Author: NNI Editor

An employee counts U.S. dollar bills at a foreign exchange counter inside a bank in New Delhi. File photo | Photo Credit: REUTERS The rupee failed to sustain its gaining momentum and fell 5 paise to 87.11 against the US dollar in early trade on Thursday (March 6, 2025) as a lower American currency and crude oil prices failed to boost sentiment amid volatile equity markets and foreign funds outflow. The local currency found support initially amid the move by the United States to delay implementation of higher tariffs on Canada and Mexico, forex traders said. Also, the Reserve Bank…

Tesla did not immediately respond to a request for comment [File] | Photo Credit: REUTERS U.S. electric carmaker Tesla has signed a lease deal to open its first showroom in Mumbai, as it moves towards a goal to sell imported cars in India, registration papers show, after it dropped similar plans last year.Tesla did not immediately respond to a request for comment.The papers show the company has signed a five-year lease from February 16, 2025, and will pay rent of about $446,000 for the first year for 4,003 square feet (372 square meters), almost the size of a basketball court.The…

President Donald Trump is granting a one-month exemption on his stiff new tariffs on imports from Mexico and Canada for U.S. automakers, amid fears that the trade war could harm U.S. manufacturers.The announcement comes after Mr. Trump spoke with leaders of the “big 3” automakers, Ford, General Motors, and Stellantis on Wednesday (March 5, 2025). Mr. Trump also said he told the automaker chief executives that they should move production to the U.S from Canada and Mexico, according to White House press secretary Karoline Leavitt.“We spoke with the big three auto dealers,” Mr. Trump said in a statement read by…

Representative Image | Photo Credit: Reuters The Reserve Bank on Wednesday (March 5, 2025) said it has appointed Ajit Ratnakar Joshi as Executive Director (ED) who will look after Department of Statistics and Information Management and Financial Stability Department.Prior to being promoted as ED, Mr. Joshi was serving as principal adviser in Department of Statistics and Information Management.He has an over three-decade experience in the areas of statistics, information technology, and cyber risk management. He has also served as member of faculty at the Institute of Development and Research in Banking Technology, Hyderabad.Mr. Joshi has also served as a member…

Prime Minister Narendra Modi addresses a post-budget webinar on boosting job creation. | Photo Credit: PMO website via PTI Capacity-building and talent-nurturing will prove to be the foundation stones of the country’s progress said Prime Minister Narendra Modi, on Wednesday (March 5, 2025), while addressing the post-budget webinar on employment via video conferencing. The theme of the webinar was “Investing in People, Economy, and Innovation,” which was attended by 29 Ministries of the Government of India, 100 panellists and more than 25,000 participants to discuss 43 articles of the recent Union Budget 2025-26. The theme of the webinar, ‘Investing in People’,…

India’s engineering goods exports to the U.S. in January increased 18% year-on-year to $1.62 billion. The U.S. remained top destination for the country’s engineering goods during January as well as in cumulative terms followed by the UAE. For the 10 months ended January this fiscal, India’s engineering exports to the U.S. increased nearly 9% to $15.60 billion ($14.38 billion), EEPC India said on Wednesday. Engineering goods exports to the UAE in January were 56% higher at $610 million. For the April-January period it was 45% higher at $6.87 billion. Among top engineering export destinations, countries that registered positive growth during…

India’s high-net-worth individuals population (HNWI) estimated at 85,698 in 2024 is expected to rise to 93,753 by 2028, reflecting the country’s expanding wealth landscape, predicts Knight Frank.Knight Frank’s Wealth Report 2025 forecasts an increase of 9.4% in India’s HNWIs — those with assets exceeding $ 10 million.According to the report, this rise highlights the country’s strong long-term economic growth, increasing investment opportunities, and evolving luxury market, positioning India as a key player in global wealth creation.In 2024, the number of Indian HNWIs increased by 6% year-on-year (YoY) to 85,698 from 80,686 in 2023. India is home to 3.7% of the…

Before President Zelenskyy exited the White House last week following a public showdown with the U.S. President and his deputy, Donald Trump was keen on a deal with Ukraine that would have given the U.S. access to Ukraine’s rare earth minerals, among other goodies. This was to have been a return gift for America’s help to Ukraine in its war against Russia. Why did Trump narrow down on this one thing? Why are rare earth minerals important? Script & Presentation: K. Bharat KumarEditing: Shibu Narayan Published – March 05, 2025 09:12 pm IST Source link

Reserve Bank of India announced open market purchase of government securities (G-Secs) for ₹1 lakh croreI.The move followed a review of current and evolving liquidity conditions, the banking regulator said. The liquidity injection will happen in two tranches: ₹50,000 crore on March 12 and the rest on March 18, the statement said.In addition, the RBI also announced it would undertake rupee/U.S. Dollar swaps n for $10 billion for a 36-month tenor on March 24, 2025.“The Reserve Bank will continue to monitor evolving liquidity and market conditions and take measures as appropriate to ensure orderly liquidity conditions” said the RBI in…

The Indian rupee strengthened for the third consecutive day, aligning with regional currencies as risk assets surged, while the “safe-haven U.S. dollar” which was seen “smiling” since early January 2024, weakened due to falling U.S. Treasury yields, analysts said.The rupee and Asian currencies also appreciated as the dollar index fell.“Expectations of earlier rate cuts, driven by decreasing inflation and concerns over economic growth [in the U.S.], further bolstered the rupee’s momentum,” said Dilip Parmar – Senior Research Analyst, HDFC Securities. “The rupee closed higher at 87.06 against the U.S. dollar, marking its best single-day gain since February 11, 2025,” as per an…