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Switzerland will suspend a key tax provision with India from 2025, impacting dividend income for Indian companies operating there. This follows an Indian Supreme Court ruling on the most favoured nati
A group of ministers (GoM) will likely request the GST Council to extend the December 31 deadline for their report on compensation cess by six months. The GoM needs more time to finalize proposals for
Chief Economic Advisor V Anantha Nageswaran emphasized considering upward mobility alongside inequality when analyzing economic progress. He cautioned against fixating solely on inequality, citing a s
French economist Thomas Piketty advocated for a global wealth tax to fund climate reparations, especially for countries like India significantly impacted by climate change. He urged India to lead this
The EU is pressuring India to remove import duties on certain ICT products, utilising its Enforcement Regulation due to a stalled WTO dispute. India faces a February 10, 2025 deadline to respond or p
India aims to become a developed nation by 2047, with the government continuing to prioritize budgetary allocations towards this goal. Capital spending has increased significantly to boost infrastruc
India indicated potential renegotiations of its double taxation treaty with Switzerland following a recent trade agreement with EFTA. This comes after Switzerland suspended the most favoured nation cl
Switzerland's suspension of the most-favored-nation clause in its tax treaty with India will increase taxes for Indian companies operating there. This move follows an Indian Supreme Court ruling and h
French economist Thomas Piketty urged India to increase taxes on its super-rich, citing rising inequality. He proposed a wealth tax and inheritance tax, potentially generating significant revenue. In
India and the UAE held their 15th Joint Commission Meeting, strengthening ties across energy, connectivity, and trade. They discussed the India-Middle East-Europe Economic Corridor and explored long-
In a statement issued on Friday, the National Highways Authority of India said it has introduced new Route Patrolling Vehicles (RPVs) named ‘Rajmarg Saathi’ as part of its incident management serv
The retirement fund body EPFO is upgrading its systems. Subscribers will soon access services like banks. They can withdraw claims using ATMs. This includes amounts up to Rs 7 lakh under the EDLI sche
India's foreign exchange reserves decreased by $3.23 billion to $654.86 billion during the week ending December 6, 2024. The drop was mainly due to a fall in Foreign Currency Assets. Gold reserves r
Fitch Ratings lowered India's GDP growth forecast for 2024-25 to 6.4% from 7%, echoing the Reserve Bank of India's reduced projection. Despite recent mixed indicators, Fitch maintains a positive outlo
India's infrastructure spending has seen a significant boost under the Modi government, targeting Rs 11.11 lakh crore for the current fiscal year. This investment aims to improve connectivity and con
The State Bank of India reports that food inflation has fallen more sharply in wealthier Indian states than in poorer ones over the last decade. Labor migration to wealthier regions is cited as a cont
Manufacturing growth came in at 4.1%, with 18 of the 23 sectors recording expansion. The top three contributors were basic metals (3.5%), electrical equipment (33.1%) and coke and refined petroleum pr
The secretary, department of financial services (DFS), M. Nagaraju, chaired review meetings Thursday with stakeholders, including representatives from Public Sector Banks, the Insolvency and Bankruptc
India and the EU are in discussions for a free trade agreement. Both sides seek a balanced deal. Services trade is a key aspect of the negotiations. The EU acknowledges India's competitiveness in s
"Our nominal growth is around 10% to 11%. So, we should be around Rs 330 lakh crore (around $4 trillion) right now. Simultaneously, the Japanese and German economies are also passing through a very to
Commerce Minister Piyush Goyal assures India's economic growth will rebound. Growth slowed recently due to elections and global factors. Festive spending and infrastructure projects are boosting the
India's GDP growth in the September quarter fell to a seven-quarter low of 5.4%, raising concerns about slowdown and many private economists as well as multilateral institutions have slashed their pro
FICCI President Agarwal urges Indian industries to build robust supply chains. He anticipates consumption growth will rebound. Agarwal notes food inflation's impact on spending. He hopes some of Trum
World Bank Chief Economist Indermit Gill urged India to accelerate structural reforms for its transition to a high-income nation. He highlighted inefficiencies in capital utilisation, talent allocatio
Former Finance Commission chairman Arvind Panagariya suggested India remain open to Chinese investments, except in sensitive sectors, mirroring the approach of countries like the US and Germany. He al
