Page 286 - Economy & Policy News

Climate promises hang fire as big economies don't warm up to COP29

Indian minister likely to skip summit, which begins today; Trump's shadow looms over climate finance commitments

Retaliatory tariff on European Union: India to firewall local biz

The government's policy decision aims to avoid hurting the local industry by imposing higher import duty on key raw materials or intermediate goods from the trade bloc

Govt plans to integrate Gati Shakti portal with e-Shram database

Integration aimed to reduce skill gap and help nodal agencies plan their workforce requirements better

NFRA likely to propose audit norms for LLPs at Nov 25 board meeting

The meeting will be attended by representatives of the Institute of Chartered Accountants of India (ICAI), which had earlier drafted a Guidance Note on financial statements of LLPs

Russia's First Dy PM to visit India for discussing economic cooperation

Manturov will participate in the plenary session of the Russian-Indian Business Forum in Mumbai on November 11, where the focus will be on expanding economic and business cooperation

Russian oil finds way to Europe; India now biggest exporter of fuel to EU

Europe typically imported an average of 154,000 barrels per day (bpd) of diesel and jet fuel from India before Russia's invasion of Ukraine. This has almost doubled

Global oil prices would have soared if we hadn't imported from Russia: Puri

New Delhi has repeatedly defended its purchases from Russia as necessary to keep prices in check

Onion prices soar in Delhi, Mumbai, Lucknow leaving consumers in distress

The price of onions has risen from Rs 40-60 kg to Rs 70-80 per kg at the wholesale markets

Engineering firms expect pipeline to remain robust amid West Asia crisis

Engineering exports to West Asia countries such as the UAE rose by 50 per cent

Rail freight grows 1.5% in October to 131 million tonnes, shows data

In contrast, the railways had achieved a cargo growth of 8.5 per cent in October 2023

Forex reserves slide for fifth week to more than 2-month low at $682 bn

Changes in foreign currency assets are caused by the central bank's intervention in the forex market as well as the appreciation or depreciation of foreign assets held in the reserves

BS BFSI Summit: Economists prioritise local inflation over Fed policy

Nayar emphasised the importance of local inflation factors like food and rent on inflation expectations

Skill ministry asks states to enrol ITI passouts under PM Internship Scheme

The government aims to skill 10 million youths in India's top companies in five years through the internship scheme

Trump's presidency may benefit India as trade diverts from China: Moody's

Trump is likely to pursue more aggressive immigration policies, including increased deportations, the construction of additional border barriers, stricter visa regulations, and reduced asylum grants

COP29 climate agenda clouded by global trade tensions ahead of summit

Delegates at the conference must adopt the summit agenda by consensus as their first task when the COP29 talks begin on Nov. 11 in Baku, Azerbaijan

Incumbent WTO head Iweala lone contender for top job in Trump era 2.0

During his first term, Trump paralysed WTO's top adjudications court by blocking judge appointments - a status that continues today - and announced tariffs on U.S. imports of steel and aluminum

BS BFSI Summit: Free trade effective in theory, not in practice, says CEA

India need not worry about trade battles driven by climate policies, Nageswaran said in his keynote address at the Business Standard BFSI Summit on Friday

Amnesty scheme for customs, easier taxes on India Inc's Budget wishlist

Industry body FICCI sought the introduction of an "amnesty scheme under customs" as a one-time settlement scheme to clear past dues

India's decision to opt out of RCEP agreement strategically sound: GTRI

"Had India joined RCEP, the situation could have worsened drastically, as it would face zero-tariff imports from China, risking further imbalance," GTRI said

Inflation in India to rise further to 5.81% on rising food costs: Poll

Annual retail inflation as measured by the CPI likely rose a second straight month to 5.81% in October, the highest since August 2023, says Reuters poll