Sterlite Copper CEO says plant closure has stopped India’s march to self-sufficiency

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The closure of Sterlite Copper’s Tuticorin plant, which once accounted for nearly 40% of India’s copper output, had been forced by vested interests that did not want the country to become self-sufficient in the critical industrial metal, the company’s chief executive officer said in an interview. The plant was shut down in 2018 following a police firing that […]

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Millet’s miracle comes to fore in India, world’s largest rice supplier

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An actor and cardiologist, Bharat Reddy, has always believed that you only live once. Therefore, when he stumbled upon a group of farmers in southern Indian Tamil Nadu state’s Rameshwaram, who seemed to have boundless energy, he wanted to discover their secret of youthfulness. Every now and then, they would scrunch up what looked like […]

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India may not feel the pinch of high global food inflation

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Despite concerns about rising global inflation, India’s inflation rate is likely to remain range-bound to moderate in coming months as domestic food prices are likely to come down, economists said. However, the inflation level may remain above an optimal comfort level of around 4%. The Reserve Bank of India had recently revised its projection for Consumer […]

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Central bank projects India’s economic growth at 10.5% next FY

The Reserve Bank of India (RBI) projected the country’s economic growth rate at 10.5% for the next financial year starting April 1, predicting a rebound following a year of contraction in the wake of the Covid-19 pandemic. The central bank had estimated the economic growth during the current financial year at -7.5%. India was the […]

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India Inc says budget will strengthen vision for economic self-reliance

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The Indian industry said the budgetary measures to improve the ease of doing business, drive greater investments in infrastructure and increase privatisation in sectors such as insurance and management of ports will hasten the country’s economy to recover from the pandemic. In her latest budget speech, Finance Minister Nirmala Sitharaman also emphasised on improving the healthcare infrastructure, cleaning […]

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India unveils expansionary budget to combat pandemic’s impact

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With covid pandemic in mind, Finance Minister Nirmala Sitharaman announced a plethora of allocations and tax incentives in the annual budget to expedite the economic recovery process. The Union Budget 2021-2022 definitely cheered investors and propelled the benchmark stock index (SENSEX) by 2,000 points, the largest in 10 months. The budget made substantially higher allocations for […]

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