Business

UPI transactions in India cross 10b mark

India's online payments platform, the Unified Payments Interface (UPI) has achieved a remarkable milestone by crossing 10 billion transactions in a month for the first time since it was launched. According to the National Payments Corporation of India (NPCI), the total number of UPI transac...

Business

India, US discuss latest developments in area of cross-border payments

Top officials from India's Ministry of Finance and the US Department of Treasury met in New Delhi last week to discuss a range of economic and financial issues including recent developments in the area of cross-border payments.The meeting, held on August 3, 2023, was their second sub-ministerial...

Business

India’s forex earnings from tourism increases in 2022

India has witnessed a significant surge in the number of Foreign Tourist Arrivals (FTAs) during the year 2022 as compared to the previous year.According to information provided by the government in Parliament on Thursday, India recorded 6.19 million Foreign Tourist Arrivals (FTAs) in 2022, up signif...

Business

India’s defence exports reach all-time high

India's defence exports achieved a record high of Rs. 15,920 crores in FY 2022–2023, Defence Minister Rajnath Singh announced on Saturday.In response to Defence Minister Singh's announcement on Twitter, Prime Minister Modi tweeted, "Excellent! A clear manifestation of India’...

Business

13th India-US TPF meet begins today in Washington

Union Minister of Commerce and Industry Piyush Goyal will be on an official visit to New York and Washington DC from January 9-11 to participate in the India-US Trade Policy Forum meeting.According to an official press release issued on Sunday, Goyal will attend the 13th Trade Policy Forum (TPF) mee...

Business

India is setting global benchmarks for digital infrastructure: Minister

India is setting global benchmarks for digital infrastructure in fields like digital payments and telecom technology, Defence Minister Rajnath Singh has said.Speaking at the Swami Rama Himalayan University's 5th convocation in Dehradun, Uttarakhand, on Saturday, Singh also emphasized how much ex...

Business

Dhaka, Delhi agree to start talks for free trade pact soon

India and Bangladesh have agreed to start negotiations for a free trade agreement at an early date. The decision was taken in a meeting between Commerce and Industry Minister Piyush Goyal and his Bangladeshi counterpart Tipu Munshi on Thursday.During the meeting, both sides held comprehensive discus...

Business

India, GCC to resume free trade pact negotiations

India and the Gulf Cooperation Council (GCC) have announced that they would resume talks on a proposed Free Trade Agreement (FTA).Addressing a joint press conference in New Delhi on Thursday, Union Commerce and Industry Minister Piyush Goyal and GCC Secretary General Nayef Falah M Al-Hajraf announce...

Business

Indo-US economic relations driven by common interest: Piyush Goyal

Union Minister of Commerce and Industry Piyush Goyal has highlighted the significant expansion of India-U.S. economic ties, which has been fuelled by a shared interest in advancing sustainability, emerging technologies, globally resilient supply chains, and small businesses.Addressing the India-US C...

Business

India will be able to produce 25pc of its crude oil demand by 2030

India will be able to produce 25% of its crude oil demand by 2030, Union Minister of Petroleum and Natural Gas Hardeep S Puri has said.Speaking with the media at the three-day South Asian Geoscience Conference Geo India 2022 on Friday, Puri noted that the Indian petroleum industry "is at the cu...

Business

India, UK keen to conclude FTA at the earliest

India and the UK are interested to conclude the Free Trade Agreement (FTA) at the earliest and intensive discussions are underway so that it proves to be a win-win situation for both sides, the Ministry of External Affairs (MEA) said on Friday.Responding to a question on the status of the FTA at the...

Business

5th Assembly of Intl Solar Alliance to be held in India this month

The 5th assembly of the International Solar Alliance (ISA) will be held in New Delhi from October 17 to 20, the Ministry of New and Renewable Energy has announced. Ministers, missions, and representatives from 109 member and signatory countries are scheduled to attend.Union Minister for Power and Ne...

Business

India now world’s largest sugar producer, consumer

India has become the world's largest producer and consumer of sugar and its second-largest exporter, according to the Ministry of Consumer Affairs, Food & Public Distribution.More than 5000 lakh metric tonnes (LMT) of sugarcane were grown in the nation during the sugar season (October to Sep...

Business

India exports first shipment of plant-based meat products to US under vegan food category

The first consignment of plant-based meat products under the vegan food category has been exported from Nadiad in Gujarat's Kheda district to California, USA.The export was facilitated by the central government's top export promotion organization, the Agricultural and Processed Food Products...

Business

India can achieve $300b electronics mfg, exports by 2025-26

India can achieve the target of $300 billion worth of electronics manufacturing and exports by 2025-26, Union Minister of State for Electronics and Information Technology Rajeev Chandrasekhar said on Friday.“Our vision is to edge past the target of $300 bn worth of electronic manufacturing and...

Business

India, USA keen to boost economic, strategic partnership: Piyush Goyal

India and USA will continue to work towards strengthening economic relations & strategic partnership, Union Minister of Commerce and Industry Piyush Goyal said on Saturday.Addressing an event hosted by the US-India Strategic Partnership Forum in Los Angeles, Goyal said that the strong bond with ...

Business

India-Bangladesh bond forged in blood 50 years ago: Jaishankar

The bond between India and Bangladesh was forged in blood 50 years ago, External Affairs Minister S Jaishankar said on Wednesday.Speaking at an event in New Delhi to award Mujib Scholarship to the descendants of 200 Indian Armed Forces personnel, he added that under the visionary leadership of Prime...

Business

India aspires to take int’l trade to $2t by 2030: Piyush

With India's exports of goods and services having crossed USD 675 billion in the last fiscal, the nation was now aspiring to take international trade to USD 2 trillion by 2030, Union Minister of Commerce and Industry Piyush Goyal has said.By the time India celebrates the 100th anniversary of its...

Business

August GST revenue collection up 28pc

The gross GST revenue collected in the month of August stands at ₹ 1,43,612 crore, the Ministry of Finance said on Thursday.With this, the monthly GST revenues have been more than the ₹ 1.4 lakh crore mark for six months in a row now, the ministry pointed out as it released the latest data. The ...

Business

India, Brazil keen to boost bilateral trade, urge pvt sector to explore opportunities

India and Brazil have urged the private sector to explore trade opportunities in the respective markets.The potential for growth in bilateral trade figured in the 8th Brazil-India Joint Commission Meeting co-chaired by External Affairs Minister S Jaishankar and Brazilian Foreign Minister Carlos Albe...