INDIAN ECONOMY
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Deeper cooperation in hydrocarbons could play a key role in helping India and the United States achieve their goal of expanding bilateral trade to $500 billion by 2030, according to a report released by the US-India Business Council (USIBC) and Grant Thornton Bharat.
The report, titled Strengthening the Indi...
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Commerce and industry minister Piyush Goyal on Thursday said countries around the world are increasingly protecting their domestic industries, including in sectors such as steel, but India continues to navigate global trade challenges through dialogue, cooperation and trade partnerships.
Speaking at the Indi...
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India must expand its international engagement to realise its vision of becoming a USD 30 trillion economy by 2047, according to Union Minister of Commerce and Industry Piyush Goyal.
Speaking at the closing session of the 5th Annual Meeting of the India Global Innovation Connect, the Minister emphasised th...
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India is preparing for a wider-than-expected budget deficit this year, Bloomberg News reported on Friday, citing an official familiar with the matter, as the war in Iran drives up energy subsidy costs and adds pressure on government finances.
Reuters could not immediately verify the report and has sought c...
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As India sharpens its focus on becoming a developed nation by 2047, the 11th Governing Council meeting of NITI Aayog on Thursday turned into a showcase of the diverse ambitions and development blueprints of states, with chief ministers presenting roadmaps centred on human capital, technology, infrastructure a...
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The government may reassess the fertiliser subsidy budget for the current fiscal year following a softening of urea prices in the latest tender floated for soil nutrient imports, Aparna S Sharma, Additional Secretary, Department of Fertilisers, said on Thursday.
“Whatever is indicated (the lower price bid ...
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The World Bank has marginally raised its growth forecast for India to 6.6% for FY27 from 6.5% projected earlier, citing resilient domestic demand, even as it lowered its global growth outlook for 2026 to 2.5% amid escalating conflict in West Asia.
In its June 2026 Global Economic Prospects report, the multil...
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India is currently witnessing a massive surge in its data centre buildout wave. Installed capacity has already tripled in five years. And if you thought that was incredible, there is an even bigger wave ahead.
Committed investment for Data Centres has already crossed US$156 billion. Three of the world’s b...
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MARKET & FINANCE
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Elon Musk’s SpaceX has pulled off the biggest initial public offering (IPO) in US history, raising a staggering $75 billion and instantly becoming one of the most valuable companies in the world.
The rocket maker priced its shares at $135 each on Thursday, selling 555.56 million shares and reaching a valu...
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GLOBAL CORPORATE
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Alphabet's Google is in talks with Samsung Electronics to manufacture part of its next-generation artificial intelligence processor, The Information reported on Thursday, citing two people familiar with the matter.
Google plans for TSMC to make the main computing part of the tensor processing unit, codenam...
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The United States and the European Union have yet to decide whether to continue suspending or to reimpose tariffs on $11.5 billion of goods in a decades-long dispute over aircraft subsidies with just days to go before their truce expires.
The two sides in 2004 lodged parallel cases at the World Trade Organ...
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A U.S. appeals court on Thursday extended its block on a lower court ruling against the Trump administration's 10% global tariff under Section 122 of the Trade Act, keeping the tariffs in place for three importers that had won a reprieve from the duties last week.
The decision from the Federal Circuit appe...
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Banking
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India's bank credit growth accelerated to its fastest pace in nearly two years, driven in part by rising borrowing from oil marketing companies hit by lower realisations following the recent surge in crude prices, according to a report by Times of India.
Credit expanded 17.7% year-on-year in the fortnight ...
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Indian lenders have sought clarity from the Reserve Bank of India (RBI) on whether domestic banks can leverage the foreign currency non-resident bank [FCNR(B)] deposit scheme by extending loans to depositors through their overseas branches, bankers said.
This follows the RBI’s decision to allow depositors ...
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GLOBAL ECONOMY
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U.S. producer prices increased more than expected in May, leading to the largest annual gain in 3-1/2 years as the Middle East conflict boosted the cost of energy products, providing more evidence that inflation pressures were bui...
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Bangladesh unveiled a 9.38 trillion taka ($77 billion) national budget on Thursday, targeting 6.5% economic growth and 7.5% inflation as the government seeks to revive an economy strained by high prices, weak investment and financ...
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The International Monetary Fund cut its growth forecast for the euro zone on Thursday and raised its expectation for inflation because of the U.S.-Israeli war on Iran, adding that the economic situation could worsen if high energy...
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Argentina recorded slower inflation in May for the second month in a row, below analyst forecasts, even as the 12-month figure increased, data from national statistics agency INDEC showed on Thursday.
May's inflation rate of 2....
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New Zealand's manufacturing activity contracted slightly in May, slipping back into negative territory after seven months of expansion, as businesses remained concerned about weak demand and global economic pressures.
The Bank ...
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Japan's core consumer inflation likely held steady in May at roughly the previous month's pace due to end of government fuel subsidies, leaving inflation below the Bank of Japan's 2% target for a fourth month, a Reuters poll showe...
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German inflation eased slightly to 2.7% in May, the federal statistics office said on Friday, confirming preliminary data.
Inflation, or the gain in consumer prices harmonised to compare with other European Union countries, sto...
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Britain's economy contracted by 0.1% in April, its first monthly drop since August as the Iran war's cancellation of Formula 1 Grand Prix races and other Gulf sporting events delivered a blow to the British entertainment industry....
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Consumer prices in France rose 2.8% year-on-year in May, the highest level since February 2024, statistics office INSEE said on Friday, confirming a preliminary reading published last month.
The EU-harmonised inflation rate in ...
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Inside a new Bangladeshi glass factory with a production floor nearly twice the size of a soccer field, machinery sits wrapped in tarpaulins. At a neighboring steel mill, construction has slowed and production has yet to begin.
...
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Finance Minister Nirmala Sitharaman on Thursday said India is expected to remain one of the world’s fastest-growing major economies, with GDP growth projected at around 7% over the medium term, while cautioning that the responsibi...
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INDIAN CORPORATE
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Tata Consultancy Services on Friday launched India's first Oracle AI Data Platform Lab and Centre of Excellence (CoE) here to help enterprises accelerate adoption of artificial intelligence and data-driven transformation. The faci...
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L&T Technology Services has entered a strategic partnership with Databricks to co-develop artificial intelligence solutions for asset-intensive industries, the company announced via a filing with the exchanges.
What is the LTT...
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Tata Power expects the rapid expansion of artificial intelligence (AI), data centres and rising need for cooling these to drive a sharp increase in electricity demand in India over the coming years.
“Due to the rapid growth of...
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Insolvency
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A set of latest changes to the rules framed by the Insolvency and Bankruptcy Board of India (IBBI) has put additional checks and balances on the actions of the committee of creditors (CoC) involved in the resolution process of ban...
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