May GST mopup up by 16.4%; shows FY26 off to a flying start
Goods and services tax collections surged 16.4% in May to ₹2.01 lakh crore from a year earlier, signaling robust demand at the start of the fiscal year after a strong close to FY25, data released on Sunday showed. Separately, high-frequency…
Government has fast-tracked FDI approvals from neighbouring countries, cut approval time: Official
The government has significantly streamlined procedures for clearing FDI applications of neighbouring countries including China, with quicker decisions, and regular inter-ministerial committee meetings to ensure approvals are processed within the set timelines, an official said. The number of pending foreign…
Govt favours wealth creation; profit not a bad word, says FM Nirmala Sitharaman
NEW DELHI: Finance minister Nirmala Sitharaman Saturday said the Modi government promotes wealth creation and encou-rages entrepreneurs to earn profits through ethical practices without inhibitions. This is in stark contrast to the stance adopted by the votaries of socialism or…
Donald Trump says India-US trade deal close, warns Pakistan tension
US President Donald Trump on Friday said the United States is “very close to making a deal with India,” while also confirming that a representative from Pakistan is expected to visit Washington for talks next week. Speaking to reporters at…
At 7.4%, India’s growth steps on race pedal in Q4
India’s economy expanded faster than expected at a four-quarter high of 7.4% in the March quarter from a year earlier, lifting overall growth in FY25 to 6.5%, data released on Friday showed. The high growth belied concerns about a softer…
India sustains growth momentum as fastest growing economy again: Finance Minister Sitharaman on Q4 GDP
Finance Minister Nirmala Sitharaman on Friday while commenting on Q4 GDP growth said that India has sustained its growth momentum as fastest growing economy for fourth year in a row. India’s economic growth in Q4 beat estimates after accelerating to…
India GDP growth likely accelerated in March quarter on rural demand, state spending
India’s economic growth likely picked up pace in the January-March quarter, buoyed by stronger rural demand and higher government spending, even as private firms delayed investments amid global uncertainties. Gross domestic product (GDP) is expected to have grown 6.7% year-on-year…
FM Nirmala Sitharaman meets ADB President; seeks deeper support for integrated rural prosperity
Finance Minister Nirmala Sitharaman on Thursday met Asian Development Bank (ADB) President Masato Kanda and sought enhanced support for integrated rural prosperity initiatives, including job creation. The discussions focused on shaping the partnership in line with Prime Minister Narendra Modi’s…
Insolvency framework amended to simplify compliance
NEW DELHI: The bankruptcy regulator has amended the framework for reporting the corporate insolvency resolution process (CIRP) to ease compliance burden without undermining effective oversight, according to a circular. Under the revised reporting framework, the existing nine forms will be…
India to remain among fastest-growing major economies even as growth may moderate in FY26: EY
India’s economic growth is expected to moderate in the current fiscal influenced by global and domestic developments and the country may need to rely on a balanced mix of monetary and fiscal policies for sustaining the growth momentum in the…
Tariffs, tailwinds & trade talk: India bets on a US deal to turbocharge exports
The finance ministry said a successful India-US trade deal could “flip current headwinds into tailwinds,” opening up access to new markets and bolstering exports. The ministry flagged potential trade barriers in the wake of the additional 26% tariffs proposed by…
India Records $81.04 bn FDI Inflow in FY25
Foreign Direct Investment inflows have seen a steady rise, from $36.05 billion in FY 2013-14 to$81.04 billion (provisional) in FY 2024-25, the Ministry of Commerce and Industry said on Tuesday. The has been a 14 per cent increase in FY…
Monsoon rains drown crops, raise vegetable prices
Pune: The incessant early monsoon rainfall in most southern states has damaged vegetable crops, jacking up the prices of tomatoes 30-40% in the wholesale markets in the last fortnight and they are likely to increase further after 2-3 weeks, said…
US officials likely to visit India for next round of talks on interim trade pact: Sources
A team of US officials is expected to visit India in the coming weeks for the next round of discussions on the proposed interim trade agreement between the two countries, sources said. The visit gains importance as India and the…
RBI may extend lending to NBFCs, MFs during crises
The Reserve Bank of India (RBI) is preparing for the possibility of directly lending to non-banking financial companies and mutual funds during periods of extreme liquidity constraints, ensuring survival for those that get shut out of the lending markets during…
India has become 4th largest economy, ahead of Japan: NITI CEO
India has become the fourth largest economy in the world, overtaking Japan, NITI Aayog CEO BVR Subrahmanyam has said. Subrahmanyam said the overall geopolitical and economic environment is favourable to India. “We are the fourth largest economy as I speak….
Finance Ministry OKs 8.25% EPF interest rate
The government has ratified an interest rate of 8.25% on Employees’ Provident Fund (EPF) deposits for the financial year 2024-25, benefitting over 70 million subscribers. The labour ministry has directed the Employees’ Provident Fund Organisation (EPFO) to begin crediting the…
GST council to meet soon to discuss rate rationalisation, compensation cess future
New Delhi: The GST Council is likely to meet soon to discuss rate simplification and rationalisation and the future of compensation cess, according to a source. “There are three or four different aspects relating to making GST simpler. We will…
Low use of Asean FTA under review; aim is to eliminate barriers
NEW DELHI: The government is examining the causes for the low utilisation of India’s free trade agreement (FTA) with the Association of Southeast Asian Nations (Asean) bloc, particularly Thailand. The commerce and industry ministry has assessed that the utilisation of…
Six-member board to regulate payment systems: RBI notification
RBI governor headed a six-member Payments Regulatory Board, including three central government nominees, will regulate and supervise payment systems in the country, according to a central bank notification. The Payments Regulatory Board (PRB) will replace the Board for Regulation and…
Net FDI inflows sink 96% to record low
Net foreign direct investments (FDI) into India dropped 96.5% in FY25, as a red-hot IPO market provided multi-bagger exits to long-term investors in companies such as Hyundai Motor and Swiggy, while several local firms invested heavily overseas to benefit from…
‘Omanisation’ last key issue in conclusion of India-Oman FTA talks: Official
The negotiations for the proposed India-Oman free trade agreement are nearing conclusion with both sides discussing the last issue of the Gulf country’s labour-related ‘Omanisation’ policy, as New Delhi wants the current regime to remain unchanged for its workers, an…
India better placed to face US tariffs: Moody’s
India is better positioned than many other emerging markets to withstand the impact of US tariffs and global trade disruptions on the back of its large domestic economy and low dependence on exports, Moody’s Ratings said on Wednesday. Government initiatives…
