September 11, 2026

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INDIAN ECONOMY

GST data to track Andhra Pradesh’s economic growth live

Commercial Taxes Department Chief Commissioner Babu A has said that the State is leveraging GST and related commercial tax data to develop a real-time mechanism for assessing economic activity and estimating Gross Value Added (GVA) across key sectors. Addressing the 8th Collectors’ Conference at the Secret...

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India's new-age economy to triple to $300 billion by FY31: Redseer report

India's new-age economy is projected to triple to USD 300 billion in revenue by financial year 2030-31, closely approaching the scale of the country's IT services sector, according to a report by Redseer Strategy Consultants. A new-age economy is driven by AI, knowledge capital, and digital innovation. ...

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BRICS Business Forum 2026: Piyush Goyal urges nations to open markets, cut trade barriers and link payment systems

Commerce and Industry Minister Piyush Goyal on Friday called on BRICS countries to open their markets to each other, cut non-tariff barriers and link their payment systems, pitching deeper economic integration as the grouping seeks to build more resilient supply chains and navigate a fragmented global economy...

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New-age industries fuelling India's capex cycle, says SBI chief

Corporate spending on large infrastructure projects is picking up in India, with new-age sectors such as data centres, green hydrogen and electric vehicles emerging as important drivers of credit demand, Ashwini Kumar Tewari, managing director at State Bank of India Ltd., told Bloomberg Television in an inter...

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IMF says India remains growth engine for world, monitoring impact of higher oil prices

India remains a growth engine for the global economy, the spokesperson for the International Monetary Fund said on Thursday, noting that India's second-quarter growth of 7.8% was higher than expected by IMF staff. Spokesperson Julie Kozack told reporters that India's growth was driven by stronger-than-expe...

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BRICS Summit 2026: Putin’s India visit puts trade, defence and Ukraine peace efforts in focus

Russian President Vladimir Putin arrived in India on Friday for a three-day visit that will see him meet Prime Minister Narendra Modi and attend the BRICS summit, with bilateral trade, investment, energy and defence ties expected to dominate the agenda. Putin, who is travelling with a high-level delegation, ...

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Electricity, not oil, should define growth

Many commentators have recently spoken about the idea of an “electrostate”. Some see it as a country powered by renewable energy. Others view it as a manufacturing hub for batteries, solar panels, and green hydrogen. My definition is broader. An electrostate is an economy that organises its growth model ar...

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BRICS Summit 2026: India sets agenda on trade, AI, payments and economic resilience

The BRICS Business Forum kicked off in Delhi on Friday, setting the stage for the 18th BRICS Summit on September 12–13, 2026. Business leaders, ministers and heads of state from Brazil, Russia, India, China, South Africa and partner countries are gathering to shape the grouping’s economic agenda under India’s...

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India’s crude oil basket crosses $100: Is the spike temporary or will it push up fuel prices?

The surge in global crude oil prices is taking a toll domestically, as recently, the Indian crude oil basket breached the $100-a-barrel mark after nearly four months. This reflects a rise of nearly 28% from its July low of $82/bbl. In international markets, Brent crude futures are hovering near their month...

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BRICS meet may set stage for India-China economic reset

The outcome of a scheduled bilateral meeting between Prime Minister Narendra Modi and Chinese President Xi Jinping will be as closely watched as the New Delhi Declaration that will follow the 18th BRICS Summit here from September 12 to 13. Modi will also meet Russian President Vladimir Putin on the sidelin...

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MARKET & FINANCE

RBI announces 26-day VRRR auction to absorb Rs 5 lakh crore surplus liquidity

The Reserve Bank of India will hold a 26-day variable rate reverse repo auction on Friday with a target to drain out Rs 5 lakh crore from the inter-bank market which is flush with excess liquidity. Announcing the auction Thursday, the regulator said that participants in the auction will have an option to wit...

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India's BRICS play may have a payment plan with no hard cash

When BRICS leaders meet in New Delhi on September 12 and 13, India is unlikely to put its weight behind the headline-grabbing idea that has followed the grouping for years: a common BRICS currency that could challenge the US dollar. Instead, New Delhi may have a different plan. India is likely to pitch seam...

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SIPs hit a new milestone: 10 Cr accounts, Rs 18.62 lakh crore in assets and rising

Systematic investment plans (SIPs) continued to gain ground among mutual fund investors in August. Monthly SIP contributions rose to Rs 32,297 crore last month and the number of contributing accounts crossed the 10-crore mark, according to data released by the Association of Mutual Funds in India (AMFI) on Th...

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RBI Governor urges fintech firms to ‘treat data as fiduciary responsibility’

Reserve Bank of India (RBI) Governor Sanjay Malhotra on Thursday urged fintech companies to treat customer data as a fiduciary responsibility rather than a business asset, while calling on them to expand financial services to underserved sections of the population. Speaking at the Global Fintech Fest 2026,...

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GLOBAL CORPORATE

Premier Energies inks JV with Germany’s RCT Group for 12 GWh battery storage facility in Telangana

Premier Energies, one of India’s largest integrated solar manufacturers, has signed a binding term sheet with RCT India, part of Germany’s RCT Group, to set up a joint venture for battery energy storage system (BESS) manufacturing in Telangana. The company disclosed the development in a regulatory filing to t...

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Europe Drives Global EV Sales Growth in August, Offsetting China, North America Weakness

Global demand for electric vehicles rose for a sixth consecutive month in August, with Europe leading the growth, data from UK-based research firm Benchmark Mineral Intelligence showed on Friday. Sales of battery-electric and plug-in hybrid vehicles show growing differences between major markets. Subsidies...

