News Buzz

SaaS startup joins unicorn fleet

API developer, Postman has raised US$ 150 million in an investment round spearheaded by Insight PArtners, a US based venture capital.

Pandemic expedites ease of doing business plan

The disruptions induced by the covid-19 have changed the way the government is doing business, encouraging it to adopt new strategies to mitigate hurdles. 

Exporters jittery, though export queries rise

Exporters in the industry are worried about the sharp rise in orders as they grapple with rising labour prices amid rising export queries.

Exports are improving: CIM

Commerce & Industry Minister, Shri Piyush Goyal is of the opinion that the country's exports have shown improvement in May though they came down by 36% yoy.

27% dip in global goods trade in Q2: UNCTAD

UNCTAD said that the value of global trade in goods is likely to fall by 27% in the ongoing quarter due to the “unprecedented effects of the pandemic”.

EU-UK policy hurting Indian agri exports

A group of countries, including India claim that EU and the UK's joint policy on agricultural imports is harming their exports.

Singapore: Top mkt for Indian engineering exports

EEPC revealed that with India's exports rising 95% yoy to US$553 million, Singapore was India's biggest overseas market for engineering parts in April. 

S&P predicts a stable outlook for India’s credit rating

S&P Global Ratings on Wednesday maintained India’s lowest investment grade (BBB-) credit rating with a fairly stable outlook.

Govt curbs export of specific Covid-19 diagnostic kits

The government restricted the exports of Swabs sterile synthetic fibre swabs, probes and primers specific for Covid-19 testing.

93% yoy dip in pvt equity flows in realty in 2020

With merely 5 deals being concluded in the past 5 months, funds inflow into India’s property sector declined 93% year-on-year to US$ 238 million.

Govt open to pvt sec participation in satellites

The government is open to allowing private companies to launch satellites, start space-based services and explore other planets and outer space.

Govt plans to set up 3,500 FPOs in 3 years

The government is looking to create 3,500 farmer producer organisations (FPOs) in next three years with the intention to boost the income of farmers.

Spending cut by urban consumers likely: EY

A report based on global trends & primary research by EY has revealed that at least five out of 10 urban consumers will continue to cut back on spending.

Karnataka’s STPI units export services worth Rs 36,459 cr

The software technology parks of India (STPI) units in Karnataka exported services worth Rs 36,459 crore during the past three months.

Adani Green wins world’s largest solar project

Adani Green Energy Ltd has sealed a manufacturing-linked solar contract worth US$ 6 billion with the Solar Energy Corporation of India (SECI) to develop 8 GW of projects.

Dip in no. of Indian STEM students in US

NFAP has found that there has been a decline by over 25% between academic years 2016-17 and 2018-19 in Indian science & technology students going to the US.

Sharp dip in urban unemployment: CMIE

India's urban unemployment rate fell to 17.08% in the week ended 7 June from 25.14% in the week ended 31 May as per the data released by the CMIE.

Hike in edible oil import taxes likely

As the country seeks to be self-reliant by augmenting the domestic oilseed production, India is considering raising import taxes on edible oils.

Mid-tier Indian IT firms see new deals

Breaking the halt in any activity, a number of mid-tier technology services firms have signed on fresh deals over the months of April and May.

PPE makers to gear up for global certification

At a time when demand for PPE is at an all-time high, the government has asked industry to prepare for global certification to facilitate their exports.

Rs 8,320-cr loan granted to MSMEs under ECL scheme

Public sector banks have disbursed Rs 8,320 crore till June 5 under the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector.

Discoms’ debt to touch Rs 4.5 lakh cr by FY21: Study

CRISIL Ratings said that the debt of power distribution utilities will touch an all-time high of Rs 4.5 lakh crore by the end of the ongoing financial year. 

22% yoy dip in cargo volumes in April-May

According to industry estimates, cargo volume handled by major Indian ports dropped 22% during the first two months of the ongoing fiscal to 92.82 MT.

Full IBC suspension to hurt lenders

Experts opine that a complete suspension of IBC cases for defaults between March & September will make it difficult for banks & investors to recover loans.

Industry bets on 100% automatic FDI in satellites

Firms have urged the finance minister to allow 100% FDI through the automatic route to attract investment into the space/satellite broadband sectors.

India gears up for short-term RE trade

Moving away from setting up long-term projects, India is finalizing the contours of green markets for short-term trade of renewable energy.

Dip in India’s services sector May activity

As the coronavirus brought activity to a near standstill, India’s enormous services industry endured devastating contraction in May.

Anti-dumping duty on certain steel items extended

The Department of Revenue said in a notification that the government has extended anti-dumping duty on certain variety of steel products till December 4.

India, Australia ink several pacts

PM Shri Narendra Modi & his Australian counterpart Scott Morrison upgraded their ties to a comprehensive strategic partnership & signed several agreements.

Govt releases new SOPs for hotels & restaurants

The Ministry of Health and Family Welfare has released SOPs on preventive measures to be taken in hotels and hospitality units to prevent the spread of COVID-19.

Signs of recovery emerge in May

According to official data, goods movement, which had contracted sharply in March and April, picked up noticeably in May.

SWADES initiative to map skills of foreign returnees

Under SWADES initiative, the government will conduct a skill mapping exercise of workers returning to India from overseas.

51% dip in credit card spending in April: Survey

A survey by digital platform CRED revealed that credit card spending tumbled falling by 10% in March & 51% in April amid the coronavirus lockdown.

MHA allows foreign businessmen, technocrats to visit India

The Home Ministry has allowed foreign businessmen, healthcare professionals and engineers to visit India on the condition that they obtain fresh visas.

13 startups get nod to fly drones

The Directorate-General of Civil Aviation has given nod to a  consortia of 13 delivery startups to test fly beyond visual line of sight (BVLOS) drones.

99% yoy dip in India’s gold imports in May

India's gold imports in May plunged 99% from 133.6 tonnes last year in May to around 1.4 tonnes of gold in May this year.

US probes digital services taxes

The United States Trade Representative (USTR) on Tuesday initiated investigation into digital services taxes (DST) that have been either adopted or are being considered by 10 of its trading partners.

Banks want to restructure loans worth about Rs 3 lakh cr

Indian lenders have sought the permission of the Reserve Bank of India (RBI) for restructuring loans worth about Rs 3 lakh crore given to hospitality, aviation and commercial property companies without downgrading these assets on their books. Without the restructuring relief, nonperforming assets (NPA) on their balance sheets will surge for these banks.

Rs 50k cr schemes to attract electronics makers

Union IT and Telecom Minister Shri Ravi Shankar Prasad on Tuesday, unveiled the guidelines for 3 electronics manufacturing schemes - PLI, SPECS & EMC 2.0. Notified by the Ministry of Electronics and IT (MietY) on April 1, the schemes have a total outlay of Rs 50,000 crore and strive to strengthen domestic manufacturing of five global and five Indian mobile phone makers.

COVID-19: WB bets for policies that induce growth

World Bank urged nations to adopt a dual approach - long-term strategy aimed at resurrecting growth and short-term measures addressing health emergencies - to tackle the economic hardships created by Covid-19 pandemic. Some of the policies suggested to do some damage control include greater debt transparency to invite new investment, faster advances in digital connectivity, and a major expansion of cash safety nets for the poor.

PM bets for leveraging telemedicine in healthcare

Prime Minister Shri Narendra Modi said that the nation must think about applying the “Make in India" initiative in the health sector. India could save up to $10 billion in 2025, if telemedicine replaced 30% to 40% of in-person outpatient consultations and there is digitization in the overall healthcare industry.

Decisions on MSMEs, agri in cabinet meeting

Prime Minister Shri Narendra Modi chaired a cabinet meeting on Monday in which key decisions related to MSMEs and agriculture were announced.

17.92% dip in rural unemployment: Study

The Centre for Monitoring Indian Economy data showed that there has been biggest improvement in percentage terms in the rural job loss rate in nine weeks. Consequently, the national unemployment rate was 20.19% in the week ended 31 May, improving from 24.34% a week earlier, and is the lowest rate of national unemployment rate after 22 March, when it touched 8.41%.

A quarter drop in PV sales in FY21

Research body ICRA expects domestic passenger vehicle demand to decline by almost a quarter in the current fiscal as against earlier projections of a 10-12% drop. Factors like lockdown extensions, liquidity crunch and tighter financing environment, weak rural income and overall slowdown in economic activity have also dampened the sector's performance. 

Validity of scrips for exporters extended

The Directorate General of Foreign Trade (DGFT) has extended the validity of scrips or certificates, provided under export incentive schemes, which are expiring between March 1 and June 30 this year till September 30.

3 Indian cos to make NASA’s Covid-19 ventilator

Three Indian companies Alpha Design Technologies Pvt Ltd, Bharat Forge Ltd and Medha Servo Drives Pvt Ltd, have got licences from NASA to manufacture its indigenously developed ventilators for critical COVID-19 patients.

India should explore pharma mkts in Europe: CIM

Commerce & Industry Minister, Shri Piyush Goyal appreciated the pharma industry for ensuring an adequate supply of all medicines amid ongoing Covid crisis and encouraged businesses to explore untapped markets in eastern Europe and Russia.

15% dip in smartphone sales in 2020 likely

According to market research firms International Data Corporation (IDC) and Counterpoint Research, the estimated sales in the Indian smartphone market are likely to decline by 13-15% due to Covid-19.

India bets for greater TRIPs flexibility at WTO

At the virtual General Council Meeting of the World Trade Organization on Friday, India India has advocated for flexibility in global intellectual property rights (IPR) agreements to ensure access to essential medicines at low costs.

Covid-19, a silver lining for IoT: Experts

Industry analysts opine that the pandemic will usher in new use cases for automation, which will be vital in enhancing production according to short term demand fluctuations and for adaptive manufacturing.

‘Un’lockdown 5.0: India getting back to work

Ministry of Home Affairs has issued guidelines for Lockdown 5.0, which provide a roadmap for phased opening up of the economy in non-containment zones.

18% rise in FDI in 2019-20: CIM

Commerce & Industry Minister Shri Piyush Goyal announced that the total Foreign Direct Investment in India grew at 18% in 2019-20 to US$ 73 billion.

Medicine, food most shipped items in April: Study

The State of logistics in lockdown report by Shiprocket has revealed that medicines and food items were the most sold products across India in April.

DEA plans to tighten the noose around Chinese FPIs

The government has drafted a proposal to sharpen focus on Chinese FPIs by including mainland China & Hong Kong in Sebi’s list of high-risk jurisdictions.

CIM expects exports to improve in May-June

Commerce and Industry Minister Shri Piyush Goyal said that the country's outbound shipments will improve in May and June.

Projects worth over Rs 21.11 lakh cr stuck in red zones

A study by Projects Today unveiled that around 8,917 projects worth Rs 21.11 lakh crore are at a standstill in the 108 red zone districts.

Mask, gloves & PPE makers urge govt to resume exports

Manufacturers of masks, rubber gloves & PPE coveralls believe that there is an adequate domestic production capacity and their exports should be resumed.

TCS to switch to WFH for 75% employees by 2025

TCS CEO  Rajesh Gopinathan has said that by 2025 only 25% of its employees will need to work out of its facilities at any point of time.

Oil prices dip near $32 a barrel

Amidst fresh concerns about excess supply, following a U.S. industry report which signaled that crude inventories swelled for the first time in three weeks, oil prices continued their downward trajectory to near US$ 32 a barrel.

2-4% degrowth in consumer sector this fiscal: Report

Crisil estimates that consumer sector will degrow by 2-4% this fiscal, due to the coronavirus lockdowns & the concomitant disruptions in demand and supply. It cautions that if the lockdowns continue beyond the first quarter, there could be a 30-40% degrowth in the sector. 

Banks need $20-50 bn capital over next 1-2 yrs

Experts believe that as bad loans & credit costs balloon due to the Covid-19 induced slowdown in the economy, Indian banks may need to raise US $20-50 billion capital over the next two years.

New laws on agri trade in the pipeline

According to a senior agriculture ministry official, the government is working on a new law on contract farming and agri-trade.

Govt open to FDI and technology: IT Minister

Addressing a webinar, IT Minister Shri Ravi Shankar Prasad said that though the country strives to be self-reliant, it is open to foreign direct investment and technology. He also clarified that the Prime Minister Shri Narendra Modi’s call for “atmanirbharta,” doesn't mean India will isolate itself from the world.

Lockdown hits 67% of FPO businesses: NIAM

A NIAM survey revealed that pan-Indian lockdown has hit the business operations of 67% of the 92 farmer-producer organisations (FPOs).

Indian gaming industry a hit among VC investors

Indian gaming industry has got venture capital investments worth US$ 350 million from 2014 to early 2020, as per the 'Gaming - India Story' report.

Cos may claim input tax credit for PPE

Central Board of Indirect Taxes and Customs officials have said that government may allow firms to claim input tax credit for free distribution of PPEs, masks & sanitizers.

47% dip in N-95 mask prices post NPPA advisory

While earlier the N-95 masks  sold in the market cost around ₹150 to 300 per unit, there has been a 47% dip in their prices, after the NPPA advisory.

₹9 lakh cr losses incurred by India’s retail trade

India's retail trade lost business worth about ₹9 lakh crore in the last 60 days during the lockdown period according to industry lobby, the Confederation of All India Traders (CAIT).

40% tourism cos at the brink of closure: Study

BOTT Travel Sentiment Tracker survey estimates 40% firms operating in tourism sector stare at the risk of complete closure over the next 3 to 6 months.

Sales of immunity boosting foods double

A recent Google report states that online searches for such products have gone up six-fold, with ayurvedic home remedies, giloy and vitamin C dominating the search.

India to store cheap oil in USA

Union oil minister Shri Dharmendra Pradhan stated, "We are exploring some possibility if we can store some of our investment in a different country ... we are exploring the possibility in the USA if we can store some of the low priced oil."

RBI offers relief to borrowers

RBI Governor Shaktikanta Das today cut the repo rate by 40 basis points from 4.4% to 4% and extended moratorium on all term loans until 31st August'20.

KKR to invest Rs 11,367 crore in Jio

Private equity firm KKR will invest Rs 11367 crore in Jio Platforms for a 2.32% stake. Jio will gain Rs78,562 crore from this & 4 recent similar deals.

70% dip in fruit & veggie exports during lockdown

According to sources, there has been a 70% dip in India's fruit & veggie exports since the lockdown commenced due to the high freight charges by airlines.

GST Analytics wing to study supply chain

The Central Board of Indirect Taxes has asked a GST wing to identify risky major suppliers to exporters & share it with jurisdictional field officers.

Indian oil part of project on hydrogen fuel cell vehicles

Inspired by government's recent call for self-reliance, Indian Oil, is embarking on a Rs 300-crore project for hydrogen fuel cell vehicles as its raw materials can be sourced locally.

4.5 lakh PPE suits a day manufactured by India: Govt

Union Minister Smt. Smriti Irani took to twitter to state that  now over 600 companies in the country are certified to manufacture PPEs.

B2B cos. exempted from using only electronic payments

Ministry of Finance exempted firms with a turnover of over ₹50 crore & involved in only B2B transactions from accepting payments only by electronic modes.

Only 5,000 MW solar installations likely in India in 2020

Mercom said in a report that with project timelines getting extended due to the COVID-19 pandemic, India is expected to add only 5,000 MW of solar capacity in 2020.

62% yoy dip in FDI investment in India in April’20

Due to coronavirus leading to a lockdown & halt in most business activities, India's overseas direct investment in April dipped to US$ 976.14 million.

38-50mn people may lose jobs in tourism value chain

As per the recent estimates by FAITH & CII, the entire tourism value chain may see up to 50 million jobs getting axed in the next three months.

India buys Malaysian palm oil after 4 months

Owing to a fall in domestic inventories & discounted prices, India has resumed purchases of Malaysian palm oil after a gap of four months.

Covid forced 40% startups to halt ops: NASSCOM

A Nasscom survey disclosed that due to the impact of COVID-19 pandemic, around 90% tech startups in India are facing a decline in revenues and 60% of B2C startups are facing business closure.

India Inc scouts for local labour

Since migrant workers have either returned home or are waiting to go back and are reluctant to work in industry now, industries are turning to local labour.

India backs building broadband infra in LDCs

In a virtual meeting of the WTO on COVID-19 trade-related measures, India advocated capacity building of developing and LDCs in imparting digital skills.

Indian Railways operationalises electric locomotive

The Indian Railways has kick-started its first 12,000 hp electric locomotive built by French company Alstom under the Make in India programme.

25% surge in gold prices in two months

Amidst the rising US-China trade tensions and investors becoming jittery over the economic harm caused by covid-19, gold prices in India hit a record high.

Tough recovery for world economy: study

IHS Markit predicts that world economy will shrink 5.5% this year, triple the damage it sustained in the 2008 financial crisis.

H-1Bs usher faster earnings growth for US workers: NFAP

Latest research by the National Foundation for American Policy has revealed that employing H-1B visa holders leads to higher earnings growth for US workers. 

Google to link offline retail inventory with search engine

A pilot project has been initiated by Google where offline stores can list products available with them on a real time basis in the search page itself.

Demand for tractors on an upswing

Amidst rising demand for fertilizers, high foodgrain production & a normal monsoon forecast, it is being reported that demand for tractors is increasing.

India gears up to export non-surgical masks worth $1bn

The Apparel Export Promotion Council (AEPC) is gearing up to export non-medical and non-surgical masks worth US $1 billion within the next three months.

India draws high no. of VCs: Tracxn

Venture capital data tracker Tracxn believes that investors haven’t lost their appetite for Indian startups, as funding levels have risen again.

Lockdown 4.0 announced until 31 May

On Sunday, the Ministry of Home Affairs extended the coronavirus lockdown in the country until 31 May, while offering a few liberties to states & UTs.

Last tranche of economic package announced

Last part of economic package focused on consolidation of PSUs, boosting ease of doing business, and an allocation of Rs 40,000 crore under MNREGA scheme.

Reforms in 8 sectors in 4th tranche of economic package

The 4th tranche of special package focused on coal, minerals, defence production, civil aviation, power distribution in UTs, space & atomic energy sectors.

FM announces third set of relief measures

FM Smt. Nirmala Sitharaman announced the third phase of relief measures the special economic package. These focus on the agriculture and fisheries sector.

Dabur to test if Chyawanprash can prevent covid-19

Dabur India has initiated clinical trials to assess whether its flagship product Chyawanprash can boost immunity against the covid-19.

Govt wants to give universal minimum wage to more ppl

Finance Minister Smt. Nirmala Sitharaman on Thursday said that the government wants to make minimum wage universal to all workers under a new code.

SBI expects rise in fiscal deficit in FY21

SBI expects that India's fiscal deficit to rise to 7.9% in the current financial year due to the government's Rs 20 lakh crore stimulus package.

3% dip in intl trade in Q1’20: UNCTAD

United Nations Conference on Trade & Development said that there was a 3% dip in global trade in the first quarter of 2020 due to the spread of Covid-19.

Going swadeshi is about self-confidence: CIM

Commerce and Industry Minister, Shri Piyush Goyal said during a conference that going 'swadeshi' is about self-confidence and not inward-looking.

FM announces the second tranche of spl package

The Finance Minister announced the second tranche of special economic package to benefit small farmers, street vendors and migrant workers.

India’s fintech funding in Q1’20 surpasses China

China recorded its worst performance in fintech with 29 deals totalling US$175 million; while India's fintech industry's deals amounted to $421 million.

Govt redefines MSMES, includes turnover

While announcing a plethora of measures in the first part of the special economic package, the Finance Minister revised the definition of MSMEs. 

US initiates legislation to impose sanctions on China

The 'COVID-19 Accountability Act' allows President Trump to impose sanctions on China if it doesn't provide an explanation of the outbreak of coronavirus.

IATA expects air traffic to normalize by 2023

International Air Transport Association (IATA) opines that airline passenger traffic will not return to pre-crisis levels until 2023 (at the earliest).

73% yoy dip in venture investments in April: EY

EY said in a recent report that there was a 73% year-on-year dip in venture investment activity to US$ 881 million during the month of April 2020.

FM unveils first part of Aatmanirbhar Bharat economic package

FM Smt. Nirmala Sitharaman announced measures for MSMEs, NBFCs, discoms, contractors & real estate under Part 1 of the Aatmanirbhar Bharat economic package.

Lockdown 4.0 comes with Rs 20 lakh cr package

In his address to the nation on Tuesday, PM Shri Narendra Modi announced a Rs 20-lakh-crore stimulus package to stir up economic activity in the country.

35% growth in logistics sector in 2021 likely: Study

The Welspun One Logistics Parks (WOLP) report has estimated that the warehousing and logistics asset class could be among the fastest to recover from the coronavirus crisis.

PPE shops at airports in India

Airports Authority of India has begun the process of inking contracts with private parties through tenders for dedicated outlets to sell PPEs to travellers.

Rs 300 crore investment by Philips in India on cards

Dutch company, Philips, is planning to augment its investment in India to Rs 250-300 crore to boost its manufacturing and R&D facilities in the country.

Non-paddy cultivation being promoted in Pb, Hr

Keeping in mind Centre's advice of crop diversification, paucity of labour & dipping water table, Haryana & Punjab are promoting sowing of non-paddy crops .

Govt decides against hiking lease rent in SEZs

In a bid to provide relief to the units in SEZs, the government said on Monday that the lease rent will not be increased for 2020-21.

US-China in a media imbroglio over virus origin

The blame game over the origin of Covid-19 has led to an ugly media spat between global superpowers, US & China, with both the sides blaming each other. 

Fin Min grants Rs 6,195 crore to 14 states

Following the recommendation of the 15th Finance Commission, the Finance Ministry on Monday released Rs 6,195.08 crore to 14 states. 

IT industry wants work from home regulation

India’s US$191 billion IT industry is seeking revisions in the country’s taxation and labour laws as remote working is likely to be the new normal.

Apple planning to move 20% production to India

In a bid to diversify its supply chain in the wake of coronavirus, Apple is planning to shift one-fifth of its production capacity from China to India.

Defence ministry inks pact to modernize airfields

Union Ministry of Defence on 8th May sealed a  Rs 1,200 crore deal with Tata Power SED to modernise the infrastructure af 37 airfields.

Delhi-Mumbai Expressway has opportunities: Gadkari

Union Minister Nitin Gadkari said that the Delhi-Mumbai Expressway offers opportunities to invest in townships, smart villages and wayside amenities.

Crisis to have worse impact than expected: IMF

The International Monetary Fund said in a webcast hosted by the Council on Foreign Relations that the world can expect more waves of financial turbulence.

New guidelines to be followed for restarting industries

NDMA issued guidelines for restarting industries after lockdown, in the wake of the gas leak at a factory in Visakhapatnam after it resumed operations.

E-comm orders show signs of recovery

Orders of non-essential commodities on e-commerce platforms in the first week of May in orange & green zones are gradually returning to pre-lockdown level.

India steps up game to lure US firms

India is seeking to lure U.S. businesses trying to shift out of China by offering incentives revolving around food processing units, textiles, leather, etc.

ICMR expands the list of drugs to cure Covid-19

The ICMR has approved the use of Lopinavir/ritonavir, a fixed-dose combination of drugs used for HIV/AIDS treatment, for use in Covid-19 patients.

Few domestic airlines under threat of existence: ICRA

Rating agency ICRA has said in a report that Indian carriers are expected to incur combined losses of Rs 5,100-6,100 crore in the period between March 25 and May 31.

SEZs want customs duty waiver to tap domestic mkts

The SEZ units in India want the government to allow them to sell their products in the domestic market without payment of customs duties.

Operations begin in automotive retail chain

20% of the nation's auto retail chain, or roughly 3,500 outlets, opened for business this week, with one-third staff to comply with social-distancing norms.

ICMR turns to polyester as cotton runs out

The Indian Council of Medical Research (ICMR) has been evaluating the effectiveness of polyester swabs for Covid-19 test kits amid a shortage of cotton swabs.

Govt allows 13 consortia to operate drones

Ministry of Civil Aviation has exempted 13 consortia, like SpiceJet, ShopX, Dunzo and Throttle Aerospace, to operate drones on an experimental basis.

Over 500 mn active Internet users in India: IAMAI

The Internet and Mobile Association of India's 'Digital in India' report states that the country has an active Internet user base of over 500 million.

Rs 5.50 lakh cr losses in retail sector during the lockdown: CAIT

Confederation of All India Traders said that COVID-19 has caused a huge dent in retail trade which will have a devastating effect on the whole country.

Sanitiser mkt grew more than fourfold after corona

The country's sanitiser market swelled more than fourfold after the outbreak of novel coronavirus this March, according to Nielsen India.

E-comm cos roll out non-essential deliveries

In  green & orange zones, the government has given a green chit to e-commerce firms like Amazon and Flipkart to begin the delivery of non-essential items.

Govt may launch import substitution policy: Gadkari

Union Minister for MSME and Road Transport and Highways, Shri Nitin Gadkari said the government is considering introducing a policy on import substitution.

India develops a land pool to lure investors

At a time when global investors are moving supply chain outside China, India is developing a land pool double the size of Luxembourg to lure businesses.

PM Modi calls for an egalitarian globalization

In a speech to the NAM's virtual meet on covid-19 crisis, PM Modi said the world will need a new template of globalisation based on fairness and equality.

3 mth extension on bank loan moratorium likely

The extension of the nationwide lockdown has made the Reserve Bank of India to consider the extension of the moratorium on bank loans by another 3 months.

9.7% yoy rise in India’s wheat output: Skymet

Skymet Weather Services has estimated that the country's wheat production this year would be around 113.66 MT against 103.60 MT last year.

Automobile makers set to resume production

Two-wheeler makers in the country, Hero MotoCorp & Honda Motorcycle and Scooter India, are set to roll out production, after more than a month of lockdown.

After a 23% price cut, ATF price costs 1/3rd of petrol

Owing to a slump in international oil prices, Jet fuel (ATF) prices have been slashed by a steep 23%, costing about one-third of petrol and diesel rates.

26% dip in peak power demand

The country's peak power demand - i.e. the highest energy supply during the day across the country - remained down by over 26% in May so far at 134.7 GW.

MOCI mulls ways to make India production hub

The Ministry of Commerce and Industry is brainstorming hard to identify certain key sectors that could establish India as a global manufacturing hub.

Hospitality industry feels the heat of lockdown

In the third phase of the lockdown, the country's hospitality services including hotels and restaurants remain prohibited.

MSME package in the pipeline: Gadkari

Union Minister of Road Transport & Highways, MSMEs, Shri Nitin Gadkar has suggested providing low-cost capital to MSMEs through NBFCs.

6.5% dip in core sector growth in March

India’s eight core sectors contracted by a record 6.5% in March after touching an 11-month high in February on account of coronavirus.

Govt to back MSMEs with up to 100% credit guarantees

According to sources, the government is set to guarantee loans - between 25% and 100% - given to small businesses by financial institutions.

Improvement in current doubling rate for COVID-19 cases

Health Ministry Joint Secretary said that current doubling rate for COVID-19 cases has improved to 11 days as against 3.4 days before the lockdown.

RCEP keen to have India join the trade block

The existing members of Regional Comprehensive Economic Partnership are keen to welcome India’s return to the negotiating table for entering the trade bloc.

4.5% dip in India’s IT spending amid virus: IDC

Research firm IDC reveals that India's domestic IT spending on hardware, software & services is expected to drop by 4.5% in 2020 due to coronavirus.

Bglr’s pharma firm exports Covid-19 drug

Bangalore's Strides Pharma has developed and commercialized Favipiravir Antiviral tablets, an antiviral medication that was initially developed to treat influenza in Japan.

INR 111 Lakh Cr infra investments for 2020-25 period

The task force on National Infra Pipeline (NIP) projected total infrastructure investment of Rs 111 lakh crore during 2019-20 to FY25.

Incentives to exporters should be WTO compliant: Goyal

Commerce & Industry Minister Shri Piyush Goyal said that incentives given to exporters must be justified, reasonable & compliant with global trade rules.

Govt may give 10-day notice to flights to operate

An aviation industry senior official stated that flight services, which were suspended from 25th March, could commence early June.

India goes back to to RT-PCR Covid-19 tests

The Indian Council of Medical Research (ICMR) has asked manufacturers of RT-PCR (reverse transcription polymerase chain reaction) kits to ramp up production.

Govt relaxes ‘WFH’ norms for IT, BPO firms

The government has extended relaxations of certain rules till 31 July to facilitate work from home for employees of IT & BPO firms.

27% rise in real estate investment in 2019: Study

A report by CBRE reveals that real estate recorded a 27% rise in investment in 2019 with approximate fund inflow of US$ 6 billion across all key categories.

Business productivity slips amidst the pandemic: study

While business productivity has suffered during the coronavirus crisis, individual productivity has increased, as per Deloitte India.

Plasma therapy can have threatening implications: Govt

Ministry of Health and Family Welfare has warned that plasma therapy is still experimental & can create life-threatening complications in Covid-19 patients.

Blockchain tech can tackle supply chain failures: WEF

The World Economic Forum stated on Tuesday that blockchain technology can tackle supply chain failures that have surfaced amidst the COVID-19 pandemic.

1mn+ employees to WFH post lockdown: Ex-Infosys CEO

Kris Gopalakrishnan, former President, CII, stated that over one million IT employees are expected to continue to work from home after the lockdown ends.

Reliance launches WhatsApp Order Booking Service

Reliance JioMart has introduced a new dedicated  WhatsApp Order Booking Service for customers to order more conveniently during the lockdown.

Shapoorji Pallonji arm sells solar assets to KKR

Shapoorji Pallonji Infrastructure Capital inked an agreement to sell 317 megawatts (MW) of solar assets to private equity firm KKR on Monday.

Sewa International sets up Covid-19 plasma therapy programme

US-based Sewa International, has set up a programme for COVID-19 survivors to donate their blood plasma for a therapy to save severely ill patients.

