India’s rice export prices surged this week due to increased duties on rice shipments, while demand in Thailand remained subdued. The 5 per cent broken parboiled variety from India was quoted at USD 550-558 per ton, rising from the previous week’s range of USD 543-550. Earlier in the month, prices had reached a peak of […]
In India, sectors like petroleum, chemicals, fertilisers, and grains experienced notable disruptions, influencing both domestic manufacturing and global commerce The Red Sea crisis, now stretching over 100 days, continues to wreak havoc on global trade as commercial ships navigate treacherous waters to evade potential threats posed by Houthi rebels of Yemen. With vessels steering clear […]
In February, credit card spending in India surged by 26 per cent year-on-year (YoY) reaching Rs 1.5 lakh crore as per data from the Reserve Bank of India (RBI). This growth occurred despite some restrictions on business payments and increased risk associated with retail lending. With the rise in credit card transactions, brokerage firms are […]
India’s gold imports are anticipated to nosedive by more than 90 per cent in March, reaching their lowest point since the COVID-19 pandemic outbreak, according to a government official and two bank dealers cited by Reuters. The drop comes as banks curtailed imports following a surge in prices, which dampened demand for the precious metal, […]
After S&P Global, Morgan Stanley has revised its GDP growth forecast upwards for the financial year 2024-25 (FY25) to 6.8 per cent, up from its previous estimate of 6.5 per cent. The firm also revised its growth forecast for the ongoing financial year, FY24, to 7.9 per cent. The revised projections come in the wake […]
Indian rice exporters have been issued notices by the customs department demanding payment of duty differentials on rice shipments made over the past 18 months, the news agency Reuters reported citing sources. This unusual tax demand has the potential to severely impact rice exports from India, it said. India, the world’s largest rice exporter, implemented […]
In a significant move to fortify its international fashion presence, Myntra, India’s leading fashion ecommerce platform, has intensified its collaboration with NEXT, the UK’s largest fashion retailer. Under this partnership, Myntra Jabong, Myntra’s B2B wholesale entity, has secured the distribution and management rights for NEXT’s extensive range of products in India, marking a crucial step […]
Credit growth in India is expected to moderate down to 12-14 per cent on a yearly basis over the financial year 2024-25-2026-27 from the current 16.5 per cent, according to Emkay Institutional Equities. The loan-to-deposit ratio (LDR) is expected to fall to a reasonable level of 75 per cent from the current high of 80 […]
Earlier this month, the Body Shop has announced closure of US-based operations, but in India, the brand is ready with big offline expansion plans In the wake of UK-based cosmetics company The Body Shop’s bankruptcy filing and subsequent closure of its US and Canada-based operations, The Body Shop India is embarking on an ambitious growth […]
Payments through digital means in India are hitting fresh highs, as its citizens are increasingly adopting the emerging modes of transacting on the internet. In February, transactions worth Rs 18.2 lakh crore were made through Unified Payments Interface (UPI) with a staggering 122 crore number of transactions. The transactions made last month through the popular […]
