Page 174 - Economy
India will certainly cross $825 bn exports in FY26: Commerce minister
India's exports of goods and services hit a record $825 billion in FY25, up from $778 billion in FY24. Meanwhile, the World Bank projects global growth at 2.3% in 2025, the weakest in 17 years
 "India will certainly cross $825 bn exports in FY26: Commerce minister")
India, US race to finalise trade deal ahead of Trump's tariff deadline
Trade officials from India and the US met in New Delhi for about a week to discuss issues including greater market access, digital trade, customs rules and technical barriers to trade
 "India, US race to finalise trade deal ahead of Trump's tariff deadline")
India, US move closer to trade deal after a week-long negotiations
India and the US teams discussed issues pertaining to market access, digital trade, and customs facilitation during the week-long deliberations on the proposed bilateral trade agreement, an official said.
 "India, US move closer to trade deal after a week-long negotiations")
E-way bills grow nearly 19% to 122.65 million in May, shows data
E-way bills grew by nearly 19% YoY to 122.65 million in May, reflecting a strong increase in compliance and economic activity. This was the second-highest growth rate after March's record figures
 "E-way bills grow nearly 19% to 122.65 million in May, shows data")
Railway passenger traffic rises 6% in FY25, crosses 7 billion mark
Passenger traffic rose 6% in FY25, driven by growth in both reserved and unreserved categories while revenue rose 50% since FY20 on the back of premium train services
 "Railway passenger traffic rises 6% in FY25, crosses 7 billion mark")
Reduce unclaimed assets: FM Sitharaman to financial sector regulators
At the 29th FSDC meeting, FM Nirmala Sitharaman pushed for swift return of unclaimed financial assets and called for simplified, unified KYC norms across all sectors
 "Reduce unclaimed assets: FM Sitharaman to financial sector regulators")
74% rural households expect income growth in 1 year: Nabard survey
Forecast of 'above normal' southwest monsoon in 2025 that would boost farm growth and rising consumption demand in rural India has fuelled the positive change in the rural sector
 "74% rural households expect income growth in 1 year: Nabard survey")
Equity MF inflows hit 13-month low in May despite market recovery
Systematic investment plan inflows hit a new high in May, but rising redemptions and cautious investor sentiment pushed net equity MF inflows to a 13-month low
 "Equity MF inflows hit 13-month low in May despite market recovery")
World Bank keeps India growth forecast unchanged amid trade uncertainty
"India would maintain the fastest growth rate among the world's largest economies, at 6.3 per cent in FY26," the World Bank said in its report
 "World Bank keeps India growth forecast unchanged amid trade uncertainty")
Mospi mulls frequent expenditure surveys to track consumption patterns
The last base year revision for these key macro-economic indicators undertaken by MoSPI kicked in from January 2015
 "Mospi mulls frequent expenditure surveys to track consumption patterns")
FTA negotiations: European Union relents on raw material supply clause
Bloc earlier wanted India to commit to uninterrupted supply
 "FTA negotiations: European Union relents on raw material supply clause")
Centre nudges states to implement new labour codes, shifts reform goalpost
During 2019-20, Parliament consolidated 29 labour laws into four codes - Code on Wages; Code on Social Security; Occupational Safety, Health and Working Conditions Code; and Industrial Relations Code
 "Centre nudges states to implement new labour codes, shifts reform goalpost")
India Inc to double capex to $850 billion in 5 years, says S&P report
Power & transmission, airline companies to lead investment drive
 "India Inc to double capex to $850 billion in 5 years, says S&P report")
India-EFTA trade pact to boost stable, predictable business ties: Goyal
Under the pact, India has received an investment commitment of USD 100 billion in 15 years from the grouping while allowing several products such as Swiss watches, chocolates
 "India-EFTA trade pact to boost stable, predictable business ties: Goyal")
No declining trend in FDI, India seeing renewed inflows: Piyush Goyal
Over the last eleven financial years (2014-25), India attracted FDI worth $748.78 billion, an increase of 143 per cent over the previous eleven years (2003-14)
 "No declining trend in FDI, India seeing renewed inflows: Piyush Goyal")
India May inflation likely cooled to 3% as food price pressure eases: Poll
RBI which targets inflation in the middle of its 2-6 per cent range in the medium term, also shifted its policy stance to 'neutral' from 'accommodative'
 "India May inflation likely cooled to 3% as food price pressure eases: Poll")
Gig workforce in India to grow to 62 mn by 2047: Labour ministry study
India's gig and platform workforce is set to reach nearly 62 million by 2047, accounting for 15 per cent of the total non-agricultural workforce, driven by technology and flexible work trends
 "Gig workforce in India to grow to 62 mn by 2047: Labour ministry study")
Two neighbours, two futures: India's rise amid Pakistan's mounting woes
India and Pakistan are charting opposite courses, with New Delhi rising in global influence while Islamabad battles economic turmoil and diplomatic isolation, according to World Bank
 "Two neighbours, two futures: India's rise amid Pakistan's mounting woes")
From non-negotiable to liberal: India sets agri tariff tiers for US
Concessions unlikely on grains; approach lenient towards almonds, blueberries
 "From non-negotiable to liberal: India sets agri tariff tiers for US")
Imports under FTAs can be cleared under the provisional assessment
Rajagopalan answers readers' SME queries related to GST, export and import matters
 "Imports under FTAs can be cleared under the provisional assessment")