Page 41 - Indian Economy

Several APAC economies like India, Korea could face higher US tariffs: S&P

S&P Global Ratings on Monday said several Asia-Pacific economies could face higher tariffs under the Trump administration, while India, South Korea, and Thailand could be most vulnerable to trade retaliation. In its report titled 'Asia-Pacific Economies Likely To Be Hit By US Trade Tariffs', S&P said economies like Vietnam, Taiwan, Thailand, and South Korea have relatively greater economic exposure to the US, meaning that tariffs, if imposed, would have the largest economic impact. "India and Japan have more domestically oriented economies that will provide some mitigation from tariffs," S&P said. US President Donald Trump has said he will impose reciprocal tariffs on its trading partners, including India. The new US administration has already enacted additional 10 per cent tariffs on imports from China and 25 per cent tariffs on steel and aluminum. "We believe this might not be the end of it. Uncertainty is high because of the high leeway the US administration gives ...

Centre working in tandem with states for economic growth: Piyush Goyal

The Centre is working in tandem with all states to make India a USD 30-35 trillion economy by 2047, Union minister Piyush Goyal said on Friday, as he highlighted the investment opportunities in the country. The Commerce and Industry Minister, speaking at the Invest Kerala Global Summit (IKGS) here, sought to woo investors and will soon start talks with Bahrain for a Free Trade Agreement (FTA). There are "unmatched opportunities for growth, development and economic opportunities" in the country, Goyal said. "We are working in tandem with all states," on taking the country's economy to USD 30-35 trillion by 2047 from the current USD 4 trillion, the minister emphasised. There are differences between the BJP-led Centre and the Kerala government, which is headed by the Left Democratic Front (LDF) on various issues. Against this backdrop, Goyal said he is here to show solidarity with Kerala and also mentioned about various strides made by the state in different sectors. He urged invest

India must push 'zero for zero' strategy to address US tariffs threat: GTRI

India should propose a 'zero-for-zero' tariff strategy to the US for addressing America's proposed reciprocal tariff hikes, as it would be less harmful than negotiating a full bilateral trade agreement, economic think tank GTRI said in its report on Friday. Under this strategy, the Global Trade Research Initiative (GTRI) suggested the government identify tariff lines (or product categories) where India can eliminate import duties for American imports without harming domestic industries and agriculture. In lieu of that, the US should also remove duties on a similar number of goods. India can exclude most agriculture items from this list and to prepare it, India can refer to its Free Trade Agreement (FTA) tariff offers to Japan, Korea, and ASEAN as a starting point, it added. GTRI Founder Ajay Srivastava said this list should be discussed with the US before April, ahead of its reciprocal tariff announcement. It will be like doing a quick FTA in goods and if the US accepts, the ...

Govt removes caste, income restrictions for free coaching under PM-CARES

The government has introduced an updated scheme to provide high-quality coaching to children covered under the PM CARES scheme along with students from Scheduled Castes (SCs) and Other Backward Classes (OBCs). Originally launched during the Sixth Five-Year Plan, the free coaching scheme has undergone multiple revisions over the years to enhance its effectiveness. The latest update extends its benefits to PM CARES beneficiaries, removing caste and income-related restrictions for these students. Under the scheme, students will receive coaching for a wide range of competitive examinations, according to the guidelines of the updated scheme. These include Civil Services examinations conducted by the Union Public Service Commission (UPSC) and State Public Service Commissions, as well as officer-grade recruitment tests for banks, insurance companies, and public sector undertakings (PSUs). Additionally, the scheme covers entrance exams for premier institutions in fields such as engineerin

Uday Kotak expresses concern on excessive financialisation, protectionism

He emphasized the need for India to improve productivity, avoid excessive protectionism and increase manufacturing as a percentage of GDP

Economy on recovery path, rate cut to boost demand, says RBI report

Commenting that economic momentum is poised to be sustained, the report said strong rural demand is expected to receive a further fillip from the robust performance of the agriculture sector

