The Maha Kumbh Mela in Prayagraj, Uttar Pradesh, is not only a grand religious gathering but also an economic powerhouse. With an estimated 40 crore visitors expected during the event starting January 13, this 45-day festival is set to generate significant business opportunities across sectors like hospitality, tourism, and retail. Massive Budget and Infrastructure Investment …
The Wholesale Price Index (WPI)-based inflation experienced a notable increase, reaching 2.37% in December 2024, up from 1.89% in November. This marks a significant rise from the 0.86% recorded in December 2023. While food inflation showed signs of easing, the surge in prices of manufactured goods contributed to the overall increase in WPI inflation. Food …
As per news reports, the Reserve Bank of India utilised swaps to inject approximately $3 billion in rupee liquidity on Friday. The swaps had maturities of three, six, and twelve months. The RBI has not yet responded to an email seeking comment. Liquidity Tightness Amid Rising Dollar Pressure The Indian banking system is facing liquidity …
On January 14, 2025, the Indian rupee weakened significantly, trading at 86.50 to the U.S. dollar and hitting an intra-day high of 86.65. The rupee’s decline stood out among Asian currencies, which also faced pressure but experienced milder losses. While the Thai baht, Philippine peso, and Malaysian ringgit dropped between 0.3% and 0.6%, the Chinese …
Retail inflation in India eased to 5.22% in December 2024, marking the lowest level in four months. This decline was primarily driven by a reduction in food prices, as the Ministry of Statistics & Programme Implementation reported on January 13. Food Inflation Trends Food inflation for December 2024 stood at 8.39%, slightly above the expected …
India’s coal sector continues to play a pivotal role in supporting the country’s expanding economy. However, a significant gap remains in the availability of domestic coal reserves, particularly for coking coal and high-grade thermal coal, which are essential for critical industries like steel production. To bridge this gap, coal imports have been crucial. Reduction in …
The Union Ministry of New and Renewable Energy (MNRE) has reported substantial progress in India’s renewable energy sector, showcasing significant achievements between December 2023 and December 2024. The total installed renewable energy capacity has reached a remarkable 209.44 GW as of December 2024, marking a 15.84% increase from 180.80 GW in December 2023. Record Capacity …
The Bharat Climate Forum 2025 in New Delhi, Union Minister of Commerce & Industry, Shri Piyush Goyal, unveiled the Bharat Cleantech Manufacturing Platform. This initiative aims to strengthen India’s cleantech value chains across sectors like solar, wind, hydrogen, and battery storage, steering the nation towards its sustainability goals. The Need for Innovation and Independence During …
On January 13, 2025, the Indian rupee traded up at 86.31 to the U.S. dollar, against 85.97 at the previous close. The rupee had hit a record low of 85.97 against the dollar on Friday, surpassing its previous record low of 85.86 hit earlier last week. Rupee Drops to Record Low as Dollar Strengthens The …
India’s planned revision of its 14-year-old trade agreement with the Association of Southeast Asian Nations (ASEAN) is encountering delays, as the bloc’s members push to negotiate tariffs individually rather than adopting a unified tariff structure. The review, initially expected to be finalised at next month’s Jakarta meeting, has been stalled due to resistance from several …
