Category: Beyond

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Inflation hits India by 3.21% in February

India’s retail inflation picked up in February, rising to 3.21% from 2.74% in January, marking a noticeable increase but still staying within a comfortable range for consumers and policymakers. The rise comes as prices of everyday items like vegetables, fruits, and personal care products went up, alongside sharper gains in precious metals such as gold and silver.

Food prices were the main driver, with vegetables like tomatoes seeing a steep jump compared to last year. Rural areas felt the pinch more, reflecting persistent price pressures outside urban centres. Analysts say this is partly due to base-year effects in the new CPI series, which uses 2024 as its reference point.

Even with the rise, the overall inflation rate remains within the Reserve Bank of India’s target range of 2–6%, signaling that price pressures are under control. Core inflation, which excludes volatile food and fuel prices, also remained moderate, showing that underlying inflation is stable.

The global oil price volatility and geopolitical tensions could push prices higher in the months ahead. For now, the central bank is expected to maintain a balanced approach, keeping an eye on inflation while supporting economic growth.

For households, this means slightly higher grocery bills and modest increases in everyday expenses, but nothing that signals a major disruption in spending power. Economists believe the current trend reflects temporary pressures rather than a long-term spike, offering some reassurance to consumers and businesses alike.

Also Read: India’s FDI relaxation supports US, EU funds

 

 

 

 

 

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CCI dismisses complaint against BookMyShow

The Competition Commission of India (CCI) has dismissed a complaint accusing BookMyShow of abusing its dominant position in the online movie ticket booking market, concluding that there was no violation of competition laws.

The complaint was filed by Showtyme, a smaller ticketing platform founded by Vijay Gopal. The complainant alleged that BookMyShow entered into exclusive agreements with cinemas and multiplex chains, preventing rival platforms from accessing theatres and limiting competition in the market.

According to the complaint, some theatres signed agreements requiring them to sell tickets only through BookMyShow for periods ranging from two to five years. Showtyme argued that such exclusivity arrangements created significant barriers for new entrants and reduced options for competing ticket booking platforms.

The complainant also raised concerns about the convenience fees charged by BookMyShow for online ticket bookings. It claimed that the platform shared a portion of these fees with theatre partners, which allegedly made it harder for competitors to build similar partnerships and offer comparable services.

After reviewing the case, the Competition Commission of India acknowledged that BookMyShow holds a strong position in the online movie ticketing market in India. However, the regulator said the available evidence did not show that the company had misused this position to restrict competition.

The commission observed that exclusivity agreements are common in many industries and can sometimes serve legitimate business purposes. It noted that such arrangements do not automatically violate competition laws unless they significantly harm competition or prevent new players from entering the market.

The regulator also pointed out that movie tickets in India can still be purchased through several channels, including theatre websites, box office counters, and other ticketing platforms. This, according to the CCI, suggests that competition in the market has not been completely restricted.

Based on these findings, the commission concluded that there was no evidence of abuse of dominance under India’s competition law and ordered the case to be closed.

The decision brings an end to the dispute and clears BookMyShow of allegations related to anti-competitive practices in India’s online movie ticketing sector.

Also Read: India plans $11 bn fund for domestic chip industry

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India plans $11 bn fund for domestic chip industry

The government is planning to launch a new fund worth about $11 billion (around ₹1 trillion) to strengthen the country’s semiconductor industry and encourage local chip manufacturing. The proposed fund is part of India’s long-term strategy to reduce reliance on imported semiconductors and build a strong domestic electronics ecosystem.

The initiative is expected to support companies involved in chip design, fabrication, packaging, and supply chain development. Officials familiar with the plan say the fund may be announced within the next few months, although final details are still being discussed.

India has been actively pushing to expand its semiconductor capabilities in recent years. In 2021, the government introduced a major incentive programme offering subsidies of up to 50% for companies setting up semiconductor and display manufacturing plants in the country. That policy helped attract investments from global firms and large Indian conglomerates.

