The output of India’s eight core sector industries increased by 12.1 per cent (provisional) on a yearly basis in August 2023. The production of all eight core industries — cement, coal, crude oil, electricity, fertilizers, natural gas, refinery products and steel — recorded positive growth in August over the corresponding month of last year, according […]
The Central Board of Indirect Taxes and Customs (CBIC) Chairman, Sanjay Agarwal, has announced that India is prepared to implement a 28 per cent Goods and Services Tax (GST) rate on online gaming starting from 1 October. This move comes with the consensus of all Indian states and follows the recent passage of amendments to […]
The global coffee industry has seen remarkable expansion in recent years, with growing demand for coffee surging by 28.6 million kilogram bags, far exceeding production, Vanusia Nogueira, Executive Director, International Coffee Organisation told BW Retail World. In the past three years, coffee production and consumption have surged, leading to a deficit in the market, she […]
The United Arab Emirates (UAE) has imposed a ban on fresh meat imports from Pakistan via sea route after fungus was found on meat, according to ARY News. A restriction was imposed when fungus was discovered on meat sent from Karachi to the UAE by a firm. The restriction will be in effect until October […]
India’s merchandise trade deficit in August was wider than expected and stood at USD 24.16 billion, according to a Reuters calculation based on export and import data released by the government on Friday. Economists expected the August trade deficit to be at USD 21 billion, according to a Reuters poll. India’s merchandise exports stood at […]
Leading commercial vehicle manufacturer Ashok Leyland will set up an electric bus manufacturing unit in Uttar Pradesh. A memorandum of understanding (MoU) was signed in this regard between Ashok Leyland and the Uttar Pradesh government at a programme organised in the presence of Chief Minister Yogi Adityanath on Friday. Under the MoU, Ashok Leyland will […]
Apple saw its shares tumble by nearly 4 per cent on Thursday, marking its most substantial one-day drop in over a month. The catalyst for this sharp decline was the emergence of reports indicating that China had extended restrictions on the use of iPhones by government personnel. The move sent shockwaves through the tech industry […]
The gross Goods and Services Tax revenue collected in the month of August was Rs 159,069 crore, official data from the Ministry of Finance showed on Friday. The monthly revenue is 11 per cent higher than the collection the same month the previous year. Of the total collection, CGST was Rs 28,328 crore, SGST was […]
Urban Indian consumer sentiment has rebounded by 3.1 percentage points in August 2023, as reported by the Refinitiv-Ipsos India Primary Consumer Sentiment (‘Consumer Confidence’) Index (PCSI). The monthly PCSI result, which is driven by the aggregation of the four weighted sub-indices, has surged for all 4 sub-indices: The PCSI Economic Expectations (“Expectations”) Sub-Index has moved […]
S&P Global Market Intelligence has revised the global accurate GDP growth forecast for 2023 to 2.5 per cent, primarily owing to upward revisions in the US forecast. Earlier, it had predicted global growth at 2.4 per cent. However, the 2024 global growth forecast remains unchanged at 2.4 per cent. Turning the focus to India, it […]
