Business

US trade representative Jamieson Greer (Image credits: AP) NEW DELHI: US trade representative Jamieson Greer claimed that India is already beginning to diversify away from Russian oil, even as the United States has imposed a 50% tariff on India over its oil imports from Russia.Speaking at the Economic Club of New York, Greer explained that…

NEW DELHI: Gold demand this Dussehra witnessed a significant decline, with sales falling 25% to 18 tonnes compared to 24 tonnes during the same festival last year, according to the India Bullion & Jewellers Association (IBJA).“Last year Dussehra was a better one as the volume of gold sold was 24 tonnes. This year, the prices…

NEW DELHI: Securities and Exchange Board of India (Sebi) has approved eyewear retailer Lenskart’s draft red herring prospectus (DRHP) to launch its initial public offering (IPO), marking the way for a major milestone in the company’s growth journey. The Gurugram-based firm plans to file its updated prospectus in the coming weeks, with a target to…

The tunnel holds strategic significance due to its proximity to Arunachal Pradesh, which borders China. (AI image for representative purpose) India may get its first underwater road tunnel under a major river in the coming years. The new road tunnel project planned under the Brahmaputra river is awaiting a nod from the Union Cabinet.The tunnel…

MUMBAI: RBI has recognised the Finance Industry Development Council (FIDC) as the official self-regulatory organisation (SRO) for NBFCs, aiming to tighten compliance, foster innovation, and boost sector development. The decision follows the June 19, 2024 press release inviting applications and the March 21 omnibus framework for SRO recognition. RBI received three applications, of which two…

The US Treasury is considering a $1 coin featuring President Donald Trump to mark the country’s 250th anniversary, a Treasury spokesperson said on Friday. In a post on X, Treasurer Brandon Beach shared a coin draft and said that the first drafts, photos shared by a user on X, honor America’s 250th Birthday. “No fake…

Union finance minister Nirmala Sitharaman (ANI photo) NEW DELHI: Finance minister Nirmala Sitharaman said on Friday there will be limited impact of external shocks on India’s growth, due to strong domestic consumption and investment.“The Indian economy is resilient and continues to grow sustainably,” she said at the Kautilya Economic Conclave.The Indian economy is estimated to…

NEW DELHI: Govt’s policy tank Niti Aayog proposed a comprehensive designed framework to enhance tax certainty and predictability for foreign investors. It recommended the introduction of an optional, industry-specific presumptive taxation scheme for foreign firms.Releasing a working paper on Friday, it also backed broader legislative clarity, administrative efficiency, robust dispute resolution mechanisms, and strategic alignment…

Markets regulator Sebi has begun discussions on bringing family offices under its oversight, as the country’s billionaires become a growing force on exchanges, people familiar with the matter said. The discussions include asking family offices to disclose their entities, assets and investment returns for the first time, as well as a separate category to regulate…

Albert Park, chief economist at the Asian Development Bank, is in India and sat down with TOI to speak on a range of issues from India’s growth to impact of Trump tariffs. Excerpts:How do you look at India against the backdrop of what’s happening geopolitically, especially the Trump tariffs?We’ve downgraded our forecast compared to April….