Economy news

• Canada’s CPP to invest Rs 7k cr in Hyderabad-based CtrlS

  18-06-2026 01:23 via timesofindia.indiatimes.com
  
  Canadian Pension Plan Investment Board is injecting up to ₹7,000 crore into CtrlS Datacenters, acquiring an 8.2% stake for ₹4,000 crore. This significant investment fuels India's booming digital infrastructure, driven by escalating demand for cloud, hyperscale, and AI-ready data centers. A joint venture will also develop new hyperscale campuses across the nation.
  
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• 'Silicon Valley of North India': Ashwini Vaishnaw sees Jewar emerging as chip manufacturing hub

  27-06-2026 18:35 via timesofindia.indiatimes.com
  
  Jewar is set to become a major electronics manufacturing hub with two new projects worth Rs 6,750 crore, expected to create 3,000 jobs. Union Minister Ashwini Vaishnaw announced the foundation stones were laid for facilities producing advanced printed circuit boards and HVAC components. This move signifies India's shift from assembly to deep manufacturing, aiming to reduce import dependence and boost the economy.
  
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• Iran's inflation surges to 88.6% as war deepens economic crisis

  27-06-2026 17:45 via timesofindia.indiatimes.com
  
  Iran's inflation has skyrocketed to 88.6%, its highest in months, as the Middle East conflict intensifies economic woes. Food prices have more than doubled, with bread, grains, and meat seeing staggering year-on-year increases. This surge compounds existing challenges of sanctions and hyperinflation, severely impacting household purchasing power and fueling public discontent.
  
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• Firm moved to a new GST jurisdiction? CBIC issues clarity on how pending cases will be handled

  27-06-2026 15:45 via timesofindia.indiatimes.com
  
  Businesses relocating their primary operations to a new GST jurisdiction will now find that ongoing tax proceedings will seamlessly transfer. The Central Board of Indirect Taxes and Customs (CBIC) has clarified that the new tax authority will pick up cases from where they were left off, ensuring continuity. This move aims to prevent procedural delays and jurisdictional disputes, allowing for the efficient conclusion of investigations, audits, and other tax matters.
  
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• China's industrial profit growth slows for first time in 6 months as weak domestic demand bites

  27-06-2026 15:00 via timesofindia.indiatimes.com
  
  China's industrial profit growth saw a dip in May, despite robust exports and rising factory prices. This slowdown, the first in six months, highlights persistent weak domestic demand and sluggish investment. While global AI trends and energy market disruptions offered some support, they weren't enough to overcome internal economic pressures. Companies in certain sectors continue to face challenges, indicating an ongoing imbalance between supply and demand within the country.
  
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• Kotak Mahindra Bank CEO Ashok Vaswani to exit after term ends in December 2026

  27-06-2026 14:19 via timesofindia.indiatimes.com
  
  Kotak Mahindra Bank's CEO, Ashok Vaswani, will not seek reappointment after his term ends December 31, 2026, citing personal reasons. The bank has initiated the process to find a successor. Vaswani, who took charge in January 2024, aims to elevate the bank's standing amidst a period of regulatory review and growth acceleration. The bank recently reported a 13% net profit increase for Q4 FY26.
  
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• Can AI boom make everything more expensive? IMF's chief economist says the inflation story is just beginning

  27-06-2026 13:49 via timesofindia.indiatimes.com
  
  Artificial intelligence is now a new driver of inflation, according to IMF Chief Economist Pierre-Olivier Gourinchas. He explains that AI is increasing costs for technology hardware and simultaneously making consumers wealthier through booming stock markets, leading to higher spending. This dual impact on both supply and demand channels is creating fresh inflationary pressures, a concern for the global economy.
  
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• Pax Silica Summit: India among 35 countries backed US-led 'AI Opportunity' declaration

  27-06-2026 12:08 via timesofindia.indiatimes.com
  
  India has joined 34 nations in a US-led effort to foster robust AI supply chains, signing the Joint Statement on AI Opportunity. This move champions a pro-growth, pro-innovation regulatory path for artificial intelligence. The initiative emphasizes trusted supply chains, private sector involvement, and critical infrastructure development for the future. Discussions also focused on expanding cooperation in semiconductors and AI.
  
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• Just 14% of MSMEs get formal loans despite India's digital finance boom: Report

  27-06-2026 11:50 via timesofindia.indiatimes.com
  
  Despite India's advanced digital payments, millions of small businesses struggle for formal finance, with only 14% accessing institutional credit. A significant credit gap, potentially exceeding Rs 50 lakh crore, hinders economic growth. While financial account ownership is high, formal credit access and insurance penetration lag global averages, highlighting critical inclusion gaps requiring policy reforms for broader economic participation and resilience.
  
