BUSINESS
Ensure laptop import policies do not restrict trade: US tells India
US Trade Representative Ambassador Tai raised the issue of India’s new import requirements for computers, tablets and servers. In response, Commerce Minister Goyal described the objectives behind implementing these policies, including national security concerns
BUSINESS
Exclusive: Red Sea attacks compel at least 65% of Indian exports shipments to Europe to take longer routes, sources say
The Indian government has asked exporters to focus on markets in the east such as Australia in a bid to avoid higher costs as well as security issues associated with sending their outbound shipments to Europe following the spate of attacks on vessels taking the Red Sea route.
BUSINESS
India won't resume FTA talks with Canada anytime soon as solution eludes Khalistan issue: Source
India may consider restarting talks on a free trade deal if there is a change of guard after the federal elections in Canada in October 2025. New Delhi has asserted that Canadian Prime Minister Trudeau’s government has been lenient towards pro-Khalistan violence, an issue that the former has raised consistently over the past few years.
BUSINESS
Rolls-Royce, IPR, to Khalistani extremism in focus as Defence Minister Rajanth Singh visits UK
Singh’s visit to the UK, a first for an Indian defence minister since 2002, is expected to include discussions on a wide range of issues, including security and industrial cooperation. New Delhi’s relations with London are guided by the India-UK Strategic Partnership, part of an agreed-upon 2030 roadmap between the two nations.
INDIA
Exclusive: Suez Crisis: India mulls subsidies for exporters facing higher shipping costs, says source
India is worried that the attacks on cargo ships passing through the Red Sea route could particularly impact its agricultural exports to Europe.
BUSINESS
Budget 2024: GDP growth-tax collections relationship is now complicated
The finance ministry makes its projections for next year's tax collections based on how fast it thinks the Indian economy will grow in nominal terms. But if the experience of 2023-24 is anything to go by, the relationship that existed between the two seems to have become more complicated and could present a challenge in crunching the numbers for the 2024-25 interim Budget
BUSINESS
India to become $4 trn economy before 2024 elections: Piyush Goyal
Goyal said that in 2-2.5 years, India will become a $5 trillion economy. This figure is crucial since PM Narendra Modi in 2019 gave a clarion call for the country to achieve this target by 2024.
BUSINESS
India mulls import duty concessions on some petroleum, plastic items in FTA with Oman: Source
In 2022-23, India's merchandise exports to Oman were valued at $4.5 billion, with New Delhi supplying 6.6 percent of the West Asian nation’s imports
BUSINESS
Former NITI VC Arvind Panagariya is chairman of 16th Finance Commission
The order notified the formation of the 16th Finance Commission and listed Panagariya as its chief, but a notification for the appointment of other panel members would be issued separately.
BUSINESS
India's pharma, electronics sectors emerge key beneficiaries of Australia trade pact
India-Australia FTA: The India, Australia Economic Co-operation and Trade Agreement (ECTA), which came into force on December 29, 2022, has completed a year. The two nations are currently looking to expand the existing pact to an ambitious Comprehensive Economic Co-operation Agreement (CECA).
BUSINESS
India hopes to close talks for 3 trade deals, including UK before general elections: Source
With talks for the India-Oman Comprehensive Economic Partnership Agreement largely concluded, authorities expect talks for the deal to close in January 2024. As for the UK-India FTA, the 14th round of talks is scheduled for next month
BUSINESS
No fresh trade pacts in 2023, but India could clinch Oman, UK FTAs in early 2024
According to GTRI’s Srivastava, India’s “Look West” policy will dominate its export strategy in 2024. Apart from that, new and emerging matters such as digital trade and sustainability will also be a key aspect of FTA talks going ahead
BUSINESS
Modi budget at 10: Did the Make-in-India Gir Lion roar?
While the Production-Linked Incentive scheme has done wonders for a handful of sectors, including electronics manufacturing, in many others, investments have been sluggish. In fact, the commerce ministry is working on reviewing the scheme to ensure better utilisation across sectors.
BUSINESS
Freebie culture: Political parties may not believe in fiscal discipline, but governments do: Montek Singh Ahluwalia
The veteran economist said that history shows that while political parties may make fiscally risky promises to win elections, they become more disciplined in government.
BUSINESS
Bilateral FTAs no solution, India needs to ink trade pacts with multi-nation blocs: Montek Singh Ahluwalia
In an interview to Moneycontrol, the former Deputy Chairman of the erstwhile Planning Commission said that he sees merit in India joining RCEP despite China’s presence in the mega trade pact.
BUSINESS
India needs to lower import duties to gain from global supply chain shift, says Montek Singh Ahluwalia
According to Ahluwalia, India cannot latch on to global supply chains if the country insist on maintaining higher import duties compared to other East Asian countries.
BUSINESS
India prefers duty cuts on EVs via FTA route with specific nations, says source
According to a statement by the finance ministry in the Parliament, currently there is no plan to exempt local value addition cost or to provide subsidy on EV imports.
BUSINESS
UK flags migration concerns as Delhi seeks easier visa norms in FTA, says source
India and UK are looking to balance migration and mobility concerns as both nations look to conclude talks for the Free Trade Deal sooner than later
BUSINESS
India's November goods trade gap narrows to $20.58 billion as gold imports more than halves
While goods exports fell 2.84 percent in November on year, imports fell by 4.35 percent during the same period on year.
BUSINESS
Food inflation may remain sticky at 7-9% on higher MSP, poll promise rollouts, says economist Ashok Gulati
Gulati termed measures such as placing export bans on key staples to keep a lid on prices outdated and flagged the need to deploy a new mix of policy steps to tame food inflation.
BUSINESS
Rajasthan’s CM designate Bhajanlal Sharma’s number one problem is inflation
In sharp contrast, Chhattisgarh’s incoming CM, BJP’s Vishnu Deo Sai, will be inheriting the governance of a state that has managed inflation better than almost all its peers with an average rate of just 2.76% so far in the current fiscal.
BUSINESS
MC Interview | Carbon pricing a double-edged sword, needs to be tackled at global level: World Bank economist Damania
Damania believes that India’s economy will continue to grow well over the historic rate of growth on account of its digital push.
BUSINESS
India has kept fiscal prudence as its top priority, says Nirmala Sitharaman
Citing the current government's focus on fiscal discipline, Sitharaman said that India is being noticed for its efforts to reduce public debt
BUSINESS
Debate over bank privatisation rages on, but experts say it is inevitable
The chief concern is that the government’s social schemes will be hit big time if PSBs turn private. On the other hand, there is a view that private banks today also contribute to social causes and support social schemes.
