US tariffs not to hit India’s growth: S&P NEW DELHI: Trump tariffs will not have any impact on India’s growth, as it is not a trade-oriented economy, and its sovereign ratings outlook will continue to remain positive, S&P Global Ratings director YeeFarn Phua said.In May last year, S&P had upgraded the outlook on India’s sovereign […]
US phone glass maker Corning expands tie-up with Optiemus
NEW DELHI: Top American specialty glass and technology company Corning is expanding its business in India as it ties up with local contract manufacturer Optiemus through a trademark and licensing agreement for screen protectors.The company is also close to starting production of finished cover glass for smartphones in India in a Rs 1,000-crore JV also […]
Ikea eyes India sourcing beyond textiles
IKEA has opened its first store in West Delhi at Pacific Mall (File photo) MUMBAI: Global trade wars have pushed companies to speed up the diversification of their supply chains and India will be key to Ikea’s sourcing strategy where it is expanding beyond textiles to build supply capabilities in plastic, metals, and furniture, said […]
AI solutions company Fractal files for nearly Rs 5,000 crore IPO
BENGALURU: Enterprise AI solutions company Fractal Analytics has filed draft papers with Sebi for an IPO of up to Rs 4,900 crore. The offer comprises a fresh issue of shares worth Rs 1,279 crore and an offer-for-sale of Rs 3,621 crore. Founded in 2000 by Srikanth Velamakanni and Pranay Agrawal, Fractal provides AI-driven decision-making support […]
Hard-hit export sectors need govt support: Icrier
NEW DELHI: While estimating that nearly 70% of India’s exports are exposed to Trump’s 50% tariffs, think tank Icrier has suggested govt support for hard-hit sectors, such as textiles and gems and jewellery, along with sharp duty cuts in non-sensitive farm goods and addressing US demands on genetically modified products.The recommendations on farm goods fly […]
Debt alarm: US national debt hits record $37 trillion, pace doubles with trillion added every five months
The US government’s gross national debt has crossed $37 trillion, setting a new record that underscores the growing strain on the country’s finances and adding to the cost pressures facing taxpayers, according to the latest Treasury Department report issued Tuesday.The milestone has arrived years earlier than pre-pandemic forecasts. In January 2020, the Congressional Budget Office […]
Indian economy outlook: Morgan Stanley sees India emerging as top consumer market; energy transition and manufacturing boost ahead
India is on track to become the world’s most sought-after consumer market while undergoing a major energy transition, witnessing a rise in the credit-to-GDP ratio, and seeing manufacturing take a bigger share of GDP, according to a Morgan Stanley report.The report noted that the falling intensity of oil in GDP, a rising share of exports—particularly […]
Currency watch: Rupee climbs 16 paise to 87.47 against US dollar, crude slide and Fed cut hopes lift sentiment
The rupee appreciated 16 paise to end at 87.47 against the US dollar on Wednesday, buoyed by a weak greenback and positive sentiment in domestic equity markets. Traders said easing crude oil prices and cooling inflation further supported the local currency, although uncertainties over trade tariffs and persistent foreign fund outflows capped sharper gains.At the […]
Festive sparkle lifts exports: Gem and jewellery shipments jump 15.98% to $2.18 bn in July, Hong Kong rebound aids growth
Strong order bookings at the India International Jewellery Show (IIJS) Premiere and a recovery in the Hong Kong market pushed India’s gem and jewellery exports up 15.98% year-on-year to $2,178.24 million (Rs 18,756.28 crore) in July, according to data from the Gem and Jewellery Export Promotion Council (GJEPC).Exports in July 2024 stood at $1,878.09 million […]
India’s exposure to Russian oil disruption limited to $5 billion; global economy faces major risk: Report
India’s exposure to a potential disruption in Russian oil exports would be limited, even as a full embargo could create serious challenges for the global economy, according to a report by Bank of Baroda. The report estimates that India’s additional oil import expenditure would be around $5 billion annually, a figure considered manageable given the […]