BUSINESS
Exclusive: India mulls steps to insulate bond markets from any abrupt outflows post index inclusion
The addition of Indian government bonds in JPMorgan's global indices in June is expected to bring in billions of dollars. The authorities are nevertheless concerned about the impact of possible large outflows
INDIA
At UNGA, Jaishankar says political convenience should not determine responses to terrorism
Though Jaishankar avoided directly mentioning Canada, a country with which India has seen tensions rising of late, the minister said that "respect for territorial integrity and non-interference in internal affairs cannot be exercises in cherry picking."
BUSINESS
Fuel exports rebound to a 5-month high but demand woes linger
With fears of a global slowdown impacting exports, India’s ability to continue as one of the top exporters of fuel, especially to newer markets like the US and Europe, would be a key factor in limiting the country’s widening trade gap.
BUSINESS
Top policy-makers, experts welcome move as bond inclusion opens door for greater foreign inflows
The move potentially gives global investors greater access to the world’s fastest-growing large economy that offers some of the highest returns in the region
BUSINESS
India's FY24 outlook bright but risk from oil spike, monsoon remains: Finance Ministry
The ministry also acknowledged that a potential stock market correction as well as geopolitical developments could hurt investment sentiment in the second half of the financial year, however, their impact on underlying economic activity should be relatively contained.
BUSINESS
Fin Min unlikely to change borrowing plan for second half of FY24
According to sources, the government sees no reason to lower its plan to borrow Rs 6.55 lakh in October 2023-March 2024. Any reduction in borrowing could be done at a later date once there is certainty about revenues.
BUSINESS
India’s CAD concerns make a comeback as crude climbs, trade gap worsens
A sharp sequential uptick in goods imports driven by a pick-up in inbound shipments of oil led to an increase of nearly 17 percent in India’s merchandise trade deficit in August compared to July.
BUSINESS
From clothes to PCs, falling Indian production points to weak demand
According to economists, the falling production of consumer durable goods is worrisome
BUSINESS
Expect FY24 revenue collections to meet budget targets, says Economic Affairs Secy
Responding to a question on whether the government expects key index provider JP Morgan to include Indian government bonds in global indices, Seth said, "it is for them to decide."
BUSINESS
Centre hopes to lower annual borrowing to Rs 12-13 lakh cr in next few years: Sources
The central government’s borrowing has hit new record highs over the last two years, rising to Rs 14.21 lakh crore in 2022-23. In fact, the budget presented on February 1 pegged it at Rs 15.43 lakh crore for 2023-24 and the government is keen on keeping a lid on it
BUSINESS
From Ukraine consensus to a mega rail-port corridor, India ended G20 Summit on a high note
India appears to have played the balancing act well, forging consensus on the contentious Russia-Ukraine war, managing China’s obstructionist approach and bringing the African Union into the fold.
BUSINESS
From G20 menus, Shree Anna makes its way into the New Delhi Declaration
Millets need less water and are more resistant to pests and tolerant of heat, making them the ideal grain in a world threatened by climate change and water scarcity
WORLD
G20 Summit: Aiming for UNSC reforms, India and Brazil agree to conduct regular bilateral meetings
Modi and Lula also agreed to work together for the expansion of India-MERCOSUR Preferential Trade Agreement during Brazil’s MERCOSUR Presidency, to leverage the full potential of their economic partnership.
BUSINESS
India proposed investment options for Russia's rupee pile-up problem: Sergei Lavrov
While India and Russia did settle their trade in rupees following the setting up of the framework, the system did not take off as hoped as Moscow soon accumulated a surplus to the tune of billions of rupees on account of New Delhi’s oil purchases
WORLD
G20 Summit: A New Delhi Declaration without condemning Russia a fragile win for all
While the New Delhi Declaration said members reiterated their national positions on the war in Ukraine, explicit condemnation of Russia was conspicuous by its absence, making the joint statement a seemingly watered-down version of its predecessor
BUSINESS
India's G20 presidency: Of war, sanctions, and a naysayer in China
India's stated position since February has been that it has derived the statement from the Bali Leaders' Summit and does not have the mandate to change that. So it was left to the leaders during the Summit in September to take a call on that.
BUSINESS
Countries will be more willing to hold Indian bonds once rupee use increases globally: Sanjeev Sanyal
India’s efforts to internationalise the rupee has nothing to do with de-dollarization. The effort is to make the rupee a hard currency like the euro, the yen and the British pound, he said
BUSINESS
MC Interview: India aims to make rupee a hard currency over next 10 years, says Sanjeev Sanyal
Much of India’s global image is dictated by indices and standards devised by the West and one way to tackle that may be for India to develop its own indices and benchmarks.
BUSINESS
G20: PM Modi’s Adviser Sanyal says India not looking to balance or side with different blocs
G20 Summit 2023: We (India) are trying to pursue our own interests. Our agenda is to serve the interests of 1.45 billion Indians, Sanyal said.
BUSINESS
G20: China opposed key suggestions from India on women-led development, says source
One of the suggestions that China opposed pertains to the setting of a certain minimum quota for public procurement from enterprises led by or having a higher representation of women.
BUSINESS
Citing Apple and Samsung, DGFT head Sarangi says states should take steps to woo more investors in electronics sector
Citing the potential for exponential growth in exports of electronic products, Sarangi said that India is a huge market for laptops and mobile phones
BUSINESS
Exclusive: Finmin not in favour of govt panel suggestion to revamp, hike spending on MGNREGA job plan
To be sure, the finance ministry will assess around October-December if there is a need for additional funds for MNREGA in the current fiscal based on the demand scenario going ahead.
BUSINESS
MC Exclusive: With elections in mind, most states may use up 3% borrowing cap as freebies gain traction
Andhra Pradesh, Telangana, Kerala, and Punjab are likely to lead the ranks in borrowing heavily from state development loans, in a bid to fund fiscally profligate schemes announced by them, a senior finance ministry official said.
BUSINESS
MC Policy Next: Amitabh Kant defends import curb, says technology needs trustworthy partners
Kant pointed out that historically after every phase like that of the pandemic there is a period of around 5-6 years of protectionism in the world.
