Page 121 - Economy & Policy News

India, EFTA trade pact to come into force from Oct 1: Switzerland

Under the pact, India has received an investment commitment of USD 100 billion in 15 years from the grouping while allowing several products

India Services PMI hits 15-year high in August on new orders, output rise

India services PMI: Composite PMI Output Index rose to 63.2 in August from 61.1 in July

Trai's plan for ₹500 satcom levy aimed at rural rollout push 'rejected'

The telecom department will reportedly return the proposal to Trai for review, noting that the suggested ₹500 annual levy on urban satcom users is difficult to implement

'We get along with India very well,' says Trump, but calls trade one-sided

Trump maintained that India imposed duties of up to 100 per cent on various goods, which discouraged US firms from exporting there

Govt spending and exports likely to begin unwinding in Q2, says BMI

BMI said any export front-loading that continued post-June has likely been cut short by the rise in US 'reciprocal' tariffs, first to 25 per cent on July 31, 2025, and then to 50 per cent on August 27

Growth spurt before Donald Trump tariff squeeze: July orders jump 29%

There are no duties on semiconductors, electronics, and pharmaceuticals, among others, according to an August 27 Asia Insights note from Nomura

India extends export obligation for chemical imports to 18 months: Govt

The government remains committed to strengthening the chemicals and petrochemicals landscape through targeted strategies, acknowledging its pivotal role in economic growth

Japan's MOL plans to ramp up India fleet with domestically built vessels

Plans to become India's second-largest shipping firm

Rupee ends at 88.16, pares early gains on importer dollar demand

The rupee gained in early trade on strong equities and trimmed offshore positions but settled at 88.16 a dollar as importer demand offset support from economic data

GST Council meeting on Sep 3-4: Exemption on cards for cancer drugs

Garments and apparel as well as footwear priced above ₹2,500 are likely to attract 18 per cent GST, while those below this threshold are expected to be taxed at 5 per cent, sources said

Govt may line up four schemes to soften Donald Trump's tariff blow

Cabinet likely to take up proposal on Wednesday

Rollout of GST reforms to bring transparent economy: FM Sitharaman

The 56th GST Council meeting, scheduled for September 3-4 in New Delhi, is set to discuss one of the biggest tax overhauls since the GST regime was rolled out in 2017

CMAI warns GST hike on apparel above ₹2,500 to be 'death knell' for sector

CMAI has opposed reports of a GST hike on garments above ₹2,500 to 18%, warning it will hurt middle-class consumers, traditional crafts and an industry hit by tariff wars

Dhar's PM MITRA Park to be India's largest textile hub: CM Mohan Yadav

Madhya Pradesh CM Mohan Yadav said Dhar's PM MITRA Park will transform the state's textile sector, offering incentives to investors, with global brands already showing interest

India, US still in dialogue for bilateral trade deal, says Piyush Goyal

Piyush Goyal said India and the US remain in talks for a trade deal despite tariff frictions, even as India advances free trade agreements with the EU and other partners

Govt seeks WTO consultations with US over 50% tariffs on copper

This move comes after India reserved the right to impose retaliatory duties on select US products in response to American tariffs on steel and aluminium; and auto components

UP approves policy to boost manufacturing of key electronics components

The policy, aligned with the Centre's Electronics Component Manufacturing Scheme (ECMS), will come into effect from April 1, 2025, for a period of six years, according to an official statement

Finance ministry to kick-start FY27 Budget making exercise from October 9

"Pre-budget meetings chaired by Secretary (Expenditure) shall commence from October 9, 2025," according to the Budget Circular (2026-27) of the Department of Economic Affairs

India set for record cotton buying as imports, US tariffs hit prices

India has raised the price at which it will buy new-season cotton from domestic farmers by 7.8% to 8,110 rupees per 100 kg, but local market prices are hovering around 7,000 rupees

Govt may hike GST on luxury EVs, blow for Tesla, BMW, Mercedes, BYD

The panel recommended raising the GST rate to 18per cent from 5per cent currently for EVs priced between 2 million and 4 million rupees ($23,000-$46,000)