Economy News

India's forex reserves slide from historic high

Foreign exchange reserves dropped $387.5 million in the week ended March 25, after hitting an all-time high of $355.94 billion in the preceding week.

Apr 1, 2016

India's February core industrial growth highest in 13 months

The growth was led by fertilizer, cement, electricity and refinery sectors.

Mar 31, 2016

India's external debt rises to $480B

A $4.9 billion rise in external debt over March 2015 was largely on account of an increase in external commercial borrowings and non-resident Indian deposits.

Mar 31, 2016

JNPT to raise Rs 2,600 crore for port infra projects

The port would avail the dollar-denominated loan from DBS bank and State Bank of India, the Mint reported.

Mar 31, 2016

US firm expects to sign deal to build 6 nuclear reactors in India

This could be the first commercial nuclear power project since India signed a nuclear deal with the U.S. in 2008.

Mar 31, 2016

Indian rupee depreciates 50% in 5 years

The currency was trading at about 66.22 March 31, 2016 afternoon, marking a fall of 48.67 percent over its March 2011 closing of 44.54 to the US dollar.

Mar 31, 2016

World Bank's Swachh Bharat loan to empower the poor, provide health benefits

The project aims to ensure that all citizens have access to improved sanitation by 2019.

Mar 31, 2016

US judge nixes lawsuit against World Bank over power plant in India

The IFC loaned $450 million to help build the coal-fuelled Mundra power plant in Gujarat, which became fully operational in 2013.

Mar 31, 2016

Reliance Defence forms JV with Rafael to make air defence systems

Reliance Defence will own 51% stake in the joint venture and the rest will be held by Rafael.

Mar 30, 2016

India's economic growth to slow down in FY2016, says ADB

The Manila-based Asian Development Bank has pegged India's growth at 7.4 percent for FY2016, down from 7.6 percent in the previous fiscal.

Mar 30, 2016

Finance Minister Arun Jaitley wants Australian superannuation funds to invest in India

The Australian superannuation industry is worth AUD $2 trillion, according to Sydney Morning Herald.

Mar 30, 2016

5 Indian states contributed 69% to exports in FY15: Assocham

Maharashtra was ranked the best performing state for shipping goods worth $72.84 billion during 2014-15.

Mar 30, 2016

Pharma stocks drag Sensex down; Lupin down 6% on USFDA's inspection of facility

Lupin plunged 13 percent to a new 52-week low Tuesday after it acknowledged audit observations by the US FDA for its Goa facility.

Mar 29, 2016

India allows 100% FDI in e-commerce under marketplace format

In the marketplace model, an e-commerce company provides a platform to facilitate trade between buyers and sellers.

Mar 29, 2016

Ban on cattle sale for slaughter worsens farmers' plight

The ban on the sale of cattle has added to rural distress in Maharashtra which is suffering from two consecutive droughts.

Mar 29, 2016