Page 459 - Economy & Policy News

A slowing domestic mobile phone mkt presents challenges to Meity's targets

In spite of PLI incentives, India's gap with China, Vietnam is not fully bridged, leaving a gap of 4-5%. However, if tariffs are brought down, ICEA estimates that exports will go up to $50 bn by FY27

The Red Sea crisis: Commerce department flags rising import cost

The Red Sea strait is vital for 30 per cent of global container traffic and 12 per cent of global trade

Cost of Indian exports more than doubled due to Houthi attacks in Red Sea

Around 80% of India's goods trade with Europe, estimated at nearly $14 billion a month, normally passes via the Red Sea, according to government estimates

Davos 2024: India on cusp of FDI flood, says Bajaj Finserv's Sanjiv Bajaj

'Ten years of this growth we have seen, at least another five years of a strong majority government will end up institutionalising those policies to a fair extent,' Bajaj said in an interview in Davos

Exports marginally up at $38.45 bn in December; trade deficit narrows

Imports declined by 4.85 per cent to $58.25 billion in December last year due to a dip in crude oil shipments

Softer core inflation data drives India 10-year bond yield to 4-month low

U.S. yields eased last week after December producer prices data fell unexpectedly, raising bets of an early interest rate cut by the Federal Reserve

IT services, BPO exports grew over 12% to touch $193 billion in FY23: ESC

The IT software/services chunk accounted for the bulk of this at USD 126 billion, followed by BPO services (USD 52 billion)

Income tax benefits granted to 2,975 recognised startups: DPIIT

'The number of startups getting income tax benefits was 1,100 till March 2023 and now it has increased to 2,975 startups,' Joint Secretary, DPIIT Sanjiv told reporters

Quality workforce, investment in R&D essential to become 'developed nation'

Given the size and scale of our country, we need a large number of quality R&D workforce to drive the science and technology landscape of the country

Will interim Budget 2024 revive demand and investment?

The interim Budget 2024-25 on February 1 will likely see the central government boost investment, while still sticking to the fiscal consolidation path

Govt has remained dedicated to poor in last 10 years, says PM Modi

''The budget of many welfare schemes for the Scheduled Tribes has risen by five times and the scholarship for tribal students has grown by two-and-a-half times in the last 10 years,'' he said

Commerce ministry calls stakeholders' meet on WTO issues on January 20

The 13th Ministerial Conference (MC) of World Trade Organization (WTO) is scheduled from February 26-29 in Abu Dhabi, the UAE

No headway on digital competition law as committee term ends

The panel is looking at various regulatory aspects in dealing with challenges emerging from the digital economy

Strength of next govt's mandate to influence fiscal consolidation: Moody's

Last month, rating agency Fitch said the Modi government is "most likely" to retain power in India and hoped that policy continuity would be maintained

US investments in Indian real estate fell 39% to $1.35 bn in 2023: JLL

Investments from American institutions in Indian real estate market declined 39 per cent last year to USD 1.35 billion amid global uncertainties, according to JLL India

WPI-based inflation increases to 0.73% in December on rise in food prices

Positive rate of inflation in December, 2023 was primarily due to an increase in prices of food articles, machinery & equipment, other manufacturing, other transport equipment

Nine states record higher inflation than India average, shows data

While the average Indian consumer's cost of living rose by 5.69 per cent compared to the previous year, it rose 8.73 per cent in Odisha, 7.07 per cent in Gujarat and 6.95 per cent in Rajasthan

No plans to import wheat, likely to harvest a bumper crop: Piyush Goyal

The country's wheat stocks at state warehouses stood at 16.47 million metric tons as of Jan. 1, the lowest since 2017

Indian economy withstood geopolitical shocks; ready for future challenges

RBI Monetary Policy Committee member Jayanth R Varma pointed out that the monetary policy is now restrictive, supply shocks have dissipated and prices of energy and commodities have corrected

Centre, state, exporters to discuss ways to boost exports on Jan 16

In the meeting, representatives of export promotion councils present their views on the export sector