Business

India’s first bullet train, destined for the Mumbai-Ahmedabad route, has had its design unveiled by Indian Railways. This ambitious project, spanning 508 km, is progressing with station foundation work completed in Gujarat and ongoing construction in Maharashtra, including an undersea tunnel. The initiative aims to boost indigenous high-speed rail capabilities.

Commerce Minister Piyush Goyal urged industry to identify import-dependent products for domestic manufacturing, aiming to boost local production and exports. He highlighted India’s export growth to $863.11 billion and set a $1 trillion target for the current year, emphasizing quality, competitiveness, and scale. Goyal also stressed the importance of Swadeshi and value addition in agri-exports.

Addressing a media briefing on Monday, Sharma said India had been sourcing oil from Russia before the waiver period, during it, and continues to do so now as well.

Electronic Gold Receipts (EGRs) are now trading on the NSE, revolutionizing India’s gold market. This digital format, backed by physical gold in SEBI-regulated vaults, offers investors a secure and transparent way to hold the precious metal. EGRs aim to overcome traditional concerns like purity and storage, integrating gold more closely with the capital markets.

To secure supplies amid restrictions in the Strait of Hormuz, India increased purchases of Russian Urals crude after the temporary easing of US sanctions, according to available data up to April.

Fuel prices in India saw their first hike in four years, with petrol and diesel increasing by Rs 3. This move aims to alleviate significant daily losses incurred by oil marketing companies, estimated at Rs 1,000 crore. While consumer inflation may see a slight uptick, the fiscal impact is considered minimal, with annual consumption expected

Fuel prices have risen by Rs 3 per litre for petrol, diesel, and CNG. This hike follows a surge in global crude oil prices driven by Middle East tensions. After nearly four years of stable rates, oil companies faced significant daily losses. Consumers will now see increased costs for everyday transport and household fuel.