Projects backed under the earlier scheme include semiconductor-related investments by companies such as Micron Technology and Tata Group. These projects are expected to play an important role in building India’s chip manufacturing base, which is still at an early stage compared with major global producers.

Semiconductors are essential components used in a wide range of products including smartphones, computers, cars, artificial intelligence systems, telecommunications equipment and consumer electronics. As global demand for chips continues to grow, many countries are investing heavily in domestic manufacturing to secure supply chains and reduce geopolitical risks.

India currently imports most of the semiconductors it uses, despite having a large electronics manufacturing sector and a strong pool of engineering talent. The government hopes the new funding initiative will encourage both domestic and international companies to set up more chip-related operations in the country.

Officials believe the additional financial support could help accelerate the development of a full semiconductor ecosystem in India, covering everything from research and design to manufacturing and advanced packaging.

Also Read: Adobe CEO Shantanu Narayen to step down

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Rupee nears 93 due to West Asia conflict

The Indian rupee fell to a record intra-day low against the US dollar on Friday. In early trade, the rupee dropped about 12 paise to around ₹92.37 per dollar in the interbank foreign exchange market. The fall came as investors reacted to tensions in the Middle East, which have pushed crude oil prices higher and created volatility in global markets.

The rise in oil prices has put pressure on the Indian currency because the country imports a large share of its crude oil requirements. As oil becomes more expensive, India’s import bill increases, weakening the rupee and affecting the overall economy.

The fall in the rupee has also raised concerns about inflation. Recent data shows that retail inflation in India has reached a 10-month high. Economists say higher oil prices could increase transportation and production costs, which may lead to higher prices for many goods and services.

A weaker rupee also makes imports such as electronics, fertilisers and machinery more expensive. These higher import costs may eventually be passed on to consumers, increasing the cost of living.

Market experts say global uncertainty caused by the West Asia conflict has reduced investor confidence. During such periods, investors often shift funds to safer assets such as the US dollar, putting pressure on emerging market currencies like the rupee.

The Reserve Bank of India (RBI) is closely monitoring the situation and may step in to stabilise the currency if volatility increases.

Economists warn that if geopolitical tensions continue and oil prices remain high, the rupee could face further pressure. This could also add to inflation risks for the Indian economy.

Also Read: Gold at ₹1,62,210, Silver at ₹2,79,900

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Gold at ₹1,62,210, Silver at ₹2,79,900

Gold and silver prices in India recorded a marginal decline in early trading on Friday. In the domestic market, the price of 24-carat gold fell slightly by ₹10 to around ₹1,62,210 per 10 grams. Similarly, silver prices dropped by ₹100 and were trading near ₹2,79,900 per kilogram. Despite the minor fall, gold prices continue to remain close to record levels due to strong demand for safe-haven assets.

The price of 22-carat gold also saw a small dip, with 10 grams trading at approximately ₹1,48,690. Market analysts note that while prices have eased slightly, the overall trend in precious metals remains supported by global uncertainty and investor interest in safe assets.

Several international factors are currently influencing movements in the gold and silver markets. Ongoing geopolitical tensions in the Middle East have raised concerns among investors, leading many to seek protection through traditionally safe investments such as gold. Such developments typically increase volatility in precious metal prices.

At the same time, rising crude oil prices and expectations surrounding US monetary policy are also affecting market sentiment. Higher oil prices can increase inflation concerns, which in turn may influence decisions by the US Federal Reserve regarding interest rates. If interest rates remain high for longer, the upside potential for gold may remain limited.

Movements in the US dollar are another key factor shaping precious metal prices. A stronger dollar tends to make gold and silver more expensive for international buyers, which can reduce demand and weigh on prices.

On the Multi Commodity Exchange (MCX), gold and silver futures have also shown fluctuations in recent sessions, reflecting mixed global cues and profit-booking by traders. Market participants are closely watching international developments, including geopolitical events and economic indicators, for further direction.

