Economy

Barter trade returns as India-China reopen ancient Silk Route to Tibet

Updated : Aug 2, 2026

Ancient Silk Route to Tibet reopens: India-China trade through Shipki La resumes after six years

Himachal's Revenue and Horticulture Minister flagged off 16 traders after presenting traditional Khataks (ceremonial scarves) along with their horses towards Shipki village in Tibet

Jefferies said inflation risks extend beyond crude oil, with prolonged shipping disruptions likely to raise LNG, freight, insurance and broader supply-chain costs.

Updated : Aug 2, 2026

Geopolitical tensions could spark inflation beyond oil prices, warns Jefferies

Escalating geopolitical tensions could trigger a broader inflation shock that extends far beyond rising crude oil prices, according to a Jefferies report. The brokerage warns that disruptions to shipping routes, freight and supply chains, coupled with rising bond yields and changing investor sentiment towards AI spending, could reshape the global market outlook.

The facility will remain open for fresh FCNR(B) deposits until September 30, 2026, while the concessional arrangements for OFCBs and ECBs will continue until December 31, 2026.

Updated : Aug 1, 2026

FCNR(B) deposits contribute over 90% of $40.82 bn raised under RBI's forex swap scheme

According to data released by the central bank on Saturday, total inflows under the scheme reached $40.816 billion as of July 31, reflecting sustained participation by banks and non-resident depositors. Among the various funding channels, FCNR(B) deposits contributed $36.725 billion, making up nearly 90% of the total mobilisation

Gross GST revenue from domestic transactions increased 10.1% to ₹1.45 lakh crore in July from ₹1.31 lakh crore a year ago.

Updated : Aug 1, 2026

GST collections jump 15.4% to ₹2.11 lakh crore in July, import tax revenues surge nearly 29%

India's GST collections continued their strong momentum in July, with gross revenues rising 15.4% year-on-year to ₹2.11 lakh crore, driven by robust domestic collections and a sharp jump in tax receipts from imports. The latest data also points to broad-based revenue growth across most states, reflecting resilient consumption and improved tax compliance.

SBI Research estimates that India's GDP growth for the April-June quarter could surpass 7%, outperforming expectations even as the global economy remains clouded by geopolitical tensions and slowing growth in the US.

Updated : Aug 1, 2026

RBI likely to keep repo rate unchanged in August as inflation, global risks outweigh strong GDP growth: SBI Research

The Reserve Bank of India is likely to keep the repo rate unchanged at its August 3-5 Monetary Policy Committee (MPC) meeting despite stronger-than-expected economic growth, according to SBI Research. The report cites persistent inflation, global uncertainties and currency-related risks as key reasons for maintaining the status quo.

Updated : Aug 1, 2026

Petrol, diesel prices today, August 1: Check latest rates in Delhi, Mumbai, Chennai, Kolkata & more

Petrol and diesel prices have remained steady since May 25, when state-owned Oil Marketing Companies (OMCs) raised petrol prices by ₹2.61 per litre and diesel prices by ₹2.71 per litre.

While LPG remains the most used cooking fuel for many Indian households, CNG and PNG are also emerging as much more stable and cost-effective alternatives.

Updated : Aug 1, 2026

LPG, CNG, PNG rates today (August 1): Commercial LPG cylinder rates hiked, others stable. Check latest prices in Delhi, Mumbai and other cities

Domestic LPG, CNG and PNG prices continue to remain largely stable for households across India despite the West Asia conflict involving the US and Israel on one side and Iran on the other nearing an end.

Under the India-Singapore Double Taxation Avoidance Agreement (DTAA), the applicable withholding tax is generally 10% of the gross interest amount, subject to treaty conditions.

Updated : Jul 31, 2026

Singapore tax clarification clouds returns from leveraged FCNR deposits: Report

Singapore's tax authority has clarified that leveraged FCNR(B) deposit structures may attract withholding tax on loan interest, raising concerns over returns for NRIs.

World Bank has a warning for Indian airports

Updated : Jul 31, 2026

World Bank warns of increasing flight disruptions at Delhi airport but the reason's one you might not have expected

World Bank warns that in the coming years Indian airports are likely to see an increasing number of instances of operation disruptions.

This was the 4th special CCS meeting on the West Asia crisis.

Updated : Jul 30, 2026

'Focus on renewables to ensure energy independence': PM Modi tells CCS amid Hormuz tensions

The Cabinet Secretary briefed the CCS on the geopolitical situation and the steps taken by various ministries and departments to ensure uninterrupted supplies of petroleum products, including LNG, LPG and fertilisers

For the current Ethanol Supply Year (November 2025 to October 2026), the government said OMCs are procuring ethanol at around ₹71 per litre

Updated : Jul 30, 2026

BT Explainer | If ethanol costs ₹71/litre, why is the government blending it with petrol?

If ethanol costs around ₹71 per litre, why is India blending it with petrol instead of relying entirely on conventional fuel? The Centre says the answer lies in reducing crude imports, shielding consumers from oil price shocks, and supporting farmers

The data from TransUnion CIBIL shows, Maharashtra and Tamil Nadu, which have for long been the traditional strongholds of credit uptake, still remain among the largest credit market.

Updated : Jul 30, 2026

Move over Maharashtra, Tamil Nadu -- UP, MP and Bihar are big drivers of India’s credit growth

According to TransUnion CIBIL, the number of Indians who have taken a loan at least once has more than doubled between March 2017-2026 and the share of women among the active credit population has notably increased.

