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India and Mauritius have strengthened their diplomatic ties by establishing an 'enhanced strategic partnership.' On Wednesday, Prime Minister Narendra Modi and Mauritian Prime Minister Navinchandra Ramgoolam signed eight agreements aimed at fortifying cooperation across multiple sectors, including maritime security and local currency trade.Introducing the ambitious 'MAHASAGAR' vision, Modi outlined India's dedication to the Global South's growth and security, particularly in the Indian Ocean region. This vision, building on the SAGAR initiative, underscores the cooperative spirit between India and Mauritius, focusing on areas like trade, technology, and mutual defense.In their...

The Indian Rupee softens in Wednesday’s Asian session.  The likely RBI intervention and softer US Dollar underpin the INR.  The Indian and US CPI inflation reports will take center stage later on Wednesday.  The Indian Rupee (INR) softens on Wednesday. The unabated outflows of foreign funds into Indian equities could exert some selling pressure on the local currency. Foreign investors have withdrawn almost $15 billion from Indian shares so far this year, putting outflows on track to surpass the record $17 billion registered in 2022. Nonetheless, the potential foreign exchange intervention...

The Indian Rupee strengthens in Wednesday’s early European session.  The likely RBI intervention and softer US Dollar underpin the INR.  The Indian and US CPI inflation reports will take center stage later on Wednesday.  The Indian Rupee (INR) rebounds on Wednesday. The potential foreign exchange intervention from the Reserve Bank of India (RBI) and strong Asian currencies, especially the offshore Chinese Yuan provide some support to the Indian currency. Nonetheless, the unabated outflows of foreign funds into Indian equities could exert some selling pressure on the local currency. Foreign investors have...

The Indian Rupee strengthens in Wednesday’s Asian session.  The likely RBI intervention and softer US Dollar underpin the INR.  The Indian and US CPI inflation reports will take center stage later on Wednesday.  The Indian Rupee (INR) rebounds on Wednesday. The potential foreign exchange intervention from the Reserve Bank of India (RBI) and strong Asian currencies, especially the offshore Chinese Yuan provide some support to the Indian currency. Nonetheless, the unabated outflows of foreign funds into Indian equities could exert some selling pressure on the local currency. Foreign investors have withdrawn...

US-based Coinbase, an online platform for buying, selling, transferring and storing cryptocurrency, has registered with India’s Financial Intelligence Unit (FIU) to offer crypto trading services in India. The company plans to launch its initial retail services later this year, followed by additional investment and products in India thereafter.In a company blogpost, John O’Loghlen, Regional Managing Director for APAC at Coinbase shared, “We’re committed to building in markets that believe in the potential of crypto and onchain innovation. India represents one of the most exciting market opportunities in the world today,...

India has "absolutely no interest" in undermining the US dollar, and its fellow members of the Brics grouping of emerging economies have not formed a unified position on a proposed alternative payment system, according to New Delhi's foreign minister.Speaking at the London-based think tank Chatham House last week during a six-day visit to Britain and Ireland, Subrahmanyam Jaishankar described the dollar as a "source of international economic stability".His comments followed repeated warnings from US President Donald Trump against any efforts by Brics - an acronym of founding nations Brazil, Russia,...

Gold prices rose in India on Tuesday, according to data compiled by FXStreet. The price for Gold stood at 8,136.41 Indian Rupees (INR) per gram, up compared with the INR -0.03 it cost on Monday. The price for Gold increased to INR 94,901.45 per tola from INR 94,612.61 per tola a day earlier. Unit measure Gold Price in INR 1 Gram 8,136.41 10 Grams 81,347.34 Tola 94,901.45 Troy Ounce 253,060.20   Daily digest market movers: Gold price retreats amid falling US yields The US 10-year Treasury bond yield dropped nearly...

India's foreign exchange reserves slumped in the week that ended on February 28, as per the latest RBI data. In the week under consideration, the foreign exchange reserves declined by $1.781 billion to $638.698 billion. Forex reserves had slumped for about four months, recently hitting an 11-month low. Then followed the latest rollercoaster movement, with gains some weeks and declines the next. Forex reserves started falling after touching an all-time high of $704.89 billion in September. They are now about 10 percent lower from their peak. The decline in reserves...

India has witnessed a sharp rebound in agri foodtech spending during 2024 with investments rising 215 per cent to $2.6 billion, as per venture capital firm AgFunder’s latest Global Agrifoodtech Investment Report 2025. During the year, the global agri foodtech showed some signs of recovery in 2024, reaching $16 billion in funding, just a 4 per cent drop from 2023.AgFunder said the increased investment in developed markets such as the US and Netherlands, and developing nations such as India during 2024, hint at better days to come. But no one’s...

India's forex reserves declined by USD 1.781 billion to USD 638.698 billion in the week ended February 28, according to the Reserve Bank of India (RBI). Foreign currency assets and gold reserves saw a decrease.Mumbai, Mar 7 (PTI) India's forex reserves dropped by USD 1.781 billion to USD 638.698 billion in the week ended February 28, the RBI said on Friday.The overall forex kitty had jumped by USD 4.758 billion to USD 640.479 billion in the previous reporting week.At the end of September 2024, the forex reserves touched an all-time...