Govt may guarantee ₹3 lakh cr for small-business loans

In a bid to restart the economy, government is mulling a proposal to guarantee 3 trillion rupees (US$ 39 billion) of bank loans to small businesses.

India takes a scenario-based approach in tackling corona

While the lockdown has helped flatten the covid-19 curve and reduced the number of so-called red zones, 27 districts still account for 68% of the country’s total caseload.

IITs spearhead India’s Covid-19 battle

18 IITs who are part of 208 dedicated R&D projects under seven different categories are the front runners of India’s scientific effort to contain and eliminate the threat of the novel corona virus.

Pune’s Serum Institute to make Oxford Varsity’s COVID vaccine

Pune-based Serum Institute of India told reporters that it is all set to start manufacturing Oxford University's COVID vaccine over the next 2-3 weeks.

India-domiciled cos filed 1300+ patents in US in 2018-19

Nasscom has disclosed that over 1,300 patents were filed by India firms in the US in 2018-19 across fields like pharmaceuticals, AI and chemistry.

Bengaluru becomes the nation’s PPE production hub

Government stated that production capacity of PPE coveralls has been ramped up to more than 1 lakh a day, with nearly half the production in Bengaluru.

3 states become virus-free

In addition to Goa & Manipur, Tripura has announced that the state has become coronavirus- free after its second Covid-19 patient tested negative.

India goes big on lending activity

In a bid to inject liquidity into the economy, Indian government has redoubled efforts to push state-run banks to boost lending.

Amazon sells goods from neighborhood stores

“Local Shops on Amazon” will help customers find products from local shops, while enabling shopkeepers to service customers outside their serviceable area.

WB predicts 23% dip in remittances to India

The economic distress induced by the pandemic and shutdowns, will lead to a 20% dip in global remittances this year, according to the World Bank.

Govt suspends IBC provisions for up to 1 yr

To offer respite to corporate borrowers, government is suspending up to 1 year the law provisions that trigger insolvency proceedings against defaulters.

10-15% dip in inland logistics companies’ volume

India Ratings is estimating inland logistics companies' volume to plunge by 10-15% in the financial year 2020-21 as the consumption demand could take a longer time to revive.

Pandemic to cause famines across the globe: UN

“While dealing with a COVID-19 pandemic, we are also on the brink of a hunger pandemic,” David Beasley, Executive Director of the World Food Programme (WFP) stated.

Indian oil refineries 95% full

India’s appetite for key transportation fuels, refiners in India  have filled 95% of about 85 million barrels of fuel storage capacity.

Rupee slides to around 77 per US dollar

The  heavy selling by foreign portfolio investors in the capital market has led to the Indian Rupee plunging to a record low of 76.92 against the US dollar.

57% Indian cos expect negative biz impact: Study

57% companies in India expect moderate to large negative business impact in the next six months due to COVID-19 outbreak.

Shipping Ministry offers relaxations at ports

Ministry of Shipping has noted the disruption of logistic chains owing to COVID19 pandemic and subsequently offered some relaxations to ports.

Oxford university starts human trials for Covid-19

The UK government on Tuesday announced that the human trial of a potential COVID-19 candidate vaccine being developed by researchers at University of Oxford is set to begin from Thursday.

Govt releases new lockdown guidelines

MHA issued a fresh note to all the states regarding all the facilities which have been been exempted from lockdown measures.

Facebook to invest in Jio Platforms

According to a recent deal between the two giants, Facebook will invest ₹43,574 crore for a 9.99% stake on a fully diluted basis in Jio Platforms.

Govt funds 16 cos for Covid-19 cure R&D

In an attempt to efface Covid-19 from the country, the department of biotechnology has granted funds to 16 companies for developing drugs, vaccines and devices to fight the virus.

Air traffic could fall by 30% this fiscal

Air passenger traffic is expected to decline by around 30% in the present fiscal and air fares may also rise due to social distancing guidelines.

Tiruppur eyes US$2-bn opportunity from PPE business

Tiruppur, is doing its best to augment production as demand for personal protection equipment  has unearthed a $2-billion worth business opportunity this fiscal year.

Lockdown could wipe out over 40% of defence MSMEs

A complete revival of all MSMEs is expected to take a year and the cost of products could go up marginally when production is resumed.

Rs 4k cr more to be spent on crop insurance scheme

According to media reports, the government will have to spend Rs 4,000 crore more on the revamped crop insurance scheme after making it voluntary from the upcoming kharif season.

Oil plunges below $0 a barrel

Oil futures collapsed to below zero for first time since 1946. This reflects how oversupplied U.S. oil market has become with industrial activity ceasing.

19.5 cr households to be given food under Food Security Act

Under the National Food Security Act (NFSA), the government has started distribution of one kg of free pulses per month to every ration card holder.

‘Kisan Rath Mobile App’ launched for farmers

The Centre has launched Kisan Rath Mobile App. It will allow movement of farm produce from farm gate to mandi and from one mandi to another.

6 Indian cos attempt to make coronavirus vaccine

Pitching in the global efforts to find a quick preventive for the fatal infection spreading rapidly across the world, six companies in India are working on a vaccine for COVID-19.

MNRE coaxes states to support manufacturers

The Ministry for New and Renewable Energy (MNRE) has coaxed states to incentivize setting up designated manufacturing hubs in India.

Railways carry 1,150 tonnes of medical items

Railways has supplied 1,150 tonnes of medical items including medicines, masks, hospital items & other medical commodities across India amidst the lockdown.

Govt tweaks FDI rules to curb takeovers of Indian cos

To prevent opportunistic takeovers/acquisitions of Indian companies due to the Covid-19 pandemic, the government revised para 3.1.1 of the FDI Policy, 2017.

Rent of IT cos in software tech parks waived off for 4 mths

The government has decided to waive off for four months the rent paid by the IT & ITeS companies operating out of Software Technology Parks of India.

India’s phone exports more than doubled in FY19-20

Data released by the Ministry of Commerce & Industry on Wednesday revealed that India's phone exports more than doubled from 1.7 crore units in FY18-19 to 3.6 crore units in FY19-20. 

India could be global hub for testing kits

Kiran Mazumdar-Shaw, executive chairperson, said India has the capacity to emerge as global hub for manufacturing testing kits.

RBI slashes reverse repo rates

RBI Governor Shaktikanta Das announced a series of measures to support the financial system against the fallout of the coronavirus outbreak.

Lockdown 2.0 to have more aggressive testing

Sources from the Ministry of Health and Family Welfare have stated that Lockdown-2.0 would focus on aggressive testing starting April 20.

India exports major farm items

Union Agriculture Ministry has said that exports of major farm items such as rice, meat, dairy and processed food items have been commenced.

34.57% dip in March’s exports

Merchandise exports in March stood at US$ 21.41 billion down from US$ 32.72 billion in the same month last year.

Suraksha Stores set up by govt & FMCG giants

India’s biggest consumer goods companies have joined hands with the government to convert millions of neighbourhood kirana stores into sanitised retail outlets

Govt allows more cos to make medical oxygen

Albeit there is enough stock of medical oxygen in the country, government has simplified process of getting a licence to manufacture medical-grade oxygen

Post covid world ready to move out of China

At a time when the world is thinking of diversifying production, India wants to establish itself as an alternate manufacturing hub to China.

Drug, medical device cos operate with 50% capacity utilisation

There seems to be some breather for the country as drug and medical device manufacturing companies start to operate with 40-50% capacity utilisation.

Domestic apparel industry hit by COVID-19 crisis

Despite online retailers trying to woo buyers with lockdown sales, industry experts believe that consumers may not be keen to buy apparels anytime soon.

CBIC allows electronic docs for import clearances

Government has allowed importers and customs brokers to give electronic out of charge copies of bill of entry and eGatepass from April 15.

INR 3.15lakh cr lost in retail trade due to lockdown: CAIT

CAIT assured government that traders will continue to run the supply chain of essential goods in a "most efficient and effective" manner.

WHO identifies 6 parameters for lifting lockdown

The World Health Organization (WHO) has set out six criteria to help countries gauge when to lift lockdowns.

Dept of Agriculture launches Agri Transport Call Centre

Department of Agriculture has started an All India Agri Transport Call Centre to ensure smooth movement of perishables & agri inputs.

Lockdown extended till 3rd May

In order to flatten the curve of coronavirus in the country, Prime Minister Shri Narendra Modi today extended the nationwide lockdown till May 3.

IIT-G makes affordable antimicrobial PPE coating

IIT Guwahati has developed economical antimicrobial spray-based coating for PPE & comfortable Ear Guards for masks.

DGFT imposes curbs on palm oil imports

India on Monday added more conditions on refined palm oil imports, further to the ones imposed by the DGFT on 8th January.

Govt turns to 3 other nations for antibody test kits

Owing to a delay in supply from China over quality issues, Indian government has tuned to South Korea, Singapore and Switzerland to procure antibody rapid test kits.

Govt gives nod to packaging cos to operate

The government has given a green chit to packaging material makers to operate during the lockdown. The relaxation given to packaging industry is a blessing for food companies.

DPIIT in favour of resuming economic activity

DPIIT has urged the home ministry to allow more industries to operate with reasonable safeguards even if the pan-Indian lockdown is extended.

Convert COVID-19 into an opportunity: Gadkari

Union Minister for Road Transport, Highways and MSME, Shri Nitin Gadkari said that India needs to focus on infrastructure in wake of the COVID-19 crisis.

Ordinance to amend IBC on cards

To avoid firms from being forced into insolvency proceedings, an ordinance to amend the Insolvency and Bankruptcy Code is likely.

Tech cos build coronavirus-fighting tools

Indian cities are turning to tech giants such as Tech Mahindra, HCL Technologies & Infosys to offer solutions to tackle the spread of Covid-19.

Govt supports export industry to address corona woes

Ministry of Commerce & Industry stated that it has taken several measures to address hardships faced by exporters due to the coronavirus pandemic.

India among the leaders in Covid-19 response

India is among the top ranking countries in terms of government responses according to the "Oxford COVID-19 Government Response Tracker".

Coronavirus hangs over the future like a ‘spectre’: RBI

RBI cautioned that Coronavirus, the accompanying lockdowns and the expected contraction in global output in 2020 weigh heavily on the growth outlook.

Automakers want flexible manufacturing after the pandemic

Anticipating a volatile demand after the Covid-19 pandemic, automakers are looking to fast-track plans for agile manufacturing processes and supply chains.

15k cr package to support health infrastructure

The Covid-19 Emergency Response and Health System Preparedness Package will be disbursed to state governments and Union Territories in three phases.

Upgrade schemes to help MSMEs battle virus: Gadkari

Union Minister for MSMEs Shri Nitin Gadkari spoke about the need to widen the scope of existing schemes for MSMEs to help them fight the impact of Covid-19.

Customs duty, health cess on essential medical goods lifted

The government has decided to exempt customs duty and health cess on the import of essential medical goods like ventilators and masks.

Trump praises India after hydroxychloroquine deal

US president Donald Trump on Tuesday showered praises on India and Prime Minister Shri Narendra Modi for lifting the curbs on hydroxychloroquine exports on a case-by-case basis.

Genome sequencing started to track covid-19 spread

Scientists in the country have started genome sequencing strains of the novel coronavirus isolated from patients in different parts of the country to track its spread and look for signs of emerging mutations.

PM hints at staggered lifting of lockdown

In his interaction with political party floor leaders on coronavirus outbreak, PM Modi stated that the lockdown will not be lifted in one go on April 14.

₹18,000 cr tax refund relief to tide over the crisis

The Finance Ministry has stated on Wednesday that it will immediately release ₹18,000 crore in tax refunds to individuals and businesses to provide respite against the backdrop of the covid-19 pandemic.

Covid imposes spending curbs on ministries

The coronavirus is forcing various ministries to be thrifty as Centre has tightened expenditure for the first quarter of FY21 and prioritised frontline spending to combat the pandemic.

25 mn aviation jobs at stake

25 million jobs across the world could be at risk from the coronavirus travel downturn, if experts from global airlines are to  be believed.

Corona hurts the income of top 100 Billionaires

According to a special report by Hurun released on Monday, the Covid-19 pandemic has effaced a combined US$ 408 billion from the world’s top 100 billionaires. 

Gold prices hit record high

On Tuesday, gold prices in the country hit a new high of ₹45,724 per 10 gram in futures market, surging ₹2,000 per 10 gram.  

INR 5trn needed to boost virus-hit economy: Garg

Finance Secretary SC Garg stated that government may need to borrow at least 2% of GDP (INR 4-5 trillion) more for supporting the coronairus hit economy.

Double whammy for NBFCs amid pandemic

The disruption caused by the Covid-19 outbreak has put msall and medium-sized NBFCs at risk as they face the challenges of debt repayment & cash shortage.

23.4% rise in unemployment rate due to lockdown

Centre for Monitoring Indian Economy revealed that urban unemployment rate soared to 30.9%, while overall unemployment rose to 23.4%.

32.44% dip in India’s edible oil imports in March

Solvent Extractors Association of India, has revealed India's edible oil imports declined 32.44% to 9,41,219 tonne in March.

DGFT amends export policy for APIs

On Monday, the Directorate General of Foreign Trade removed the export restrictions on 24 active pharmaceutical ingredients & formulations.

Govt mulls post-coronavirus strategy

Prime Minister Shri Narendra Modi on Monday directed the cabinet to prepare a list of 10 major decisions and 10 priority areas to focus on once the lockdown is lifted. 

1 lakh tests per day in the pipeline: ICMR

On Monday, the Indian Council of Medical Research (ICMR) stated that it is planning to scale up testing capacity to 100,000 tests per day in coming months.

Dip in India’s income for the 1st time in 20 yrs

India's corporate and income tax collection in 2019-20 fell 8% from the previous fiscal to ₹10.27 lakh crore amid a slowdown and cut in corporate tax rates

Lockdown stalls Indian rice exports

Rice exporters from India, the world’s biggest exporter, have ceased signing fresh exports contracts amid the nationwide lockdown intended to curb the spread of coronavirus.

India steps up its strike against Covid-19

India is drawing some lessons from the mistakes of global hotspots like Italy and Iran & stepping up its strike against Covid-19.

Railways innovate a low-cost ventilator

Indian Railways has made a low-cost ventilator, Jeevan. Developed at Kapurthala Rail Coach Factory and the brainchild of Ravinder Gupta, general manager of the RCF, it awaits ICMR clearance to go into production. 

Hydroxychloroquine may be added to restricted list

Following US president Donald Trump public appeal to Prime Minister Shri Narendra Modi to allow its exports, India may consider relaxing restrictions on the export of hydroxychloroquine.

WB grants US$1 bn aid to India to battle coronavirus

The World Bank has approved US$ 1 billion emergency funding for India, largest financial assistance among 25 nations, to tackle the coronavirus pandemic. 

Exporters seek nod to restart work with 50% staff

Exporters have filed a petition amid a 21-day nationwide lockdown that they be allowed to restart operations with 50% staff.

Bione launches covid-19 home screening test kit

Priced between ₹2,000 and ₹3,000 , Bione claims the kit is easy to use and displays accurate results within minutes.

Pharma cos want permission to airlift Chinese APIs

The pharma companies in India have urged the government to airlift  key active pharmaceutical ingredients (API) required to make hydroxychloroquine from China.

Retailers at malls seek 0 rentals till May

India’s largest restaurant chains, retailers and multiplexes are invoking the force majeure clause and have sought waiver of rentals from mall owners till May.

Coronavirus is biggest crisis since WWII: UN

U.N. Secretary-General Antonio Guterres said at the launch of a report on Tuesday on the socioeconomic impacts of COVID-19, that the world faces the most challenging crisis since World War II.

RBI rolls out more relief measures to fight virus

Taking the fight against covid-19 crisis a step further, the Reserve Bank of India has rolled out more relief measures from its kitty. 

2 Indian drug makers working on anti-corona drugs

BDR Pharma & LASA Supergenerics are developing antiviral molecule Favipiravir that has aided recovery of Covid-19 patients in a trial conducted in China.

GST revenue rises in FY20 to INR 12.2 trillion

In the April-March period of FY20, GST revenue collection grew by 3.8% to INR 12.2 trillion from the year ago period.

Investments in startups dip by 36% yoy in Q1

According to data from a research service platform Venture Intelligence, the number of investments went down by 35.71% to 126 during the period from 196 last year.

Lockdown to cause US$1 bn in online retail: Study

Forrester estimates that 21-day nationwide shutdown to cease the proliferation of Coronavirus is going to hurt the e-commerce companies.

Govt to suffer heavy loss in excise duty collection

The pan-Indian three-week lock down is likely to leave a major dent on the government's revenue.

India’s fiscal deficit at 135% of the budget in Feb

The data released by the Controller General of Accounts showed that the country's fiscal deficit amounted to INR10.36 lakh crore in February.

Govt to regulate medical devices as drugs: NPPA

National Pharmaceutical Pricing Authority has notified that from April 1, 2020, all medical devices shall be regulated by the government as drugs.

Joint G20 Action Plan to battle the pandemic

Finance ministers and central bank governors of the G20 conglomeration decided to deliver a joint action plan to battle the coronavirus pandemic. 

Health ministry asks auto cos to make ventilators

Centre has instructed India's automobile manufacturers to use their facilities to manufacture ventilators to boost the country's capacity of such machines.

Corona effect: Crude prices dip to 17 yr low

US benchmark West Texas Intermediate fell 5.3% to trade at $20 a barrel, while international benchmark Brent crude was off 6.5% at $23.

Robots join the battle to defeat Coronavirus

Minimizing human contact and the threat of Coronavirus transmission, robots are being deployed in many parts of the world for jobs such as sanitizing hospitals and delivering food and medicines.

Pandemic to impact electricity demand: ICRA

Coronavirus will adversely impact electricity demand and cash flows for discoms, resulting in payment delays for power generation & transmission companies.

Labour-driven exports bear the brunt of Covid-19

India's labour-intensive export sectors are bering the brunt of the Covid-19 pandemic. Some of these sectors include leather, textiles, gems and jewellery, carpets and handicrafts.

Foreign trade policy to extend till September

Given the trade problems due to Covid-19 outbreak, the government has decided to extend the existing foreign trade policy (2015-20) till September 30, 2020.

Govt asks shipping cos to waive off detention charges

The government has directed shipping companies to refrain from collecting detention charges on EXIM cargo due to the business disruption owing to Covid-19.

MHA allows flow of all essential, non-essential goods

The Ministry of Home Affairs (MHA) on Sunday asked states to allow transportation of all goods, without distinction of essential and non-essential. 

Saudi Arabia to supply LPG: Dharmendra Pradhan

“Prince Abdulaziz assured (me) of LPG supplies in the coming days to support our domestic requirement,” the minister tweeted.

India to have fastest growth in G20 in FY’20: EIU

Albeit the Indian economy is likely to be battered by the Coronavirus pandemic this year, it is still likely to be better off than all other G20 countries.

India asks FTA partners to ease imports regulations

Government has urged the countries, with which it has free trade agreements, to allow imports of goods without certificate of origin for the time being.

Corona impact: India Inc wants a 15 mth FY

Amid the Coronavirus contagion, many companies have sought extension of current financial year till June 2020 & next one to start from July to March 2021.

Slowdown in corona spread: Health Ministry

Joint Secretary, Union Health Ministry, Lav Agarwal opined on Thursday that India is now showing a relatively slower spread of COVID-19 infection rate.

RBI cuts repo rates to 4.4%

At the time when the whole nation has been engulfed by the COVID-19 pandemic, the Reserve Bank of India (RBI) has reduced the repo rate by 75 bps to 4.4% on Friday.

Air India secures refinance loan

Air India has secured short-term funds to service Rs 700 crore worth non-convertible debentures and avoided defaulting on the debt payment.

Telcos ensure critical workers can freely travel

The Department of Telecommunications has given green chit to three private telcos to ensure hassle-free movement of critical workers amid the lockdown.

Lockdown to curb medicine asupply: Pharma lobby

All India Organisation of Chemists and Druggists (AIOCD) is concerned that the three week lockdown is likely to affect medicine supplies in India.

RoSCTL extended for export of garments

The Cabinet xtended the period for the continuation of Rebate of State and Central Taxes and Levies (RoSCTL) for export of garments and made-ups.

US$ 2 trn package to revive American economy

The Senate and White House have reached agreement to pump US$ 2 trillion into the economy as millions of Americans have been ravaged by the coronavirus crisis.

Corona to cost economy INR 40k cr daily

If the 21-day long national lockdown leads to 80% production loss, the economy will take a hit of Rs 35,000-40,000 crore on a daily basis.

Corona effect:Logistics cos suspending operations

Amidst a pan-India lockdown to contain Coronavirus, air freight operators and logistics firms are being forced to suspend operations.

India still in Corona stage 2: Govt

Despite the number of Covid-19 cases jumping to 606 on Wednesday, with 10 reported deaths, the Center has observed that there is no proof of community transmission so far in India.

FM announces relief measures amid a complete shutdown

Union Finance Minister Nirmala Sitharaman today announced various statutory and regulatory compliance relief measures.

PM Modi instructs India to lock down for 21 days

Following the PM's address to the nation, the Home Ministry on Tuesday released detailed guidelines on the measures to be taken central and state level to contain Covid-19 epidemic. 

Transport curbs may cause food prices to rise

Transport curbs and pandemic fears open up a wide chasm between the farm and the fork, causing a possible in food prices and scarcity of these commodities.

Pvt hospitals to treat Corona patients from Thu

The government has roped in private hospitals in its fight against the virus and directed them to begin admissions.

Export of hydroxychloroquine banned

Indian government has decided to ban the the export of hydroxychloroquine, a malaria drug, that has the potential to cure this deadly disease.

Govt allocates INR 48,042 cr in electronics schemes

Union Cabinet has given approval to three key schemes with a total outlay of INR. 48,042.25 crore to incentivize electronics and components manufacturing exports and production in the country.

China works 24/7 to build ventilators

Amid global death toll from coronavirus crossing 15,000 & doctors across the world seeking ventilators, China has been working hard to produce ventilators.

Covid-19’s economic impact at $1 trillion: UNCTAD

UNCTAD estimated economic impact of Covid-19 at US$1 trillion in 2020. Many countries are prioritising relief & support over fiscal discipline.

ICMR recommends hydroxychloroquine for Corona

Indian Council for Medical Research (ICMR) has endorsed hydroxy-chloroquine as a preventive medication for high-risk population.

Cos with NIV validation to produce Corona testing kits

Balram Bhargava, ICMR, said, “Now kits manufactured in India need NIV validation and then apply to Drug Controller General of India (DCGI) for manufacturing licence.”

Manufacturing halted across sectors

Key segments of Indian manufacturing have started shutting down in response to the lockdown orders issued by central and state governments.

Liquor firms seek licenses for sanitizer

Central government has urged state governments to rope in distilleries to make hand sanitizers for the shutdown period till March 31 due to the pandemic.

Defence, atomic labs to study Covid-19

The government has roped in defence and atomic research labs to accentuate the national effort to find a solution to deal with the Covid-19 virus outbreak. 

Covid-19 may facilitate work from home option

As social distancing becomes key to contain the spread of the outbreak, Covid-19 pandemic could be the tipping point for the IT sector to work from home.

75 coronavirus-hit districts locked down

Centre and state governments have decided to completely shutdown 75 districts which have reported the incidence of this disease across.

Rupee falls below 75 to US dollar

Indian Rupee fell sharply to 75.31 against the dollar at day's low, compared to its previous close of 74.24. 

INR 3000 cr fund for API units proposed

The Department of Pharmaceuticals (DoP) has proposed the creation of Rs 3,000 crore corpus for companies to establish fermentation or API units.

14% dip in investments in renewable sector

Minister of Power, New and Renewable Energy, Shri R K Singh informed the Lok Sabha that the country's renewable energy sector dropped by 14% to INR 68,550 crore in calendar year 2019.

Corona effect: RBI to inject ₹10,000 cr liquidity

To safeguard the country's financial health amid coronavirus outbreak, RBI will inject liquidity of ₹10,000 crore through open market operations on Friday.

Govt takes firms steps to prevent Coronavirus spread

Prime Minister Shri Narendra Modi has called for a people’s curfew (from 7am till 9pm)  on Sunday in a drastic step by his administration to prevent a surge in Covid-19 cases.

Self-assessment of AGR dues by telcos short of DoT figs

While the Department of Telecommunications (DoT) pegged AGR dues for 16 entities to INR 1.69 lakh crore, that calibrated by companies like Bharti Airtel, Vodafone Idea and Tata Group stood at INR 37,176 crore.

India not obliged to accept WTO’s report on export schemes: Govt

Commerce and Industry Minister Shri Piyush Goyal said that India is not obliged to implement recommendations the WTO's panel has made about its export promotion schemes.

Govt revamping foreign trade policy: Piyush Goyal

The upcoming foreign trade policy could encompass making the country self-reliant in many products and a separate chapter on e-commerce.

Corona effect: Airlines may ground jets

Following the suspension on all tourist & e-visas to India after the virus hit India, Indian carriers may need to ground as many as 150 aircraft.

Live events industry suffers losses around 3,000 crore

The ripple effects of coronavirus are being experienced by the live events industry, as many high-profile events are either cancelled or postponed.

Pan India shutdown for restaurants starting today

NRAI has recommended its 500,000-plus restaurant members to shut down dine-in operations starting Wednesday across the country till March 31.

Corona effect: S&P cuts India 2020 growth estimate

Fearing that the Asia Pacific region may tip into recession amidst the COVID-19 outbreak, Standard and Poor's (S&P) on Wednesday slashed its calendar year 2020 growth projection for India to 5.2% from 5.7%.

Govt to tighten scrutiny over etailers: FM Sitharaman

Corporate Affairs Minister Smt. Nirmala Sitharaman said in Rajya Sabha said that it has proposed amendments to the Competition law for greater regulation of e-commerce platforms.

Dip in sales force retailers to seek rental rebates

A massive hit on sales due to the novel coronavirus scare has pushed numerous leading retail chains to seek rental rebates from malls.

Govt ropes in pvt sec to cure Corona patients

The government has asked private hospitals to earmark beds and isolation rooms and has given the green signal for about 50 diagnostic laboratories.

India to supplement its oil supply

Leveraging the low prices for oil from Saudi Arabia and the United Arab Emirates, India, the world's third biggest oil importer and consumer, is planning to top up its strategic petroleum reserves (SPR).

Indian macroeconomic outlook vulnerable: Fin Min

Given the disruption of trade with China due to the coronavirus outbreak, government on Monday said India's near-term macroeconomic outlook is vulnerable.

Corona effect: Airlines cut flights, jobs

The airline industry is facing the brunt of the rapid scale at which the is grappling with Covid-19 outbreak, as airlines made unprecedented cuts to flights, costs and staffing on Monday.

Covid-19 curbs cause 30% dip in digital payments

Owing to a sharp slowdown of industries and slower discretionary spends by consumers on dining out and movies, virtual payments sector is estimated to have registered a decline of around 30% in transaction value over the past few weeks.

Exports rise for the 1st time in 7 months

For the first time in the last 7 months, India's exports rose for the first time in seven months in February growing by 2.91% to US$ 27.65 billion.

Corona effect: India to aid SAARC contain the contagion

Taking charge of the battle against Coronavirus in South Asia, Prime Minister Shri Narendra Modi on Sunday held a video conference with the leaders of SAARC member nations to exchange their views.

Coal import dips to 14% due to coronavirus

A provisional compilation by mjunction services revealed that in the wake of the coronavirus outbreak, India's coal imports registered a decline of 14.1% to 17.01 million tonnes (MT) in February.

UN honcho calls for a joint response to recession

UN secretary general Antonio Guterres counselled governments to work together to stop the coronavirus pandemic from plunging the global economy into recession.

Auto cos to move SC for registering BS-IV vehicles

Auto industry wants to seek an extension to the deadline (31st March, 2020) beyond which they cannot sell Bharat Stage-IV vehicles since India will be switching to BS-VI emission standards from April 1, 2020.

CPI falls for the first time in 7 months

As prices of vegetables rose at a slower pace, retail inflation fell for the first time in 7 months to 6.58% in February compared with 7.59% in the preceding month.

Renewable energy projects gets Rs 1.34 lakh cr investment

Renewable Energy Minister Shri  R K Singh said in a written reply to the Lok Sabha that between April 2017 and January 2020, renewable energy projects attracted investment worth INR 1.34 lakh crore.

Exporters likely to lose US$1 bn in Feb exports

Owing to the fact that countries are shutting their borders and order cancellations, exporters are bracing for at least a US$ 1 billion decline in outward shipments in February.

30% dip in handset sales anticipated in April-June

Market intelligence firm TechArc is anticipating a 25-30% dip in April-June sales as inventory replenishment will not happen at the desired rate owing to the rampant scale at which the Coronavirus is expanding.

Medical visas to be granted on case-to-case basis

Indian authorities have decided to consider requests from foreign nationals holding medical visas on a case-by-case basis.

India’s diamond exports plunge 41%

Diamond exporters are feeling the ripple effects of Coronavirus as the polished diamond export from India witnessing its steepest fall this February.

India shuts doors for outsiders until 15 April

India is under a self-imposed quarantine and has shut doors for nearly all outsiders. This comes at a time when India’s count of infected people is at 62.

National strategy for AI in the pipeline

Planning Minister Shri Rao Inderjit Singh said that government will soon finalize the mechanism to implement the national strategy for artificial intelligence.

Sanofi loses patent for insulin device

Biocon & its partner, Mylan, have won a patent case in the US District Court of New Jersey against Sanofi’s patent on the insulin Glargine device.

Exporters jittery about Corona impact

The country’s exporters are finding themselves tackling an array of challenges that have arisen in the face of the rampant outbreak of Coronavirus.

Corona might boost agri exports

Agriculture Ministry has chalked out 21 commodities in which Indian exports could benefit from trade restrictions against Chinese goods.

12.6% jump in India’s thermal imports

Government data has revealed that India's thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019.

