E-commerce policy remains in limbo as ministries differ, provisions carved out to other legislation
The policy is expected to significantly impact India’s e-commerce market, which is poised to rise to $111.4 billion by 2025. Currently, the sector is regulated piecemeal through a series of rules implemented by different ministries.
India becomes second-largest mobile phone maker globally: Government
Despite increased production, India continues to be a small player in the global mobile phone trade because it caters primarily to domestic demand.
India warns countries against joining 'illegal' China-Pakistan economic corridor
The corridor is a collection of infrastructure projects that have been under construction throughout Pakistan beginning 2013. Originally valued at $47 billion, the value of CPEC projects bumped up to $62 billion as of 2020. New Delhi has protested the project from its inception since it passes through large chunks of Pakistan-occupied Kashmir.
Conditional sales from SEZs to domestic market being expected in new Bill
The government hopes to revive struggling SEZs, exports from which fell to $102.3 billion in FY21 from $112.3 billion in FY20. Of the 370 notified SEZs, only 234 are operational, official data shows. Measures like lower taxes and partial denotification are also being considered
FPIs return to Indian equities; invest Rs 1,100 crore in July
The relentless selling by foreign investors appears to have taken a breather as they have turned net buyers so far this month with an investment of nearly Rs 1,100 crore in the Indian equity market.
India not facing any wheat crisis, assures agriculture minister
India had in May banned wheat exports to ensure domestic availability but has been allowing shipments to select countries.
India-UK trade talks on track, government looks at August 31 deadline
The India-United Kingdom FTA aims to significantly boost trade by reducing tariffs on up to 65 percent of traded goods and 40 percent of services.
Euro knocked by Italy crisis ahead of landmark ECB hike
Traders will have more than just the landmark rate move to juggle later, with the ECB also set to sketch out its "anti-fragmentation plan” – a bond market intervention scheme it hopes will prevent another euro zone debt crisis.
Study Abroad: Top 5 universities in the UK-- from Oxford to UCL
UK's dominance as a study abroad destination for Indians is largely driven by four factors – Britain’s influence on Indian education system, the quality of top universities there, English being the mode of education delivery, and the kind of diversity the country enjoys when it comes to both courses, and student and faculty cohorts.
Asia’s central banks forced to play catch-up in global rush to raise rates
While relatively subdued inflation allowed central banks in Asia to remain dovish in a bid to support the post-pandemic economic recovery, that led to weakening currencies and capital outflows
ADB downgrades Asia GDP forecast as China sticks to Covid Zero
The bank expects the region to grow 4.6 percent this year compared to an earlier forecast of 5.2 percent
Fed to stick to 75 bps hike in July; 40% chance of recession
Median predictions from the latest poll showed a 40 percent probability of a US recession over the coming year, with a 50 percent chance of one happening within two years
Higher import duties limiting export growth: Arvind Panagariya
The ex-NITI Aayog Vice Chairman said studies have shown that import duties have been raised on as many as 3000 tariff lines in recent years.
Seafood exporters see bright spots in Russia as rupee settlement is allowed
If Indian exporters gain access to Russia, it will help the seafood industry meet its export target of $8.6 billion. At present, 80 companies export to Russia. Now, about 40 more are seeking permission
GST Council recommendations pertaining to rules, rates binding on states: Junior Finance Minister
The Supreme Court earlier this year had said that the GST Council’s recommendations are not binding on states
RBI, government ready to take more steps to curb inflation, says Pankaj Chaudhary
The Centre was closely monitoring the global price movements and their impact on India’s economy, says minister of state for finance Pankaj Chaudhary
Here's what will become more expensive as the rupee hits 80 per dollar
According to the RBI, a 5 percent depreciation of the rupee from its baseline assumption could edge up inflation by around 20 bps.
EPFO’s investment committee recommends hike in equity exposure to 20%: Labour Ministry
The 20 percent equity exposure of EPFO will mean at least Rs 36,000 crore of PF money going to the equity market per annum, which will cheer the stock market.
Kerala opposes 5% GST on pre-packed, labelled food items: Minister tells Assembly
Kerala, in the GST Council meetings, has taken a consistent stand that the earlier higher tax on luxury items should be brought back and there should not be any taxes which affect the common man. However, no decision has been taken regarding that, he said.
Oil prices extend gains as weaker dollar, tight supplies support
Brent crude futures for September settlement rose 69 cents, or 0.7%, to $101.85 a barrel by 0421 GMT, after a 2.1% gain on Friday.
Close monitoring of trade deficit, portfolio outflows warranted: RBI article
The article, authored by a team led by Deputy Governor M D Patra, however, took comfort from the fact that recent moderation in commodity prices and easing of supply chain pressures would help the nation in escaping the global inflation trap.
MC Explains | What is Shrinkflation: Why there may be fewer chips in your Rs 10 packet now
Shrinkflation - whether you've heard about this or not, this is a phenomenon that's leaving you with fewer chips in your packet, lesser cola drinks in your bottle, and smaller chocolate bars. Some of you may be wondering how, surprisingly, despite rising costs (inflation) across the globe, the price of some daily consumables remains the same. What you may not have noticed is that while the price is the same, the size of several of these commodities has in fact declined. This means that you're paying the same, but you're getting a lesser quantity. This is shrinkflation, a method used mainly by FMCG companies to fight inflation - while ensuring that you, the consumer, continue to buy their product. To know all about shrinkflation and how to guard against it, take a look at this comprehensive video!
Rupee hits record low: No need to panic yet, say experts
The rupee hit a new record low of 79.90 against the US currency on July 14
Rupee at life-time low to hit imports, overseas education, travel
The primary and immediate impact of a depreciating rupee is on the importers who will have to shell out more for the same quantity and price. However, it is a boon for the exporters as they receive more rupees in exchange for dollars.
