Business
India’s Bioeconomy Leaps From $10 Billion To $165.7 Billion In 10 Years
NEW DELHI: Over the past decade, India has emerged as one of the fastest-growing bioeconomies in the world, with the sector expanding to $165.7 billion in 2024 from $10 billion in 2014. With an ambitious target of $300 billion by 2030, the bioeconomy is steadily becoming a cornerstone of...
E-Commerce Majors Eye Festive Jackpot After GST Boost
MUMBAI: For Flipkart and Amazon this festive season will not just be about flashy discounts and all-night shopping marathons. With the cut in goods and services tax (GST) on a wide range of consumer goods and fast-moving consumer products, both the e-commerce giants are preparing for what could be...
Engineering Exports To US Face $8-Billion Hit From Tariff Hike
NEW DELHI: India’s engineering exports to the US are projected to decline by $7.5–$8 billion as the entire product basket in the sector now faces 50% tariffs, creating an urgent need for government support.“The business is down 50%. After frontloading of exports before the full tariff impact came into...
SEBI Issues New Rules For Surrendering KRA Licences To Safeguard Interests Of Investors
NEW DELHI: The Securities and Exchange Board of India (Sebi) on Friday issued a circular introducing a structured framework for surrendering KYC Registration Agency (KRA) licences, aimed at ensuring orderly winding down of such entities while protecting investors’ interests. The regulator said the new framework is designed to handle...
India’s 15-Year Defence Plan Includes Nuclear-Powered Carrier, Navy Jets
NEW DELHI: India could build its third aircraft carrier, to be nuclear-powered, as part of a 15-year defence modernisation plan announced on Friday that also includes the use of Indian-made fighter jets by the navy for the first time. Bordered by strategic rivals China and Pakistan, both of whom...
Two-Rate GST Structure Approved; New Rates From September 22
NEW DELHI: The Goods and Services Tax (GST) Council, chaired by Union Finance Minister Nirmala Sitharaman, on Wednesday reached a consensus to move to a simplified two-tier rate structure and exempt individual health and life insurance premiums from GST. However, Opposition-ruled states raised concerns about the lack of a...
Health Ministry Looks To Reduce Drug Development, Approval Timelines
MUMBAI: The Union health ministry is planning to amend the New Drugs and Clinical Trials (NDCT) Rules, 2019 to reduce delays in drug development and approval timelines in the country, with the overall statutory processing time for test licence applications expected to be reduced from 90 to 45 days....
India Services PMI Hits 15-Year High In August
NEW DELHI: The Indian services sector growth touched a 15-year high in August, driven by a sharp rise in new orders and output, amid substantial improvement in demand conditions, a monthly survey said on Wednesday. The seasonally adjusted HSBC India Services PMI Business Activity Index was up from 60.5...
Switzerland Eases Norms To Implement FTA With India
NEW DELHI: Switzerland, the biggest economy of the four-nation European Free Trade Association (EFTA), has adopted all the necessary regulatory amendments to implement the customs concessions agreed in the trade agreement with India. The agreement that was signed in March 2024, will become operational from October 1. Other members...
Indian Shadow Banks’ IPO Boom Falters Amid Mounting Credit Stress
MUMBAI: India’s once-burgeoning pipeline for new stock sales by shadow banks is stalling as strains across the sector prompt lenders to scrap or delay listings. TPG Inc.-backed SK Finance Ltd. and Belstar Microfinance Ltd. are the latest firms to shelve plans for initial public offerings, according to people familiar...
India Seeks WTO Consultations With US Over 50% Duty Imposed On Certain Copper Products
NEW DELHI: India on Tuesday sought consultations with the US under the World Trade Organisation’s (WTO) safeguard agreement over 50 per cent tariffs imposed on certain copper products by America. This move comes after India reserved the right to impose retaliatory duties on select US products in response to...
India Hopeful Of Concluding Trade Pact With US By November: Piyush Goyal
NEW DELHI: Commerce and Industry Minister Piyush Goyal on Tuesday expressed hope that India will conclude the proposed bilateral trade agreement (BTA) with the US by the fall or November this year. He said that “a little bit” of geopolitical issues overtook the trade matters in the negotiations for...
SBI Raises $500 Million In Five-Year Dollar Debt Sale At 4.5% Coupon Rate
MUMBAI: The nation’s largest lender State Bank of India has said it has closed its foreign debt issue raising $500 million from international debt investors through unsecured fixed rate notes, offering 4.5% to investors in annual reruns. The issue of unsecured fixed rate notes comes after the nation’s sovereign...
Govt Spending And Exports Likely To Begin Unwinding In Q2, Says BMI
NEW DELHI: After a better-than-expected 7.8 per cent growth in the first quarter of financial year 2026 (Q1FY26), the front‐loaded government spending and exports are likely to begin to unwind significantly in the second quarter, BMI, a Fitch Solutions company, said in its India Outlook report published Monday. “Government...
Centre Proposes GST Cut On Personal Care, Food Items In Consumption Boost
NEW DELHI: The Union government is learnt to have proposed slashing the GST rate on personal care items to 5% from 18% earlier in new details emerging just ahead of the crucial GST Council Meeting on Wednesday. This along with a proposed cut in food and beverage items to...
India’s Manufacturing Sector Activity Hits New High In August
NEW DELHI: Indian manufacturing sector witnessed the fastest improvement in operating conditions in over 17 years in August, driven by an increased production efficiency and healthy demand conditions, a monthly report said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers’ Index (PMI) rose from 59.1 in July...
SCO Can Become A Guide To Inclusive World Order: PM Narendra Modi
NEW DELHI: The member states of the Shanghai Cooperation Organisation (SCO) agreed to a Chinese proposal to set up a new development bank, and in their joint declaration, issued after the summit concluded on Monday, opposed unilateral coercive measures and vowed to facilitate trade within the group. In his...
India’s Current Account Deficit Narrowed To 0.2% Of GDP In Q1 FY26
MUMBAI: India’s current account balance slipped into a deficit of $2.4 billion, or 0.2 per cent of gross domestic product (GDP), in the April–June quarter (Q1) of 2025–26 (FY26). In contrast, it had posted a surplus of $13.5 billion (1.3 per cent of GDP) in the January–March quarter (Q4)...
