Economy News

India records robust services sector growth in June, hiring at 2-year high

Survey of services sector shows robust growth in June, exports-wise

India's services sector has witnessed a robust growth in June, according to a survey conducted by HSBC. The growth was primarily driven by strong domestic demand and a record increase in export orders.

Jul 3, 2024

Indian real estate registers $2.5 bn in investments in Q2

Indian Real Estate Attracts $2.5 Billion in Q2 Investments: Report

After a steady start in the first quarter (Q1) of 2024, Indian real estate saw accelerated momentum in the second quarter (Q2), registering $2.5 billion of inflows -- the highest in any quarter since 2021, a new report showed on Wednesday.

Jul 3, 2024

SEBI issues show-cause notice to Hindenburg, Nathan Anderson over Adani report

The Securities and Exchange Board of India (SEBI) has issued a show-cause notice to Hindenburg Research, Nathan Anderson and the entities of Mauritius-based foreign portfolio investor (FPI) Mark Kingdon for trading violations in the scrip of Adani Enterprises Ltd, leading up to Hindenburg report and thereafter.

Jul 2, 2024

CBDT meets officials to dispel doubts on faceless tax assessment.

GST collection jumps 7.7 pc in June to Rs 1.74 lakh crore

India's gross GST collection rose to Rs 1.74 lakh crore in June this year which represents a 7.7 per cent increase over the same month last year, according to sources.

Jul 2, 2024

India's manufacturing activity surges in June, hiring at 19-year high

India's manufacturing activity picked up momentum in June on the back of rising consumer demand leading to the fastest rate of hiring in 19 years, according to HSBC's final India Manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global.

Jul 1, 2024

Sensex jumps more than 1,000 points on impressive GDP numbers (Ld)

Sensex at 79,484, up 451 points, Nifty at 24,143, up 132 points on positive global cues

Sensex was up 451.39 points or 0.57 percent at 79,484.12, and the Nifty was up 132.60 points or 0.55 percent at 24,143.20.

Jul 1, 2024

Thales signs deal with Adani Defence to manufacture 70mm rockets in India

In a major fillip to the government's local manufacturing push, Adani Defence & Aerospace - the defence arm of the Adani Group — has signed an agreement with the Thales Group to manufacture 70mm rockets in India.

Jun 28, 2024

ERAM: Revolutionizing Exchange Rates for Importers, Exporters

The Central Board of Indirect Taxes and Customs (CBIC) has launched the Exchange Rate Automation Module (ERAM) to enhance trade facilitation. The ERAM will publish exchange rates of 22 currencies online in advance, replacing the existing manual process.

Jun 28, 2024

RBI Governor confident of India's progress, says on path to steady 8% GDP growth

RBI Governor Shaktikanta Das sees India moving ahead towards an 8 per cent GDP growth trajectory on a sustained basis, driven by structural economic reforms such as GST.

Jun 26, 2024

Pre-Budget Discussion: Nirmala Sitharaman holds meeting with state finance minister

Union Minister for Finance Nirmala Sitharaman chaired pre-Budget consultations with the Finance Ministers of states and Union Territories to take their views on board for the upcoming Union Budget 2024-25 here on Saturday.

Jun 22, 2024

Curtain raiser for 'Invest Karnataka 2025' held in Bengaluru

K'taka Targets $1 Trillion Economy: Curtains raise for 'Invest Karnataka 2025' in Bengaluru

Karnataka Chief Minister Siddaramaiah announced on Wednesday that the state government aims to achieve an annual industrial growth rate of 15-16 per cent to reach a $1 trillion economy by 2032.

Jun 20, 2024

Fitch Ratings upgrades India's FY25 GDP growth forecast from 7% to 7.2%

Fitch Ratings has revised India's FY25 GDP growth forecast to 7.2%, up from 7%. The upward revision is attributed to recovery in consumer spending and increasing investment trends.

Jun 19, 2024

Adani Ports says ESG climate-friendly practices strengthened across its supply chain

Adani Ports and Special Economic Zone Ltd (APSEZ) on Friday said it has been recognised by CDP (formerly the Carbon Disclosure Project) for its efforts in tackling climate change and implementing best Environmental, Social and Governance (ESG) practices across its supply chain.

Jun 15, 2024

Modi 3.0: Top industry chambers gear up for next phase of developmental journey

The entire ecosystem of industry, trade and financial markets is re-energised with the beginning of the new government amid policy continuity, top trade and industry chambers have said.

Jun 12, 2024

India to log 6.7% GDP growth in next 3 years, remain fastest-growing economy: World Bank

Driven by strong domestic demand, surge in investment and robust services activity, India will remain the fastest growing economy in the world, clocking a steady growth of 6.7 per cent for the next three fiscal years, the World Bank has said.