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.
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
