Business
Government plans new indices to track informal mfg, services
NEW DELHI: Soon after the overhaul of index of industrial production (IIP) for the formal sector, govt machinery is preparing to enter the statistical blind spot of the vast informal economy. The statistics ministry is finalising plans to launch an entirely new index designed to measure monthly industrial production, specifically for the country’s vast informal…
India, UK to narrow gaps to roll out trade deal
NEW DELHI: India and the UK on Tuesday agreed to resolve the gaps so that the bilateral trade agreement can be implemented at the earliest.Commerce and industry minister Piyush Goyal held talks with UK secretary of state for business and trade Peter Kyle on addressing the ticklish issues as India has concerns over the steel…
India slips to seventh in global market capitalisation ranking
MUMBAI: On Tuesday, India slipped to the seventh spot in terms of stock market valuation as South Korea marched to sixth. In the last two years, India has slipped three places in the rankings after Hong Kong, Taiwan and South Korea overtook it, historical data showed.Nearly unabated foreign fund selling since Sept 2024 (when the…
Kotak prods India Inc to start investing again
MUMBAI: Billionaire banker-entrepreneur Uday Kotak on Tuesday prodded India Inc to invest for India’s future. Kotak’s warning came as the country is being looked at as a laggard in AI technology investments. This is the primary reason that India’s stock market has turned from being one of the most favoured among emerging markets to one…
Godrej starts wealth management business
MUMBAI: Godrej Industries Group has launched its wealth management business, Godrej Wealth, through subsidiary Godrej Investments, with a target to build assets under management of Rs 1,00,000 crore by 2031 and expand to 35 locations over the next five years.The business will operate alongside Godrej Capital to form the group’s financial services arm, as it…
Wealth Co enters pact with NSE for EGR
MUMBAI: The Wealth Co, the assets management arm of domestic financial services group Pantomath, on Tuesday signed an agreement with NSE to offer Electronic Gold Receipts (EGR), a product that the bourse launched recently. EGRs are exchange-traded products backed by physical gold. Source link
US again throws India over the Russian oil barrel
TOI correspondent from Washington: US Secretary of State Marco Rubio has renewed pressure on New Delhi’s purchases of Russian oil, telling Congress on Tuesday that the Trump administration wants to end “as soon as possible” sanctions waivers and special arrangements that have allowed countries such as India to import Russian oilRubio’s remarks during a Senate…
RBI to inject liquidity via Rs 50,000 crore repo auction ahead of MPC meeting
The Reserve Bank of India (RBI) on Tuesday announced a Rs 50,000 crore two-day Variable Rate Repo (VRR) auction, a move aimed at managing short-term liquidity conditions ahead of the central bank’s monetary policy review.The auction will be conducted on June 3 between 9:30 am and 10 am, while the reversal of funds will take…
India, UK work to resolve trade pact hurdles as CETA rollout faces delays
India and the UK on Tuesday discussed the key issues delaying the implementation of the Comprehensive Economic and Trade Agreement (CETA), as both sides reviewed progress under the trade pact signed in July last year.The issues came up during a meeting between Commerce Secretary Rajesh Agarwal and UK Permanent Secretary Amanda Brooks.“Engaged in extensive discussions…
Why did Taiwan, South Korea overtake India? Drop from 5th to 7th largest stock market – explained in 10 charts
The fall to seventh rank is not just about the rallies in South Korea and Taiwan. It is also about the record exodus of foreign capital from Indian stock markets. (AI image) In a span of just over a week, the Indian stock market has gone from being the world’s fifth largest to the seventh…