Wednesday, September 09
Fitch Ratings on Monday affirmed India's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook, saying that the country's ratings are supported by its robust growth and solid external finances.India's economic outlook remains strong relative to peers, even as momentum has moderated in the past two years, said the rating agency. "We forecast GDP growth of 6.5% in the fiscal year ending March 2026 (FY26), unchanged from FY25, and well above the 'BBB' median of 2.5%."Fitch said that domestic demand will remain solid, underpinned by the ongoing public capex drive and steady private consumption. However, private investment is likely to remain "moderate", particularly given heightened US tariff risks. The firm said that there has been a notable slowdown in nomina
Pharmaceuticals Export Promotion Council of India (Pharmexcil) has sought alignment of GST rates on both active pharmaceutical ingredients and formulations to reduce complexity and enhance compliance. Currently, formulations (finished medicines) are taxed at 12 per cent, while active pharmaceutical ingredients (APIs) are taxed at 18 per cent. "If formulations move into the 5 per cent bracket while APIs stay at 18 per cent, the gap between input and output tax-known as an inverted duty structure-will widen from 6 per cent to 13 per cent. This locks working capital, creates refund backlogs, and adds costs to an industry that operates on thin margins," Pharmexcil Vice Chairman Bhavin Mehta said in a statement. The solution is straightforward: align GST on APIs and formulations, he added. "If
The Adani Group has significantly increased its reliance on Indian lenders, with domestic banks and financial institutions now responsible for half of its staggering debt, which exceeds Rs 2.6 lakh crore, The Times of India reported on August 25. This marks a notable rise from 40% just a year ago, as the conglomerate navigates a changing financial landscape characterised by lower local funding costs and improved credit ratings, ToI's report (by Mayur Shetty) said.In the twelve months leading up to June 2025, the Adani Group's overall debt surged by 20%. By the end of this period, loans in rupees constituted 50% of the total borrowings, balancing the proportion of dollar-denominated debt.Public sector banks (PSUs) have notably increased their exposure to the group, raising their share of th
New York-headquartered global alternate investment firm Brookfield Asset Management’s private real estate fund has sold a 50% stake in its office project Bluegrass Business Park in Pune to asset management firm 360 ONE Asset’s real assets funds for an enterprise value of around Rs 2,400 crore or $280 million.The Grade-A office development in Pune’s Kalyani Nagar has a total area of 2 million sq ft. The 7-acre campus includes a 1-million-sq-ft operational tower leased to Mastercard and another under-construction office tower with street retail. Brookfield will continue to manage, develop and lease the property.“This acquisition reflects our strategy of investing in high-quality, future-ready real estate assets across core urban markets. We look forward to partner with Brookfield, wh
