India’s external debt rises 7.1% to $617 bn in June 2022: RBI data

India’s external debt has risen by 7.1 per cent as it stood at $617.1 billion in June 2022, against $575.3 billion during the corresponding period of last year, according to data released by the Reserve Bank of India (RBI). US dollar-denominated debt remained the largest component of India’s external debt, with a … Read more

India’s economic recovery remains on course: DEA secretary Ajay Seth

India’s economic recovery remains on course, supported by key structural reforms, despite exogenous shocks and challenges, Economic Affairs Secretary Ajay Seth said on Thursday. Speaking virtually at the annual meeting of the Asian Development Bank (ADB), Seth said India’s response has emphasised supply-side reforms rather than a total reliance on demand management. … Read more

India’s CAD may have breached 3% of GDP in Q1 on surge in imports

India’s current account deficit (CAD) is expected to more than double sequentially to over $30 billion in the first quarter of financial year 2022-23 (Q1FY23) to rise above 3 per cent of gross domestic product (GDP) from $13.4 billion, or 1.5 per cent of GDP, in the previous quarter. The gap between exports and imports … Read more

India’s potash facing demand destruction as world reels from high prices

India, one of the world’s biggest potash importers, is facing demand destruction due to high prices and the loss of critical supplies from Belarus and Russia. Potash consumption will probably fall to 3 million tons in the year through March 2023 from 5 million a year earlier, according to P.S. Gahlaut, … Read more

India’s approach to Ukraine war will continue to be human-centric: UN envoy

India has repeatedly called for a prompt cessation of hostilities in the Ukraine conflict and the need to resolve this conflict through dialogue and diplomacy as it is a matter of extreme concern for the international community, said Ruchira Kamboj, country’s Permanent Representative to the United Nations on Tuesday. During the UNSC … Read more

800k viewers tuned into India’s first live-streaming of SC proceedings

In a landmark moment in the history of the Indian judiciary, the Supreme Court on Tuesday live-streamed on YouTube its proceedings for the public to watch. The proceedings were watched by more than eight lakh viewers. This step will go a long way in overcoming the barriers of distance and will … Read more

Spike in oil price is breaking India’s back, says Jaishankar in US

India, which has a USD 2,000 per capita economy, is concerned over the spike in the price of oil due to the Russia-Ukraine conflict and it is “breaking our back,” External Affairs Minister S Jaishankar said on Tuesday. Addressing a joint press conference with US Secretary of State Antony Blinken after holding … Read more