BUSINESS
India-UK trade deal offers British firms a major stake in Atmanirbhar Bharat
Once the FTA is operational, UK companies will be treated as a class 2 supplier if at least 20 percent of their product or service is from Britain – granting them the same status that only Indian firms currently enjoy
INDIA
India-UK FTA: Indian electronics, textiles, pharma, chemicals to get zero duty access
In labour-intensive sectors, tariffs on Indian exports to the UK have been slashed to nil from up to 20 percent on marine products, 12 percent on textiles and apparels, 8 percent on chemicals, and 10 percent on baseline metals, the Indian government said
BUSINESS
India-UK FTA: 75,000 Indian workers to gain from Britain’s insurance break
New Delhi has also secured a quota of 1,800 a year for qualified, professional Indian traditional chefs, yoga instructors and classical musicians entering as contractual service suppliers
BUSINESS
India-UK FTA: No tariff concessions for British EVs, hybrid cars priced below £40,000 on CIF basis
Britain has not offered any tariff concessions for Indian electric, hybrid and hydrogen cars with a CIF of above £80,000.
BUSINESS
India-UK FTA: Indian EVs get limited concession, engineering exports may double by 2030
Shipments of key engineering products like electric machinery, auto parts, industrial equipment, and construction machinery are projected to grow at 12–20 percent CAGR.
BUSINESS
FTA: India to lower average tariff on British goods to 3% from 15%
Prime Minister Narendra Modi, who is on a two-day visit to the UK, will meet his British counterpart Keir Starmer for the signing of the deal
BUSINESS
India-UK trade deal nears signing: Tariff breaks from gin to gems, social security win for New Delhi
Indian exports are set to benefit from duty elimination on about 99 percent of the tariff lines, covering almost 100 percent of the trade value, especially aiding labour-intensive shipments of textiles, marine products, leather, footwear, sports goods and toys, gems and jewellery.
BUSINESS
Foreign firms reluctant as EV policy runs into local sourcing, investment credit norm hurdles
The portal for the EV manufacturing scheme, which was launched on June 24, is yet to receive applications
BUSINESS
Wider stakeholder consultation underway before finalising rare earth magnet scheme
More consultations are warranted since the contours of the scheme won’t mirror any existing subsidy programmes such as the production-linked incentive plan
BUSINESS
Govt scouts new arenas for capex; bets on urban sanitation, shipping to fuel public investment in FY26
The Centre also aims to continue increasing the allocation for capex in the upcoming year given that private investment is yet to rebound significantly.
BUSINESS
Piyush Goyal urges India’s youth to actively contribute to building a Viksit Bharat by 2047
The finance ministry’s Economic Survey for 2024-25 has said that India needs to grow around 8 percent on an average for the next decade or two to achieve the goal of Viksit Bharat or developed India by 2047.
BUSINESS
Tax breaks may bring back urban consumption but not without better wages
Economists caution, that for a sustained recovery, structural constraints, related to low income and job creation, must be addressed.
BUSINESS
India, EU reached 'some kind of understanding' on certain divergent issues; next round of FTA talks in September
The tenth round of talks with ASEAN to review the existing pact is likely to be in August in New Delhi, with another expected in October in Malaysia, Agarwal added.
BUSINESS
Sourcing critical minerals part of FTA talks with Peru, Chile: Official
The official added that India is also looking at those countries that do not manufacture but have processing technologies for critical minerals like Japan and South Korea.
BUSINESS
Goods trade deficit narrows to a four-month low of $18.78 billion in June
Merchandise exports fell marginally on-year to $35.14 billion in June, while imports dropped to $53.92 billion
BUSINESS
India should pursue services-oriented trade deal with US, says NITI report
The report by NITI Aayog also recommended fast-tracking talks for free trade agreements, particularly with the European Union, with a clear, time-bound negotiation roadmap.
BUSINESS
NITI report recommends expanding PLI scheme to leather, footwear, furniture
NITI Aayog has batted for establishing a Quality Upgradation Fund to incentivise MSMEs in meeting international quality benchmarks, certifications, and sustainability requirements.
BUSINESS
Indian delegation in US for another round of trade talks
The talks come amid India’s broader push to expand its network of free trade agreements (FTAs) with several countries.
BUSINESS
India mulls lifting flour ban before removing restrictions on wheat exports
Despite surplus stock, India may not lift the export ban on wheat itself anytime soon
BUSINESS
Govt panel finalises revamped eKYC norms; regulators to roll out risk-based framework soon
The committee's recommendations include a common KYC form, risk-based graded eKYC norms, and KYC portability, meaning customers will no longer need to undergo the same process multiple times across different financial institutions.
BUSINESS
US trade deficit actually shrank with 8 of 21 tariff-hit nations
The US’ goods trade deficit with these countries had already started narrowing in 2024 over the year prior. Showing Trump’s tariffs are not all about deficits.
BUSINESS
India eyes quick interim deal with European Union
India wants a three-year break from EU’s carbon levy for small businesses, while the European bloc is demanding a better offer for its wine, whisky and cars compared to the one extended to the UK
BUSINESS
India-US mini deal may not have a breach clause, raising concerns about sanctity of agreement
Trump's repeated warnings on raising tariffs has the Indian side worried. India wants riders in the agreement to avoid deviations on tariffs but such a clause seems unlikely, at least in the mini deal.
BUSINESS
Trump’s shift to tariff letters from trade deals may offer more time for India agreement
Trump’s reciprocal tariffs will now be re-imposed from August 1 as he opts for tariff letters to arm twist nations into agreements
