Pakistan’s foreign exchange reserves are nearing the government’s $18 billion target for FY26, but a widening trade deficit, mounting external payment obligations and pressure on the rupee are raising concerns about the country’s economic stability, PTI reported.Data released by the State Bank of Pakistan (SBP) showed the country’s foreign exchange reserves increased by $43 million…
Hailing India’s 7.7% GDP growth in FY26, Prime Minister Narendra Modi on Friday said the expansion reflected the “inherent strength” of the economy, the “success of reforms” and the “hard work of 140 crore Indians”.“India’s growth momentum remains strong! GDP growth rate of 7.7% in FY 2025-26 and 7.8% in Q4 of FY 2025-26 reflect…
India can return to a growth trajectory of over 7% in FY28 through macroeconomic stability and supply-side measures, provided external conditions improve, Chief Economic Adviser V Anantha Nageswaran said on Friday.The comments came after the Reserve Bank of India lowered its GDP growth forecast for FY27 to 6.6% from 6.9% projected in April, citing elevated…
India’s foreign exchange reserves rose by $938 million to $682.321 billion in the week ended May 28, snapping the previous week’s decline, according to data released by the Reserve Bank of India (RBI) on Friday.In the preceding reporting week, the country’s forex reserves had fallen by $7.511 billion to $681.384 billion, reported PTI.India’s reserve stock…
Reserve Bank of India Governor Sanjay Malhotra on Friday cautioned that a projected deficiency in the south-west monsoon could impact rural demand and private consumption, even as various government initiatives are expected to cushion the effect.Speaking at the post-monetary policy press conference, Malhotra said consumption trends have remained healthy so far but acknowledged that a…
Indian entrepreneurs have emerged as the largest immigrant group behind America’s billion-dollar startup ecosystem, founding or co-founding 96 US unicorns, according to a new study that underscores the growing influence of Indian talent on the world’s biggest innovation economy.The report by the National Foundation for American Policy (NFAP) found that immigrants have founded or co-founded…
India is projected to surpass China in terms of its share of global GDP measured in purchasing power parity (PPP) by around 2060, as China’s contribution to the world economy is expected to stabilise and decline in the second half of the century, PTI reported citing a report by researchers associated with the World Inequality…
Old gold exchange transactions at jewellery stores have surged by as much as 60% year-on-year as soaring gold prices encourage consumers to use existing jewellery to fund fresh purchases, according to an ET report citing industry executives.The report said exchange-led purchases now account for almost half of sales at leading jewellery chains. The trend has…
Russian President Vladimir Putin on Thursday expressed confidence that bilateral trade between India and Russia will reach USD 100 billion in the coming years, highlighting growing cooperation in energy, investments and other strategic sectors.Speaking at the St Petersburg International Economic Forum, Putin praised India’s economic growth and described New Delhi as a reliable partner, while…
Indian economy (AI image) With an aim to attract foreign capital, the government on Friday promulgated an ordinance to exempt capital gains tax on investments made by Foreign Institutional Investors in government securities, according to a PTI report. The move is aimed at making Indian debt markets more attractive to overseas investors while helping shield…
