India's 7.8% GDP growth has triggered a political row, with a former finance secretary questioning the data methodology. The IMF, however, backed India's statistical reforms, saying new IIP and PPI series should improve GDP estimates.
10872358 Mutual-Funds
The Reserve Bank of India launched a special swap facility in June 2026 to attract non‑resident Indian deposits in foreign‑currency non‑resident (FCNR(B)) accounts, later closing the window on August 31, 2026. While the scheme exceeded its $50 billion target by mobilising over $127 billion, the RBI hedged only the principal amount, leaving interest‑payment risk to the banks.
Commerce Minister Piyush Goyal urged BRICS to create a common trade platform and operationalise a Women’s Advancement Fund to help small and women‑led exporters access credit, buyers and predictable rules. He highlighted India’s progress in women’s financial inclusion and called for sector‑specific delegations, electronic documentation and expanded services trade within the bloc.
India’s commerce minister Piyush Goyal met Thailand’s deputy prime minister and commerce minister Suphajee Suthumpun in New Delhi to discuss expanding bilateral trade, investment and the review of the Asean‑India Trade in Goods Agreement (AITIGA). The talks highlighted a record $20.93 billion trade flow in FY2025 and a widening Indian trade deficit of about $10.8 billion.
SBI Ecowrap's report dismissed claims of missing funds in national accounts as unfounded fiction. It emphasized the reliability of Q1 FY27's GDP growth estimates, suggesting that revisions remain a normal statistical practice.
The new facility aims to reduce manual intervention, improve data accuracy and enable seamless electronic exchange among exporters, certifying agencies and authorities
India produced an estimated 11.99 million tonne of spices in FY25, with exports valued at $4.52 billion, according to the Spices Board
Women account for less than 10% of employees in India’s central public sector enterprises, with representation particularly weak in supervisory roles. Experts blame structural barriers, male-dominated sectors, childcare responsibilities, workplace conditions and recruitment practices, calling for reforms to hiring, promotion and retention.
10863521 Air India Phuket turbulence (1)
Addressing a national workshop in New Delhi on leveraging free trade agreements, commerce minister Piyush Goyal said India's nine FTAs currently cover economies representing about $60 trillion in GDP and provide preferential access to nearly two-thirds of global trade.
Neelkanth Mishra of the World Bank defended India's 7.8% GDP growth, asserting that claims questioning its accuracy are incorrect.
Services activity accelerated in August, but weak new-business growth and intense competition kept the sector’s expansion near its weakest level in more than four years, even as hiring hit a 15-month high.
High-level delegation may visit China next week; market access, trade deficit and investment curbs on agenda
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10859122 Reserve Bank of India (RBI)
India's current account deficit widened marginally in the April-to-June quarter from a year ago on the back of higher commodity prices and a wider trade gap, the Reserve Bank of India said on Tuesday.
Retail, wholesale trade and IT services also record strong growth, according to data released by MoSPI.
Strong tax and non-tax receipts helped keep India's fiscal position well in check through July, even as capital expenditure and subsidy spending accelerated in the first four months of FY27.
The pre-budget meetings will be chaired by Finance Secretary (Expenditure) V. Vualnam, according to a circular released today.
