by Mauritius, the US, the Netherlands and Japan.
Official sources say that the finance ministry is aware of the possible spike in smuggling activity and has already asked intelligence agencies to tighten their vigilance and come down on the unofficial entry of gold into India.
The government has asked jewellers to provide information on purchases of gold bars or jewellery worth more than Rs 500,000 by the end of this month, a move seen keeping a check on big transactions amid rising smuggling.
Imports, too, grew by 41.8 per cent to $38.4 billion in August, translating into a trade deficit of $14 billion during the month, as per the data.
China had been trying hard to enter the Indian market, without opening its own to Indian products. There is an economic crisis in India-China relations that the Chennai Connect barely scratched the surface, points out Srikanth Kondapalli.
To make money, invest in both good and bad times; otherwise the entire exercise is futile, experts tell Joydeep Ghosh & Sanjay Singh
Prime Minister Modi will embark on his first state visit to the United States at the invitation of President Joe Biden and First Lady Jill Biden in June.
Sitharaman cancels Myanmar trip at last moment citing launch of Modi's Jan Dhan Yojana.
Leader of Opposition Mallikarjun Kharge, speaking on the Motion of Thanks on the President's address, charged the government with not delivering on its various promises, including generating two crore jobs per year.
Macroeconomic data announcements, the Covid situation in China and global market cues would guide Dalal Street in the first week of trading in the New Year, analysts said. Markets would also keep a track on rupee movement, Brent crude oil prices and foreign fund investment trends. "As market players attempt to understand the Fed's stance, Indian markets may respond in lockstep with their international counterparts when the Federal Open Market Committee (FOMC) minutes are made public later this week.
'You should do a detailed study on what exactly you want for the team looking at the season ahead.' 'If you are not clear with your plans, you will get carried away at the auction table,' says Pravin Amre, former talent scout chief at the Delhi Capitals.
Imports rose by 1.44 per cent to $43.44 billion in March 2019.
A few days back, Atul Ganatra, president of the Cotton Association of India, presented a grim scenario of the crop's prospects in the 2024-25 season that starts in October. Addressing the association's annual general meeting, Ganatra said the area under the crop could go down by at least 10 per cent in the coming season due to falling yields and realisation, leading to farmers losing interest. The fear of a decline in acreage comes against the backdrop of India's cotton production probably falling to its lowest in a decade, according to estimates.
CAD refers to the difference between inflow and outflow of foreign exchange that has a bearing on exchange rate.
'With Trump, the relationship was very transactional, whereas with President Biden it is very structured.'
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The trade deficit stood at $6.54 billion in February this year.
Chinese alumina refining and metal smelting technologies have emerged as a match for the best anywhere in the world. In fact, Vedanta and Hindalco have bought technologies from China. Our aluminium makers will be haunted by twin fears of rising imports and low metal prices squeezing margins over a long time.
In China, premiums fell to about $1.50 an ounce on Friday from $2-$3 an ounce.
Pakistan-India bilateral relations remained frozen for the fourth year over the vexed Kashmir issue but analysts hope the strained ties could be repaired if Nawaz Sharif becomes the prime minister for a record fourth time in the general elections in February in the absence of his main challenger Imran Khan who is in jail in multiple cases.
The Netherlands has emerged as India's fifth-largest export destination in 2021-22 (FY22), jumping from its 10th position a year ago. Exports to the fifth-largest economy in the European Union (EU) bolted 94 per cent to $12.5 billion in the financial year ended March 31. In FY22, the Netherlands surpassed Hong Kong, Singapore, the UK, Germany, and Nepal to become India's largest export destination in the EU. Germany, which was earlier India's top European export destination (eighth position), has now dropped two ranks to 10th place.
