India’s economic growth will slow to 7.0 percent this financial year, according to official estimates released Friday, as weaker global demand and high inflation weigh on the world’s fifth-largest economy.

India’s unemployment rate rose to 8.30 per cent in December, the highest in 16 months, from 8.00 per cent in the previous month, data from the Centre for Monitoring Indian Economy (CMIE) showed on Sunday.

India’s foreign exchange reserves fell to $562.81 billion in the week through December 23, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday.

India has suggested that Bangladesh review the proposed import quota on seven food items as the neighbouring nation believes the quantity sought as a guaranteed supply is too high.

Egis India Consulting Engineers Private Limited has been appointed as consultant for a capacity building project worth Tk 6,014 crore at Mongla port, the second largest seaport in Bangladesh.

India’s future interest rate hikes should be carefully calibrated and its intervention in the foreign exchange market should be limited to managing volatility, the International Monetary Fund (IMF) said on Friday.

India’s foreign exchange reserves snapped a five-week rising streak and fell to $563.5 billion in the week through December 16, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday.

The Indian rupee advanced against the US currency on Thursday, tracking a fall in the dollar index ahead of US data.

India’s central bank governor warned Wednesday that cryptocurrency markets risked causing the next global financial crisis, saying the recent collapse of FTX was proof of the sector’s “inherent risks”.

The Indian rupee rose against the dollar on Monday as the greenback declined against its major peers, while forward premiums added to last week’s surge.

India is taking most of Russia’s Urals crude oil loading in December as it remains top buyer for a second month in a row, according to traders and Refinitiv data.

India’s $200 billion textile and apparel industry is facing a crisis as consumers in the United States, Europe and other big markets have cut spending on clothing following a surge in inflation after the war in Ukraine, industry officials said.

India gave a list of Indian products to Moscow for access to Russian markets, Foreign Minister Subrahmanyam Jaishankar said on Monday, as his country seeks to narrow a growing trade deficit with Russia at a time when Moscow faces acute shortages of some crucial materials following Western sanctions.

The Indian economy is likely to grow 6.5 per cent to 7 per cent next fiscal year if the global environment does not worsen, a member of the prime minister’s economic advisory council said on Thursday, giving a higher estimate than some economists.

India posted an economic growth of 6.3 per cent in its July-September quarter, far slower than the 13.5 per cent growth reported in the previous three months as distortions caused by Covid-19 lockdowns faded in Asia’s third-largest economy.

Toyota Motor Corp on Friday launched its second hybrid car in India, a seven-seat people-carrier, as part of a broader strategy to double-down on the sale of electrified vehicles in emerging markets.

India’s economy is expected to grow between 6.1 per cent and 6.3 per cent in the second quarter of the current financial year based on high frequency indicators and economic prediction models, the Reserve Bank of India (RBI) said in its monthly bulletin.

India’s coal-fired power output has increased much faster than any other country in the Asia Pacific since Russia’s invasion of Ukraine, underscoring the challenges the world’s third-largest greenhouse gas emitter faces in weaning its economy off of carbon.

A 32-member parliamentary delegation of Assam arrived in Bangladesh on a four-day visit yesterday, aimed at improving trade and connectivity between Bangladesh and the north-eastern states of India.

A two-day international leadership summit will begin today in Dhaka to help strengthen economic cooperation within Indian Ocean Rim Association.