BUSINESS
Fin Min’s rules on transition of goods stocked under higher GST slabs coming soon, says Piyush Goyal
Commerce Minister also said that the decision to reduce rates under the GST regime had nothing to do with any other nation or upcoming state elections.
BUSINESS
Exporters seek broader rupee trade with Russia amid Trump's tariffs
A more attractive mechanism for rupee trade is key to enhancing exports to Russia, as sanctions limit transactions in the US dollar
BUSINESS
Indian exports to US hit half of FY25 mark in first 5 months of FY26, says Goyal
Indian exporters have rushed their US-bound shipments ahead of the August 27 tariff deadline when tariffs doubled. Exports to America have risen around 22 percent on-year till July in the current fiscal, which is higher than the trend growth rate of 17-18 percent.
INDIA
Goyal calls US–India ties ‘most consequential’, says tariff tensions will pass
India and the US 'will continue to be friends and engage, describing the partnership as multidimensional', said Goyal
BUSINESS
Piyush Goyal urges industry to pass on 'entire benefit' of GST cut to consumers
Goyal said that India can weather any challenges as it has done in the past. He also cited the country's contribution during the pandemic when medicines and vaccines were supplied to over 100 nations either free of cost or at nominal prices without making profits.
BUSINESS
India and China’s similar export profiles mean slim trade benefits from a diplomatic reset
While easing geopolitical tensions between India and China offer strategic benefits, closer ties are unlikely to ease India’s export challenges due to similar export patterns, and Beijing's dominant presence in key labour-intensive sectors.
BUSINESS
India, ASEAN agree to fast-track FTA review amid Trump’s tariffs
This is crucial since negotiations to review the free trade deal between India and ASEAN had earlier made little headway despite nine rounds of talks. But, the 10th round that went on from August 10 to August 14 in New Delhi witnessed significant progress as the global environment becomes more uncertain.
BUSINESS
Front-loaded exports, softer oil prices may cushion India’s current account deficit from Trump’s tariffs
Indian exporters have rushed their US-bound shipments ahead of the August 27 tariff deadline. Exports to America have risen around 22 percent on-year so far in this fiscal till July, which is higher than the trend of 17-18 percent growth rate.
BUSINESS
Indian diamond, jewellery makers scramble for new markets as Trump erects tariff wall
India sells nearly $10 billion worth of gems and jewellery to the US annually
BUSINESS
Trump doubles tariff from Aug 27: Indian labour-intensive goods face over 50%, pharma, tech remain spared
Labour-intensive exports to the US are expected to take the hardest hit as these sectors will face a rate of more than 50 percent given that Trump’s reciprocal tariffs are over and above the most favoured nation (MFN) duties in place.
BUSINESS
“At 50%, it can’t go on”: Trump’s punitive tariffs put Indian textile exports and jobs at risk
Almost 28% of India's textile and apparel exports go to the US
BUSINESS
Finance Ministry plans consultations with India Inc to boost job creation amid slowing wage growth
Efforts to help industry, especially MSMEs to achieve scale and thereby ensuring better wages is key since the capacity to spend is intrinsically tied to growth in income that has been tepid, particularly in urban India.
BUSINESS
16th Finance Commission may ask states to opt for more revenue mobilising steps amid slowdown
The commission is expected to come out with a report by October 31, covering a period of five years from April 2026.
BUSINESS
Centre moving quickly on deregulation norms to enhance ease of business for India Inc
Measures to improve ease of business include fast-tracking of a high-level committee on regulatory reforms, simplifying FDI rules and further decriminalisation of minor offences, it is learnt.
BUSINESS
India may ease FDI norms for solar industry to attract Chinese investment, but tighten grip on IT, data
The rethink on Chinese investments into India comes at a time when the relationship between the two nations have seen a thaw in recent few weeks.
INDIA
India-US 6th round of trade talks scheduled for August 25 deferred
The two nations opened trade talks in March and have held five rounds of negotiations, with the last one held in July in the US
BUSINESS
Commerce Ministry delegation to join EAM Jaishankar during Russia visit; Eurasian FTA, rupee-rouble settlement on agenda
India and the five-nation Eurasian Economic Union bloc have been working towards launching formal negotiations for a proposed free trade agreement. The five members of the bloc are Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia.
BUSINESS
India to fast-track FTAs with EU, Oman, New Zealand to diversify exports, says commerce ministry
The ministry also plans to speed up the implementation of the Export Promotion Mission that was announced in the budget for FY26.
BUSINESS
India’s goods trade deficit widens to $27 billion in July
On a year-on-year basis too, the merchandise deficit recorded last month was larger compared to $23.5 billion in July 2024
BUSINESS
India’s FY26 GDP growth seen at least 6% even if Trump keeps tariffs at 50%, says govt official
A favourable monsoon and the likelihood of benign crude oil prices are expected to cushion some of the impact of steeper US tariffs on Indian exports.
BUSINESS
Govt favours retaining current inflation targeting framework from FY27 for another 5 years
This is because the weight of food in the CPI basket is likely to come down; therefore, the RBI may continue to target headline inflation, with a mandate of keeping the rate at 4 percent along with a tolerance band of 2 percentage points on either side. The current framework is valid until March 2026.
BUSINESS
WTO upgrades goods trade outlook to 0.9%, citing frontloading of imports to US
"However, higher tariffs over time will weigh on trade, bringing next year’s expected trade volume growth down to 1.8 percent from 2.5 percent previously," the WTO said in its update.
BUSINESS
India mulls fresh incentives for exporters amid US tariff shock, sources say
Any fresh incentive will potentially focus on labour-intensive exports and the requirement for the same will depend on if and how quickly Washington and New Delhi secure a trade deal potentially lowering the massive tariffs rates, sources said.
BUSINESS
Indian textile exporters seek tariff cost sharing as fresh US orders nearly halt
While, there is a rush to ship goods to dodge the extra 25 percent tariff, an exporter said that since manufacturing for export purposes begins only once an order is received, one can’t frontload too much.
