BUSINESS
Muted spending may aid Centre meet its deficit target, but risks dampening consumption
Capex for the first eight months of FY25 fell 12 percent to Rs 5.1 lakh crore, well below the budgeted target of Rs 11.11 lakh crore.
BUSINESS
Why India needs more FTAs in an era of disruptions and rising protectionism
India sealed only one trade agreement with the European Free Trade Association (EFTA) in 2024, but a bunch of these agreements are in the pipeline. Experts say bilateral pacts could help merchandise exports that has been lagging compared to services.
BUSINESS
India Inc seeks higher capex, lower tax rates in FY26 Budget
CII also suggested reducing the excise duty on fuel and increasing in the minimum wage rate under the Mahatma Gandhi National Rural Employment Guarantee Scheme to boost consumption.
BUSINESS
India, Australia goods trade slows to $16.3 billion in FY25 so far
"Both the parties are committed to building on the momentum created by the ECTA, driving deeper economic integration and to achieve the target of trade to reach AUD100 billion by 2030 between India and Australia," the commerce ministry said.
BUSINESS
Current account deficit narrows marginally to 1.2% of GDP in Q2FY25
However, during the first half of the current fiscal (April-September), the current account deficit remained flat at 1.2 percent or $21.4 billion on a year-on-year basis.
BUSINESS
India may eventually mandate security parameters for laptop, PC imports
This could be similar to the step taken for closed-circuit television (CCTV) cameras that mandates "essential security parameters" for all CCTV cameras from April 2025.
BUSINESS
RBI stance, corporate hirings may have led to demand slowdown: Finmin
Farm sector's outlook is optimistic, which gives hopes that food price pressures will decline gradually, the finance ministry's monthly economic review for November 2024 said
BUSINESS
How did India's top economic policymakers steer the economy through 2024?
Sanjay Malhotra was appointed as the 26th Governor of the RBI on December 11, after serving as Revenue Secretary from December 2022 to 2024.
BUSINESS
From popcorn to parathas: Various complexities of India’s GST regime
The 'popcorn tax', where the sugared version of the snack attracts a higher levy, has reignited the debate for a less complex, flatter structure for the GST regime.
BUSINESS
Imports from China used to push up exports from India, says MoS Commerce Jitin Prasada
Prasada added that a fall in commodity prices of petroleum, coal, and others have also contributed to muted merchandise exports in value terms in the current fiscal so far.
BUSINESS
Year 2024: Sticky food inflation and stingy consumption
The spike in food inflation coincided with an election year when expenditure by the government typically slows down, a trend seen especially in the first half of the current financial year ending March 2025. This pulled down private consumption, especially in urban areas.
BUSINESS
Non-tariff barriers impeding trade, India tells EU as part of FTA talks
"Following nine rounds of intensive negotiations, FTA discussions require strategic political guidance to conclude a commercially significant and mutually beneficial agreement," Goyal told his EU counterpart
BUSINESS
Conditions apply - Handful of IT firms may face import restrictions on laptops, PCs
The Centre may start implementing a reduction in the import limit by 5 percent for certain entities keeping in view efforts to boost local production and exports. This intent has been “orally communicated” to companies, but found no mention in the Commerce Ministry notification.
BUSINESS
Commerce Ministry examining Nov gold imports surge; data likely to be reconciled, sources say
Gold imports jumped nearly 50 percent on-year in November 2024 to $49.08 billion after the government reduced the custom duty to 6 percent from 15 percent in July.
BUSINESS
FM Sitharaman bats for capex over cash transfer to boost consumption
Sitharaman's comments come at a time when many states, amid elections, have announced and implemented cash-transfer schemes for key demographics, especially women.
BUSINESS
Services exports continue to ease India’s trade deficit woes
At a time when India’s merchandise trade deficit widened to a historical high in the last month, services remained resilient with outbound shipments expected to outstrip the record increase of $34.31 billion in October.
BUSINESS
India, UK FTA talks will resume in January, says Commerce Secretary Barthwal
Talks for the trade deal between India and Britain were put on hold in March 2024 as both countries back then were awaiting the conclusion of their respective general elections.
BUSINESS
Trade deficit hits a record high of $37.84 billion in November
"Unprecedented fall in petroleum products prices have pulled down goods exports in November," Commerce Secretary Sunil Barthwal told reporters during a briefing detailing the trade figures for the previous month.
BUSINESS
Swiss withdrawal of MFN status to raise costs for some Indian pharma, IT firms: GTRI
Indian firms operating in Switzerland will have to pay a 10-percent tax on dividends and other incomes from January 1, 2025, higher than the earlier rate of 5-percent.
BUSINESS
Barring few sectors, India can open up to investments from China, says Arvind Panagariya
When asked if he supports the suggestion from the Economic Survey for 2023-24 that pitched for more FDI from China, Panagariya said, 'The answer is a qualified yes...'
BUSINESS
EU keen on balanced FTA involving India's edge in services, says commerce secretary
Separately, the Union Minister of Commerce and Industry Piyush Goyal on December 12 highlighted the need for political directions to arrive at a commercially meaningful FTA between India and EU while understanding the sensitivities of each other.
BUSINESS
Govt extends laptop import management system by a year
The government introduced this 'import management system,' requiring IT hardware companies to register and report data related to their imports back in September, after it rolled back a decision to implement a licensing regime to curb such inbound shipments
BUSINESS
India Inc push to hike tariffs raises questions on country's competitive edge: DPIIT's Bhatia
The DPIIT secretary said the government is working on sector-specific interventions to deepen the startup movement in the country
BUSINESS
Make in India: Centre shifts focus to sector-tailored schemes amid low PLI fund utilisation
The change in approach comes amid a less than 10-percent utilisation of the funds allocated (Rs 1.97 lakh crore) in the PLI scheme since its inception. The output-linked plan “is one set of policy recommendations that should not be repeated in every sector,” said a government official.