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German Corporate Insolvencies Hit 13-Year High in First Half

The number of corporate insolvencies in Germany rose to a 13-year high in the first half of 2026 despite signs of a nascent recovery in Europe's largest economy, figures from the federal statistics office showed on Friday. Local courts reported 12,812 corporate insolvency filings from January to June, an i...

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INCOME TAX

Business or profession? Wrong code triggers income tax notices on 'defective returns'

An incorrect code in an income tax return (ITR) has put several business taxpayers under the department's compliance scanner. Several from Ahmedabad have received defective return notices, flagging returns in which the selected business or profession code is absent, incorrect or does not correspond with the ...

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Income Tax reassessment: HC strikes down Section 147A of IT Act 1961; what it means for notices issued by tax officers

The Punjab & Haryana High Court has struck down the newly introduced Section 147A of the Income Tax Act, 1961, which sought to retrospectively clarify the role of the Jurisdictional Assessing Officer (JAO) in reassessment proceedings. What is the case? The case concerns a batch of petitions challenging the c...

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GLOBAL ECONOMY

IMF Say Global Growth on Track to Reach 3% in 2026, but Risks Remain High

The IMF on Thursday said the global economy had weathered the energy shock caused by the war in the Middle East better than feared and global economic output was still expected to expand by about 3% in 2026, but it cautioned that ...

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New Zealand August Manufacturing Activity Eases but Stays in Expansion Territory

New Zealand's manufacturing activity continued to expand in August, though at a slower pace than the previous month, as businesses cited cost-of-living pressures and the Middle East conflict as factors weighing on growth....

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Japan's Wholesale Inflation Stays Elevated in August, Boosts Case for Rate Hike

apan's wholesale inflation remained elevated in August, data showed on Friday, highlighting mounting price pressures that cement the case for the central bank to raise interest rates this month. The data follows recent hawkish ...

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Japan Core Inflation Seen Steady at 1.8% in August: Reuters Poll

Japan's core consumer inflation likely held steady in August as the impact of higher oil prices from the Middle East conflict was offset by government subsidies, a Reuters poll showed on Friday. Here are a few details: • Th...

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Global Bond Selloff Pushes 10-Year US Yield Toward 5% on Oil, Rate-Hike Fears

A global bond selloff pushed U.S. 10-year Treasury yields near the closely watched 5% level on Friday as inflationary fears stemming from oil prices surging well beyond $100 a barrel and rising odds of a near-term U.S. rate hike r...

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UK Economy Grows at Fastest Pace Since February 2025 on Possible AI Boost

Britain's economy grew at the fastest annual pace in 18 months in July, helped by a boost from artificial intelligence and extending a strong first-half performance despite headwinds from the U.S.-Iran war, official figures showed...

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French Economy Not in Danger but Deficit Must Be Cut, Central Bank Chief Says

French central bank chief Emmanuel Moulin said on Friday that France was not in catastrophic economic danger but the government must act to reduce the country's public deficit. Moulin was speaking after INSEE revised its econom...

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Austrian Central Bank Says Economic Outlook Improving, to Be Felt Next Year

Austria's central bank has trimmed its economic growth forecast for the country in 2026 due to a weaker-than-expected first six months of the year, but raised it for next year as the outlook is improving, it said on Friday....

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BRICS Business Forum 2026: Jaishankar calls for resilient supply chains, predictable business environment across BRICS countries

External Affairs Minister S Jaishankar on Friday called for more predictable business environments, resilient supply chains and diversified trade relationships across BRICS nations, saying the grouping’s economic strength would in...

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US unemployment claims dip to 206,000 as layoffs continue to remain rare

Slightly fewer Americans filed for unemployment claims last week as jobless claims remain at historically low levels and layoffs are still relatively rare. Filings for benefits dipped to 206,000 last week from a revised 207,000 t...

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US wholesale prices rise in latest sign of stubborn inflation as oil prices continue to climb

Wholesale inflation picked up last month after cooling earlier this summer as higher oil and gas prices stemming from the Iran war keep costs elevated. ...

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US Bond Crisis Deepens: $40 trillion debt vs $6 billion Treasury buyback

US Treasury bond yields hit multi-year highs on Thursday and showed no signs of cooling off. The yield on the 10-year US Treasury bond trades over 4.93%, its highest level since October 2023, while the 30-year US Treasury bond tra...

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ECB hikes key rates as Iran war sends oil above $100; inflation fears surge

The European Central Bank delivered its second interest rate increase of the year on Thursday (September 10). It raised its benchmark deposit rate by 25 basis points to 2.50% as the Iran war fuelled inflation and renewed concerns ...

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INDIAN CORPORATE

Vodafone Idea shifts from survival mode to comeback

Vodafone Idea is beginning to look beyond survival. After years of financial stress, subscriber losses and uncertainty over its ability to remain a meaningful player in the market, the telecom operator is stepping up investments, ...

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GST

Delhi HC mandates biometric Aadhaar authentication for GST registration across India: Here's why

The Delhi High Court has ordered authorities nationwide to ensure that no GST registration is granted without biometric Aadhaar authentication, pointing to the continued use of stolen or frozen PAN and Aadhaar details to obtain fraudulent GST registrations. A Division Bench comprising Justice Anil Khetarpal ...

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SEBI

SEBI to implement global supervisory toolkit for AI: Pandey

The Securities and Exchange Board of India (SEBI) is stepping up the use and oversight of emerging technologies in the securities market, with plans to implement a global supervisory toolkit for artificial intelligence and pilot t...

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Insolvency

IBBI asks insolvency professionals to flag suspected misuse of IBC

The insolvency regulator has directed insolvency professionals (IPs) to scrutinise corporate insolvency resolution processes (CIRPs) for possible misuse of the insolvency framework and approach the adjudicating authority when ther...

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