India’s central bank cut interest rates in the world’s fifth-largest economy on Wednesday as US President Donald Trump’s tariffs kicked in and policymakers warned of “challenging global economic conditions”.
India’s economic growth could slow by 20-40 basis points in the ongoing financial year due to the latest US tariffs, which would prompt deeper interest rate cuts by the central bank, analysts said.
India on Thursday reacted cautiously to US President Donald Trump’s sweeping tariffs with exporters saying the flat 27 percent on exports imposed on fifth-largest economy could have been far worse.
India’s retail inflation fell below 4 percent in February for the first time in six months mainly due to a decline in vegetable prices, giving the central bank room to cut rates further in coming meetings.
Indian exports are facing mounting pressure from aggressive trade policies by partners such as the United States and the European Union, a senior trade ministry official said on Tuesday.
India’s central bank cut interest rates Friday for the first time in nearly five years, as concerns over a growth slowdown in the world’s fifth largest economy outweighed inflation risks.
India’s growth trajectory is expected to pick up in the second half of 2024-25, driven by domestic private consumption and a sustained revival of rural demand, the central bank said in its monthly bulletin released on Tuesday.
Sugarcane yields in India are declining due to last year’s drought and this year’s excessive rains, which could reduce the country’s sugar production below consumption levels for the first time in eight years, farmers and industry officials said on Monday.
Marico Bangladesh Ltd, a listed multinational company, said its profit soared 30 percent year on year to Tk 172.57 crore in the April-June quarter.
India is warming up to its northern neighbour. The South Asian country’s annual economic report recommends courting investment from China rather than integrating into the country’s supply chains. That lays out a way for companies from Shein to BYD to keep selling in Western markets despite rising suspicion towards the People’s Republic. Much depends on how the Sino-American trade war plays out.
Indian consumer goods companies Marico, Dabur and Adani Wilmar reported a pick up in first-quarter revenue growth as demand improved gradually, with consumers spending more on personal care and cooking products.
The target area under kharif onion this year is 3.61 lakh hectares which is 27 percent higher than last year, the Ministry of Food said on Friday.
Demand for beer in India is at a multi-year high and air conditioner sales are skyrocketing as the intense, unprecedented heat scorching parts of the country becomes a boon for some consumer businesses.
India’s oil imports from Russia rose to a record of about 2.1 million barrels per day (bpd) in May as discounts for Russian oil widened on lower demand from China, according to trade sources and shipping data.
The Indian economy is likely to remain the fastest-growing major one in coming years, but a majority of independent economists and policy experts polled by Reuters are not confident it will make any difference in narrowing stark economic inequality.
Credit rating agency Moody’s said India is expected to remain the fastest-growing economy in the Asia-Pacific region in the second half of the year 2024.
India has begun withdrawing military personnel operating surveillance aircraft in the Maldives after the new pro-China president ordered them to leave, local media reported Tuesday
Bandwidth imports from India have surpassed that from submarine cables due to a surge in internet usage, India’s more attractive pricing and enhanced redundancy, and the saturation of Bangladesh’s existing undersea cables’ capacity.
