Commerce and Industry Minister Piyush Goyal will hold talks with his British counterpart Jonathan Reynolds on implementation of India-UK free trade agreement, the conclusion of which was announced on May 6 during his visit to London, an official said on Tuesday (June 17). The two-day visit is commencing from Wednesday (June 18). During the visit, … Read more
In a key ruling that could impact several multinational groups operating out of India, the Bombay High Court has allowed a refund of unutilised Input Tax Credit (ITC) to an Indian company for export of engineering and design services to its sister concern abroad. The Court rejected the Revenue Department’s arguments that the two entities … Read more
US President Donald Trump and Japanese Prime Minister Shigeru Ishiba failed to reach an agreement on a trade package on the sidelines of the Group of Seven summit, an outcome that leaves the Asian nation inching closer to a possible recession as the pain of US tariffs hits its economy. “There are still some points … Read more
The compensation cess currently being collected under the Goods and Services Tax (GST) framework may either be absorbed into the basic GST rate or levied as a separate charge once it expires in March 2026, according to DP Nagendra Kumar, former Member of the Central Board of Indirect Taxes and Customs (CBIC). In an interview … Read more
Government sources have told CNBC-TV18 that extra sessions are being held in the India-European Union (EU) Free Trade Agreement (FTA) negotiations with the frequency of meetings having increased from quarterly to monthly. Earlier, CNBC-TV18 had reported that India and the EU look to conclude talks for an early harvest deal by July 2025, like the … Read more
As the July 9 deadline for India-US trade negotiations approaches, former diplomats warn of the risks posed by rushing into an agreement amid the unpredictable and often volatile trade policies under President Donald Trump. While government officials remain optimistic about a “productive” week of talks, experts urge caution, emphasising that India must not compromise its … Read more
Imposing a Merchant Discount Rate (MDR) on UPI transactions is economically unwise, as the ecosystem has benefited more from keeping them free,” says Pranav Gundlapalle, Senior Analyst – India Financials at Bernstein. According to him, “The exponential growth in cashless payments wouldn’t have happened if MDR was applied,” stating that the cost savings from reduced … Read more
Hitendra Dave, CEO of HSBC India believes that Indian economy is becoming less vulnerable to oil shocks over time. Over the past six months, financial markets have faced persistent volatility, and the recent Israeli strike on Iran has added further uncertainty. According to Dave, global events like oil price spikes typically impact India through market … Read more
Israel’s attack on Iran on June 13 has sparked another rise in crude prices, and in India, that means inflation concerns are back on the table. Oil prices jumped swiftly—Brent crude topped $77 per barrel, while West Texas Intermediate (WTI) was close behind. JPMorgan Chase & Co. recently warned that prices could reach $130 a … Read more
India’s foreign exchange reserves rose by $5.17 billion to reach $696.66 billion for the week ended June 6, according to data released by the Reserve Bank of India (RBI) on Friday. This marks a rebound after a $1.24 billion decline in the previous week. The increase was primarily driven by a $3.47 billion rise in … Read more