New Delhi, July 15 (IANS) India’s equity market benchmark Nifty is likely to touch 27,019 in one year up from earlier expectation of 26,449, due to improved macroeconomic conditions and valuations, a report said on Wednesday.The report from PL Capital said India’s structural growth story remains firmly intact, but the domestic economy continues to face near-term risks from geopolitical uncertainty, weather-related disruptions and inflationary pressures.Despite these challenges, improving domesti…
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New Delhi, July 9 (IANS) The government has rolled out more customs duty relief to lower the cost of importing a wide range of components and capital goods used to produce electronic goods such as smartphones and lithium-ion battery manufacturing, in order to promote domestic production of finished products.The Central Board of Indirect Taxes and Customs (CBIC) has issued three separate notifications to roll out the customs duty waiver and expand the list of goods eligible for concessional duty….
New Delhi, July 6 (IANS) Foreign institutional investors (FIIs) were net sellers ($3 billion) in June while domestic institutional investors (DIIs) were net buyers ($9 billion) in the Indian equity market, a report showed on Monday.Over the last 12 months, Indian primary markets recorded FII net inflows of $8.1 billion while secondary markets suffered FII net outflows of $49.3 billion, said the report by JM Financial Institutional.In June, BFSI, Capital Goods, Pharma, Auto and Oil and Gas were t…
New Delhi, June 28 (IANS) India’s industrial production clocked a 5.1 per cent growth in May this year compared to the same month of the previous year on the back of a strong growth in the manufacturing sector and a surge in the electricity & gas supply sector during the month, according to the new series data released by the Ministry of Statistics on Monday.The industrial growth rate accelerated in May from 4.9 per cent in April.The manufacturing sector, which accounts for more than three-f…
New Delhi, June 1 (IANS) Industry leaders on Monday lauded steady growth of Index of Industrial Production (IIP) for April despite severe global headwinds and rising input costs amid the West Asia crisis.The growth of capital goods at 16 per cent is significantly strong and indicating an enhanced investment and strong aggregate demand in the country, said Nirmal Kumar Minda, President, Assocham.“High growth of intermediate goods at 7.7 per cent, infrastructure/construction goods at 7.1 per cen…
New Delhi, June 1 (IANS) India’s industrial production clocked a 4.9 pc growth in April this year, compared to the same month of the previous year, propelled by a robust growth in the manufacturing sector, according to the new series data with base year 2022-23 released by the Ministry of Statistics on Monday.The manufacturing sector, which accounts for more than three-fourths of the index of industrial production (IIP), posted an impressive 6.2 per cent growth during April compared to the sam…
Washington, May 6 (IANS) The United States trade deficit widened in March as imports outpaced exports, even as the American goods gap with India narrowed compared to the same period last year, according to official data.The US Census Bureau and the Bureau of Economic Analysis said the overall goods and services deficit rose to $60.3 billion in March, up $2.5 billion from a revised $57.8 billion in February.US exports in March stood at $320.9 billion, an increase of $6.2 billion from February, wh…
New Delhi, March 30 (IANS) India’s industrial production clocked a 4.1 per cent growth in March this year compared to the same month of the previous year, propelled by the manufacturing and mining sectors, according to data released by the Ministry of Statistics on Tuesday.The manufacturing sector, which accounts for more than three-fourths of the index of industrial production (IIP), posted a 4.3 per cent growth during March compared to the same month of the previous year. The sector plays a ke…
New Delhi, April 5 (IANS) Apex business chamber CII on Sunday sought more fiscal and monetary policy concessions from the government and the RBI to tide over the global uncertainty triggered by the West Asia conflict, even as it lauded “the series of timely, well calibrated and coordinated measures” that have already been taken in this regard.CII director general Chandrajit Banerjee said, “the Government and the RBI have responded with speed, clarity and coordination. The early measures ha…
Washington, April 3 (IANS) The White House said that new trade agreements, including with India, have helped rebalance global trade and reduce US deficits under Donald Trump’s tariff strategy.Marking one year since what it calls “Liberation Day”, the White House said the US economy is now more resilient, competitive and secure.“One year ago today, President Trump threw away the illusions of ‘free trade’ to finally put Americans and America First,” White House spokesman Kush Desai s…