Page 14 - India Economy
India emerging as most preferred destination for mobile manufacturing: PM
Prime Minister Narendra Modi said that India is emerging as the most preferred destination for mobile manufacturing
 "India emerging as most preferred destination for mobile manufacturing: PM")
India hopes for resuming Iran oil imports as Biden presidency nears
India halted its imports from Iran, previously its third-largest oil supplier, in mid-2019 after the expiration of US exemptions.
 "India hopes for resuming Iran oil imports as Biden presidency nears")
Rupee rises 16 paise to 73.77 against US dollar as RBI keeps rate unchanged
The rupee appreciated by 16 paise to 73.77 against the US dollar in the opening session as the Reserve Bank of India maintained status quo on benchmark interest rate for the third time in a row
 "Rupee rises 16 paise to 73.77 against US dollar as RBI keeps rate unchanged")
Q2 GDP impact: Experts scale up full-year projections for FY21
While the economy will still see a fall in FY21, it is likely to be less pronounced than what experts had forecast earlier
 "Q2 GDP impact: Experts scale up full-year projections for FY21")
India's fiscal deficit stands at 120% of annual target at October-end
The deficit widened mainly on account of poor revenue realisation.
 "India's fiscal deficit stands at 120% of annual target at October-end")
Indian economy shrinks for second quarter in a row, shows signs of pick-up
The economy contracted 7.5% in the July-September quarter
 "Indian economy shrinks for second quarter in a row, shows signs of pick-up")
Expert views on India's economy shrinking 7.5% in July-Sept quarter
The read-out for the September quarter was better than the 8.8% contraction forecast of analysts in a Reuters poll.
 "Expert views on India's economy shrinking 7.5% in July-Sept quarter")
India's economy may continue to face Covid-19 aftershocks till 2025: Report
HSBC Holdings Plc said India's potential growth could drop to 5% in the post-pandemic world from 6% on the eve of the outbreak and more than 7% before the global financial crisis
 "India's economy may continue to face Covid-19 aftershocks till 2025: Report")
Borrowing costs ease for NBFCs after RBI pumps more cash in credit market
India's central-bank move to pump more cash in the credit market has improved the health of shadow lenders, helping to assuage concerns about their revival prospects
 "Borrowing costs ease for NBFCs after RBI pumps more cash in credit market")
India pulled out of RCEP as concerns not addressed: EAM S Jaishankar
India pulled out of the Regional Comprehensive Economic Partnership (RCEP) last year as joining it would have resulted in fairly negative consequences for the country's economy, Jaishankar said
 "India pulled out of RCEP as concerns not addressed: EAM S Jaishankar")
Diwali cheer for auto, durable makers as need for convenience drives sales
While retailers, manufacturers said that sales growth has been in double-digits for home and kitchen appliances during the Diwali period this year, car dealers say some models have stocked out
 "Diwali cheer for auto, durable makers as need for convenience drives sales")
As world signs mega FTAs, India simply can't afford to turn protectionist
If India misses out on attracting some of the new global trading infrastructure, it could be locked out of several years of growth
 "As world signs mega FTAs, India simply can't afford to turn protectionist")
Gig workers need to register, update info for social security: Draft rules
Gig firms will have to submit contribution towards a fund through self-assessment by June 30 each year
 "Gig workers need to register, update info for social security: Draft rules")
Gold imports decline 47.42% to $9.28 bn during Apr-Oct as demand falls
India's gold imports, which have a bearing on the current account deficit, plunged 81.22% to $2.47 billion during April-July period of 2020-21 due to a notable fall in demand in the wake of Covid-19
 "Gold imports decline 47.42% to $9.28 bn during Apr-Oct as demand falls")
India's economy is reviving and festive season's online sales show it
In the run-up to the festival, retailers including Amazon.com Inc. and Walmart Inc.'s Flipkart saw a 55% jump in online sales from a year ago to $4.1 billion, according to RedSeer
 "India's economy is reviving and festive season's online sales show it")
After worst decline in a decade, Indian companies see profits rebound
Aggregate net income of 46 NSE Nifty 50 members grew 4.8% from a year earlier in the quarter through September, according to data compiled by Bloomberg
 "After worst decline in a decade, Indian companies see profits rebound")
Passenger vehicle retail sales dip 9% in October on supply woes: FADA
Automobile dealers' body FADA said passenger vehicle retail sales in October witnessed a year-on-year decline of 8.8% to 249,860 units, as registrations slowed down owing to supply issues
 "Passenger vehicle retail sales dip 9% in October on supply woes: FADA")
Bidenomics: Sanity in post-Covid world, but expect no instant big changes
India, with its market potential, and as a complement to the US economy stands to gain if it plays its cards right
 "Bidenomics: Sanity in post-Covid world, but expect no instant big changes")
Asian equities except India see outflows in October on US election jitters
Foreign investors turned net buyers of Indian equities as slowing Covid-19 cases boosted hopes of a faster economic recovery, while other Asian equities faced outflows ahead of the US election
 "Asian equities except India see outflows in October on US election jitters")
India's October unemployment rate climbs up to 6.98%, CMIE data shows
India's unemployment rate in October rose to 6.98% from 6.67% in September, according to data released by the Centre for Monitoring Indian Economy
 "India's October unemployment rate climbs up to 6.98%, CMIE data shows")
