Category: Economy

  • 18 Sep

    Gold ETFs Attract Highest Inflow in 16 Months in August

    Gold ETFs attracted Rs 1,028 crore in August 2023, the highest inflow in 16 months. This is despite continued hikes in interest rates in the US, which have led to a slowing down in growth rate there. The factors driving inflows into gold ETFs include its role as a safe haven asset, hedge against inflation, and diversification tool. The outlook for gold ETFs is positive in the near term, given the current macroeconomic environment. Investors who are looking to add a safe haven asset to their portfolio and/or hedge against inflation may consider investing in gold ETFs. However, it is important to note that gold is a volatile asset and investors should carefully consider their risk tolerance and investment objectives before investing.

  • 16 Sep

    Former RBI Governor C Rangarajan Says India Needs to Grow Fast to Increase Per Capita Income

    Former RBI Governor C Rangarajan says India needs to grow fast to increase per capita income and become a developed economy. He says India needs to achieve 7% growth continuously over the next two decades, absorb new technologies, develop a skilled workforce, and create jobs.

  • 15 Sep

    Yatra Online’s IPO Receives Muted Response on Day 1

    Yatra Online's IPO received a muted response from investors on the first day of bidding, with only 11% of the issue subscribed. Retail investors were the most supportive, while high networth individuals and qualified institutional buyers have yet to start putting in bids.

  • 15 Sep

    Consumer durables output contracts in India, but hopes are high for festive season

    The output of consumer durable goods in India contracted in July, even as industrial growth hit a five-month high. However, hopes are high that the festive season will boost demand.

  • 12 Sep

    India’s Industrial Output Grows 5.7% in July, Highest in Five Months

    the industrial output growth in July is a positive sign, but economists will be closely monitoring the manufacturing sector in the coming months to get a better sense of the overall health of the Indian economy.

  • 12 Sep

    Indian shrimp production to decline by 15-20% in FY23

    Indian shrimp production is set to decline by 15-20% in the current fiscal year due to a sharp fall in global prices and sluggish exports. The decline in production is being attributed to a number of factors, including a glut in the global shrimp market, economic problems in major importing countries, and increased competition from other shrimp producers. The aquaculture farmers are stocking less in their farms due to the drop in prices, and the seafood export target of $9.1 billion for the current fiscal year appears far-fetched. However, the passing of the Coastal Aquaculture Authority (Amendment) Bill 2023 has come as a huge boost to the seafood sector, and the industry hopes that the passage of the bill will help to boost the growth of the seafood sector in India.

  • 11 Sep

    India and Saudi Arabia Discuss Settling Trade in Local Currencies

    India and Saudi Arabia have begun discussions on settling their trade in local currencies. This would help to reduce the volatility of exchange rates and make it easier for businesses to trade with each other. The two countries have also agreed to expedite the negotiations on the India-Gulf Cooperation Council Free Trade Agreement and strengthen co-operation in the fintech space.

  • 11 Sep

    Pulses sowing lower due to monsoon deficit

    The sowing of pulses has been lower than last year due to a 11% monsoon deficit in the country. As of September 8, the total area sown to pulses was 119.91 lakh hectares, down from 131.17 lakh hectares in the same period last year. The states with the lowest pulses sowing are Madhya Pradesh, Karnataka, and Maharashtra. The government is monitoring the situation and will take appropriate measures to ensure that there is no shortage of pulses in the coming months.

  • 11 Sep

    FCI sells 1.66 lakh tonnes of wheat, 17,000 tonnes of rice in 11th e-auction

    The Food Corporation of India (FCI) sold 1.66 lakh tonnes of wheat and 17,000 tonnes of rice from the central pool through the 11th e-auction held on September 6, 2023. The auction was conducted to offload additional 50 lakh tonnes of wheat and 25 lakh tonnes of rice from the central pool in the open market to bulk buyers to contain cereal prices. The weighted average selling price of wheat was Rs 2,169.65 per quintal and that of rice was Rs 2,956.19 per quintal. The government interventions, including OMSS and ban on wheat export, have had a moderating effect on wheat prices. However, rice prices are still ruling higher.

  • 11 Sep

    Gold prices dipped marginally on September 11 as the US Dollar weakened

    Gold prices in India edged lower on September 11, tracking a decline in the US Dollar. The fall in gold prices was supported by the weakening of the US Dollar and the ongoing buying spree by China's central bank. Gold prices are expected to remain volatile in the near term, but the ongoing buying spree by China's central bank could support gold prices in the long term.