Finance minister Nirmala Sitharaman on Tuesday defended the 137-day hiatus in fuel price revision, saying the disruption in supply chains and the resultant increase in global oil prices due to the war in Ukraine was a "couple of weeks" phenomenon resulting in the record hike in petrol and diesel prices in last 8 days.
Domestic ratings agency Icra on Tuesday cut its FY23 real GDP growth estimate by a sharp 0.8 per cent to 7.2 per cent, primarily driven by the fallout of Russian invasion of Ukraine. Its chief economist Aditi Nayar attributed the downward revision to elevated commodity prices and also fresh supply chain issues arising from the conflict in Ukraine.
Adopting the same template would mean the GCC nations may largely extend their market access to Indian goods and services barring specific items that have cultural and religious sensitivities of the region.
India's economy is poised for sustained high growth in the coming years, he said, while flagging another Covid-19 wave and the Russia-Ukraine as possible risks.
Multiple ministries are in discussions to devise a plan to export wheat amid high prices and tight supplies because of the conflict.
The free trade agreement between India and the UAE has opened huge opportunities and businesses of both countries should look at taking the bilateral trade to $250 billion by 2030, commerce and industry minister Piyush Goyal said on Monday.
Tesla Inc will seek investor approval to increase its number of shares to enable a stock split in the form of a dividend, the electric-car maker said on Monday, sending its shares up about 5%. The plan came as the company suspended its Shanghai factory amid Covid-19-related lockdown measures and its artificial intelligence head took a sabbatical as the company aims to achieve full self-driving capability this year.
A Delhi court on Monday allowed the CBI to collect the handwriting sample of former managing director and chief executive officer of National Stock Exchange (NSE) Chitra Ramkrishna in connection with the NSE co-location case. Special Judge Sanjeev Aggarwal also extended Ramkrishna's judicial custody till April 11.
China's state-run Sinopec Group has suspended talks for a major petrochemical investment and a gas marketing venture in Russia, sources told Reuters, heeding a government call for caution as sanctions mount over the invasion of Ukraine.