Bangladesh will export around 3,000 tonnes of hilsa to India marking upcoming Durga Puja, the biggest religious festival of the Hindu community scheduled to be held next month. 

Tata Motors launched India’s lowest priced electric car at a little over $10,000 on Wednesday as the country’s only electric vehicle (EV) maker looks to draw in more buyers.

India’s foreign exchange reserves fell for a seventh straight week, dropping to $545.652 billion in the week to September 16, its lowest level since October 2, 2020, Reserve Bank of India’s weekly statistical supplement showed on Friday.

The Reserve Bank of India is set to raise interest rates again next week with a slim majority of economists in a Reuters poll expecting a half-point hike and some others expecting a smaller 35 basis point rise.

India is considering allowing the overseas shipment of some rice cargoes stuck at ports after the world’s biggest exporter of the grain imposed restrictions earlier this month, a government official said on Wednesday on the condition of anonymity.

The Indian rupee closed at its lowest level ever against the US currency on Wednesday, tracking the dollar index’s strength as the US Federal Reserve gears up for a hefty rate hike to tame inflation pressures.

India said on Tuesday it had begun talks with Sri Lanka on restructuring its debt and promised to support the crisis-hit neighbour mainly through long-term investments after providing nearly $4 billion of financial aid.

At least 20 ships are waiting to load around 600,000 tonnes of rice at Indian ports as New Delhi’s surprise export restrictions have trapped cargoes for nearly a fortnight, forcing sellers to pay demurrage charges, industry officials told Reuters.

India’s central bank is using up its foreign exchange reserves at a quicker pace than during the taper-tantrum period in 2013 as it tries to prevent an overshoot in the rupee, but a larger pool of reserves may allow it to support the currency for some more time, economists said.

Top lender State Bank of India has asked exporters to avoid settling deals with Bangladesh in the dollar and other major currencies as it looks to curb exposure to Dhaka’s falling reserves, according to an internal document and a source.

A sharp rebound in consumer spending and rising employment will sustain economic growth in India in the months ahead, the government said in its monthly economic review for August published on Saturday.

The Reserve Bank of India said on Friday it will have to front-load its monetary policy to fight stubborn inflation and shield medium-term growth in the world’s fifth-largest economy.

India’s current account deficit likely widened to its highest in nearly a decade in the April-June quarter, driven by soaring global commodity prices and the biggest capital outflows since the global financial crisis of 2008, a Reuters poll found.

India’s rice exports could fall by around a quarter this year as New Delhi’s restrictions force buyers to switch to rival suppliers which are offering the grain at a cheaper price, trade and industry officials said.

India should be able to grow at about 7 per cent annually this decade as investment spending is expected to rise and the digital economy picks up, the chief economic adviser said on Tuesday.

The Reserve Bank of India may raise interest rates by another 50 basis points this month after data showed inflation rose further above the central bank’s tolerance limit in August, analysts said.

India’s restrictions on rice exports have paralysed trading in Asia, with buyers scouring for alternative supplies from Vietnam, Thailand and Myanmar where seller are holding off on deals as prices rise, industry officials said.

Indian authorities on Sunday said they had arrested a man who had masterminded the creation of many shell companies linked to China and appointed dummy directors to run the fraudulent businesses.

Indian conglomerate Tata Group is in talks with Taiwanese supplier Wistron Corp to establish a joint venture to assemble Apple’s iPhones in India, Bloomberg News reported on Friday.

India’s decision to curb rice exports is expected to lift world prices of the staple and trigger a rally in rival wheat and corn markets, deepening concerns over food inflation.