Kotak Mahindra Bank founder and director Uday Kotak

Updated : Jul 30, 2026

Uday Kotak's warning on US bond yields: 'Players may take note of the new conductor'

Achilles' heel for global finance is the US bond yield, says Uday Kotak

Only two nations consume the bulk of coal globally

Updated : Jul 30, 2026

These two countries consume 70% of the world’s coal…and it’s who you think it is

The rise in global consumption in 2025 was mainly driven by rapidly industrialising economies in Southeast Asia, while the United States also saw a reversal in coal use during the year.

India's manufacturing push is gathering pace with fresh investments in semiconductors, electronics, space and clean mobility.

Updated : Jul 29, 2026

Semicon 2.0, space, hydrogen trains: How manufacturing push is gaining pace, shows July's economic review

The Department of Economic Affairs' Monthly Economic Review for July 2026 noted that while geopolitical tensions in West Asia, elevated commodity prices and global supply-chain risks continue to cloud the economic outlook, India's manufacturing sector has maintained momentum, supported by policy reforms and investments in high-technology industries.

Among the major states, Maharashtra recorded one of the sharpest increases, with toll plazas rising from 59 in 2021-22 to 105 in 2025-26.

Updated : Jul 29, 2026

India's NH toll network expands 65% in five years; Rajasthan leads

The government also informed Parliament that it has temporarily discontinued toll collection at seven National Highway fee plazas across Andhra Pradesh, Gujarat, Himachal Pradesh, Jharkhand, Karnataka and Kerala. The reasons include public agitation and law-and-order issues, landslides and other natural calamities, highway damage due to heavy rainfall, and highway widening works.

Rajasthan ranked second with ₹7,317.51 crore, followed by Maharashtra (₹7,053.71 crore) and Gujarat (₹6,352.38 crore)

Updated : Jul 29, 2026

₹8,862 crore in tolls! This state emerged as India's biggest highway toll revenue generator

Overall, toll collections on National Highways and Expressways continued to grow, rising from ₹61,408.15 crore in 2024-25 to ₹68,483 crore in user fee collections during 2025-26

Indian manufacturers are also expected to accelerate automation across the value chain over the next five years

Updated : Jul 29, 2026

To stay ahead, Indian manufacturers are embracing AI

PwC India study finds 59% of manufacturers expect AI to drive strategic growth over the next five years, with automation set to transform factories from the shop floor to customer service

Experts believe the RBI's strategy is effectively a pre-emptive move to reduce balance of payments risks while maintaining adequate liquidity in the banking system.

Updated : Jul 29, 2026

RBI's $100-bn strategy: Can FCNR deposits and ECBs shield India from an oil shock?

The RBI and the government are betting on foreign capital inflows rather than aggressive rate hikes to protect India's economy from rising crude oil prices. A potential $80-100 billion pipeline through FCNR deposits, ECBs and bond index inclusion could strengthen the rupee, ease liquidity pressures and support the bond market.

The report noted that the US-Israeli war on Iran has pushed up global crude oil prices, increasing the risk of higher inflation and slower economic growth.

Updated : Jul 28, 2026

Weak demand, higher oil prices may drag India's GDP growth to 6.6% this fiscal, says poll

India imports around 90% of its crude oil requirements, making it particularly vulnerable to sustained increases in energy costs.

Polymer notes approved for field trials in India — but paper currency isn't going anywhere

Updated : Jul 27, 2026

Finance Ministry approves RBI proposal for ₹10, ₹20 plastic notes, pilot phase underway

The government has approved a Reserve Bank of India proposal to introduce one billion pieces each of ₹10 and ₹20 polymer banknotes, first for field trials and then for regular issuance if those trials succeed

Economy

Ancient Silk Route to Tibet reopens: India-China trade through Shipki La resumes after six years

Geopolitical tensions could spark inflation beyond oil prices, warns Jefferies

FCNR(B) deposits contribute over 90% of $40.82 bn raised under RBI's forex swap scheme

GST collections jump 15.4% to ₹2.11 lakh crore in July, import tax revenues surge nearly 29%

RBI likely to keep repo rate unchanged in August as inflation, global risks outweigh strong GDP growth: SBI Research

Petrol, diesel prices today, August 1: Check latest rates in Delhi, Mumbai, Chennai, Kolkata & more

LPG, CNG, PNG rates today (August 1): Commercial LPG cylinder rates hiked, others stable. Check latest prices in Delhi, Mumbai and other cities

Singapore tax clarification clouds returns from leveraged FCNR deposits: Report

World Bank warns of increasing flight disruptions at Delhi airport but the reason's one you might not have expected

'Focus on renewables to ensure energy independence': PM Modi tells CCS amid Hormuz tensions

BT Explainer | If ethanol costs ₹71/litre, why is the government blending it with petrol?

Move over Maharashtra, Tamil Nadu -- UP, MP and Bihar are big drivers of India’s credit growth

Uday Kotak's warning on US bond yields: 'Players may take note of the new conductor'

These two countries consume 70% of the world’s coal…and it’s who you think it is

Semicon 2.0, space, hydrogen trains: How manufacturing push is gaining pace, shows July's economic review

India's NH toll network expands 65% in five years; Rajasthan leads

₹8,862 crore in tolls! This state emerged as India's biggest highway toll revenue generator

To stay ahead, Indian manufacturers are embracing AI

RBI's $100-bn strategy: Can FCNR deposits and ECBs shield India from an oil shock?

Weak demand, higher oil prices may drag India's GDP growth to 6.6% this fiscal, says poll

Finance Ministry approves RBI proposal for ₹10, ₹20 plastic notes, pilot phase underway

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