Business

Commerce and Industry minister Piyush Goyal will meet exporters from sectors including food processing, textiles, engineering, and chemicals in Mumbai from August 2-4 to discuss the implications of the 25% tariff announced by the United States, an industry official said on Friday.Exporters from fisheries, IT, pharma, and engineering will also participate in the meetings. A…

In another move aimed at trade enforcement, the US has unveiled a comprehensive revision of global tariff rates, targeting several countries and territories along with the European Union.The move, formalised via an executive order signed by President Donald Trump, marks a shift from negotiation-driven tariffs to a more systemic, penalty-oriented approach.The revised rates — ranging…

Fitch Ratings has revised India’s GDP growth projection for the current financial year down to 6.3%, from its earlier estimate of 6.4%, while stating that the recently announced US tariffs are likely to have only a limited direct effect on Indian corporates.In its latest India Corporates Credit Trends report released Friday, the global rating agency…

NEW DELHI: Despite US President Donald Trump’s regular rants about Apple’s manufacturing in India, company CEO Tim Cook on Thursday confirmed what is generally now more or less known – the “majority” of iPhones sold in the US in the past quarter were Made in India. China – the erstwhile production giant – is only…

Amazon shares slumped nearly 7% on Friday after the company’s cloud business, Amazon Web Services (AWS), posted slower growth than rivals Microsoft and Alphabet, prompting fresh concerns over its positioning in the AI-driven cloud race.AWS revenue rose 17.5% in the June quarter, narrowly beating Wall Street estimates, but trailing far behind Microsoft Azure’s 39% growth…

Exxon Mobil and Chevron on Friday reported their lowest second-quarter profits in four years, as lower global energy prices and a surge in oil supply from OPEC+ weighed on revenues. However, both US oil giants still managed to beat Wall Street’s earnings expectations, driven by higher production volumes.Texas-based Exxon Mobil posted a net profit of…

India’s foreign exchange reserves rose by $2.703 billion to $698.192 billion during the week ended July 25, according to the Reserve Bank of India’s latest data released on Friday.This increase comes after a decline of $1.183 billion in the previous reporting week, when total reserves had slipped to $695.489 billion, PTI reported.The latest uptick was…

India’s gross Goods and Services Tax (GST) collection rose 7.5 per cent year-on-year to Rs 1.96 lakh crore in July 2025, helped by higher domestic revenues, according to data released by the finance ministry on Friday.The gross GST mop-up in July 2024 stood at Rs 1.82 lakh crore, while the June 2025 collection was Rs…

Experts widely view Trump’s tariff move as a pressure tactic to get India to agree to US terms. The US decision to impose 25% tariffs will have minimal effect on India, sources told PTI. India is clear that duty exemptions for agricultural, dairy and genetically modified (GM) products in trade agreements is a no-go area,…

India’s manufacturing sector achieved a 16-month peak of 59.1 in July, driven by increased orders and output amidst positive market conditions, according to a Friday survey report.The HSBC India Manufacturing Purchasing Managers’ Index increased to 59.1 in July from June’s 58.4, indicating the sector’s strongest performance since March 2024.For PMI measurements, readings above 50 indicate…