BUSINESS
India has enough firepower to check dumping of Chinese goods: Official
China remained India's top import-source nation in FY24, accounting for 15.1 percent of total inbound shipments during the previous fiscal followed by Russia that was a distant second.
BUSINESS
India's merchandise trade deficit swells to $19.1 billion in April as gold imports triple
While exports rose by 1.1 percent from the year-ago period to $34.99 billion in April, imports shot up by 10.25 percent at $54.09 billion, the commerce ministry said on May 15
BUSINESS
India may become dumping ground for Chinese goods as US raises duties on EVs, chips: GTRI
Higher duties on Chinese face masks, syringes and needles, medical gloves and natural graphite provides a significant opportunity for India, GTRI also added
BUSINESS
All bets on timely, widespread rains to cool food inflation
The upcoming monsoon season is exceedingly important in terms of easing food prices given that the Reserve Bank of India (RBI) cannot do much to influence food supply management, Emkay Global's Madhavi Arora points out.
BUSINESS
Retail inflation marginally eases to 4.83% in April, but food prices continue to rise
Food inflation rose 8.7 percent in April, compared with a 8.52 percent rise in the previous month
BUSINESS
Not just China, Chabahar Port win may help India counter Suez crisis, delays in IMEC
According to India Ports Global (IPGL), Chabahar can emerge as a potential global trading hub – and an arena for geopolitical competition. It may also allow India and Iran to reduce their dependence on the Suez Canal for transporting cargo to Europe.
BUSINESS
India’s industrial output growth slows to 4.9% in March as mining production loses steam
For FY24, India's Index of Industrial Production (IIP) stood at 5.8 percent against 5.2 percent in the previous year.
BUSINESS
MC Poll: CPI inflation seen easing slightly to 4.8% in April
Even if inflation eases marginally in April, it will be the 55th month in a row that it would be above the RBI's medium-term target of four percent. The central bank is keen to bring it down to the target on a durable basis.
BUSINESS
Centre may marginally miss FY24 revised capex target
Since the pandemic, the Centre has been focusing on boosting expenditure on infrastructure in a bid to improve the quality of public expenditure. In fact, the push towards capex is expected to continue in FY25 with the government allocating Rs 11.1 lakh crore.
BUSINESS
CPI inflation should continue to head towards 4% target: CEA Nageswaran
Speaking on the trajectory of headline retail inflation, Nageswaran said that at the moment there is no scope "for nasty upside surprises".
BUSINESS
India, Ghana agree to operationalise UPI in 6 months
UPI payments can already be made in countries such as France, UAE, Sri Lanka and Mauritius
BUSINESS
Ram Mandir visits, aggressive capex drive Uttar Pradesh's impressive GST revenue growth in April
According to Pratik Jain, Partner and National Leader for Indirect Tax in PwC, UP’s focus on capital expenditure may be boosting its revenues, especially given roads and infrastructure construction involves GST levies on several levels such as contractors and cement that adds to the state’s kitty.
BUSINESS
India’s heat stroke-inducing summer is boosting its GST treasure chest
Experts believe that the record-high GST collections for April can be connected to various demands arising from hotter summers as more Indians purchased air conditioners and executed that long-pending trip to cooler destinations.
BUSINESS
Congress apprenticeship scheme could generate jobs for India's burgeoning youth, economists say
Rathin Roy, Visiting Senior Fellow at global affairs think tank ODI says the new apprenticeship scheme could be a step towards addressing India’s skilling challenge by incentivising labour and may roughly cost a modest Rs 1 lakh crore annually.
BUSINESS
Escalating quality concerns threatens half of India's spice exports: GTRI
The private trade research think tank warns that If China, and other ASEAN nations follow suit influenced by the actions taken by Hong Kong and Singapore, it could impact 51.1 percent of India’s global spice exports, valued at $2.17 billion.
BUSINESS
Fintechs, law enforcement agencies mull ways to address digital fraud, cyber security challenges
Heads of around 60 fintech companies, four fintech associations, 23 states' police departments, CBI, ED, FIU-India, central government ministries and departments, regulators and other concerned agencies participated in the workshop
BUSINESS
Any inheritance tax in India risks flight of wealth from the country, says economist Ashwani Mahajan
Mahajan said India cannot follow the footsteps of the UK and the US when it comes to taxing the rich given that India both economically as well as culturally is different from the West.
BUSINESS
Push towards EVs could increase India's import dependence on China
While India's import of industrial goods, including telecom, electronics and pharmaceutical products, from China soared 215.3 percent rising from $25.3 billion during 2007-10 to $79.7 billion in 2020-22, inbound shipments from the rest of the world grew by only 94.5 percent during the same period, according to report by think tank GTRI.
BUSINESS
High debt, low capex spend dominates Bengal’s economic profile
The state’s economic indicators are respectable, but it has not been able to woo investments and keep a lid on debt levels.
BUSINESS
Fin Min monitoring oil price impact due to potential revival in China's economy: Official
For a while now oil prices have mostly stayed below $90 a barrel thanks to subdued economic data from China, given that weak domestic demand lowers Beijing’s gigantic requirement for crude. And this to an extent compensated for the impact of tensions in the Middle East.
BUSINESS
Exclusive: India may not extend EV policy concessions to Chinese firms like BYD on national security concerns
According to a senior government official, India’s FDI rules imply that any country sharing land border with it can only invest under the government route. The policy discourages any direct investments from China .
BUSINESS
India sees Tesla alone achieving 50% domestic value addition for EVs in less than 3 years: Official
Given India's strong auto components ecosystem, the government is confident of achieving the target for value addition comfortably, before the stipulated time. The EV policy mandates 50% domestic value-addition, within a maximum of 5 years.
BUSINESS
Deep tech startup policy likely in new govt’s 100-day agenda; PLI scheme overhaul may have to wait
Reviewing and expanding the Production Linked Incentive (PLI) scheme may feature in a broader five-year roadmap.
BUSINESS
India hopes Musk’s potential entry goes beyond Tesla; include battery tech, Starlink, says DPIIT Secy
In an exclusive interview to Moneycontrol, Rajesh Kumar Singh said the tax cut offered via the EV policy cannot be termed as 'concessional'
