Page 168 - Economy & Policy News

India, EU push for early harvest trade pact amid ongoing FTA talks

Piyush Goyal travelled to Brussels on May 23 from Washington, while India's chief negotiator L Satya Srinivas and his team are already at the EU headquarters for the FTA negotiations.

Bustling Petrapole border belies faltering India-Bangladesh trade

Cross-border trade is quietly dwindling amid strained ties between the two neighbours

RBI dividend may cut fiscal deficit to 4.2% of GDP in FY26: SBI report

SBI says higher-than-budgeted dividend from RBI gives government room to lower FY26 fiscal deficit to 4.2 per cent of GDP or increase spending in key areas, amid strong liquidity and BoP outlook

54 per cent of Maharashtra's GSDP comes from only 7 districts: Govt report

The report submitted to the 16th Finance Commission revealed that 18 districts have a growth rate less than 0.8x of the GSDP expansion rate and per capita income below average state income

Labour reforms by states have limited potential, defeat purpose: Experts

At least 20 states and UTs have amended their laws and increased the threshold for retrenchment without government approval from 100 to 300 workers

India's forex reserves fall $4.9 bn due to decline in gold holdings

India's foreign exchange reserves dropped by $4.9 billion to $685.7 billion in the week ended May 16 due to a sharp $5.1 billion decline in gold reserves

India's marine exports jump 18% in April amid US tariff clouds

Price escalation due to the baseline tariff of 10 per cent imposed by the US on all exports from India will be adjusted by the market in the next few months, a senior official said

RBI dividend: Jalan panel recommendations hold strong, minor tweaks needed

The source said the dividend transfer so far has been calculated based on the Bimal Jalan-panel's ECF recommendations and certainly the time to review the framework has come

Forex reserves decline $4.88 billion to $685.72 billion, shows RBI data

The forex reserves had swollen by $4.55 billion in the previous week, which had pushed the total reserves to $690.617 billion. The country had reached a record high of $704.885 billion in Sep 2024

India may soon allow US, foreign companies to bid for govt contracts

The government is likely to allow US firms to bid for contracts worth over $50 billion, mainly from federal entities, as it negotiates a trade deal with Washington.

Piyush Goyal meets US commerce secretary to discuss proposed trade pact

On May 20 also, Goyal held a meeting with Lutnick to expedite the talks on the first phase of the trade pact.

Tariff uncertainties pose growth risks, says RBI Governor Sanjay Malhotra

The governor said India's domestic growth is supported by stable policies, healthy corporate balance sheets and strong macroeconomic fundamentals that bode well for the economy.

Private sector business activity rises to 13-month high in May: PMI data

Companies attribute growth to 'buoyant demand, investment in technology and expanded capacities'

India to surpass China in oil demand growth over next decade: Moody's

Rising economic growth and industrialisation, along with the government's heavy investments in infrastructure that will enhance accessibility and mobility, will drive demand growth for transportation

'Omanisation' last key issue in concluding India-Oman FTA talks: Official

Omanisation is a policy implemented by Oman to boost the employment of its citizens in the private sector. The policy mandates companies to meet specific quotas for hiring Omani nationals

Outward remittances under LRS fall 6.85% to $29.56 billion in FY25

RBI data shows LRS outflows dropped to $29.56 billion in FY25 due to weak income growth, rupee depreciation, and lower transfers for education and close relatives

Indian refiners eye Iranian crude oil as US-Iran nuclear talks progress

Plans to resume crude oil imports had been shattered in the wake of multiple airstrikes between Israel and Iran in April last year

'Early tranche' of trade deal between India, US may be sealed soon

First phase might include a tariff reduction and focus on the priority non-tariff barriers faced by exporters

Rupee depreciates to over one-month low as FPIs sell equities

Rupee falls to 86/$ for the first time since April 11 amid equity outflows and stop-loss orders, while bond yields ease on expectations of RBI's surplus transfer

UK to give non-discriminatory treatment to India in procurement under FTA

On May 6, the two announced conclusion of negotiations for the FTA. It will be implemented next year