ECONOMY
Exclusive | Facing order cancellations, exporters seek to be spared from refunding export benefits
Many global buyers have filed for bankruptcy, leading to order cancellations that have shaken exporters. The rules say that if a buyer does not pay for shipped goods, exporters would have to return with interest the government benefits they availed of.
ECONOMY
India misses Christmas deadline for 'early harvest' trade deal with Australia
Back in August, the government had announced that by December 2021, India and Australia would ready the details for an early harvest trade deal
WORLD
PM Narendra Modi may inaugurate free trade pact with UAE during upcoming trip
The Prime Minister's Office wants preliminary negotiations on a proposed Comprehensive Economic Partnership Agreement (CEPA) to be completed before the PM's first bilateral visit of 2022. The commerce department says work is still underway to identify trade opportunities with the UAE, India's third largest trading partner.
ECONOMY
Piyush Goyal calls for single ID for individuals and businesses combining Aadhaar, PAN
The Commerce and Industry Minister said more than 25,000 compliances have been reduced by centre so far. But now, the time has arisen to 'think big' and make major reforms to reduce compliance further, he added.
ECONOMY
Budget 2022: SEZs may be allowed to sell goods in domestic market with no extra customs duty
The commerce department has again pushed for a relaxation in the rules for beleaguered special economic zones to maximise productivity. Long-term detractors of the proposal are said to be on board this time.
ECONOMY
PM Gati Shakti: Economic ministries to submit list of infra gaps in a month
The ministries’ recommendations, to be sent a few days ahead of the budget, are set to impact which infrastructure projects get the most push from the government and dictate the amount of funds each receives.
ECONOMY
Explained | What is the upcoming WTO summit and why it is crucial for India
The biennial Ministerial Conference of the WTO will be held later this month. The meet will see the trade ministers of all member-nations converging to hash out the nuts and bolts of the global trade ecosystem.
ECONOMY
Government to meet on Cop26 results today
Following an inter-ministerial meeting, the environment ministry will submit a dossier detailing the timeline for the next five years over which India is set to achieve the bulk of its targets towards achieving net zero emissions.
ECONOMY
'Net Zero will be net positive for India,' Jayant Sinha tells CII summit
Sinha said the new wave of technologies will have massive impact on India's economy and job market, and should be taken into account by policymakers.
ECONOMY
Cabinet decisions: Govt allocates Rs 33,822 crore for building roads, mobile towers across 44 aspirational tribal districts
The government has targeted building 1.4 lakh km of roads in tribal districts and areas affected by left-wing extremism. Also, 4G-enabled mobile phone towers will be set up across 44 districts in 5 states.
ECONOMY
CII Summit | Bringing people who lost jobs back into formal sector remains big challenge: India Inc
As demand regenerates after the pandemic, proper mapping of jobs, higher female labour force participation and a manufacturing push, would be crucial, industry leaders said at the CII Global Economic Policy Summit 2021. Without this, those who have been forced out of the formal sector due to Covid, would remain there.
ECONOMY
COP26 | Promised climate finance did not materialise: Sources
Officials say there was no option available to maintain India’s strategic and economic interests.
ECONOMY
October exports rise 43% Y-o-Y led by strong global orders
Official statistics show exports of all major revenue earners such as engineering goods, petroleum, gems and jewellery, continued rising in October. Overall exports had risen by 22.6 percent in the previous month of October.
TRENDS
COP26 ends: Key takeaways from the biggest global climate summit so far
Despite taking several multilateral steps to battle climate change, major world powers could not agree on a stricter agreement on limiting carbon emissions at Glasgow.
ECONOMY
October wholesale price inflation rises to 5-month high of 12.5%
The rise in WPI was due to a rise in fuel inflation, which rose to 37.2 percent, up from 24.8 percent in September.
ECONOMY
COP26: As Glasgow Summit reaches finale, both challenges and opportunities intensify
With the measures needed to combat climate change having grown exponentially, nations have been locked in negotiations for the past few days, fighting over key commitments.
ECONOMY
September IIP rises 3% as low base effect wears off
Measured by the Index of Industrial Production (IIP) data, which was released by the Centre on November 12, industrial output maintained growth in the latest month even though the headline figures fell.
ECONOMY
Draft COP26 deal sees no final amount or deadline for beginning climate finance yet
Sources say that it will also not begin the mechanism to push out cash until at least end 2022, under optimal conditions.
BUSINESS
Services exports: New scheme in the works to replace now suspended SEIS
Move could benefit exporters upset with the government cutting significant refunds under the Services Exports from India Scheme (SEIS), which can be claimed only till the 2019-20.
ECONOMY
EXCLUSIVE | COP26: Sustainable farming pact ’unsustainable’ without climate finance, say officials
After initial reports suggested India had signed a key multilateral pact on sustainable farming, officials have clarified that India is not part of the deal. Calling the premise of the deal unambitious, they say it shifts focus from the main issue of climate finance.
ECONOMY
National logistics index 2021: Gujarat, Haryana and Punjab best performing states
Assam has fallen to the 21st and last position among major states, from the 15th position it held in the previous ranking. Meanwhile, Jammu and Kashmir has bagged the top rank among North Eastern States and the Himalayan Region.
ECONOMY
Explained | How is the International Green Grids initiative planning to distribute solar energy across continents?
Led by India, the major worldwide collaborative initiative plans to harness solar energy wherever the sun is shining, ensuring that electricity generated flows to areas that need it most.
ECONOMY
India's push for food security at G20 may bear fruit at WTO summit
A key issue of contention, New Delhi has pushed for policies protecting interests of small and marginal farmers. Officials say this proposal is gaining traction before the once-in-two-years Ministerial Conference of the World Trade Organization later this month.
ECONOMY
India staying out of major climate pledges at COP26: Officials argue varied reasons
While India has been one of the earliest and key signatories of multiple global environmental agreements, it has given a wide berth to three major initiatives. Officials tell Moneycontrol why that's been the case.
