This decade will mirror the ’90s: Kenneth Andrade
The veteran of the investment industry argues that this decade will witness an export-led growth. And while IT and pharma would rule the economy, other smaller industries, too, will jostle to rise up.
Changing the tyres of your luxury car just got tougher
DGFT, in a bid to promote domestic manufacturing, has put tyres under the restricted category. That has meant that an importer now requires a license for imports. The replacement market has been hit.
India’s foreign exchange reserves at lifetime high
The big question is how much more foreign exchange will the Reserve Bank of India buy, and why?
Covid-19: Lockdown extended till May 17
The extension, which takes the total day-count of the lockdown to 54, will add to the challenges that the economy was already facing before Covid-19 took the shape of a pandemic.
India’s forex kitty could swell to $550 billion
Since April 2001 foreign exchange reserves grew 11.15 times to $476.09 billion in mid-February; the RBI may add $21 billion more by March 2021, according to a BofA Securities report.
Drip Capital raises $25 million from Accel, others
The fintech startup wants to fill the trade finance gap in India and globally by using technology to assess credit risk.
Passenger car sales slump 24% in June
Overall sales of the auto industry, which has been facing headwinds for more than a year, fell 12.34% to 1,997,952 units in June from 2,279,186 units a year ago.
Auto sales decline 15.93% in April: SIAM
Passenger cars—the largest segment by volumes—were the worst hit. Sales fell 19.93% to 160, 279 units in April from 200,183 a year ago.
‘India, U.S. can work together to reform WTO’
Commerce minister Suresh Prabhu says India and the U.S. can work together towards the reformation of the WTO, offers to make joint pitches for exports to Africa.
‘Want to make Indian steel industry competitive’
At the annual Fortune India Next 500 summit, minister of steel Chaudhary Birender Singh says he wants India’s steel industry to be number one in terms of quality in global rankings.