Latest news with #ReutersIndiaFile
Reuters
05-03-2025
- Climate
- Reuters
Magnitude 5.8 earthquake strikes Myanmar-India border, GFZ says
March 5 (Reuters) - An earthquake of magnitude 5.8 struck the Myanmar-India border region on Wednesday, the German Research Centre for Geosciences (GFZ) said. The quake was at a depth of 10 km (6.21 miles), GFZ said. Get the latest news from India and how it matters to the world with the Reuters India File newsletter. Sign up here.
Reuters
28-02-2025
- Business
- Reuters
VIEW India's economy grows 6.2% in October-December
Feb 28 (Reuters) - India's economy grew by 6.2% in October-December, marginally below expectations but faster than in the previous quarter on the back of increased government and consumer spending, data released on Friday showed. The growth in gross domestic product (INGDPQ=ECI), opens new tab was slightly lower than the 6.3% expansion projected by analysts in a Reuters poll, and the central bank's estimate of 6.8%. The world's fifth-biggest economy grew 5.8% in the previous quarter. COMMENTS GAURA SEN GUPTA, INDIA ECONOMIST, IDFC FIRST BANK, MUMBAI The Q3 GDP growth is "marginally better than our expectations". The pickup in growth moment reflects some improvement in listed companies profit growth with moderation in input cost. Agriculture growth also showed a strong pickup led by robust Kharif crop output. Meanwhile, on the demand side, private consumption growth picked-up reflecting revival in rural demand. HARRY CHAMBERS, ASSISTANT ECONOMIST, CAPITAL ECONOMICS, LONDON Stepping back, the big picture is that the economy is still fairly soft by India's recent standards. However, with the Reserve Bank of India shifting its priorities from controlling inflation to supporting growth, economic activity should begin to pick up further. This week's reversal of the tighter bank lending restrictions introduced in late 2023, as well as the further monetary policy loosening from the "central bank that we expect, will boost household consumption and investment in particular". Get the latest news from India and how it matters to the world with the Reuters India File newsletter. Sign up here.
Reuters
27-02-2025
- Business
- Reuters
India extends deadline for offshore mineral blocks' bidding, official says
NEW DELHI, Feb 27 (Reuters) - India has extended the deadline for bidding for offshore mineral blocks by one month, an official with the country's mines ministry said on Thursday. India in November launched the auction of 13 offshore mineral blocks worth more than 1.5 trillion rupees ($17.20 billion). The official declined to be identified because the notification is not yet public. ($1 = 87.1930 Indian rupees) Get the latest news from India and how it matters to the world with the Reuters India File newsletter. Sign up here.
Reuters
24-02-2025
- Business
- Reuters
Indian tech sector seen growing at 5.1% in FY25, Nasscom says
MUMBAI, Feb 24 (Reuters) - India's technology sector is expected to grow at 5.1% this fiscal year, driven by engineering research and development as well as rising global capacity centres, its main industry body said on Monday. The National Association of Software and Service Companies (Nasscom) expects the industry's revenue to grow to $282.6 billion in fiscal 2025 and cross $300 billion in fiscal year 2026. Get the latest news from India and how it matters to the world with the Reuters India File newsletter. Sign up here.
Reuters
23-02-2025
- Business
- Reuters
India's CIL, France's EDF to form JV to set up renewable projects
NEW DELHI, Feb 23 (Reuters) - India's state-run Coal India Ltd ( opens new tab on Sunday said it will establish a joint venture with an arm of France's EDF to build renewable power plants in South Asian countries. The joint venture between Coal India and EDF India, will set up pumped-storage hydropower projects and other renewable energy projects in India and neighbouring countries, Coal India said in a stock exchange announcement. The two companies have signed a non-binding shareholders agreement to form the joint venture, it said. Get the latest news from India and how it matters to the world with the Reuters India File newsletter. Sign up here.
