Business
Moody’s Analytics Lowers India’s GDP Forecast to 6.1% Amid US Tariff Concerns
“The US stands as one of India’s largest trading partners; thus, the prospect of a 26 percent tariff on Indian imports will severely disrupt the trade balance,” Moody’s Analytics reported.
The agency noted the current 90-day freeze on most tariffs and the existing 10 percent blanket tariff but cautioned that its April baseline reflects the potential economic consequences if the tariffs are fully implemented.
Fortunately, the overall growth is expected to remain relatively insulated from this shock, as external demand constitutes a minor portion of GDP. With headline inflation easing, Moody’s Analytics anticipates that the Reserve Bank of India (RBI) will likely reduce interest rates, predicting cuts of 25 bps that would adjust the policy rate to 5.75 percent by the end of CY25.
“This, coupled with the tax incentives introduced earlier this year, is expected to bolster the domestic economy and mitigate the impact of tariffs on overall growth compared to other vulnerable economies,” the report indicated.
At the recent Monetary Policy Committee (MPC) meeting, the RBI projected India’s GDP growth for 2025-26 at 6.5 percent, despite the uncertainties posed by the US tariffs. Governor Sanjay Malhotra announced that real GDP growth is estimated at 6.5 percent for Q1, 6.7 percent for Q2, 6.6 percent for Q3, and 6.3 percent for Q4.
This GDP projection is supported by sustained demand from rural areas and a rebound in urban consumption, reflecting a changing global economic landscape as recent trade tariff measures have intensified uncertainties surrounding the economic outlook across various regions.
Business
RBI Ends Special Dollar-Rupee Swap Window Early Amid Strong Demand
Mumbai: The Reserve Bank of India (RBI) has decided to close its special forex swap facility for fresh FCNR deposits early.
The facility will now close on August 31, the RBI said on Friday.
The central bank said the decision was taken after receiving an encouraging response. The facility has attracted $52.3 billion through fresh foreign currency deposits.
Banks can continue to undertake swaps with the RBI against FCNR deposits raised under the facility until September 11.
Meanwhile, the schemes for External Commercial Borrowings and Overseas Foreign Currency Borrowings will remain open until December 31, 2026.
The RBI launched the special US dollar-rupee forex swap facility on June 8. It allowed banks to raise fresh three-to-five-year FCNR deposits.
Banks could then swap these deposits with the RBI at a concessional rate. The facility effectively covered the entire hedging cost for banks.
The strong response to the scheme led the RBI to bring the facility to an early close.
Business
Leksa Lighting Technologies Named among India’s Top 100 MSMEs
Moodbidri: A dream that began in the rural area of Niddodi in Moodbidri has now gained national recognition. Leksa Lighting Technologies Pvt. Ltd., founded by Ronald Sylvan D’Souza, has been recognised as one of India’s Top 100 MSME companies.
The prestigious national recognition was presented by the MSME Udyog Foundation at a ceremony held in New Delhi on August 8, 2026.
Ronald Sylvan D’Souza started his entrepreneurial journey from a humble background. Through hard work, discipline and continuous efforts, he built Leksa Lighting Technologies into a recognised lighting technology company.
The company has focused on quality, technological innovation and indigenous manufacturing. Research and development have also played an important role in its growth.
Leksa Lighting has adopted Japanese work practices to improve its manufacturing and operational standards. The company has also worked towards developing quality lighting solutions in India.
What began as a dream in rural Karnataka has now reached different parts of the country. The company is also making its presence felt in international markets.
Speaking about the recognition, Ronald Sylvan D’Souza said the award was not an individual achievement. He credited the entire Leksa team, customers, business partners, family members and everyone who supported the company.
He said he was proud and happy to see a dream that began in Niddodi and Moodbidri receive recognition at the national level.
READ MORE:Rare Otter Spotted in Paddy Field at Paddam, Udupi
The achievement highlights the potential of rural entrepreneurs. It also shows that determination, discipline and consistent hard work can help a business from a rural area achieve success on a national platform.
Leksa Lighting Technologies’ journey stands as an example of how a local dream can grow into a nationally recognised enterprise.
Business
Vehicle Prices to Increase from August 1
New Delhi: Buying a new vehicle is set to become more expensive from August 1, adding to the financial burden on consumers. Several automobile manufacturers have announced a price hike due to rising production costs.
The increase is mainly driven by higher prices of raw materials and components. The cost of steel, aluminium, rubber, plastic, electronic chips, batteries, and spare parts has gone up in recent months. Global market changes caused by ongoing conflicts and inflation have also increased manufacturing expenses.
As a result, vehicle companies have decided to raise the prices of new models. Customers planning to purchase a new vehicle are likely to pay more from August 1.
The price hike is also expected to affect the travel and transport industry. Travel agencies and tour operators say buying new cars, SUVs, and other passenger vehicles will become more expensive.
Operators have already been facing higher expenses due to increased fuel prices and toll charges. With the additional cost of new vehicles, many travel agencies are preparing to revise their rental charges.
READ MORE:Bhava Sangama Devotional and Patriotic Song Competition Concludes in Mangaluru
The Karnataka Travels Association has indicated that travel fares may be increased to manage the rising operating costs. Passengers may have to pay more for each trip if the revised rates are implemented.
Meanwhile, several automobile manufacturers have already published details of the upcoming price increase on their official websites. Consumers planning to buy a new vehicle may consider making their purchase before the revised prices come into effect on August 1.
-
MANGALORE2 hours agoTulu Play ‘Gutthonji Kateyaand’ Released in Mangaluru
-
Politics9 hours agoSIR Being Used to Disqualify Genuine Voters, Alleges Ivan D’Souza
-
Entertainment9 hours agoWill ‘Premada Oorali’ Join the List of Kannada Cinema’s Most Profitable Hits?
-
National7 hours agoMarriage Turns into Alleged Fraud as Woman Flees with Jewellery
-
LATEST NEWS2 hours agoDubai to Celebrate Karnataka Rajyotsava 2026 with a Grand Show of Unity
-
Entertainment5 hours agoKiara Advani and Sidharth Malhotra Announce Second Pregnancy
-
LATEST NEWS4 hours agoHighway Development Gains Momentum in Dakshina Kannada
-
MANGALORE8 hours agoKambala Academy Award for Namma Kudla Director Leelaksha B. Karkera
