Economy news

• India’s forex demand shifts beyond metros as tier-2, tier-3 cities take 53% share

  15-08-2026 17:43 via timesofindia.indiatimes.com
  
  Emerging from the shadows of larger cities, smaller Indian towns now contribute to over 50% of foreign exchange demand. The appetite for leisure travel fuels this growth, with travelers aged 25 to 40 at the forefront. The US dollar continues to dominate as the most preferred currency, while digital forex transactions see a promising annual increase.
  
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• Smartphone to be locked for missed EMI? RBI’s new rules for lenders, defaulting borrowers explained

  15-08-2026 14:20 via timesofindia.indiatimes.com
  
  The Reserve Bank of India (RBI) has laid out some guidelines for lenders on recovery of loans, and whether they can block or lock the device that has been purchased via EMI financing. This new framework will come into effect from January 1, 2027.
  
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• Anthropic's IPO may hinge on a $200 billion revenue bet: Here's what investors are looking at

  15-08-2026 13:36 via timesofindia.indiatimes.com
  
  Anthropic forecasts remarkable revenue growth by the year 2028, with projections estimating earnings reaching between $190 billion and $200 billion. Investors closely analyze other tech companies like Palantir and SpaceX in light of these figures. However, Anthropic's current expenditures are straining profit margins, necessitating greater operational efficiency and scalability to enhance its overall valuation.
  
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• Nvidia’s SpaceX bet: Chipmaker discloses $21 billion stake in Elon Musk-owned rocket firm

  15-08-2026 12:30 via timesofindia.indiatimes.com
  
  Nvidia owns about 123 million shares of SpaceX, estimated at around $17 billion. Additionally, the chip giant invested in Elon Musk's xAI prior to its merger with SpaceX. As part of their collaboration, SpaceX will employ Nvidia's technology exclusively for its data centers. Furthermore, Nvidia has pledged over $100 billion towards AI companies and infrastructure, aiming to bolster SpaceX's computing capabilities by 2027.
  
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• Why India's GCC boom is facing a talent problem — and what companies want next

  15-08-2026 11:19 via timesofindia.indiatimes.com
  
  Talent shortages are a growing strategic risk for India's global capability centres.These skill gaps are delaying product launches and limiting digital transformation programs.Rising costs and employee pressure are also contributing to the talent challenge.GCCs need to significantly increase investment in AI-ready talent and skills.Strengthening talent ecosystems will ensure India's continued leadership in the global GCC landscape.
  
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• Petrol export levy cut to nil, diesel and ATF duties retained: What changes from August 15

  15-08-2026 07:51 via timesofindia.indiatimes.com
  
  In a recent announcement, the government declared a temporary removal of export levies on petrol for a duration of two weeks. However, diesel exports will incur a duty of Rs 24 per litre, while aviation turbine fuel exports will be subject to a Rs 19.5 per litre levy. This new framework is set to take effect from August 15 and will last until August 31.
  
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• India’s big semiconductor push: PM Modi says 7-8 plants coming up in few years; stresses self-reliance in chips

  15-08-2026 05:53 via timesofindia.indiatimes.com
  
  Looking ahead, PM Modi said an additional five to eight semiconductor plants are expected to be established over the next seven to eight years, further advancing India's journey towards Aatmanirbhar Bharat and Viksit Bharat.
  
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• India’s big semiconductor push: PM Modi says 5-8 plants coming up in few years; stresses self-reliance in chips

  15-08-2026 05:53 via timesofindia.indiatimes.com
  
  Looking ahead, PM Modi said an additional five to eight semiconductor plants are expected to be established over the next seven to eight years, further advancing India's journey towards Aatmanirbhar Bharat and Viksit Bharat.
  
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• ‘No-go’ to ‘go-ahead’: PM Modi hails ‘Samudra Manthan' for deep-sea exploration in Independence Day speech

  15-08-2026 05:34 via timesofindia.indiatimes.com
  
  To speed up offshore exploration, the government approved Samudra Manthan – the National Offshore Exploration Scheme on July 31, 2026. The scheme has been allocated Rs 84,084 crore for Phase I, covering the period up to FY2030-31.
  
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• ‘No-go’ to ‘go-ahead’: PM Modi hails ‘Samrudha Manthan' for deep-sea exploration in Independence Day speech

  15-08-2026 05:34 via timesofindia.indiatimes.com
  
  To speed up offshore exploration, the government approved Samudra Manthan – the National Offshore Exploration Scheme on July 31, 2026. The scheme has been allocated Rs 84,084 crore for Phase I, covering the period up to FY2030-31.
  
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• PM Modi’s Independence Day speech: Energy security demand of our times; no shortage of gas, fuel, urea

  15-08-2026 05:06 via timesofindia.indiatimes.com
  
  Speaking about the country's long-term energy strategy, the Prime Minister stressed that energy security is a key national priority. He said India is working towards achieving 100 gigawatts of nuclear power capacity.
  
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• ‘Fragile 5 to fastest growing’: PM Modi talks of India’s economic growth during Independence Day speech

  15-08-2026 04:38 via timesofindia.indiatimes.com
  
  Talking about the dream to become a developed country by 2047, PM Modi said, “The world will be forced to look at India differently when the most populous country becomes a developed nation.”
  
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