BUSINESS
De-dollarisation not on the table, says RBI governor on Trump's BRICS tariff threat
India is only looking to de-risk domestic trade from geo-political upheavals, dependence on one currency can be problematic, Shaktikanta Das has said
BUSINESS
RBI, Economic Survey now closer than ever on sub-7% GDP growth projection for FY25
Earlier, the RBI saw GDP growth at 7.2 percent for the current fiscal, which was 20 basis points higher than the Economic Survey’s most optimistic prediction of 7 percent.
BUSINESS
Centre may seek higher share in tax devolution from 16th Finance Commission
The Centre’s demand for a larger chunk in the devolution pie could very well be at crosshairs with states, with some seeking a hike in their stakes in the divisible pool of taxes to as much as 50 percent
BUSINESS
INR still best performing Asian currency; rupee fall may aid export competitiveness: Fin Min
Minister of State for Finance Pankaj Chaudhary said in the current year, the INR has depreciated by 1.4 percent till November 19, 2024 against the US dollar, but despite the recent fall, the rupee remains one of the best-performing Asian currencies.
BUSINESS
PRAGATI platform helped accelerate 340 projects worth $205 billion, says Oxford study
The Chenab Bridge in J&K, the Bogibeel Bridge over the Brahmaputra and the Jal Jeevan Mission are among the projects that PRAGATI helped fast-track, the study by Saïd Business School and the Gates Foundation has said
BUSINESS
Trump’s BRICS 'sucker' punch may be premature, but India needs a balancing act
While India has been attempting to boost the use of local currencies to address global trade-related disruptions, Trump’s latest tariff threat to safeguard the US dollar as the world's reserve currency warrants a careful approach to protect New Delhi's role in BRICS as well as its strategic partnership with America.
BUSINESS
'Act Now': Policy lessons from Q2's 5.4% GDP growth
Economists highlight the need to ramp-up spending by governments given that tight monetary and fiscal policies may not deliver India's potential rate of growth.
BUSINESS
Private consumption growth slows down to 6% in Q2FY25
The Private Final Consumption Expenditure (PFCE) saw a growth rate of 6% and 6.7% respectively in Q2 and H1FY25 compared to last year.
BUSINESS
Indian pharma, textiles may gain from Trump's tariffs on China, Mexico, Canada
However, retaliatory or pre-emptive actions from countries as seen in the case of Beijing could also harm certain Indian sectors like the nation’s solar panel industry.
BUSINESS
Need stronger political directions to conclude FTA with EU early: India tells France
Goyal on November 27 held discussions with Sophie Primas, Minister Delegate of France for Foreign Trade and French Nationals Abroad on trade, investment and other issues of mutual interest.
BUSINESS
India, France trade 'quite suboptimal', can grow better, faster: Piyush Goyal
The minister listed out several sectors where India and France can collaborate on including technologies related to electric vehicles, renewable energy and food security.
BUSINESS
MC explains: Should India join RCEP?
More than five years after India decided to drop out of the Regional Comprehensive Economic Partnership (RCEP), conversations on the merits of reconsidering this decision are picking up.
BUSINESS
Likely higher tariffs on China by Trump may lead to only short-term gains for India: ICC chair Philippe Varin
Varin warns against measures that could lead to a tariff war between the US and China since it will adversely impact global trade. He urges countries to take their time before implementing levies such as the EU’s CBAM.
BUSINESS
Cabinet note on electronics component scheme likely next month, may allow JVs with Chinese firms
The new policy is expected to focus more on operational subsidies, aligning with finance ministry's preference for PLI schemes, which are tied to specific achievements
BUSINESS
FM Sitharaman says Q-commerce can be leveraged globally to boost brand India; recognises need to support kiranas
Sitharaman's comments on this matter come at a time when there has been an intense debate around the impact of the rapid expansion of quick-commerce platforms on India's brick and mortar retail stores.
BUSINESS
India needs FTAs with better market access to capitalise on 'China plus one': RBI bulletin
It is estimated that India’s total imports from FTA partners (ASEAN, UAE, SAFTA, Australia, South Korea, Japan, Mauritius) increased by 37.9 percent while exports grew only 14.5 percent, according to the RBI Bulletin
BUSINESS
India looking to iron out issues for expeditious close of FTA with UK
The statement from commerce ministry comes after Prime Minister Narendra Modi and his British counterpart Keir Starmer met on the sidelines of the G20 summit and decided to resume FTA talks in 2025
BUSINESS
Success of Apple, Hyundai prompts India to push for tech transfers, competitive tariffs in more sectors
Chemicals, capital goods and leather have emerged in initial discussions as sectors where India could emulate its success in smartphones and automobiles that has seen an increase in local production and thereby exports. These deliberations are presently at a nascent stage and a final call will depend on several domestic and global factors.
BUSINESS
RCEP is effectively an FTA with China, says Commerce Minister Piyush Goyal
Goyal's comment on FTAs comes days after Niti Aayog CEO BVR Subrahmanyam asked India to consider being part of RCEP.
BUSINESS
E-commerce companies should respect FDI laws, says Piyush Goyal
The minister's comments come amid growing concerns for kirana stores, with a survey projecting that $1.28 billion in sales is expected to shift from mon-and-pop stores to quick commerce platforms in 2024 alone
BUSINESS
Municipalities in poll-bound Maharashtra are flush with funds, shows RBI report
The RBI report on municipal finances shows that 10 municipalities across the country account for the lion’s share in revenue receipts with those in Maharashtra boasting a revenue surplus of Rs 11,104 crore as per the budget estimates for FY24.
BUSINESS
India may not get a Drone 2.0 PLI before FY26 as consultations around allocation, local sourcing throw up challenges
MoCA plans to prepare a new cabinet note on the PLI scheme for drones by February 2025, following which. it will be sent for approval.
BUSINESS
India may rely more on quality controls, anti-dumping duties if tariff wars heat up
Retaliatory tariffs to counter trade barriers or higher duties by other nations would be the "last option" for India.
BUSINESS
India hopes to soon hear from UK on resuming FTA talks: Commerce Secretary
UK and India have been negotiating an FTA since January 2022 under the previous Conservative-led government. The current Labour Party government too has expressed desire to continue these talks.