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• 'Target Indians': NZ foreign minister alleges ‘covert’ immigration changes under FTA

  27-06-2026 10:35 via timesofindia.indiatimes.com
  
  New Zealand's Foreign Minister Winston Peters has accused the government of covertly introducing discriminatory immigration rules targeting Indian citizens under the new Free Trade Agreement. He claims these changes, including stricter visa tests and residency requirements, were deliberately kept from public view to avoid Indian backlash. The government, however, has vehemently rejected these allegations, calling them misinformation and highlighting the FTA's benefits for trade.
  
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• Explained: How India’s transition from WPI to PPI will strengthen inflation measurement - what it means for policy making

  27-06-2026 09:53 via timesofindia.indiatimes.com
  
  PPI captures the prices relevant for the production process without being complicated by inclusion of indirect taxes net of subsidies or wholesalers’ margins.
  
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• India's economy may grow up to 6.8% in FY27 as domestic demand stays resilient: EY

  26-06-2026 19:27 via timesofindia.indiatimes.com
  
  India's economy is poised for robust growth of 6.6-6.8% this financial year, buoyed by easing global energy prices and normalized Strait of Hormuz shipments. Inflation is expected to remain manageable around 4.5%, with the current account deficit projected at 1.5% of GDP. Strong domestic demand, particularly in consumption and investment, remains the primary growth engine, supported by healthy manufacturing and services activity.
  
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• Volkswagen considers 4 factory closures, 1 lakh job cuts amid China competition, tariff pressure: Report

  26-06-2026 18:04 via timesofindia.indiatimes.com
  
  Volkswagen is reportedly considering a massive overhaul, including closing four German factories and significantly increasing job cuts, potentially impacting up to 100,000 roles. This drastic move comes as the automaker faces intense competition from Chinese rivals, US tariffs, and declining European demand. The proposals, set for discussion soon, are expected to face strong opposition from unions and a key state shareholder, highlighting the immense pressure on the German giant.
  
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• US stock market today: AI stocks sink again, pulling Wall Street towards weekly loss

  26-06-2026 16:21 via timesofindia.indiatimes.com
  
  Wall Street experienced a downturn Friday, primarily driven by a significant selloff in AI-linked stocks. This overshadowed gains in other sectors, pushing the S&P 500 towards its second weekly dip in three months. Investor concerns about earnings growth justifying AI stock valuations intensified, impacting global markets. Major tech players like Micron and Apple faced pressure, while oil prices also retreated amid easing geopolitical tensions.
  
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• India-UK FTA must drive transformational growth, not just higher trade: Piyush Goyal

  26-06-2026 15:56 via timesofindia.indiatimes.com
  
  Commerce and Industry Minister Piyush Goyal urged Indian and British businesses to aim for "transformational growth" with the upcoming Free Trade Agreement, effective July 15. He emphasized exploring partnerships to maximize opportunities beyond incremental gains. Goyal also highlighted the Double Contribution Convention, benefiting temporary workers, and criticized global rating agencies for their assessment of India's economic potential.
  
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• Watchdogs turn to AI: FINMA leads push to build cyber tools; US curbs hit Anthropic's Mythos

  26-06-2026 15:14 via timesofindia.indiatimes.com
  
  Amid escalating cyber threats, financial regulatory bodies across the globe are increasingly leveraging AI. They are developing proprietary AI solutions to strengthen the oversight of banking and digital assets, acknowledging the necessity of keeping up with swiftly evolving risks. Moreover, international platforms are encouraging joint efforts to secure access to credible AI technologies, while concerns over national security lead to export limits on particular AI models.
  
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• India's forex reserves rise to $672.59 billion after gold holdings jump

  26-06-2026 14:20 via timesofindia.indiatimes.com
  
  India's foreign exchange reserves saw a significant rebound, climbing by $963 million to $672.587 billion in the week ending June 19. This recovery was primarily driven by a substantial surge in gold reserves, which more than compensated for a dip in foreign currency assets. The overall reserves reversed a sharp decline from the previous week, signaling a positive trend.
  
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• Green urea push: Centre plans 7.24 lakh MT green ammonia procurement to reduce fertiliser imports

  26-06-2026 13:20 via timesofindia.indiatimes.com
  
  India is set to boost Green Urea production with a new roadmap, aiming to procure 7.24 lakh metric tonnes of Green Ammonia annually under the National Green Hydrogen Mission. This initiative seeks to cut reliance on imported urea and decarbonize fertilizer manufacturing.
  
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• 8th Pay Commission: Will fitment factor stay close to 2.57? Why a cautious approach is expected

  26-06-2026 12:51 via timesofindia.indiatimes.com
  
  8th Pay Commission: The fitment factor remains the most significant component of the pay revision process, as it is used to calculate revised salaries and pensions by applying a multiplier to the existing basic pay and pension.
  
