Business
India, US To Focus On Increasing Market Access: MoS Finance
NEW DELHI: India and the US would focus on increasing market access, reducing tariff and non-tariff barriers, and enhancing supply chain integration, Minister of State for Finance Pankaj Chaudhary said on Monday. In a written reply in the Lok Sabha, Chaudhary said India continues to engage with the US...
Export duty removal on onion to aid farmers’
NEW DELHI: The government’s decision to withdraw 20 per cent customs duty on onion exports effective April 1 will boost farmers’ income, Agriculture Minister Shivraj Singh Chouhan saidon Monday. “There will be no duty on onion export so that onion grown by our farmers with hard work reaches the...
CRA To Scrutinise Claims By Investment Service Providers
NEW DELHI: Markets regulator Sebi has said that risk-return metrics of services offered by investment advisers, research analysts and algo trading providers will be scrutinised by a credit rating agency, a move aimed at checking claims of high returns. Under the new norms, the credit rating agency (CRA) will...
India’s Tech Startups Clinch $2.5 Billion Funding In Q1 2025
NEW DELHI: India’s tech startups raised $2.5 billion in the first quarter of 2025, marking a 13.64 per cent increase over the previous quarter and an 8.7 per cent rise from the year-ago period, a feat that secured its spot as the third most-funded country globally after the US...
US Tariffs Looming, India Looks At Easing Non-Trade Barriers, Relaxing Chinese FDI
MUMBAI/NEW DELHI: With some dialling down of tensions between India and China along the border, policy makers are more open to upgrading bilateral economic relationships now. It is being viewed as an opportune time, particularly when US President Donald Trump is pushing India to the corner on reducing tariffs...
GST On Insurance May Be Slashed To 5 Per Cent
NEW DELHI: The Goods and Services Tax (GST) Council may settle for a reduction in the tax rates on health & life insurance, instead of a full waiver. The GST, which now applies at 18% on gross premiums, is likely to be reduced to 5%, while retaining the facility...
MSME Loan Threshold Under Digital Footprint Model Hiked To Rs 10 Crore
NEW DELHI: The government has urged public sector banks (PSBs) to extend loans up to Rs 10 crore through the newly launched digital footprint-based credit assessment model from Rs 25 lakh to Rs 5 crore now, to accelerate seamless credit flow to the micro, small and medium enterprises (MSMEs)....
State-Run Banks Bearing Good Deal Of Credit Card Bad Debt
MUMBAI: State-run banks are grappling with elevated levels of bad loans in their credit card portfolios, particularly from cards issued between September 2021 and October 2023, when they aggressively expanded customer base amid intense competition from fintech players. Public sector banks (PSBs) had a credit card bad loan ratio...
Strong Trade Momentum For India In December Quarter: UNCTAD
NEW DELHI: India has seen strong goods and services trade momentum in the Dec quarter, a report by UN body Unctad has said but cautioned that global trade could be hit by the policy shifts in the US and trade and geopolitical tensions.Besides, it has pointed to high duties...
Jaishankar Stresses Need For Diverse Energy Relationships
MUMBAI: External Affairs Minister S Jaishankar has said that India, as the world’s fifth-largest economy, must necessarily develop a broad and diverse set of energy relationships. After decades of hearing the virtues of globalisation, the world today is grappling with the reality of industrial policies, export controls and tariff...
India Imposes Anti-Dumping Duty On Five Chinese Products
NEW DELHI: India has imposed anti-dumping duty on five Chinese goods, including vacuum flasks and aluminium foil, during the month so far to guard domestic players from cheap imports from the neighbouring country. These duties were imposed as these products — Soft Ferrite Cores, certain thickness of vacuum insulated...
Public Sector Banks’ Dividend Rises 33 Per Cent To Rs 27,830 Crore In Fiscal Year 24
NEW DELHI: Dividend payout by public sector banks (PSBs) have risen by 33 per cent to Rs 27,830 Crore in FY24, indicating significant improvement in financial health of these lenders. PSBs declared a dividend of Rs 27,830 Crore to shareholders in 2023-24 as against Rs 20,964 Crore in the...
Tamil Nadu Gets Major PLI Projects In Electronics, Automobile: Sitharaman
CHENNAI: Tamil Nadu has emerged as a key beneficiary under the Production-Linked Incentive (PLI) scheme, receiving a significant share of projects in the electronics and automobile sectors, Union Finance Minister Nirmala Sitharaman said. Addressing an event organised by Chennai Citizens’ forum on Saturday evening, Sitharaman dismissed charges of the...
Customs Rule Of Origin Changes May Raise Compliance Cost For Importers: GTRI
NEW DELHI: The amendments in the customs rules to tighten checks on goods imported under free trade agreements (FTAs) could make it harder for businesses to do imports at concessional duties and may increase compliance cost, economic think tank GTRI said on Sunday. However, it said the move would...
Separate E-Commerce Inflation Index Likely
NEW DELHI: The ministry of statistics and programme implementation (MoSPI) is considering launching a new inflation index, which would track retail prices of items being sold on e-commerce platforms. The new index will not be part of the consumer price index (CPI), but will be released along with the...
Commerce Ministry To Seek Extra Funds For Export Mission
NEW DELHI: The ministry of commerce and industry will seek additional funds for the newly announced Export Promotion Mission (EPM), once the umbrella scheme that will absorb various export promotion initiatives gets approval from the Cabinet. “Under EPM it (department) is working to carve out an umbrella scheme with...
No Tax Demand After Resolution Plan Approval, Says Supreme Court
NEW DELHI: The Supreme Court (SC) has said that no tax demand, even if raised by the income-tax (I-T) department, can be allowed to be included in a resolution plan after the said plan has been approved by the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy...
India’s Oil Import Dependency On Course To Hit Fresh Full-Year High In FY25
NEW DELHI: Growing demand for fuel and other petroleum products amid stagnant domestic crude oil output led India’s reliance on imported crude oil increasing to over 88 per cent in the first 11 months of the current financial year ending March (FY25), indicating that the import dependency for the...