Net formal jobs under EPFO up 1.1% at 1.45 million in March: Payroll data
The net formal jobs created under the Employees’ Provident Fund Organisations in March grew by 1.15% to 1.45 million compared to 1.44 million added in March 2024, shows the provisional payroll data released by the ministry of labour and employment…
Mango Row: Maharashtra govt agency alleges US inspectors skipped standard procedures
Pune | New Delhi: Following rejection of 15 consignments of Indian mangoes by the US due to procedural lapses, the Indian authorities have claimed that the American inspectors did not follow the protocol. “Instead of discussing the matter with relevant…
Govt procures over 290 lakh tons of wheat so far, may hit 320-325 lakh tons: Pralhad Joshi
Union Food and Consumer Affairs Minister Pralhad Joshi on Tuesday said the government has procured more than 290 lakh tonnes of wheat so far this year and the figure may reach 320-325 lakh tonnes on record production. Total wheat purchase…
India-UK FTA: Government plans GeM push for global tenders
India’s government e-marketplace, or GeM, plans to introduce global tendering functionalities for the public procurement portal this year, following a free trade agreement (FTA) with the UK that opens government procurement on both sides to entities based in the two…
India plans stricter rules for companies with foreign ownership, sources say
India is planning to tighten foreign ownership rules, two sources said, in a move that may have significant implications for businesses ranging from e-commerce to pharmaceuticals. The changes would redefine how India views foreign-owned companies, whether directly or indirectly, making…
India limits 42% of imports from Bangladesh, targeting $770 million in goods: GTRI
India has imposed new restrictions on imports from Bangladesh through land ports, affecting goods worth around USD 770 million. This amounts to nearly 42 per cent of total bilateral imports, according to the Global Trade Research Initiative (GTRI), a trade…
RBI to issue Rs 20 notes with new Governor Sanjay Malhotra’s signature
The Reserve Bank of India announced that it will soon issue Rs 20 denomination banknotes in the Mahatma Gandhi (New) Series bearing the signature of the new RBI Governor Sanjay Malhotra, according to an official statement. The new notes will…
RBI FY25 Payout to govt may jump 50 per cent
Mumbai: The Reserve Bank of India’s (RBI) central board of directors is likely to meet on May 23 for an annual review of the central bank’s balance sheet and transfer of FY25 surplus funds to the government. The payout could…
BTA talks: India, US trade ministers to assess progress from May 17; to give political guidance
India and the US will commence ministerial-level meetings in Washington from May 17 to assess the progress of negotiations for the proposed bilateral trade agreement, provide political guidance to chief negotiators and push forward efforts to deepen economic ties, an…
India’s GDP growth revised downward to 6.3% for 2025, country remains one of fastest-growing large economies: UN
India’s economic growth forecast for 2025 has been revised downward to 6.3 per cent, and despite a projected moderation, the country remains one of the fastest-growing large economies, supported by resilient consumption and government spending, the United Nations has said….
Centre approved national highway projects worth Rs 13,000 cr in Odisha in FY’26: Minister
The Centre has approved national highway projects worth Rs 13,000 crore in Odisha during the ongoing 2025-26 fiscal, a state minister said on Thursday. Out of those projects, the Odisha government has set a target to complete road construction work…
Metal prices likely to keep upward pressure on WPI in coming months: Union Bank of India
Metal prices are likely to keep pushing up the Wholesale Price Index (WPI) in the coming months, according to a report by Union Bank of India. Despite a drop in WPI in April 2025, metals have shown a sequential pickup,…
Indian cos commit $6.8 bn overseas FDI in Apr; nearly USD 6 mn in Azerbaijan, Turkiye
Four Indian entities committed foreign direct investments worth nearly USD 6 million in Azerbaijan and Turkiye, accounting for a small part of the total USD 6.8 billion overseas investments proposed by Indian companies in April, according to the latest Reserve…
RBI reviews e-wallets of EV players after BluSmart goes bust
The Reserve Bank of India is scrutinizing some digital wallets associated with electric-vehicle players after the sudden collapse of the country’s largest all-EV taxi service left users unable to access money tied to their accounts, people familiar with the matter…
Currency in circulation grows 2.4% year to date up to May 2, shows RBI data
Currency notes aren’t museum pieces – at least, not yet – in the digital era. Growth in currency in circulation is higher at 2.4% year to date up to May 2, compared with 1.7 percent in the same period a…
After India UK FTA, focus must be on local content to prevent entry of Chinese goods: Report
As India and the United Kingdom successfully conclude their Free Trade Agreement (FTA), it has to be ensured that goods traded between the two nations have sufficient local content to prevent Chinese goods from entering markets through the backdoor, according…
Trade is a big reason they stopped fighting, claims Donald Trump on India-Pakistan tensions
United States’ President Donald Trump has claimed that the reason behind the ceasefire agreement between India and Pakistan was due to trade. President Donald Trump said on Monday the United States is ready to help India and Pakistan in the…
India’s manufacturing and services PMI is highest among developed and emerging markets: J P Morgan
India has topped the global charts in both manufacturing and services activity, according to the Purchasing Managers’ Index (PMI) data in report released by J.P. Morgan.The report data highlighted that for April 2025, India’s manufacturing PMI stood at 58.2, while…
No duty cuts by India on UK wines under FTA; limited concession on British beer
India is not giving any duty concessions on British wines and is providing only limited import duty benefits on UK beer under the free trade agreement (FTA) between the two countries, announced on May 6, an official said. The other…
Forecast with a model error of 4 days: Monsoon likely to arrive in Kerala early this year
Pune: The southwest monsoon is likely to set over Kerala on May 27, five days earlier than normal, the India Meteorological Department (IMD) said on Saturday.The southwest monsoon, which brings 70% of India’s annual rainfall, is crucial for the agriculture…
Explainer: India-UK free trade agreement — all you need to know
India and the UK earlier this week announced that they have concluded the negotiations for a free trade agreement to boost economic ties between the two countries. The talks commenced in January 2022. It is aimed at doubling the bilateral…
Conveyor lines in border states slow down for security amid India-Pakistan escalation
Kolkata|New Delhi: Several Indian manufacturers are effecting operational changes, including work timings, at their factories in the border states of Gujarat, Punjab, Jammu and Kashmir and Rajasthan. Through these measures, companies are looking to safeguard workforce while ensuring minimum disruption…
India’s forex reserves fall to $686 billion, down $2 billion as of May 2
India’s forex reserves dropped $2.06 billion to $686.06 billion for the week ending May 2, snapping an eight-week gaining streak that had lifted reserves to a near six-month high, according to data by the Reserve Bank of India on Friday….
