Economy news - NewsLocker

AI Express to invest Rs 633 crore for revamp

04-02-2026 21:36 via timesofindia.indiatimes.com

The budget arm of AI had a fleet of 26 Boeing 737 NG (next generation) when the Tatas acquired it along with Air India in Jan 2022. Thanks to the fleet augmentation done by Tatas since then, along with the merger of erstwhile AirAsia India with AI Express, the airline now has a fleet of over 100 aircraft.

Rupee retreats to 90.44 after deal-fuelled surge

04-02-2026 21:31 via timesofindia.indiatimes.com

The pullback came amid a cautious global backdrop, with risk appetite weakening as global equity markets fell on concerns over AI-led disruption in the technology sector. European stocks slipped from record highs, US futures remained under pressure after a sell-off in software shares, and volatility persisted across asset classes. In commodity markets, gold extended its rebound, posting its biggest two-day gain in over 17 year.

Trouble brewing in machines for coffee chains?

04-02-2026 21:25 via timesofindia.indiatimes.com

Companies will now have to pay a 10% customs duty on machines which are largely imported from parts of Europe (primarily Italy, Spain and Romania for roasting and brewing machines) and China (for vending machines), industry executives said. The cost of machines vary depending on the model and the region of sourcing and therefore firms tend to have varied cost structures.

Techs sell-off on Dalal Street as Anthropic’s AI-app takes on Indian IT majors’ business

04-02-2026 21:17 via timesofindia.indiatimes.com

The sharp slide in sector leaders like TCS, Infosys and Wipro, also left BSE’s IT index down 5.5% at close of session. Despite the tech meltdown, sensex closed marginally higher, up 79 points or 0.1%, as strong buying in other index-heavyweights like Reliance Industries and ICICI Bank more than made up for the loss inflicted by the software exporters.

Data centres will help create jobs: Nvidia CEO

04-02-2026 21:12 via timesofindia.indiatimes.com

In the Budget, FM Nirmala Sitharaman had proposed to provide a tax holiday till 2047 to any foreign company providing cloud services to customers globally by using data centre services from India. It will, however, need to provide services to Indian customers through an Indian reseller entity. Officials said profits on the income from domestic economic activities will remain taxable as any other domestic company.

India 2nd biggest private equity hub for Warburg

04-02-2026 21:10 via timesofindia.indiatimes.com

The PE major entered Asia in 1994. It came to India two years later, just when the economic reforms under the then finance minister Manmohan Singh had started, and private equity was in its infancy. For the chief, one of the most significant developments in India in recent times was the growth of the domestic capital.

India to be energy-secure in 20-30 years: Mukesh Ambani

04-02-2026 21:00 via timesofindia.indiatimes.com

Ambani was in conversation with Larry Fink, chairman & CEO, BlackRock Inc, one of the world’s largest investment management firms with assets worth more than $11 trillion. Jio BlackRock is the Indian joint venture between RIL and BlackRock. The RIL chief also said that in the next 20-30 years, India’s GDP could leapfrog from the current level of about $4.5 trillion to about $25-30 trillion.

Crypto awareness outscoring bonds disappoints Sebi chief

04-02-2026 20:59 via timesofindia.indiatimes.com

Tuhin Kanta Pandey was speaking at the inaugural session of a program on the corporate bond market. The survey results published on Jan 20, showed that among Indian households, the awareness about cryptocurrency was at 15%. In comparison, the corresponding numbers for futures & options was 13% while for corporate bonds and Reits & InvITs it was at 10%.

India-US trade deal: How Delhi's behind-the-scenes push cracked Trump tariff wall

04-02-2026 17:00 via timesofindia.indiatimes.com

India and the US have reached a surprising trade deal, reducing tariffs on Indian goods to 18% after a year of strained relations. National Security Advisor Ajit Doval's quiet diplomacy in Washington was key, signaling India's refusal to be bullied while emphasising strategic partnership. This breakthrough eases tensions and paves the way for deeper economic ties.

If India stops buying Russian oil, what it could mean for Russia’s revenues — explained

04-02-2026 16:58 via timesofindia.indiatimes.com

US President Trump's push for India to reduce Russian oil imports could significantly impact Moscow's revenue, potentially forcing price cuts. Recent data shows a notable decline in Indian purchases, with further reductions anticipated due to refinery maintenance and limited alternative buyers like China.While India cites energy security, geopolitical pressures and alternative supply options are reshaping global oil flows.

88% individual taxpayers shift to new tax regime, CBDT chief rules out sunset clause for old regime

04-02-2026 15:30 via timesofindia.indiatimes.com

A significant 88% of individual taxpayers have embraced the new income tax regime, with presumptive tax cases seeing a 97% shift. The government confirms no sunset clause for the old system, emphasizing taxpayer choice. Policy changes, including MAT adjustments and proposed STT hikes, aim to further influence tax behavior and moderate derivatives trading.

