BUSINESS
Trump 2.0: India has to brace itself for a rough rupee ride, trade tantrums
From potentially tougher trade stance to the flight of foreign capital, India has a lot to brace itself for ahead of Trump 2.0, albeit with a silver lining around the China plus one strategy.
BUSINESS
India's auto components industry comfortable with FTA concessions, says Piyush Goyal
The commerce minister warned the automobile industry from depending heavily on imports, especially on countries that indulge in non-transparent economic practices.
BUSINESS
US sanctions on oil tankers may hit India’s rupee trade ambitions with Russia
India will take a call on shifting to other sources for its crude oil requirements after studying the fine-print of the latest sanctions by US on Russia's energy sector. The sanctions will be supervised by the incoming Trump administration.
BUSINESS
Second round of checks underway to plug any gaps in petroleum, electronics trade data: Govt source
This scrutiny, being jointly conducted by the Directorate General of Commercial Intelligence and Statistics (DGCIS) and the Central Board of Indirect Taxes and Customs (CBIC), is likely to conclude within a month, said an official on the condition of anonymity.
BUSINESS
India, UK looking to resume FTA talks early next month
The commerce ministry also informed that the 10th round of negotiations for the proposed FTA between India and European Union is scheduled between 10-14 March in Brussels.
BUSINESS
India's goods trade deficit narrows to 3-month low of $21.94 bn in December
However, the trade deficit in goods was wider on-year for December 2024 versus $18.76 billion during the same month last fiscal.
BUSINESS
Budget 2025: Centre may rejig customs duty on some electronics inputs
The government may consider import duty rejigs specifically for components or inputs that have limited potential when it comes to make in India.
BUSINESS
90-hour work week: Overworking Indians won’t guarantee country’s growth
Economists say there is no correlation between working longer hours and a country's economic prospects, in fact, practices like 90-hour work weeks could lead to lower productivity and consequently lower GDP growth.
BUSINESS
Budget 2025: Trade think tank GTRI bats for cut in average import tariff to 10%
While Trump's label of India as a "tariff king" may be exaggerated, a strategic review of import duties could benefit the country by supporting low-cost, value-added manufacturing and trade, GTRI said.
BUSINESS
Many Indian start-ups returning home buoyed by angel tax removal, says DPIIT Secy
In the Budget for FY25, Finance Minister Nirmala Sitharaman announced the decision to abolish angel tax for all classes of investors
BUSINESS
Double-counting of shipments inflated gold imports, says commerce ministry
On noticing unusual surge in imports of precious metals, the Centre conducted a reconciliation exercise wherein it was observed that due to migration of data pertaining to SEZs (special economic zones) to the ICEGATE (Indian Customs EDI Gateway) system, figures of precious metals needed revision, the commerce ministry said.
BUSINESS
2024 general elections saw 1.8 crore more female voters, thanks to women-centric schemes: SBI Research
Based on the data released by the Election Commission of India, the SBI research report concluded that total electors increased from 83.4 crore in 2014 to 97.8 crore in 2024, with female electors catching up with their male counterpart. Currently, for every 100 male electors there are 95 female voters
BUSINESS
Govt must explain huge revision in November gold import data, says GTRI
The government must proactively review trade data to ensure that this is an isolated case and not indicative of a broader data accuracy problem, GTRI's founder Srivastava said.
BUSINESS
Union Budget 2025: Time ripe for a tax cut for India’s salaried class
A more pronounced slowdown in urban consumption and high food inflation have solidified calls for lowering the burden on India’s salaried class, which could in turn spur demand and boost overall economic activity.
BUSINESS
Plans to expand textiles PLI to garments likely on hold
Textiles minister Giriraj Singh had said in 2024 that the government was considering extending the PLI scheme for textiles to garments to boost manufacturing and exports
BUSINESS
India's EV ecosystem doesn't need new incentives or subsidies, says Piyush Goyal
Several issues including charging and batter swapping infrastructure were discussed in a meeting between stakeholders from the EV sector and Goyal on January 3
BUSINESS
No law should be broken, says Piyush Goyal on Blinkit's ambulance foray
To a question on kirana stores losing business to the rapid expansion of quick deliveries by online platforms, Goyal said the government has been monitoring the development
BUSINESS
Muted spending may aid Centre meet its deficit target, but risks dampening consumption
Capex for the first eight months of FY25 fell 12 percent to Rs 5.1 lakh crore, well below the budgeted target of Rs 11.11 lakh crore.
BUSINESS
Why India needs more FTAs in an era of disruptions and rising protectionism
India sealed only one trade agreement with the European Free Trade Association (EFTA) in 2024, but a bunch of these agreements are in the pipeline. Experts say bilateral pacts could help merchandise exports that has been lagging compared to services.
BUSINESS
India Inc seeks higher capex, lower tax rates in FY26 Budget
CII also suggested reducing the excise duty on fuel and increasing in the minimum wage rate under the Mahatma Gandhi National Rural Employment Guarantee Scheme to boost consumption.
BUSINESS
India, Australia goods trade slows to $16.3 billion in FY25 so far
"Both the parties are committed to building on the momentum created by the ECTA, driving deeper economic integration and to achieve the target of trade to reach AUD100 billion by 2030 between India and Australia," the commerce ministry said.
BUSINESS
Current account deficit narrows marginally to 1.2% of GDP in Q2FY25
However, during the first half of the current fiscal (April-September), the current account deficit remained flat at 1.2 percent or $21.4 billion on a year-on-year basis.
BUSINESS
India may eventually mandate security parameters for laptop, PC imports
This could be similar to the step taken for closed-circuit television (CCTV) cameras that mandates "essential security parameters" for all CCTV cameras from April 2025.
BUSINESS
RBI stance, corporate hirings may have led to demand slowdown: Finmin
Farm sector's outlook is optimistic, which gives hopes that food price pressures will decline gradually, the finance ministry's monthly economic review for November 2024 said