Tata Steel Europe planning to lay off 1,250 jobs

Owing to challenging circumstances in which it finds itself & the need to boost profitability, Tata Steel Europe is planning to cut 1,250 jobs.

4 AAI-run airports have the world’s best aerodromes

Airports Council International (ACI) has ranked 4 of India’s airports run by the Airports Authority of India (AAI) as those with the world’s best aerodromes.

IMF wants substantial stimulus to tide over Corona

IMF has opined that governments across the world should deploy "substantial" stimulus and international coordination to counteract the economic impact of the spreading coronavirus epidemic.

Oil markets affected by crude war

For the first time in about 28 years, oil markets fell the most since the US war in Iraq, 1991, due to a collapse in demand due to the coronavirus.

No need to worry about the safety of deposits in banks

The country’s central bank on Sunday assured depositors that there is “no concern regarding the safety of their deposits in any bank”. “Concern has been raised in certain sections of […]

Sensex dips 2,000 points

Yesterday, the BSE Sensex was trading 2009.20 points, or 5.375 per cent, lower at 35,567.42 Nifty plunged 547 points, or 5.11 per cent, to 10,431.

Trade talks with US favour India: Piyush Goyal

Commerce and Industry Minister Shri Piyush Goyal on Saturday said that India’s trade negotiations with the US would open more opportunities for exports.

Corona takes a toll on auto cos.

India's automakers & electronic goods manufacturers have to pay high rates to fly down spares & components from China and South Korea on chartered flights.

DCGI approves world’s first drug to treat liver disease

The Drug Controller General of India (DCGI) approved Zydus Cadila’s new drug application for Saroglitazar to treat a particular condition of liver.

Ultra-wealthy Indians to double in 5 Yrs: Study

Knight Frank’s Wealth Report 2020, projects the number of ultra-high-net-worth individuals (UHNWIs) in India to grow by a whopping 73% in the next five years.

Coronavirus is the time to boost intl. supply: India inc

Industry experts are of the opinion that time is ripe for India to capitalize on the supply chain disruption in China owing to the outbreak of coronavirus and to acquire new markets for Indian manufacturing besides a lesson in risk management.

Lucknow’s Jewar airport gets international recognition

Lucknow’s Jewar airport has been recognised in the CG LA Infrastructure list of the world's 100 strategic global infrastructure projects for the year 2020.

Firms prepare to produce masks & sanitizers

Amidst the escalating instances of Coronavirus being reported in the country, firms are gearing up to meet sanitizers and masks demand.

MNCs turning away from China to India

In the wake of trade protectionist measures and rising risks because of coronavirus, a number of Multinational Companies are looking to diversify their supply chains away from China, to India.

2 IITs in top engg. Colleges list: QS World ranking

According to subject-wise QS World Ranking, Indian Institute of Technology (IIT) in Mumbai (rank 44) and Delhi (rank 47) are among the top 50 engineering colleges across the globe.

Corona to cause US$ 50 bn dip in world exports: UN

United Nations announced a likely USD 50 billion drop in the worldwide manufacturing exports in February’20 owing to the impact of the novel coronavirus (COVID-19).

SC allows trading in virtual currency

On Wednesday, the Supreme Court lifted the ban on trading in cryptocurrency imposed by the Reserve Bank of India in April’18.

OECD lowers India’s FY21 GDP growth to 5.1%

Latest OECD forecasts have dimmed, India's real GDP growth to 5.1% during the fiscal year starting 1 April, 2020 and improve to 5.6% in the following year.

Indian iron ore exports spur

On account of robust demand from China, India’s overall pellet exports were at 12.86 mt in 2019 compared with 8.42 mt in 2018.

RBI mulls rate cuts to shield the economy from Corona

Shaktikanta Das told reporters that he’s ready to act to shield the economy from the coronavirus and reiterated there’s room to cut interest rates if needed.

Bill to amend banking laws

Finance Minister Smt. Nirmala Sitharaman introduced a bill in Lok Sabha which seeks to protect the interest of small depositors by bringing cooperative banks under the RBI regulations.

Reason to cheer for auto firms: Pmt. moots GST cut

On Tuesday, after perusing Demands for Grants 2020-21 of Department of Heavy Industry (DHI), a parliamentary panel suggested lower GST rate for the automobile segment at least until it revives.

Govt lifts ban on onion exports w.e.f. 15 March

The Ministry of Commerce & Industry on Monday said that the curbs on onion exports will be lifted from 15 March.

M A Yusuff Ali: First Indian with Saudi green card

Indian retail tycoon M A Yusuff Ali, the chairman of the LuLu Group, has become the first Indian to receive Saudi Arabia's premium residency.

Business travel hit as coronavirus spreads

With the dissemination of coronavirus from China (the source of its germination) to Southeast Asia, the Far East and Europe, companies across the world are imposing restrictions on business travel by staff.

Reason to cheer for Indian IT: Healthy outlook from US banks

According to industry analysts, the fact that US banks, including Citibank, JP Morgan, Goldman Sachs, Wells Fargo and Bank of America have said they would continue to invest in technology is a reason to celebrate for the Indian IT industry.

Indian VC industry sees US$10 bn investment in 2019

Bain & Company's India Venture Capital Report 2020 revealed that Indian VC industry is riding high as it invested US $10 billion (over ₹72,000 crore) in 2019.

India bags US$40 mn defence deal with Armenia

Beating Russian and Polish firms, India has managed to bag a US$ 40 Million defence export deal owing to the reliability of the Indian system vis-à-vis its counterparts.

Jan’s bank credit growth dips to 8.5%: RBI

RBI data has recently revealed that Bank credit growth declined to 8.5% in January from 13.5% in last January.

Govt to promote MSMEs: Nitin Gadkari

Union minister Shri Nitin Gadkari on Sunday said the government will give a major boost to the micro, small and medium enterprises (MSMEs) in the country.

Countries sensitive to remove trade barriers: Jaishankar

India’s Foreign Affairs Minister S. Jaishankar said that countries urging India to be more open are themselves sensitive to remove trade barriers.

50% acceleration in Coronavirus cases in Italy

According to the authorities in Italy, the epicenter of coronavirus outbreak in Europe, on Sunday, the total number of people infected in Italy had risen to 1,694, a 50% jump from just 24 hours earlier.

NZ wants a bilateral deal if India doesn’t join RCEP

New Zealand has stated that if India does not join the China-backed mega trade deal RCEP, then New Zealand would like to seal a bilateral trade agreement with India.

Industry fears that global recession may accompany coronavirus

Countries have started stockpiling medical equipment and virus-related disruptions to international travel and supply chains have fuelled fears of recession in the United States and the Euro zone.

Indian shared economy to be US$ 2bn industry

A recent report by Maple Capital Advisors titled 'Shared Economy - India Story' stated that shared economy in India is poised to become a USD 2 billion industry by the end of the year.

India’s gas demand to rise by 66% in 5 years

Elara Securities said in a recent report that India’s gas demand is at an inflection point and expected to rise 66% from 148 million standard cubic meters per day in 2018-19 to 250 mmscmd by FY25.

Indians, the fastest growing nationality for UK student visas

The UK's Office for National Statistics (ONS) found that Indians have emerged as the fastest growing nationality for student visa applications to the United Kingdom.

India among the top 3 nations with max. billionaires: Study

The findings of the 2020 Hurun Global Rich List have announced that with 138 billionaires in total, India is home to the most numbers of billionaires after China (799) and the US (626).

7.8% rise in Business Confidence Index

The latest survey released by National Council of Applied Economic Research (NCAER) divulges that after hitting a six-year low in August-October, India’s business confidence rose by 7.8% from the preceding quarter to 111.2

Investors skeptical about 5G transition: EY study

A recent survey report by EY reveals that numerous enterprises across the globe making investments in next generation 5G technology are uncertain about the transition.

Govt lifts export ban on 8 commodities

A recent notification by the Directorate General of Foreign Trade (DGFT) has said that the government has removed eight more items, including a kind of gas mask and surgical blades, from the list of banned export items.

India wants changed method to ascertain digital tax

India is pushing for a major change at Organisation for Economic Cooperation and Development (OECD) on methodology at determining taxability in every jurisdiction.

SEA urges govt to stop issuing further licence for palmolien imports

Solvent Extractors Association of India (SEA) urged the government to stop issuing further licences for the import of palmolien in a representation to the Commerce & Industry Ministry.

Transit retail to grow to US$ 21.6 billion by 2030: Report

A recent Knight Frank India report has shown that transit retail opportunity is estimated to grow to US$ 21.6 billion by 2030, while private operators are expected to see lease rental opportunity of US$ 3.2 billion by then.

India and US seal 3 deals

On Tuesday, India and the US inked three MoUs, including one to synergize their cooperation in the energy sector.

India-US to fast track deal talks: Piyush Goyal

Commerce & Industry Minister Shri Piyush Goyal on Tuesday said India and the US will fast track talks for a larger free trade agreement (FTA) and get into its legal vetting soon.

India to import more oil & gas from USA

Taking their strategic partnership a step forward, India & US concluded a pact for the supply of US gas to India.

GAIL to invest in infra for gas-based economy

India’s largest gas utility, GAIL India Ltd has decided to invest Rs 1.05 lakh crore over the next five years to expand pipelines, lay city gas distribution network and raise petrochemical production capacity.

Rise in online payments: RBI

The Reserve Bank of India on Monday said it will strive to make digital payments a divine experience for the users.

India to block EU’s DSM request

According to official sources, India will block the European Union’s request for a dispute settlement panel at the World Trade Organization (WTO).

Airlines to lose almost US$ 30 bn due to Coronavirus

According to the forecast, in total, airlines in the Asia Pacific region are set to see a US$ 27.8 billion revenue loss in 2020, while those outside Asia are expected to lose US$ 1.5 billion in revenue.

Even limited deal unlikely during Trump’s trip: US Officials

Trump administration officials on Friday ruled out the possibility of even a limited trade deal during US President Donald Trump’s maiden trip to India.

J&K inks Over Rs 2,100 Crore MoUs during Investment Summit

Jammu & Kashmir has signed Memorandums of Understanding (MoUs) worth over INR 2,100 crore during its investment summit roadshow in Mumbai.

US: India’s new top trade partner

2018-19 data from the Commerce & Industry Ministry has revealed that surpassing China, the USA has emerged as India’s top trading partner.

Import licences for 1.1 MT of refined palmolein from Indonesia

The Directorate General of Foreign Trade (DGFT) has issued import licences for 1.1 million tonnes of refined palmolein sourced from Indonesia.

Revenue Dept issues new exchange rate notification

Exercising the powers conferred by section 14 of the Customs Act, 1962 (52of 1962), the Central Board of Indirect Taxes and Customs, Department of Revenue has issued new exchange rates.

INR 4,558 crore scheme for dairy farming

The union cabinet has approved an INR 4,558 crore scheme to promote the dairy sector. The scheme will benefit about 95 lakh farmers in about 50,000 villages.

Importers face tougher scrutiny in Finance Bill, 2020

The Finance Bill, 2020, is set to levy stricter norms to tighten scrutiny over businesses claiming customs duty relief meant for imports from India’s free trade agreement (FTA) partner countries.

India urges EU to reduce NTBs

During the EU’s trade policy review at the World Trade Organization (WTO), India opined that the non-tariff barriers such as maximum residue level (MRL) limits imposed by EU on food products are much higher than the limits set by the standard setting agencies such as CODEX, and trade restrictive.

Trump optimistic about deal with India

Ahead of his India visit, US President Donald Trump expressed optimism about striking substantial deals with India.

Unique Fragrance Director bags 1st prize for excellence in exports

TPCI’s member, Mr. Rajat Luthra, Director, Unique Fragrances bags the first prize for excellence in exports.

US$ 2.6 bn helicopter deal during Trump visit

President Trump’s maiden visit to India is likely to be a reason for celebration for American defence manufacturer Lockheed Martin Corp as the two sides are likely to ink a US$ 2.6 billion deal for New Delhi to buy 24 Seahawk helicopters.

Consumer durables growth likely in Q4’20

According to an official source, a 15% growth in consumer durables segment is expected in the last quarter taking the sector's expansion in 2019-20.

Govt mulls ways to boost domestic API production

The Drug Regulatory Authority is preparing a list of APIs for which India is very dependent on Chinese imports.

India US ink IPR Pact

The union cabinet has given its green signal to a plan to sign an initial pact on intellectual property rights with the United States.

Flexible solar projects delayed by coronavirus

If developers are able to prove that they have been impacted after coronavirus hit supplies from China, India might extend their deadlines for completing solar energy projects.

SEZ exports cross US$100 bn mark by mid-Feb ‘20

An official release said on Tuesday that exports from SEZs have crossed $100 billion mark by mid-February in the current financial year.

Dairy access issue halts India-US trade deal

After US has sought access for its dairy industry without addressing New Delhi’s concerns on the issue, the possibility of a trade deal between the two nations is bleak.

Subdued growth in Asia-Pacific in 2020

Citing the protracted impact of the Covid-19 outbreak in China, Moody’s Investor Services has lowered its growth forecast for the Asia-Pacific region to 5.2% for 2020.

Women entrepreneurs can create 170 mn jobs

A joint report titled ‘Women Entrepreneurship in India – Powering the economy with her’ by Bain & Company and Google has revealed that women in entrepreneurship can generate transformational employment in India with 150–170 million job opportunities.

Corporate sector moots ways to combat the coronavirus effect

The corporate sector suggested a few measures to the Finance Minister Smt. Nirmala Sitharaman and her team of officials in a meeting of nearly 20 sectors on Tuesday.

FSSAI to roll out hygiene ratings for meat shops

Amidst the rapidly rising threat of the spread of Coronavirus in India, the country’s food regulator – FSSAI is in the process of introducing hygiene ratings for meat shops.

Goyal tells industry to enhance export basket

Commerce and Industry Minister Shri Piyush Goyal asked the industry to look for ways to expand India’s export basket by adding more value-added products.

Lithium reserves found near Bengaluru

Reserves of lithium, a rare metal critical to build batteries for electric vehicles, have been discovered in Mandya, 100 km from Bengaluru.

India is 5th largest economy: World Population Review

US-based think tank World Population Review in its report declared India to be the fifth largest economy in the world in 2019.

India’s trade data out for Apr-Jan 2019-20

Taking merchandise and services collectively, overall trade deficit for April-January 2019-20* is estimated at US$ 64.16billion as compared to US$ 97.79billion in April-January 2018-19.

Coronavirus to hit global growth in 2020: IMF

The Managing Director of the International Monetary Fund, Kristalina Georgieva, opined that the coronavirus epidemic could damage global economic growth this year.

US to host world’s 1st yoga university outside India

The world's first yoga university outside India – Vivekananda Yoga University (VAYU) – has established its initial campus in Los Angeles, USA, with a budget of US$ 5 million.

Govt mulls export restrictions on 12 essential drugs

To ensure there is no shortage of essential drugs in India due to the lockdown in China’s Hubei’s province, the government is considering putting a stop to the exports of 12 essential drugs.

India-Russia discuss crude oil imports

The long term crude oil deal is likely to be inked during Russian President Vladimir Putin's visit in October for the annual summit talks with Prime Minister Shri Narendra Modi, which aim to enhance India’s trade with Russia from US$ 11 billion at present to US$ 30 billion by 2025.

DGFT asks EU-GSP Registered Exporters to submit fortnightly statements

They also have to respond to verification requests by European Union (EU) within prescribed time limit, failing which the Registered Exporter Number (REX) may be annulled.

Piyush Goyal looks for strategies to boost exports

He spoke about the potential of textile sector to increase exports to US$ 100 billion in the next 10 years from the current level of about US$ 37 billion.

6% yoy dip in India’s veg oil imports in Jan’20: SEA

Import of refined oil (mainly RBD palmolein) decreased from 4,06,799 tonnes during first quarter of existing oil year to 2,66,859 tonnes.

Jewellery industry seeks lower import duty on gold

On Thursday, the gems and jewellery industry approached the government with demands pertaining to more flexible taxation laws & lower import duties on gold.

Residential realty sees recovery signs

The optimistic observation is based on the sector’s performance during the October-December 2019 period. 27 out of 35 cities recorded a 5% quarter-on-quarter increase in home sales in the third quarter of FY20.

Coronavirus effect: demand for sanitizers & masks shoots

All Food and Drug License Holders Foundation (AFDLHF) reveals that the total market for masks has jumped up from about INR 200 crore annually to INR 450 crore over the last two months.

Coronavirus, a opportunity for Indian exporters: CEA

Chief Economic Advisor Krishnamurthy Subramanian said on Wednesday that the coronavirus outbreak in China provides an excellent opportunity for India to expand export.

Indian economy faces headwinds

The statistics office has lowered the FY19 GDP growth rate to 6.1% from the provisional estimate of 6.8% and has forecast 5% growth in FY20.

Dr Reddy’s acquires Wockhardt’s India formulations

What has motivated DRL to diversify its market is the fact that it has been grappling with regulatory actions by the US Food and Drug Administration (FDA).

Nasscom predicts Indian IT sector growth to be 7.7% in FY20

The latest survey, also pointed out that 57% of IT sector CEOs expect FY21 growth to be similar or better than FY20.

Coronavirus takes a toll on cell phone production

China plays an integral part in the supply chain: while battery and some camera modules are made in Vietnam, displays and connectors are majorly made in China.

From April 1, CDSCO to monitor medical devices

According to the latest notification by the Ministry of Health and Family Welfare, from 1st April’20, all medical devices, including implants and contraceptives, will be brought under the lens of the Central Drugs and Standard Control Organization (CDSCO).

FM sees signs of the economy being green shoots

Some of the green shoots identified by the minister include rising foreign direct investments (FDIs); foreign portfolio investments (FPIs); rebound in industrial activity; rising Purchasing Managers’ Index; increasing forex reserves; and robust collections of the goods and services tax and a rising Sensex.

US removes India from developing nations list

This development has also subdued the possibility of the restoration of preferential benefits under the Generalised System of Preference.

Biotech dept. to build anti-coronavirus vaccines

India has also sent its scientists to a WHO forum to help tackle the outbreak of the virus.

Coronavirus hits diamond trade

Numerous gems & jewellery houses have sought help from the Ministry of Commerce & Industry, Finance Ministry & the Reserve Bank of India.

Stalled business growth in Dubai

IHS Markit recently pointed out that since at least a decade, business growth in Dubai stalled while jobs disappeared at the fastest pace.

India gears up for chopper deal

India is set to give final approval to a US$ 2.6 billion deal for military helicopters from U.S. defence firm Lockheed Martin.

India may import malt barley from Australia

This will also give the opportunity to Australia to export its product to markets other than China. As for India, it will open doors for malt barley imports, besides Argentina & Canada.

Infosys to buy American firm to boost cloud capabilities

Infosys Ltd is planning to acquire Simplus, one of the fastest growing Salesforce platinum partners in the US and Australia for up to US$ 250 million during the fourth quarter of fiscal 2020.

Coronavirus outbreak casts shadow over 5G rollout

With little signs of respite from the Coronavirus, industry experts are anticipating a slowdown in 5G rollouts and devices ecosystem development globally.

Indian oil firms could gain from Coronavirus outbreak

Owing to the suspension of fuel contracts by China in the face of the Coronavirus outbreak, Indian firms are on a hunt for bargains on diverted cargoes of crude oil and liquefied natural gas (LNG).

Masks & gloves removed from banned export list

Exports of gloves made from nitrile rubber and masks other than two and three-ply, will nonetheless, continue to be restricted.

India 17th most vulnerable to Coronavirus

Thailand, Japan, South Korea, Hong Kong, Taiwan, USA, Vietnam, Malaysia, Singapore and Cambodia are the top 10 nations susceptible to Coronavirus.

India joins ‘Quantum Supremacy’ chase

India has joined a select few countries that chase “Quantum Supremacy” with an INR 8,000-crore national mission that will include building solutions for quantum communications, storage and encryption.

6.2% yoy dip in domestic pv sales: SIAM

According to the latest findings of the automobile industry body Society of Indian Automobile Manufacturers (SIAM), there has been a 6.2% year on year drop in the sales of domestic passenger vehicles.

India working towards a global digital tax

The country has introduced an enabling provision that will make an overseas platform that advertises, streams or sells goods to an Indian IP address taxable.

Mumbai looks for ways to revive its economy

Tax on garbage collection and additional levies on services such as issuing birth certificates are ways in which Mumbai will stimulate its economy.

GDP growth slips

Due to the low growth in manufacturing and construction, the growth of India’s gross domestic product (GDP) has declined.

Industry demands easier norms for coal blocks

Potential bidders have sought flexible norms for mining commercial coal blocks. These include suggestions such as 50% lesser payment and more lenient requirement of minimum production.

Tata Motors closes China plant due to Coronavirus

Taking into account the rapid outbreak of the Corona Virus in China, Tata Motors, one of the largest Indian employers in China, asked its 3,000 personnel recruited there to work from home.

Public cloud deployment to reach $8 bn by 2023

India’s public cloud deployments are projected to grow to become a US$ 8 billion industry in 2023, according to a combined report by Google Cloud and BCG.

Services sector growth at 7-year high

The Indian services sector showed a strong uptick in January, with rising demand fuelling the sharpest increases in new orders and output in seven years.

Gold imports drop by 48% in January

India's gold imports dipped steeply by 48% YoY in January, their lowest in 4 months due to a rally in local prices that dampened buying sentiment.

District export plan to boost exports

The Commerce Ministry has set the process rolling for preparation of a district export plan with the aim to boost India's outbound shipments.

Unemployment at 6.1% in 2017-18

India's unemployment rate stood at 6.1% in 2017-18, according to a new Periodic Labour Force Survey (PLFS) released by the Government of India.

Rs 45k crore fund for electronic manufacturing

Government is planning a Rs 45k crore fund for large electronic manufacturing firms & contract manufacturers to bring their global supply chains to India.

Manufacturing growth at 8-year high

India's manufacturing activity saw a rebound in January 2020, growing at its fastest pace in nearly eight years with a surge in new business & production.

Stricter framework for rules of origin

India is planning a major change in the domestic framework of rules of origin to help customs officers tackle large scale imports.

TCS bags largest ever retail deal

Tata Consultancy Services has won a US$ 1.5 billion deal across a ten-year period from US pharma retailer Walgreens Boots Alliance (WBA).

More Attaches to boost defence exports

India is planning to have 10 additional defence attaches in 10 countries to promote its defence exports and expand its diplomacy.

Subordinate debt provision for MSMEs

Recognising the constraints in working capital credit, the government has introduced a scheme to provide subordinate debt to MSMEs in Union Budget 2020.

Partial divestment in LIC on the anvil

Under Budget 2020, the government has announced its intention to sell partial stake in LIC through an IPO as part of its disinvestment drive.

Duties raised to boost Make in India

The government has revised basic customs duties to as much as 100% for a number of products to encourage domestic processing and manufacturing.

Alternate income tax regime for Indians

Budget 2020 has given taxpayers with an annual income of upto Rs 15 lakh an option to go for a lower tax slab in lieu of foregoing income tax exemptions.

Budget targets Rs 1 lakh cr fishery exports

Budget 2020 has placed special emphasis on the blue economy, with the government aiming to raise fish production to 200 lakh tonnes in 2022-23.

Textile park scheme to be revamped

To improve foreign investment in the textile sector, India is planning a complete overhaul of its scheme to establish integrated textile parks.

Government asks e-comm firms to push exports

The government is talking to e-commerce firms to help SMBs sell their products across the world to tackle the trade deficit.

India’s rice export prices at 4-month high

Rice export prices from India have reached a four-month peak this week backed by increased demand from African buyers & constrained supply from Thailand.

Economic Survey 2020 predicts growth at 6-6.5%

The Government of India tabled the Economic Survey 2020 in the Parliament today, which projected that GDP growth will rebound to 6-6.5% in 2020-21.

Coronavirus a global emergency

As the coronavirus epidemic spreads across China and beyond its borders, the World Health Organisation (WHO) has declared it as a global health emergency.

Indian sugar exports below expectations

India's sugar exports are not growing as expected with mills not keen on selling despite prices at 2-1/2-year highs, making global sugar buyers nervous.

NHAI to raise Rs 15-20k crore via InvIT

NHAI is planning to launch its InvIT offer in coming months, part of its plans to explore alternative sources of funding in roads & infrastructure.

India for removal of trade-distorting farm subsidies

India has called for removal of trade-distorting subsidies on agriculture and continuation of differential treatment to developing countries by WTO members.

Indo-US trade deal in February

India and US are expected to consummate a trade deal valued at around US$ 10 billion in February during a visit by USTR Robert Lighthizer to New Delhi.

Foodtech to touch $8 bn by 2022

India's foodtech industry is projected to grow at a CAGR of 25-30% to US$ 8 billion by the end of 2022, according to a report by Google and BCG.

India asks Qatar for reduced LNG rates

India has asked Qatar to lower LNG prices under its current long-term contracts, where rates are linked to crude oil prices and higher than competitors.

Export credit scheme to launch soon

Hon'ble CIM Shri Piyush Goyal has confirmed that the scheme for export credit at low interest rates announced in September 2019 would be implemented soon.

Tyre exports grow 11% in Apr-Nov

India's tyre exports grew by 11% YoY in volume terms between April-November, 2019-20, slightly lower than 12% y-o-y  volume growth in the previous year.

India critical to growth: Boeing

US aerospace company Boeing has affirmed that India is among its top markets that are critical to its international growth plans.

Zero duty for open cell TV panels could continue

The government is evaluating an extension of zero duty import of ready-to-use open cell television panels beyond September, prompted by industry inputs.

Restrictions on furniture imports

The government is expected to place restrictions on imports of furniture to promote indigenous manufacturing and cut down imports of non-essential items.

Progress on informal e-commerce talks

Trade ministers from 83 countries, that are in negotiations for framing rules on e-commerce, have agreed to develop a consolidated negotiating text by June.

Steel exports to drop in 2020-21

India is expected to witness a decline in steel exports in FY 2020-21, due to higher domestic demand from the automotive and infrastructure companies

Gold imports decline by 6.77%

India's gold imports witnessed a decline of 6.77% YoY during April-December, 2019-20 to reach US$ 23 billion, according to data from MOCI.

Govt offers 100% stake for Air India

The government has set off the process to sell off stake in Air India for the second time, offering 100% stake and a reduced debt burden to the new owner.

Brexit Bill receives royal assent

Britain's Brexit bill officially became law on Thursday, thereby removing the last obstacle to UK's exit from the European Union in just over a week.

IMF Chief expects improved momentum for India

IMF chief Kristalina Georgieva has asserted that the growth slowdown in India appears to be temporary and the momentum should improve going forward.

Fuel exports surged in December

India's refined fuel exports increased by 24.2% YoY in December to reach 6.46 million tonnes, exhibiting the fastest growth since October 2016.

Brazil asks for duty cut on chicken

Brazil has asked India to cut import taxes on chicken and chicken products so that it can capitalise on the rising demand for poultry and poultry products.

India number 1 on clean energy investment

India has been ranked number 1 in clean energy investment rankings among 104 emerging markets worldwide according to a BloombergNEF survey.

US reassessment opportunity for India

India views the Trump administration’s reassessment of America’s traditional alliances as a strategic opportunity to deepen ties with Washington.

PM proposes 3-point strategy for economy

PM Shri Narendra Modi has proposed a three-point strategy to boost country's economic diplomacy that emphasises on 3 'T's - trade, tourist and technology.

Mumbai introduces all-night shopping

In a move initiated to boost growth, Mumbai will provide residents the facility of shopping & dining out until dawn from late January.

India to import more oil from Brazil

India has expressed interest in increasing imports of crude oil from Brazil, in order to diversify its import basket beyond the volatile Middle East region.

DPIIT issues norms for steel imports

The Department of Promotion of Industry and Internal Trade has introduced quality control orders to curb imports of some substandard steel items and cables.

India-Israel collaboration will boost innovation

Incorporating best practices and policies from countries like Israel will be crucial for India to accelerate innovation, according to NASSCOM.

Indian angel investors target US startups

A number of angel investors from India are looking to invest in the US startup market, as a number of high technology ventures offer promise.

CIM asks for cooperation on Indian Ocean region

Hon'ble CIM Shri Piyush Goyal spoke for greater cooperation among nations to realise the huge growth prospects in the Indian Ocean region.

KVIC seeks international Khadi trademark

Khadi Village Industries Corporation is seeking a global trademark for ‘khadi’ to prevent any product from masquerading as ‘khadi’ nationally or globally.

FMCG set for rebound

According to research by Nielsen, India’s fast-moving consumer goods (FMCG) market is set for an expected growth rate of 9-10% in calendar year 2020.

Brazil hopes to grow trade to $25 bn

Due to India's strong economic growth of 7% in the last decade, Brazil sees huge potential for exports of food and commodities.

Chinese GDP growth at 30-year low

The Chinese economy grew at its slowest in almost three decades in 2019 at 6.1%, under the impact of the damaging trade war and weak investment scenario.

Credit cards, personal loans rise

Amidst the economic slowdown, India is witnessing a growth in demand for both credit cards and personal loans, leading to a rise in consumer credit.

Amazon commits US$ 1 bn

Amazon.com founder Jeff Bezos has committed US$ 1 billion to help bring small Indian businesses online, with an aim to reach as many as 10 million SMBs.

SEZ changes proposed

Department of Commerce has proposed changes in the eligibility criteria for SEZs to link them to investments in R&D, innovation & employment generation.

No imports without HS Codes

Hon'ble CIM Shri Piyush Goyal announced that no imports will be allowed without HSN code into India, while speaking at the 6th National Standards Conclave.

Exports dip 1.8% in December

In December 2019, India's exports stood at US$ 27.36 billion, declining by 1.8% according to latest data released by the Department of Commerce.

India-China trade drops in 2019

India-China has declined by about $3 billion in 2019, even as India’s trade deficit continues to be high at around US$ 56.77 billion.

