India’s economic story is expected to remain on a path of “cautious resilience” in the near term, even as global uncertainties continue to grow, the department of economic affairs (DEA) said in its Monthly Economic Review for May.However, it cautioned that the ongoing conflict in the Middle East, rising crude oil prices and the possibility…
NEW DELHI: Gold demand in India has slipped by nearly 70 per cent after the government doubled import duty on the precious metal earlier this month.The higher fuel and food prices linked to the ongoing Iran conflict had further dragged down the consumer sentiment.Industry estimates showed gold demand fell to around 7.5 tonnes in the…
MUMBAI: Reports that India is expected to see its driest monsoon in a decade spooked investors on Dalal Street on Friday. In late trades, sensex fell sharply to close nearly 1,100 points (1.4%) lower at 74,776 points. HDFC Bank, ICICI Bank and Reliance Industries contributed the most to the day’s fall in the index, exchange…
NEW DELHI: India has emerged as the world’s fifth most digitalised economy, overtaking several advanced nations as rapid adoption of artificial intelligence, digital public infrastructure and online services reshape the global technology landscape, according to a report released on Friday.The State of India’s Digital Economy (SIDE) 2026 report by the ICRIER-Prosus Centre for Internet and…
NEW DELHI: The Supreme Court on Friday cleared Reliance Industries (RIL) of the charge of making an illegal and undue gain of Rs 447 crore in 2007 while trading in Reliance Petroleum (RPL) shares by allegedly manipulating prices and set aside Securities Appellate Tribunal’s order allowing disgorgement of the profit.RIL had earned Rs 5,013 crore,…
MUMBAI: The India heads of AI world’s arch-rivals Anthropic and OpenAI took to the stage at the annual Tech Week here, pitching their suite of products to a room full of developers and founders.“What makes India really important in OpenAI’s journey is the opportunity centred around access, adoption and agency,” said Pragya Misra, OpenAI’s head…
MUMBAI: RBI’s record surplus transfer of nearly Rs 2.9 lakh crore reflects a year in which gains from dollar investments, forex market intervention and robust domestic bond income combined to lift RBI’s total income by 26% to about Rs 4.3 lakh crore in FY26, up from Rs 3.4 lakh crore a year earlier.A large share…
New Delhi: The hike in jet fuel prices will be passed on to both domestic and international consumers as increased airfares, IndiGo said Friday after flying into the red with a loss of Rs 2,537 crore in the fourth quarter of the 2026 fiscal, compared to a profit of Rs 3,067 crore in the same…
Indian equity benchmarks witnessed sharp selling pressure on Friday, with the Sensex plunging more than 1,000 points and investors losing nearly Rs 5 lakh crore in market value, as concerns over a weak monsoon, uncertainty around a US-Iran peace deal and continued foreign investor selling weighed on sentiment. The Sensex closed 1,092 points lower at…
NEW DELHI: Drawing lessons from the disruption in energy supplies because of the West Asia conflict, govt has asked oil marketing companies to work on creating a 30-day strategic reserve of LPG.Petroleum ministry joint secretary Sujata Sharma said the reserve would be over and above the 45-day rolling stock maintained by oil retailers to meet…
