BUSINESS
India looking to iron out issues for expeditious close of FTA with UK
The statement from commerce ministry comes after Prime Minister Narendra Modi and his British counterpart Keir Starmer met on the sidelines of the G20 summit and decided to resume FTA talks in 2025
BUSINESS
Success of Apple, Hyundai prompts India to push for tech transfers, competitive tariffs in more sectors
Chemicals, capital goods and leather have emerged in initial discussions as sectors where India could emulate its success in smartphones and automobiles that has seen an increase in local production and thereby exports. These deliberations are presently at a nascent stage and a final call will depend on several domestic and global factors.
BUSINESS
RCEP is effectively an FTA with China, says Commerce Minister Piyush Goyal
Goyal's comment on FTAs comes days after Niti Aayog CEO BVR Subrahmanyam asked India to consider being part of RCEP.
BUSINESS
E-commerce companies should respect FDI laws, says Piyush Goyal
The minister's comments come amid growing concerns for kirana stores, with a survey projecting that $1.28 billion in sales is expected to shift from mon-and-pop stores to quick commerce platforms in 2024 alone
BUSINESS
Municipalities in poll-bound Maharashtra are flush with funds, shows RBI report
The RBI report on municipal finances shows that 10 municipalities across the country account for the lion’s share in revenue receipts with those in Maharashtra boasting a revenue surplus of Rs 11,104 crore as per the budget estimates for FY24.
BUSINESS
India may not get a Drone 2.0 PLI before FY26 as consultations around allocation, local sourcing throw up challenges
MoCA plans to prepare a new cabinet note on the PLI scheme for drones by February 2025, following which. it will be sent for approval.
BUSINESS
India may rely more on quality controls, anti-dumping duties if tariff wars heat up
Retaliatory tariffs to counter trade barriers or higher duties by other nations would be the "last option" for India.
BUSINESS
India hopes to soon hear from UK on resuming FTA talks: Commerce Secretary
UK and India have been negotiating an FTA since January 2022 under the previous Conservative-led government. The current Labour Party government too has expressed desire to continue these talks.
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.
