NEW DELHI: The Insurance Amendment Bill, which proposes 100 per cent FDI in the insurance sector, may be introduced in Parliament in the upcoming monsoon session, sources said. The draft bill is ready and will be placed before Cabinet for its approval soon, sources said, adding, after Cabinet nod...
NEW DELHI: While the direct trade between India and Pakistan is miniscule, Indian goods worth $10 billion reach the western neighbour annually through indirect channels, according to estimates by the Global Trade Research Initiative (GTRI). To get around trade restrictions, goods are routed through ports in Dubai, Singapore and...
NEW DELHI: The government has notified the Goods and Services Tax Appellate Tribunal (Procedure) Rules, which provide for mandatory e-filing of applications and conducting hearings in a hybrid mode. The rules also provide that any urgent matter filed by an applicant before 12:00 noon shall be listed before the...
NEW DELHI: India has made significant progress in reducing poverty, with extreme poverty — measured at $2.15 per day in purchasing power parity (PPP) terms — falling from 16 per cent in 2011–12 to 2.3 per cent in 2022–23, according to the World Bank. The decline lifted 171 million...
NEW DELHI: India could allow foreign companies to take a stake of up to 49 per cent in its nuclear power plants, three government sources said, as New Delhi draws up plans to open up its most guarded sector to help achieve goals to cut carbon emissions. The government...
NEW DELHI: India’s economy could expand by 6.5% in the current financial year, supported by falling crude oil prices and manageable inflation levels, despite global trade tensions rising and the international economy slowing down. The EY’s latest Economy Watch report released on Friday outlined four key global factors shaping...
LONDON: A 25% U.S. tariff on pharmaceutical imports would increase U.S. drug costs by nearly $51 billion annually, boosting U.S. prices by as much as 12.9% if passed on, a report commissioned by the industry’s U.S. trade group and reviewed by Reuters shows. The analysis, conducted by Ernst &...
NEW YORK/WASHINGTON: US Treasury Secretary Scott Bessent has said he expects India to strike the first bilateral trade deal to avoid President Donald Trump’s reciprocal tariffs, according to the New York Post. A 26 per cent ‘reciprocal’ tariff on Indian exports to the US is currently on a 90-day...
NEW DELHI: Private investment in India remains a worry and continues to be muted in areas that can boost the economy’s productivity, such as products and machinery, said Krishna Srinivasan, director of the Asia and Pacific department at the International Monetary Fund (IMF), at a press conference. “We are...
NEW DELHI: Pakistan’s decision to stop all trade with India including those passing through its territory from third countries would bring the already minuscule direct trade between the two countries to a complete halt. The impact of Thursday’s announcements would also be felt on Afghanistan’s exports to India. “The...
NEW DELHI: The government has commenced a process to monetise large parcels of prime land owned by state-run BSNL, which it seeks to revive and has seen several rounds of fresh fund infusions in recent years. The National Land Monetisation Corporation (NLMC) has invited applications for valuation of the...
NEW DELHI: While-collar hiring in India continues to be at a fast clip, with March figures being a solid 38% higher on year, with big support from the manufacturing sector (up 78% on year and 12% on month). Over the six months to March, such hiring across sectors grew...
MUMBAI: Inflation is expected to be well aligned to the Reserve Bank of India’s (RBI) target of 4% in the current financial year, helped by cooling crude oil prices, said governor Sanjay Malhotra in the minutes of monetary policy committee (MPC) meeting, which was released on Wednesday. With inflation...
NEW DELHI: India’s private sector output grew at its fastest pace in eight months in April amid a sharp rise in new business, particularly “buoyant” international demand for goods and services, said a private survey on Wednesday. The HSBC flash India Composite Purchasing Managers’ Index (PMI), compiled by S&P...
NEW DELHI: Amid the ongoing tariff war and uncertainty over the US trade policy, international agencies have cut India’s growth projections by up to 0.5 percent for the current fiscal, though the country will continue to be the fastest-growing major economy. India is expected to grow in the range...
NEW DELHI: The prohibitive tariffs imposed by the US on solar imports from Cambodia, Vietnam, Malaysia and Thailand may open new opportunities for Indian solar manufacturers to expand their businesses, according to industry players and experts. However, with Indian domestic manufacturing capacity just about to become sufficient to cater...
NEW DELHI: For the manufacturing sector to grow at a rate faster than the broader economy, and raise its share in the gross domestic product (GDP), a fresh set of policies would be required, in addition to the ones that are tried like production-linked incentives, industry executives and experts...
NEW DELHI: India and the US have finalised the terms of reference outlining the roadmap for negotiations of the proposed Bilateral Trade Agreement (BTA), according to a statement issued by the US. US Trade Representative (USTR) Jamieson Greer said that these ongoing talks will help achieve balance and reciprocity...