India-US trade deal decoded: What does it mean for economy, markets & Russian oil imports? Explained in 10 charts

04-02-2026 15:07 via timesofindia.indiatimes.com

India and the US have announced a framework for a bilateral trade deal to strengthen trade ties, under which the US will cut tariffs on Indian goods to 18% from 50%. The Centre has clarified that agriculture and dairy remain protected, while sectors such as textiles, leather and gems may benefit.

ITR deadline extended for select taxpayers; Check eligibility

04-02-2026 14:06

For the majority of individual taxpayers, the July 31 due date remains unchanged. Salaried employees and those filing ITR-1 or ITR-2 will still have to submit their returns by this deadline, as no extension has been granted for this category.

Auto industry records broad-based growth; outlook remains optimistic: Report

04-02-2026 13:51

The Indian automotive sector recorded a steady climb in the first ten months of the current fiscal year, with cumulative domestic two-wheeler (2W) sales growing by 9 per cent year-on-year (YoY) to 1.5 crore units and the passenger vehicle (PV) industry posting a 7 per cent YoY increase to approximately 35.2 lakh units.

Union Budget: CREDAI flags lack of affordable housing push, warns share may shrink further

04-02-2026 13:41 via timesofindia.indiatimes.com

CREDAI expressed disappointment with the Union Budget 2026-27, stating it lacked concrete measures to boost affordable housing. The industry body warned that without policy support, the segment's share in new home launches could significantly shrink, impacting the middle class.

Tata Sierra EV launching soon: 500km+ range and Rs 20 lakh price? Here's what to expect

04-02-2026 13:26

Tata Sierra EV: The all-new Tata Sierra is already on the roads, with deliveries beginning last month. Tata Motors is now getting ready to launch the electric version of the SUV.

Over 2.5 crore Aadhaar Numbers deactivated by govt due to...

04-02-2026 11:51

In case of the death of a person, it is essential that his/her Aadhaar number is deactivated to prevent potential identity fraud, or unauthorized usage of such Aadhaar number for availing welfare benefits.

Saudi Aramco raises $4 billion: Shakes global markets, Wall Street buzzing

04-02-2026 10:38 via timesofindia.indiatimes.com

Saudi Arabia’s oil giant Saudi Aramco has successfully raised $4 billion through a bond issuance. The move highlights strong investor trust in the company's financial stability. The issuance, part of a global program, was priced in January 2026 and completed in early February 2026. Proceeds will fund capital expenditures and diversification efforts. This strengthens Aramco's financial position and boosts confidence in Saudi Arabia's economy.

Large fall in US dollar could trigger global recession shock: Report

04-02-2026 10:25

The report explained that a sharply weaker dollar would likely slow growth in the rest of the world. As global growth outside the US weakens, it would create deflationary pressures, forcing other countries to respond with monetary policy easing.

India's Top 10 Highest Selling Cars In January 2026: Tata Nexon leads the pack - Check full list

04-02-2026 10:09

India's Top 10 Selling Cars: Tata Nexon, including its EV version, topped the chart with 23,365 units sold in January 2026. This is a massive 51.75% jump from 15,397 units in the same month last year.

Switch from Russia to Venezuela crude oil possible? SBI sees $3 billion savings - explained

04-02-2026 10:00 via timesofindia.indiatimes.com

India could slash its crude import bill by nearly $3 billion annually by strategically shifting from Russian oil to Venezuelan heavy crude. A discount of $10-12 per barrel on Venezuelan oil makes this switch commercially viable, despite longer shipping routes. This potential saving highlights evolving import strategies driven by market dynamics and refining capabilities.

TDS alert! Important February compliance dates you must track– Check Full list

04-02-2026 08:59

From issuing TDS certificates to submitting mandatory statutory forms, these compliance dates play a key role in ensuring smooth and accurate tax reporting.

‘Safeguarded agriculture, dairy': Piyush Goyal hails India-US trade deal in Parliament

04-02-2026 08:31 via timesofindia.indiatimes.com

Union minister Piyush Goyal defended the India-US trade agreement in Lok Sabha, stating India successfully safeguarded its agriculture and dairy sectors after nearly a year of negotiations. The deal, finalized after intensive discussions, aims to promote Indian initiatives and enhance export competitiveness. US President Trump announced a tariff reduction to 18% for Indian products, a move welcomed by PM Modi.

Nissan Gravite set to launch on 17th Feb - Expected price, features and specs

04-02-2026 08:22

Nissan Gravite: India has already confirmed its upcoming car for the Indian market. It will be an MPV, called Gravite, and is scheduled for launch on February 17.

PF Withdrawal 75%-25% rule: What portion can be withdrawn, how much is the tax implication?

04-02-2026 08:06

You can withdraw all of your EPF balance when you retire at the age of 58.

January PMI figures: India’s services sector growth hits two-month high

04-02-2026 08:05 via timesofindia.indiatimes.com

India's services sector kicked off 2025 with robust growth, reaching a two-month high in January. Buoyant demand, driven by increasing new orders and technological investments, fueled this expansion. Businesses reported a quicker rise in activity and responded by adding staff, while future outlook sentiment also improved significantly across the broader private sector.