India UK FTA paves way for similar agreements with countries like USA, EU: Bank of Baroda
The recently concluded Free Trade Agreement (FTA) between India and the United Kingdom is expected to benefit both nations economically and could also pave the way for similar agreements with other countries such as the United States and the European…
Govt to launch pan-India farmers awareness campaign from May 29 to boost Kharif output
New Delhi: With ensuing kharif sowing season, Union Agriculture Minister Shivraj Singh Chouhan on Thursday announced a pan-India 15-day campaign starting May 29 to educate and create awareness among 1-1.5 crore farmers about modern technology and new seed varieties. The…
ET Graphic: How the India-UK FTA turned the tariff tide
India’s trade deal with the UK has significantly slashed duties on various products. 64% of tariff lines will be eligible for duty-free imports into India immediately after the pact is in force. This will include UK exports of… India’s Gains…
Piyush Goyal to meet exporters on May 8 on India-UK trade pact
Commerce and Industry Minister Piyush Goyal will meet representatives of export promotion councils (EPCs) here on May 8 to discuss matters related to the free trade agreement with the UK, an industry official said on Wednesday. India and the UK…
Milestone for India, UK: Indian labour-intensive exports poised to gain; UK terms it the biggest deal since Brexit
India and the UK reached a free trade agreement (FTA) that aims to boost economic ties between the world’s fifth- and sixth-largest economies, among the first such global accords in the Trump tariff era. The deal will make British Scotch…
India-UK FTA to benefit exporters, steer bilateral trade towards $100 bn by 2030: Industry
Industry bodies on Tuesday said the India-UK FTA amid the current uncertain global environment will immensely benefit Indian exporters looking to enhance their presence in the UK market, steering bilateral trade towards the ambitious target of USD 100 billion by…
Share of gold in India’s forex reserves doubles in four years, central bank report shows
The share of gold held by India’s central bank in its foreign exchange reserves has doubled in the last four years as on March-end, a report by the Reserve Bank of India showed on Monday. In dollar value terms, the…
Cash still matters in the digital world: Report
Even as digital payments penetration gets deeper cash usage through ATM withdrawals continues to rise with some states seeing as much as 8 percent growth in ATM usage according to a report by Cash management and logistics firm CMS Info…
Process review likely for firms surrendering EPFO exemption
The Ministry of Labour and Employment plans to review the process for the surrender or cancellation of the exempted status given to employers under the Employees’ Provident Fund Organisation (EPFO) to protect workers’ interests.Organisations employing workers above a certain threshold…
Gujarat records 13 percent jump in GST collection in April 2025
Gujarat registered a 13 percent jump in GST collection in April 2025 as compared to that of April 2024.In April 2025, Gujarat recorded a Goods and Services Tax (GST) collection of ₹14,970 crore. Gujarat’s total GST revenue for the financial…
Pakistan shuts ports for Indian ships after New Delhi bans imports from Islamabad
Pakistan has barred Indian-flagged vessels from accessing its ports, just hours after India announced a series of punitive measures against Islamabad, including a ban on the import of goods from Pakistan and the entry of Pakistani ships into Indian ports.On…
Commerce Ministry warns industry against transhipment to US; assures clarity on value addition norms
The Commerce Ministry has cautioned the domestic industry to strictly follow the US ‘rules of origin’ norms while exporting goods to America, as re-routing products from high-tariff countries without substantial value addition could be classified as transhipment and attract higher…
Arvind Panagariya: US deal will be a big positive for India
India will come out stronger, and not weaker, from the current global uncertainties around tariffs, and a trade deal with the US will be “incredibly favourable” for the country vis-a-vis some of its competitors, noted economist and 16th Finance Commission…
UK-India investment treaty lets companies sue government, sources say
An investment treaty between Britain and India will contain a provision that allows companies to sue either government if they believe policy changes unfairly harm their investment or profits, two sources familiar with discussions told Reuters. The Investor-State Dispute Settlement…
Piyush Goyal holds trade talks with EU Commissioner, India-EU reaffirm to conclude FTA by end of 2025
Union Minister of Commerce and Industry, Piyush Goyal, held a key meeting with European Union Commissioner for Trade and Economic Security, Maros Sefcovic, in Brussels to discuss the progress of the India-EU Free Trade Agreement (FTA).Both sides reaffirmed their commitment…
Domestic efficiencies, competitiveness must for economic resilience: FM Sitharaman
Kolkata, Finance and Corporate Affairs Minister Nirmala Sitharaman on Thursday said the most effective path for building economic resilience is to build domestic efficiencies and competitiveness. The government sees the private sector as a trusted co-partner in development, she said…
Sugarcane fair price hiked to Rs 355 a quintal
The cabinet approved a 4.41% increase in the price at which sugar mills will have to buy sugarcane from farmers for the season starting in October, raising it to ₹355 per quintal from ₹340 earlier. The hike in the fair…
Services sector enterprises with less than Rs 500 crore output account for 63% employment: Survey
Services sector enterprises with less than Rs 500 crore output accounted for 63.03 per cent of the total employment in the segment, according to a government survey released on Wednesday. The first pilot study on the Annual Survey of Services…
MoF flags global uncertainty as risk to India’s FY26 growth
The finance ministry on Tuesday said global uncertainties pose a key risk to the country’s FY26 growth outlook.More than trade, the “perception of prolonged uncertainty may cause the private sector to put its capital formation plans on hold”, the ministry…
RBI launches 3 key surveys for monetary policy input
The Reserve Bank on Tuesday launched three key surveys, including inflation expectations, to gather useful inputs for monetary policy decisions. The RBI normally holds six bi-monthly monetary policy reviews in a financial year. The last meeting was held earlier this…
Piyush Goyal meets business leaders in London to boost India-UK investment and trade ties
Union Minister of Commerce and Industry Piyush Goyal’s meetings in London, focused on boosting investment ties and strengthening bilateral trade between India and the United Kingdom.Goyal is on a two-day visit to London for a series of discussions aimed at…
High US tariffs pushing Chinese exporters to tap Indian firms for shipments to America: FIEO
American sourcing firms and exporters in China are approaching Indian companies to supply goods to the US as high tariffs imposed by Washington are making it difficult for them to ship directly to America, apex exporters’ body FIEO said on…
Chinese firms turn to Indian exporters to help fill US orders
Some China-based firms hit hard by US tariffs are reaching out to Indian exporters to fill orders on their behalf and help them retain their American customers as they navigate a trade war causing seismic shocks in global commerce.At the…
Engineering goods exports from India reach record high in 2024-25, hit $116.7 billion
Registering a year-on-year growth of 6.74 per cent, engineering goods exports from India reached its all-time high of USD 116.67 billion in fiscal 2024-25, surpassing the previous high of USD 112.10 billion achieved in fiscal 2021-22.The value of total engineering…
Indian Cybercrime Coordination Centre empowered under PMLA
New Delhi: The Centre on Saturday empowered the Indian Cybercrime Coordination Centre (14C), allowing it to receive and share information with other agencies to tackle money laundering linked to cybercrime.In a gazette notification, updated late evening, the Centre added it…
