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Search resuls for: "Shivangi Acharya Riddhima Talwani"


2 mentions found


According to the median forecast (INGDPQ=ECI) in a Reuters poll of economists, India's gross domestic product (GDP) grew 7.7% in the past quarter, up from 6.1% growth in the previous quarter and its fastest expansion since April-June 2022. Reuters GraphicsStrong growth in India's services sector, which makes up more than half of its economic output, has helped Asia's third-largest economy buck the global slowdown that has left many major economies, including China, stuttering. S&P Global India services Purchasing Managers' Index (INPMIS=ECI) has remained firmly above the 50-mark separating growth from contraction for nearly two years, the longest stretch since August 2011. To support growth, Indian government has been front-loading its annual spending on infrastructure. Additionally, slowing global growth and exports and a comparison with higher growth rates a year ago will also weigh on growth in quarters ahead.
Persons: Manoj Kumar, Suvodeep Rakshit, Kaushik Das, Rahul Bajoria, Aftab Ahmed, Tomasz Janowski Organizations: REUTERS, DELHI, P Global, Deutsche Bank's, Barclays, Thomson Locations: Faridabad, New Delhi, India, China, P Global India
NEW DELHI, July 14 (Reuters) - Indian refiners have settled some payments for Russian oil imports in Chinese yuan, but the U.S. dollar remains the dominant currency for such payments, a senior government official said. Reuters reported earlier this month that Indian refiners have started turning to the yuan for some payments for Russian oil. "Use of yuan for payment by India will remain limited, given India doesn't accumulate much yuan as export to China is low," the official, who did not want to be named, told Reuters. The official also said the Reserve Bank of India will release guidance for banks in two to three days to resolve some teething issues on the rupee trade mechanism. "The issue with rupee trade is that it can only work as a barter currency," the official said.
Persons: Sergei Lavrov, Shivangi Acharya, Aftab Ahmed, Nikunj, Devika Organizations: U.S, Reuters, Reserve Bank of India, Russian, Thomson Locations: DELHI, India, Moscow, Ukraine, China, Russia
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