BUSINESS
Tesla and beyond: India bets on EV policy sops to attract global players
India has already taken steps to push for the adoption of EVs, including PLI schemes on advanced chemistry cells, automobiles and automobile components, even as the GST on EVs was reduced to 5 percent from 12 percent.
BUSINESS
India-UK FTA: Majority of outstanding issues moving towards resolution
"Both sides are actively engaged in talks, and both sides want a fair, equitable deal. Negotiators are still negotiating. We are waiting for talks to conclude," Commerce Secretary Sunil Barthwal said.
BUSINESS
More than half of major Indian states are facing higher rural inflation vs urban
Odisha saw the highest combined retail inflation rate for February 2024 at 7.55 percent, followed by Telangana and Haryana. While, at 2.42 percent, India’s capital Delhi witnessed the least amount of price pressures among the major states and union territories.
BUSINESS
Modi, Sunak reaffirms commitment to conclude India-UK FTA talks at the earliest
India's commerce ministry on February 15 said that majority of the chapters in the India-UK FTA are either closed or are at advanced stages of negotiations
BUSINESS
India-EFTA trade deal may take at least a year to get implemented: Official
The delay is likely to be on account of the referendum that Switzerland may conduct, with its people voting on whether to clear the India-EFTA deal. The deal, which was first proposed in 2008, was finally signed on March 10, after 21 rounds of negotiations
INDIA
Breaking down EFTA's $100-billion investment promise to India
The fine print of the trade pact shows that India may take remedial measures to rebalance the concessions given to the EFTA states if the pace of the FDI flowing in is not in line with the commitment made.
INDIA
Swiss watches, chocolates set to get cheaper for Indians
As part of the trade deal with EFTA, India will reduce basic customs duties on chocolates and on wrist as well as pocket watches originating from Switzerland. The levy will be brought down to zero in equal instalments over a seven-year period.
BUSINESS
India, EFTA ink trade deal with investment promise of $100 billion
This comes as a win for the Indian government that was looking to push through a trade deal before the general elections between April and May 2024.
BUSINESS
Amid global trade disruptions, India extends export incentives to firms in SEZs
Keeping budgetary allocation in view, the extension of RODTEP to these additional sectors is presently applicable till September 30, 2024 30.09.2024. This move is expected to benefit sectors, including engineering, textiles, chemicals, pharmaceuticals and food processing.
BUSINESS
India, Oman FTA talks may not conclude before election dates are announced: Official
With talks on the India-Oman Comprehensive Economic Partnership Agreement (CEPA) largely closed, authorities were aiming to sign the deal before the Lok Sabha scheduled for April-May 2024.
BUSINESS
From Kaizen to Make in India: A look at India-Japan ties amid Jaishankar's tour
During Jaishankar's visit to Japan, discussions with his counterpart Yoko Kamikawa will include areas pertaining to defence, semiconductor supply chains, clean energy, and high-speed rail, among others.
BUSINESS
India-UK FTA talks unlikely to conclude before Lok Sabha polls: Official
A British delegation is currently in New Delhi to meet commerce ministry officials as both sides aim to resolve difference over key aspects of the proposed FTA in an attempt to close talks before elections in India, scheduled in April-May 2024.
BUSINESS
Direct benefit transfer: Fertilisers, food account for more than half of payouts this fiscal
Until March 2022, DBT has resulted in a total savings of Rs 1.35 lakh crore in food subsidies, with 42 million duplicate or non-existent beneficiaries weeded out. DBT removed 41 million fake LPG connections. 10.8 million families who have opted to ‘give up’ LPG subsidies.
INDIA
India's population panel may focus on arresting fast ageing, extending demographic dividend
The population committee may also look at fertility patterns across states to target incentives to those areas that exhibit a lower rate of child birth. Uneven fertility rates across the country also mean uneven demographic dividends.
BUSINESS
WTO’s failure to reach consensus on farm, fisheries may be a win for India
While certain WTO members have expressed concerns over India's MSP scheme for key agricultural products, and export restrictions on commodities such as rice, New Delhi maintains that the country has to protect the interests of the poor and vulnerable farmers, and take care of its domestic food security needs.
BUSINESS
WTO: Moratorium on e-commerce tariffs extended by 2 years; 2024-end eyed for dispute settlement reforms
Both of these decision did not go India's way. While the South Asian nation was pushing for a resolution on WTO's dispute resolution mechanism by MC13, it also, initially, wanted an end to the moratorium on levying customs duties on digital goods.
BUSINESS
FM says India's stand on MSP unchanged despite objection from some WTO members
Some WTO members have raised concerns over the country's MSP scheme on key agricultural products, as well as the recent export restrictions on commodities such as rice, citing that it distorts market prices.
BUSINESS
WTO's Abu Dhabi MC13 extended on lack of consensus on key issues
Key outstanding issues at MC13 includes, finding a resolution on the dispute settlement reform, consensus on fisheries subsidies, and ironing out differences on the moratorium on imposing customs duties on digital goods.
BUSINESS
India's world-beating GDP growth spurs exuberance, but sustaining it remains key
Though the growth rate unexpectedly accelerated to 8.4 percent in the December quarter, economists pointed out the divergence between GDP and Gross Value Added (GVA), which was primarily due to a rise in net tax collections and a sharp decline in subsidy spending.
BUSINESS
India has less to lose versus NATO nations if Trump comes to power: Dhruva Jaishankar of ORF
India does have a trade surplus with the US but its economy is not as dependent on that trade with the US, says the Executive Director of Observer Research Foundation America.
BUSINESS
India asks WTO to re-examine moratorium on customs duties on digital goods
India has been for long pushing to end a moratorium on customs duties on digital goods citing that such a levy tends to benefit a few developed nations.
BUSINESS
India calls for restoring WTO's Appellate Body at MC13
A decision by the US to block appointments of new members to the Appellate Body has stalled this entity's functioning since December 2019. This has called into question the WTO’s overall credibility and the rules-based trade-order it upholds.
BUSINESS
Indian green bonds may see better demand, greenium on JP Morgan inclusion
The finance ministry is not impressed by the 'greenium', or green premium, on its green bond issuances, which was just 2 basis points on average across all issuances in the current fiscal. Higher demand for this instrument could provide a fillip to India’s push for a sustainable economy.
BUSINESS
India bats for removing curbs on giving subsidies to poor fishers at WTO
At MC13, New Delhi again urged WTO members to introduce a moratorium on subsidies by Distant Water Fishing Nations for fishing or fishing related activities beyond their EEZs for a period of at least 25 years. India said that the members should not lose sight of the harmful effects of subsidies for large-scale fishing on sustainable fishing and management of marine resources.
