NEW DELHI: The government on Wednesday raised import tariffs on gold and silver to 15% from 6%, according to Reuters. The move is aimed at curbing precious metal imports and easing pressure on India’s foreign exchange reserves.The sharp increase in duties comes just days after Prime Minister Narendra Modi urged Indians to avoid buying gold…
NEW DELHI: The ongoing West Asian crisis is a “live balance of payments stress test” for the country – directly impacting inflation, the exchange rate and the current account, chief economic advisor V Anantha Nageswaran said at the CII Annual Business Summit Tuesday. “Managing the current account credibly, financing it and preventing further currency depreciation…
NEW DELHI: Commerce and industry minister Piyush Goyal on Tuesday said the ongoing global challenges should act as a “wake-up call” for Indian industry to become self-efficient and productive, make better use of free trade agreements, and reduce dependence on imports to strengthen the economy.Amid trying times, India has an opportunity to outshine others, he…
MUMBAI: Mitsui OSK Lines, which runs one of the largest shipping fleets globally, on Tuesday said that container rates may rise further as there is a gap between freight rates and increase in cost as bunker oil prices have doubled in Asia.During an interaction with TOI, the Japanese company’s global president and CEO Jotaro Tamura…
NEW DELHI: India’s entry-level smartphone market suffered a collapse in the first quarter of 2026. Rising component costs and weakening consumer demand reshaped the country’s handset landscape, according to new data from IDC.India’s overall smartphone shipments declined 4.1% year-on-year to 31 million units in Q1 2026, but the steepest pressure was concentrated in devices priced…
BENGALURU: India’s Gen Z workforce is embracing what experts describe as “portfolio careers” – balancing multiple professional identities and income streams simultaneously. New research from LinkedIn shows that 75% of Gen Z entrepreneurs in India now manage multiple income streams, significantly higher than the 62% among Gen X entrepreneurs. The findings point to a growing…
NEW DELHI: Retail inflation, based on consumer price index (CPI), inched up for the third consecutive month to 3.5% in April from 3.4% in March on account of acceleration in food prices, data released by NSO showed Tuesday. The food index rose 4.2% in April, above 3.9% in the preceding month. Fuel inflation decelerated sharply…
MUMBAI: As tensions prevailing in West Asia rattled global markets, sending crude prices soaring and the Indian rupee to new lows, sensex lost another 1,456 points (1.9%) to close below the 75K mark, at 74,559 points.In two sessions this week, sensex has lost nearly 2,800 points or over 3% while in four sessions since May…
The District Consumer Disputes Redressal Commission, Chandigarh has held that the Employees’ Provident Fund Organisation (EPFO) cannot cite software glitches or technical issues to justify a nearly 10-year delay in transferring provident fund (PF) accumulations from an employee’s old account to a new one.The commission partly allowed a complaint filed by employee Rajesh Garg and…
Kotak Mahindra Bank founder Uday Kotak said India must cut its reliance on foreign capital and build a strong domestic pool of long-term risk capital to become truly self-reliant.Speaking at an event organised by the Confederation of Indian Industry, Kotak said a “truly Aatmanirbhar” nation is one that “does not need to depend on somebody…