Economy

India is showing a political and economical will to usher in the massive development required, said NITI Aayog CEO Amitabh Kant.

China and India should collaborate for mutual growth as the two nations play a major role in the economy and the politics of the world today, said Gujarat Chief Minister Vijaybhai Rupani.

The Indian banking system is on the cusp of a transformation, aided by recent policy measures to reduce vulnerabilities and improve its financial health, said Shaktikanta Das, Governor of Reserve Bank of India.

Commerce and Industry Minister Piyush Goyal has asked RBI to extend US$25 billion line of credit to exporters, ensuring funds with interest rates not 2% above LIBOR.

The market for distressed assets in India is vast and will increase in the days to come, given the size of the Indian economy, its growth potential of 7+% for over next two decades or so, increase in intensity of...

Singapore, the Asian economic hub ranked top with 2018 foreign direct investment flow into India, is seen as leading investor in India’s US$250 billion worth of stressed assets in the financial sector.

The Federation of Indian Chambers of Commerce and Industry (FICCI) has called for a dialogue between India and the US to find a workable solution with regard to the termination of the Generalized System of Preferences (GSP) for Indian products.

As widely anticipated, the Reserve Bank of India (RBI) has once again reduced its key lending rate by 25 basis point. The lending rate now stands at 5.75, and this is the third consecutive rate cut since February 2019.

The World Bank sees Indian economic growth at 7.5% over the next three years, driven by robust investment and private consumption.

The Baxter International Foundation has announced a US$2.2 million grant to Operation Smile, one of the world’s largest volunteer-based surgical nonprofit organizations, to deliver free surgical and multidisciplinary care to underserved communities in India.