Piyush Goyal announced India’s ambition to become a top three global economy within the next two to two-and-a-half years, highlighting the nation’s remarkable economic progress. He attributed this growth to reforms like GST, projecting a $30 trillion economy by 2047.
ICRA has revised the outlook for the Indian apparel export sector to Negative due to increased US tariff rates, anticipating a 6-9% drop in export revenues in FY2026. This tariff hike, effective from August 27, is expected to significantly impact the competitiveness of Indian exporters, potentially contracting industry operating margins by 200-300 basis points.
Consumer goods companies are appealing to the government to allow the sale of products with existing packaging at reduced prices following the GST rate cuts effective September 22. This request aims to prevent the wastage of packaging material worth over Rs 2,000 crore, as companies hold significant inventory with pre-printed MRPs.
Indian Railways is set to launch its first Vande Bharat sleeper train in the coming weeks, aiming to provide a faster and more comfortable travel experience than the Rajdhani Express. The initial service is expected to operate from Delhi to destinations around 1,000 kilometers away, such as Ahmedabad, Bhopal, and Patna.
China’s export growth slowed in August, missing forecasts due to a sharp decline in shipments to the US, despite gains in Europe and Southeast Asia. Imports also grew at a slower pace, contributing to a trade surplus. Analysts attribute this to fading frontloading effects and trade diversion amid ongoing US-China trade tensions, with expectations of…
A Morgan Stanley report projects a massive surge in water consumption by AI data centers, potentially reaching 1,068 billion litres by 2028, an elevenfold increase from 2024. This rise is driven by cooling needs, electricity generation, and semiconductor manufacturing. Concerns are mounting as many data center hubs are located in water-stressed regions, demanding efficient water…
Chief Economic Adviser V. Anantha Nageswaran estimates that US President Trump’s 50% tariffs could reduce India’s GDP growth by 0.5% to 0.6%. While the US tariffs impact export competitiveness, India’s growth relies more on domestic consumption. Experts suggest the tariff impact could be limited.
Gold price prediction today: Gold prices have surged to record highs, fueled by geopolitical tensions and expectations of a US Federal Reserve rate cut. Weak US labor market data has solidified these expectations, with markets pricing in a high probability of a rate cut.
Asian markets saw a positive start to the week, led by Tokyo’s surge following Prime Minister Ishiba’s resignation, which weakened the yen and boosted exporters. Oil prices also edged higher as Opec+ signaled a slower increase in output. Investors are also considering weak US labor data, which has strengthened expectations of a Federal Reserve rate…
Air India’s chief, Campbell Wilson, addressed employees, assuring them that operational incidents like go-arounds are normal given the airline’s scale. He emphasized the airline’s commitment to transparency in reporting incidents to build trust, despite increased news coverage. Wilson highlighted ongoing improvements in performance, including on-time performance and baggage handling, alongside empowering frontline teams to resolve…