Centre to unveil Rs 255 crore worth of fisheries projects at coastal states meet on April 28
Union Minister Rajiv Ranjan Singh will on Monday inaugurate and lay the foundation for key projects for seven coastal states and union territories with a total outlay of Rs 255.30 crore under Pradhan Mantri Matsya Sampada Yojana (PMMSY). The minister,…
CBIC notifies rules for GST tribunal
New Delhi: The Central Board of Indirect Taxes & Customs (CBIC) has notified comprehensive rules for the Goods and Services Tax (GST) Appellate Tribunal, with effect from April 24, outlining the procedures for filing, management and adjudication of appeals, and…
Delhi government plans to hand over Mandi Road to NHAI for widening project
The Delhi government is set to revive its more than a decade-old Mandi Road widening and upgradation project, which is crucial for smoothening traffic flow on Mehrauli-Gurugram road in South Delhi. According to Public Works Department (PWD) minister Parvesh Verma,…
ET Graphics: Indo-Pak trade – The Economic Times
Pakistan has suspended all trade ties with India including through third countries, completely halting the two-way commerce which slowed since 2019 after the Pulwama attack. Kirtika Suneja takes a look at the trade between the two countries. (You can now…
RBI caps FEMA violation penalty at ₹2 lakh to ease compliance burden
RBI has capped the penalty amount for FEMA violations to Rs 2 lakh, down from a percentage of the amount of violations earlier in an easing of regulations. Violations including use of liberalised remittance scheme (LRS) proceeds not reinvested within…
US tariffs could shave up to half a percentage point off India GDP, says finance secretary
WASHINGTON -The direct hit from tariffs introduced by Donald Trump’s administration on India could shave off between 0.2-0.5 percentage points from GDP growth, the country’s Finance Secretary Ajay Seth said on Wednesday. “Now there is a sign of that…we grow…
Impact of trade wars on growth-inflation dynamics weighed on MPC vote
The reduction in the policy rate will bolster private consumption and support a revival in private corporate investment activity amidst uncertain global outlook due to trade wars according to RBI governor Sanjay Malhotra justifying his decision to vote for a…
India first to seal trade pact terms with Trump 2.0 as talks set to begin
India and the US have finalised the terms of reference for the proposed Bilateral Trade Agreement (BTA), laying a platform for formal negotiations to start. This is the first such framework finalised by the new Donald Trump administration for a…
India needs 7.3% annual growth to be a developed country by 2047: CSEP
India will require an average annual growth rate of 7.3% between 2024 and 2047 to realise the goal of emerging as a developed nation by the centenary of its independence, according to a paper by the Centre for Social and…
India, US set the stage for trade talks with fresh roadmap in hand
India and the United States have moved a step closer to a comprehensive trade deal after finalising the Terms of Reference (TOR) that will guide upcoming negotiations. The announcement was made in a joint statement after US Vice President JD…
Govt launches monthly unemployment tracker, first data to be out on May 15
The first set of monthly unemployment data will be released on May 15 by the Ministry of Statistics and Programme Implementation, a government senior official said on Monday. The monthly data for January, February, and March will be released on…
Modi’s Saudi Arabia visit: Riyadh eyes larger share of oil exports, refinery investment
New Delhi: Prime Minister Narendra Modi’s two-day Saudi Arabia visit beginning Tuesday is expected to boost the existing robust energy partnership in both oil supplies as well as refineries. Saudi Arabia, which is among the top three crude suppliers to…
India eyes Rs 1000 crore opportunity to export rapeseed to China
The China-Canada tariff war has opened up a Rs 1000 crore opportunity for India to export to Beijing rapeseed meal, a by product of mustard oil production. Such exports to China have gathered pace during past couple of weeks. The…
RBI Guv warns of dwindling money market liquidity
Mumbai: The Reserve Bank of India (RBI) governor, Sanjay Malhotra, Friday underscored the risks of dwindling liquidity in the call money market, a situation that could compromise transmission efficiency and prevent the economy from extracting optimal benefits through the current…
High tariffs once criticised by rich nations now back in global trade debate: Sources
Imposition of high tariffs to protect domestic industries, once criticised by developed nations, is back in global trade and the rationale for levying such duties, which was earlier championed by developing countries, is also making a comeback in trade talks,…
Move to protect against cheap imports hurts Electronics Inc
New Delhi: The Centre’s move to shield consumers against substandard and cheap imports, especially from China, has had an unintended negative consequence: Supply chain risks for electronics manufacturing and exports. Aluminium, steel, copper and other high-volume base metals come under…
No GST on UPI transactions over Rs 2,000, clarifies govt; terms rumors as baseless
The Ministry of Finance has categorically denied recent rumors suggesting that it is planning to impose Goods and Services Tax (GST) on Unified Payments Interface (UPI) transactions exceeding Rs 2,000. In an official statement issued on Friday by the Press…
India to face global disruptions with policy agility: Finance Minister Nirmala Sitharaman
Mumbai: Finance Minister Nirmala Sitharaman Thursday said India will focus on policy agility amid an intensifying tariff war between the two biggest economies on the planet, seeking to mitigate the expected adverse impact on supply chains due to the surge…
Indian official team likely to visit Washington next week for trade talks
An Indian official team is likely to visit Washington next week to iron out differences on certain issues before formally launching negotiations for the proposed India-US bilateral trade agreement (BTA), an official said. The visit, which comes within weeks of…
China floods Indian markets as trade deficit soars past $99 billion
New Delhi: India’s trade deficit with China surged to a record $99.2 billion in the just-ended fiscal year, while it registered a trade surplus of $41.2 billion with the US, showed official data released on Wednesday. India had trade deficits…
India eyes ending import tax on US ethane and LPG in trade talks, sources say
India plans to end taxes on U.S. ethane and liquefied petroleum gas (LPG) imports under broader negotiations with Washington as it looks to reduce its trade surplus and ease its tariff burden, three sources familiar with the matter said. The…
India must move fast on FTAs or miss the global pivot, warns ITC chairman Sanjiv Puri
New Delhi: Bilateral economic pacts and free trade agreements must be “absolutely” expedited, ITC chairman Sanjiv Puri told ET, as a tariff-torn world scrambles to redraw trade frontiers that could help expand India’s bailiwick in several sectors where it is…
India going for trade liberalisation with US; in-person trade talks likely to start next month
India has decided to follow the trade liberalisation path with the US, and both countries are negotiating a bilateral trade agreement (BTA) for which in-person talks are expected to begin next month, senior government officials said on Tuesday. India and…
India sees export opportunity in 10 products amid US-China tariff war
New Delhi: India has identified at least 10 sectors, including apparel and clothing accessories, chemicals, plastics and rubber, where high US tariffs give New Delhi a competitive advantage in the American market over other suppliers, said officials in the know….
India’s polished diamond exports hit two-decade low, industry group says
India’s exports of cut and polished diamonds plummeted to their lowest level in nearly two decades in the 2024/25 fiscal year, which ended in March, on sluggish demand from the United States and China, a leading trade body said on…
Zero-tariff US deal? There’s zero chance!
