BUSINESS
India hopes to close talks for 3 trade deals, including UK before general elections: Source
With talks for the India-Oman Comprehensive Economic Partnership Agreement largely concluded, authorities expect talks for the deal to close in January 2024. As for the UK-India FTA, the 14th round of talks is scheduled for next month
BUSINESS
No fresh trade pacts in 2023, but India could clinch Oman, UK FTAs in early 2024
According to GTRI’s Srivastava, India’s “Look West” policy will dominate its export strategy in 2024. Apart from that, new and emerging matters such as digital trade and sustainability will also be a key aspect of FTA talks going ahead
BUSINESS
Modi budget at 10: Did the Make-in-India Gir Lion roar?
While the Production-Linked Incentive scheme has done wonders for a handful of sectors, including electronics manufacturing, in many others, investments have been sluggish. In fact, the commerce ministry is working on reviewing the scheme to ensure better utilisation across sectors.
BUSINESS
Freebie culture: Political parties may not believe in fiscal discipline, but governments do: Montek Singh Ahluwalia
The veteran economist said that history shows that while political parties may make fiscally risky promises to win elections, they become more disciplined in government.
BUSINESS
Bilateral FTAs no solution, India needs to ink trade pacts with multi-nation blocs: Montek Singh Ahluwalia
In an interview to Moneycontrol, the former Deputy Chairman of the erstwhile Planning Commission said that he sees merit in India joining RCEP despite China’s presence in the mega trade pact.
BUSINESS
India needs to lower import duties to gain from global supply chain shift, says Montek Singh Ahluwalia
According to Ahluwalia, India cannot latch on to global supply chains if the country insist on maintaining higher import duties compared to other East Asian countries.
BUSINESS
India prefers duty cuts on EVs via FTA route with specific nations, says source
According to a statement by the finance ministry in the Parliament, currently there is no plan to exempt local value addition cost or to provide subsidy on EV imports.
BUSINESS
UK flags migration concerns as Delhi seeks easier visa norms in FTA, says source
India and UK are looking to balance migration and mobility concerns as both nations look to conclude talks for the Free Trade Deal sooner than later
BUSINESS
India's November goods trade gap narrows to $20.58 billion as gold imports more than halves
While goods exports fell 2.84 percent in November on year, imports fell by 4.35 percent during the same period on year.
BUSINESS
Food inflation may remain sticky at 7-9% on higher MSP, poll promise rollouts, says economist Ashok Gulati
Gulati termed measures such as placing export bans on key staples to keep a lid on prices outdated and flagged the need to deploy a new mix of policy steps to tame food inflation.
BUSINESS
Rajasthan’s CM designate Bhajanlal Sharma’s number one problem is inflation
In sharp contrast, Chhattisgarh’s incoming CM, BJP’s Vishnu Deo Sai, will be inheriting the governance of a state that has managed inflation better than almost all its peers with an average rate of just 2.76% so far in the current fiscal.
BUSINESS
MC Interview | Carbon pricing a double-edged sword, needs to be tackled at global level: World Bank economist Damania
Damania believes that India’s economy will continue to grow well over the historic rate of growth on account of its digital push.
BUSINESS
India has kept fiscal prudence as its top priority, says Nirmala Sitharaman
Citing the current government's focus on fiscal discipline, Sitharaman said that India is being noticed for its efforts to reduce public debt
BUSINESS
Debate over bank privatisation rages on, but experts say it is inevitable
The chief concern is that the government’s social schemes will be hit big time if PSBs turn private. On the other hand, there is a view that private banks today also contribute to social causes and support social schemes.
BUSINESS
AI-generated GST evasion notices stir human versus machine debate
As the tax authorities double down on ensuring compliance under the indirect tax regime, a key consequence has been the sheer number of notices received by the industry, with about 33,000 sent so far. One government official told Moneycontrol that AI is primarily responsible for the increase in detection of tax evasions, leading to the surge in the number of notices.
BUSINESS
Government will continue with supply-side steps to tame food prices if needed
Economic affairs secretary Ajay Seth also said he 'certainly agrees' with RBI's assessment on GDP growth. The RBI raised its GDP growth forecast for FY24 2023 by 50 basis points to 7 percent
BUSINESS
Accept global uncertainty as a given and invest now: CEA Nageswaran tells Indian corporates
His comments come at a time when private sector investment is expected to pick up significantly on the back of stronger corporate and bank balance sheets, supported by the government’s push for capital expenditure.
BUSINESS
Congress’s loss in 3 states confirms Old Pension Scheme was never a vote catcher
The Congress party lost in Rajasthan, Chhattisgarh and Madhya Pradesh, states where it had rolled out or promised a return to the Old Pension Scheme. However, it clinched victory in Telangana without the OPS guarantee.
INDIA
India could grow at 7% in the medium term if fall in exports is arrested: EY’s Srivastava
India's exports are facing hurdles from high global interest rates, which is affecting demand for Indian goods. New Delhi has been looking to tap less-explored regions to boost outbound shipments.
BUSINESS
India’s breakneck GDP growth rate risks losing momentum as rural demand continues to falter
Data shows weakness in the consumption story. Private final consumption expenditure was a let-down as growth nearly halved to 3.1% in Q2, from 6% in Q1. Another disappointment was the agriculture sector that grew a mere 1.2%, its slowest expansion in four and a half years.
BUSINESS
Cabinet approves terms of reference for 16th Finance Commission
The 16th Finance Commission will cover a period of five years starting April 1, 2026 and make its report available by October 31, 2025
BUSINESS
Exclusive: Finance ministry may assume nominal GDP growth at 11% for FY25
This assumption is on account of initial estimates that the real GDP growth may touch 7 percent in 2024-25, while the GDP deflator should not be less than 4 percent, an official told Moneycontrol
BUSINESS
India hopes to conclude FTA talks with UK by January, govt source says
With general elections about five months away, India is hoping to conclude talks for the long-pending FTA with UK by January 2024. This is seemingly an attempt to ensure there are no pauses in exchanges between the two sides.
BUSINESS
Tesla, EV peers may have to make it in India to secure policy sops: Sources
The Indian government is reportedly working on a new EV policy that would slash import taxes for companies that commit to some local manufacturing.
