Despite a decline in retail inflation to a four-month low of 4.87 per cent in October, India’s food inflation continues to exceed New Delhi’s “comfort” level, as indicated by a government official on Wednesday. The country’s retail inflation is approaching the central bank’s target of 4 per cent, a prerequisite for initiating rate reductions, the […]
India’s overall exports, merchandise and services combined, in October are estimated to be USD 62.26 billion, exhibiting a positive growth of 9.43 per cent on a yearly basis, official data released on Wednesday showed. Major contributors to export growth in October 2023 include drugs and pharmaceuticals, engineering goods, electronic goods, cotton yarn/fabs/made-ups, handloom products, iron […]
Since China is the world’s largest trading nation, a slowdown in its economy is likely to affect its trading partners. Certain Asian nations like Taiwan, Malaysia, Korea and Thailand and African countries such as Congo, Zambia, Angola and Gabon are likely to be more vulnerable due to their significant exposure to China, CareEdge Ratings has […]
The Goods and Services Tax (GST) Council last week said that it has decided not to impose a tax on Extra Neutral Alcohol (ENA) at the national level, however, it’s now up to the states whether to tax ENA or not. ENA is an important ingredient used in making alcoholic drinks for human consumption. The […]
The Confederation of All India Traders (CAIT) on Friday has said that the current festival season in India is expected to generate Rs 3 lakh crore business. Last year, the sale of festive shopping was about Rs 2.50 lakh crore. BC Bhartia, National President and Praveen Khandelwal, Secretary General, CAIT in a joint statement said, […]
The gem and jewellery trade between India and the UAE has witnessed substantial growth, particularly after the implementation of the India-UAE Comprehensive Economic Partnership Agreement (CEPA), with approximately 30% of the total gems and jewellery imported by the emirate sourced from India, as reported by the Gem and Jewellery Export Promotion Council (GJEPC). The UAE […]
Non-metro cities’ Micro, Small, and Medium Enterprises (MSMEs) are surpassing their metro counterparts in Diwali sales this year, with an estimated ecommerce opportunity of a whopping USD 13 billion for Indian MSMEs during the festive season, according to a report by tech-enabled logistics platform and unicorn, Shiprocket. The report suggests that 10-15 per cent of […]
Abu Dhabi Investment Authority is set to invest Rs 4,966.80 crore into Reliance Retail Ventures, acquiring a 0.59 per cent stake in the company, as confirmed by Reliance Industries on Friday. In a regulatory filing, Reliance Industries stated, “This investment values RRVL at a pre-money equity value of Rs 8.381 lakh crore (USD 100.83 billion), […]
Retail inflation for industrial workers saw a decrease to 6.91 per cent in August from 7.54 per cent in July this year, primarily driven by lower prices of certain food items. According to a statement from the Labour Bureau, “Year-on-year inflation for August was at 6.91 per cent, compared to 7.54 per cent the previous […]
Union Minister Anurag Thakur on Friday said that the surge in illicit trade is a troubling consequence of globalisation which casts a shadow on the country’s progress toward achieving a 5 trillion-dollar economy. Addressing the 9th edition of FICCI CASCADE’s ‘MASCRADE 2023’, Anurag Thakur said, “Illicit trade, whether conducted through activities like smuggling, counterfeiting, or […]
