Chief Economic Advisor V Anantha Nageswaran on Friday said India’s economy is expected to grow between 6.3% and 6.8% in FY26, adding that high US tariffs are unlikely to cause any significant downside risks. He stressed that the tariff impact will be temporary and will not derail India’s growth momentum.Impact of high US tariffs to […]
Gunny bag charges: Centre hikes usage rate by 40% to Rs 10.22 per bag; to aid procurement
The Centre on Friday increased usage charges for gunny bags by 40% to Rs 10.22 per used bag, a step aimed at easing the financial burden of states and Union Territories while ensuring smoother procurement operations.Union food and consumer affairs minister Pralhad Joshi said in a statement that the “Government of India has increased usage […]
US stocks today: Wall Street slips from record highs as inflation steadies; traders eye September Fed rate cut
Stocks retreated on Wall Street on Friday, pulling back from their latest all-time highs, after fresh inflation data showed prices largely holding steady. The S&P 500 fell 0.5% a day after notching a record high and remains on track to end August with a nearly 2% gain, its fourth consecutive month of advances.The Dow Jones […]
Gold rate today: Gold prices soar Rs 2,100 to record high of Rs 1,03,670/10 gm; silver slips Rs 1,000 amid rupee crash
Gold rate today: Gold prices in the national capital surged Rs 2,100 to an unprecedented Rs 1,03,670 per 10 grams on Friday, extending gains for the fourth straight session. Dealers said persistent buying by stockists, a weaker rupee, and heightened global uncertainties lifted the yellow metal to a fresh peak.Gold of 99.9% purity, which had […]
Forex watch: Reserves fall $4.38 bn to $690.72 bn, FCA and gold drag holdings
India’s foreign exchange reserves fell by $4.386 billion to $690.72 billion in the week ended August 22, the Reserve Bank of India (RBI) said on Friday.The overall reserves had risen $1.488 billion to $695.106 billion in the preceding reporting week, PTI reported.According to RBI data, foreign currency assets (FCA)—the biggest component of reserves—declined $3.652 billion […]
Currency watch: Rupee plunges 61 paise to all-time low of 88.19 vs dollar; FIIs add to pressure
The rupee on Friday tumbled past the 88-per-dollar mark for the first time, finishing the day at an all-time closing low of 88.19 (provisional). The sharp fall of 61 paise came amid escalating trade frictions with the US, month-end dollar demand and sustained foreign fund withdrawals.Dealers said the currency was under continuous stress after Washington […]
AI rush: RIL, Meta set up Rs 855 cr JV, Google joins for AI-ready data centres
Reliance Industries Ltd (RIL) on Friday announced a joint venture with social media major Meta, with an initial investment of about Rs 855 crore ($100 million), to build and scale artificial intelligence technology solutions for business organisations.RIL also unveiled a partnership with Google for artificial intelligence, aimed at setting up AI-ready data centres in India. […]
US postal policy shift: De minimis ends after 86 years- all you need to know about the scrapped rule
The United States has moved to end its long-standing de minimis tariff exemption for small international packages, eliminating duty-free entry for imports valued at $800 or less. The change, effective Friday, August 29, follows an executive order issued last month and comes nearly two years earlier than the original Congressional timeline. It is expected to […]
‘In India, capital multiplies’: PM Modi in Tokyo; pitches ‘perfect partnership’ with Japan
PM Modi at India-Japan Economic Forum Prime Minister Narendra Modi on Friday said India and Japan are poised to jointly influence the Asian century’s trajectory towards stability, growth and prosperity. He made the remarks while addressing the India-Japan Economic Forum during his two-day visit to Tokyo.“In India, capital doesn’t just grow, it multiplies. You are […]
‘Draconian tariffs’: Chris Wood sees $55-60 billion hit for India; calls it Trump’s ‘personal pique’
Chris Wood further observed that India’s ongoing Russian oil purchases have become a major point. (AI image) The Donald Trump administration’s move to impose 50% tariffs on India is ‘draconian’, according to Jefferies’ emerging markets strategist Chris Wood, who believes that the step will lead to a direct hit of $55-60 billion.According to an ET […]