BUSINESS
Expect India, US trade ties to keep growing irrespective of regime changes: Commerce Secretary
The US is India's largest trading partner, with annual trade exceeding $190 billion. Between FY20 and FY24, India's merchandise exports to the US rose by 46 percent, from $53.1 billion to $77.5 billion. Imports from the US also grew, from $35.8 billion to $42.2 billion, a rise of 17.9 percent.
BUSINESS
India's goods trade gap widens to $27.14 billion in October as imports outpace exports
Merchandise exports jumped 17.23 percent on-year to $39.2 billion in October, the quickest in 28 months thanks to stronger demand for Indian goods across key markets ahead of Christmas. Imports were higher by 3.9 percent during the same period.
BUSINESS
Govt mulls plugging FDI loopholes to shield kirana stores from q-commerce threat
The Centre is looking at sealing those gaps in its foreign direct investment policy for e-commerce, food and multi-brand retail that may be exploited by quick-commerce (q-commerce) platforms to their advantage.
BUSINESS
Inflation in nearly half of major states outgrows India's Oct CPI; price pressure steepest in Chhattisgarh
None of the 22 major states clocked rates that touched or fell below the RBI's medium-term target for consumer price index-based inflation of 4 percent
INDIA
India open to lifting tariffs on certain goods provided it does not hurt local manufacturing
Reacting to US President-elect Donald Trump's recent comments about India being a "tariff abuser", India's Finance Minister Nirmala Sitharaman said that the country is open to lifting duties on certain goods provided it does not hurt local manufacturing capacities given that domestic industries also have to be protected.
BUSINESS
Interview: If yuan weakens significantly, RBI will have to allow rupee to depreciate gradually, says ANZ’s Nitin Agarwal
According to Agarwal, Trump’s win in the US Presidential elections gives India’s central bank yet another reason to hold interest rates in December, the first being sticky food inflation.
BUSINESS
Repayment of Rs 4-lakh-cr Covid dues may drive up FY26 gross market borrowings
The government has taken steps to even out the impact of possibly higher gross borrowings through dated securities in FY26 by conducting switches and buybacks
BUSINESS
To counter slowing capex, Centre nudges ministries to spend more, plans relaxations
The Centre would try to achieve the capex target laid out in FY25, and going ahead expects a 'visible progress' in the pace of spending on infrastructure.
BUSINESS
No need to 'panic' on trade; incoming US govt policies may open newer doors for India: CEA Nageswaran
While, expressing comfort with his GDP growth projection of 6.5-7 percent for the current financial year, Nageswaran did not rule out the possibility of it being higher, rather closer to the central bank's projection
BUSINESS
Will Trump risk inflation to keep electoral promises?
Expectations of expansionary fiscal policies through tax cuts and higher tariffs under the Trump presidency could lead to steeper inflation back home and higher interest rates across the globe, triggering more foreign investment outflows from emerging markets like India.
BUSINESS
Piyush Goyal urges India Inc to facilitate quicker transition to electric mobility
Goyal added that those international players from Germany, Japan and South Korea who are not producing electric vehicles in India should be encouraged to make in India
BUSINESS
Indian trade to IT risk facing headwinds under Trump 2.0
In the run-up to the US presidential elections, Trump repeatedly called out India’s "high tariffs" and limited market access. His potential return is expected to lead to higher duties on key Indian goods shipped to American markets.
BUSINESS
India braces for tariff wars as Donald Trump looks on track to script a famous comeback
In the run-up to the election, Donald Trump repeatedly called India a 'tariff abuser' and vowed to introduce a reciprocal tax against New Delhi if elected to office
BUSINESS
India's private consumption rebound points to pick-up in rural demand
Private final consumption expenditure or PFCE, accelerated to a seven-quarter high of 7.4 percent in Q1 FY25 from 4.0 percent in Q4 FY24.
BUSINESS
Quick commerce on Govt radar; ministries assess impact on kirana stores
While a government source said that the issue is still in its early stages, taking any action at this time would be premature, as the industry is still embryonic. According to industry stakeholders, kiranas do not need protection, and there is a need for reskilling as technology advances.
BUSINESS
RBI, European market regulator close to resolving bond settlement deadlock
In October 2022, ESMA said it would de-recognise Clearing Corporation of India citing a lack of permit rights for audit and inspection of trades on CCI. Sources told Moneycontrol that talks between the RBI and ESMA have made progress.
BUSINESS
Finance ministry struggles to find credible use cases for crypto; to seek inputs from stakeholders
The ministry wants to ensure any policy around this asset class is well-balanced. This would be facilitated through a discussion paper, likely to be released by the end of next month.
BUSINESS
Piyush Goyal says India not against e-commerce, but wants fair play
The latest take is a significantly toned-down version from his August 21-speech wherein he said that the exponential growth of e-commerce in India is a matter of concern rather than pride given its impact on brick-and-mortar stores operating in the country.
BUSINESS
India may allow foreign investors from specific countries to raise capital in rupees
A senior government official said that allowing a resident foreign investor from a specific country to raise capital in India to invest in that nation is under discussion
BUSINESS
‘Make in India’ success runs through Chinese factories, manpower. What can the govt do?
New Delhi has been trying to limit cheap imports from countries such as China with the use of several policy measures, including tariff hikes and quality control orders. But such moves don’t augur well for the success of the key PLI scheme
BUSINESS
Amazon’s India investments only to fill balance sheet losses, no reason to celebrate: Piyush Goyal
Goyal also remarked that Amazon incurred huge losses because it follows predatory pricing.
BUSINESS
Volkswagen, Mercedes interested in manufacturing locally under new EV policy: Govt source
Both the German automakers already have significant presence in India even without utilising the EV policy. Mercedes-Benz runs an EV assembly line in Pune, and Volkswagen reportedly plans to assemble its maiden electric car for India, the ID.4, at its Aurangabad plant.
BUSINESS
India seeks review meet with UAE to discuss rules of origin under CEPA
The UAE-India Comprehensive Economic Partnership Agreement entered into force on May 1, 2022.
BUSINESS
ASEAN-India trade agreement review to be held in November in India
Separately, the ninth round of trade agreement negotiations with the EU will also be held in India in September