Industry seeks cap on refined palm oil imports

The edible oil industry has asked the government to restrict imports of refined palm oil and palmolein to a maximum of 50,000 tonnes per month.

Indian immigration to US declines

Legal immigration from India to the US on green card dropped by 7.5% during 2017 and 2018 according to data from a US-based think tank.

Incentives for Apple, Samsung suppliers

India is looking to offer a series of incentives to suppliers of Samsung and Apple to encourage them to open manufacturing units in the country.

TV sales hit new low in 2019

In a possible indication of the impact of the rise of smartphones and OTT content, TV sales in India witnessed their worst ever performance in 2019.

Global debt-GDP breaks record

The world has beaten the record for the highest ever debt-GDP ratio before the close of 2019, reaching 322% & narrowly bettering the previous best in 2016.

Cut import duty on gold: Commerce Ministry

Ministry of Commerce & Industry has sought a major cut in the import duty on gold in the budget to boost exports and manufacturing of gems and jewellery.

Bulk tea companies face pressure

Bulk tea companies are expected to continue to face margin pressure in FY 2020, despite marginal improvement in financial performance in the first half.

FTAs needed for textile exports

Free trade agreements (FTAs) with key markets like Australia, Canada, the United Kingdom and the EU will help boost India’s textile exports.

Sugar prices gain on export rise

Indian sugar mills have gained due to the rise in sugar prices in the international market. This has improved the demand for sugar exports from the country. 

India & Canada to fast-track trade talks

India and Canada could fast track negotiations for a trade agreement, according to Andrew Smith, Minister (Commercial), High Commission of Canada in India.

Rice exporters worried about US-Iran tensions

Indian rice exporters have expressed concerns over tensions between US and Iran. Already, Rs 900 crore in payments are pending from Iran since May 2019.

India’s palm oil restrictions to impact Malaysia

India's restrictions on refined palm oil could push Malaysia to a price war with Indonesia in crude palm oil, where the latter has an advantage.

Foxconn backs out of $5 bn investment

Foxconn has decided not to set up its manufacturing units in Maharashtra, India, after failing to strike a deal with the state government.

Mechanism for faster SME loans

Hon'ble CIM Shri Piyush Goyal has asked SIDBI and the CGTMSE to develop a framework for faster processing of loans to SME units

77780 jobs culled in banking sector globally in ’19

Unlike in the U.S., where government programs and rising rates helped lenders rebound quickly after the financial crisis, European banks are still struggling to regain their footing.

Subdued pulses output likely

It is being said that to prevent a spike in the prices like the one of onions, government was closely watching the situation and would ensure adequate supply of protein-rich seeds.

India shines in Asia-Pacific power industry tenders

In November 2019 Asia-Pacific’s power industry saw 617 tenders being announced, marking a flat growth over the last 12-month average of 620.

EU wants investment protection pact with India

This would be exclusive of the proposed free trade agreement (FTA) where ongoing negotiations are in a state of limbo.

New tech to speed up infra work

Ministry of Statistics and Programme Implementation had recently pointed out that at least 355 projects have seen a cost overrun of Rs 3.88 lakh crore and about 552 projects have faced time escalation.

Stable NPAs in Sept: RBI

Recent data from the RBI has revealed that the health of the banking system has improved with the gross non-performing loan ratio remaining stable at 9.1% in FY19, declining from 11.2% registered last fiscal.

Low imports lead to the stability of onion prices

Owing to the fact that countries such as Turkey and Sri Lanka have curbed exports of onions to India, the prices of this vegetable are expected to remain somewhat firm till mid-February.

Tepid M&As due to debt obligations

Across the globe, too, deals were hard to materialise due to various factors including uncertainties caused by the US–China trade war, which left many investors in a wait-and-watch mode.

200+ coal blocks to be auctioned by 2024

Coal Ministry is likely to issue bidding rules for commercial coal mine auctions hold consultations with the concerned stakeholders next month.

Coal reserves need to be identified faster: Coal Secretary

The need for the introduction of 2D/3D seismic survey and other modern available technologies which for expediting coal & lignite exploration to cover more area in a shorter time were also discussed.

India facing slowdown: IMF

This has been attributed to the abrupt reduction in non-bank financial companies' (NBFC) credit expansion and the associated broad-based tightening of credit conditions.

Cashless tolling across national highways near 50%

Ministry of Road Transport and Highways directed the NHAI to equip toll lanes across national highways with electronic toll collection infrastructure.

Tesla, the decade’s best-performing auto company

After increasing 10 times since 2014, Tesla revenue will advance an additional 14 per cent in 2019, 21 per cent in 2020 and 18 per cent in 2021, according to the forecasts at Bloomberg.

377 infra projects show major cost exceeds

377 infrastructure projects, each worth Rs 150 crore or more, have been hit by cost overruns of more than Rs 3.94 lakh crore. Further, 565 projects reported time escalation.

India’s steel output falls in Nov

International steel production too registered a 1% fall at 147.791 MT in November 2019 as compared with 149.356 MT in November 2018.  

IWAI lowers cargo handling target

The Inland Waterways Authority of India (IWAI) has lowered the cargo handling target to 100 million tonne (MT) on national waterways by 2021-22.

Relief likely for cos. under IBC code

GST framework presently doesn’t allow a firm to file current tax dues if it has past dues.

Sluggish marine exports likely ahead: Report

A recent report by U.S.-based trade finance company Drip Capital pointed out that India's marine exports are expected to remain sluggish.

9% hike in real estate investments

A recent report calibrated by the global property consultant Colliers points out that there has been a 9% hike in real estate investments to INR 43,780 crore during this calendar year owing to higher inflow from foreign funds.

Govt consults textile industry

Given the challenging condition in which the country’s textile sector finds itself, the Textiles Ministry has started consultations with the industry stakeholders on the New Textiles Policy.

Tepid hiring in industry

Data from HR firm Xpheno has shown that hiring has slowed across IT, startups and multinational corporations. This scenario is likely to continue next year too.

Tech. altering logistics: Economic Survey

The government’s Economic Survey (2017-18) has revealed that technology is finally solving inefficiencies in logistics. The industry is becoming more streamlined as a significant number of firms are adopting technology-led tracking systems that make it easy to predict when a parcel is expected.

“India must lower tariffs on US products”

While India's trade minister in October said the broad outlines of a deal with US had been worked out, Navarro gave no details about where talks or any US-India trade agreement stood.

Sugar output dips 35%

India's sugar production stood at 4.58 million tonne till December 15 of the ongoing marketing year according to the estimates of industry body ISMA.

India lacks qualified designers: industry

International design experts said at the Kochi Design Week that even though India is a potentially huge design market, it has a dearth of qualified designers.

Tripura gets its very own SEZ

Situated 130 km away from Agartala, this will be a Sector Specific Economic Zone for Agro-Based Food Processing – like Rubber based industries, textile and apparel Industries, and bamboo.

Startups want clarity in tax-related issues

Startups dealing with global technology companies registered outside India assert that they pay more taxes on their revenues.

Moody’s lowers India GDP forecast for FY20

Citing feeble household consumption, global ratings agency Moody's Investors Service lowered India's gross domestic product growth projection for the fiscal year 2019-20 to 4.9% from 5.8%.

Govt cautious about FTAs

Union Minister Shri Piyush Goyal opined that the government’s decision to stay out of the RCEP was a bold one and that it was in the national interest.

India to break its own sugar export record

This has been attributed to a flurry of overseas sales in the past few months, prompted by attractive global prices.

India in the top 3 producers of scientific articles

As per the statistics compiled by the US National Science Foundation (NSF), China, US & India are the top 3 producers of scientific articles in the world.

Electronics cos want 4% sop

According to sources, demands were also made for allowing setoff through input tax credit (ITC) of the 5% GST levied on transport companies.

India’s weightage in MSCI EM index to rise

This has been attributed to the Finance Minister’s confirmation on increasing the statutory foreign portfolio investment limit in a company from 24% to sectoral foreign investment limit effective April next year.

India could be the ideal ground for investments

Tax reforms introduced by the government recently will ensure investments come back to India.

64% dip in India’s mobile phone imports in 3 years

Both the quantity and value of feature phones and smartphone imported by India in the last 3 years has declined from 758 lakh in 2016-17 to around 270 lakh units in 2018-19.

India trying to end impasse with EU over FTA

In a bid to revive FTA talks with EU, India is examining the areas where the negotiations are stuck and think of a possible way ahead.

WTO: Interim arrangement for global trade disputes

The World Trade Organization said that attempts are being made to set up a “stop-gap” arrangement to resolve global trade disputes through arbitration.

Govt scrutinizing FDI in infra in strategic areas

A comprehensive review has been undertaken by government agencies & RBI to assess the control over telecom & infrastructures at strategic locations and border areas of the country.

India’s palm oil imports dip to 17-months low

In November 2019, India’s palm oil imports stood at 671,863 tonnes; while in November 2018, the country imported 691,827 tonnes of palm oil.

New duty on imports likely

The commerce department has urged the finance ministry to impose border adjustment tax (BAT) on imported goods.

Anti-dumping duty on chemical from 5 nations

The authority is likely to probe into the alleged dumping and consequent injury to the domestic industry.

IIP contracts to 3.8% in Oct

The slide was led by a contraction in the manufacturing sector followed by construction.

India-US 2+2 dialogue on 18th Dec

The two sides will make a comprehensive review of cross-cutting foreign policy and defence and security issues in bilateral ties.

Govt to sell 100% stake in Air India: H.S. Puri

Government is going to sell its entire stake in Air India (-which as a debt burden of more than INR 50,000 crore) under the proposed disinvestment process.

DGFT scraps Chinese e-tailers’ ‘gift’ channel

The government has decided to put an end to the gift channel being used by Chinese e-commerce portals like AliExpress, Club Factory and Shein.

India asks Japan to reduce trade surplus

Bilateral trade between the two countries rose to US$ 17.63 billion in 2018/19 from US$ 10.9 billion in 2008/09, with the trade balance widening to US$ 7.9 billion in favour of Japan.

India has a skimpy share in organic trade

India had 3.40 million hectare of area under organic farming, the ninth largest in the world besides having the highest number of organic farmers.

GSP withdrawal didn’t hit Indian exports: CIM

India exported goods worth of US$ 6.3 billion (as per USTR figures) to the US under the GSP regime.

No reason to cheer for onion farmers

Some farmers also estimate that prices are unlikely to rise further, and have already started to drop due to this development.

Cut unsafe food level to less than 1%: FSSAI

Food Safety and Standards Authority (FSSAI) Chairman Pawan Kumar Aggarwal has urged the stakeholders in food & beverage industry to trim the level of 'unsafe food' to less than 1% or negligible levels within the next four years.

MAIT wants tax sops

MAIT, the apex body of electronic product makers, has asked the government to restore the 4-5% incentive under the Merchandise Exports of India Scheme (MEIS) as the curb of these benefits is likely to hit exports worth about US$ 8 billion.

WTO’s DSM to be dysfunctional

Thus, the body would no longer be in a position to consider new appeals after December 10 and will have a negative impact on WTO’s dispute settlement system and also the multilateral trading system as a whole.

WTO extends nil tax on e-transmissions

India and South Africa had argued that the ecommerce moratorium led to loss of revenue (which according to an UNCTAD study, could be as high as US$ 500 million every year for India).

Pact between US, Canada and Mexico

The new deal aims to improve enforcement of worker rights and hold down prices for biologic drugs by eliminating a patent provision.

India’s stock markets to have unicorn listings

Byju, Swiggy, Zomato, PhonePe, Myntra are some such companies that he has great hopes from.

Ocean trade sustains India’s trade growth

Data from the DHL Global Trade Barometer released by DHL, revealed that strong ocean imports and exports will sustain India’s trade growth over the three-month period ending in January 2020.

CIM wants reciprocal access for Indian cos

Foreign cos won’t be allowed in local contracts unless India Inc gets to compete in those nations.

Slowdown only cyclical: Chief Economic Advisor

Chief Economic Advisor K Subramanian said, while addressing the FICCI young leaders summit on Monday, that the country has not lost its growth potential and the economy will bounce back.

First bulk wine from India sent to UK

A joint venture between Kingsland Drinks and Indian wine producer Soul Tree has led to the first ever shipment of bulk wine from India to the UK.

US-China trade war affects Gujarat’s salt industry

The export revenue to China has subsequently reduced to between INR 100 crore and INR 150 crore since January.

India laments Appellate Body impasse

India, along with many countries, has expressed anguish over the eclipsing of the World Trade Organization’s (WTO) Appellate Body.

Netflix gung-ho on India-focused content

Video streaming company Netflix is planning to invest Rs 3,000 crore to develop and export India-focused content on its platform.

Grape industry expects record exports

The Indian table grape industry is expected to witness record exports this season, despite expectations of lower production due to climatic challenges

China ban threatens meat exports

Due to a crackdown by China on illegal meat imports India, which is one of the biggest exporters of buffalo meat, will have to look for new avenues.

DPIIT panel for VCs & startups

DPIIT has decided to set up a bimonthly and quarterly panel to address grievances of venture capitalists and startups, chaired by the CIM Shri Piyush Goyal.

OPEC impasse fuels price drop

The failure of OPEC to pin down the details of an agreement to adjust its official output target led to the sputtering in oil prices to US$ 58 a barrel.

RBI leaves key rate unchanged

RBI's MPC slashed its GDP growth estimate for 2019-20 by 110 basis points to 5% from 6.1% forecast two months earlier. But it retained repo rate at 5.15%.

Post GST regime sees rise in India’s textile exports

India's textile exports have increased 6.2% post-Goods and Services Tax (GST) as compared with corresponding period pre-GST.

3.6% growth in India’s air passenger traffic in Oct

The International Air Transport Association data has revealed that India's domestic air passenger traffic grew 3.6% in October.

Objection on services trade, workers’ movement in WTO

US, EU, Canada and Australia have created barriers through domestic regulation conditions to deny market access to short-term services providers from India.

Onion prices surge across the world

The union government has also asked states to crack down on hoarders, create a buffer stock, and distribute imported onions.

RBI bats for more payment platforms

The Reserve Bank of India (RBI) proposed the idea of a new pre-paid instrument for payments up to ₹10,000 for buying goods and services.

OECD says India needs more reforms

India is set for a modest recovery after a loss of momentum as reforms to simplify taxation lighten business regulations and upgrade infrastructure start to fructify.

RBI revises its CPI estimate

The Reserve Bank of India has modified its estimate for CPI inflation figures for the month of December 2019 upwards from the 3.5-3.7% to 4.7-5.1% range that it had predicted in the previous policy.

Commerce ministry examines import surge from Singapore

 It is being feared that Chinese goods are being diverted through Singapore due to duty concessions offered under a free-trade agreement.

US-China trade deal likely post elections in US

Trump has threatened to impose 15% levies on an additional US$ 160 billion in Chinese goods if an agreement is not reached by that date.

INR 5,151 cr: India’s organic products exports in 2018-19

The government has been practicing various schemes like Paramparagat Krishi Vikas Yojana (PKVY) and Mission Organic Value Chain Development North Eastern Region (MOVCDNER) to promote organic farming in the country.

US ban on sea shrimps

The US has decided to continue with the ban that it imposed on sea shrimps because they are caught by vessels without turtle excluder devices.

Sundar Pichai takes charge of Google

Larry Page and Sergey Brin, who founded Google more than twenty years ago, are stepping down from executive roles at Alphabet, Google's parent company.

Turkey sends 11000 tonnes onions to India

Heavy rain at the end of monsoon in chief onion-producing states had damaged the kharif season crop and led to a supply shortage this year by around 26%.

Frozen dessert manufacturers want ice-cream status

FSSAI held a meeting with experts to bring the curtains down on the prolonged cold war between icecream makers and manufacturers of frozen desserts.

12 global firms keen to move to India FM

12 global companies have demonstrated a willingness to shift their base from China to India, taking advantage of competitive tax rate of 15% announced recently.

Curbs on foreign firms in ‘strategic areas’ likely

The government is contemplating the idea of bringing under its scrutiny foreign players participating in certain ‘strategic areas’.

Improvement in factory output in Nov.

Companies indicated that workloads had been managed by existing staff, while others cited the non-replacement of retirees and non-renewal of temporary contracts.

Japan won’t sign RCEP if India doesn’t join

China has sought to expedite the finalisation of the RCEP deal as it faces slowing growth from a trade war with the U.S. The deal would also lead to better integration with Asia.

63% hike in Indian student visas

There was a remarkable 63% hike in the number of Indian students being granted visas to study at British universities over the past year by the UK government.

India reaches electricity generation capacity

The country is now in a comfortable position to meet its electric demand.

4.7% Growth in Indian economy in Sept Quarter

This is the weakest pace in more than six years of the economy’s expansion.

1,271 firms misusing export promotion scheme

Action for misuse of facilities under Export Promotion Scheme during the last three years has been taken against 1,271 companies by Directorate General of Foreign Trade.

Strategy for national use of Blockchain likely

The government is preparing a strategy for national level use of Blockchain technology to scale up and widely deploy the new age technology.

Indo-Russia talks to import coking coal

At present, India imports more than 50 MTPA coking coal. Government data revealed that shipments of coking coal from the United States and Canada rose to a sixth of all Indian imports of the fuel during the last fiscal.

Indian IT services to touch US$ 14.2 billion by 2020

Due to the shift towards modernised infrastructure and applications, the highest revenue-generating segment in the IT services market continued to be systems integration in the first half.

India still highest overseas remittance receiver: IOM

Even in 2010 and 2015, India was the top recipient of remittances. The increase in remittance between 2015 and 2018 is 14%, according to the UN body.

Services sector to aid US$ 5 trillion economy: CIM

Union minister Shri Piyush Goyal  expressed confidence in the economy stating that India's service sector can help reach the Central government’s target of USD 5 trillion GDP.

Govt restricts edible oil imports

The government is considering a proposal to restrict the import of all kinds of refined edible oils, while continuing to keep crude oils under the free category.

PM Modi explores lucrative ways to attract investors

According to some insiders familiar with this development, the government has pumped in INR 56,000 crore in the past decade in a bid to keep the carrier afloat.

India-Chile double taxation avoidance treaty approved

The Union Cabinet on Wednesday gave a green signal to the Double Taxation Avoidance Agreement (DTAA) between India and Chile.

Real-time power market to go on floor from 1st April

This will enable the consumers including discoms or captive to buy power at exchanges just one hour before delivery.

Easier rules for medical device makers

To promote the domestic pharmaceutical industry, it is recommended that there should be a preference for Make in India products during public procurement.

Subdued investments in FY20: Ashu Suyash, Crisil

In her interaction with media she cited slowing global growth, falling trade intensity and uncertainties stemming from trade conflict as the reasons for India’s slowdown.

Negotiation on dairy out of India-US trade talks

Almost 40 products including pistachios, walnuts and apples have been identified by India & US for duty concessions.

Firms await export duty clarity

New Delhi is in a fix after the recent WTO ruling which required India to roll back its export sops under the MEIS scheme.

India-Indonesia explore biz potential

India and Indonesia are trying to reach their target of US$ 50 billion trade by 2025 by eyeing new areas of investments during the “India Indonesia Investment & Business Forum”.

Drop in pepper production likely

India’s pepper output is projected to see a sharp fall of 30% due to erratic climatic conditions in south India and rising imports from Sri Lanka.

Govt has simplified patents regime: CIM

Commerce & Industry Minister, Shri Piyush Goyal said that the government has simplified patents regime to boost innovation among India’s MSMEs and startups.

China’s coal demand to remain subdued

Rising output could create pressure on China’s thermal coal prices. China has decided to scrap its coal-electricity price linkage mechanism from 2020.

Logistics firms affected by slowdown

Slowdown has propelled some of the major logistics players to defer planned expansions, and setting relatively modest revenue targets

Govt plans to ban e-comm ‘gifts’

To prevent misuse by Chinese e-commerce firms, CBITC could remove the provision where citizens can get duty-free gifts/samples’ under Rs 5k from overseas.

Rice prices hit the lowest point due to supply surge

Prices of Indian rice export fell to their lowest in nearly 3 years as fresh supplies from the summer-sown crop loom large amid subdued global demand.

MEA discussions with US on talent

External Affairs Minister S Jaishankar informed the Rajya Sabha that it is trying to convince US that tapping into Indian talent benefits both countries.

US-China trade deal unlikely this year

Experts feel that a US-China trade deal might not materialise until 2020. Currently, Beijing is demanding that Washington roll back tariffs imposed on it.

45% slip in India Inc’s M&A deal value

Recent findings of Grant Thornton's latest M&A Dealtracker revealed that there were 28 M&A deals worth US$ 1.5 billion in October this year

CIM advocates export promotion council for furniture

The Commerce Ministry has asked DGFT to identify the export promotion council that will work to promote furniture exports from India.

India plans incentives for 324 firms

In order to capitalize on the US-China trade war, India is planning to offer 324 companies various incentives for investment in factories.

Cabinet nod for importing onions

Finance Minister Smt Nirmala Sitharaman has announced the Cabinet’s approval to import 1.2 lakh tonnes of onions to enhance supply and check prices..

Growth in bank credit

The recent RBI data revealed that bank's credit grew by 8.07 per cent to Rs 98.47 lakh crore in the fortnight ended November 6.

RIL becomes 6th largest energy company

Reliance Industries surpassed BP Plc to become the world’s sixth-largest energy company in terms of market capitalisation.

Cheaper forex loans for exporters

The government is considering forex loans at cheaper rates to exporters and higher insurance coverage to banks on their export-credit-disbursement.

Clients delay big deals in IT Sector

Prevalent global economic uncertainty due to factors like delayed Brexit & US-China trade war, is compelling IT clients to delay deals.

India appeals against WTO panel ruling

According to the norms of the multilateral trade body, when a decision is challenged by an appeal by the member-country concerned, it cannot come into effect.

No deal with China will increase tariffs: Trump

US President Donald Trump warned in an address to the media that the failure to get a trade deal with China will prompt US to impose more tariffs.

Govt supporting auto sector: Javadekar

Minister of Heavy Industries and Public Enterprises Shri Prakash Javadekar said the slowdown in automobile sector is cyclical.

India to have below 5% GDP growth

Economists from various agencies have lowered their growth forecasts for India for the quarter ended September to between 4.2% and 4.7%..

India’s OPEC imports touched lowest since ‘11

Around 3.43 million barrels per day was sourced from OPEC, which (until now) accounted for about 80% of India’s oil needs.

India 2nd highest in foreign students to US

It also stipulated that international students contributed US$ 44.7 billion to the economy in 2018, an increase of 5.5% from the previous year.

Peak per capita consumption of stainless steel

the country’s per capita consumption of stainless steel touched a new peak. Against 1.2 kg per capita in 2010, the consumption registered a 100% growth and touched a new peak of 2.5 kg in 2019.

Despite cuts by RBI, lending rates increase

The country’s central bank has been blaming banks for the slower transmission of its policy cuts into their lending rates and continuously prodding them to cut more.

Rise in domestic air passenger traffic

The data issued by the Directorate General of Civil Aviation (DGCA) showed that domestic scheduled carriers carried 12.3 million passengers last month

Jeera export hit by denial of tax sops

The All India Spices Exporters Forum has made several appeals to the Centre on MEIS and it reckons that exporters will lose heavily if the benefits are not allowed in full from August.

Illegal Bangladeshi cancer drugs flood Indian markets

Alarmingly, these drugs have not undergone clinical trials, and do not have the drug controller’s approvals.

India has one of the highest no. of intl. schools

A study by ISC Research shows that after China, India has the maximum no. of international schools in the world. This is an improvement of two ranks since 2012.

Privatise discoms: N Chandrasekaran

N Chandrasekaran, Chairman, Tata Sons, supported the privatisation of power distribution companies, and also ensuring that every generation plant is operational to help the power sector.

Cost overruns: A major concern in India

The multilateral organisation has US$ 3 billion exposure to India, which will continue to be the largest borrower in the near future.

US-China trade tension could last 20 years: Jack Ma

 The trade dispute between the two superpowers has already ensnared more than 70% of bilateral trade in goods ever since it commenced about 2 years ago.

Drop in India Inc’s revenues in Sept quarter

Recent media reports suggest that India Inc’s revenue dropped marginally in the September quarter, the first decline in nine quarters.

India resumes palm oil purchases from Malaysia

After a gap of nearly a month, Indian refiners have resumed buying Malaysian palm oil.

Oct’s wholesale inflation hits 3 year low

Data released by the Commerce and Industry Ministry on Thursday showed that India’s wholesale inflation eased to 0.16% in October, its lowest in more than three years.

British firms eager to invest in India

56% of those firms that were surveyed said that it is getting easier to do business in India. Their perception about corruption being a barrier to operating in India saw a sharp drop.

India, China meet at BRICS

India’s Prime Minister Shri Narendra Modi met China’s President Xi Jinping on the sidelines of the 11th Brazil-Russia-India-China-South Africa, or BRICS, summit.

India’s engineering exports dip for the 4th time in a row

With September shipments conceding fourth straight monthly decline and fifth in fiscal 2019-20 to 6.11%, it is quite evident that a global slowdown has taken a toll on Indian engineering exports.

US lobby opposes India’s data localisation bid

Information Technology Industry (ITI) Council, held that India’s mandate on data localization could prove detrimental to tech companies.

Rupee dips vs dollar

The rupee plunged to INR 72.08 against a dollar yesterday, down 62 paise or 0.87%. 

Chinese investments in Indian auto sector

The auto industry is expecting investment over the next 3-5 years from at least half-a-dozen Chinese vehicle makers along with their vendor-partners.

Some e-retailers indulged in predatory pricing: CIM

Shri Piyush Goyal, said at the BRICS trade ministers meeting in Brasilia that some e-commerce companies are indulging in predatory pricing, which has detrimental effects on millions of small retailers.

5% growth in India’s GDP likely this fiscal

A report from the Economic Research Department of State Bank of India (SBI), which was launched yesterday trimmed the country’s GDP growth forecast.

India may import pulses

Owing to unprecedented rainfall in the major growing regions (including Madhya Pradesh) during October and November, as much as 50% of the urad pulse crop was damaged.

Oct’s retail inflation may breach RBI target

A Bloomberg survey of 33 economists anticipated retail inflation to be 4.35% in October, the highest since June last year.

Govt. to form producer groups for farmers

Finance Minister Nirmala Sitharaman has said that in order to ensure that farmers get the correct price for their produce, the government will form 10,000 farmer producer organizations.

Dip in India’s plastic exports

India’s plastic exports for September 2019 declined by 16.8% to US$ 649 million from US$ 780 million in September 2018.

Drop in soyabean exports likely: SOPA

Soybean Processors Association of India is of the opinion that India’s soyameal exports for the oil year 2019-20, starting October, may see a sharp decline.

India’s anti-cancer kit hailed by USFDA

A medical invention (called Cytotron) by Bengaluru-based scientist, Rajah Vijay Kumar, has been labelled as a “breakthrough device” by US FDA

India eyes Japanese medical device firms

To shirk the country’s dependence on US manufacturers, Indian government is trying to woo Japanese investment in India’s medical devices sector.

IT spending in India to grow 6.6% in 2020

IT research firm, Gartner, on Monday said that the overall IT spending in India would grow 6.6% to reach US$ 94 billion in 2020, from US$ 88.5 billion in 2019.

Business optimism drops yet again

The Dun & Bradstreet Composite Business Optimism Index is arrived at on the basis of a quarterly survey of business expectations.

CIM to discuss bilateral issues with USTR

India has also been seeking increased market access for certain agricultural goods including fruits and vegetables. The meeting comes ahead of the minister’s participation in BRICS meet. 

Widen export incentive scheme’s scope: SEPC

According to the country’s existing foreign trade policy, tax incentives under Service Exports from India Scheme (SEIS) to several services sector are provided.

Agriculture sector will be big in India

Kiran Mazumdar-Shaw, CMD, Biocon, has asserted that she is quite interested in the business opportunities in the agriculture and digital healthcare sectors.

Govt gives green chit for 4 medical device parks

India is predominantly an importer of medical devices, with the domestic industry accounting for about 2% of the global industry

India US trade deal likely before 2020

Manoj Kumar Mohapatra, Consul (Commerce) in the Embassy of India in Washington, sounded optimistic about the US-India trade deal by the end of 2019.

China, US may roll back tariffs

China & US are willing to roll back the tariffs that they imposed on each other’s goods, provided that phase one trade deal is completed.

NPOP plans to extend organic certificate

Government plans to extend its existing NPOP certification to textiles, cosmetics and AYUSH products to raise their credibility in international markets.

Easier clearance rules for pvt coal players likely

The government is planning to introduce an online application form and single-window clearance for coal mining lease, land acquisition and other approvals.

Modi-Xi Brasilia meet could have RCEP talks

The upcoming meeting of India’s PM, Shri Narendra Modi with China’s President, Xi Jinping on the sidelines of BRICS Summit could include discussions on RCEP

Agri Ministry to make ‘zero edible oil import’ plan

The aim is to help farmers and local industry, apart from reducing the current account deficit.

Millennials prefer gems over gold & diamond

Many young and rich Indians, are choosing gems like rubies, sapphires, emeralds and aquamarines over gold or diamond.

US$100 bn energy investment in India by ’24

Petroleum Minister, Shri Dharmendra Pradhan, opined "India will see an investment of USD 100 billion by 2024 in oil refining, pipelines, city gas distribution networks, and LNG terminals."

Increase in India’s import dependence

Owing to factors like a fall in the domestic production of crude oil and natural gas by 6% and 1.5%, respectively, in the first half of the current fiscal year, India’s imports have risen of late.

Govt wants kiranas to be part of ecomm

This follows the recent inquiry by the DPIIT has to ecommerce firms about how they can work with small retailers to boost such neighbourhood stores.

Massive H-1B denial rates for Indian IT firms in US

National Foundation for American Policy reports that denial rates for H-1B petitions have increased from 6% in 2015 to 24% in the third quarter of the current fiscal.

