The dynamics of global trade have long been influenced by the US dollar’s status as the world’s reserve currency. However, the emerging economic coalition of BRICS (Brazil, Russia, India, China, and South Africa) is challenging this dominance. In a recent development, US President Donald Trump raised concerns about de-dollarisation, suggesting a potential 100% tariff on …
India’s economic growth is projected to remain steady at 6.7% annually for the next 2 fiscal years, beginning April 2025, according to a World Bank report on South Asia’s growth outlook. The report indicates that growth in South Asia, excluding India, is expected to rise to 6.2% in 2025-26. 2024-25 Economic Growth to Moderate For …
The Indian rupee opened 15 paise stronger on Monday, buoyed by a weakening dollar index and gains in Asian currencies. The local currency began trading at 86.4613 against the U.S. dollar, compared to its previous close of 86.6125. Rupee Strengthens Amid Dollar Index Decline The dollar index, which measures the U.S. dollar’s performance against six …
India’s goods exports recorded a marginal 1% contraction year-on-year in December, reaching just over $38 billion. In contrast, imports rose by 4.9% to nearly $60 billion, narrowing the merchandise trade deficit to $21.9 billion—a sharp decline from November’s record deficit of $31.8 billion. This moderation reflects positive shifts in certain trade parameters, despite underlying challenges. …
India’s booming solar, electric vehicle (EV), and electronics industries face significant disruptions as China imposes export restrictions on critical raw materials and machinery. This development, linked to geopolitical tensions and retaliatory trade policies, underscores the vulnerabilities in India’s supply chains and its heavy reliance on Chinese imports. China’s Export Curbs: A Strategic Move China has …
The Reserve Bank of India (RBI), in collaboration with the central government, has taken significant steps to promote cross-border transactions in Indian rupees (INR) and other local or national currencies. These measures aim to enhance the flexibility of foreign exchange management while fostering international trade and investment. Amendments to FEMA Guidelines Under the revised Foreign …
India’s foreign exchange reserves dropped by $8.71 billion to $625.87 billion as of week ending January 10, 2025, the Reserve Bank of India said on Friday. The reserves have been on a declining trend for the last few weeks. Weekly Decline in Forex Reserves The country’s forex reserves had dropped by $5.69 billion for the …
The Prime Minister of India has approved the establishment of the 8th Central Pay Commission, a pivotal step towards revising the salary structures, allowances, and pensions of central government employees and pensioners. This decision is anticipated to impact nearly 50 lakh central government employees, including defence personnel, and 65 lakh pensioners. Role and Scope of …
After the completion of Michael Debabrata Patra’s term, RBI reshuffled the portfolios of its deputy governors. M Rajeshwar Rao now heads the monetary policy department, with other departments reassigned among the governors. M Rajeshwar Rao Assumes Control of Monetary Policy The Reserve Bank of India has reorganised the responsibilities of its deputy governors following the …
India’s manufacturing sector, particularly industries reliant on Chinese imports such as electronics, solar panels and electric vehicles (EVs), is facing considerable challenges. Chinese authorities have significantly reduced exports of critical equipment necessary for production, a move believed to be aimed at hindering the growth of global companies in India such as Foxconn, BYD, and Lenovo. …