India is unlikely to offer a ‘zero-for-zero’ tariff deal to the US as part of the Bilateral Trade Agreement (BTA) the two are negotiating, officials said, adding that such an arrangement can only be made between developed countries. The BTA…
Crude soyabean oil import jumps 2-fold to 19.11 lakh tonne during Nov ’24-Mar’25: SEA
India’s import of crude soyabean oil more than doubled to 19.11 lakh tonne in the first five months of current oil marketing year ending October 2025, according to edible oil industry body SEA. The Solvent Extractors’ Association of India (SEA)…
Tariffied shrimp exporters look beyond US shores
Pune: India’s nearly $5 billion shrimp export industry, which is heavily reliant on the US, has suggested various measures to the government to diversify the risks of overdependence on a single market. This comes as the industry expresses relief with…
India-Italy business ties, India Middle East Europe Economic Corridor get big boost
Antonio Tajani, Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation of Italy is visiting India from 11-12 April. He was accompanied by the Minister of University and Research, Anna Maria Bernini, and a large delegation of businesses,…
Taxmen defy ‘clean slate’ rule, hit insolvent firms with fresh demands
New Delhi | Mumbai: Assessing officials continue to raise fresh tax demands on companies coming out of corporate insolvency, defying the ‘clean slate’ provision provided under the Insolvency and Bankruptcy Code (IBC) and multiple court rulings, throwing successful resolution applicants…
India’s forex reserves rise by $10.8 billion to $676.26 billion as of April 4, 2025
India’s forex reserves rose by $10.8 billion to $676 billion as of the week ending April 4, 2025, data released by the Reserve Bank of India showed on Friday. India’s forex kitty The central bank releases India’s forex reserves’ data…
India offers UK an EV trade-off: Luxury imports for budget exports
India has offered to allow unlimited imports of electric vehicles priced more than GBP 80,000 (about ₹89 lakh) from the UK in lieu of a larger export quota of smaller EVs priced less than GBP 40,000 (₹44 lakh) to the…
Moody’s Analytics cuts India’s 2025 growth forecast by 30 basis points citing US tariff impact
Moody’s Analytics has downgraded India’s growth forecast for 2025 by 30 basis points to 6.1% from the baseline it forecast in March, following the latest announcement of U.S. tariffs. “Although U.S. President Donald Trump has just declared a 90-day freeze…
Lock, stock, and no cheap China imports
Wary of cheap Chinese goods flooding India, policymakers are identifying markets and goods that need to be ringfenced through a minimum import price, safeguard duties or other steps, officials said. The preventive measures have acquired urgency after the US on…
New gold loan rules on cards: RBI proposes stricter norms, including monitoring use of funds
The Reserve Bank of India on April 9 unveiled a new set of stricter regulations for financial institutions that give gold loans, which are basically loans secured by gold. The move RBI has proposed is aimed at refining the underwriting…
Middle ground: India open to zero duty on imports from US in PLI, some other sectors
New Delhi: India is open to allowing zero duty import of goods from the US in several sectors, including those covered under the production-linked incentive (PLI) schemes, people familiar with the development said. Officials said a generous offer by India…
DGTR recommends countervailing duty on copper wire imports
The Directorate General of Trade Remedies (DGTR) has recommended 3.46% to 10.27% countervailing duty (CVD) on copper wire imports from Vietnam, Thailand, Malaysia, and Indonesia. The duty, if imposed by the Finance Ministry, will hit margins of electrical wire makers…
Import monitoring group to check for dumping of goods in India
India is setting up an import monitoring group for certain products including consumer goods to check diversion from countries which face US reciprocal tariffs that are higher than on India, such as China and Vietnam. “There are some products where…
Govt stepping up efforts to help exporters; working group to monitor possible import surge
The commerce ministry is stepping up efforts to help exporters explore new markets to push outbound shipments while also setting up a working group to monitor possible surge in imports from countries like China to tackle the impact of sweeping…
Glass half full: India could take big gulp of US dairy export market
By kicking off the tariff war, the US has inadvertently ceded half of its dairy export market to India, according to Jayen Mehta, managing director of Gujarat Co-operative Milk Marketing Federation (GCMMF), owner of leading dairy brand Amul. Nearly 50%…
Developed nations indicating softening stance on non-trade issues in FTA talks: Sources
Developed countries are indicating that they are ready to proceed with negotiations for proposed free trade agreements (FTAs) without insisting much on the inclusion of non-trade issues like sustainability and climate obligations, according to sources. They said gradually those countries…
India to be patient in trade talks, to protect dairy, agriculture; Curb Chinese dumping: Officials
New Delhi: India will negotiate its trade agreements carefully and patiently in the wake of the tariffs imposed by the Donald Trump administration and protect its sensitive sectors like dairy and agriculture, officials said Saturday, citing the example of the…
Trump tariffs force global retailers to reassess sourcing strategies, share burden with Indian exporters
The imposition of higher tariffs by the US has sparked immediate concerns and negotiations between Indian exporters and US buyers. In response to the tariff hike announced by President Donald Trump, US buyers are seeking price reductions of 15-20% on…
India hopeful of finalising FTA with EU soon: MEA
The Ministry of External Affairs on Friday said India is hopeful that Free Trade Agreement (FTA) with the European Union will be finalised soon. During the recent visit of College of Commissioners, led by European Commission President Ursula von der…
Cabinet approves four railway multitracking projects worth Rs 18,658 crore
The Cabinet Committee on Economic Affairs (CCEA) approved four multitracking projects worth Rs 18,658 crore this week. Addressing journalists on Friday, Union Railways, Information Broadcasting, and Information Technology Minister, Ashwini Vaishnaw said these initiatives will improve travel convenience, reduce logistic…
Trump tariffs trigger tremors: How India plans to navigate the 27% trade shock
US President Donald Trump unleashed a barrage of tariffs going up to 99% against the country’s trading partners, making good on his long-standing threats and potentially dragging the world into a trade war as he sought to address a $1.2…
US reciprocal tariff may erode India’s GDP by up to 50 bps: Experts
The reciprocal tariff announced by the Trump administration can shave off India’s GDP growth rate by up to 50 basis points to 6 per cent and the country’s exports to the US could fall by 2-3 percentage points in the…
India to face 26% US tariff as Trump unveils reciprocal trade measures on global imports; China hit with 34%
After weeks of anticipation, President Donald Trump unveiled a new set of tariffs on both allies and adversaries, aiming to address what he describes as unfair trade practices. The tariffs, which are set to impact countries that impose high duties…
Odisha makes first-ever global export of Moringa, Parwal to Dubai
Odisha has recorded its first-ever international export of drumstick (moringa) from the Rayagada district and pointed gourd (parwal) to Dubai. The consignment, totalling 910 kg, was shipped through Biju Patnaik International Airport (BPIA), Bhubaneswar, reflecting Odisha’s expanding footprint in global…
EU pushes for MFN provision in India trade talks, eyes US-style concessions
The European Union is pressing for inclusion of a “forward most-favoured-nation (MFN)” provision in free trade agreement (FTA) talks with India, which would require the latter to make concessions similar to those offered to the US in a proposed bilateral…
Trump Tariffs: Indian exporters prepare for potential turbulent times
Indian businesses are bracing for a turbulent start to the new financial year, as the threat of reciprocal tariffs from US President Donald Trump looms large. Exporters are already feeling the pinch, particularly those dealing in engineering goods, iron and…
MSMEs file 47k claims for dues of Rs 8,025 crore
Over 47,000 applications were filed by small businesses to recover dues worth ₹8,024.9 crore in FY25, according to the data from MSME Samadhaan Portal, a government-run platform for monitoring delayed payments. The number of applications surged 94.1% to 47,587 in…
Provident Fund boost for 7.5 crore Indians! Govt to raise auto settlement of PF withdrawal limit to ₹5 lakh
To expand the ‘Ease of Living’ of its 7.5 crore members, Employees Provident Fund Organisation (EPFO) has decided to enhance the auto settlement of advanced claim (ASAC) limit by five times from currently Rs 1 lakh, sources told ANI. According…
Products from concessional steel for MSMEs need to be fully exported
Companies procuring steel at concessional rates under a special mechanism being finalised by steelmakers to support the micro, medium and small enterprise (MSME) sector will need to ensure that the finished products are solely for exports, people privy to the…
No sign of India tariff relief as US trade mission ends
India and the United States have agreed to finalise part of a bilateral trade deal by this year but neither side gave indications of any tariff exemptions for the world’s most populous nation. Both countries held trade talks in New…
Global risks won’t abate, need to be more purpose-oriented: Finance secretary Ajay Seth
New Delhi: Finance secretary Ajay Seth Saturday said global uncertainties may not subside over the medium term and India has to do things differently in a more “purpose-oriented” manner to realise its goal of emerging as a developed nation by…
Ease of Doing Business 2.0: New panel to begin work on business reforms for cutting red tape
A high-level committee on regulatory reforms in the non-financial sector will soon begin its work to improve ease of doing business as announced in the Budget 2025-26, Finance Secretary and Economic Affairs Secretary Ajay Seth said on Saturday. The panel,…
Fiscal deficit at 85.8% of revised annual target till Feb
New Delhi: The Centre’s fiscal deficit until February in this financial year touched 85.8% of the revised annual target, compared with 86.5% a year before, thanks to tight spending, particularly capital expenditure, showed official data released on Friday. The data…
India weighs scrapping import tax on US LNG, boost purchases, sources say
India is considering a proposal to scrap import tax on U.S. liquefied natural gas (LNG) to boost purchases and help cut the trade surplus with Washington, a key irritant for President Donald Trump, four government and industry sources said. The…
India-US trade pact to be good for both; our interests will be protected: Piyush Goyal
The ongoing talks between India and the US for the proposed bilateral trade agreement (BTA) are progressing and will be “good” for both the nations while protecting India’s interests, commerce and industry minister Piyush Goyal said at the summit on…
RBI to cut rates again on April 9, then just once more in August: Reuters poll
The Reserve Bank of India will cut interest rates at a second straight meeting on April 9, with just one more cut expected in August, which would mark the shortest easing cycle on record, a Reuters poll of economists found….