India still open to RCEP membership: CIM

India is still open to joining Regional Comprehensive Economic Partnership (RCEP) deal; provided all its concerns are met.

India seeks amendments to OECD proposition

The Indian government has sought a more balanced principle for the taxation of companies like Google, Facebook & Uber based on place of revenue generation.

CPA to cause compliance burden for e-commerce cos

The new Consumer Protection Act (CPA) has been open to public domain for feedback from until October 31. 

China wants US to drop tariffs on US$ 360 bn of imports

These tariffs were imposed by US on about US$ 110 billion in goods in September, and about US$ 250 billion that last year.

33% dip in India’s gold imports

Surging prices continued to weigh on consumer demand during the festival season, bringing down India’s gold imports in the month of October by 33%.

Flex to invest US$ 500 mn in India

The decision comes at a time when China & US are embroiled in a trade war that is affecting US-based companies in China, and vice versa.

India still has a year to decide on RCEP

In the given circumstances, not joining the agreement reflects both our assessment of current global situation and of the fairness and balance of the agreement.

India Inc’s salary rise max in Asia Pacific

The leading global advisory also stated that though salary increases in India are stabilising at around the 10% mark, they remain the highest in the Asia Pacific region.

9 Hour working day in draft labour code

“The single value of the national minimum wage for India should be set at Rs 375 per day as of July 2018”, recommended an internal panel of the labour ministry.

Mega parks near ports likely to be set up

The government is considering the option of setting up ten integrated mega parks with state-of-the-art infrastructure near ports to attract FDIs.

RCEP Deal to be delayed to 2020

A recently released draft statement by Southeast Asian leaders stated that the signing of the world’s largest trade pact will likely be kicked back to 2020. Objections by India have […]

PM Modi optimistic about US$ 5 trillion economy vision

Prime Minister Shri Narendra Modi expressed confidence that India will be able to convert the US$ 5 trillion economy vision into reality soon.

First container cargo to Assam via Indo-Bangla route

The first ever containerised cargo movement via Indo-Bangladesh protocol route and Brahmaputra river started from West Bengal's Haldia on Monday.

Owing to India, South Asia becomes the pivot of growth

IMF has indicated that led by India, South Asia has the potential to contribute about one-third of the world's growth by 2040.

Inability to resolve issues looms over RCEP deal

With India on Thursday saying that there were still some critical issues pending resolution, its membership of the Regional Comprehensive Economic Partnership (RCEP) could go down to the wire.

US wins WTO case against India

The squabble between US & India over the latter’s export promotion subsidies has been won by the US.

Core sector performance hits 14-year low

Economy may have slumped further in the second quarter of the current financial year and a recovery may take time.

20% yoy likely dip in Coal India’s October production

Rating agency ICRA had also predicted that Coal India's output target will be missed by about 55-75 MT.

US$ 12.7 billion pvt equity investments in India in 2019

Data from Refinitiv reveals that private equity investment in India for the first nine months of the year stood at US$ 12.8 billion.

Govt panel favours RCEP membership

The group, which was formed last September, is of the opinion that exclusion from the pact will keep India out from a large regional market.

Marine goods worth US$ 800 mn exported to China

India is the second largest aquaculture producer, 3rd largest fish producer in the world with exports of marine products worth USD 7 billion and the 4th largest exporter of seafood in the world.

Steep dip in labour productivity in 8 yrs

There has been a sharp drop in the average of India’s labour productivity from 7.4% between 2010-11 and 2014-15 to a low of average 3.7% during fiscal year 2015-16 to 2017-18.

Brighter growth prospects for India & China in Q4

In the third quarter, India's real GDP growth is estimated to be 1% on a quarter-on-quarter basis and is projected to rise to 2.20% in the fourth quarter, according to the report.

Startups will never be harassed: CIM

Some time back, startups made representations to the government about receiving notices from the Income Tax Department, making it difficult for them to operate.

Global banks turn towards regional trade

With the ongoing tussle between the US and China redefining global headwinds, Prime Minister Shri Narendra Modi’s ‘Act East’ policy is paving the way for banks and financial institutions to find new means to engage with countries in the East.

India invites Saudi investment in energy infra

Prime Minister Shri Narendra Modi on Tuesday, while addressing the Future Investment Initiative 2019 in Riyadh, extended an invitation to Saudi companies to invest in India's energy space.

1/4th new H-1B visa requests rejected

The denial rates for H-1B petitions have increased because USCIS has changed the standards for approval without new regulations or Congress passing a new law.

A high level panel shares ways to bolster trade

A high-level advisory group (HLAG) on trade and policy led by Surjit Bhalla, a former member of the Prime Minister's Economic Advisory Council was formed last year in September.

Income tax rate cuts unlikely

Given the lack of fiscal space to reduce income tax and the prevailing higher levies in several countries such as China, the US and the UK.

India-US to give new lease of life to their defence pact

Industry has also recommended setting up a Defence Industry Advisory Committee (DIAC) under the pact to enhance government’s efforts to promote technology sharing.

Cabinet opens doors for companies in fuel retail businesses

The government has given the green chit in fuel retailing for petrol, diesel, LNG and CNG.

Indian IT sector to benefit from hard Brexit

The difficulty of Brexit could work in the favour of India’s IT sector, according to an industry insider.

India secures 63rd rank in the Ease of Doing Business Report

From 77th position last year, India climbed the ladder by moving up 14 places to 63rd rank.

Apprentice hiring to pick up pace

64% of companies are not hiring apprentices due to slowdown. The research entailed a survey of 500 employers across 12 sectors.

Oct 31 Brexit is dubitable

Lawmakers voted by 322 to 308 against the so-called programme motion citing the reason that they did not have ample time to scrutinize such an important bill.

1% growth in international air travel in H1

The period between April-June saw 1% decline in international air travel following the collapse of Jet Airways.

India got max power industry tenders in Asia-Pacific in Sept’19

As far as the average for the last 12 months goes, India held the top spot with 321 tenders, followed by Bangladesh with 101 and the Philippines with 83 tenders.

Industry alarmed about cyber threats

Only 19% of Indian organisations regularly make significant amendments to their cyber security approach, and 38% intend to make changes to their security approach in the next 6-24 months.

Up to 74% FDI in defence through automatic route

Department for Promotion of Industry and Internal Trade (DPIIT) plans to hike vestment (FDI) in defence in the automatic route from 49% to 74%. 

SEA Advisory to ban Malaysian palm oil imports

Solvent Extractors' Association (SEA), the industry body for Indian edible oil has issued an advisory to its members to refrain from importing palm oil from Malaysia.

Simpler export promotion schemes envisaged in new FTP

The revamped policy is likely to have changes in incentives given to goods as the current export promotion schemes are challenged by the US in the dispute resolution mechanism of the World Trade Organisation (WTO).

Piyush Goyal optimistic about India-US trade ties

India is looking to the US for technology, innovation, skills and quality education.

For the first time in 18yrs, India is a net copper importer

This has been attributed to the closure of Vedanta’s copper smelter in Tuticorin, which led to the erosion of more than 46% of the country’s production of the base metal. 

China has more unicorn startups than US

China and the USA dominate with over 80 percent of the world's known unicorns, despite representing only half of the world's GDP and a quarter of the world's population.

IPR website for Startups launched by Govt

The platform has been to provide assistance to Startups and SME’s and help them in understanding Intellectual Property Rights.

4% rise in 2 wheeler exports in Q2

Latest data by industry body Society of Indian Automobile Manufacturers (SIAM) suggests that two-wheeler exports rose by over 4% in the April-September period of the current fiscal.

US$ 1.4 trillion infra spending in the next 5 years

As we envisage becoming a five trillion-dollar economy by 2024-25, our focus on creating world-class infrastructure has become even more resolute.

IMF advocates loosening up of trade barriers

Monetary policy cannot be the only game in town. It should be coupled with fiscal support where fiscal space is available.

Special scheme for producing components

M-SIPS (2012-18) offered multiple incentives for 10 years, including a capital subsidy of 20% in special economic zones (SEZs) and 25% in non-SEZs, and reimbursements of countervailing duty.

India advocates rejection of US memo on special treatment

S&DT offers several flexibilities for developing countries, such as longer time periods for implementing agreements and commitments, lower levels of commitment and measures to increase trading opportunities.

Dip in palm oil purchase from Malaysia

It’s the first time ever that India has used its heft as a trade partner to express unhappiness about a political statement.

Indian rice prices touch 4 month low

India’s rice exports in August fell 29% year-on-year to 644,249 tonnes due to weak demand from African countries for non-basmati rice, among other factors.

Unilever’s quarterly sales growth slows in India, China

The developments are worrying for the company as emerging markets contribute 60% to the company's overall sales.

7% growth in H2: NITI Aayog

We have to make even more efforts at facilitating and promoting private investment in the country.

Mobile giants shifting to India

5G will only constitute 7% of India's installed base of over 1.3 billion connected devices in 2025.

Shopping spree trimmed to 1 week before Diwali

Brick-and-mortar retailers and companies have stated that the weeks of the shopping spree ahead of the festival season has been trimmed down to one weekend.

Civil society quizzes govt on RCEP benefits

“Acceding to RCEP at this juncture will accentuate the uncertainties and could result in loss of jobs and incomes which the country can ill afford” stated the Forum For Trade Justice.

Nearly half of global patent filings from China: UN

With a record 1.54 million applications (led by telecoms and computer technology), China accounted for nearly half of global patent filings last year.

IMF roots for coordinated policy action

International Monetary Fund called for a coordinated policy action, especially from some of the world’s largest economies, including India.

Malaysia to increase imports from India

Malaysia plans to boost raw sugar & buffalo meat imports from India. Relations soured recently due to Malaysia’s criticism of India's actions in Kashmir.

Clarity on single-use plastic ban sought

The Centre directed states to take action on October 2. However, different policies across states are fragmenting the Indian market, according to Rambhia. 

Donald Trump urged to ease H-1B curbs

The reason cited for this is that the country does not have the high-skill talent it needs and the drop in student admissions over the past three years is acting as a deterrent to get qualified immigrants into the US.

Dip in exports & imports for Sept.

India’s exports contracted by 6.57% in September’19 to US$ 26.03 billion. India’s imports on the other hand declined 13.85% to a three-year low of US$ 36.89 billion, signaling weak domestic demand on account of a slowing economy.

DOT considering reform package

What we have received from Trai is pricing, there are other parameters which we have to examine, ultimately it has to go for government approval,” Anshu Prakash, telecom secretary said.

Tepid Indian apparel exports: CMAI

An update by the Clothing Manufacturers Association of India (CMAI), revealed that India exported US$ 1.36 bn worth of apparel in July, which was 7% more than July 2018 and 11% more than June 2019.

Sept WPI eases to 0.33%

The findings also suggested that the overall food inflation was 7.47% in September from 7.67% in August as inflation rate for fruit dropped sharply to 6.67%.

Digital technologies to create US$ 1 trillion economy by 2025

The estimate also suggests that the technology will contribute 20% to the country’s in nominal GDP, sustaining 60-65 million jobs by 2025.  

Over 40% yoy hike in India’s groundnut production

The price of groundnut is likely to remain range bound due to bumper production this year. The export of groundnut oil is likely to be more due to better availability.

World Bank trims India’s growth forecast

Against the earlier growth forecast of 7.5% in April, the World Bank has trimmed India’s growth forecast to 6% for current fiscal in its latest edition of South Asia Economic Focus.

China to establish panel to cut trade deficit with India

Bilateral trade between the two countries reached US$ 95.54 billion in 2018, with the trade deficit at US$ 53 billion in China's favour, the biggest deficit that India has with any country. 

4% rise in passenger vehicle exports in Q2

Hyundai Motor India led these exports. Ford India Pvt. Ltd and Maruti Suzuki India Ltd were the other top performers.

Minimal qualification criteria for coal mining auction

The government has identified 15 large coal blocks for the pilot round of commercial bidding in December. These blocks will have a capacity to produce 4 million tonnes per annum.

Chinese banks eye deal in Indian startups

They are primarily eyeing early-stage ventures - not more than three years into their lifecycle for investment.

Studded jewellery trending among millennials

About 20% of the ornaments sales by volume now consist of diamond-studded jewellery.

120 MoUs signed to boost exports to China

China is working to bring down its trade surplus with India. In the first eight months of this year, India’s trade deficit went down by 1.6% to US$ 37.9 billion.

CIM feels that exclusion from RCEP will isolate India

India has already proposed to put in place an auto-trigger mechanism to prevent the dumping of goods by other countries of RCEP. 

Only 3.7% hike in Aug domestic air passenger traffic

The other top 3 countries which outperformed India in August’19 were China at 10.1%, Russian Federation at 6% and the US at 3.9%.

Rs 6,000 crore fund for farmer bodies

The agriculture ministry will fund, handhold, train, ensure easy credit availability and provide other support to these FPOs (having a minimum of 500 member-farmers on board) to make them viable.

Indian tea export remains stagnant from Jan’19-Aug’19

Tea Board has reported that tea exports from India remained virtually stagnant in the first eight months of 2019 in volume terms.

100 cr scheme for cooperatives in the pipeline

The scheme hopes to further the government's goal of doubling farmers’ income by promoting cooperative-to-cooperative trade within India & abroad and promoting exports of key agriculture commodities and products.

Governments to get more room to tax MNCs

This is a shot in the arm for India, which has proposed its own regulations on taxation of digital companies.

India slips to 68th position in World Economic Forum

WEF observed that India's rank is high in terms of macroeconomic stability and market size but added that the banking system has been affected by a high delinquency rate.

British PM optimistic about Brexit deal

British Prime Minister Boris Johnson said on Wednesday that "We've been also negotiating with our friends and partners in the EU about Brexit and you know I'm still cautiously, cautiously optimistic." 

US cautions India against cheap Chinese solar imports

Indian solar developers should consider quality, service standards, overall costs and geopolitical implications before opting for cheap Chinese imports.

28 Chinese entities restricted by US

The Bureau of Industry and Security, US Department of Commerce, has decided to add 28 Chinese governmental and commercial entities to the Entity List for engaging in or enabling activities contrary to the foreign policy interests of the United States.

Technology upgrade a must for plastics exporters

It also stated that India’s plastics exports had risen at a CAGR of 11-12% in the last three years and are estimated to reach US$ 25 billion in trade by 2025. The country’s plastic exports in FY19 were US$ 8 billion, as per the study.

India to be hit hard by slowdown: IMF

Economic activity is softening in advanced economies, such as the US, Japan and, especially, the Eurozone, while in other emerging markets such as India and Brazil, the slowdown is even more pronounced this year. 

Protect farmers’ interests in RCEP pact: Agriculture Minister

Various stakeholders from the country’s dairy industry and farming community have expressed fears that this would severely hurt Indian farmers and small businesses due to stiff competition from New Zealand & China.

India to probe chemical imports from S Korea

The government has decided to probe increase in imports of phthalic anhydride from South Korea, after allegations of serious injury by domestic industry.

Another bad quarter for auto firms

Auto companies continued to struggle with low demand, inventory correction and cuts in production across segments in the quarter ending September 2019.

PM chairs meet to decide on RCEP

Top ministers of the Modi government held a meeting chaired by PM Narendra Modi on Monday to decide on whether India should go ahead with the RCEP deal.

Indo-US trade opportunities historic: Arkansas governor

Indo-US trade opportunities are “historic”as per Arkansas governor Asa Hutchinson, one of five governors scheduled to visit India in the coming months

Logistics index for key export sectors

India is developing an index to assess the costs of logistics in its top nine export sectors, including agriculture, leather, apparel and gems & jewellery.

Easier defence deals up to INR 150 cr for startups

The defence ministry has stipulated thatstartups can now bid for contracts valued less than INR 150 crore without the burden of providing financial credentials.

Asia suffers due to onion ban from India

After India, the world's biggest seller of onions, banned exports following delayed harvests caused by extended monsoon downpours, buyers across the region are bewildered.

India could be one of the largest EV markets: Report

The findings of a report by the World Economic Forum and Ola Mobility Institute suggest that India has the potential to become one of the largest electric vehicles (EVs) markets in the world.

Govt. scrutinizing online sales

Department for Promotion of Industry and Internal Trade has decided to keep a strict eye on festive sales by e-commerce companies.

India blocks US request for settlement panel

India had blocked a US request to set up a panel to settle its disagreement over retaliatory tariffs on 28 American products.

Govt plans to sell PSUs

The disinvestment plan includes Bharat Petroleum Corp. Ltd, BEML, Container Corporation of India and Shipping Corporation of India.

Ban on onion exports

Amidst the souring prices of Indian onions due to a seasonal shortage which has been worsened by flooding in several states, the government has decided to ban exports of onions.

Auto outlook stable-to-negative in H2 FY20

India Ratings and Research, has revised its outlook on the auto sector to stable-to-negative from stable for the remaining half of the current fiscal.

Govt set to borrow INR 2.68 lakh cr in H2

Keeping the fiscal deficit at glide path at 3.3% of the GDP in the current fiscal, the government’s borrowings will be within the budgeted Rs 7.1 lakh crore.

India’s Ease of Doing Business Rank Improves

The World Bank has recently released a list of the 20 economies that have improved the most in three or more of the ten regulatory areas considered for their ease of doing business score.

Oil prices sour

Oil prices rose, easing concerns about demand at the world's largest crude importer amid an ongoing trade war with the United States.

HRD Ministry directs IITs to improve intl rank

Ensuing the concern of Union HRD Minister Ramesh Pokhriyal 'Nishank' about the issue of rankings of the prestigious Indian Institutes of Technology (IITs).

Working group on proposed new industrial policy

The policy is aimed at promoting emerging sectors, reducing regulatory hurdles and making India a manufacturing hub and will replace the earlier one which was drafted in 1991 in the backdrop of the balance of payment crisis.

Drop in agriculture’s contribution to GDP

MoSPI suggests that there has been a drop in the share of agriculture, forestry and fishing in India’s gross value added (GVA) from 18.6% in 2013-14 to 17.9% in 2016-17.

India’s FY20 soymeal exports likely to drop

India's FY20 soymeal exports are likely to drop (28.6%) to 1.5 million tonnes in the new marketing year from 2.1 million tonnes in 2018-19.

FM Sitharaman ropes in private lenders to boost growth

Finance Minister Smt. Nirmala Sitharaman sought the help of private banks and non-bank lenders to boost credit disbursal so as to stir up consumer demand.

Only 10 jobs created for every 100 jobs ended by AI

10 new AI-based jobs are being created for every 100 positions made redundant in traditional technology according to some experts.

Electronics manufacturing industry needs more sops

A government official stated that India’s electronics industry needs additional sops such as cheap credit and incentives for export along with infrastructure support in order to flourish and compete with China, Vietnam and Thailand.

India is world’s 2nd fastest growing economy

Trade and Development Report 2019 projected India's growth rate for the current year to slowdown at 6% from last year's 7.4%.

Sansui makes India its hub after corp tax cut

Sansui, which has joined hands with Jaina Group, is gearing up to enter the Indian market and make it one of its global production hubs.

Drop in India’s textile exports

Other leading nations in the garment industry such as Bangladesh and Vietnam are being given preferred access in India’s biggest textile market — the European Union.

Over 8-fold growth in India’s mobile exports in 2018-19

India’s mobile exports in 2018-19 grew over eight-fold to INR 11,200 crore, thereby exceeding imports (amounting to Rs 10,000 crore) for the first time.

Drop in bank loans for the 2nd time in 3 years

This has been attributed to tepid credit demand and prudence by banks after bankruptcy laws came into play to resolve bad loans.

PM Modi seeks global investment for India

The government has taken a string of measures to facilitate greater ease of doing business including reducing corporate tax and abrogating 50 laws to improve business sentiment. 

ADB cuts India’s growth forecast for FY’20

India’s growth forecast has been sharply cut by the Asian Development Bank to 6.5% for the ongoing fiscal year.

Below 20% dip in India’s rice exports to Saudi Arabia

The Saudi Food & Drug Authority (SFDA) has from September 1 made it mandatory for each rice consignment to be accompanied by a Certificate of Conformity (COC) according to the latest norms.

Private trains on key routes

The Indian Railways is exploring the possibility of handing over operations of more trains to private players offering improved services and amenities for passengers in the near future on several important routes.

India, U.S. trade deal collapses

While US president Donald Trump and Prime Minister Narendra Modi’s bilateral meeting was expected to come as a breather amidst the spiraling tensions of the two countries, little has been achieved in terms of advancing their trade relations.

SEZ sunset clause may be extended

Commerce and revenue departments have initiated discussions to extend the sunset clause for the scheme that ends March 31, 2020.

India to be net steel exporter: Dharmendra Pradhan

Addressing the first Chintan Shivir, Minister for Petroleum and Natural Gas, and Steel, Shri Dharmendra Pradhan, stated that India is going to be a net exporter of steel in the coming years. 

India’s container trade growth slumps to 1%

Maersk suggest that India's container trade growth slowed to 1% due to growing trade tensions, rural distress and slump in manufacturing sector. 

Corporate tax revision to benefit auto industry

Rating agency ICRA is of the opinion that India’s automotive industry is likely to be one of the key beneficiaries of corporate tax revision.

Sugar to be exported to China & Iran

Indian sugar producers are all set to commence exports to China, East Africa, Bangladesh, Sri Lanka and Iran.

Govt to amend rules of trade remedies

To protect the interests of domestic industry in case of dumping of goods, significant jump in imports or subsidized imports, government will make changes in the rules of trade remedies.

Indian IT firms better paymasters than those in US

India-based and India-centric IT firms paid US$ 96,300 on an average in 2017 for local as well as H-1B visa-holders software programmers.

CIM to discuss trade issues during US visit

Shri Piyush Goyal, whose visit to US is coinciding with that of Prime Minister Shri Narendra Modi, will work with US officials on resolving bilateral trade issues.

Rs 40,000 crore GST shortfall likely

The Union Government has estimated a collection of Rs 1 lakh crore cess on sin and luxury goods in 2019-20.

India meets criteria for GSP: Foreign Secretary

Foreign Secretary Mr Vijay Gokhale asserted that India meets the criteria for trade concessions under the US' Generalised System of Preferences (GSP).

Govt cuts effective tax rate to 25.17%

The Government of India announced a cut in effective corporate tax inclusive of cess to 25.17% for domestic companies, effective from April 1, 2019

Govt to invest Rs 25,000 crore in fisheries sector

The government aims to increase India's exports of fish and fishery products by over 50% to Rs 1 lakh crore every year in the next five years. 

Slowdown dents tourism & hospitality sector

The general slowdown in the economy, along with the ongoing monsoon, will negatively impact occupancy levels in hotels in the medium term.

Revised social security code on cards

Labour ministry has come up with a revised social security code with the intention of simplifying and rationalizing the germane provisions of the existing 8 central labour laws by establishing a social security board in the country.

Lawmakers in US want restoration of GSP for India

The US terminated incentives to US$ 6.3 billion of Indian exports under the GSP programme from June 5 this year.

DPIIT notifies FDI relaxation norms

Department for Promotion of Industry and Internal Trade notified the recent decisions pertaining to the relaxation of foreign direct investment (FDI) norms.

Steel industry worried about inclusion in RCEP

This will harm the local steel industry by opening floodgates to cheaper Chinese imports.

Dairy import talks opposed by the industry

The industry is apprehensive that import of cheaper milk powder will be detrimental for the livelihood of India’s dairy farming community, which is already in a macabre state.

US and India on the brink of a major deal

This is not going to remove all of the trade frictions between India and the U.S. — those are substantial— but it is a step in the right direction.

India Inc uncomfortable with plastics ban

The ban has ramifications for all sectors like food processing, dairy, garments, toys," stated Jayesh Rambhia, All India Plastic Manufacturers Association.

CCI monitors discounts given by ecomms

By offering deep discounts ranging from 10-80% on their ecommerce portals, these companies are clearly influencing the prices and creating an uneven playing field.

Import duty on open cell LED TV panel scrapped

The 5% import duty on open cell LED TV panel has been obliterated by the Ministry of Finance yesterday and is likely to reduce television prices.

Steel Import Monitoring System launched

The system will provide advanced information about steel import to government and other stakeholders, including producers and consumers, to have effective policy interventions.

Cheaper insurance premium for small exporters

Commerce ministry will soon approach the government to trim down insurance premium rates from 0.7% currently to 0.6% for small exporters.

European luxury goods on Trump’s radar

These duties are explicitly authorized by the WTO and are likely to drive up the cost of products for the American customers.

Debt-ridden STC, PEC to shut shop

Commerce Ministry will initiate the process of winding up debt-ridden State Trading Corporation (STC), and Project and Equipment Corporation of India (PEC).

New policy to make India an electronics export hub

An inter-ministerial panel has already been set up by the Prime Minister’s Office (PMO) to examine the ways in which handset manufacturing can be boosted within one month in India. 

6% yoy drop in Indian exports in August

India’s exports for the month of August dropped to US$ 26.13 billion. Consequently, overall exports are down by 9% to US$ 15.33 billion in the first five months of this fiscal.

Made in India’s PMP under scanner

The scheme was overall a partial success: the levies helped create a local ecosystem for batteries, chargers and printed circuit board assembly, while duties on components did not have the same effect.

Firms want careful drafting of non-personal data norms

Setting up of this committee headed by Infosys cofounder S Gopalakrishnan brings some national-level cohesive thinking around the issue of non-personal data.

Spurt in investments in deep technology startups

According to Tracxn, a startup data tracking platform, investments worth US$ 697 million, spread across 115 rounds, have been made in deep tech startups so far this year.

Attack on Saudi Arabian oil facility pushes prices

A strike by 10 unmanned aerial vehicles on Saudi Aramco (which is regarded as the world’s biggest crude-processing facility in Abqaiq) removed about 5% of global oil supplies. 

CIM asks India to shed fear of free trade agreements

Commerce and industry minister Piyush Goyalsaid the country is ready to take bold decisions to enhance its presence in international trade.

India’s performance improves on World Tourism Index

Spain, France, Germany, Japan, US, UK, Australia, Italy, Canada & Switzerland emerged as the top 10 global tourist destinations. The report evaluated 140 countries.

Thailand takes the lead in wooing firms amidst trade war

Companies are turning to Thailand & Vietnam over India as a chosen destination to escape from the harsh dynamics of the ongoing US-China trade war.

AI, analytics most sought after tech skills: Infosys

The findings of a new research titled "Infosys Talent Radar 2019"conducted by Infosys revealed that analytics, user experience, automation, IT architecture and Artificial Intelligence are among the most sought after tech skills.

New norms for offering forex credit to exporters

The government will soon come out with guidelines on extending foreign exchange credit to exporters at nominal rate of sub 4%.

India to protect national interest in RCEP: CIM

Commerce and industry minister Piyush Goyal on Wednesday said that India will look out for its national interest in the proposed Regional Comprehensive Economic Partnership (RCEP) trade agreement.

US to delay tariff hike on Chinese goods

The two economies imposed fresh tariffs on each other on Sept. 3, leading to a tit-for-tat tariff war that has unsettled financial markets and raised the specter of a global recession.

Basmati paddy prices to remain steady

Inspite of headwinds in global trade, Basmati paddy prices are expected to remain steady owing to better quality of the crop and the expectation that the export will pickup in later part of current financial year.

US$ 21 billion investment by Indian high tech

According to the US-India Strategic and Partnership Forum (USISPF), Indian high tech has the potential to attract an investment of a whopping US$ 21 billion and generate millions of jobs

US$ 1-billion of jewellery export potential to US

Leveraging the tussle between the US & China, India’s gems and jewellery sector hopes to tap a US$ 1-billion export opportunity to US.

India-China dents pan-Asian deal

Trade ministers from 16 Asia-Pacific countries (which together account for about a third of all global trade), have vouched to wrap up RCEP.

India ASEAN to review FTA

India & ASEAN have agreed to constitute a joint committee to review their free trade agreement, signed in 2009.

GSP restoration by US may be on cards

US & India have initiated discussions on a string of thorny issues which had fanned tensions between them like restoration of Generalised System of Preferences (GSP).

Centre to boost infra spending

Finance Minister Smt. Nirmala Sitharaman said that the government will expedite infrastructure spending to bolster consumption.

2-year extension of UK work visas for intl. graduates

The British government has decided to offer from next year a two-year work visa to foreign students graduating from a British university.

Startups accelerate hiring in slowing economy

With the influx of fresh funds, hiring in tech startups may not be immediately affected due to the current economic slowdown in India.

India flags concern over rising trade deficit with China

The deficit has already ballooned to over US$ 57 billion in 2018.

Taipei appeals WTO for dispute consultations with India

The discussions focus on duties (ranging from 7.5% to 20%) imposed by New Delhi on the imports of certain information and communications technology (ICT) goods.

Bharat Craft, an Alibaba-like MSME portal

The government is working on Bharat Craft, an Alibaba-like e-marketplace for micro, small and medium enterprises (MSMEs).

Chinese firms should make India an export hub

India and China have agreed to identify non-tariff areas to make it easier for the Indian businesses to make inroads into China.

Drop in China’s exports due to trade war

There has been a 16% yoy dip in China’s exports to US to US$ 44.4 billion, due to punitive tariffs imposed by the latter.

ICT services to outgrow exports

UNCTAD predicts that domestic market for computer services in India is forecast to grow faster than exports.

Compulsory registration for imported iron, steel

This import-export data will help make the system transparent and reduce the issue of over-invoicing and under-invoicing.

Govt. planning to revamp the DoC

Government is contemplating the idea of bringing Rebate of State and Central Taxes and Levies (RoSCTL) and Advance Authorisation Scheme, within the ambit of the drawback committee under the revenue department.

RCEP members ask India to take a decision

Members of the Regional Comprehensive Economic Partnership (RCEP) have asked India to make up its mind on its membership of the trade group.

Drop in world food prices in Aug for the 3rd straight month: FAO

The FAO food price index averaged 169.8 points in August from an upwardly revised 171.7 points in July.

