Business
14-Nation Agreement On Supply Chain Resilience Opens Doors For India
The Indo-Pacific Economic Framework’s (IPEF) Supply Chain Resilience Agreement (Pillar 2) is probably the fastest-concluded plurilateral economic cooperation agreement, which Commerce Minister Piyush Goyal signed on November 14. India along with 13 other countries (Australia, Brunei Darussalam, Fiji, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand,...
FDI Equity Inflows Contracted 24% In First Half Of FY24, Shows Data
NEW DELHI: Foreign direct equity investments into India fell by 24 per cent to $20.5 billion during the first six months of the financial year 2023-24 in comparison to a year earlier, according to data released by the industry department on Tuesday. While the government did not officially cite...
New Protocols Soon To Boost Shipments Of Fruits, Vegetables Via Sea
NEW DELHI: Despite the ban on wheat and restrictions on rice exports, India’s overall food exports are still going strong on the back of strong pick-up in shipments of fruits and vegetables. The government is developing protocols for transport of these products through sea to grab a larger share...
New Coal-Fired Power Plants May See Easier Lending Norms
NEW DELHI: The government is looking at easing lending norms for new coal-fired power stations as it doubles down on the most-polluting fuel to meet a sharp uptick in electricity demand, amid reports that France and the US are preparing to propose a ban on private funding for coal...
Banks Seek ITR Access Via NSDL To Vet Borrower Info
NEW DELHI: Lenders have asked the government for access to income tax returns through National Securities Depository (NSDL) to help validate declarations made during loan applications, people familiar with the development told ET. Banks speak of multiple instances when applicants have declared inflated or fake income details with forged...
Rules Of Origin For Medical Sector Remains Sticking Point In India-UK FTA
NEW DELHI: Finalising the rules of origin for the medical devices sector remains a sticking-point in the proposed free-trade agreement (FTA) between India and the UK and the talks are on to iron out the differences, an official said. Huge potential is there in the medical devices sector in...
Retail Inflation For Agricultural, Rural Workers Marginally Up In October
NEW DELHI: Retail inflation for agricultural labourers and rural workers rose marginally to 7.08 per cent and 6.92 per cent in October, respectively, from 6.70 per cent and 6.55 per cent respectively in September 2023 due to higher prices of certain food items. Point to point rate of inflation...
Demand For Workspaces Eases On Global Downturn; Shift To Office Holds Hope
BENGALURU: The net leasing of Grade-A commercial office space in India will stagnate this financial year at 32-34 million square feet, with global uncertainties brewing caution among key tenant categories, according to the latest Crisil Ratings report. Major seven cities in India – Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan...
GDP Growth To Rise To 6.5 Per Cent In FY25: Goldman Sachs
NEW DELHI: India’s real GDP growth will rise to 6.5% in 2024-25 from an estimated 6.2% in 2023-24, aided by the government’s pre-election spending in the first half of 2024 and private investment in the later half, global investment firm Goldman Sachs said in a report on Monday. On...
Net Exports Likely A Growth Push In Q2 Despite Drop In Goods Shipments
NEW DELHI: Net contribution of India’s foreign trade to its Gross Domestic Product (GDP) may have been positive in July-September FY24 quarter, despite merchandise exports shrinking in the period on a year on year basis, economists said. While in Q4F23 net exports helped boost the GDP, it dragged it...
India Must Protect Autonomy Post IPEF Deal, Says GTRI
NEW DELHI: Negotiation phase for India is practically over at the Indo-Pacific Economic Framework for Prosperity (IPEF) with agreement on supply chains already signed and talks almost over on clean and fair economy. It must move cautiously now to protect space for the domestic policy action, according to a...
UK Stance On Agri GI Items Remains Hurdle In FTA Talks With India
NEW DELHI: The UK’s demand of a higher level of protection for its GI products from the agriculture sector under the proposed free trade agreement (FTA) with India remains an unresolved issue as the talks for the pact are on to iron out differences, an official said. British GI...
IoT Stack On Lines Of Aadhaar, UPI In The Works
NEW DELHI: After the success of digital public infrastructure (DPI) such as Aadhaar, Unified Payments Interface (UPI), DigiLocker, etc, the government is planning a homegrown Internet of Things (IoT) stack based on open source tools and software. The plan, officials say, is to come up with a low-cost and...
Tesla, Auto MNCs Likely To Get Relief On Local Value Addition
NEW DELHI: In what can result in a major relief for Tesla and other multi-national car companies looking to import electrics in India at a specially-crafted and subsidised 15% duty regime that is being proposed, the government may exclude cost-heavy batteries, semiconductors, and even magnetic parts from the committed...
Penal Amount Hike On The Cards As RBI Likely To Revamp Framework
MUMBAI: The Reserve Bank of India (RBI) may undertake a comprehensive review of its framework for penalties, according to a top regulatory source. These may include raising the penal amount; the feasibility of linking it to the size of regulated entities (REs), especially for systemically important entities, and repeat...
India Seeks To Restart Stalled Adani Coal Imports Probe
NEW DELHI: Investigators are seeking to restart a probe into Adani Group for alleged overvaluation of coal imports and have asked the Supreme Court to allow them to collect evidence from Singapore, a step they say the company thwarted for years, legal documents show. The Directorate of Revenue Intelligence...
India’s G20 Presidency Advocated Solutions From Within Global South: EAM
NEW DELHI: External Affairs Minister S Jaishankar on Friday said that India’s G20 Presidency advocated for finding solutions from within the Global South. He said that India walked the talk by hosting the first Voice of the Global South Summit in January 2023 and added that the nations were...
Indian E-Commerce Exports Should Touch $200 Billion In Next 6-7 Years: DGFT
NEW DELHI: India’s e-commerce ecosystem is about to explode in the near future as exports may touch $200 billion during the next six-seven years from the current $1.2 billion, said Santosh Kumar Sarangi, director general (DG), Directorate General of Foreign Trade (DGFT) at an event on Friday. Addressing the...