State debt to hit Rs 94 lakh cr: Report
New Delhi: States’ debt is projected to reach ₹94.4 lakh crore by March 2025, accounting for 32.7% of gross state domestic product (GSDP), according to a CareEdge Ratings report released Wednesday. The debt is expected to rise further to ₹103.6…
America’s pain, India’s gain? US recession can actually be helpful
As US President Donald Trump’s tariffs threaten global trade and economy, India is on target for Trump’s reciprocal tariffs from April 2. Meanwhile, Trump has announced he would levy a 25 percent “secondary tariff” across the board on any country…
Yields of March help states borrow more in absence of G-Secs
Mumbai: States have increased their borrowings in the last month of the financial year, as raising funds is comparatively cheaper with low yields, due to the absence of central government security auctions in March, treasury experts said. Cut-off on 10-year…
IBC’s recovery woes: How India can fix the leaks and not just patch the cracks
The Insolvency and Bankruptcy Code (IBC), faces persistent scrutiny regarding its recovery rates. Whilst the IBC was designed as a resolution mechanism, public perception continues to view it through the lens of monetary recovery. Two related vexatious issues are partly…
Chhota pataka, bada dhamaka: Small consumer cos beat bigger rivals in volume growth last year
Mumbai: Small consumer firms outpaced their big rivals in urban India in the past year, growing twice as fast, as these nifty players took away market share amid a broad-based consumption slowdown, show latest data from market tracker Kantar. Big…
Senior US trade official on crucial visit to India this week
Brendan Lynch, the assistant US trade representative for South and Central Asia will pay a five-day visit to India beginning Tuesday to discuss issues relating to trade and tariff between the two countries. Lynch’s visit comes days ahead of coming…
ITL weighs tractor exports from India instead of US
Mumbai: International Tractors (ITL) that sells under the Sonalika brand is weighing the possibility of exporting tractors to Mexico and Canada from India instead of its Atlanta facility, to avoid being caught in the crossfire between the US and its…
india customs rules: Customs rule of origin changes may raise compliance cost for importers: GTRI
The amendments in the customs rules to tighten checks on goods imported under free trade agreements (FTAs) could make it harder for businesses to do imports at concessional duties and may increase compliance cost, economic think tank GTRI said on…
India’s agri growth rate to be 20% in 2 years, says Nitin Gadkari; flags high logistics cost
India’s agricultural growth rate is expected to be 20 per cent in the next two years and the Centre’s first priority is to make the sector economically viable and create more jobs, Union Minister Nitin Gadkari said on Saturday. Around…
Reliance on dollar not weakened: India steers clear of any BRICS currency move amid Trump’s big warning
India has defended its role within BRICS following US President Donald Trump’s fresh threats of a 100% tariff on imports from the bloc. While reaffirming its commitment to BRICS, India has distanced itself from any initiative to weaken the dollar…
India, US in talks to settle tariff-related issues: MEA
New Delhi: India and the US are engaged in discussions to resolve tariff-related issues, with both nations working towards the framework for a bilateral trade agreement, external affairs ministry spokesperson Randhir Jaiswal said Friday. “…I would like to emphasise that…
India faces limited impact from US trade policies, but risks remain: UBI Report
New Delhi: India’s economy may be shielded from the full effects of US trade tensions due to its trade balance with the US, but the final impact will depend on the contours of a trade deal between the two nations…
Pillow stuffing from Thailand and China faces dumping probe
New Delhi: India has initiated an anti-dumping investigation on flexible slabstock polyol (FSP) imported from China and Thailand, according to a notification issued by the Directorate General of Trade Remedies (DGTR). FSP is used for manufacturing upholstery, mattresses, pillows, bolsters,…
UPI incentive of Rs 1,500 crore ‘insufficient’ to sustain digital payment ecosystem: Payments Council of India
The Payments Council of India (PCI) on Thursday raised alarm over the sustainability of the digital payments ecosystem, citing concerns about the recent zero MDR policy and reduced government incentives at Rs 1,500 crore. As fintech companies navigate a rapidly…
Fitch retains FY26 India growth at 6.5%
New Delhi: India’s low reliance on external demand is expected to shield the country from US trade policies, Fitch Ratings said Wednesday. While India’s economic growth forecast for FY26 is unchanged at 6.5% from the December outlook, the projection for…
Fitch tweaks FY26 India growth aim to 6.5% and makes rate cut predictions
Fitch Ratings on Tuesday updated its economic forecast for India, projecting a growth rate of 6.5 percent for FY25-26 and 6.3 percent for FY26-27, amid challenges posed by a global trade war instigated by the US. In its March edition…
India’s auto parts & medical exports show robust growth, with $7.7 billion in auto parts shipments in FY24
New Delhi: Exports of auto components as well as medical and scientific instruments have demonstrated robust growth over the past three years, an official said Tuesday. Auto parts exports rose to $7.7 billion in FY24 from $6.88 billion in FY22…
India, New Zealand’s proposed FTA could boost trade by 10x in 10 years
India and New Zealand are negotiating a Free Trade Agreement (FTA), as part of which Union Minister for Trade and Commerce Piyush Goyal on Tuesday said that bilateral trade might see a great boom between two nations. Amid a global…
February trade deficit at 3.5-year low, exports continue fall
New Delhi: India’s merchandise exports contracted at the sharpest pace in 20 months and shrank for the fourth straight month by 10.9% to $36.91 billion in February, pulled down by the high base effect, official data showed. Imports dipped 16.3%,…
India and New Zealand to begin talks on FTA after a decade, announces PM Modi
India and New Zealand will begin talks for a proposed free trade agreement, announced Prime Minister Narendra Modi on Monday. The FTA was stalled in 2015 following their failure to narrow differences in sensitive areas including dairy and agriculture. India…
India-New Zealand FTA talks back on track after 10 years
New Delhi: India and New Zealand on Sunday announced the resumption of negotiations for a proposed free trade agreement, after it was stalled in 2015 following their failure to narrow differences in sensitive areas including dairy and agriculture. India and…
india trade deficit: India’s merchandise trade deficit will be under pressure in fiscal 2026, services sector to provide respite: Crisil
India’s merchandise trade deficit will be under pressure in the fiscal year 2026, as domestic private consumption is expected to remain strong, maintaining imports up, the rating agency Crisil said in its recent report. According to the rating agency, India’s…
CBDT clarifies exemptions from principal purpose test in double taxation avoidance agreements
India’s Central Board of Direct Taxes (CBDT) has clarified that exemptions from the Principal Purpose Test (PPT) under Double Taxation Avoidance Agreements (DTAAs) with countries like Mauritius, Cyprus, and Singapore won’t interfere with domestic anti-abuse rules. This clarification is significant,…
