"indian-economy"

India’s GST collections rose marginally to Rs 1.70 lakh crore in November, supported by policy reforms and higher import IGST. Net GST revenue grew 1.3per cent, while April–November collections rose 7.3per cent, reflecting steady consumption and economic momentum

State Bank of India (SBI) reported a 10 per cent rise in standalone net profit to Rs 20,160 crore for the September quarter of FY26. Improved asset quality and higher interest income supported the bank’s strong quarterly performance

The Unified Payments Interface (UPI) recorded its highest-ever single-day value of Rs 1.02 lakh crore on October 18, buoyed by strong festive demand and GST rate cuts that boosted consumer spending. Retail sales also surged to an unprecedented Rs 6.05 lakh crore

Defence Minister Rajnath Singh said India’s economy cannot thrive without trade and business activity, urging support for indigenous production. Speaking at a Lucknow event, he credited the Aatmanirbhar Bharat push for strengthening both India’s economy and defence manufacturing capabilities.

Rising tariffs, stagnant productivity, and AI disruptions demand a Commission for Productivity and Employment Growth

Andhra Pradesh Deputy CM Pawan Kalyan welcomed the rollout of GST 2.0, calling it an auspicious day for the Indian economy. Leaders highlighted the reforms’ benefits for farmers, MSMEs, local manufacturing, consumers, and the aviation sector, boosting India’s growth trajectory.

Prime Minister Narendra Modi highlighted India’s dependence on foreign nations as its biggest challenge, advocating self-reliance in sectors from semiconductor chips to shipping. He announced major reforms and investment plans to strengthen India’s maritime industry and overall economic independence

Chief Economic Adviser V Anantha Nageswaran said urban demand may be stronger than reflected in official data, citing UPI growth and SME spending. He projected FY26 growth at 6.3–6.8 per cent and emphasised the need for innovation to sustain exports

The GST 2.0 rationalisation has reduced rates across textiles and logistics, easing structural anomalies, cutting costs, and boosting demand. The reforms will make garments more affordable, lower freight costs, strengthen SMEs, and enhance India’s export competitiveness, particularly in textile

Billionaire investor Mark Mobius praised Prime Minister Narendra Modi on his 75th birthday, crediting him for India’s economic growth, digitalisation, and global rise, as celebrations included major health, welfare, and textile initiatives.

Ch V Sai Prasad highlighted systemic weaknesses in India’s economy, urging reduced dependence on foreign goods and stronger manufacturing. He noted the ongoing US tariff war is manageable but resilience is crucial for India’s ambition to become a global superpower

Finance Minister Nirmala Sitharaman said the next generation of GST reforms will simplify compliance, benefit small businesses, and boost transparency. She praised banks for improved asset quality, noted record GDP growth, low inflation, and underlined trust, technology, and transparency as guiding principles

India’s economy continues to grow robustly despite US tariffs, with domestic consumption driving 68% of GDP. Corporate investments, like Apple’s $2.5 billion India expansion, signal confidence, highlighting risks that Trump’s confrontational trade stance could weaken America’s long-term strategic and economic position.

RBI Governor Sanjay Malhotra stressed that the central bank remains focused on growth despite tariff and geopolitical challenges. He urged banks and corporates to revive investments, assured sector-specific support, and confirmed upcoming measures to expand credit and enhance financial inclusion

With numbers rising from 6.48 crore in FY20 to 8.56 crore in FY25 officials attribute the surge to digitisation, policy reforms, and compliance measures

The government has waived the 11 per cent duty on raw cotton imports till September 30 to ease supply pressures on the textile industry. The relief coincides with Indian exporters facing a steep 50 per cent tariff in the US

India is actively negotiating Free Trade Agreements (FTAs) with multiple countries including the US, EU, Oman, Chile, Peru, and New Zealand, Commerce Minister Piyush Goyal said during the BT India @100 event. With India now the world’s fourth-largest economy, Goyal affirmed that the nation is on track to become the third-largest.

US tariffs on Indian exports, set to take effect August 7, will have a minimal GDP impact of 0.19%, affecting $8.1 billion in trade, says PHDCCI. The think tank has outlined a four-pronged plan to manage the fallout.

Prime Minister Narendra Modi reiterated the government’s commitment to farmers and small industries amid rising global trade tensions. Responding to Trump’s tariff hike and claims about Russian oil, India stressed economic self-reliance and denied halting energy imports from Moscow

New Delhi must absorb the tariffs temporarily without rushing into a one-sided deal