Musk's net worth soars past $800 billion after SpaceX‑xAI deal

04-02-2026 07:21

Musk's net worth reached roughly $852 billion, almost $578 billion higher than the world’s second-wealthiest person, Google co-founder Larry Page, whose net worth is estimated at $281 billion.

Foreign firms to meet 4 essential conditions to qualify for tax holiday benefits

04-02-2026 07:19

Four essential conditions must be satisfied by the foreign company to qualify for the exemption.

Hyundai Motor, Kia post record Jan sales in US on SUV, hybrid demand

04-02-2026 06:59

Hyundai Motor and Kia reported record vehicle sales for January in the United States, driven by strong demand for sport utility vehicles (SUVs) and hybrid models, the automakers said on Wednesday.

Gold price prediction today: Will the gold, silver rebound rally sustain? Here’s the outlook

04-02-2026 06:45 via timesofindia.indiatimes.com

Gold price prediction today: Gold and silver prices are recovering this week, but are expected to see volatility in the coming days, says Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers. He shares his outlook for gold and silver prices in the coming days:

Asian stocks today: Markets trade mixed after Wall Street's fall; Nikkei sheds over 500 points, Kospi gains 1%

04-02-2026 06:31 via timesofindia.indiatimes.com

Asian equities saw mixed performance Wednesday, with Japan's Nikkei down due to tech losses, while South Korea's Kospi edged higher. Precious metals surged as investors sought safe havens amid geopolitical tensions and dollar weakness. U.S. markets closed lower, led by a significant drop in technology stocks.

After Budget and India-US trade deal, all eyes on RBI’s repo rate decision

04-02-2026 05:49

Economists believe RBI Governor Sanjay Malhotra-led MPC is likely to pause any further policy rate cut. The Central Bank is rather set to undertake direct measures to tackle liquidity, bond stability and currency-related risks.

Sensex, Nifty post moderate gains as IT stocks plunge over ‘SaaSpocalypse’

04-02-2026 05:43

The Indian IT stocks plummeted tracking negative Wall Street cues over steeper competition and lower margins, stemming from AI advancement, after the latest launch of a legal tool by Anthropic for its Claude AI chatbot.

Rupee slips again: Currency down 22 paise to stand at 90.54 against US dollar

04-02-2026 05:24 via timesofindia.indiatimes.com

The Indian Rupee opened weaker on Wednesday. This followed a significant gain on Tuesday. The Rupee became the best performing Asian currency. This surge was due to a trade agreement reached between India and the United States. The deal is expected to boost foreign investment. This could further support the Rupee's stability.

Indian IT stocks crash: Infosys, TCS, Wipro down up to 7% - why launch of new AI tool by US startup Anthropic is driving the fall

04-02-2026 05:06 via timesofindia.indiatimes.com

Shares of major IT companies, including Infosys, Wipro, HCL Tech and Persistent Systems, slid as much as 6 per cent in early trade. The negative sentiment mirrored weakness on Wall Street, where the technology-heavy benchmark Nasdaq declined 1.4 per cent, erasing nearly $300 billion in market capitalisation across the sector.

Indian IT stocks crash: Infosys, TCS, Wipro down up to 6% - why launch of new AI tool by US startup Anthropic is driving the fall

04-02-2026 05:06 via timesofindia.indiatimes.com

Shares of major IT companies, including Infosys, Wipro, HCL Tech and Persistent Systems, slid as much as 6 per cent in early trade. The negative sentiment mirrored weakness on Wall Street, where the technology-heavy benchmark Nasdaq declined 1.4 per cent, erasing nearly $300 billion in market capitalisation across the sector.

Top stocks to buy today: Stock recommendations for February 4, 2026 - check list

04-02-2026 03:40 via timesofindia.indiatimes.com

Stock market recommendations: According to Mehul Kothari, DVP - Technical Research, Anand Rathi Shares and Stock Brokers, the top stocks to buy today (February 4, 2026) are Indian Oil Corporation, Tata Elxsi, and IFCI. Let’s take a look:

Nukes, defence, minerals: Inside Jaishankar-Rubio talks post India-US trade deal

04-02-2026 03:39 via timesofindia.indiatimes.com

External affairs minister S Jaishankar met US Secretary of State Marco Rubio in Washington, discussing expanded bilateral and multilateral cooperation, including through the Quad. The talks covered trade, defense, critical minerals, and energy, following a recently finalized trade deal. Both leaders emphasized strengthening economic ties and ensuring a prosperous Indo-Pacific region.

‘A reset and fresh start’: India–China bilateral trade hits record $155 billion

04-02-2026 02:56 via timesofindia.indiatimes.com

Bilateral trade between India and China reached a record $155 billion in 2025, marking over 12% year-on-year growth. Chinese Ambassador Xu Feihong highlighted this achievement, alongside support for India's BRICS presidency and a commitment to advancing the Global South's development agenda.