With an aim to deepen bilateral trade and economic ties, India and Vietnam on Tuesday convened the 5th meeting of the India-Vietnam Joint Trade Sub-Commission (JTSC) , the ministry of commerce & industry said. This meeting was held after a gap of more than four years on account of the covid-19 pandemic and other factors. … Read more
India’s gross revenues from the Goods and Services Tax (GST) hit a three-month high to cross ₹1.65 lakh crore in July. However, at 10.8%, it was the slowest uptick in collections since July 2021 compared to revenues from the same month last year. Revenues from domestic transactions and services imports grew 15% in July, which … Read more
What is currency internationalization? Internationalization means using a currency for cross-border transactions, including for purchase of goods, services or financial assets by non-residents. An international currency can be used by private players to settle trade or by governments to intervene in currency markets and financing balance of payments. It can also be used as a … Read more
India’s booming economy is the envy of other major markets. But beyond the hype and expectation, people who watch the country closely are flagging warning signs. The nation is heading for a slowdown, analysts who cover it say, as rising inequality squeezes consumer spending among the poor — and the hundreds of millions in the … Read more
Russia and India have suspended negotiations over using rupees for trade, Reuters reported. Moscow, with a high trade gap in its favor, believes accumulating rupee is “not desirable.” China prefers to be paid in Chinese yuan or other currencies. Russia and India have suspended negotiations over using rupees for trade between the two countries, with … Read more
Finance minister Nirmala Sitharaman on Friday said the Union government was committed to privatization. Speaking at the launch of veteran banker Narayanan Vaghul’s book Reflections, Sitharaman said the government believes that it should not be doing business where it is not meant to be. “Since 1947, for the first time, the word privatization was used … Read more
C. Rangarajan, former chairman of the Economic Advisory Council to the Prime Minister, on Friday said the Reserve Bank of India (RBI) and the Centre should work together, understand each other and try to see that basic principles are implemented without sacrificing the particular stand of the institutions concerned. Mr. Rangarajan, who is chairman of … Read more
A fleeting moment in western India on the evening of March 8 will remain etched in Nikita Punjabi’s memory forever: The first glimpse of her newborn daughter as the doctor held her up after delivery. Aniket Rai, nervously waiting during the birth, cried tears of joy when the nurse told him he had a baby … Read more
India’s monthly goods and services tax (GST) collections hit the second highest ever in March, rising 13% from a year earlier to `1.6 lakh crore, suggesting economic strength despite several headwinds. The total gross collection for FY23 was Rs 18.10 lakh crore, an average Rs 1.51 lakh a month and up 22% from FY22, data … Read more