New Delhi, July 23 (IANS) Pakistan has ordered around 2,06,000 bales of cotton from the United States and is stepping up purchases from Brazil as domestic output falls, a new report has said, highlighting a growing dependence on imports ahead of the local harvest.The report from Bangladesh-based Daily Sun said Pakistan’s cotton and textile industry has moved “from decline to dependence”.The import dependency increased after a sharp decline in production, with recent estimates placing output at…
Latest Current Account Deficit News & Updates
New Delhi, July 17 (IANS) India’s merchandise export growth remained strong in June at 15.5 per cent year‑on‑year ($40.4 billion) but eased on a monthly basis, a report said on Friday.The merchandise export growth was 18 per cent in May as petroleum exports nearly halved, widening the goods trade gap, the report from Crisil Ratings said.On the export front, agricultural shipments performed well in June, mainly on account of a supportive base.Rice exports grew 16.5 per cent on-year, while e…
New Delhi, July 17 (IANS) India’s balance of payments (BoP) is expected to move to a surplus in FY27 after two consecutive years of deficits as net foreign direct investment and other capital inflows strengthen, a report has said.The report from Care Edge Ratings said net FDI is expected to improve to $15 billion in FY27 from $6.9 billion in FY26, supported by stronger gross FDI inflows and some tapering of repatriation.Further, concessional swap windows for FCNR(B) deposits, External Commerci…
New Delhi, June 21 (IANS) Rupee is likely to appreciate further in the coming weeks and in the context of appreciating domestic currency, foreign portfolio investors (FPIs) are unlikely to sell significantly going forward, analysts said on Sunday.The better-than-expected FY26 earnings growth of 15.6 per cent for Nifty 500 is providing fundamental support and resilience to the market. “However, poor monsoon, so far this year, is becoming a concern,” said analysts.There has been a distinct cha…
New Delhi, June 19 (IANS) The minutes of the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) meeting released on Friday show that India has been able to withstand the disruptions of the West Asia crisis because of the strong fundamentals of the economy. MPC member Nagesh Kumar said, “The Indian economy entered the West Asia crisis with much stronger macroeconomic fundamentals than most previous economic crises (including the global financial crisis, the taper tantrum, or Covid-19)….
New Delhi, June 6 (IANS) The latest measures by the government and the Reserve Bank of India (RBI) to boost rupee and foreign capital could improve the balance of payments (BoP) by more than $30 billion in the short run, by both narrowing the current account deficit (CAD) and raising capital inflows, according to HSBC.Ahead of the June policy meeting, markets were focused on two fronts: rupee support measures and the policy rate decision. “We think the RBI took a split approach, going ‘all i…
New Delhi, June 5 (IANS) The central government on Friday issued the Income‑tax (Amendment) Ordinance, 2026, exempting foreign investors from paying taxes on interest income and capital gains arising from investments in government securities.The ordinance, effective April 1, 2026, amends Schedule IV of the Income‑tax Act, 2025, to add new entries exempting “any interest on Government security, and any capital gains arising from the sale, exchange or transfer of such Government security” …
New Delhi, May 21 (IANS) The government is actively working to address the sharp depreciation of the Indian rupee against the US dollar, with multiple measures currently under consideration to stabilise the domestic currency, Union Commerce and Industry Minister Piyush Goyal on Thursday said on Thursday.Speaking to reporters on the sidelines of an event here, Goyal said all arms of the government are functioning in coordination to deal with the evolving economic situation.“We are monitoring th…
New Delhi, May 13 (IANS) Morgan Stanley economists said on Wednesday they forecast India’s real GDP growth at 6.7 per cent in FY27 and 7 per cent for FY28 amid geo-political tensions, adding that the RBI policy measures would likely remain supportive to minimise damage to growth.The West Asia energy shock is most pronounced in quarter ending June 2026, when growth troughs at 6.5 per cent YoY amid elevated commodity prices and lingering supply chain frictions. “Thereafter, as supply-side cons…
Mumbai, May 13 (IANS) Gold and silver prices on Wednesday witnessed a sharp surge of up to 8 per cent after the government more than doubled the import duty on precious metals.On the Multi Commodity Exchange (MCX), gold futures (June 5) advanced as much as 7.20 per cent or Rs 11,055 to touch an intraday high of Rs 1,64,497 per 10 grams as of 9:50 am.The yellow metal was trading at Rs 1,62,728, up 6 per cent or Rs 9,286 from the previous close. Earlier in the session, it had opened at Rs 1,54,851…