Also Read: Sensex dives 900 points, Nifty near 23,330

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Oil tops $100 after tanker attacks in Iraqi waters

Global oil prices jumped sharply on Thursday after reports that two oil tankers were attacked in Iraqi waters near the Gulf of Hormuz, a key route for about one-fifth of the world’s oil shipments. The attacks stoked fears that ongoing Middle East conflicts could further disrupt crude supply and push prices even higher.

Brent crude briefly rose above $100 per barrel, while US West Texas Intermediate (WTI) oil also climbed significantly. Traders reacted to the news of port shutdowns and fires caused by the attacks, which forced temporary halts at some terminals.

The attacks come amid escalating tensions involving Iran, the United States, and Israel, heightening worries about shipping safety in the region. Analysts said that disruptions in the Gulf, especially around the Strait of Hormuz,  could severely affect global oil supply, since the area is critical for transporting crude to international markets.

Governments are trying to ease the pressure. The International Energy Agency (IEA) announced the release of 400 million barrels from global reserves, while the US released 172 million barrels from its strategic reserves to help stabilize prices. Despite these measures, uncertainty continues, and traders are factoring in the risk of more disruptions.

Experts warn that higher oil prices could increase costs for fuel, transportation, and goods worldwide, adding to inflation concerns already affecting many countries. The recent surge shows how sensitive global energy markets are to geopolitical tensions and how a single incident can ripple through economies.

Investors and policymakers are watching the situation closely. Any further escalation in the region or continued attacks on tankers could keep oil prices volatile, impacting businesses and consumers globally.

Also Read: India backs record IEA oil reserve release

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LPG fears spark rush for induction cooktops

Concerns about a possible LPG shortage in parts of India have triggered a rush for induction cooktops, with many models quickly selling out on online quick-commerce platforms. As worries about cooking gas availability spread, many households are buying electric cooktops as a backup option.

Several quick-delivery platforms, including Blinkit, Swiggy’s Instamart and Zepto, have reported a sharp increase in orders for induction stoves. In many cities, including Delhi, Mumbai, Bengaluru and Chennai, customers found that most induction cooktops were already out of stock or available only in limited numbers.

Retailers say the sudden demand began after news of LPG supply concerns began circulating. Many families rushed to buy induction stoves so they would have an alternative way to cook if gas cylinders became difficult to get.

Electronics store owners also reported a surge in walk-in customers looking for induction cooktops. Some shops said they sold several days’ worth of stock in just a few hours as people hurried to secure the appliances.

The surge in demand has not been limited to the cooktops themselves. Utensils designed for induction cooking, such as compatible steel pans and pots, have also seen a spike in sales and are running low in many stores.

The LPG supply concerns are linked to global energy market uncertainties and geopolitical tensions affecting fuel supply chains. These developments have raised fears that cooking gas availability could be affected if the situation worsens.

Restaurants and small food businesses have also been watching the situation closely. Some eateries have started exploring electric cooking equipment to avoid disruptions if LPG supply becomes limited.

Meanwhile, government officials have urged the public not to panic. Authorities say they are monitoring the situation and taking steps to ensure there is enough LPG supply in the country.

Also Read: Reliance silent after Trump’s $300bn refinery claim

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India backs record IEA oil reserve release

India has said it is ready to support global oil markets after the International Energy Agency (IEA) announced a record release of oil from emergency reserves to ease supply concerns and stabilise prices.

The IEA said its member countries would release around 400 million barrels of oil from their strategic petroleum reserves. The move is aimed at increasing supply in global markets and reducing pressure on oil prices, which have risen due to supply disruptions and geopolitical tensions.

The Government of India said it is closely monitoring developments in international energy markets and supports efforts to ensure stability in global oil supplies. Officials said India stands ready to take suitable steps if required to help maintain market balance, though no specific measures have been announced so far.

The emergency release comes as tensions in parts of the Middle East have raised concerns about disruptions to oil supply routes. These concerns have pushed up global crude prices and increased uncertainty in energy markets.

