ECONOMY
Coal crisis | Amit Shah holds hour-long meeting with power, coal ministers
The ministers have reviewed the availability of coal to power plants and the power demand in the coming weeks.
ECONOMY
S Jaishankar pushes for firmer ties with ASEAN to seize post-Covid prospects
The external affairs minister said the pandemic has given an impetus of the diversification of the global value chain, that was already in the process.
ECONOMY
India and US working to set up secure supply chains for critical items, says Wendy Sherman
US Deputy Secretary of State Wendy Sherman, while addressing the India Ideas Summit, has said both nations are working on securing the global supply chain in medicines, critical minerals, superconductors and other items.
ECONOMY
Cabinet approves seven mega textile parks under PM-MITRA scheme, allocates Rs 4,445 crore for next five years
The scheme aims to establish seven major 'holistic integrated textile processing regions' across the country, which would integrate the currently scattered value chain of textile products.
ECONOMY
Explained | What is the industrial park rating system and will it pull in FDI?
IPRS is the latest offering from the government in the continuous exercise of rating and classifying India's huge but underutilized industrial infrastructure. In providing information to investors, the government feels more is better.
ECONOMY
Agenda for 2+2 dialogue to be discussed during top US official’s visit on October 6
US deputy secretary of State Wendy Sherman will be in India for a two-day trip beginning October 6. Sources say Sherman will discuss growing defence relations and hint at Washington DC’s plans on trade with China.
BUSINESS
Services activity remains strong in September; PMI at 55.2
Continued growth ensured new jobs were created in the service sector after nine continuous months of job shedding.
ECONOMY
Cases pertaining to ‘Pandora Papers’ will be investigated: Finance Ministry
The government will also proactively engage with foreign jurisdictions for obtaining information in respect of relevant taxpayers. It will also monitor investigations on the Pandora Papers, that appear in the media.
ECONOMY
EXCLUSIVE | Global vaccine patent waiver not expected until WTO's ministerial in December: Sources
Multiple people in the know stress that talks have broken down due to opposition from wealthy nations like EU, Switzerland and UK, egged on by a non-committal US which has changed its position. The TRIPS vaccine waiver can now only happen in December when trade ministers of all WTO nations converge for the 12th ministerial conference.
TRADE-2
Want trade deal to be win-win for both nations, says Australian minister Dan Tehan
Tehan said that while being part of the Quad grouping has brought the two-nations closer, the latest discussions are being guided by bilateral ambitions and not relations with China.
ECONOMY
Australia recognises Covishield, but no clarity on when ban on international travelers to end
Serum Institute of India's Covishield, along with Coronavac, produced by Chinese company Sinovac, has become the latest entrants into Australia's official list of approved vaccines recognised for international arrivals.
ECONOMY
India's manufacturing PMI recovers slightly in September even as pace of growth remains muted
Manufacturing activity continued expanding at a slow pace in September at 53.7 after hitting a slowdown bump in August (52.3), but output remained much lower than the early months of 2021.
ECONOMY
Early harvest trade deal with Australia by Christmas, full FTA by 2022
First list of offers to be exchanged by October and continuous negotiations by dedicated teams to ensure Christmas deadline, Australian Trade Minister Dan Tehan said.
ECONOMY
India's FinTech adoption rate highest in the world at 87%, beats 64% global average: Piyush Goyal
With more than 2,100 players and worth $31 billion, India's FinTech market is one of the fastest growing in the world, the Commerce and Industry Minister said. This is expected to grow to $84 billion by 2025.
ECONOMY
Explained | Why has the government again extended its foreign trade policy ?
India has again postponed a new Foreign Trade Policy (FTP) announcement, choosing to extend the old one until March 31, 2022. The FTP, set to run from 2015 until 2020, targeted $900 billion of exports by 2020. The target had to be scaled down first because of a slowdown in global trade beginning at the end of 2018 and then the onset of the Covid-19 pandemic. Moneycontrol takes a deep dive into why India quickly needs a new FTP, why there has been a hold-up in announcing one, and what the implications are of persisting with a policy that was supposed to end in 2020.
BUSINESS
Cabinet allows capital infusion of Rs 4,400 crore to Export Credit Guarantee Corporation for greater export insurance cover
ECGC is now expected to be able to provide export insurance cover worth Rs, 88,000 crore, beginning the current financial year, Commerce and Industry Minister Piyush Goyal said.
TRADE-2
Rating agencies bet on 9% plus GDP growth in FY22 for India as economic activity set to rebound
S&P Global Ratings have kept their growth forecast for India unchanged at 9.5 percent while ICRA has updated its forecast from the earlier 8.5 percent to 9 percent.
ECONOMY
EXCLUSIVE | Trade deal with Australia may be the first to have separate focus on supply chains
A push by India and Australia to bring their supply chains closer, bypassing China, may formally become a part of the proposed fast-track trade deal being negotiated.
TRADE-2
Exclusive| Existing commitments may be addressed first once vaccine exports resume
As the government prepares to allow the shipment of Covid-19 vaccines overseas, intense negotiations are underway on which countries will get them first. India has already promised its partners in the Quadrilateral Security Dialogue, or QUAD, which also comprises the US, Australia and Japan, that it will export eight million doses by October-end. But the global COVAX initiative is yet to receive the vast majority of the 90 million vaccines it has ordered from Pune-based Serum Institute of India (SII).
ECONOMY
Newsmaker: Sneha Dubey | Meet the young Indian woman diplomat who took apart Pak PM Imran Khan's speech at UN
A junior diplomat at India's permanant mission to the United Nations, Dubey led India's latest retort against Pakistan, dishing out some memorable one-liners during her fiery oratory.
ECONOMY
QUAD leaders renew call for free and open Indo-Pacific, strengthen infra partnership
Repeating in clearer terms that it will not stand for the continued beligerence of China in the region, the QUAD nations have pulled closer. It has also announced new Biological-E plant in India will push out 1 billion vaccine doses by 2022 end.
TRADE-2
WTO coalition of developing nations plans campaign to push long due farm reforms
Developed nations in the World Trade Organization, including the United States, Canada, Australia, and members of the European Union, oppose public stockholding of food crops and want developing countries such as India to cap the minimum support price (MSP) paid to farmers, as well as limit input subsidies for fertiliser, seeds, pesticides and irrigation.
ECONOMY
DGTR recommends anti-dumping duty on Chinese Ceftriaxone Sodium Sterile, a key antibiotic
Ceftriaxone is used to treat critical medical conditions such as Meningitis, and was dumped at extremely low prices by Chinese producers in the Indian market.
ECONOMY
Exclusive | Consumer Affairs Ministry stands ground on draft ecommerce rules
Niti Aayog and the finance and corporate affairs ministries have opposed the draft ecommerce rules for being too harsh. The difference of opinion may linger, with the consumer affairs ministry sticking to its position for now.
