Latest news and articles about Indian economy from NEX English
A senior official from the Reserve Bank of India has criticized foreign exchange market makers for their role in exacerbating the weakness of the Indian rupee amid tensions in the Middle East. This comes as the central bank continues its strong message to defend the currency.
Foreign investors persist in selling Indian stocks, marking a record of 23 consecutive sessions of selling. This trend is driven by rising oil prices and their impact on financial markets.
Surveys conducted by the Reserve Bank of India indicate that Indian households expect a significant increase in inflation over the next three months. This reflects growing concerns stemming from global crises, particularly conflicts in the Middle East.
Indian stock markets are preparing for the financial results announcement from <strong>Tata Consultancy</strong> on Thursday, which has investors eager for continued positive momentum. This comes as the markets experience their best performance since last November.
The Indian federal government has called on states to take effective measures to curb the illegal smuggling and monopolization of liquefied natural gas (LNG). This request comes amid a gas supply crisis exacerbated by tensions in the Middle East.
The Reserve Bank of India has announced stringent measures against speculation on the rupee, leading to widespread disruption in financial markets. This move aims to stabilize the Indian currency amid current economic challenges.
The Securities and Exchange Board of India has announced plans to permit companies to repurchase their shares through the open market. This initiative aims to bolster the struggling local market amid significant declines influenced by geopolitical tensions in the Middle East.
Major Indian IT companies are facing significant challenges in the fourth quarter, with revenues and profits expected to rise by only 10% year-on-year. This is primarily due to the weakening Indian rupee and concerns over war and discretionary spending.
India has announced the abolition of tariffs on key petrochemical products until the end of June, a move prompted by escalating developments in the Middle East. This decision aims to stabilize energy supplies as the region faces increasing tensions.
Indian Prime Minister <strong>Narendra Modi</strong> visited <strong>Assam</strong> to meet tea workers on their farms, expressing his support for the tea sector, which is vital to local culture and economy. This visit comes at a sensitive time for workers facing economic challenges.
The Indian city of Mumbai has announced plans to build a new cricket stadium with a capacity of up to <strong>100,000 spectators</strong>, reflecting its commitment to enhancing the sport in the country. The project is set to be completed by <strong>2025</strong>.
India is experiencing a severe shortage of natural gas used for cooking, prompting a significant shift in energy consumption. As demand for gas rises, many households are turning to solar energy as an alternative.
Maruti Suzuki, India's largest car manufacturer, announced its intention to increase car prices due to rising commodity costs linked to the ongoing war in the Middle East. This decision follows a significant rise in oil, gas, and metal prices, which has eroded the benefits of previous tax cuts.
Fuel companies in India have raised the prices of aviation fuel and commercial LPG due to a sharp rise in global prices stemming from the ongoing conflict in the Middle East. The Indian government is taking measures to protect households from gas shortages.
The Indian government has announced plans to borrow <strong>8.2 trillion rupees</strong>, equivalent to <strong>86.5 billion dollars</strong>, in the first half of the fiscal year starting April 1. This amount represents about <strong>50%</strong> of the total borrowing planned for the entire fiscal year.
India faces significant challenges in the luxury sector due to a shortage of high-end shopping malls. This deficiency hampers the country's aspirations to become a primary destination for global brands.
Foreign investments in India have seen a record withdrawal of <strong>$12 billion</strong> in March, driven by the ongoing war in Iran, which has raised energy costs and increased economic growth uncertainties. This withdrawal comes at a critical time for the Indian economy, which is under increasing pressure.
DBS Group Holdings has announced its entry into the vibrant Indian stock market through an initial public offering (IPO) valued at <strong>$1 billion</strong>. This move aims to capitalize on one of the world's busiest equity markets amid significant economic growth in India.
India's private sector growth recorded its slowest pace in over three years in March 2023, impacted by price shocks from the Middle East conflict, which negatively affected domestic demand.
The Indian banking system recorded a significant liquidity shortfall of about <strong>659 billion rupees</strong> (equivalent to <strong>7.01 billion dollars</strong>) due to large tax outflows and currency market interventions. Conditions are expected to improve by the end of the month.