Top Stories | India’s 7.8% GDP growth, Reliance Jio IPO timeline, rupee at record low, and more
The markets remain muted with both the Sensex and Nifty wrapping up the week with their worst drop in five months. To add to the gloom, the rupee hit an all-time low of 88 against the US dollar, rattled by unexpected US tariff moves.
Commerce Minister Piyush Goyal called for a broader export base to reduce dependency on a few sectors. Meanwhile, eight states came out in support of a GST revamp but they want a five-year cushion to deal with any potential revenue shortfalls.
On the global front, PM Narendra Modi made a fresh pitch to Japanese businesses, pointing to success stories like Suzuki and Daikin as examples of thriving partnerships. Back home, Maharashtra saw a flare-up in political heat as the Maratha reservation protest returned to Mumbai, with thousands rallying under activist Manoj Jarange Patil’s banner.
India’s economy posts 7.8% growth in June quarter, highest in five quarters
India’s gross domestic product (GDP) grew 7.8% in the April–June quarter, the fastest pace in five quarters, compared with 6.5% in the same period last year, as per the National Statistical Office (NSO) data released on Friday (August 29).
Reliance Jio IPO planned for H1 2026, CMD Mukesh Ambani says at 48th AGM
Reliance Jio Infocomm, the telecom unit of Reliance Industries Ltd. is set to go public in the first half of 2026, Chairman and Managing Director Mukesh Ambani said at the company’s Annual General Meeting on Friday, August 29.
Reliance bets on robotics, Ambani says AI-powered humanoids will transform industries
Reliance Industries is preparing to enter the field of robotics, with Chairman and Managing Director Mukesh Ambani calling it the next big frontier for artificial intelligence. Speaking at the company’s 48th annual general meeting (AGM), Ambani said advances in humanoid robotics and intelligent automation are set to redefine industries worldwide.
Reliance Retail targets 20% revenue CAGR over next three years: Mukesh Ambani
Reliance Retail is eyeing a revenue growth of over 20% CAGR in the next three years, Chairman and Managing Director Mukesh Ambani announced at Reliance Industries Limited’s Annual General Meeting on Friday (August 29).
Nifty, Sensex log steepest weekly fall in five months amid weakness in heavyweights
The benchmark indexes fell for the third straight session on Friday, capping their steepest weekly decline in five months as losses in financials, Reliance Industries and capital market-linked stocks outweighed gains in defensive shares.
Four reasons why the rupee crashed to a fresh all-time low today
The Indian rupee slumped past 88 per US dollar on Friday, August 29, hitting a fresh lifetime low. While several global and domestic factors are at play, the sharp move was largely driven by the US decision to impose steep tariffs.
Commerce minister Goyal says looking at sectors to diversify exports as US tariffs take effect
India’s Commerce and Industry Minister Piyush Goyal on Friday (August 29) spoke about diversifying India’s exports, underlining the need to identify which sectors could benefit from alternate markets, after the US tariff of 50% on Indian exports came into effect this week.
‘After Suzuki and Daikin, your success story can be next’: PM Modi to Japan Inc
Prime Minister Narendra Modi on Thursday, August 29, told the Japanese business leaders that they can be a part of a success story like Daikin and Suzuki by manufacturing in India for the world.
Eight states back GST rate rejig but demand five-year levy to offset losses
Finance ministers from eight states on Friday (August 29) supported the government’s proposal to rationalise goods and services tax (GST) rates but urged to safeguard state revenues, warning that repeated tax cuts had eroded their fiscal space.
Maratha Reservation: A burning issue reaches Mumbai again
The Maratha reservation storm, a key factor in Maharashtra’s politics, has once again gripped the state, with Manoj Jarange Patil at the forefront. In a show of strength, thousands of protestors poured into Mumbai, marching through CST and converging at Azad Maidan to press their decades-old demand for quota rights.
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