Retail inflation in India which rose in June after falling in the preceding four months is projected to rise further in July due to rising food prices, said Crisil in a report on Wednesday. July retail inflation data is due next week. According to the rating agency’s report, food inflation in India, which accounts for […]
The Indian manufacturing sector maintained strong growth momentum at the start of the third quarter (July-September 2023) amid ongoing buoyant demand. According to S&P Global’s India Manufacturing Purchasing Managers’ Index, it marginally fell from 57.8 in June to 57.7 in July. The indices vary between 0 and 100, with a reading above 50 indicating an […]
The Goods and Services Tax (GST) revenue collected in the month of July 2023 was worth Rs 165,105 crore, official data showed Tuesday. The GST revenues generated in July 2023 were 11 per cent higher than it was registered in the same month last year. Of the total GST collection in July, CGST was Rs […]
India’s gold demand in April-June 2023 quarter dropped by 7 per cent to 158.1 tonnes, attributable to high gold prices which significantly impacted affordability and consumer sentiment, said World Gold Council in a report on Tuesday. In comparison, in the same quarter the previous year, the demand for yellow metal was 170.7 tonnes. Coming to […]
The state governments along with oil palm processing companies have initiated a mega plantation drive to further increase the area under oil palm cultivation in the country. Three major oil palm processing companies- Patanjali Food Pvt. Ltd., Godrej Agrovet, and 3F are actively promoting and participating with the farmers in their respective states for record […]
Union Minister of Commerce and Industry Piyush Goyal said that the Indian Footwear and Leather industry is not only a major foreign exchange earner but being a labour-intensive sector, it also provides employment to approximately 4.5 million people, 40 per cent of whom are women. While addressing as a Chief Guest at India International Footwear […]
US-based Silicon Power Group has plans to set up a 150mm carbide manufacturing facility in Odisha. The cost of the project is estimated at Rs 1,000 crore. The investment will be made by the group’s Indian subsidiary, RIR Power Electronics. According to a press statement from the chief minister’s office, “Harshad Mehta, promoter of the […]
The Bank of Baroda in a report has said that in the last five years, the debt of Indian Inc has grown at a compound annual growth rate (CAGR) of 7.4 per cent. From Rs 62 lakh crore in FY18, the total debt of India Inc. increased to Rs. 75.7 lakh crores in FY20. The […]
In line with the decline in international prices and the continuous policy interventions made by the central government, edible oil prices in India have declined considerably. In a written reply in response to a question in the Parliament on Wednesday, Minister of State for the Ministry of Consumer Affairs, Food and Public Distribution Sadhvi Niranjan […]
IMF’s Chief Economist and Director, Pierre-Olivier Gourinchas, has said restrictions imposed by India on exports of certain varieties of rice are likely to exacerbate volatility in food prices in the rest of the world. “And they (the ban on rice exports) can also lead to retaliatory measures. So, they are certainly something that we would […]