Commerce Secretary Sunil Barthwal advised against excessive import concerns if export shares rise. He emphasized avoiding protectionism and a mercantilist approach, stating imports are crucial for a g
India's Chief Economic Adviser, V Anantha Nageswaran, projected confidence in private sector investments driving GDP growth to 35% over the next five years. He reaffirmed the 6.5-7% real economic grow
India has achieved $1 trillion in cumulative FDI since 2000, driven by a favorable business environment and innovation. The first half of the current fiscal year saw a 26% surge in FDI to $42.1 billio
Former Finance Commission Chairman Arvind Panagariya advocated for India to remain open to Chinese investments, except in sensitive sectors, mirroring the approach of countries like the US and Germany
FICCI President Harsha Vardhan Agarwal anticipates 6.5-7% GDP growth for the current financial year, despite Q2's 5.4% being a "temporary phenomenon." He expects private investment to rise with incre
The government is seeking parliamentary approval for an additional ₹44,143 crore in spending for the current fiscal year. This includes increased allocations for agriculture, fertilisers, and defe
Indian parboiled rice prices held steady this week due to strong African demand, counteracting pressure from new crop yields. Vietnamese prices fell on strong supplies, while Thai prices edged up sli
Commerce Secretary Sunil Barthwal emphasised India's focus on export share growth over import concerns, advocating against protectionism. He highlighted the importance of imports for a growing economy
India's Index of Industrial Production (IIP) grew by 3.5% in October 2024, up from 3.1% in September 2024. This positive growth was driven by strong performance in key sectors like basic metals, elec
India's retail inflation eased to 5.48% in November, down from 6.21% in October, driven by moderating vegetable prices and stabilized edible oil costs. The RBI's Monetary Policy Committee raised infla
The Indian government is considering a 25% safeguard duty on steel imports to address concerns raised by domestic producers about rising imports, especially from China. While over 60% of imports arriv
India's Chief Economic Advisor, V Anantha Nageswaran, stressed cautious energy transition to maintain economic growth and job creation. He highlighted the need to balance climate goals with economic
India's Commerce Minister Piyush Goyal expressed confidence in the country's economic recovery, projecting it to remain the fastest-growing major economy despite a recent slowdown. While acknowledgin
Experts urge a 30% boost in India's infrastructure spending for the upcoming 2025 budget, aiming for ₹18 lakh crore. This increase is crucial to revive GDP growth, with infrastructure investment off
India's edible oil imports surged 38.5% to 1.59 million tonnes in November 2024, driven by increased shipments of crude sunflower and soybean oils. While palm oil imports dipped, the overall vegetabl
Commerce and Industry Minister Piyush Goyal expressed confidence that India's economic growth will recover by the end of the fiscal year, despite global uncertainties. He highlighted positive indicato
India needs a $2.2 trillion infrastructure investment to reach a $7 trillion economy by 2030. Private participation has fallen sharply, necessitating radical measures to boost investment. Increased p
The Indian government has requested parliament's approval for additional spending of Rs 86,730 crore ($10.22 billion) in the current fiscal year. Of this, Rs 44,183 crore will be net new spending, whi
India and Britain will resume negotiations on a free trade agreement by the end of January, according to an Indian government source. Talks, which have been ongoing with interruptions for two years, w
India and the EU are working towards a mutually beneficial Free Trade Agreement, aiming to boost trade and economic ties. Commerce Minister Piyush Goyal emphasised the importance of a balanced deal,
India's states have shown strong economic recovery post-COVID-19, with 25 states achieving over 7% growth in Gross State Domestic Product (GSDP) during FY22 and FY23, according to a PHDCCI report. Amo
The Finance Ministry announced a significant boost in tax refunds for the financial year 2024-25, with Rs 3.08 lakh crore issued between April 1 and November 27, marking a 46.31% increase from the pre
RBI's new governor, Sanjay Malhotra, emphasized policy continuity, stability, and inclusivity. He acknowledged the need for dynamism amidst global challenges and reiterated the central bank's commitm
In a written reply to Lok Sabha, Minister of State for Food and Consumer Affairs B L Verma said, the Department of Agriculture constituted a fact finding committee to look into allegations of irregula
India's labor secretary encouraged businesses to use the new ELI scheme. The scheme offers incentives for hiring more manufacturing workers. It aims to boost formal employment and job creation. Ind
