Page 28 - Economy & Policy News

India at risk of 100% US tariff for purchases of Russian crude oil

A revised bipartisan US Senate bill proposes a 100 per cent tariff on imports from the five largest buyers of Russian oil and gas, including India, while allowing presidential waivers

India's female unemployment rate rises to 15-month high of 5.9% in June

India's female unemployment rate rises to a 15-month high of 5.9% in June, while overall unemployment stays at 5.5% amid mixed labour market trends

Medtech firms seek curbs on third-country rerouting under India-UK CETA

Domestic medical device makers have sought stricter Rules of Origin and customs safeguards under the India-UK CETA to prevent third-country rerouting of imports into India

Despite adequate domestic output, India continues to import ethanol from US

India has achieved 20% ethanol blending and boosted domestic output, yet continues to rely on US imports, keeping its ethanol trade deficit elevated

Centre offers 20 critical mineral blocks in eighth auction tranche

The Centre has launched the eighth tranche of critical mineral auctions, offering 20 blocks across nine states as it seeks to strengthen India's strategic mineral value chain

India flags off consignments worth $140 million to UK on Day 1 of FTA

India has operationalised its trade pact with the UK, enabling preferential tariffs from day one and flagging off $140 million worth of exports under the new regime

Govt approves greenfield shipbuilding cluster in Gujarat's Porbandar

The Centre has approved a greenfield shipbuilding cluster in Porbandar and backed a Rs 1,570 crore ship repair facility in Vadinar to strengthen India's maritime manufacturing

India posts $2 bn current account deficit in May as trade gap widens

India recorded a $2 billion current account deficit in May as the merchandise trade gap widened, while the balance of payments registered a deficit of $4.4 billion

Govt invites global bids for 10 gwh manufacturing under PLI ACC scheme

Centre invites global bids for 10 GWh ACC battery manufacturing under the PLI scheme to boost grid-scale energy storage and strengthen domestic production

CCEA clears ₹3,907-cr railway expansion projects in Odisha, Jharkhand

The CCEA has approved two railway expansion projects worth Rs 3,907 crore in Odisha and Jharkhand to enhance line capacity, ease congestion and improve freight movement

Shipping regulator bars deployment of Indians in Strait of Hormuz

India's shipping regulator has again barred deployment of Indian seafarers on vessels transiting the Strait of Hormuz and asked ships to maintain heightened security vigilance

India expects relief in US Section 301 tariff after forced labour curbs

India expects lower US tariffs after aligning forced labour import rules with global standards amid ongoing Section 301 trade investigations

Odisha clears ₹32,000-cr rural infra push ahead of 2027 Panchayat polls

The Odisha Cabinet has approved a ₹32,000 crore package for rural roads, bridges and connectivity, covering 35,000 km of roads and 3,167 bridges over five years

Union Cabinet approves ₹25,000 crore road projects for Varanasi

The Union Cabinet has approved two road corridor projects worth ₹25,445 crore in Varanasi to improve connectivity, reduce congestion and enhance access to key religious and urban destinations

Brics adopts labour declaration, launches India-backed CONNECT platform

Brics labour ministers adopted a joint declaration in Hyderabad and launched the India-backed CONNECT platform to strengthen cooperation on labour, skills and social security

India-UK FTA offers tangible benefits, hope for $100 bn trade: UK official

With the India-UK CETA now in force, both countries expect lower tariffs, stronger business ties and a boost in bilateral trade towards the $100 billion mark

India's first ISP data: Hotels, retail drive services growth in April

The trial Index of Services Production offers a monthly snapshot of India's services economy, with hotels, retail, and administrative services leading growth in April

Govt begins national floor wage exercise. What changes for workers?

The national floor wage is intended to create a common minimum wage benchmark across India while allowing states to account for regional differences

Why India has banned import of goods produced using forced labour

India on Tuesday amended the foreign trade policy to prohibit the import of goods produced using forced labour.

Don't want E20 fuel? Buy 100% petrol, but pay more: Nitin Gadkari

Union Minister Nitin Gadkari defended the Centre's ethanol-blending programme, saying motorists who prefer 100 per cent petrol can buy it, but will have to pay more than for ethanol-blended fuel