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India's wholesale price index (WPI) inflation hit a 14-month low of 0.39% in May, driven by cheaper food and fuel, although experts foresee potential price hikes due to global tensions. The industry ministry noted that positive inflation stemmed from specific sectors like food manufacturing and chemicals.
The Unique Identification Authority of India (UIDAI) is set to revamp e-Aadhaar, introducing a QR code-based system to eliminate need for physical copies. Updates, excluding biometrics, will be automated through integrated databases, reducing center visits.
State Bank of India reduced its lending rates by 50 basis points, effective June 15, 2025, lowering RLLR to 7.75% and EBLR to 8.15%. Fixed deposit rates for amounts up to Rs 3 crore were also decreased by 25 basis points across various maturities.
India's electronics manufacturing sector is poised for significant growth, potentially reaching $282 billion to $500 billion by 2030, driven by global supply chain shifts and increasing domestic production. Mobile phones, semiconductors, and consumer electronics are expected to be key growth drivers. Realizing this potential requires sustained policy support, infrastructure development, and strategic investments.
May 2025 witnessed steady performance across vehicle segments in India, with total domestic sales reaching 20,12,969 units. Two-wheelers, particularly scooters, and passenger vehicles drove growth, while three-wheelers experienced a slight downturn. Optimism surrounds the sector due to recent RBI repo rate cuts and predictions of favorable monsoons, expected to boost affordability and consumer confidence in the coming months.
Basmati rice prices, recently elevated due to increased exports, are anticipated to decline due to potential export reductions to Iran amidst geopolitical tensions. Iran constitutes a significant importer of Indian basmati rice.
India's exports reached $71.12 billion in May 2025, a 2.77% increase year-over-year, driven by strong services exports which rose to $32.39 billion. While merchandise exports saw a slight dip, the overall trade deficit narrowed to $6.62 billion. During the initial two months of FY26, exports grew by 5.75%, and India's total exports in 2024-25 hit a record $824.
2025/07/12 05:05:04
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