Indian banks pitch FX sell/buy swaps to drain surplus liquidity, sources say

Indian lenders suggested forex sell/buy swaps to reduce excess rupee liquidity. This proposal came after a meeting with the Reserve Bank of India. Banking system liquidity reached a record high foll

Leaving farmers 'Bhagwan Bharose': The cost of MSP to ethanol gaps

Parliamentary panel flags compliance glitches on new income tax act, seeks more data from CBDT

A parliamentary committee has identified compliance issues with the new Income Tax Act. They are seeking detailed data from the CBDT on its overall impact. The committee wants to understand changes

How RBI could tackle a liquidity deluge triggered by dollar deposits

The RBI’s special dollar deposit scheme attracted a massive $127.23 billion, pushing India’s banking system liquidity surplus to a record ₹9.70 trillion. The central bank may deploy longer-term

India's economy shatters a 35-year barrier to enter A-rated club

Indian Economy: Japan Credit Rating Agency (JCRA) has upgraded India’s sovereign credit rating from BBB+ to A-, restoring an A rating for India after more than 35 years. The upgrade follows rating i

View: From ‘Make in India’ to ‘Design in India’

India's automotive market thrives by owning technology, not just assembling imported parts. Past partnerships built manufacturing and vendor capabilities for Indian companies. New energy vehicles re

New GDP series captures structural changes in economy, reflects global best practices: N K Singh

N K Singh supports new GDP data reflecting India's economic structural changes. He also noted the sovereign rating upgrade after thirty-eight years. This upgrade reflects structural reforms and sustai

India-New Zealand FTA to come into force next month, grants 100% duty-free access to Indian exports

The India-New Zealand free trade agreement will officially commence next month. This pact grants India one hundred percent duty-free access for all its exports. New Zealand previously imposed tariffs

From diamonds to defence: India, Belgium target 2x trade in 5 years

India and Belgium will work to double bilateral trade over the next five years. Cooperation will expand beyond traditional commerce into defence and clean energy sectors. Both nations seek to enhance

India wants tariff edge before signing final US trade deal: Piyush Goyal

India awaits US tariff advantage for trade deal finalization. The agreement was announced on February 3, 2026, reducing US tariffs on Indian goods. New Delhi seeks a clear tariff edge over competing

India can unlock over USD 1.5 billion wheat export opportunity as global buyers diversify sourcing: ASSOCHAM

India can unlock a wheat export opportunity of more than USD 1.5 billion as the gradual reopening of exports coincides with strong domestic production, comfortable stocks and efforts by major global b

Bengaluru earns, Chandigarh spends, Chennai borrows the most, Delhi is India’s biggest market: Study shows where Indians earn, save, spend and borrow the most

Bengaluru tops the charts for household income and savings among India’s major cities, while Chennai records the highest debt-to-income ratio, driven largely by housing demand. Delhi-NCR, meanwhile,

India's growth story drawing global investor attention, but policy predictability key to unlocking more FDI: USIBC Prez Atul Keshap

Global investors are reassessing India's economic prospects due to its strong growth. US investors see confidence boosted by India's infrastructure and reforms. More regulatory opening is needed to

India's services growth picks up in August but stays near four-year low, PMI shows

India's services sector saw a slight acceleration in August, though new business growth remained subdued. Overall activity stayed near its weakest point in over four years, despite increased hiring.

‘I was shocked’: Neelkanth Mishra hits back at ‘egregiously wrong’ claims on India’s GDP growth

Economist Neelkanth Mishra defended India's GDP growth numbers against revision claims. He stated economic indicators point to a stronger economy with improving credit growth. Mishra highlighted perso

'Russia and India's 96% bilateral trade now through Rupee-Rouble payment infra'

Russia and India have established a functioning payments infrastructure using roubles and rupees. This system now accounts for ninety-six percent of their bilateral trade transactions. Bilateral trade

Critical minerals race: India looks to UK, EU for supply chains

India is discussing partnerships with the UK and EU for critical mineral processing. The nation collaborates with the US on resilient supply chains for critical minerals. Trade deals with the Gulf C

