The Indian space economy, valued at $8 billion, is set to soar to $44 billion in the next decade, as shared by Dr Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology. Speaking with Shri Vijay Tankha on Sansad TV, Dr Singh credited transformative reforms under PM, Narendra Modi, for opening the …
The Indian rupee opened 7.6 paise higher on Tuesday, January 21, 2025, trading at 86.36-86.38 to the dollar in the 1-month non-deliverable forward market, compared to its previous close of 86.5675. The movement was largely influenced by U.S. dollar fluctuations driven by news surrounding U.S. President Donald Trump’s tariff plans. Dollar Index Drops to Two-Week …
India’s coffee industry has witnessed exceptional growth over the past years. The coffee cultivation in India has transformed from a modest practice into a major industry. Today, India stands as the 7th -largest coffee producer in the world, with its coffee beloved by global consumers. In FY24, coffee exports from India reached an impressive $1.29 …
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 …
