Moody’s cuts India growth forecast, CRISIL concurs

Moody’s Investors Service sharply cut India’s FY22 growth forecast on Tuesday to 9.3% from 13.7% estimated earlier and joined other global rating firms in trimming growth expectations for Asia’s second-largest economy amid a menacing second wave of Covid-19. Moody’s cautioned that risks from deeper stresses in the Indian economy and financial system could lead to […]

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Trucks carry the Covid-19 vaccines, but how many truckers are vaccinated?

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Martin Scorsese—the director who whets America’s obsession with gang movies—in his 2019 film ‘The Irishman’ inadvertently touched upon the vital cog of commodities: trucks and the American truck union Teamsters. The unsolved disappearance in 1975 of Jimmy Hoffa, President of America’s largest union Teamsters—they had enormous liquidity with pension funds and it is believed that […]

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Retail, wholesale traders incur loss of Rs 6.25 lakh crore in April 2021 due to Covid restrictions: CAIT

Around 8 crore traders in India have suffered a cumulative business loss to the tune of Rs 6.25 lakh crore during April due to multiple Covid restrictions including lockdowns, curfews, etc., enforced by state governments, according to the apex body for traders’ community, Confederation of All India Traders (CAIT). In a statement issued by CAIT, […]

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Exporters wary of losing orders with rampaging Corona second wave

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Emboldened by the impressive annual export numbers in 2020-21 (released early April), the exporters fraternity till recently was exuding confidence of trade figures reaching a new trajectory in 2021-22. However, with the new wave of Corona creating a more devastating impact especially since the middle of April, the exporters are now wary of a sudden […]

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Burgeoning Covid cases leads to diversion of LNG cargoes from India as demand dampens

Liquefied natural gas (LNG) cargoes are being diverted away from ports in India as surging coronavirus cases are hampering domestic gas demand, according to trade and shipping sources.Six LNG tankers diverted away from India since April 20, changing the destination to northeast Asia, Europe and Kuwait instead, reports Reuters.  Further diversions and reduction in shipments to India are expected this week, trade […]

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Indian seafood industry to recover in FY22: CRISIL SME Tracker

Subdued demand in both domestic and export markets will shave 25-30 per cent of the revenue of small and medium enterprises (SMEs), which account for nearly 80 per cent of the seafood industry in India, in the current fiscal year (FY21), said a report from ratings agency CRISIL SME Tracker. Domestic appetite for seafood has reduced drastically […]

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