Page 173 - Economy
India moves to conserve rare earths, seeks halt to exports to Japan
In a recent meeting with auto and other industry executives, Indian Commerce Minister Piyush Goyal asked IREL to stop its exports of rare earths
 "India moves to conserve rare earths, seeks halt to exports to Japan")
RBI skips 14-day main liquidity operation for third fortnight in a row
RBI holds back 14-day operation for third fortnight, despite ₹3-3.5 tn tax outflows expected, citing adequate liquidity and short-term rate stability
 "RBI skips 14-day main liquidity operation for third fortnight in a row")
Electric two-wheeler firms begin test rides for light rare earth magnets
To use these on their existing models
 "Electric two-wheeler firms begin test rides for light rare earth magnets")
India's retail inflation hit 75-month low in May as veg prices dipped
CPI reading reported at 2.82%, lowest since February 2019
 "India's retail inflation hit 75-month low in May as veg prices dipped")
India drops to 131st spot in WEF Gender Gap index, down from 129 in 2024
The Indian economy's overall performance improved in absolute terms by +0.3 points
 "India drops to 131st spot in WEF Gender Gap index, down from 129 in 2024")
India Inc's ECB filings fell to $2.9 billion in April, shows RBI data
External commercial borrowings eased to $2.91 billion in April from $11.04 billion in March, with Shriram Finance and SMFG India among major ECB filers
 "India Inc's ECB filings fell to $2.9 billion in April, shows RBI data")
Inventories of rare earth magnets may run dry by mid-July, says Icra
ICRA warns that rare-earth magnet inventories for EV motors may run dry by mid-July as China tightens export rules, leaving Indian auto makers facing serious supply disruption
 "Inventories of rare earth magnets may run dry by mid-July, says Icra")
RBI allows STRIPS trading for state government bonds to boost liquidity
STRIPS allow dealers to sell principal and interest payments independently, enhancing liquidity in the state government securities market by enabling distinct trading of these components
RBI skips 14-day main liquidity operation for third straight fortnight
Market participants had expected the RBI to conduct a 14-day variable rate repo auction on Friday on account of the upcoming tax outflows which are seen sucking out rupee funds from the banking system
 "RBI skips 14-day main liquidity operation for third straight fortnight")
Datanomics: India's heatwave crisis at boiling point; economic risks mount
The economic toll is rising too. India could see 34 million of the projected 80 million global job losses from heat stress by 2030
 "Datanomics: India's heatwave crisis at boiling point; economic risks mount")
India's retail inflation dips to over 6-year low of 2.82% in May: Govt data
Cereal prices rose by 4.77% in May 2025, a slight moderation from April's 5.35% rise. Prices of pulses dropped 8.22%, following a 5.23% decline in April
 "India's retail inflation dips to over 6-year low of 2.82% in May: Govt data")
India-EU FTA nears completion, says Goyal; focus now on non-tariff barriers
Piyush Goyal's remarks come just days after he claimed that the FTA between India and the four-nation European bloc will bring stability, predictability, and continuity to businesses in the regions
 "India-EU FTA nears completion, says Goyal; focus now on non-tariff barriers")
At ₹11 trn, India Inc capex pips govt capex in FY25; will the trend last?
India Inc capex: While Reliance Industries saw a flattish capex growth in FY25, it cornered the biggest share in the capex pie in absolute terms
 "At ₹11 trn, India Inc capex pips govt capex in FY25; will the trend last?")
India has 'no basis' to seek WTO consultations on auto tariffs, says US
India had challenged the 25% US tariffs on automobiles at the WTO, claiming they were safeguard measures, but Washington insists they fall outside the Safeguards Agreement
 "India has 'no basis' to seek WTO consultations on auto tariffs, says US")
Jaishankar criticises EU carbon tax, calls CBAM unacceptable for India
External Affairs Minister S Jaishankar raises strong objections to the EU's CBAM policy, citing unfair global standard-setting and implications for developing economies
 "Jaishankar criticises EU carbon tax, calls CBAM unacceptable for India")
Alcohol firms seek clarity as Maharashtra hikes excise duty on spirits
Maharashtra's new excise policy raises spirits prices and introduces grain-based liquor; industry groups await clarity while brewers welcome beer tax exemption
 "Alcohol firms seek clarity as Maharashtra hikes excise duty on spirits")
Cabinet clears Rs 6,405-cr rail projects to ease freight congestion
Projects to improve rail links in Jharkhand, Karnataka and Andhra Pradesh and increase freight capacity by 49 mtpa across coal, steel, cement and petroleum corridors
 "Cabinet clears Rs 6,405-cr rail projects to ease freight congestion")
Ikea plans to enhance sourcing from India to 50%: Swedish minister
IKEA's sourcing basket includes textiles, plastics, and metals, among others, and the company plans to add more items
 "Ikea plans to enhance sourcing from India to 50%: Swedish minister")
Govt asks edible oil industry to pass tax cut benefits to retail users
The government had reduced the Basic Customs Duty (BCD) on crude edible oils-specifically crude sunflower oil, soybean oil, and palm oil-from 20 per cent to 10 per cent on 31 May
 "Govt asks edible oil industry to pass tax cut benefits to retail users")
Naidu eyes AP as green energy hub with ₹14 trn investment pipeline
As Naidu completes a year in office, Andhra Pradesh has attracted ₹14 trillion in investments, led by clean energy, with ₹9.2 trillion already cleared or incentivised
 "Naidu eyes AP as green energy hub with ₹14 trn investment pipeline")