A million people may lose jobs in auto sector

Society of Indian Automobile Manufacturers’ President Rajan Wadhera believes that a million contractual manufacturing jobs are at stake due to the slowdown in consumption.

India’s value-added shrimp exports rise amidst US-China trade war

Due to the ensuing US-China trade war, US has started importing value-added shrimps like breaded shrimps from India.

India needs to diversify markets for rice exports

A market update by Cogoport, an online logistics marketplace states that India should explore Egypt, China, Mexico & Malaysia for its rice exports.

India lists items for sops before RCEP meet

Ahead of the upcoming Regional Comprehensive Economic Partnership meet in Bangkok on September 7-8, India is drawing up a list of products on which it can offer duty concessions.

CIM to meet exporters on September 11

The government recognises the fact that a good performance in exports is important for the GDP to show robust growth.

28% yoy rise in FDI in Q1 to US$ 16.3 bn

FDI equity inflows into India rose 28% from US$ 12.7 billion in the first quarter of the previous financial year to US$ 16.3 billion in the first quarter of 2019-20, with Singapore (US$ 5.3 billion) & Mauritius (US$ 4.6 billion) being the top contributors.

UPI transactions crossed the 900 million mark in August

As many as 918 million transactions worth Rs 1.54 lakh crore were processed on the interoperable digital payments channel.

Loan sanctions plunge 28% in June quarter

Credit disbursals by non-banking finance companies slid by 28% to Rs 1.79 lakh crore at the end of June versus Rs 2.49 lakh crore at the end of March. 

Consumers drive growth amidst trade-war

The mounting pressure on the growth of economies around the world due to the repercussions of proposed Brexit and trade war between US & China has put the onus of driving growth on shoppers around the world.

Cotton textile exports drop

Exports to major markets like China have declined by 50 per cent and Bangladesh by 38 per cent and Korea by 45 per cent.

Pakistan to import life saving drugs from India

This move comes a month after Pakistan had decided to suspend bilateral trade with India after India revoked Article 370 (which gave special status to Jammu and Kashmir) of its Constitution.

Export schemes for music industry

A recent Deloitte-IMI report has suggested measures like eradication of piracy and strict enforcement of laws against copyright infringements, music centric grants, and export schemes to promote the Indian music industry.

Surge in gold & silver prices

The depreciation of rupee coupled with expectations of deeper rate cuts from US Federal Reserve has set the prices of gold & silver in India souring.

NPAs to dip to Rs 9.1 lakh cr by FY20

A joint study titled 'Bolstering ARCs' by Assocham-Crisil, has predicted that gross bad loans of the country’s banks are expected to come down marginally to Rs 9.1 lakh crore by the end of the current financial year.

Modi, Putin to sign 25 pacts at India-Russia summit

Prime Minister Narendra Modi is all set to attend the 5th Eastern Economic Forum in Vladivostoc, Russia, as the chief guest between September 4 & September 6.

Chile keen to expand trade ties with India

Chile wants to explore avenues to increase knowledge sharing with India w.r.t. each other’s production structures, & to identify value chains.

India’s growth recovery to prolong: UBS

The UBS India Financial Conditions Index points out that the country’s growth may have reached a trough in the June 2019 quarter.

Duty-free replenishment for jewellery exporters

The government has again permitted gold and silver jewellery exporters to replenish the precious metal duty free after selling it at global exhibitions.

Tough road ahead for Indian sugar exports

Rating agency ICRA is of the opinion that given the subdued global sugar prices, achieving the target of 6 million tonnes of sugar exports this year will be a challenge.

Asian factories see slowing demand in August

The broader picture for Asian exports remains very weak because of the impact of the U.S.-China trade war, which is continuing to escalate.

Lowest growth in India manufacturing in last 15 months

Nikkei Manufacturing Purchasing Managers' Index (compiled by IHS Markit) touched 51.4 in August from July's 52.5, the weakest since May 2018.

Relief from Saudi norms for rice exporters

Indian rice exporters have a reason to cheer as they have got a breather till December 31 from stricter rules on shipments of basmati rice to Saudi Arabia.

India should benefit from global economic situation: USIBC

President of US-India Business Council opined that India should present its growth vision to lure businesses to invest in the country at a time when the global economy is beset with challenges.

Singapore calls for India’s inclusion in RCEP

Singapore’s minister for law and home affairs, K. Shanmugam, has called India’s membership in this trading block a stabilizing factor.

CIM asks bankers to ease export credit

The recent findings of the Reserve Bank of India suggest that the export credit by banks dropped 36.1% year-on-year as of June 21, even on a low base (it had contracted 42.7% a year earlier).

Ray of hope in US-China trade war?

A statement of Gao Feng from China’s commerce ministry to the effect that China may not instantaneously respond to the latest tariffs imposed on them, led to a boost in US stock futures and European stocks.

Slowdown takes a toll on the economy: RBI

The 2018-19 annual report of Reserve Bank of India has stated that Indian economy (both rural and urban areas) has been marred by a cyclical slowdown.

India capitalising on US-China trade trade war

Making the most of the fiery trade battle between US & China, India is trying to pitch itself as an attractive destination for prominent foreign firms like Apple, Pegatron Corp

Marginal hike in horticulture production

Overall increase is recorded in production of fruits, vegetables, spices, flowers and honey whereas downslide is observed in plantation, aromatics and medicinal crops as compared to last year.

Indian Rupee losing year-to-date gains

In the face of economic slowdown, low foreign investments, the effects of currency devaluation by China and the impact of US-China trade war, the rupee is losing its year-to-date gains in the space of just one month.

India & Iran to explore new trade vistas

India & Iran are expected to conclude a preferential trade agreement, in spite of the sanctions imposed on the Islamic Republic after the US walked out of the 2015 Iran nuclear deal.

India adds other sugar subsidies

Despite India attracting litigation from WTO members for its sugar subsidies, the cabinet has approved the decision to provide incentives of Rs 62.68 billion to export 6 million tonnes of sugar in 2019/20.

Govt pushing for big-ticket FDI reforms

 “The changes in FDI policy will result in making India a more attractive destination, leading to benefits of increased investments, employment and growth," the Cabinet stated.

New sops to tackle falling yarn exports

According to reports, exports of cotton yarn and fabrics dropped by 9.98% and 10.54%, respectively in July.

India is not immune to global risk

For every percentage point increase in global exports, India's exports tend to rise by half a percentage point and vice versa.

Govt mulling to grant funds to gas grid

Taking forward 'Hydrocarbon Vision 2030 for Northeast', the government is mulling the prospect of shelling out about ₹5,400 crore in viability gap funding for a proposed 1,656-km long Northeast gas grid.

India demands harmonization of GAP standards in SAARC

With the intention to boost regional trade, India has called for having a uniform standard for Good Agriculture Practices (GAP) among SAARC nations. “GAP is a crucial tool for India […]

Need more than rate cuts to push housing sector

Property market experts are of the opinion that there is little that can be done to rekindle the sagging housing market activity, according to a recent Reuters poll.

India-Mauritius FTA discussions by Cabinet soon

Comprehensive Economic Cooperation and Partnership Agreement, has been under negotiation since 2005 and is aimed at liberalising norms to boost two-way commerce and investments.

RBI to transfer funds to GOI

The amount comprises of RS.123,414 cr as dividends and Rs. 52,637 Cr as excess provision. Earlier, RBI was expected to transfer only RS. 66,000 cr to the Centre.

Chemicals just 9% of FDI inflows

Government has asked the industry to introspect on the factors behind it and suggest the policy initiatives needed to boost the inflows.

India has weakest quarter of growth in 5 years

In the April-June quarter, India’s growth figures dropped to 5.7%, registering the slowest pace in more than five years.

India-US to reduce trade differences

In his interaction with US President Donald Trump along the sidelines of G7 meeting in France, Prime Minister Narendra Modi stated that India plans to further increase imports, including oil, from the US.

EU wants Brexit divorce bill

European Union Council President Donald Tusk asked Britain to pay its Brexit divorce bill, even if it walks out of the bloc devoid of any deal.

Over 100 consultations on RCEP in last 6 years: MOCI

The Regional Comprehensive Economic Partnership (RCEP) is a proposed free trade agreement being negotiated by 10 ASEAN members & their 6 trade partnersincluding India, China, Australia, New Zealand, South Korea and Japan.

Government announces reforms to propel growth

In order to trigger the country’s economic growth amidst an environment of weak consumer spending, pessimism regarding jobs & slowdown, Finance Minister Smt. Nirmala Sitharaman announced a number of measures on Friday.

Customs to monitor clothing imported via B’desh

It has been reported that garments manufactured in other nations are being shipped to India via Bangladesh in order to take advantage of duty concessions offered under the South Asian Free Trade Agreement.

Bharatcraft to generate Rs 10 lakh crore revenues

Union Minister for MSMEs Shri Nitin Gadkari said that the government's planned e-commerce portal Bharatcraft can achieve revenues of Rs 10 lakh crore in 2-3 years.

Rupee falls to eight-month low

The Indian rupee fell to an  eight-month low of 71.81 against the US dollar, as falling equities and outflows of foreign funds impacted sentiment.

Australian coal exporters look for succour in India

Facing downfall in China, the Australian government is looking to leverage the growth in India's electricity market through exports of thermal coal.

India challenges WTO solar verdict

India has challenged the ruling by WTO dispute settlement panel on the solar case against the US, on certain issues of law and legal interpretation.

CIM warns of global recession risk

Commerce & Industry Minister Shri Piyush Goyal cautioned that if protectionism and unilateral measures continue, we are looking at a serious world recession

Smartphones defy economic slowdown

Shipments for smartphones in India grew by around 10% during April-June, 2019 and are expected to improve even further in the September quarter.

India developing index to measure restrictiveness

India is in the process of preparing an index to rank eight trading partners on restrictiveness with respect to cross-border movement of professionals.

Textile industry faces huge job losses

NITMA an association of textile mills in Northern India, states that the textiles industry is facing the worst financial crisis and slowdown in 10 years.

India must liberalise e-commerce: Amazon

Amazon India Head Amit Agarwal has opined that India must reduce its e-commerce restrictions to revive the economy and red tape is impacting the sector.

CEA urges India Inc to stop ‘socialising losses’

CEA Mr K Subramanian has urged India's private sector to change mindsets and refrain from the tendency to grab profit and socialise losses

Diamond industry sees 15% job losses

India's diamond and polishing hub in Gujarat has witnessed job losses of around 15% due to a slowdown in demand from China and West Asia.

Govt plans to make GeM a B2C platform

Commerce Ministry has proposed that the Government e-Marketplace (GeM) platform be remodelled to also offer B2C retailing.

Finance Ministry commences review of FTAs

The Ministry of Finance has begun a comprehensive review of India's past FTAs to ascertain the impact of these agreements on the overall economy.

India’s shrimp exports to US rise by 14% in H1, 2019

India's shrimp exports to the US have increased by 14% YoY during January-June 2019 to reach 115,694 tonnes, even as US imports recorded a small drop.

India ranks 17th on mobile phone exports

India's mobile phone exports have risen at a CAGR of 17% annually over the past five years, and become the 23rd largest exported product for the country.

Raghuram Rajan calls for new set of reforms

Former RBI Governor and noted economist Prof Raghuram Rajan has called the recent slowdown in India's economy “very worrisome”, and urged the government needed to introduce a new set of reforms to revitalise ailing sectors.

Passenger vehicle sales fall by 11% in July

Passenger vehicle sales in India fell by 11% YoY in July 2019 to reach 243,183 units according to the automobile dealers body FADA (Federation of Automobile Dealers Associations).

ISRO puts Chandrayaan-2 into moon’s orbit

ISRO has successfully inserted Chandrayaan 2 into the lunar orbit today after completing a critical orbit maneuver at 9:02 am.

Four new products get GI status

The Government of India has awarded geographical indication (GI) tag to four new products from the states of Tamil Nadu, Kerala and Mizoram.

Government mulling policy options for stressed sectors

The government is currently in discussions over a sectoral package for stressed sectors, but this is not expected to have revenue implications.

Recession risk highest in eight years

One out of every three fund (34%) managers surveyed by Bank of America-Merrill Lynch (BofAML) feels that a recession is possible in the coming 12 months.

IPA asks for funds to boost innovation

The Indian Pharmaceutical Alliance has urged Niti Aayog and the Department of Pharmaceuticals to establish a large fund to further technological innovation in pharma and healthcare startups.

Adjudicatory panel set up at WTO over India’s sugar subsidies

After failing to reach a mutually agreeable position in its discussions with Australia, Brazil and Guatemala at WTO, it has been decided to set up dispute settlement panels to look into India’s sugar subsidies.

Drop in WTO’s quarterly trade growth indicator

WTO’s quarterly outlook indicator recorded a lower reading of 95.7, showed that growth in global goods trade is likely to weaken in the coming months.

RBI’s dollar purchases hit 4-month low

RBI's June dollar purchases hit a 4-month low touching US$ 4.4 billion as the dollar inflows that started amid uncertainties in the global markets.

2.25% Surge in India’s exports in July

Owing to the higher shipments of organic goods, drugs and pharmaceuticals, there has been a 2.25% rise to US$ 26.3 billion in India’s exports in July’19 from US$ 25.75 billion in June’18.

US$ 248-mn to Indian agri-tech start-ups in 2019

According to the data put together by IT industry body, Nasscom, the country’s agri-tech segment has received more than US$ 248 million funding between Jan’19 to June’19, recording 300% growth as compared to the previous year.

India, Russia to attain US$ 30 bn trade by 2025

It was decided to diversify and deepen cooperation in priority sectors to meet the bilateral trade target of US$ 30 billion by 2025. 

Rupee becomes worst performer in Asia

Against the backdrop of the tensions caused by US-China war & India’s differences with its western neighbor, Pakistan, the Indian rupee slumped by more than 3% this month.

US delays tariffs on some Chinese goods

The US government has decided to postpone the imposition of tariffs on Chinese-made cellphones, laptop computers, shoes, apparel and other items till December 15.

Real estate outlook dips to 21-month low

The recently released data of Real Estate Sentiment Index Q2 2019 survey points toward the bleak future sentiment score of the sector, which stood at 47 during the quarter.

India received $13 billion foreign capital inflows in FY’19

India has been the recipient of US$ 13 billion net foreign funds so far this year, according to the findings of Goldman Sachs India Securities.

Equity benchmarks tumble on global cues

The Sensex slumped 624 points today, one of the biggest drops of this calendar year; while Nifty stooped below 10,950.

CIM reaches out to Russia

Given the low costs of land and labour, local pool of Hindi or English interpreters and the presence of a corruption-free government, he explained how India is an attractive investment destination.

India to hike import duty on solar devices

The government is planning to enhance the tariff on solar equipment in the coming years to encourage domestic industry.

China imports chili meals from India

The ensuing China-US trade war and US' unilateralism has propelled China to look for new import sources.

Govt mulls ways to enhance exports

In order to give a boost to the sagging economy and to improve credit flow, the government is exploring various options including “full reimbursement” of various imposts on exports and relaxed lending norms.

Digitisation to add a trillion dollars to India’s GDP by 2025

Digitization has the potential to add a trillion dollars to India’s GDP by 2025 according to Gautam Kumra, Managing Partner, McKinsey India.

Govt plans to add ‘made in’ tag to imported items

This measure will enable the government to curtail large scale dumping of goods and give a fillip to local manufacturing.

U.S.-China trade war may lead to recession

The recent developments in the spiraling trade spat include the US imposing 10% tariff on a final US$ 300 billion worth of Chinese imports w.e.f. Sept. 1 and labeling China as a currency manipulator.

Geographic limits lifted on labour inspectors

In a bid to break the corruption-laden nexus between inspectors & employers, the government has removed geographic limits on labour inspectors and introduced the option of web-based electronic inspection.

Steel Min considers duty free export of high grade iron ore

The steel ministry has initiated a study to examine whether higher grade iron ore is being exported by passing off as inferior grade material (with iron content up to 58%) or pellets.

Washington’s larger apple crop faces trade issues

According to the recent crop forecast by Washington State Tree Fruit Association, about 137.3 million boxes will be produced in 2019.

China to weaken its currency

For the first time in a decade, its central bank (People’s Bank of China) set the midpoint of the Renminbi’s daily trading range above 7 to the American dollar.

Indians willing to take loans to enhance lifestyle

Patna (61%), Lucknow (58%), Nagpur (56%) and Jaipur (54%) are the cities with the strongest family orientation towards such credit.

Industry seeks Rs 1 lakh crore to revive economy

In a meeting with Finance Minister, Smt. Nirmala Sitharaman, India Inc is demanding an amount of Rs 1 lakh crore to kick-start the investment cycle and to give a boost to India’s sagging economy.

China seeks to stabilize its currency

World Bank president David Malpass recently stated that China’s monetary policy statements “have been in the direction of stabilization,” though it faces several challenges in its interactions with the world.

World may face 1st recession in a decade

In the U.S., the recession risk is “much higher than it needs to be and much higher than it was two months ago,” noted Lawrence Summers, a former U.S. Treasury secretary and a White House economic adviser.

MOFPI, Agriculture Ministry vying for APEDA

Responsible for export promotion and development of 14 agricultural and processed foods, APEDA contributed to US$ 18.8 billion out of the total US$ 331 billion  exports by India in 2018-19.

RBI cuts repo rate to 5.40%

RBI Governor Shaktikanta Das sought to assure that the " economic slowdown is cyclical and not a deep structural slowdown".

Pakistan to suspend trade with India

Pakistan has decided to downgrade its diplomatic relations and suspend bilateral trade with India.

India’s soymeal exports in July decline by 59% YoY

A decline in demand owing to high prices has led to a 59% YoY dip in India’s July soymeal exports. 

India may miss sugar export target this year

India has only shipped 3.4 million tonnes so far out of the 5 million tones target that it had set for exporting sugar this season, which ends on September 30.

Experts expect gloomy festive season for India Inc.

More than 60% of 125 firms that have reported results so far have missed profit forecasts for the June quarter, the most since 2016, according to Refinitiv data.

Govt to provide licenses for fuel marketing

With the aim to attract foreign energy giants like Saudi Aramco, Total and Trafigura and supermarket chains, the government is planning to restructure fuel marketing in the country.

FMCG growth declines for 4th consecutive quarter

This has been attributed to the shift to cheaper daily essential brands by consumers in the urban markets and slowdown in the growth of rural sector.

Experts anticipate slowdown of Indian economy

The plummeting of rupee to a low of 70.73 against the US dollar in the background of the escalation of US-China war & the slipping of Yuan, has sent Indian exporters into a tizzy.

Govt working on Draft Ecomm guidelines

The principles for e-commerce business for preventing fraud, unfair trade practices and protecting the legitimate rights and interests of consumers.

Government to auction coal mines

The government has kick-started the process to auction 27 coal mines & allot 15 coal blocks to public sector undertakings, according to the Ministry of Coal.

Tourism ministry wants greater foreign visitors

Some of the measures that have been undertaken to rectify the situation include plans to plans to develop 17 sites to attract visitors.

Yuan dips on fears of China ending trade talks

China’s central bank allowed the yuan to slip below the seven-to-one dollar level, for the first time since 2008, triggering fears of a currency war.

India may rethink RCEP engagement

In the background of India’s staggering merchandise trade deficit with the RCEP grouping (US$ 105 billion in FY19), India may pull out of the mega trade deal if its demands are not met, according to sources.

Services business activity at 12-month high in June

On account of robust domestic and international demand and a rise in hiring, India's services activity in June’19 recorded the highest growth over a yea.r

Job cuts across automobile dealerships

These dealerships are compelled to hand out pink slips in order to weather the impact of the unprecedented plunge in vehicle sales.

Mexico is top trading partner of US

This is attributed to the ongoing US-China trade war, due to which imports from China to the US dropped by 12% and America's exports to China declined by 19%.

India plans to cut coal imports

The Ministry of Coal is devising strategies to trim imported coal by one third over the next five years to reach 150 million tons by FY 2023-24.

GST collected in July reaches Rs 1.02 tn

Gross GST collections in July 2019 stood at Rs 1.02 lakh crore, 5.8% higher than the Rs 96,483 crore collected in July 2018.

Malaysia could be India’s top palm oil supplier

Malaysia is all set to replace Indonesia as the top palm oil exporter to India in 2019. This is due to the fact that New Delhi has been charging lower import tax (50% from the earlier 54%) on refined palm oil shipments from Malaysia.

Foxconn planning to sell $8.8 billion China plant

In the backdrop of the simmering US-China trade war, Taiwan's Foxconn is exploring the possibility of selling its new US$ 8.8 billion display panel factory in China.

Walmart, the number 1 retailer in India

A study titled ‘Top 100 Retailers in Asia,’ has ranked Walmart as the top retail company in India. This has been on account of the American company’s acquisition of Flipkart in 2018 for US$ 16 billion.

Australia to pressurize India & China over RCEP

The Morrison government is all set to exert its clout over India & China to get an EU-style Asian trade agreement.

TEXPROCIL worried about dipping cotton yarn exports

The first quarter of the current fiscal saw a 33% YoY decline in India’s cotton yarn exports to 226 million kg, according to the Directorate General of Commercial Intelligence and Statistics data.

India’s exports improve amid trade war

India’s share of exports to the world rose by 1.71% in Q1 2019 from 1.58% in Q4 2017. The findings also suggest that the share of every other economy among Asia’s 10 biggest exporting nations plunged during the same period.

Exports vital for India to reach US$ 5 tn: CIM

In an interaction with exporters, Shri Piyush Goyal, Commerce & Industry Minister stated that for India to be a US$ 5 trillion economy in the upcoming years, the country’s exports will have to be US$ 1 trillion.

Core sector growth touches a 50-month low

In the month of June’19, core sector growth registered for India was merely 0.2%, the lowest in more than four years, when it saw a 0.5% contraction in April 2015.

43% drop in India’s June naphtha exports

India's naphtha exports dropped by 43% month on month in June’19. This could be on account of the maintenance at refineries, which is now largely completed. 

India 8th largest services exporter

According to a recent report by World Trade Organization, India was the 8th-largest services exporter and the 10th-largest services importer in 2018. It was also the 2nd– largest exporter of […]

Govt may withdraw MEIS incentive

As part of the new export-import policy, the Commerce & Industry Ministry is considering a move to terminate Merchandise Exports from India Scheme (MEIS). The new export-import policy is going to replace the earlier one which expires in 2020 and put an end to the 4% incentive given to the garments exporters under MEIS.

US & India collaborate for growth

According to Secretary of State Mike Pompeo, "Our Indo-Pacific strategy is well on its way to bearing fruit for not only them but for the United States, and we have watched these coalitions build out. We're working hard with the Indian government to provide them with opportunities to grow their economy as well."  

In FY’19, India got the highest-ever FDI

According to the Annual Report 2018-19 put together by the Department for Promotion of Industry and Internal Trade (DPIIT), India received the highest-ever FDI inflow of US$ 64.37 billion during FY’19.

India’s exports hike to China exceed its US exports

While overall exports to the USA grew by 9.46% to US$ 52.4 billion in FY19, for China the growth was 25.6% to US$ 16.7 billion.

Rs 26,000 crore revenue lost to service Asean FTA

While the exports to the 10 Asean economies rose by 9% YoY & stood at US$ 37.4 billion; the country’s imports were up by 25% and pegged at US$ 59.31 billion.

Dip in India’s non-basmati rice exports

According to data from the Agricultural & Processed Food Products Export Development Authority (APEDA), while India’s overall exports stood at 1.53 million tonnes during April-May 2018, the figures recorded for this year amounted to 711,837 tonnes. In values terms, India’s overall non-basmati rice exports slumped to US$ 294 million in April-May FY 2019-2020 as against US$ 652 million in the corresponding period last year.

GI tag conferred on Kodaikanal’s ‘hill garlic’

This tag recognizes that this pungent, raindrop-shaped garlic is an agricultural product unique only to this southern hill stations and forbids use of the name 'hill garlic' for other varieties.

India’s internet growth slowing down

This weakening growth in internet user base has been attributed to the fact that for many millions, going online is still an expensive proposition and the adoption of smartphones, too, is not high. The fact that most of the digital content is in English complicates the virtual experience for those proficient in vernacular languages.

India tries to bolster its ties with African nations

President Shri Ram Nath Kovind is scheduled to travel Benin, Gambia and Guinea. At the same time, Defence Minister, Shri Rajnath Singh landed in Mozambique on Sunday for his 3-day trip. Exclusive economic zone surveillance, sharing of white shipping information and hydrography are some of the things on the minister’s agenda.

China, India call for reformed multilateralism’ in global institutions

China said that there is a need to restructure IMF, UN, WTO & other global institutions at the recently concluded BRICS Foreign Minister's meet in Rio De Janeiro.

Spike in the import of consumer durables in FY’19

Though the government has been ardently championing its flagship ‘Make in India’ campaign, foreign goods stemming from countries having FTAs with India have inundated the domestic market, thereby impacting sales of domestically produced goods.

International environment hurting engineering exports

Exports by India fell by 2% from US$ 20.46 billion in the previous fiscal to US$ 20.08 billion for the first three months of this fiscal (FY 2019-20).

Jewellery exports to US could jump to US$3 billion: GJEPC

India’s jewellery exports to US could rise from US$ 1 billion to US$ 3 billion. For this jump to happen, Washington would have to extend duty benefits to these products under the Generalised System of Preferences (GSP).

IAMAI asks government to make India export-oriented

Niti Aayog chairman Amitabh Kant said while showcasing the report, “While India did succeed in attracting some companies to begin assembling phones here, the larger ecosystem comprising the vendors and suppliers of high value components and assemblies did not shift to India.”

Huge digital trade opportunity for India by 2030

According to the recent findings of Hinrich Foundation, All India Management Association (AIMA) and AlphaBeta Advisors, digital trade is likely to create trade possibilities worth Rs 3,331 thousand crore by 2030.

Russian envoy criticizes US unilateralism

BRICS opposes unilateral approach to world affairs, including illegal unilateral sanctions, hypocrisy and clandestine political agendas.

India to launch factories for battery manufacturing

The plan to establish these battery storage factories of 10 gigawatt hours (GWh) each is the brainchild of NITI Aayog, the country’s federal policy think tank.

57% yoy drop in deal activity during January-June’19

While this year the transactions done so far amounted to US$ 32.1 billion (US$ 17.9 billion for mergers & acquisitions and US$ 14.2 billion for private equity transactions), deals worth US$ 74.4 billion were concluded last year. 

Govt sets up a committee to study FDI in e-comm

Shri Piyush Goyal, Minister of Commerce and Industry informed the Lok Sabha yesterday that the government has set up a committee to study issues pertaining to foreign direct investment (FDI) […]

India plans more subsidies for sugar exporters

Defying criticism from Brazil and Australia that India’s sugar export subsidies are distorting global trade & hurting their farmers, India is mulling new subsidies for its sugar exporters.

Indian Ambassador to US discusses importance of Indian IT

Indian IT firms have invested more than US$ 50 billion across many states in the US & that programmes such as H1B visas have facilitated the movement of skilled labour between the 2 nations.

Auto slump could destroy 1 mn jobs: ACMA

There is an immediate need to stimulate vehicle demand and also sustain it post BS-VI implementation, as vehicles will become significantly expensive thereafter.

India rises to 52nd position in Global Innovation Index

India has jumped from its 57th rank last year to its current 52nd position in the Global Innovation Index due to the past measures of Indian government.

Indian drug approvals drop by 28% yoy in US in Q1 FY’20

The first quarter of the current financial year saw abbreviated new drug applications (ANDA ) received by Indian pharma firms dipping by 28%. While during 2017-18, 155 Indian firms received approvals by US Food and Drug Administration (USFDA).

Slowdown, trade tensions to dent seafood exports

Japan, the EU and the US have all seen declines in the total value of seafood imports in early 2019, giving back some of  the gains achieved last year.

IMF lowers India’s growth forecast for FY’20

According to the latest annual growth forecast of India for FY’20 by the International Monetary Fund, the economy is expected to grow at 7%, 0.3% point slower than IMF’s earlier projection in April.

Improvement in consumer sentiment in July’19

According to data for the month of July computed by the India Primary Consumer Sentiment Index (PCSI), consumer confidence recovered marginally by 0.6 points. The monthly survey registers consumer attitudes on the present and future condition of economy, personal finance, savings and investment confidence.

DPIIT pitches for facilitating ease of innovation

The government is giving a big push to IPR education by including it in school curricula, and so far over 4 lakh students have been covered under this initiative.

India prevents setting up of DSM for sugar subsidy at WTO

The main bone of contention is that the amount of support given to agricultural producers is in excess of India’s product-specific de minimis level of 10 per cent for sugarcane. In addition, subsidies such as the state-level export subsidy for sugar, federal-level assistance and export incentives (raw sugar export incentive scheme), and freight assistance seem inconsistent with the Agreement on Agriculture. 

Govt excuses exhibition ornaments from 3% IGST

In a major relief to India’s gems & jewellery sector, the government has exempted exhibition jewellery from 3% Integrated Goods and Services Tax (IGST). The Ministry of Finance has clarified that since such an activity is not a supply, it cannot be deemed as “zero rated supply‟ as per the existing IGST provisions.

Private sector needs to flourish: Amitabh Kant

Amitabh Kant, Niti Aayog’s CEO has opined that India needs to grow over 8% a year to become US$ 5-trillion economy by 2024-25. He also noted that the road to the country's economic growth goes through exports and staunchly advocated for globalizing the economy.

Government gives green chit for disinvestment in 23 CPSEs

Minister of State for Finance, Anurag Thakur, informed the Lok Sabha that the Government has given ‘in-principle’ approval for strategic disinvestment of 23 central public sector enterprises (CPSEs).

