After remaining in the positive zone for three months, India’s exports contracted 1.2 per cent to $33.98 billion in July, while the trade deficit widened to $23.5 billion.
Posts tagged Rediff
Auto, IT stocks boost Sensex by 150 points (14-08-2024)
Among Sensex firms, Tata Consultancy Services, HCL Technologies, Tech Mahindra, Infosys, Mahindra and Mahindra and Tata Motors were the biggest gainers. UltraTech Cement, JSW Steel, Tata Steel, Adani Ports, Power Grid and Bajaj Finserv were among the laggards.
SC verdict on royalty a jolt to mining industry (14-08-2024)
The Supreme Court verdict on mining royalty case will give a further jolt to the Indian mining industry and will have very large financial implications, as arrears may work out to the tune of more than Rs 1.5 lakh crore to Rs 2 lakh crore, industry players said on Wednesday. The Supreme Court on Wednesday upheld the power of states to levy tax on mineral rights and mineral-bearing land, and allowed them to seek refund of royalty from April 1, 2005 onwards. According to a senior mines ministry official, the verdict will have a very large financial impact on mining, steel, power and coal companies.
Wholesale inflation falls to 3-month low of 2.04% (14-08-2024)
Wholesale inflation fell to a 3-month low of 2.04 per cent in July on decline in prices of food items especially vegetables, government data released on Wednesday showed. The decline in wholesale price index (WPI) based inflation in July came after it rose for four months in a row till June, when it was 3.36 per cent. It was (-) 1.23 per cent in July last year. In April wholesale inflation stood at 1.19 per cent.
8th Eco Census likely next year; data for 7th awaited (14-08-2024)
The Ministry of Statistics and Programme Implementation (Mospi) has started preparations for the eighth Economic Census (EC), which is expected to be formally launched next year, sources told Business Standard, even as the results of the seventh edition are yet to be made public. “Centre has asked states and Union Territories (UTs) to submit requirements for funds and manpower in a bid to start work on the eighth EC. “The states and UTs are required to set up a dedicated unit to conduct the exercise.
India just shy of top-weight China in MSCI EM (14-08-2024)
The Indian equity markets will soon account for over a fifth of a key emerging market (EM) benchmark tracked by funds with assets exceeding $500 billion. This development is expected to funnel as much as $3 billion into the domestic markets. Following the latest review undertaken by global index provider MSCI, India’s weighting in the MSCI EM index will surpass 20 per cent for the first time, narrowing its gap with the current top-weighted China to fewer than 400 basis points.
Petrochemical shift that could quench LPG thirst (14-08-2024)
India may have to lean more on West Asian nations for supplies of liquefied petroleum gas (LPG), a cooking fuel, in the coming years after Indian state-run refiners drew up big plans to diversify into producing more profitable petrochemicals. This shift leads to reduced LPG output, Indian refining executives said. The mantra for state-run oil companies, from Indian Oil Corporation (IndianOil) to liquefied natural gas (LNG) importer Petronet LNG, which are looking to diversify their businesses from lower-margin fuels, has been value-added petrochemicals.
Nirmalaji Wants To Bring Taxes To Nil (14-08-2024)
‘… there are challenges to overcome and the country needs money for that.’
RBI Warns Use Of CBDC As Crisis Safe Haven (14-08-2024)
‘The impact of CBDC on deposits and deposit insurance is largely unknown.’
Maruti to launch Made in India SUV Fronx in Japan (13-08-2024)
Maruti Suzuki India on Tuesday said it has commenced export of its sports utility vehicle Fronx to Japan. The first consignment of over 1,600 vehicles left for Japan from Gujarat’s Pipavav port, the country’s largest carmaker said in a statement. Fronx will be the first SUV from Maruti Suzuki stable to be launched in Japan, it added.