Economy

Reuters had claimed that India rejected a quick, restricted interim trade deal that Washington had proposed, and was holding on for a better pact.

Level-1 employees will see HRA rise significantly across X, Y and Z cities if the 8th Pay Commission adopts a 2.57 fitment factor.

Goyal reacted to a report published by the news agency Reuters, which stated that India was waiting for a better deal and had rejected a speedy trade pact with the US in recent negotiations.

A 9-10% GDP growth would be required to absorb the new entrants in the workforce, according to Morgan Stanley's Chetan Ahya.

Food, transport and precious metal prices pushed June retail inflation to a six-month high, with half of India's states exceeding the RBI's 4% target.

Finance minister urges lenders to step up overseas deposit mobilisation as RBI backs swap schemes to strengthen India's external sector.

Food inflation accelerated to 5.32% in June, as compared to 4.78% in the preceding month.

Rajesh Agrawal says negotiations are progressing smoothly, with the proposed pact expected to address tariff concerns and strengthen bilateral trade.

The Commerce Secretary said India's exports continue to show healthy growth, with June exports rising 7.3% year-on-year.

Japan is now India's 10th-largest trading partner, and India is Japan's 14th. With the recent Modi-Takaichi meeting, the relationship appears to deepen even further.

The commerce minister said all Indian exports will enter the UK duty-free from July 15, while Indian professionals working in Britain for up to five years will benefit from social security exemptions.

India's first bullet train service will begin in 2027 with the Mumbai-Ahmedabad corridor launching in phases. Railway Minister Ashwini Vaishnaw also announced future high-speed rail links and major railway infrastructure upgrades across Telangana.

The week ahead will focus on US-Iran conflict, monsoon related developments, India's June retail inflation and WPI inflation. US will also release CPI and producer price inflation data for the last month. Crude oil prices are likely to be a matter of concern amid the geopolitical risks, while investors navigate a packed calendar of quarterly earnings.

Both sides have targeted to increase the bilateral trade to USD 50 billion by 2030. India's main services sector exports include telecommunications, computer and information services, and other business services.

India bought Russian crude worth EUR 4.5 billion in June, accounting for 83 per cent of its total Russian fossil fuel imports of EUR 5.5 billion, making it the second-largest buyer of Russian hydrocarbons after China.

Indian Oil, Bharat Petroleum and Hindustan Petroleum continue to follow the daily dynamic pricing system, under which pump rates can be adjusted every morning based on global crude prices and currency movements.

Selling gold to survive the moment, setting new benchmarks to survive the next world order, and not surviving at all; these are interesting ways people, firms and countries adapt under stress.

The USTR held public hearings this week as part of the consultation process before taking a final decision on the proposed tariffs.

India takes the elimination of forced labour seriously as a constitutional obligation, and as a matter of international law and principle.

According to the AP report, global oil consumption in May fell by 5.3 million bpd from a year earlier to an average of 97.9 million barrels per day.