Spotlight on startups: India and EU seek deeper tech ties

India and the European Union explored deeper cooperation in critical minerals and processing. Discussions also covered fintech and artificial intelligence advancements between the two blocs. The finan

GDP data revision: Govt says it's revised base, not baseless

India's statistics ministry defended its latest GDP growth figures. The ministry cited improved data sources and methodologies for the estimates. It explained the GDP deflator differs from retail an

After 35 years, Japan's JCRA upgrades India sovereign rating to A- from BBB+

Japan Credit Rating Agency has upgraded India's sovereign rating to A- after more than three decades. This upgrade recognizes India's solid economic growth and effective economic policies. The country

ET Graphics: The $4.4 trillion illicit money machine, in numbers

Global illegal money flows reached $4.4 trillion in 2025, impacting world GDP significantly. Bank frauds are increasing, with many types growing at twenty percent annually. Organized crime and drug ne

India and Canada reaffirm strategic ties, target bilateral trade of CAD 70 billion by 2030

India and Canada held Foreign Office Consultations reaffirming their commitment to a trade agreement. Both nations aim to expand bilateral trade to seventy billion Canadian dollars by 2030. Discussi

Roubles and ​rupees: Russia says no more hurdles in payments with India

Russia and India have built a functioning payments infrastructure using roubles and rupees. This system now accounts for ninety-six percent of their bilateral trade transactions. Bilateral trade reach

Goyal calls for resilient supply chains, while Gor stresses fair and reciprocal India-US trade

In a strategic move, India is ramping up its partnerships on critical minerals with countries including the UK and the EU. Trade agreements are under negotiation to secure vital mineral resources. The

Record FCNR (B) inflows as banks mobilise $127 bln

Banks mobilized over $127 billion from FCNR(B) deposits by August 31. Total dollar inflows reached $136.37 billion through special schemes. The FCNR(B) scheme alone accounted for over 93% of these i

India in talks with multiple countries to develop critical minerals for domestic needs: Piyush Goyal

India is actively seeking partnerships with nations like the US for critical mineral development. The country is also engaged in dialogues to build more resilient global supply chains. India's econo

Govt mulls BIS exemption for high-tech companies setting up plants in India

The government has announced new exemptions for high-tech companies, allowing them to bypass BIS certification to streamline the setup of manufacturing units in India. Concerns were raised by Japanese

Indian banks raise over $136 bn via RBI forex swap, FCNR(B) deposits dominate inflows

India's banking system attracted over $136 billion through a special Reserve Bank of India swap facility. Foreign currency non-resident deposits accounted for the largest portion of these substantial

Why was ₹6 lakh crore shaved off last year’s GDP? Govt explains the numbers

The government clarified GDP revisions are due to series changes and improved data. Last year's GDP estimate was adjusted after a new base year was introduced. Manufacturing's negative inflation ref

View: Leveraging monetary policy for India’s youth

Q1 GDP: The release of the latest data coincided with the significant assertion at the SCO meet, of India’s vision of ‘transforming shared geography into shared opportunities through the three pil

Japanese Credit Rating Agency upgrades India’s sovereign rating to A- from BBB+

Japanese Credit Rating Agency has upgraded India's sovereign rating to A- from BBB+. This upgrade reflects solid economic growth and effective policy implementation by the government. Robust private c

India's soyoil imports hit record high in August and palm six-month peak, dealers say

Indian refiners sharply increased edible oil imports in August to build stocks ahead of the festive season. Palm oil imports rose 7% to 780,000 tonnes, while soyoil imports jumped 21% to a record 601,

India, Afghanistan agree follow-up measures to boost trade, customs, connectivity

India and Afghanistan have agreed on follow-up measures to strengthen bilateral trade and economic cooperation, including enhanced customs and data-sharing cooperation, improved trade connectivity and

Japan’s JCRA upgrades India’s sovereign rating to A-, cites strong growth, financial stability