Automation impacting job creation

Two TeamLease Services reports anticipate a drop in employment creation in several principal job-creating sectors due to growing automation of key functions and activities. The study also indicates that there has been a rise in the tendency among employers to hire employees with new age skills. Another positive development is that in the short-run, 95% of the employers surveyed expressed an inclination to increase recruitments during these six months.

WTO appeals body may collapse: India

India has cautioned that the WTO appeals body is in danger of collapsing due to the US continuing to stall the appointment of judges.

Indo-US trade to reach US$ 238 bn by 2025

US-India bilateral trade is expected to grow to US$ 238 billion by 2025, according to a report by US-India Strategic Partnership Forum (USISPF).

CIM calls meeting to discuss trade avenues with US, China

Hon'ble CIM Shri Piyush Goyal has called a meeting of exporters and officials on July 31 to discuss ways to increase exports to US and China.

India top recipient of intl remittances in 2018: WB

A significant chunk of this contribution came from those individuals who migrated from Kerala. Gulf nations (UAE, Saudi Arabia, Kuwait, Qatar & Oman) and the United States continue to drive most of the remittances to India.

India enters demographic dividend phase

Since 2018, the growth in India’s working age population (people between 15 and 64 years of age) is outnumbering the growth in its dependant population. According to famous population studies, such a phase is usually accompanied by a rapid economic growth and is the result of changes in Total Fertility Rate.

BPOs/KPOs in tax net

According to a notification by the government, companies engaged in backend services related to Information Technology enabled Services (ITeS) will now come under the ambit of 18% tax under the GST regime. […]

India attempts trial sea shipment of mangoes

A trial shipment of 10 tonnes of the ‘Chausa’ variety of mangoes has already been sent by sea through this route. The consignment was sent from Lucknow to Pipavav port in the western state of Gujarat by road, to reach Italy via Spain.

Govt banking on pvt sector led growth: NITI Aayog

The think tank is of the opinion that space must be given so that the private sector in India can flourish. This could be done by changing the incentive structure pertaining to exports and ensuring greater participation of the country in global value chains.

IEA to cut oil demand forecast

“China is experiencing its slowest economic growth in the last three decades, so are some of the advanced economies ... if the global economy performs even poorer than we assume, then we may even look at our numbers once again in the next months to come,” Fatih Birol, IEA’s Executive Director said. Oil demand has slowed down in the US as well, the agency noted. While 2.2 million bpd increase was recorded in US last year, the growth estimate for this year is 1.8 million bpd.“China is experiencing its slowest economic growth in the last three decades, so are some of the advanced economies ... if the global economy performs even poorer than we assume, then we may even look at our numbers once again in the next months to come,” Fatih Birol, IEA’s Executive Director said. Oil demand has slowed down in the US as well, the agency noted. While 2.2 million bpd increase was recorded in US last year, the growth estimate for this year is 1.8 million bpd.“China is experiencing its slowest economic growth in the last three decades, so are some of the advanced economies ... if the global economy performs even poorer than we assume, then we may even look at our numbers once again in the next months to come,” Fatih Birol, IEA’s Executive Director said. Oil demand has slowed down in the US as well, the agency noted. While 2.2 million bpd increase was recorded in US last year, the growth estimate for this year is 1.8 million bpd.“China is experiencing its slowest economic growth in the last three decades, so are some of the advanced economies ... if the global economy performs even poorer than we assume, then we may even look at our numbers once again in the next months to come,” Fatih Birol, IEA’s Executive Director said. Oil demand has slowed down in the US as well, the agency noted. While 2.2 million bpd increase was recorded in US last year, the growth estimate for this year is 1.8 million bpd.

Credit Guarantee Enhancement Corporation in the pipeline

Envisioning the same in her maiden budget speech on July 5, Finance Minister Nirmala Sitharaman had said, “We recognize that investment driven growth requires access to low-cost capital. It is estimated that India requires investments averaging Rs 20 lakh crore every year.”

GSP removal to also impact US firms

While the termination of GSP will negatively impact India’s exports to US, it will also have a negative effect on US firms in India as their tax burden will grow by an additional US$ 300 million every year. This could further mean job cuts, scaling down investment plans and more prices for consumers.

Need to impart digital skills: Nasscom

“If we don’t fix the problem of talent pool immediately, there will be a point where companies are going to start hiring from each other. That’s going to have a big impact on wages and will redefine the competition landscape for companies,” stated Ms. Debjani Ghosh, President, Nasscom.

31% yoy drop in FDI in food processing in 2018-19

To entice foreign investors, FDI of up to 100% under the automatic route has been allowed in food processing industries. Furthermore, 100% FDI under government route for retail trading is permitted in respect of food products manufactured and/or produced in India. 

EV transition may take longer than a decade: TERI

Introduction of electric buses and taxis could be one step in facilitating consumers’ acceptance towards the use of EVs. Incentives against scrapping of old vehicles, launching EVs in a phased mannner, reducing GST & building public e-charging infrastructure are other ways suggested by TERI Director-General, Mr. Ajay Mathur, to enable this change.

Over 65% of H1-B visas since 2015 granted to Indians: MEA

Data suggests that the number of Indian nationals who were issued H1-B visas were: 125,528 in 2018, 129,097 in 2017; 126,692 in 2016; and 119,952 in 2015. H-1B visa has been designed to enable American firms to recruit foreign workers in specialty occupations that require theoretical or technical expertise.

US to substitute Chinese products with Indian imports

The Department of Commerce has identified 203 products which could be potentially exported to US. India is already exporting these products to US and is a competitor of China. India must capitalize on these opportunities soon before competitors like Vietnam and Cambodia take advantage.

EPC players in rooftop solar shutting shop

Falling margins and tariff pressure are making it difficult for these firms to meet their working capital and other operating expenses. These shutdowns have been attributed to flawed policy decisions by states like Tamil Nadu, UP & Rajasthan including failure to honour 20-30% capital incentives and retrospectively cancel net metering.

Bad loans dropped to Rs 9.34 lakh cr in FY’19: FM

Finance Minister Smt. Nirmala Sitharaman, pointed out that thanks to the steps taken by the government, the total bad loans of commercial banks declined by Rs 1.02 lakh crore to Rs 9.34 lakh crores in FY 2018-19. The government designed a comprehensive 4R's strategy for transparent recognition of non-performing assets (NPAs), resolution and recovery of value from stressed assets, recapitalizing public sector banks (PSBs) and restructuring PSBs.

Govt to ease local sourcing norms for FDI in single brand retail

"Designed in the UK - Made in India”can be the new focus area for this partnership. Similarly, in the services sector, India can provide huge technical expertise to British companies," the Minister of Commerce & Industry said. This could go a long way in establishing the 2 nations as preferred source countries in the global supply chain.  

China can inflict sanctions on US: WTO

In an earlier ruling, World Trade Organization (WTO) had ruled in favour of China, when it filed a case against United States’ anti-subsidy tariffs on its exports. US has not fully complied with the terms laid down by the ruling since it has enforced certain tariffs that are incompatible with the guidelines of the Geneva-based multilateral trade body.

Pharma growth slows down to 7.9%

Delay in the arrival of the monsoon and low rates of infections took a toll on the demand for acute therapy products. Low inventory stocking following the implementation of the goods and services tax (GST) also contributed to this trend, which intensified in May’19 when the market slowed down to a growth of 7% from an average of 10% in the earlier five months.

India to retain sugar export subsidies

India rolled out these subsidies in Setember’18 to incentivise mills for overseas sugar sales and set an export target of 5 million tons for marketing year ending September 30, ’19. This was done with the intention to enable mills to be able to pay the money owed to farmers. Besides launching a transport subsidy, the government has also increased the prices given to cane growers.

India’s steel exports drop 34% YoY in 2018-19

In order to check the situation, the"government has also notified 53 Steel and Steel Product (Quality Control) Orders which is applicable for both domestic production as well as imports," said Shri Dharmendra Pradhan, Union Minister for Steel. Other measures taken by the government to safeguard the domestic steel industry from unfair external competition include anti-dumping and countervailing duties.

India’s business sentiment lowest since June 2016

The net balance of private sector companies that were foreseeing output growth dropped from 18% in February to 15% in June. The tri-annual report predicted lesser profits, subdued hiring plans and relatively muted capital expenditure. However, there are hopes of demand pick up, pro-business government policies and a better financial flow improving profitability. 

Merchandise exports hit lowest value since March’18

Overall, India’s trade deficit narrowed for the month by 8% to US$ 15.28 billion. Weak indicators on consumption, along with lukewarm private investments also contributed to the slowest growth rate (5.8%) of the economy during January-March’19. Given these numbers, there’s a possibility that the economy could have slowed further during April-June, 2019.

Efforts on to address India’s RCEP concerns: Indonesia

India has clearly stated that the Regional Comprehensive Economic Partnership (RCEP) is not a win-win situation for all. One major demand by India pertains to easier mobility for its services professionals across borders under Mode 4. This is yet to be conceded by the members.

India’s defence exports to exceed target

India's defence exports are expected  to surpass the target of Rs 35,000 crore by 2024-25, according to Shri Ajay Kumar, Secretary, Defence Production Department. This exponential growth in defence exports has been attributed to the strong growth in shipments in recent years. He also asserted that the government has been actively involved in giving a boost to the private sector & MSMEs to invest in defence production under the existing production policy. For instance, the Ordinance Factory Board (OFB) had decided to scrap capacity verification for almost 90% of the products, excluding some sensitive items. OFB and defence PSUs are also planning to outsource about 3,000 items to encourage the MSME sector.

Slowdown lowers M&As by half in H1, 2019

The country’s economic growth slowed down to 6.8% in fiscal 2019, the slowest pace of expansion recorded in the last five years. This was accompanied by a decline in the number of deals to 183 from 234 during the same period. Inbound deals were hit too, dropping by 53% to US$ 12 billion; while outbound transactions halved to $1.4 billion in the first 6 months of 2019.

PMO seeks inputs on making India electronics manufacturing hub

As electronic products are the second largest contributor to the import bill, India wants to capitalize on the prospect created by the Sino-US trade tensions & evolve as an attractive base for manufacturing and exports. 

No major gains from India-US trade talks

Negotiations on vital matters such as agricultural commodities, e-commerce, and steel and aluminum have been deferred. India’s major concern remains that the US could be planning to push for a major FTA that could hurt India’s competitiveness.

Textile sector hit by rising imports & NBFC crisis

The lack of working capital has prevented companies from capacity expansion and made servicing of existing loans difficult. Sales also continue to be sluggish in India & are said to have been slumped by 20-25% in recent weeks.

Q1 auto-sales record strongest de-growth since 2008-09

This drop has been attributed to reasons like production cuts and closure of plants by major automakers to manage higher inventory costs due to weak demand.

US-India to engage in trade talks

Following the meeting of Indian PM Shri Narendra Modi and US President Donald Trump in Osaka, Japan, along the sidelines of the G20 Summit, the two nations have announced that they will restart their trade talks.

Right time to restart Air India privatization

The government is likely to retain a 24% stake and all attendant shareholder rights available to it under law, instead of opting to remain as a minority financial investor.    

Housing affordability in India has worsened since 2015

According to RBI's Residential Asset Price Monitoring Survey, there was an increase in the house price-to-income ratio in India in the last four years from 56.1 in the March’15 to 61.5 in March’19.

Rupee rises to 11-month high vs US dollar

 The rupee along with other Asian currencies strengthened against US dollar, touching a high of Rs 68.30. Consequently, the benchmark Sensex rose by 0.42% to 38,720.44 points. So far this year, the index has risen by 7.38%. 

US removes country cap on Green Card

This bill enhances the per-country quota on family-based immigrant visas from 7% of the total number of such visas available that year to 15%. It also eradicates the 7% cap for employment-based immigrant visas.

Tax hike on super-rich to affect Expat hiring

The higher remuneration of expats could weigh in on India’s image as a pool of talent. Expats are an imperative source of senior talent across numerous sectors.

India’s FDI drops by 64% in June 2019

Of the total overseas direct investment during June’19, US$ 340.28 million was in the form of equity infusion, US$ 222.06 million was through loans and US$258.02 million came in through issuance of guarantee.

Apple exports India-made iPhones to Europe

The move would go a long way towards establishing India as a lucrative export hub for smartphone companies & reducing the cost of production of iPhones.

Weak growth could complicate fiscal consolidation

Moody’s Investors Service has opined that subdued growth will make fiscal consolidation and raising incomes challenging for the government.

Indian industry concerned on RCEP impact: CIM

Indian Industry is not convinced that RCEP will create a win-win situation for all by ensuring balanced outcomes in across the key pillars, particularly goods and services.

Indo-China trade drops by 3.5%*

India's exports to China in May 2019 stood at US$ 1.52 billion, dropping by 7.15%, while Chinese exports have declined by 4.54%, standing at US$ 6.66 billion. Consequently, the bilateral trade in May’19 dropped by a significant 5.04% YoY.

Trump sneers at India again over tariff hike

While the bilateral relationship between US & India has bloomed over the years, it has been dented by the row over market access and tariff escalations, leading to fears of a protracted dispute with larger ramifications.

Indians are the second highest paid ethnic group in UK

A report by the UK's Office for National Statistics (ONS) titled, ‘Ethnicity Pay Gaps in Great Britain: 2018', reveals that Indians earn 13.47 pounds an hour on an average and are the second highest paid ethnic group in UK, after China. They also have the second highest employment rate of 75.9%, following the Whites.

51% rise in receiving Canada’s green card

While in 2017, Canada had admitted nearly 26,300 people from India under the express entry route, in 2018, it awarded PR to 39,677 Indians.

India’s trade to grow despite global contraction

India is the only one of four nations in Asia (tracked by the Global Trade Barometer) to still record an index value of above 50. The growth in India's trade has been attributed to strong ocean trade.

CEPCI lauds hike in import duty on cashew kernels

The Cashew Export Promotion Council of India (CEPCI) is of the opinion that the hike of 45-70% in import duty on cashew kernels in the budget 2019-20 is a reason to rejoice.

IT Dept working on real-time issuing of e-PAN

The government has initiated projects to enhance the technology backbone of the Income Tax department resulting in enhanced time-bound services to the taxpayers as well as increase their voluntary compliance.

RBI could go for another rate cut

RBI governor Shaktikanta Das termed the budget’s proposal to infuse ₹70,000 crore of capital into state-run banks as a positive development. Ahead of themonetary policy review on 7 August, he expressed happiness […]

Govt. could reduce stake in PSEs to below 51%

The government is open to reducing its stake in select state-controlled firms to as low as 40%. This is in sync with the government's commitment to disinvestment in the budget.

More reforms for startups on the anvil

In line with the announcement on e-verification for angel investors in the budget, the government is planning to roll out a string of measures to make it easier for the startups to do business in the country.

Singapore and Pacific Alliance discuss an FTA

Modern services, food production, information and communication technology and urban solutions are some of the sectors where the FTA could be concluded.

Corporate tax cut to benefit nearly 4,000 companies

The Centre is expected to forego Rs 3,000 crores revenue annually as a consequence of this move, which covers 99.3% companies filing returns.

External borrowings to dent Indian exports: TPCI

Sovereign bond demand will rise, which will appreciate the price of rupee slightly. This might impact India's exports by up to 5 per cent.

Investment-driven growth envisaged in Budget’19

The budget'19 announced that the government is considering further opening up of foreign direct investment (FDI) in aviation, media, animation, and the insurance sectors.

Budget’19: Ease of business for MSMEs & startups

Startups and investors who file requisite declarations will not be subjected to any kind of scrutiny by the income tax department with respect to valuation of share premium.

FM gives push to infrastructure in Budget’19

The Government has given a massive push to all forms of physical connectivity & infrastructure development needed for it in the Union Budget’19.

Union Budget’19 announces ‘Matsya Sampada Yojana’

The government’s maiden budget intends to bring the fishermen community under the framework of welfare programmes and social security schemes.

US reports India’s hike on 28 goods to WTO

The US argued that India does not enforce these duties on like products originating in the territory of any other WTO member nation.

Economic Survey pegs FY20 GDP growth at 7%

The Economic Survey 2019-20 sees investment as the "key driver" of simultaneous growth in demand, jobs, exports & productivity.

India’s trade deficit rises with 25 countries

Commerce & Industry Minister Shri Piyush Goyal informed the Parliament that there has been a rise in India’s trade deficit with 25 countries in the last 3 years. These include […]

Government could unveil new industrial policy

The government is all set to unveil a new industrial policy in the upcoming Union budget. The policy is expected to revolve around the Make In India theme to re-industrialize […]

Contraction in services for first time since May’18

Weak sales, competitive pressures and unfavourable taxation have led to a contraction in services sector in June’19 for the first time since May’18.

Higher MSP for kharif farmers

The Cabinet Committee on Economic Affairs has given its nod to higher support prices for kharif, or summer-sown crops. The measure is in accordance with the aim to give farmers 1.5 times the cost of production.

Revenue gain of US$ 217 mn from retaliatory tariffs

India is likely to get additional US$ 217 million of revenue from the retaliatory tariffs it imposed on 28 American products.

Investments touch 15-year low in June quarter  

According to data by the Centre for Monitoring Indian Economy, investments in new projects dropped to a 15-year low for the quarter ending June 2019. Indian companies from both the […]

India to remain net importer of steel

Over the next two years, India will continue to be a net importer of steel according to Fitch Ratings Ltd.’s local unit. This can be attributed to the fact that […]

Govt announces measures for farm cooperatives

The government has announced the setting up of an export-promotion forum & trade fair (October 11-13) to support farm cooperatives. The Commerce and Industry Minister, Shri Piyush Goyal, and Agriculture […]

Coal to be top power source till 2030

According to the recently released assessment of Central Electricity Authority, coal may account for half of India’s power generation in 2030 despite a boom in solar and wind energy projects. […]

India’s tea exports to Iran treble in Q1’19

There has been an increase in India’s tea exports to Iran in the first quarter of 2019 to 27.09 million kg despite the prospects of India losing this market due […]

40% drop in India’s solar imports in Q1

According to the latest trade data, India’s solar imports witnessed a significant year-over-year (YOY) decline in the first quarter (Q1) of 2019. While in Q1, 2018, India imported US$ 1.1 […]

Sugar industry opposes FSSAI move

In a bid to encourage consumers to make healthier food choices, the draft regulations of FSSAI have a provision that requires packaged food companies to label sugar content of products. […]

Government seeks ideas for new foreign trade policy

The Ministry of Commerce & Industry has invited stakeholders to offer suggestions for boosting the exports and trade for its new foreign trade policy (2020-25). Given the fact that some […]

Slowdown in India’s core sector growth

According to the recently released official data, there has been a mere 5.1% growth in May’19 in India’s 8 core sectors. This is attributed to slowing growth in coal and […]

High level committee for agricultural reforms

Prime Minister Shri Narendra Modi has approved the establishment of a panel for agriculture reforms. The committee would suggest the modalities for adoption and time-bound execution of agriculture sector reforms […]

FSSAI wants jurisdiction over India’s food trade

The Food Safety and Standards Authority of India (FSSAI) wants to amend the Food Safety and Standards Act so that it gets more jurisdiction over India’s food exports & imports. […]

Debacle in Kuwait over Indian degrees

Kuwaiti government has decided to recognize degrees only if India’s National Board of Accreditation (NBA) approves of the courses they studied.

RBI surplus may not help government much

The possibility of the government getting a fiscal boost from the RBI surplus is pretty slim. The high-level Bimal Jalan panel (which is looking at the economic capital framework) is […]

India protects pharma and agri interests at RCEP

India has managed to get 3 harmful provisions pertaining to pharmaceuticals and agriculture dropped out of the Regional Comprehensive Economic Partnership. These provisions related to patent term extensions and data […]

China lifts curbs to boost FDI

In a bid to entice foreign investors, China’s state planning agency is loosening FDI curbs in numerous sectors. These sectors include petroleum and gas exploration, agriculture, shipping agencies, cinemas and […]

India-US discuss issues at G20

Prime Minister Shri Narendra Modi held talks with US President Donald Trump ahead of the G-20 Summit. Discussions took place on various bilateral and global issues such as Iran, 5G […]

CIM reviews measures to reduce logistics costs to 9%

Union Minister of Commerce & Industry, Shri Piyush Goyal, spoke about having better coordination between the Ministries of Commerce & Industry, Road, Civil Aviation and Railways while reviewing the draft […]

Plastic industry opposes high duty on raw material

The proposal of the Indian Chemical Council to increase duty on raw material has not gone down too well with the plastic industry, which has urged the government to roll […]

India wins renewable energy case at WTO

In a massive development, India defeated the US at WTO in a case concerning America’s domestic content requirements and subsidies provided by eight states in the renewable energy sector

Banks asked to appoint official for MSMEs

The Ministry of Finance has instructed banks to appoint a general manager-level official to solve the problems faced by micro and medium enterprises. The move intends to boost the MSME […]

Government negotiating GSP with US: CIM

Union Commerce Minister Shri Piyush Goyal informed the Lok Sabha that the government is negotiating the issue of withdrawal of the Generalised System of Preferences (GSP) status with the US.

Data localisation excluded from e-commerce policy

The Union Minister of Commerce & industry, Shri Piyush Goyal has decided to exclude data localization norms from the final e-commerce policy. He has left the proposed data...

US urges India to lower trade barriers

As US Secretary of State Mike Pompeo set his foot on the Indian soil on Tuesday, the Trump administration made a case for India’s adoption of fair and reciprocal trade […]

India imported coal worth Rs 1.7 lakh crores in FY’19

Coal Minister, Shri Pralhad Joshi, informed the Parliament that India imported 235.2 million tons (MT) of coal in 2018-19 valued at Rs 1.7 lakh crore in FY’19. During the previous […]

G20 nations adopting new trade restrictive measures

According to the World Trade Organization’s 1st Monitoring Report, G20 members have imposed 20 new trade-restrictive measures in last 8 months (between mid-October 2018 and mid-May 2019). Commenting on the […]

New norms for GI logo & tagline use

Department for Promotion of Industry and Internal Trade (DPIIT) has come out with fresh rules surrounding the logo & tagline use of Geographical Indication. As per the guidelines proposed by […]

US-India trade talks during G20 meet

Indian Prime Minister Shri Narendra Modi, & other world leaders will meet US President Mr. Donald Trump on the sidelines of the G20 Summit in Japan to hold a discussion over […]

Export-led growth imperative: Arvind Panagariya

Arvind Panagariya, the first Vice Chairman of the NITI Aayog, has stated that export-led growth is imperative for creation of good jobs in India. While the government is focusing on […]

India planning incentives to attract Chinese cos

With the aim of attracting investments from Chinese companies, India is mulling over the idea of offering incentives such as preferential tax rates and the tax holiday like the one […]

Logistics sector to create nearly 1.5 lakh jobs

According to the Team Lease Services biannual ‘Employment Outlook’ report for April-September 2019-20, the logistics sector is expected to add 1.49 lakh new jobs in the April-September period. This implies […]

India’s garment exports witness a rebound

There has been an augmentation in the exports of India’s readymade garments (RMG), after a 2 year hiatus. Exports of RMG for May’18 rose by 14.05% YoY in May’19 to reach US$ […]

Dismal monsoon could cut into food exports

Contrary to India’s enviable position of having established itself as a food basket for the world, there is a possibility of a decrease in its food exports, thanks to the […]

Bill to promote investments in SEZs

Commerce & Industry Minister, Shri Piyush Goyal, introduced a bill in the Lok Sabha that paves the way for trusts to set up units in special economic zones (SEZs), replacing […]

US replacing Iran for India’s oil imports?

In the backdrop of the sanctions imposed by it on Iran, US has emerged as a leading source for India’s oil importers. India, touted as the world’s third-biggest oil importer, bought […]

Indian scheme for agri-exports criticised at WTO

The new transport and marketing assistance scheme for farmers introduced by the Union government in March has been under fire at the World Trade Organization (WTO). According to Australia, the scheme may have flouted a WTO’s Nairobi Ministerial meet decision on curbing such subsidies. The scheme provides assistance for the international component of freight and marketing of agricultural produce which is likely to alleviate the disadvantage of higher transportation charges of export of specified agriculture products in specified overseas markets. These markets include North America, the EU, some countries in South America, China, the ASEAN, New Zealand and Australia.

India, China & Russia to discuss US trade policies

Along the sidelines of the G20 Summit in Osaka, Japan, the leaders of BRICS are likely to discuss ways to oppose the "unilateralist" and "protectionist" trade policies of the US. China's Assistant Foreign Minister Zhang Jun stated, “Given the current international landscape, the meeting among the three leaders is also of significance. As you know, China's relations with Russia and India are showing sound momentum of growth." Given the fact that US has withdrawn the GSP benefits given to India, China is optimistic that India will support China, which is embroiled in a trade war with US. Talks will also be held on other areas like cooperation on economy, political issues, security and people-to-people exchanges among the grouping to further deepen cooperation and uphold the good momentum of BRICS cooperation, he said.

Malaysian PM mulls RCEP without India

In the backdrop of the longstanding Regional Comprehensive Economic Partnership talks, Malaysia’s PM – Mahathir Mohamad – expressed his desire to conclude the trade pact bereft of India for the time being. According to a recent report by Nikkei Asian Review, China, too, has echoed the same view in the face of the slow progress in bringing India, Australia and New Zealand on board. India has so far not signed on the dotted line of this mega Asia-Pacific trade agreement owing to its reluctance in opening up its markets. The negotiations started in 2013 and involve 16 countries – the 10 Southeast Asian nations and their large trading partners: China, Japan, South Korea, India, Australia & New Zealand.

India steps up on talks to check oil prices

In order to keep a check on the spiraling oil prices which have resulted from the US sanctions on Iran, India has resorted to diplomatic channels to address the issue. The recent geopolitical tensions – attacks on oil cargoes in the Gulf region and downing of a US drone by the Islamic Republic – have added to the woes of oil importers in India. These tensions may also drive the freight and insurance costs up. The rising crude prices are a serious cause of concern for India as it imports 84% of its oil needs. In order to ensure a constant supply of oil from the region, India has also deployed warship and aircraft to secure tankers headed to India from the Persian Gulf region.

35% Decline in India’s steel exports to US

Commerce & Industry Minister Shri Piyush Goyal, informed the Rajya Sabha that there has been a 35% drop in India’s steel exports to the US during FY 2018-19. This can be attributed to US imposition of additional tariff of 25% and 10% on steel and aluminium respectively across the globe (except Mexico & Canada, owing to its security ties). Interestingly, however, there was a 14% increase in the aluminium exported by India to the US. Of late, Washington & New Delhi have levied a string of tit-for-tat tariff measures. For instance, US has revoked India’s status as a beneficiary of the Generalized System of Preferences. India has hiked tariffs on more than 29 products imported from US.

US denies targeting India on H1B visas

The US has officially denied that it will put a cap on H1B visas for nations that compel foreign companies to store data locally. This was confirmed by a state […]

New industrial policy to be announced soon

President of India Shri Ram Nath Kovind stated in a sitting session of both houses that India will announce an industrial policy soon to promote industrial growth and provide jobs. […]

Motorola plans to make India export hub

Motorola, which is now owned by Lenovo, is focused on making India an export hub to bolster its thrust towards profitable growth in the country. It is currently exporting around […]

No Made-in-America products for Huawei?

US has cautioned the Indian government that companies found supplying equipment/other products made by the US to Huawei or its units may face punitive action. The letter was sent to the Ministry of […]

RBI opts for growth focus over inflation targeting

The RBI’s Monetary Policy Committee (MPC) has admitted that it is critical to give greater importance to the faltering economic growth, as inflation in India well within the monetary policy committee’s […]

Ukraine sees opportunity in India-US trade tussle

Ukraine is optimistic that India's imposition of tariffs on apples and nuts from US will provide it a great opportunity to penetrate the Indian market.

Indian pharma to reach US$ 120-130 billion by 2030

The Indian pharma industry has set a vision to reach US$ 120-130 billion by 2030 from US$ 38 billion presently, according to a report by Indian Pharmaceutical Alliance (IPA).

US threatens to cap H1B visas for India

The United States is reportedly planning to impose caps on H-1B visas for countries that compel foreign companies to store data locally according to sources, obviously referring to India’s position […]

Corporate debt market growth at 10-year low

Growth in India's corporate debt market has been slowing since 2017, and recorded its weakest growth in over a decade at 9.7% in May 2019, according to the Bloomberg Economics index. In comparison..

No need for regulator for e-commerce: CIM

The Government of India has disapproved the demand by small traders for a regulator in the e-commerce sector. Commerce & Industry Minister Shri Piyush Goyal told representatives of small traders during […]

GST on EVs could come down to 5%

India could reduce the goods and services tax (GST) on electric vehicles (EVs) from 12% to 5% to boost the sector. The proposal to this effect is expected to be considered by […]

Government may remove LNG import duty

The Indian government could do away with the import duty on liquefied natural gas (LNG) in the upcoming Union Budget to be presented in July. The Petroleum and Natural Gas Ministry […]

China proposing RCEP without India?

