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
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
