The consultancy, however, added that inflation is expected to remain above the Reserve Bank of India's target level of 4 per cent over the forecast period due to strong economic activity

To be sure, non-basmati white rice accounts for nearly 25-30 per cent of total rice exported from the country. India is also the world's largest exporter of rice

India's weather office has forecast more heat-wave days than normal between April and June this year, potentially boosting power use and generation further

Deloitte India on Friday said it estimates India's GDP growth at 6.6 per cent in the current fiscal helped by consumption expenditure, exports rebound and capital flows. In its India's economic outlook report, Deloitte said the rapid growth of the middle-income class has led to rising purchasing power and even created demand for premium luxury products and services. With the expectation that the number of middle-to-high-income segments will be one in two households by 2030/31, up from one in four currently, we believe this trend will likely become further amplified, driving overall private consumer expenditure growth, it said. Deloitte has revised India's economic growth prediction for last fiscal to a range of 7.6 to 7.8 per cent. In January, the firm had projected growth for 2023-24 fiscal in the range of 6.9-7.2 per cent. The country's GDP growth is estimated to reach around 6.6 per cent in FY 2024-25 and 6.75 per cent in the year after, as markets learn to factor in geopolitic

Six other countries such as China, Russia, Indonesia, Chile, Argentina, Venezuela continue to remain in the list

Vietnam's markets will be closed from Monday through Wednesday for national holidays

A 60% majority of economists, 98 of 162, said the global economy this year was more likely to grow faster than they expected than undercut their predictions

India remains "one of the world's most challenging" major economies with respect to the protection and enforcement of intellectual property (IP), the Biden Administration said on Thursday as it placed the country on the Priority Watch List on its 2024 Special 301 Report. India along with Argentina, Chile, China, Indonesia, Russia and Venezuela have been placed on the 2024 Special 301 Report on the adequacy and effectiveness of US trading partners' protection and enforcement of intellectual property (IP) rights released by the US Trade Representative. These countries will be the subject of particularly intense bilateral engagement during the coming year, USTR said. USTR removed the Dominican Republic from the Watch List this year. The Special 301 Report is an annual review of the global state of IP protection and enforcement. While there has been progress under the US-India Trade Policy Forum in addressing certain issues with trademark infringement investigations and pre-grant ...

The economy grew at a 3.4% rate in the fourth quarter. The first quarter growth's pace was below what U.S. central bank officials regard as the non-inflationary growth rate of 1.8%

Exports have been dented by a slowdown in global demand, the ongoing Russia-Ukraine war and the Red Sea shipping crisis brought on by conflict in the Middle East, exporters said

The income tax department on Thursday extended the deadline for charitable and religious trusts to furnish registration application with tax authorities till June 30. The Central Board of Direct Taxes (CBDT) had earlier extended the due date for filing Form 10A, Form 10AB by trusts, institutions and funds multiple times and the last such extension was till September 30, 2023. "Considering the representations received by CBDT requesting for further extension of due date for filing of such forms beyond the last extended date of September 30, 2023, and with a view to avoid genuine hardships to taxpayers, CBDT has extended the due date of filing Form 10A/Form 10AB up to June 30, 2024," the CBDT said in a statement. Form 10A is an application form filed by trusts/institutions who wish to get themselves registered for income tax exemption. Form 10 AB is filed by trusts/institutions to renew their permanent registration. CBDT further clarified that if any such existing trust, institution

'The state-level DPI index will help analyse gaps to strengthen the digital economy, support financial inclusion and increase public-private innovation'

The Finance Ministry said that retail inflation in financial year 2023-24 witnessed a significant decline, reaching its lowest level since the COVID-19 pandemic

India's services exports jumped 11.4 per cent to USD 345 billion in 2023 despite global economic uncertainties, while China's shipments from the sector contracted by 10.1 per cent to USD 381 billion, according to a UNCTAD report. Sectors that contribute to India's services export growth include travel, transport, medical and hospitality. With an 8.9 per cent annual rise in current dollar value terms, the world services exports surpassed USD 7.9 trillion in 2023, a quarterly bulletin of UNCTAD said. The leading exporters among developing economies include India, China, Singapore, Turkiye, Thailand, Mexico, and Saudi Arabia, it added. India's services imports, however, dipped marginally by 0.4 per cent to USD 248 billion last year. "The main driver of the YoY (year-on-year) rise of services exports in Q4 2023 was the ample growth of international travel receipts. In the post-COVID-19 recovery, travel receipts increased by 70 per cent in Asia (YoY)," the report said. Commenting on .

India's food inflation, which accounts for nearly half of the overall consumer price basket, rose 8.52 per cent in March, compared with a 8.66 per cent rise in February

The two codes are crucial for safeguarding public interest and fostering economic growth with innovation

Pakistan business leaders in an interactive session with Prime Minister Shehbaz Sharif urged him to initiate trade talks with India to promote business and commerce which would greatly benefit the economy of the cash-strapped country. Posing tough questions during an hour-long meeting at the Sindh CM House here in Pakistan's commercial capital on Wednesday, Karachi's business community appreciated the prime minister's determination to tackle economic issues but advised him to focus on bringing about political stability to turn around the economy. The Prime Minister sat down with the business community to find ways to uplift the economy through exports but his resolve was met with apprehensions from industry leaders who said it was almost impossible to do business under the current circumstances, particularly with high energy costs and inconsistent government policies, the Dawn newspaper reported. After the prime minister's brief speech, the house was opened for a question and answer

The problem of high food inflation will be "less severe" in India going ahead, as modern supply chains with diversified sources can help quickly address sudden spikes in prices of specific food items, RBI Monetary Policy Committee (MPC) member Ashima Goyal said on Thursday. Stressing that the share of food in the household budget is high in India, Goyal said policy needs to focus on increasing agricultural productivity, since stable agricultural prices are important for non-inflationary growth. "As India develops, this problem (high food inflation) will get less severe, for a number of reasons. Modern supply chains with diversified sources respond quickly to large spikes in specific items," she told PTI. Goyal further pointed out that one does not hear of tomato or onion prices spiking in advanced economies. "We naturally have diverse geographic regions, better integrated markets sourcing from different regions can help mitigate climate change induced food price spikes," she ...

A perusal of the judgment in DMRC vs DAMEPL would show that the SC has interpreted the terms of the contract and that too, in its curative jurisdiction

The report further claimed that the 95 per cent of women said that they are unaware of existing government financial schemes or initiatives to leverage for their business