US reciprocal tariffs to have limited impact on Indian economy: S&P

S&P Global Ratings on Wednesday said the impact of the US reciprocal tariff will be limited on India as the economy is domestically oriented with less reliance on exports. YeeFarn Phua, Director, Sovereigns and International Public Finance Ratings, Asia-Pacific S&P Global also said India will clock a 6.7-6.8 per cent GDP growth over the next two years. He said the fiscal 2025-26 budget will boost growth for the next few years, largely by domestic demand through tax cuts for households and GDP growth is now normalising to a more "sustainable level". "The government remains very much focused on investment-led growth and also on agriculture sector reforms. However, we do think that economic expansion in India is startling to normalise towards a more sustainable level after real growth had averaged 8.3 per cent over the last three years post-pandemic. "Right now, we anticipate that consumer spending and public investments will maintain real GDP growth at around 6.7 to 6.8 per ...

Confident of Indian economy thriving in coming decades: Qatar's Amir

Highlighting the importance of renewable energy cooperation, the Amir underscored its role in shaping future strategies between the two nations

Vietnam endorses sweeping reforms to spur economic growth, job market

The vote was passed Tuesday at an extraordinary meeting of the National Assembly in Hanoi

Kharge slams Modi govt, calls Sitharaman's 'good returns' claim ironic

Congress president Mallikarjun Kharge on Tuesday termed as ironical the claim of Finance Minister Nirmala Sitharaman that the Indian economy is giving good returns, and said a "visionless" Modi government has tanked the economy and ruined the lives of Indians. "Nothing can be more ironical than Modi Sarkar's FM saying that our Economy is delivering 'Good Returns', he said in a post on X. Kharge said Rs 45 lakh crore has been wiped out from the Indian stock markets so far in 2025 and Nifty 50 firms have shown the worst quarterly profit growth in five years. "Foreign Investors have sold over Rs 1.56 lakh crore of stocks since October last year, including nearly Rs 1 lakh crore in 2025 itself, which has led to wiping out wealth of small and medium investors," the Congress chief said. "Rupee at 87, means Trade Deficit is sky-high. Imports have risen by 62.21 percent in the last 5 years. The Modi Government's Trade policy is disastrous for India," he said. Drawing a comparison, Kharge

India set to become third-largest economy in world by 2029: Haryana CM

He said that the budget presented by the Central Government will play a crucial role in empowering the four pillars of a developed India: the poor, youth, farmers and women

India delivering 'good returns': FM Nirmala Sitharaman on FII selloff

We are building to be an investor-friendly country, says FM

India's forex reserves climb $7 bn to $638 bn on revaluation effect

The total reserves rose on the back of the rise in foreign currency assets which rose by $6.42 billion to $544.11 billion during the week

NCAER paper recommends states to create independent fiscal councils

Several bodies in the past had recommended a fiscal council for the central government

PM Modi aims to boost investment ties, secure tariff relief during US visit

PM's US visit comes as foreigners have pulled $21 bn from Indian markets since September end, rupee has hit fresh lows, and the nation's $4.1 trillion stock market is Asia's worst performer in 2025

Speedy rebound in growth on strong foundation: FM Nirmala Sitharaman

India's economy is expected to grow by 6.4 per cent in real terms and by 9.7 per cent in nominal terms, according to advance estimates released by the National Statistics Office

Conveyance tops non-food household spending in 2023-24: HCES data

Released by the statistics ministry, HCES data shows that MPCE in rural areas in the 2023-24 period was Rs 4,122. In comparison, the MPCE by urban households was Rs 6,996

Congress leader Chidambaram finds faults with Budget in Rajya Sabha

Chidambaram termed it a "politically-driven budget" with the income tax cut being the "main thrust" of the Budget with an eye on the Delhi Assembly polls

No financial crisis in Puducherry as Centre provided funds: MoS Murugan

Addressing a press conference, he highlighted the BJP's recent electoral success in Delhi and India's economic progress over the past decade

Which road to Viksit Bharat? Charting India's path to development by 2047

Historically, most nations have managed to move only one income bracket higher over the past 80 years