Tamil Nadu announces special package for paddy growers, international exposure visit for farmers
Tamil Nadu government will implement a special package to increase the paddy area and food grain production during Kar, Kuruvai and Sornavari seasons, in 29 non-Cauvery Delta districts at an outlay of Rs 102 crore, state Agriculture Minister M R…
India, China outperform global trade in 2024, trade resilience stressed in 2025: UNCTAD
China and India outperformed global trade averages in 2024, UN Trade and Development (UNCTAD) said in its Global Trade Update Friday. It said that trends like the widening deficits of the US and EU with China along with India’s rising…
“Approach will be guided by India First,”: Piyush Goyal on his meeting with US Trade representative
Commerce Minister Piyush Goyal on Friday said that he had a “forward looking” discussion with US Trade Representative Jamieson Greer on a mutually beneficial bilateral trade agreement. “Our approach will be guided by ‘India First’, ‘Viksit Bharat’ and our Comprehensive…
Unchanged global climate policies will cost India 19% and world 15% of GDP by 2050: Sabine Mauderer, Chair, NGFS
India is among the countries to benefit the most from a global transition towards net zero emissions, says Sabine Mauderer, chair of the Network for Greening the Financial System (NGFS), a grouping of central banks and supervisors set up to…
Blackstone’s CEO sees the good thing about Trump tariffs, confident on India’s growth
Blackstone chairman and CEO Stephen Schwarzman believes the new US tariff regime has the potential to boost growth and strengthen American consumption demand by attracting foreign investment. Speaking during his visit to India to mark Blackstone’s 20th anniversary in the…
Private sector in india stays positive despite slight dip in confidence, survey finds
Private sector companies in India remain optimistic about demand conditions over the next 12 months, according to a private survey released on Wednesday. New projects, product differentiation, advertising and tech investment are some of the key reasons behind this confidence,…
India’s GDP growth to surpass 6.5% in FY26, driven by Sitharaman’s tax cuts: Moody’s
India’s real Gross Domestic Product (GDP) growth is projected to exceed 6.5% in the fiscal year ending March 2026, said Moody’s Ratings in its latest Banking System Outlook – India report, released on Wednesday. The agency attributed this growth to…
FIEO launches SheTrades India hub for women entrepreneurs
The Federation of Indian Export Organisations (FIEO), in collaboration with the International Trade Centre (ITC) and with financial support from the UK government, Tuesday launched SheTrades India Initiative Hub to empower women entrepreneurs. SheTrades will serve as a comprehensive resource…
Govt ready to include farmers in PM Kisan Samman Nidhi who are not part of it yet: Agri minister
New Delhi: The government is ready to provide Rs 6,000 annual cash benefit under the PM Kisan Samman Nidhi to all eligible farmers who are not part of it yet, Union Agriculture Minister Shivraj Singh Chouhan said in the Lok…
Dividend payout from non-financial CPSEs likely to touch fresh highs
The Centre’s dividend collection from non-financial entities in which it holds stakes will likely scale a fresh peak this fiscal year , with the mop-up already touching almost ₹60,000 crore, reflecting strong profitability of state-run firms, said a senior finance…
IRDAI job application: Government invites application for the post of IRDAI chairperson
The Finance Ministry has invited applications for the post of Chairperson at the Insurance Regulatory and Development Authority of India (IRDAI), as the position will be vacant from March 14, 2025. The deadline for submissions is April 6, according to…
DPIIT seeks industries’ monthly production data since Apr’22 for IIP
New Delhi: The Department for Promotion of Industry and Internal Trade (DPIIT) has asked manufacturing units to submit the monthly production statistics from April 2022 onwards for the new series of Index of Industrial Production (IIP) as India aims to…
India, EU to hold next round of FTA talks from Monday amid Trump tariff threats
India and the 27-nation European Union (EU) bloc will start the tenth round of negotiations for a proposed free trade agreement from Monday in Brussels amid Trump tariff threats, according to an official. The talks are expected to focus on…
‘Silver lining for India if it strikes special deal with US’: Fareed Zakaria
New Delhi: Everyone loses from a tariff war but there may be a silver lining for India if it manages to carve out a special trade deal with the US and substantially brings down barriers, said award-winning Indian-born American journalist…
India should withdraw from all negotiations with US; engage with them likeother countries: GTRI
India should withdraw from all negotiations with the US and prepare to engage with the Trump administration in the same way as countries like China and Canada are doing, economic think tank GTRI said on Saturday. The Global Trade Research…
China calls for stronger India ties amid trade war fears
Facing a fresh trade war under the new Trump administration, China sought to further stabilise ties with India, with its foreign minister Wang Yi on Friday stating that Beijing’s relations with New Delhi had made positive strides in the past…
Trump tariff could become a catalyst to tackle high import tariffs & low FDI hitting India’s exports: HSBC
India’s export growth has been hampered over the past decade due to a combination of high import tariffs and low foreign direct investment (FDI) in mid-tech manufacturing sectors, according to a report by HSBC. The report suggests that potential trade…
ICAI submits suggestions to LS committee on new Income Tax Bill; proposes simplification
The Institute of Chartered Accountants of India (ICAI) on Thursday submitted a raft of suggestions to the Lok Sabha Select Committee that is scrutinising the new Income-tax Bill, its president, Charanjot Singh Nanda, said. These include pruning the number of…
Through thick and tariffs: India sees US relations at ‘best’ despite looming Trump tax threats
India’s top diplomat said relations with the US are on firm footing in comments that come as New Delhi looks to lower tariffs on imports to fend off President Donald Trump’s threatened reciprocal levies that could upend bilateral and global…
RBI’s record $77.5 billion short positions may impact rupee liquidity and forex reserves
The Reserve Bank of India’s net short positions in the dollar forward book may have to be rolled over and more could be added in the longer tenure segment as any unwinding will squeeze rupee liquidity. However, the trading position…
Robust demand propels India’s services sector growth in February, PMI shows
Growth in India’s services sector accelerated in February, supported by robust demand and a firm business outlook that led to a substantial increase in hiring, a survey showed. Asia’s third-largest economy expanded 6.2% year-over-year last quarter, lifted by government and…
Committed to reducing regulatory burden: FM Nirmala Sitharaman
The Centre remains steadfast in reducing regulatory burden and enhancing trust-based governance to improve ease of doing business, FM Nirmala Sitharaman said on Tuesday. “Through the budget announcements, we are taking various steps in making India a seamless, export-friendly economy,…
