BUSINESS
Fintechs, law enforcement agencies mull ways to address digital fraud, cyber security challenges
Heads of around 60 fintech companies, four fintech associations, 23 states' police departments, CBI, ED, FIU-India, central government ministries and departments, regulators and other concerned agencies participated in the workshop
BUSINESS
Any inheritance tax in India risks flight of wealth from the country, says economist Ashwani Mahajan
Mahajan said India cannot follow the footsteps of the UK and the US when it comes to taxing the rich given that India both economically as well as culturally is different from the West.
BUSINESS
Push towards EVs could increase India's import dependence on China
While India's import of industrial goods, including telecom, electronics and pharmaceutical products, from China soared 215.3 percent rising from $25.3 billion during 2007-10 to $79.7 billion in 2020-22, inbound shipments from the rest of the world grew by only 94.5 percent during the same period, according to report by think tank GTRI.
BUSINESS
High debt, low capex spend dominates Bengal’s economic profile
The state’s economic indicators are respectable, but it has not been able to woo investments and keep a lid on debt levels.
BUSINESS
Fin Min monitoring oil price impact due to potential revival in China's economy: Official
For a while now oil prices have mostly stayed below $90 a barrel thanks to subdued economic data from China, given that weak domestic demand lowers Beijing’s gigantic requirement for crude. And this to an extent compensated for the impact of tensions in the Middle East.
BUSINESS
Exclusive: India may not extend EV policy concessions to Chinese firms like BYD on national security concerns
According to a senior government official, India’s FDI rules imply that any country sharing land border with it can only invest under the government route. The policy discourages any direct investments from China .
BUSINESS
India sees Tesla alone achieving 50% domestic value addition for EVs in less than 3 years: Official
Given India's strong auto components ecosystem, the government is confident of achieving the target for value addition comfortably, before the stipulated time. The EV policy mandates 50% domestic value-addition, within a maximum of 5 years.
BUSINESS
Deep tech startup policy likely in new govt’s 100-day agenda; PLI scheme overhaul may have to wait
Reviewing and expanding the Production Linked Incentive (PLI) scheme may feature in a broader five-year roadmap.
BUSINESS
India hopes Musk’s potential entry goes beyond Tesla; include battery tech, Starlink, says DPIIT Secy
In an exclusive interview to Moneycontrol, Rajesh Kumar Singh said the tax cut offered via the EV policy cannot be termed as 'concessional'
BUSINESS
Musk likely to announce Tesla's India entry after meet with Modi on April 22
To be sure, a general announcement is likely rather than a site-specific one pending a Tesla board approval for the location of a plant in India.
BUSINESS
Can India weather the impact of geopolitical challenges on trade in FY25 as it did last year?
The narrowing of India's trade deficit in FY24 is largely attributed to a reduction in net imports of oil, chemicals, ores and minerals. But the recent uptick in crude prices owing to the flare-up in the conflict in the Middle East may pose a risk to the country's external balances going ahead.
BUSINESS
Indian team to head to UK this week to resolve pending FTA issues
For the proposed FTA between India and European Union (EU), the 8th round of talks may take place in May or June 2024 in Brussels.
BUSINESS
India's trade ministry open to remedial steps if Israel-Iran conflict prolongs
On April 13, Iran fired over 300 drones and missiles at Israel, calling the attack a retaliation to a strike on its consulate in Syria, allegedly by Israel, earlier in the month.
BUSINESS
March trade deficit shrinks to 11-month low as gold import more than halves
The previous fiscal year was difficult from a trade point of view not only due to the Ukraine war, but also because of other conflicts emerging. However, India has beaten all the odds, Commerce Secretary Sunil Barthwal said.
BUSINESS
Fin Min says concerns around India-Mauritius tax treaty tweaks premature
The IT department on April 12 said that the protocol facilitating the amendments in the tax treaty is yet to be ratified and notified under the Income Tax Act, and queries, if any, will be addressed as and when that happens.
BUSINESS
India's retail inflation eases to a 10-month low of 4.85% in March
The latest inflation data comes a week after the RBI's Monetary Policy Committee (MPC) on April 5 announced the decision to keep the policy repo rate unchanged at 6.5 percent for the seventh consecutive time
BUSINESS
8th round of India-Peru Trade Agreement talks likely in June 2024
India and Peru recently concluded the seventh round of talks for a proposed free trade agreement that took place in New Delhi, India from April 8 to April 11, 2024, according to an official release on April 11.
BUSINESS
What voters should know – How Modi government fared on food prices
Food inflation in the last 14 months hovered around 7 percent on an average, with prices of key vegetables such as onions and tomatoes more than doubling. This has been an outcome of demand, supply mismatches even as the government remained pre-emptive in its actions with measures ranging from export bans to subsidising the cost of staples.
BUSINESS
CII chief R Dinesh bats for land, labour reforms to keep up economic growth
CII President prescribed higher spending on health and education, GST rationalisation, focus on MSMEs and an employment-incentive scheme to create jobs
LOK-SABHA-ELECTION
General Elections 2024: What is on the minds of India's women voters?
From religion to jobs to Brand Modi – several metrics have emerged as front runners on what clicks for India’s female voters.
BUSINESS
Das says RBI does not follow the Fed; economists think otherwise
Beyond the lack of clarity on US Fed action, there are two more risks to the RBI’s timeline on rate cuts -- the recent uptick in crude oil prices, and higher temperatures seen in April-June.
BUSINESS
Why is the rupee falling?
ANZ's Nitin Agarwal sees the rupee's move towards record lows to be a temporary phenomenon, if the Chinese yuan stabilises with INR expected to hover around 83.60-83.65 levels, assuming no further movement in global factors.
BUSINESS
MC Exclusive: The inside track on BJP government’s white paper on Indian economy
The decision to release a white paper on the Indian economy, which strongly criticised the UPA’s stewardship of the economy, was taken very close to the interim Budget and was put together in around a week.
TRENDS
ED, I-T actions on Kejriwal, Congress spark election conduct debate. Can the Election Commission step in?
Amid opposition concerns about their impact on fair elections, former Election Commission officials are of the view that the poll body is empowered to intervene if the actions of ED and income tax department substantially disrupt the level playing field.