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• US waives sanctions on Iranian crude: Here's why Indian refiners are still hesistant to buy it

  26-06-2026 12:35 via timesofindia.indiatimes.com
  
  Indian refiners are unlikely to resume buying Iranian oil despite a temporary US waiver. Existing supply commitments, payment concerns, and the waiver's short duration mean most refiners have already secured other crude sources. While opportunistic purchases at steep discounts are possible, a significant return to Iranian barrels is improbable for now, with China expected to remain the primary buyer.
  
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• Corporate India may avoid the worst of the Middle East crisis if US-Iran truce holds: Crisil

  26-06-2026 12:24 via timesofindia.indiatimes.com
  
  Global market jitters over Middle East tensions have eased following a US-Iran ceasefire, improving the outlook for Indian corporate profitability. Crisil Ratings now anticipates a smaller 100-basis-point decline in operating margins for fiscal 2027, down from a previous 200-basis-point estimate. While most sectors are expected to see minimal disruption, some like airlines and specialty chemicals remain under pressure due to persistent input cost challenges.
  
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• Why India making its own bullet trains is a big deal - explained

  26-06-2026 12:15 via timesofindia.indiatimes.com
  
  The trains that will run on India’s first bullet train corridor will be manufactured indigenously. And that will be a feat for India’s engineering capabilities. A Rs 866.87 crore contract has been awarded to BEML Limited by Integral Coach Factory (ICF) Chennai for manufacturing two prototype bullet train or high-speed train sets.
  
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• India's AI services revenue touches $12 billion as adoption moves beyond pilots: Nasscom

  26-06-2026 11:50 via timesofindia.indiatimes.com
  
  India's tech sector is booming with AI, generating billions in revenue and moving projects from concept to reality. Industry leaders emphasize AI's role in creating new opportunities, not replacing jobs, by demanding expertise in orchestration, data, and security.This shift is projected to unlock a massive market, with companies increasingly needing specialized partners to integrate AI into their operations.
  
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• Amid India-US trade deal talks, Trump admin’s fresh warning to world: ‘Old tariffs may return’

  26-06-2026 10:59 via timesofindia.indiatimes.com
  
  The latest statements by Bessent indicate that the Donald Trump administration is looking at alternative ways to impose tariffs on its trading partners since the US Supreme Court has ruled reciprocal tariffs as illegal.
  
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• Micron overtakes Meta in market value as AI boom fuels rally

  26-06-2026 10:36 via timesofindia.indiatimes.com
  
  Micron Technology's market value soared, briefly surpassing Tesla and exceeding Meta, driven by a robust fourth-quarter forecast and significant AI sector exposure. Investors reacted positively to projected revenue and profit growth, alongside $22 billion in customer commitments for future chip supplies. This surge underscores the increasing demand for memory and storage solutions crucial for AI development and deployment.
  
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• Qatar crude enters Asian market again as Hormuz gets back to business

  26-06-2026 09:18 via timesofindia.indiatimes.com
  
  The Strait of Hormuz is buzzing with activity as Qatar resumes crude oil exports to Asian refiners for the first time since the recent conflict.This resurgence in oil flows, alongside improved regional dynamics and ongoing US-Iran talks, signals a significant easing of tensions.Tanker movements are increasing, with significant volumes of Qatari crude now heading to markets like Taiwan and India, indicating a broader recovery in Gulf energy trade.
  
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• Five times India and US disagreed on trade, but eventually found a way forward

  26-06-2026 08:23 via timesofindia.indiatimes.com
  
  Trade negotiations between major economies are rarely linear. Domestic political pressures, competing economic interests and bureaucratic processes ensure that difficult issues are seldom resolved overnight.
  
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• How Venezuela’s strongest earthquake in a century could affect India’s crude oil imports

  26-06-2026 08:21 via timesofindia.indiatimes.com
  
  India's growing crude oil imports from Venezuela face uncertainty after powerful earthquakes struck the South American nation. While major oil infrastructure appears largely undamaged, power grid issues and localized disruptions are being closely monitored. This comes as India has significantly increased its reliance on Venezuelan crude for diversification, with recent high-level energy cooperation discussions highlighting the deepening ties.
  
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• Forex measures yield results! FPIs buy record $4.2 billion Indian government bonds in June; reserves may get a boost

  26-06-2026 08:02 via timesofindia.indiatimes.com
  
  The sharp rise in inflows follows a series of measures by the government and the Reserve Bank of India. According to reports, this is the highest monthly inflow into sovereign debt by a wide margin. The figure comfortably exceeds the previous record of Rs 22,005 crore recorded in August 2024.
  
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• Scotch and gin get cheaper: India-UK trade deal kicks in July

  26-06-2026 07:39 via timesofindia.indiatimes.com
  
  India and the UK are set to implement a landmark trade pact and a Double Contribution Convention on July 15, 2026. This comprehensive agreement promises significant benefits, including zero-duty access for nearly all Indian exports and enhanced services trade. It aims to boost bilateral trade to $120 billion by 2030, fostering deeper economic ties and collaboration across various sectors.
  
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