Japan Credit Rating Agency (JCR) has upgraded India’s sovereign rating by one notch to A- from BBB+, with a Stable outlook, citing sustained economic growth, stronger financial-sector soundness and

Fiscal deficit target for FY27 achievable, but slower nominal GDP growth may pressure fiscal space: Report

India's fiscal position remains comfortable in early FY27 months. Slower nominal GDP growth could pressure the fiscal deficit target. Government spending increased significantly, and capital expenditu

Nirmala Sitharaman, World Bank chief Ajay Banga hold meeting, discuss deepening cooperation

The things the FM and the World Bank chief discussed included a significant role of MIGA in boosting corporate and infrastructure finance. They also explored the utilisation of technology for advancin

Uday Kotak warns of 'roller coaster' ride in interest rate markets

Japan’s 10-year bond yield crossing 3% and rising US yields are raising concerns over tighter global liquidity, higher inflation and interest rates. Veteran banker Uday Kotak warned that central ban

GST, auto sales, UPI data point to resilient growth in August

In August, India's GST collections rose by 14.8%, totaling ₹2 lakh crore. The surge in bulk car sales by 36% indicates robust consumer enthusiasm, while the UPI system hit a record with 24.51 billio

Healthy consumption: GST collections surge to Rs 2 lakh crore, car sales jump 36%

India's economic indicators showed resilience and growth in August. Goods and services tax collections rose 14.8 percent to ₹2 lakh crore. Bulk car sales surged 36 percent, and UPI transactions reac

No more hush-hush: Tax portal opens door to misconduct complaints

The Income Tax portal now allows taxpayers to report misconduct. A new tab enables complaints against officers for sexual harassment or bribery. This digital channel offers a secure and confidential r

Sugar stock limit halved from Sept 15

The government has reduced the sugar dealer stock limit to two thousand quintals. This measure aims to ensure adequate availability and stable prices during the festive season. Hoarding and speculativ

India seeks applications for remaining raw sugar import quota

India has opened up applications for its remaining raw sugar import quota, allowing eligible millers and refiners to apply for this lucrative duty-free allocation. This follows the initial notice for

Onion prices rebound after last week's dip

Onion prices at Maharashtra's Lasalgaon market have rebounded after a recent fall. The average wholesale price reached ₹40 per kg, with retail prices remaining high. Farmers hope to recover losses

NHAI gets 17 bids for ₹8,300 crore Odisha coastal highway project

In a significant development, the National Highways Authority of India has received an overwhelming response for its new coastal highway project, which will stretch 160 kilometers from Rameshwar to Pa

India manufacturing PMI falls to 5-year low in August as demand weakens

Indian manufacturing faced its lowest growth rate in five years during August, characterized by a slowdown in output and new orders amid diminished demand. This period also marked the first job contra

India, US commit to deepen relationship in critical minerals, other areas

In a significant move, India and the US have vowed to bolster their bilateral relationship, particularly in critical minerals supply chains. U.S. Treasury Secretary Scott Bessent praised India's invol

US tariffs, supply chain disruptions have opened new markets: Gujarat CM

Gujarat Chief Minister Bhupendra Patel views new trade agreements as beneficial for his state. He sees global supply chain disruptions as opportunities for new market exploration. Patel expressed conf

Modi, Putin and Xi huddle at Bishkek, discuss trade

Leaders of Russia, India, and China met warmly in Bishkek. Prime Minister Modi and President Xi Jinping will hold a substantive meeting soon. They aim to rebuild economic partnerships and stabilize th

Govt sets paddy procurement target at 708.64 lakh tons in KMS 2026-27, lower than actuals of last 3 yrs

The Centre has set a paddy procurement target of 708.64 lakh tonne for the upcoming Kharif season. This target is lower than actual procurement levels seen in recent years. Improved rice specification

India's construction equipment sector needs to cut its ₹45,000 cr import bill: Kumaraswamy

India's construction equipment sector aims to reduce import reliance. A new government scheme will boost domestic manufacturing of critical components. This initiative seeks to strengthen local supp