China is reportedly proposing a new Asian free trade agreement without India, a development that exposes significant strains in negotiations over the 16-country Regional Comprehensive Economic Partnership. According to the […]

India’s tariffs could depress Washington apple prices

The apple industry in Washington has affirmed that retaliatory tariffs by India on US apples will have a severe impact on exports. The state expects exports to India to slow […]

Defence exports grow by over 100% in 2018-19

India’s defence exports have increased by over 100% YoY to reach Rs 10,745 crore in 2018-19 from Rs 4,682 crore in 2017-18 , led by policy liberalisation and access to the […]

California almond growers worried on Indian tariffs

California Senator Dianne Feinstein has strongly criticised US President Donald Trump for “damaging” trade ties with India. Her statement carries significance especially in context of India’s retaliatory tariff imposition on 29 […]

India’s flexi-workforce reached 3.3 mn in 2018

India’s workforce under flexi-staffing (provided through contractors to various employers) has grown at a compound annual growth rate (CAGR) of 16.3% to reach 3.3 million in 2018 as opposed to 2.1 […]

US ready for more tariffs on China if talks fail

US Commerce Secretary Wilbur Ross has affirmed that President Donald Trump is ready to impose additional tariffs on the remaining US$ 300 billion worth of imports from China if the […]

US, India farm policies questioned at WTO

Farm support initiatives by India and US have been questioned by other WTO members in their questions submitted to the organisation’s quarterly agriculture committee meeting. Both US President Donald Trump and […]

No multi-brand retail trade by foreign companies: CIM

In a meeting with e-commerce companies, Minister of Commerce & Industry Shri Piyush Goyal asserted that the Government of India will not allow multi-brand retailing by foreign companies. He added that they […]

Fitch cuts India’s GDP growth projection to 6.6%

Global rating agency Fitch Ratings has cut its India’s GDP growth forecast for the second consecutive time to 6.6% for the current fiscal. It had earlier cut its forecast from […]

UKIBC seeks review of FDI norms for retail

The UK-India Business Council (UKIBC) has asked the Government of India to review its norms for investment in multi-brand retail to boost FDI in the politically sensitive sector. Currently, India […]

Industry body seeks higher export duty on iron ore

The Pellet Manufacturers’ Association has sent a written request to the Prime Minister’s Office for an increase in export duty on iron ore from 30% to 50%. The association is […]

US-China war could boost Indian exports in 354 items

A study by the Commerce Ministry has concluded that India can boost exports in at least 354 items, ranging from capital goods to base metals as a result of the […]

India’s exports grow by 4.32% in Apr-May 2019

India’s total exports (merchandise and services combined) in April-May 2019-20* are estimated at US$ 92.33 billion, growing by 4.32% YoY, according to latest figures released by the Department of Commerce. Imports for the period are estimated at US$ […]

India imposes retaliatory tariffs on US goods

India has decided to levy retaliatory tariffs on 29 US products after the latter removed India from the GSP regime. The tariffs became effective on Sunday, June 16. 2019. A […]

India submits proposal on fisheries subsidies

India has introduced a new proposal at the WTO to protect its rights to provide subsidies to small and artisanal fishers in the country. In this proposal, India has suggested […]

DGFT increases MIP for cashew kernels

The Directorate General of Foreign Trade (DGFT) has increased the minimum import price (MIP) for broken cashew to Rs 680/kg from Rs 288/kg. The price of whole cashew has also been raised to Rs 720/kg […]

India’s sugar production could fall in 2019-20

India’s sugar output is projected to fall by as much as 15% in 2019-20 due to the onset of severe drought in the major sugar growing regions. This will lessen […]

Xi Jinping commits to open more doors for India

Chinese President Xi Jinping has promised to further simplify regulations for import of certain goods from India to address the trade imbalance between the two countries. He said this during […]

Pompeo urges India to open up on trade

US Secretary of State Mike Pompeo has urged India to open up its economy and “diversify” its energy portfolio, adding that countries that provided American companies with access to their local markets […]

FSSAI food packaging norms to be effective from July

The Food Safety & Standards Authority of India (FSSAI) is preparing for implementation of new packaging regulations, which will be effective from July 1, 2019. Successful implementation of these regulations will need integrated […]

IIP reaches 6-mth peak, inflation also surges

India’s factory output showed an expansion in April to reach a six-month peak. Statistics from NSO show that the index of industrial production (IIP) expanded at a rate of 3.4% […]

India among top 20 sources of FDI

India is expected to secure a place for itself among the top 20 countries for outbound FDI by the end 2019, according to a survey of investment promotion agencies (IPAs) conducted by the United […]

CIM reviews India’s past FTAs

According to official sources, the Hon’ble Minister of Commerce & Industry Shri Piyush Goyal has studied India’s past FTAs in detail and the extent of gain it has provided to […]

Cashew exports plunge to two-decade low

India’s cashew exports have dropped to a two-decade low in 2018-19, falling by 20% YoY to 66,693 tonnes and by 24% YoY in value terms to Rs 4,434 crore. Export quantities […]

Government to curb sub-standard steel imports

The government is planning to take urgent measures to curb the import of defective/sub-standard steel in the interest of domestic manufacturers. The issue was discussed at a high level meeting […]

Global trade could drop by 17% in trade war

Mr Keith Rockwell, Director of Information & External Relations, WTO, has struck a note of caution on the ongoing hostilities in the global trade environment. He warned that in case […]

Government removes export incentive for onions

A weak supply situation has led to a steep rise in the price of onions and compelled the government to revoke 10% export incentives on the vegetable. Last December, amidst […]

India and China hold talks on RCEP

India and China held discussions on the deadlock in RCEP negotiations on June 10 and 11, led by Commerce Secretary Shri Anup Wadhawan and Chinese Vice Minister of Commerce Wang […]

India ranked 4th for tech investments

India is ranked 4th among the top overseas investment destinations for London technology companies over the past decade, according to official data released by London & Partners, the Mayor of London’s […]

India strategises for military goods exports

India has prepared a list of 85 countries for export promotion of military equipment where it wants to promote its defence equipment. It has empowered its defence attaches to show […]

India has world’s fastest growing cities

Singapore has overtaken the US as the most competitive economy globally in the IMD World Competitiveness annual ranking. Hong Kong SAR took the second position followed by the US at […]

Trump demands zero duties on motorcycles

US President Donald Trump has demanded that India must bring down import duties on American goods. In particular, he stressed that the duty on motorcycles must be reduced to zero, […]

China-India partners to counter US?

Ahead of the meeting between Indian PM Shri Narendra Modi and Chinese Vice President Xi Jinping on the sidelines of the upcoming Shanghai Cooperation Organisation (SCO), China has welcomed India […]

Trump defends Mexico deal amidst criticism

US President Donald Trump continues to staunchly defend his deal with Mexico, wherein he backed off from a threat of 5% tariffs in return for Mexico promising to control the […]

Pepper producers stung by Vietnamese imports

Pepper exports in India are expected to witness a steep fall from 16,840 tonnes in 2017-18, which was in itself a relatively low figure. The reason is a drop in […]

Gems & jewellery exports witness downturn

India’s gems & jewellery exports have been witnessing a declining trend of late due to the twin challenges of slowing international demand and weak liquidity in the Indian market. According […]

CIM emphasises on preserving WTO’s core principles

Shri Piyush Goyal, Minister of Commerce & Industry, emphasised on the importance of preserving the essential principles of the WTO in its reform process. He stated, “India believes that the […]

FM raises taxation of digital firms at G20

India’s Finance Minister Smt Nirmala Sitharaman urged G20 countries to resolve the issue of taxation of profits by digital companies in countries where they do not have a significant physical […]

US sanctions jeopardize India-Iran trade payments

Indian rice and soya bean exporters have been unable to sign contracts with Iran owing to the ambivalence after US ended the waiver on sanctions against Iran. They requested the […]

Bumpy ride ahead for Indian IT firms

Indian IT firms are likely to face a volatile situation in the near future w.r.t. the banking and financial services, which account for a major share of the tech services business. […]

India’s containerised exports grow by 6%

Despite the fact that the rupee has been appreciating, there has been a 6% growth between January’19 & March’19 in India’s containerised exports, according to a report by Maersk India. […]

Road transport minister advocates adoption of EVs

Minister of Road Transport Shri Nitin Gadkari, has suggested a move to cleaner automobiles – electric vehicles – and called for a wider consultation of stakeholders to facilitate this change. This move […]

Steel consumption predicted to increase by 5-6%

India’s steel consumption is expected to increase by 5-6% in 2019, according to CARE Ratings. This growth will be driven by the government’s resolve to spend on infrastructure and construction. […]

CIM advocates increasing export competitiveness

Addressing the Board of Trade and the Council of Trade Development and Promotion, Mr. Piyush Goyal stressed on the need to slash export subsidies and increase competitiveness. “Let us look at […]

Automation to displace 107 million women from jobs

According to the findings of a recent McKinsey report, nearly one-quarter of all women employed across the globe could be replaced by automation. Correspondingly, 163 million men (21%), could face […]

RBI cuts repo rate by 25 basis points

The Reserve Bank of India’s Monetary Policy Committee reduced the repo rate by 25 basis points while switching its policy stance from neutral to accommodative. The reverse repo rate under […]

Government mulls reducing export subsidies

The Government of India is exploring the possibility of bringing down export subsidies and is instead looking for ways to boost infrastructure, the flow of credit and enhance insurance. These […]

India’s tea exports rise by 11.5% in April

As per data computed by Tea Board India, Ministry of Commerce & Industry, India’s tea exports increased by 11.5% to 17.93 million kg in April’19 as compared to 16.08 million […]

CIM looks to revamp Ministry to boost exports

Shri Piyush Goyal, Minister of Commerce and Industry is looking to revamp the Ministry to propel India’s exports, according to a report published in TOI. The plans will include expanding […]

India to become the 2nd largest economy in APAC by 2025

India is likely to catapult itself to the position of the 5th largest economy this year and outperform United Kingdom, reaching a total GDP size exceeding US$ 3 trillion. It will […]

GSP withdrawal will have marginal impact on pharma

The termination of the Generalized System of Preferences (GSP) benefits by the US could have a relatively marginal impact on Indian pharmaceutical companies that export drugs to the US. Dinesh Dua, […]

FSSAI envisages coverage of exports

The Food Safety & Standards Authority of India (FSSAI) has proposed changes to the Food Safety and Standards Act (FSS Act), seeking to bring export consignments within its purview. The […]

Indian animation show becomes global success

Netflix’s first Indian animation show for children, ‘Mighty Little Bheem’, has become a global sensation. The second most watched show in the world on Netflix, after ‘Boss Baby: Back in […]

Gems & jewellery exports dip in 2018-19

A slowdown in demand in developed markets of the world has led to gems & jewellery exports declining by 5.32% YoY in to US$ 30.1 billion in 2018-19, according to […]

India’s PMI surges to 3 month high

Amidst the fears of economic slowdown driven by the annual growth for FY 2018-19 and quarterly growth figures (January-March, 2019) hitting a 5 year low, there is a sign of […]

Indian rupee is Asia’s top performer in last 3 mths

Due to the influx of foreign currency, the Indian Rupee has emerged as the top performing currency in Asia over the last 3 months. The election of Mr. Modi as […]

GSTN fosters digitisation for small firms

The Goods and Services Tax Network (GSTN) has allowed smaller firms (those with a turnover of 1.5 crore or lower) to download a software that would help them move ahead […]

Trump regime pulls the plug on GSP for India

US has put an end to benefits available to India under the Generalized System of Preferences (GSP). The move came after the US administration concluded that India has not committed […]

India, China guzzling on coal imports

Coal imports by India and China reached multi-year highs in May 2019, despite the shift being made towards renewable sources. Together, they accounted for a share of over 50% of […]

Smt Badal appointed Minister for Food Processing

Smt Harsimrat Kaur Badal has been appointed as the Honourable Union Minister for Food Processing Industries for the second time under the Narendra Modi government. She made her debut in […]

Shri Goyal appointed Commerce & Industry Minister

Shri Piyush Goyal has been appointed as the Minister of Commerce and Industry in the newly elected Modi government. He will also assume the charge of the Railways Ministry. Shri Goyal […]

US firm on evicting India from GSP regime

Despite its desire to build warm relations with the newly elected Indian government, the Trump administration is steadfast on removing India from the Generalized System of Preferences (GSP) due to […]

Africa FTA ratified by 24 countries

The Africa Continental Free Trade Agreement (AfCFTA) has been ratified by the parliaments of 24 countries after removal of a procedural hurdle. So far, 52 nations are on board vis-à-vis […]

Japan & South Korea dominate India’s steel imports

Japan and South Korea accounted for an overwhelming 57% of India’s steel imports (pegged at 630,000 tonnes) in April 2019, compared to 45% in the previous month. Imports from Japan […]

India is out of US currency monitoring list

The US has removed India’s name from its list of currency manipulators globally, showing confidence in India’s forex policies and clearing it of alleged involvement in measures like currency devaluation […]

New policy expected for exports via e-commerce

Department for Promotion of Industry & Internal Trade is planning to come up with a strategic roadmap to boost India’s exports via the e-commerce route. The policy will reportedly incorporate […]

Indian e-pharma to reach $2.7 bn by 2023

India’s e-pharma market is projected to reach a size of US$ 2.7 billion by 2023 from US$ 360 million currently, according to a report by consulting firm E&Y. According to […]

US to impose duties on Indian glycine

The US International Trade Commission has concluded that glycine imports from countries like India, China and Japan are damaging the interests of the US industry. The Commission has inferred that […]

Indian pharma players hope to penetrate China

The Indian pharmaceutical industry is eagerly looking forward to new avenues in the wake of the US-China trade war. Though Chinese regulations are quite complex, the industry is preparing to […]

India ranked 43rd in World Competitiveness Ranking

India climbed up one place to 43rd most competitive economy in the IMD World Competitiveness Ranking, owing to its robust economic growth, a large labour force and huge market size. […]

Surging metal imports derailing Make in India

The Process Plant and Machinery Association of India (PPMAI) has expressed concern over the rise in imports of metals and capital goods due to India’s Free Trade Agreements (FTAs) with countries like  […]

New Department for trade facilitation & logistics

In its 100-day agenda for the new government, the Commerce and Industry Ministry has proposed formation of a separate department for trade facilitation and logistics, to facilitate better coordination among […]

FDI inflows shrink for the first time in 6 years

FY’19 saw FDI equity inflows dropping by 1% to US$ 44.4 billion, the first decline over the past 6 years, according to data released by the Department for Promotion of […]

US, Japan, EU seek to amend rules on farm subsidies

US, Japan & EU have pleaded to WTO to amend the rule on farm subsidies, in the backdrop of the claims of under-reporting of farm subsidies. According to the WTO […]

Coconut exports surge on activated carbon demand

Coconut product exports are set to cross Rs 2,000 crore in value terms in FY 2019 due to higher prices for activated carbon in the international market. Till January 2019, […]

China’s import curbs concern aluminium exporters

India’s aluminium exporters are jittery about China’s plans to curtail aluminium imports from July. Furthermore, there is speculation that China will dump aluminium in India due to its trade war […]

Government plans scheme to replace MEIS

The Government plans to do away with Merchandise Export from India Scheme (MEIS) – that subsidizes exports – which has been challenged by US in the World Trade Organization (WTO). […]

Commerce Ministry releases draft export policy

The Ministry of Commerce & Industry has promulgated a new set of product-specific regulations pertaining to India’s exports. A ready reckoner for exporters, the draft policy intends to consolidate the […]

IFC advocates local sourcing of garments

In the wake of the surge in garment imports from Bangladesh, Indian Texpreneurs Federation (ITF) has made a case for sourcing clothing requirements from within the country instead of importing. […]

US monitors India for “unfair currency practices”

Alleging currency undervaluation, US has added the India to its list of economies to watch out for unfair practices and macroeconomic policies. The semi-annual report on US’ trade partners’ macroeconomic […]

Low output to reduce India’s mango exports

India’s mango growing regions – Uttar Pradesh, Maharashtra, Gujarat & South India – have succumbed to the adversities caused by vagaries in weather. Furthermore, low production & increased logistical costs, […]

India defends ‘development dimension’ at WTO

At a recent informal gathering of select trade ministers in Paris, India has emphasised that it “cannot agree to any approach which undermines the centrality of the development dimension in […]

Make India an export & private-sector driven economy

Principal Economic Advisor Sanjeev Sanyal has suggested that the Reform Agenda 2.0 should focus on turning India into an export and private sector driven economy. He further affirmed during an  […]

Theresa May to resign, leaving Brexit undone

In the backdrop of continued uncertainty over Brexit, Theresa May has announced her decision to step down as Britain’s Prime Minister on 7th June, 2019. She stated, “I will resign as leader […]

India to widen lead in GDP growth with China

According to estimates by the Paris-based think-tank Organization for Economic Cooperation & Development (OECD), India’s GDP growth lead over China is expected to increase in the coming years. Despite the […]

Trump foresees inclusion of Huawei in China deal

Even though the US government sees Huawei, the second-largest smartphone maker in the world, as “very dangerous”, US President Donald Trump sees the possibility of its inclusion in the trade talks […]

Bangladesh hikes import duty on rice

In a move aimed at protecting its domestic rice cultivators from the competition posed by neighbouring countries like India, Bangladesh has decided to nearly double its import duty to 55%. […]

Expert committee mulls strategy to reduce oil import

A High Level Committee of companies has submitted short-term, medium-term & long-term strategies to reduce India’s rapidly swelling oil imports to the Ministry of Petroleum & Natural Gas. In 2018, […]

Indian exporters hold Basmati shipments to Iran

Fearing payment defaults in the light of the sanctions imposed by UN on Iran, Indian exporters have withheld shipments of Basmati rice to Iran. The ambiguity over trade with Iran […]

Textile exporters optimistic on US-China war

Surat-based textile exporters are highly optimistic regarding potential gains from the US-China trade agreement in fabric and readymade garment exports to the US. According to Synthetic & Rayon Export Promotion […]

New import norms for diamond merchants

A Mumbai Customs directive has laid down new procedures for importing rough diamonds, which seek details on origin, size, shape, type, colour and clarity of diamonds from overseas. The fact […]

India’s oil imports rise by 14% in April

In the month of April’19, India has registered an 18% hike (US$ 9.8 billion) in its oil import bill in value terms and by 14% (19.7 million tonnes) in quantity […]

Iron ore exports could surge with rising prices

With iron ore fetching US$ 100 per ton, the highest in the last 5 years in the international markets, India’s exports of lower grade iron ore could increase. According to […]

New investments in India on continuous decline

New investments in the Indian economy have continued to decline for the fourth consecutive year in 2018-19. The previous fiscal saw new investments at Rs 9.76 trillion, compared to Rs […]

UN expects India to grow at 7.1% in FY’20

According to UN’s recent World Economic Situation and Prospects (WESP) 2019 Mid-year Update, the Indian economy will grow at 7.0% in 2019, in comparison to 7.2% growth registered last year. […]

US wants to participate in Indo-Japan dispute

US has requested the World Trade Organisation (WTO) to allow it to participate in consultations between India & Japan on the tariffs levied on IT products on the grounds that […]

WTO predicts slowdown in trade growth

WTO foresees continued sluggishness in global trade growth during the second quarter of the current financial year due to the escalating tensions in the ensuing tariff spat between US & […]

TPCI anticipates losses over RCEP deal

Trade Promotion Council of India (TPCI) has expressed concerns over the Regional Comprehensive Economic Partnership (RCEP) as it could lead to a flooding of imported goods in Indian markets. According […]

US-China war can benefit Indian textile sector

The imposition of tariffs on China’s textiles has created an opportunity for Indian textile manufacturers, according to a report by the Confederation of Indian Textiles Industry (CITI). The tariff hike by the […]

Taiwan sees huge trade potential with India

India is being perceived as a major market by Taiwan. This is attributed to a string of developments such as the New South Policy (2016), the current China-US trade tensions […]

Aluminium & copper industry concerned on dumping

In the light of the ongoing trade friction between US & China & the likely dumping of aluminium & copper products in India, industry insiders cautioned the government about the […]

Defence Ministry envisages policy to boost local content

In order to promote the level of indigenous content in defence equipment procured by the Indian Armed Forces, India’s Ministry of Defence (MoD) is rolling out a new policy. The […]

Indian cashew producers eye Chinese market

Changing consumption patterns in China have led Indian cashew producers to regard China as a potential market. However, there is one stumbling block in this development – unlike Vietnam & […]

India loses US$ 500 mn on e-transmissions annually

The current tax exemptions on e-transmissions are costing India around US$ 500 million every year, according to a research paper by UNCTAD. The paper estimates a total loss of around […]

London Mayor bats for favourable norms for India

Sadiq Khan, the Mayor of London, is championing the cause of framing preferential norms for India, akin to those offered to China, in order to give an impetus to India’s […]

Bangladesh’s exports to India cross US$ 1bn

Thanks to the surging garment exports, India & Poland became major export destinations for Bangladesh, in addition to 9 other economies in 2018-19. According to the data collated by Export […]

India recorded trade deficit with 11 RCEP countries in 2018-19

In the financial year 2018-19, India recorded a trade deficit with as many as 11 out of 16 member nations of planned Regional Comprehensive Economic Partnership (RCEP). While India had a […]

US-China tensions to have a ripple effect on Indian economy

According to an analysis by Indian Ratings and Research (Ind-Ra), the trade spat between US & China will lead to the latter dumping its products at predatory rates in emerging markets, including […]

Turkey laments US move to end GSP benefits

The US has removed Turkey from the list of nations getting benefits under the Generalised System of Preferences (GSP), as threatened by it earlier in March. Turkey was the fifth […]

SOPA urges curbs on imports soyabean & palmolein

Soybean Processors Association of India (SOPA) has urged the government to stop the illegal import of refined soyabean oil and palmolein from Nepal at zero customs duty. This concession, which […]

Export opportunities to UAE, via Amazon

Amazon, with the help of Souq, a Dubai-based e-commerce company, will allow India’s online vendors to export their products to the UAE. This move is likely to trigger an increase […]

India’s grape exports to Europe by 31%

The year 2018-19 saw a 31% increase in the export of grapes to Europe, one of the most premium markets for the product. Within Europe, the prominent destinations for India’s […]

India inundated by surging garment imports

The period during April 2018-February 2019 saw an increase in garment imports by 47% to US$ 1 billion and a 5% decrease in exports as per the data collated by […]

US blacklists Chinese telecom major Huawei

In a move that could possibly escalate the US-China trade war, the Trump administration has imposed heavy sanctions on Chinese telecom equipment major Huawei, even as treasury secretary Mr Steve Mnuchin […]

Shortfall anticipated in India’s sugar exports

According to the estimates of All India Sugar Traders’ Association, sugar mills have only exported 56% of their minimum indicative export quota (2.8 million tons out of 5 million tons) […]

India set to export BrahMos to SE Asia & Gulf regions

With a number of South East Asian and the Gulf countries expressing an interest in BrahMos, India is all set to commence the export of this supersonic cruise missile later […]

India points to inconsistencies in OECD report

The OECD Services Trade Restrictive Index (STRI) report for 2018 has evaluated a total of 45 economies (36 OECD and the rest non-OECD) and 22 sectors. According to the report, […]

Textile Ministry foresees a rise in jute availability

The Union Ministry of Textiles has forecast a 10% increase YoY in jute production for the year 2019-20. While the final estimates for 2018-19 were 72 lakh bales; estimates for […]

Exports rise by 1.3% in April 2019

India’s total exports (merchandise + services) are estimated to have grown by 1.34% YoY in April 2019 to reach US$ 44.06 billion, according to latest estimates released by the Department […]

Jet Airways crisis affects mango exports

The grounding of the 120-strong fleet of Jet Airways as a repercussion of the financial woes facing the international carrier, is now impacting exports of Alphonso mangoes to Europe & […]

India Inc fears steel dumping by China

Indian steel makers are apprehensive that with the increase in tariffs by US, China could dump large quantities of steel into the Indian market. The industry has asked the Government […]

India postpones tariff imposition on US imports

The Government of India has further delayed its plans to levy retaliatory import duties on 29 US products till June 16. India planned to levy these duties on American products […]

Japan-India tussle over mobile phone import duties

Japan has accused India of advancing its interests by fostering domestic production and adjusting various taxes, including custom duties, under the Make in India project. While WTO membership terms specified […]

USTR eyes US$ 300 billion of Chinese imports

In continuation of the simmering trade war between US and China, the US Trade Representative (USTR) proposed to increase tariffs levied on 3,805 Chinese imports, pegged at about US$ 300 billion. […]

CPI inflation reaches 6-month high

The Indian economy witnessed a hike in consumer price index (CPI) based inflation, which rose from 2.86% in March’19 to 2.92% in April’19, the fastest growth over the past six […]

Indian pharma firms face litigation in US

Seven leading Indian pharmaceutical firms including Sun Pharma, Cadila Healthcare and Wockhardt are facing litigation in the US for alleged collusion in price fixing. The lawsuit includes 20 companies, led […]

Exporters may avail automated GST refund by June

Indian exporters of goods and services as well as suppliers to SEZ units are expected to receive GST refunds automatically from the coming month, according to an official source. So […]

Commerce Minister highlights crisis in WTO

Addressing the World Trade Organization Ministerial Meeting in New Delhi, Commerce and Industry Minister, Mr Suresh Prabhu, opined that “the crisis in the Appellate Body threatens to bring back power […]

China retaliates on US$ 60 bn of US exports

Retaliating to the U.S. government’s decision to increase tariffs on US$ 200 billion worth of Chinese goods from 10% to 25%, China will hike tariffs on US$ 60 billion worth […]

India’s vehicle sales see a record fall in April

The Society of Indian Automobile Manufacturers’ (SIAM) findings suggest that the sales of passenger vehicles have plummeted in April’19 by 17% YoY to reach 247,541 units, the worst fall in […]

Basmati rice prices drop by 5%

Basmati rice prices have fallen by around 5% over the past two weeks due to uncertainty regarding the impact of US sanctions on Iran. Exporters have asked the government for […]

India hosts 2-day WTO Ministerial meeting

India is hosting a 2-day WTO Ministerial meeting starting today in New Delhi to discuss and build consensus on various issues. A meeting between senior officials of participating countries is being held […]

First shipment to Afghanistan reaches Chabahar

India’s first export shipment to Afghanistan of around 500 tons of rice has reached Chabahar, according to Mr Khan Jan Alokozay, deputy chairman of Afghanistan Chamber of Commerce and Industries. […]

India, Vietnam discuss opportunities for pharma trade

Vice President of India Mr Venkaiah Naidu asked Vietnamese President Mr Nguyễn Xuân Phúc to facilitate the entry of Indian pharma players in Vietnam. He assured Mr Phúc that Indian players have the capability […]

Duty hike on Chinese goods adds to uncertainty

The US duty hike on US$ 200 billion worth of Chinese imports came into effect today. US President Donald Trump has said that this is important to ensure that China […]

FTAs not beneficial for chemical & petrochemical sectors: FICCI

Industry body FICCI has released a research report with consulting firm Matt MacDonald which concludes that most free trade agreements (FTAs) signed by India have not helped the chemical and […]

India imports additional non-GM corn from Ukraine

India has imported an additional 27,000 tonnes of non-genetically modified (GM) corn from Ukraine at US$ 205/tonne (CIF) according to sources. This procurement became necessary as India faced a shortage due […]

EEPC asks RBI to help exporters

EEPC India has asked the Reserve Bank of India to help Indian exporters in a scenario where US-China trade tensions are increasing, crude prices are unstable and forex markets are subject […]

India finalises protocol for chilli meal exports to China

Commerce Secretary Anup Wadhawan and General Administration of Customs of China (GACC) Vice-Minister Li Guo signed a protocol for exports of Indian chilli meal to China on Thursday. This is […]

China promises retaliation if Trump raises tariffs

China has threatened to retaliate if US President Donald Trump goes ahead with his plan to increase tariffs on US$ 200 billion worth of Chinese imports from 10% to 25%. Trade delegations […]

Iran sanctions bring uncertainty for Indian soyameal exports

The Indian edible oil industry is worried about the possible impact that US sanctions on Iran could have on exports of oilmeal. Due to the prevailing uncertainty, they are apprehensive […]

US demand on scrapping ICT duties not feasible, says India

India has responded to US demands for removing 20% duties on imports of seven ICT products that also include high-end cell phones. While this would benefit US exporters, India asserts […]

India, China meet to discuss trade deficit

Officials from the Department of Commerce will be meeting a delegation from the General Administration of Customs of China (GACC) today to discuss ways to bring down India’s trade deficit […]

Cash is king for the rich

The world’s rich are erring on the side of caution by increasing their cash holdings, according to a recent Quarterly Investor Sentiment survey by UBS. The survey reveals that cash […]

Indian IT services market to reach US$ 14 billion by 2023

The IDC Asia/Pacific Semiannual Services Tracker – 2H 2018 has projected that the Indian IT & Business Services market will grow by 8.8% annually to reach US$ 13.1 billion by […]

Russia reducing dollar component in trade with BRICS

A report by global audit and consulting firm FinExpertiza reveals that Russia’s trade with its BRICS partners– Brazil, India, China, and South Africa – reached US$125 billion during the previous […]

Cotton imports likely to have doubled in 2018-19

India’s cotton imports are estimated to be twice their value in 2018-19 compared to the previous year to an unprecedented 3.1 million bales. This is owing to the drop in […]

CEPC asks government to clamp down on illegal imports

The Cashew Export Promotion Council has requested the government to restrict illegal imports of cashew kernels, which have caused the shutdown of over 50% of Indian factories and job losses […]

Iran oil imports drop by 57% yoy in April

According to data on tanker arrivals viewed by Reuters, India’s imports of oil from Iran dropped by 57% year-on-year in April 2019. Average oil imports from Iran were at 277,600 […]

Sun Pharma eyes potential in China

India’s largest drug maker Sun Pharma is confident of scaling up its business in the US$ 160 billion Chinese pharmaceutical market over the next 6-9 months. China has embarked on a huge multi-city drug procurement programme across cities,

India’s steel imports expected to increase

The demand-supply scenario for steel in India during the previous fiscal year indicates that steel imports are expected to grow in the coming months. While steel consumption grew by 7.5% YoY in 2018-19 to 97.54 million MT

Services PMI at 7-month low

India’s Services PMI touched a 7-month low to reach 51 in April 2019, as compared to 52 in March. The decline signified slower increase in new businesses and growth in output.

US shale cannot compensate for Iranian oil

After ending the waiver period for sanctions on oil imports from Iran, the US has been trying to export more of its shale oil to India. But India, which is looking for alternative sources to supplement the shortage,

US Commerce Secretary cautions India against retaliatory tariff action

Speaking at the 11th edition of Trade Winds Business Forum & Mission hosted by the US Department of Commerce, US Commerce Secretary Wilbur Ross has cautioned India against imposing any retaliatory tariffs on US exports.