Economy and Finance

News and views related to the Indian Economy and Financial sector

Economy and Finance

India rejects Chinese company BYD Motors’ proposal to set up a four-wheeler plant over security concerns

OpIndia Staff -
Security issues were highlighted during the vetting process of BYD Motors and Megha Engineering and Infrastructures Ltd's proposal, resulting in its rejection by the Centre.
News Reports

Banks in 22 countries including Russia, UK, Germany, Israel open special Vostro accounts in Indian banks to trade in Indian Rupee

ANI -
Banks from 22 countries have opened special Rupee vostro accounts in Indian banks in order to trade in local currency
News Reports

Foxconn to pursue investment in India without Vedanta, will apply separately for establishing a chip manufacturing unit in India

OpIndia Staff -
In its official statement, the company stated that building fabs from scratch in a new geography is a challenge, but Foxconn is committed to investing in India.
News Reports

As Congress tries to attack Modi govt on inflation, data shows BJP govts keep inflation in check while it balloons during Congress rule

OpIndia Staff -
According to World Bank data, BJP kept inflation under control while during Congress rule it ballooned
News Reports

Rs 15,000 crore tax evasion detected and over 4,900 fake GST registrations cancelled in an ongoing drive

OpIndia Staff -
The two-month-long pan-India drive against fake GST registration began on the 16th of May and will end on the 15th of July.
News Reports

India saved at least USD 7 billion in foreign exchange in 14 months by importing discounted Russian crude oil

OpIndia Staff -
Indiam refiners saved over USD 7 billion in foreign exchange by increasing crude oil imports from Russia
News Reports

World Bank gives nod to $1.5 Billion financing for India’s low-carbon transition

OpIndia Staff -
India will scale up and accelerate the pace with which it is increasing its share of renewable energy. Further, it will help boost the development of green hydrogen within the country.
News Reports

More than two-thirds of Rs 2000 notes have returned to banks: RBI governor Shaktikanta Das

OpIndia Staff -
Nearly two-thirds of Rs 2000 currency notes deposited or exchanged within a month of RBI's withdrawal order.
News Reports

Google announces $10 billion investment in India’s digitisation fund, to boos the country’s digitisation drive and fintech potential

OpIndia Staff -
Google revealed plans to establish its global fintech operation centre in Gandhinagar's Gujarat International Finance Tec-City (GIFT).
News Reports

India and the US decide to terminate six trade disputes at WTO as PM Modi underscores the importance of Indo-US trade ties

OpIndia Staff -
The six World Trade Organisation disputes that will be resolved include three initiated by India and three initiated by the United States.
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