BUSINESS
Piyush Goyal slams ‘ridiculous’ rating norms that compare MSMEs with billion-dollar firms
Goyal also pointed out that rating agencies often exaggerate minor disruptions or policy changes, creating unnecessary panic, adding that several strong and fundamentally sound companies end up suffering due to such reactions, which fail to take into account India’s broader economic context.
BUSINESS
Centre open to further cutting duties on essential drugs, says Piyush Goyal
The minister suggested that hospitals could allow up to 10 percent of foreign patients and channel part of the revenue towards Ayushman Bharat or CSR initiatives for underprivileged communities
BUSINESS
India seeks steel tariff relief from EU for auto duty cuts in FTA talks
Sources say New Delhi is seeking relief from the EU’s proposal to double duties on steel to 50% and tighten steel import quotas, while weighing tariff concessions on high-end European cars under the FTA
BUSINESS
India moves to streamline quality control orders amid FTA talks
The Centre is unlikely to issue any new QCOs while the review is underway, which also aims to ease the regulatory burden on MSMEs, who face higher costs and sourcing difficulties due to existing orders being heavily focused on raw materials.
BUSINESS
Spain is the new European destination for Indian petroleum, exports skyrocket 46,000%
The move reflects a strategic shift in India’s European fuel trade, reducing reliance on northern distribution hubs such as The Netherlands in favour of direct end markets such as Spain
BUSINESS
'Significant progress' in critical minerals talks in latest rounds of FTA negotiations with Peru, Chile
India and Peru agreed to hold intersessional meetings to address pending issues ahead of the next round of negotiations to be held in New Delhi in January
BUSINESS
FTA talks with EU, Chile, New Zealand may conclude this year as India seeks export markets, rare‑earth supplies
The trade deal with EU could even happen by November, it is learnt, given that there is consensus on key issues such as automobiles, whisky and wine, on which the 27-nation bloc is seeking significant tariff reductions.
BUSINESS
High US tariffs prompt exports pivot to UAE, China, Europe
Shipments to markets such as UAE, China, and Spain show growth, but reliance on the US remains high
BUSINESS
EU negotiators in New Delhi from November 3 to 7 to advance FTA talks
As part of the visit, European Commission’s trade chief Sabine Weyand will hold high-level talks with Commerce Secretary Rajesh Aggarwal in New Delhi on November 5 and 6.
BUSINESS
Higher US crude import may hinge on prices competitive with Middle East supplies
Even though crude oil from the US could cost slightly more than the price of Russian oil, Indian lenders have turned increasingly cautious as sanctions have targetted two major Russian energy firms.
BUSINESS
Bihar’s third-lowest inflation rate is no guarantee of an incumbent’s return to power
From Gujarat to Chhattisgarh, lower inflation hasn’t always guaranteed victory for incumbents, while some have retained power despite higher price pressures.
BUSINESS
India-Oman FTA delayed due to Omani procedural approvals, not disagreements, says official
The trade deal is also awaiting a green signal from the Majlis al-Shura, or the lower house of the Council of Oman, which serves as a consultative and legislative body. Negotiations for the pact were concluded in August.
BUSINESS
India-EU FTA may exclude CBAM, talks on carbon tax concessions to continue separately
India’s upcoming carbon mechanism is expected to offset costs from the EU’s carbon tax, even as New Delhi continues to seek concessions beyond the FTA for smaller exporters.
BUSINESS
Export Promotion Mission may offer WTO-compliant support for small exporters, skip direct subsidies
The EPM is likely to offer easier access to finance and limited interest subvention with a focus on small exporters, especially through NBFCs, while avoiding traditional or direct subsidy measures, one of the officials said.
BUSINESS
No government directive on Russian oil; refiners weigh costs, alternatives independently, sources say
For state-run refiners, the new sanctions are likely to have a limited impact since they do not have long-term supply contracts with the Russian firms targeted by the latest curbs.
BUSINESS
16th Finance Commission may tie local body grants to further property tax reforms, cleaner air
The commission is unlikely to tinker with the formula for devolution of taxes to states, which will continue to receive 41% of the divisible pool
BUSINESS
Piyush Goyal urges global south unity at UNCTAD to solve critical mineral, fertiliser supply issues
Goyal also highlighted the volatile and unpredictable global environment, especially in trade as well as the "profound trust deficit whether in multilateral institutions, different international bodies, and amongst nations."
BUSINESS
India demands lowering of non-tariff barriers to begin FTA talks with Russia-led bloc
To sustain rupee-based trade, India has asked Russia to ease exports to narrow the widening trade deficit
ECONOMY
Over half of 54 monitored items show full or greater GST pass-through, but stationery lags behind
Toothbrush has seen the highest pass through of the GST rate cut with prices dropping by nearly 5 percent more compared to the expected figure of 6.25 percent, followed by dried fruits and clinical diapers.
BUSINESS
India won’t rush into FTAs without protecting farmers, MSMEs, says Piyush Goyal
Goyal added that the talks with the US are progressing well, while also stating that India does not negotiate any trade deals based on deadlines.
BUSINESS
India looks to diversify rare-earth supply via FTAs with Peru and Chile, startup-led processing
The ninth round of negotiations with Peru will be held from November 3 to 5, while a third round with Chile is planned for October 27 to 31. The South American countries are emerging as important sources of rare earths
BUSINESS
Trump tariffs dented India’s labour-intensive exports in September, but marine shipment defied odds
Unsurprisingly, exports of electronic goods, unaffected by Trump’s steeper tariffs, grew a massive 50.5 percent on-year to $3.1 billion last month, nearly double the growth registered in August.
BUSINESS
India-Canada FTA talks may resume only after EU, US deals close
Despite a thaw in diplomatic ties, the commerce ministry is prioritising ongoing FTA negotiations with several countries, making the resumption of FTA talks with Canada unlikely this year
BUSINESS
India sees room to add $14-15 bn annually in energy imports from US, says Commerce Secretary
An India team is in the United States this week to address issues around tariffs, Commerce Secretary Rajesh Agarwal said on October 15.
