Washington, April 9 (IANS) India’s economy is maintaining strong growth momentum, driven by robust domestic demand, resilient services exports and sustained reforms, the World Bank said in its latest report.Growth is estimated at 7.6 per cent in fiscal year 2025-26, higher than earlier projections, reflecting the strength of consumption and investment activity, according to the South Asia Economic Update.Private consumption has been a key driver. The report said retail demand has remained stea…
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Washington, April 8 (IANS) The World Bank on Wednesday said India is expected to clock a 7.6 per cent GDP growth in the financial year 2025-26, while it has raised the country’s growth forecast for 2026-27 to 6.6 per cent from 6.3 per cent earlier.The World Bank Group, in its twice-a-year regional outlook report, stated that “the growth outlook is driven primarily by India’s performance, underpinned by robust domestic demand as well as tariff cuts and recent trade agreements, including the f…
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…
New Delhi, March 14 (IANS) India’s services exports have maintained strong momentum in FY2025-26, supported by sustained global demand for Indian services and over the April-January 2025-26 period, services exports are estimated at $348.4 billion, an official factsheet said on Saturday.India’s services exports share in GDP averaged 9.7 per cent during FY23-FY25, marking a notable rise from 7.4 per cent in the pre-pandemic period, and highlighting the growing role of the services sector in su…
Coimbatore, March 9 (IANS) The ongoing conflict in West Asia and the disruption of maritime traffic through the Strait of Hormuz have begun to impact India’s textile sector, with polyester fibre prices rising sharply in the past week. According to industry representatives, the price of polyester fibre has increased by Rs 12 per kilogram, creating fresh concerns for textile manufacturers and exporters. The Strait of Hormuz is one of the world’s most crucial maritime corridors for the transpor…
New Delhi, Feb 20 (IANS) The Indian economy continues to register high growth despite a challenging external environment clouded by geo-political uncertainties, the latest RBI Bulletin said on Friday, adding that the recent trade agreements with the European Union (EU) and an interim trade deal framework will help the growth momentum stay robust for a longer period. According to Central Bank Governor Sanjay Malhotra, benign inflation provides the leeway to remain growth-supportive while preservi…
New Delhi, Feb 18 (IANS) Norway is looking forward to the visit of Prime Minister Narendra Modi, scheduled for later in the year, which would further expand bilateral cooperation, said Norwegian Prime Minister Jonas Gahr Store.In his meeting with Finance Minister Nirmala Sitharaman in Oslo, Store appreciated India’s reform momentum and said that Norway and India can collaborate in the sectors of fisheries, health tech, maritime and space. He also lauded the contribution of Indian diaspora in Nor…
Gandhinagar, Feb 15 (IANS) Union Home Minister Amit Shah on Sunday rejected the Congress’s claims that India’s recent trade agreements with the United States and the European Union would harm farmers, saying that “the government had ensured full protection for agriculture, dairy and fisheries in every pact”. In his address at a gathering in Gandhinagar after inaugurating the country’s first Central Bank Digital Currency-based Public Distribution System, Shah accused the Congress and its leader, …
Washington, Feb 12 (IANS) The United States expects India to follow through on tariff reduction commitments under President Donald Trump’s trade agreement, the White House said, calling the pact an “objective win” for American farmers, workers, and industries.“President Trump’s historic trade agreement with India is an objective win for American farmers, workers, and industries,” a White House official told IANS on Wednesday (local time).The official said the administration views the…
Mumbai, Feb 11 (IANS) The Indian apparel (exports) sector has been upgraded to ‘Stable’ outlook from ‘Negative’ after the US reduced reciprocal tariffs on Indian goods to 18 per cent from 25 per cent, a report said on Wednesday.The report from ratings agency ICRA restored its outlook on the apparel sector, saying apparel export revenues are likely to rebound 8–11 per cent in FY27 even as shipments are still projected to decline 3–5 per cent in FY26.The report attributed revenue growth to rec…