• ADB cuts India’s 2014-15 growth forecast to 5.5% due to sharper than expected industrial slowdown.
  • Food inflation stood at 7.56% in February versus 8.94% for the month of January.
  • India’s external debt, at end-Dec 2013, totaled $ 426.0 billion, an increase of (US$ 21.1 billion) over the level at end-March 2013.
  • Infrastructure industries grew by 2.6% during Apr-Feb 2013-14 versus 6.4% during the same period of previous year.
  • RBI has extended the implementation period of Basel III Capital norms to March 31, 2019 from March 31, 2018.
  • Retail inflation for industrial workers eased to a two year low of 6.73% in February due to softening of prices of food items.
  • The government has reduced the import tariff value on gold to $421 per 10 gms from $445 per 10 gms earlier.
  • The RBI in its monetary policy for FY 15 has kept the repo rate unchanged at 8%.
  • The reverse repo rate also stands unchanged at 7%, and the bank rate at 9%.
  • World Bank indicates that India ranks 54th in Trade Logistics Performance across the globe
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phd President Writes

India is fortunately blessed with abundant natural resources which can be judiciously used for development with the ultimate aim to eradicate unemployment and poverty from our country.

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Mr. Sharad Jaipuria

PHD Chamber of Commerce and industry