According to the IEA, the coordinated release of oil reserves is the largest in the organisation’s history. Member countries will release oil based on their individual capacities and national conditions to ensure markets receive additional supply in the coming months.

Although India is not a full member, it works closely with the IEA as an associate member and participates in discussions on global energy security. As one of the world’s largest oil importers, India is highly sensitive to changes in global oil prices and supply disruptions.

Officials said India continues to strengthen its own strategic petroleum reserves and diversify its sources of crude oil imports to improve energy security.

Experts believe the large reserve release could help calm markets in the short term by increasing available supply. However, they also note that long-term stability will depend on how geopolitical tensions evolve and whether key global oil supply routes remain stable.

Also Read: Reliance silent after Trump’s $300bn refinery claim

 

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Gold rises to ₹1,63,320, silver slips to ₹2,89,900

Gold prices in the domestic market edged up slightly on Thursday, while silver declined, as global currency movements and geopolitical concerns influenced bullion trading.

The price of 24-carat gold increased by ₹10 to ₹1,63,320 per 10 grams, whereas silver fell by ₹100 to ₹2,89,900 per kilogram in early trade.

Market analysts said the strengthening of the US dollar has put pressure on precious metals globally. A stronger dollar typically makes commodities priced in the currency more expensive for international buyers, which can limit demand and cap price gains.

At the same time, ongoing geopolitical tensions in the Middle East have continued to support gold’s appeal as a safe-haven asset. Investors often turn to gold during periods of global uncertainty, helping keep prices relatively firm despite currency pressures.

In international markets, gold prices have shown limited movement as traders remain cautious ahead of key global economic signals and interest-rate expectations. Higher interest rates tend to reduce the attractiveness of gold because the metal does not generate interest or yield.

Silver prices, which are more closely linked to industrial demand, witnessed a decline during the session. Market participants attributed the fall to profit-booking and softer demand outlook in some industrial sectors.

Despite the slight decline in silver, both precious metals are trading near historically elevated levels in India. Gold has been hovering around the ₹1.63 lakh mark per 10 grams in recent sessions, reflecting sustained investor interest amid global financial volatility.

Currency fluctuations have also played a role in domestic bullion prices. A stronger dollar and movements in the Indian rupee often influence the landed cost of precious metals in the country.

Any further escalation in international tensions could increase safe-haven demand for gold, while continued dollar strength may restrict significant upward movement in prices.

Also Read: Sensex falls 975 points, Nifty drops to 23,500

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Air India to add fuel surcharge as jet fuel costs rise

Air India has announced that it will introduce a fuel surcharge on flight tickets as rising aviation fuel prices push up airline operating costs. The surcharge comes amid global energy market volatility linked to tensions involving Iran in West Asia.

The airline said passengers booking domestic flights will have to pay an additional ₹399 fuel surcharge starting March 12. The same charge will also apply to flights to nearby South Asian destinations such as Nepal, Sri Lanka and Bangladesh.

For longer international routes, the surcharge will be higher. Flights to West Asia will see an additional charge of around $10, while routes to Southeast Asia and Africa will have surcharges ranging from $60 to $90, depending on the distance and route.

Air India said the move is necessary because of the sharp increase in aviation turbine fuel (ATF) prices in recent weeks. Fuel is one of the biggest expenses for airlines, and sudden price increases can significantly affect operating costs.

Global oil prices have been fluctuating due to the ongoing conflict in West Asia, which has raised concerns about energy supply and shipping routes. As a result, airlines are facing higher fuel bills and are adjusting ticket prices to manage the added costs.

The airline clarified that the surcharge will apply only to new tickets booked from March 12 onwards. Passengers who have already purchased tickets will not be affected unless they change their bookings or reissue their tickets.

Air India said it understands that the additional charge may affect travellers, but described it as a necessary step to offset rising fuel expenses and maintain operations.

Also Read: Reliance backs first new US oil refinery in 50 years