Page 108 - Economy

Exporters welcome mandatory APEDA registration for non-basmati rice

Exporters welcomed India's decision to make APEDA registration mandatory for non-basmati rice exports, saying it will aid transparency with minimal cost impact on trade

GST rate cut from 12% to 5% poised to brighten India's art landscape

Auction houses, galleries say the rate cut from 12% to 5% will boost liquidity, attract younger collectors, fuel growth

Smartphone exports surge 39% in August, ICEA refutes misleading claims

ICEA reported that exports increased from $1.09 billion in August 2024 to approximately $1.53 billion in August 2025

Buy oil from any country except Russia: US energy secretary tells India

Wright clarified the US position, stating, 'We wish India would work with us to buy (oil)'

India's software exports race ahead, but listed IT firms fall behind

India's software exports rose 12.7% in FY25, yet listed IT groups saw only 3.8% growth, with market share slipping as unlisted firms and GCCs expand faster

GSTAT rollout from Oct to ease GST litigation and unlock business capital

The GST Appellate Tribunal will begin phased rollout in October 2025 with digital filing, faster appeals, and backlog clearance to ease GST litigation and free up capital

RBI sold $2.5 billion in July, Reer fell to 98.79, lowest since Feb 2019

During the current financial year, the RBI was a net buyer of the greenback only in May, while it remained a net seller in the other three months, April, June, and July

September RBI bulletin: Stage is set for 'virtuous cycle' of investment

Net FDI inflows at 38 month high in July; GST rate cut to lower retail prices, boost consumption

Higher adoption of UPI leads to lower cash demand, RBI study shows

The study, authored by the RBI staff, found that UPI volumes are negatively correlated with cash demand, underscoring its role as a substitute for physical currency

Despite defence pact with Pakistan, India remains Saudi's key trade partner

Saudi-Pakistan defence pact underlines Islamabad's reliance on Riyadh, while India's ties rest on larger trade and diversified remittances

Govt aims to expand trade in energy products with US: Piyush Goyal

India assures US of a bigger role in its energy security, with plans to boost trade in energy and nuclear cooperation, while avoiding mention of Russian oil imports amid tariff tensions

No major rise in insurance sales despite zero GST, say distributors

The industry, however, believes that it is too early to see a proper trend

Punjab cabinet gives approval to OTS scheme to recover pre-GST arrears

The cabinet also gave prosecution sanction against former Punjab minister Sadhu Singh Dharamsot in a corruption case registered by vigilance bureau in 2022

India, Australia sign agreement to promote organic products' trade

Under the mutual recognition arrangements (MRA), both will recognise each other's organic standards and certification systems

India fuel exports surge to multi-year highs on higher refinery runs

Refiners in India, which sources about a third of its crude from Russia, are boosting runs and redirecting surplus barrels abroad

Datanomics: Corn symbolises thorny issues in US-India trade talks

India's corn imports from the US were just $ three million in FY18, accounting for 0.3 per cent of total agricultural imports from that country

Govt notifies additional condition for export of 2nd generation ethanol

The permission, however, is subject to a valid export authorisation and feedstock certification from the relevant competent authority

India's solar module manufacturing capacity to outpace demand in 3 years

CareEdge Ratings projects India's solar module and cell capacities at 200 GW and 100 GW by 2027-28, surpassing demand and shifting focus to exports

Dubai's top Indian jewellery importer cuts volumes 30% as gold prices soar

While import values have increased, volumes have dropped 20-30 per cent as gold prices surged from $2,200-2,500 per ounce to $3,600 within three months

India expects to increase energy trade with US, says Piyush Goyal

Goyal is leading a delegation for meetings in New York with the US side to achieve an early conclusion of a bilateral trade agreemen