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Economy

India’s rice exports likely jumped 22 per cent in 2017 to a record 12.3 million tonnes as neighbouring Bangladesh ramped up purchases after flooding hit its crops, industry officials told Reuters. The boost in shipments from the world’s top exporter of the grain is set to extend into 2018 as Bangladesh and Sri Lanka continue […]

Union Cabinet on Wednesday allowed foreign airlines to invest upto 49 per cent under approval route in Air India. However, this nod comes with two conditions – foreign investment including that of foreign Airlines should not exceed 49 per cent either directly or indirectly and substantial ownership and effective control of Air India would continue […]

State-run lenders such as State Bank of India (SBI), Punjab National Bank (PNB) and Bank of Baroda (BoB) may be included in the new exchange traded fund (ETF) the government is setting up. Senior finance ministry official said large banks could be in the basket of stocks, making the ETF offer more attractive. “We are […]

Intellectual Property Rights remains to be one of the top bilateral trade issues between India and the US even as India became the ninth single country trading partner for the US in 2016, an official US report said today. India remained on the priority watch list in 2016 due to a lack of measurable improvement […]

Department of Telecom (DoT) has created an investment facilitation centre for a sector which is under severe financial stress with debt of nearly Rs5 lakh crore and falling returns. According to a notice on the department’s website Tuesday, K.K. Sahara, Director (IP) and Manish Shukla, ADET (IP), will be in charge of the cell.This move […]

Government today said it has cleared the widening and upgradation of a national highway stretch from Imphal to Myanmar border that will eventually go up to Thailand and Malaysia under an Asian Highway project. The 65 km Imphal-Moreh stretch in Manipur on NH 39 is part of the project to connect India with Southeast Asian […]

After abolishing border checkposts, the government is working on unclogging toll gates to speed up freight transportation. Movement of freight by road has become faster with the removal of border checkposts as part of the goods and services tax (GST) rollout exercise. Goods-laden trucks now log an average 325 km every day compared with 200 […]

Prime Minister Narendra Modi on Thursday asserted that GST was by far the biggest business and economic reform of India and that the country was moving towards the modern tax regime, which was transparent, stable and predictable. “We have resolved a number of regulatory and policy issues facing businesses and companies. We have worked very […]

India’s economic growth outlook has improved as impact of demonetisation is fading and some key reforms are paying off, but concerns are growing on corporate debt and banking system vulnerabilities, the IMF said Wednesday. In its ‘Surveillance Note’ prepared for the G20 leaders ahead of their two-day summit on July 7-8 in Hamburg, Germany, the […]