Economy news

• Ex-CFO of RCap, Amit Bapna, held in connection with ADAG probe

  04-07-2026 22:32 via timesofindia.indiatimes.com
  
  The Central Bureau of Investigation (CBI) has apprehended Amit Bapna, former CFO of Reliance Capital Ltd, as part of its probe into Reliance ADA Group matters. Authorities allege Bapna, a key financial decision-maker, approved loans to intermediary firms despite knowing it violated RBI guidelines. Funds were reportedly diverted to various Reliance group entities, causing losses to banks and gains for the accused.
  
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• India-UK trade pact: Centre notifies rules for determination of origin of goods

  04-07-2026 17:48 via timesofindia.indiatimes.com
  
  India's Finance Ministry has finalized rules for goods eligible for benefits under the India-UK trade pact, set to begin July 15. This Comprehensive Economic and Trade Agreement (CETA) will grant duty-free access to 99% of Indian exports, boosting sectors like textiles and engineering. Exporters must now provide a certificate of origin to claim these tariff advantages, ensuring the pact's integrity and preventing misuse.
  
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• 'Criticism is welcome, rumours are not': Puri on E20 fuel buzz, engine damage claims

  04-07-2026 17:29 via timesofindia.indiatimes.com
  
  Union Minister Hardeep Singh Puri has addressed social media concerns regarding ethanol-blended fuel, dismissing claims of pest attraction and engine damage. He emphasized that ethanol usage is a century-old concept and highlighted past government efforts. Recent tests by ARAI and OEMs indicate a minor drop in fuel efficiency with E20, while Toyota clarified a specific vehicle issue was due to fuel contamination, not ethanol.
  
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• Chip by chip: India now world's second largest phone maker; PM Modi lays out 'Make in India' electronics roadmap

  04-07-2026 16:27 via timesofindia.indiatimes.com
  
  India has ascended to become the world's second-largest mobile phone manufacturer and exporter, Prime Minister Narendra Modi announced, underscoring the nation's commitment to building a comprehensive electronics and semiconductor ecosystem.This strategic push, encompassing chip design, fabrication, and packaging, is a pivotal step towards a 'Viksit Bharat' and represents the next phase of the 'Make in India' initiative, with the country's youth poised to lead future technological advancements.
  
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• Is E20 fuel safe for your vehicle? Here's what experts say

  04-07-2026 15:53 via timesofindia.indiatimes.com
  
  Concerns surrounding E20 ethanol-blended petrol are being addressed by industry experts, who assure its safety for all vehicles, including older models. Years of rigorous scientific testing and consultations with automakers have confirmed its efficacy. This nationwide rollout aims to significantly reduce India's reliance on crude oil imports, offering a more sustainable and secure energy future while maintaining vehicle performance and environmental benefits.
  
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• Centre raises onion procurement price by 13% — here's why

  04-07-2026 15:16 via timesofindia.indiatimes.com
  
  The government has increased its onion procurement price to Rs 2,125 per quintal, a 13% jump, to boost farmer earnings and accelerate buffer stock building. This marks the fifth revision this season amidst sluggish procurement. Despite this, domestic availability remains stable with adequate stocks and steady wholesale arrivals. Speculative buying is noted, but consumer demand is subdued.
  
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• Beyond Hormuz: What HPCL Rajasthan Refinery Limited means for India's energy future

  04-07-2026 12:55 via timesofindia.indiatimes.com
  
  India is bolstering its energy security following the Strait of Hormuz disruption. Prime Minister Modi inaugurated the HPCL Rajasthan Refinery, a crucial step towards self-reliance for a nation heavily reliant on oil imports. This project, alongside other development initiatives, aims to strengthen manufacturing, boost exports, and enhance resilience against future supply shocks, underscoring India's commitment to national interest and citizen welfare.
  
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• Mumbai-Ahmedabad bullet train: India to get its 1st high-speed rail service by 2027; check key features, travel time & more

  04-07-2026 10:07 via timesofindia.indiatimes.com
  
  India's first bullet train is set to begin its journey by 2027, with the Surat to Bilimora section slated for inauguration. Union Railway Minister Ashwini Vaishnaw announced that construction on the Mumbai-Ahmedabad corridor has surpassed 80% completion. This ambitious project, utilizing Japanese Shinkansen technology, aims to drastically reduce travel time between key cities, paving the way for future high-speed rail expansion across the nation.
  
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• Year after calling India 'dead economy', Trump says country 'doing very well at 7-8%'

  04-07-2026 09:23 via timesofindia.indiatimes.com
  
  US President Donald Trump has lauded India's robust economic growth, a significant departure from his past criticisms. He cited India's 7-8% growth as an example of strong performance that shouldn't be stifled by high interest rates. This shift comes as India and the US are nearing a bilateral trade agreement, with negotiations gaining momentum.
  
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• India eyes $1 trillion exports milestone: Amid global turmoil, which sectors will drive growth? Decoded

  04-07-2026 09:01 via timesofindia.indiatimes.com
  
  During the April-June quarter, exports saw a 15% growth in merchandise shipments and around 11% in services exports. Which sectors have contributed to exports growth? What role has the PLI scheme played and will trade deals help expedite growth? We decode:
  
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• India allows four Chinese firms into critical power tenders; Congress attacks move

  04-07-2026 08:00 via timesofindia.indiatimes.com
  
  India has permitted four Chinese power equipment manufacturers with local production to bid on critical government power projects for two years. This relaxation, aimed at accelerating power network expansion and renewable energy integration, follows a power ministry request. The move, however, has drawn sharp criticism from the Congress, citing ongoing border disputes and trade deficits with China.
  
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• 'The Trump economy is soaring': US Prez cites stock market rally, tax cuts ahead of I-Day

  04-07-2026 07:24 via timesofindia.indiatimes.com
  
  US President Donald Trump declared the American economy is "soaring," citing record stock market highs, increased exports, and investment as proof of a new growth era. He attributed these gains to his administration's tax cuts and trade policies, which he claims put more money in Americans' pockets and boosted domestic manufacturing. Trump asserted that the nation is entering a "Golden Age" of prosperity and opportunity.
  
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