Net foreign direct investment (FDI) into India hit a fresh high of $43.366 billion in the year ended March 2021 as it crossed the previous year's high of $43.013 billion. India's central bank, the Reserve Bank of India said that while the direct investment to India in FY21 stood at...
India's Stock Market Sees Largest Two-Day Gain
On Friday, India announced an unexpected and deep cut in corporate tax rates, amounting to roughly $20 billion in reductions at the current size of the economy. The government slashed the corporate tax rate for Indian companies to 22 percent from 30 percent with effective tax rate lowered to 25.2 percent...
Action Oriented Goyal Adds Commerce to Railways
One of the most action-oriented leaders in the Modi government has now been given charge of the Ministry of Commerce and Industry, in addition to that of the Indian Railways. Born in Mumbai on June 13, 1964, Piyush Goyal is a CPA and holds a degree in Law. Growing up...
Goldman Sachs Upgrades Outlook on India
With the strong possibility of a re-election for the Modi administration in India’s national elections that begin in April, Goldman Sachs is confident about India’s short-term economic prospects. The firm raised its outlook on India to “overweight” on high foreign fund inflows. Monetary easing by India's central bank, the Reserve...
India Receives $540 Billion in FDI for FY18
Foreign direct investment (FDI) during the previous fiscal grew 18 percent to over $540 billion, data from India's central bank, the Reserve Bank of India , evidenced. FDI increased by over $60 billion including revaluation of past investments, during 2017-18 to reach $540 billion in March 2018 at market value, according...
India's Manufacturing Sector Records Strong Growth in Q2
An analysis of 2,700 listed private sector non-financial companies conducted by India's central bank, the Reserve Bank of India, indicated that the textile and iron and steel segments maintained their pace of sales growth in the second quarter of 2018-19 as compared to the year-ago period. "The manufacturing sector sales growth...