NEW DELHI: Biocon on Thursday reported a 95 per cent decrease in its consolidated net profit at Rs 31 crore in the June quarter. The Bengaluru-based firm posted a net profit of Rs 660 crore in the April-June quarter of the last fiscal. Total revenue declined to Rs 4,022 crore in the June quarter as…
FICCI president Harsha Vardhan Agarwal on Thursday called for urgent and bold economic reforms to strengthen India’s industrial base and services sector, In response to the US imposing an additional 25% import tariff on Indian goods.The latest move from Washington takes the total tariff burden on Indian imports to 50%, sparking concerns across domestic export-facing…
The Chamber of Trade and Industry (CTI) has voiced concerns over the US’s latest decision to impose an additional 25% tariff on Indian goods, taking the total duty to 50%. The body warned of serious consequences for India’s export driven businesses.CTI chairman Brijesh Goyal wrote to PM Narendra Modi, calling for immediate and strategic action,…
India’s merchandise imports are set to grow at more than double the pace of exports in the current financial year, according to the Reserve Bank of India’s latest economic outlook.The central bank released the Survey of Professional Forecasters on Macroeconomic Indicators (95th Round) on Wednesday.According to the apex bank’s findings, “Merchandise exports and imports are…
Fuel supply from Nayara Energy’s Vadinar refinery has been severely disrupted after shipowners, wary of European Union sanctions, stopped lifting products from the facility, forcing the Rosneft-backed company to seek government help to arrange alternate shipping support.Nayara, which used vessels to supply petrol and diesel to consumption hubs along India’s west coast and as far…
Stocks rose on Wall Street on Thursday, brushing aside fresh worries over US President Donald Trump’s latest round of tariffs that kicked in on dozens of countries. The S&P 500 gained 0.5% in early trading, hovering just below its all-time high set last month while Dow gained 200 points and Nasdaq climbed 1%. DJIA was…
The government may prioritise targeted support for sectors such as textiles and chemicals, those expected to be severely affected by the new 50 per cent US tariffs, under its export promotion mission, industry sources said on Thursday.As per the news agency PTI, the matter was taken up during consultations held by the commerce ministry with…
President Donald Trump has hit India with a 50% tariff on its exports to the US, punishing New Delhi for continuing to buy Russian crude. He accuses India of “funding Russia’s war machine” and vows more penalties if Prime Minister Narendra Modi doesn’t halt oil imports from Moscow.This follows Trump’s prior 25% tariff on Indian…
Facing the Trump squeeze, India is already recalibrating its foreign relations. US President Donald Trump has imposed a 50% tariff on Indian imports, accusing India of funding Russia’s war on Ukraine through its continued oil purchases. The shock escalation, delivered via executive order, represents the steepest tariff the US has ever placed on a major…
Modi’s discussions with Lula have gained additional importance following Trump’s implementation of 50% tariffs. (File photo) Prime Minister Narendra Modi is scheduled to talk to Brazil’s President Luiz Inacio Lula da Silva on Thursday and plans to visit China in August for the first time since 2018, amid deteriorating relations with the United States.Brazilian President…
