Economy

India Set to Become World’s Third Largest Economy, Says RBI Governor Sanjay Malhotra; Credits Jan Dhan Yojana for Financial Inclusion Revolution

Business News Desk6 months ago6 months ago04 mins mins

India is on the cusp of becoming the world’s third-largest economy, according to Reserve Bank of India (RBI) Governor Sanjay Malhotra. Speaking at the ‘Santripti Shivir’ financial inclusion campaign in Rangwasa village, Indore, Malhotra hailed the Pradhan Mantri Jan Dhan Yojana (PMJDY) as a transformative force that has laid the foundation for inclusive growth and…

India’s Engineering Exports Surge 13.81% in July Despite US Tariff Headwinds; US, UK, Germany Lead as Top Buyers

Business News Desk6 months ago6 months ago04 mins mins

India’s engineering export sector defied global trade turbulence in July 2025, posting a robust 13.81% year-on-year growth and crossing the $10 billion mark for the first time in the current fiscal. According to the Engineering Export Promotion Council (EEPC), engineering goods exports reached $10.43 billion in July, up from $9.16 billion in July 2024, driven…

Trump Tariffs Unlikely to Trigger Major Job Losses, But Export Sector Faces Spillover Risks: CEA Nageswaran

Business News Desk6 months ago6 months ago04 mins mins

Chief Economic Adviser (CEA) V Anantha Nageswaran has downplayed fears of widespread job losses stemming from the recent 50% tariff hike imposed by the United States on Indian exports, stating that the impact will be “largely confined to export-oriented units” and is unlikely to be significant. However, he cautioned that the upcoming quarters could see…

Piyush Goyal Urges India Inc to Break Free from Domestic Comfort Zone and Embrace Global Expansion

Business News Desk6 months ago6 months ago04 mins mins

Union Commerce and Industry Minister Piyush Goyal has issued a candid call to Indian businesses, urging them to step out of their “cosy comfort zone” created by the vast 1.4 billion-person domestic market and actively pursue global opportunities. Speaking at the India-UAE Business Interaction event organized by the Confederation of Indian Industry (CII) in Mumbai…

India Targets Philippines to Boost Rice Exports Amid Global Trade Shifts

Business News Desk6 months ago6 months ago04 mins mins

India is intensifying efforts to expand its rice exports to the Philippines, the world’s largest importer of the grain, in a strategic push to tap into a high-demand market and offset recent global trade disruptions. With a delegation of top Indian exporters set to visit the Southeast Asian nation in early September, the move signals…

Industry output grows fastest this fiscal at 3.5% in July, robust manufacturing aids

Business News Desk6 months ago6 months ago3415 mins mins

India’s industrial sector recorded its fastest pace of growth this fiscal year, expanding by 3.5% in July, driven primarily by a robust performance in the manufacturing segment. According to official data, manufacturing activity, supported by strong domestic demand, improving supply chains, and government-led infrastructure push, has become the backbone of industrial recovery. This growth momentum…

India says ‘hopeful to get back on the table soon’ as Donald Trump’s 50% tariffs kick in

Business News Desk6 months ago6 months ago05 mins mins

In a move that has sent shockwaves across global trade corridors, former US President Donald Trump’s administration has rolled out 50% tariffs on imports, impacting India’s export-driven industries. The tariffs, part of Trump’s aggressive trade stance aimed at “reshoring American manufacturing,” are already beginning to reshape global supply chains. India, one of the key trade…

Indian Leather Exporters Pivot to Russian and African Markets Amid 50% US Tariff Shock

Business News Desk6 months ago6 months ago04 mins mins

India’s leather industry, valued at over $4.1 billion annually, is undergoing a strategic shift as exporters grapple with a steep 50% tariff imposed by the United States on leather and footwear imports. With nearly 20% of India’s leather exports previously destined for the US, the sudden escalation in duties has triggered urgent efforts to diversify…

Nomura Cuts India’s GDP Forecast to 6% as US Tariffs Threaten Textiles, Gems, and MSMEs

Business News Desk6 months ago6 months ago04 mins mins

Global financial services firm Nomura has revised India’s GDP growth forecast for FY26 down to 6%, citing the adverse impact of the United States’ 50% tariff on Indian exports. The downgrade comes amid rising concerns over the vulnerability of key sectors such as textiles, gems and jewellery, and micro, small and medium enterprises (MSMEs), which…

Commerce Ministry Engages Exporters on Diversification Strategy as 50% US Tariffs Take Effect

Business News Desk6 months ago6 months ago04 mins mins

With the United States imposing a steep 50% tariff on Indian exports starting August 27, 2025, the Commerce Ministry has initiated a series of high-level consultations with industry stakeholders to explore shipment diversification and mitigate the impact on key sectors. The move comes amid mounting pressure on India’s export-driven industries, particularly textiles, gems and jewellery,…

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US–Iran War: ‘There Is No Need for Panic Selling,’ Devina Mehra Advises Stock Market Investors

Will Wait for Impact of Latest F&O Rules Before Announcing New Ones: SEBI Chairman

India Set to Become World’s Third Largest Economy, Says RBI Governor Sanjay Malhotra; Credits Jan Dhan Yojana for Financial Inclusion Revolution

India’s Engineering Exports Surge 13.81% in July Despite US Tariff Headwinds; US, UK, Germany Lead as Top Buyers

Trump Tariffs Unlikely to Trigger Major Job Losses, But Export Sector Faces Spillover Risks: CEA Nageswaran

Piyush Goyal Urges India Inc to Break Free from Domestic Comfort Zone and Embrace Global Expansion

India Targets Philippines to Boost Rice Exports Amid Global Trade Shifts

Industry output grows fastest this fiscal at 3.5% in July, robust manufacturing aids

India says ‘hopeful to get back on the table soon’ as Donald Trump’s 50% tariffs kick in

Indian Leather Exporters Pivot to Russian and African Markets Amid 50% US Tariff Shock

Nomura Cuts India’s GDP Forecast to 6% as US Tariffs Threaten Textiles, Gems, and MSMEs

Commerce Ministry Engages Exporters on Diversification Strategy as 50% US Tariffs Take Effect