Plans afoot to add local bodies to TSA mechanism by FY27
The Centre is working on the next version of the Public Financial Management System 2.0 to ensure efficient and transparent utilisation of funds of urban and rural local bodies, harnessing the Treasury Single Account (TSA) mechanism. The Controller General of…
Bargaining with Brussels: India-EU free trade talks in focus
India and the European Union (EU) have resolved to conclude a free trade agreement (FTA) by the end of this year. As negotiations progress, key elements of New Delhi’s trade relationship with Brussels are under discussion. Trade Figures The EU…
Commerce Minister Piyush Goyal heads to US for trade talks as Trump tariffs loom, officials say
India’s trade minister Piyush Goyal started on a trip to the United States on Monday to pursue trade talks, two government officials said, with weeks to go for President Donald Trump’s planned reciprocal tariffs. Goyal’s visit was sudden, as he…
Wheat crop likely to be hit as harsh summer predicted
Pune: Anticipated above normal temperatures in March through May summer is likely to adversely affect India’s wheat crop. Inflation in wheat has remained high for the past four years mainly due to the adverse impact of weather conditions. After having…
India’s economy set for Q4FY25 boost with increased govt. spending and capex: UBI report
India’s economy is expected to see a boost in Q4FY25, supported by a sustained increase in government spending and capital expenditure (Capex), alongside a pickup in consumption driven by the Maha-Kumbh and wedding season, according to a report by Union…
India, EU discuss efforts to accelerate FTA discussions
India and the EU are aiming to finalize a free trade agreement by the end of the year. Commerce Minister Piyush Goyal and EU Trade Commissioner Maros Sefcovic held talks in Mumbai to push for a balanced and mutually beneficial…
Future growth trajectory of India will be led by revival in private investment: SBI
Future growth trajectory of the country will be led by revival in the private investment, according to a report by the State Bank of India (SBI). The report added that the decline in gross capital formation (GCF) in FY24 is…
Can a Lorry Cover Protect Cargo from Harsh Weather Conditions?
Lorry Cover Protect Cargo from Harsh Weather Conditions A lorry cover is an essential item for anyone involved in transporting goods via lorry, especially when navigating unpredictable weather conditions. Harsh weather, such as heavy rain, snow, or intense sun, can…
Coal & electricity slow core sector growth to 4.6% in January
India’s core sector growth marginally slowed to 4.6% in January from 4.8% in the month before, due to moderation in the coal and electricity sectors, according to official data released Friday. On a yearly basis, however, the growth accelerated from…
EPFO fixes 8.25 pc interest rate on employees’ provident fund deposits for 2024-25
The Employees’ Provident Fund Organisation (EPFO) has set the interest rate on employees’ provident fund (EPF) deposits at 8.25% for the financial year 2024-25, according to PTI sources. The EPFO has more than 65 million subscribers. Monitoring your PF balance…
EPFO rate likely to be out today
The central board of trustees (CBT) of the Employees’ Provident Fund Organisation (EPFO) is expected to deliberate and announce the interest rate on provident fund deposits for 2024-25 when it meets on Friday. The EPFO is expected to either keep…
Space economy to grow fivefold to $44 billion in a decade, says Union Minister Jitendra Singh
New Delhi: India’s space economy is set to grow fivefold to $44 billion in the next decade, with private investments already crossing ₹1,000 crore, union minister of state for Science & Technology Jitendra Singh said on Tuesday. “Missions like Gaganyaan…
Australia to invest $16m to boost trade ties with India
New Delhi: Australia on Wednesday unveiled an ambitious roadmap to expand and diversify its trade and investment ties with India with a focus among other issues on defence industries, sports, culture, space and technology.The roadmap identified four “superhighways of growth”…
EU to seek India’s help to enforce sanctions on Russia
European Commission President Ursula von der Leyen will seek assistance from Indian Prime Minister Narendra Modi to enforce sanctions on Russia when the two leaders meet this week in New Delhi.Von der Leyen and other European Union officials will also…
India, EU to firm up cooperation in AI, EVs, semiconductors & telecom
India and the European Union at their high-level meeting here this week are expected to agree to collaborate in areas such as artificial intelligence, electric vehicles, semiconductors and telecoms, with a focus on “secure and trusted” connectivity to provide an…
India imports 49 bn euro worth of Russian oil in 3rd year of Ukraine invasion
New Delhi: India, the world’s third largest oil consuming and importing nation, bought crude oil worth 49 billion euros from Russia in the third year of Moscow’s invasion of Ukraine, a global think tank said. India, which has traditionally sourced…
India’s Feb gold imports to hit 20-year low on record high prices, sources say
India’s gold imports are set to tumble 85% in February from year ago levels to their lowest in 20 years, with demand sapped by record prices for the precious metal, a government official and three bank dealers told Reuters. Lower…
Switzerland, EFTA nations to invest $100 bn in India over 15 years says Consul General of Switzerland
Switzerland and other European Free Trade Association (EFTA) nations, including Iceland, Liechtenstein, and Norway, are set to invest USD 100 billion in India over the next 15 years, according to Martin U Maier, Consul General of Switzerland in Mumbai.Speaking exclusively…
Union budget aims to build healthy economy with long-term vision: Mansukh Mandaviya
Praising the Union budget, Union Minister Dr Mansukh Mandaviya on Sunday said that the budget aims to make a healthy economy by setting a proper roadmap with a long-term vision. He said that time has changed in the last 10…
India’s coal imports flat at 201 MT in Apr-Dec period
New Delhi: India’s coal imports remained flat at 201.30 million tonnes (MT) in the April-December period of the ongoing financial year. The country’s coal import was 201.52 MT in the year-ago period, according to the data compiled by mjunction services,…
Govt working out scheme to prevent distress sale of farmers’ produce: Agriculture Minister Shivraj Singh
Union Agriculture Minister Shivraj Singh Chouhan on Saturday said the government is working out measures to ensure that farmers do not have to sell their produces, especially fruits and vegetables, at throwaway prices. Speaking after inaugurating the ‘Pusa Krishi Vigyan…
India’s GDP growth likely to improve to 6.2 pc in Q3FY25 from 5.4 pc in Q2FY25: Union Bank of India
India’s economic growth is expected to pick up momentum in the third quarter of the financial year 2024-25 (Q3FY25), with GDP growth estimated at 6.2 per cent, up from 5.4 per cent in the second quarter (Q2FY25), according to a…
Tracking inflation: MoSPI in talks to include ecommerce data in CPI
New Delhi: The government has set the ball rolling on including ecommerce data in the new Consumer Price Index (CPI). The Ministry of Statistics and Programme Implementation (MoSPI) has begun inter-ministerial discussions and talks with ecommerce companies on the best…