New Delhi, June 12 (IANS) The moderation of headline retail inflation below 4 per cent reflects the resilience of India’s macroeconomic fundamentals and the effectiveness of ongoing efforts to maintain price stability, industry chamber PHDCCI said on Friday.Retail inflation, measured by the Consumer Price Index (CPI), stood at 3.93 per cent in May (year-on-year), remaining below the Reserve Bank of India’s medium-term target of 4 per cent despite a modest increase from 3.48 per cent in April.The…
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New Delhi, June 1 (IANS) Industry Chamber PHDCCI on Monday said that the India–Oman Comprehensive Economic Partnership Agreement (CEPA) strengthens India’s trade connectivity with the GCC and East Africa through strategic logistics infrastructure.The agreement will strengthen economic integration of both countries by improving market access, trade benefitting exporters, professionals and investors, according to a statement.“Reduced trade barriers will open new opportunities for MSMEs and s…
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, May 12 (IANS) The moderate jump in inflation in April reflects relatively stable price conditions across several core consumption categories, particularly transport, industry leaders said on Tuesday.However, food price pressures remain elevated in select commodities, indicating the continued importance of supply-side monitoring, said PHDCCI.“Among major commodity groups, transport inflation remained subdued at near-zero levels as Government has not increased retail pump prices despi…
New Delhi, May 9 (IANS) PHD Chamber of Commerce and Industry (PHDCCI) on Saturday welcomed the government’s decision to approve a Rs 5,000 crore emergency credit support scheme for airlines under ‘ECLGS 5.0’ to address the financial and operational stress arising from the ongoing West Asia crisis.Rajeev Juneja, President, PHDCCI, said, “The Government’s swift intervention through the Rs 5,000 crore emergency credit scheme demonstrates strong policy responsiveness towards one of the most cr…
New Delhi, May 7 (IANS) Vietnam President To Lam’s visit to India elevated bilateral ties to an Enhanced Comprehensive Strategic Partnership, and will improve India’s access to critical inputs, generate substantial long-term benefits for exports, investments, and GDP growth, the industry chamber PHDCCI said on Thursday.Rajeev Juneja, President, PHDCCI said that the bilateral partnership creates a stronger framework for supply-chain resilience, manufacturing cooperation, digital connectivity,…
New Delhi, Feb 27 (IANS) As India moves towards deeper integration in the global value chains, base year updates at regular intervals, current after every five years, it reflects the government’s commitment to data-driven policy intervention to shocks in the global economy, economists said on Friday.New estimates of real GDP at Rs 322.58 lakh crore in FY 2025-26, against the First Revised Estimate (FRE) of GDP for the year 2024-25 of Rs 299.89 lakh crore pegs GDP growth rate at 7.6 per cent, as …
New Delhi, Feb 7 (IANS) The interim tariff agreement marks a significant development in the US-India trade relations, potentially expanding market access for exporters in both countries and providing a stable and comprehensive trade framework, industry said on Saturday.India and the United States have finally signed an interim tariff agreement aimed at reducing trade barriers and strengthening bilateral economic cooperation. “The framework was agreed upon in ongoing negotiations to expand two-…
New Delhi, Feb 3 (IANS) Leading industry chambers on Tuesday said the India-US trade deal will enhance the global competitiveness of Indian products while catalysing manufacturing growth, employment creation and the development of resilient supply chains.The US has immediately reduced reciprocal tariff on Indian goods from 25 per cent to 18 per cent, while waiving off the other 25 per cent tariffs imposed on the country for purchasing Russian oil.“The expected reduction of US-India tariffs to …
New Delhi, Dec 31 (IANS) The launch of the Market Access Support Intervention scheme under the Export Promotion Mission by the government marks a strategic shift in country’s export strategy, aimed at strengthening international market access for India’s exporters, particularly micro, small and medium enterprises (MSMEs), and first-time exporters, the PHD Chamber of Commerce and Industry (PHDCCI) said on Wednesday.The Market Access Support Intervention (MAS) addresses structural constraints …