In a decisive move to expand its technological prowess, Adani Group has earmarked an impressive $2-2.5 billion for strategic acquisitions within the defence sector over the next two to three years. This ambitious initiative underscores the group’s commitment to enhancing capabilities in unmanned systems, small arms, missile technology, and indigenous artillery. The group has strategically … Continue reading Adani Group’s $2.5 Billion Defence Takeover—Revolutionizing India’s Military Tech
Diesel Demand Plummets Amidst Extreme Heat, Sales Decline by 4% in June
NEW DELHI: The sweltering heatwave sweeping across India has precipitated a notable decline in diesel demand, with sales plummeting by 4% in June, according to preliminary data from state-owned enterprises released on Monday. Traditionally, fuel sales experience a surge during election periods; however, this year has defied historical trends, witnessing a consistent month-on-month decline even … Continue reading Diesel Demand Plummets Amidst Extreme Heat, Sales Decline by 4% in June
India Slips in Global Gender Gap Rankings; Iceland Maintains Top Position— WEF
The latest Global Gender Gap index from the World Economic Forum (WEF) reveals a mixed picture for India. Despite a steady rise in its economic parity score over the past four years, India has dropped two places to 129th position, while Iceland continues to dominate the rankings, as reported on June 12. In the South … Continue reading India Slips in Global Gender Gap Rankings; Iceland Maintains Top Position— WEF
India’s Economic Renaissance— Unveiling the 2024-25 Growth Prospects
In the latest monetary policy assessment, the Reserve Bank of India (RBI) has revised its GDP growth forecast for the fiscal year 2024-25 upwards to 7.2%, from an earlier estimate of 7%. Concurrently, retail inflation is expected to decline to 4.5%, down from an average of 5.4% last year. This adjustment underscores a cautiously optimistic … Continue reading India’s Economic Renaissance— Unveiling the 2024-25 Growth Prospects
GST Council Poised to Alleviate Burdens of Inverted Duty Structure on Key Sectors
The GST Council is poised to address the significant challenges posed by the Inverted Duty Structure (IDS) which has profoundly impacted sectors such as textiles, fertilizers, and leather. This intricate issue, characterized by higher duties on inputs compared to outputs, has led to the problematic accumulation of input tax credits (ITC), creating substantial cash flow … Continue reading GST Council Poised to Alleviate Burdens of Inverted Duty Structure on Key Sectors
Strategic Insights from CII President Sanjiv Puri—A Roadmap for India’s Economic Future
In a compelling discourse, Sanjiv Puri, President of the Confederation of Indian Industry (CII), underscores the imperatives for the upcoming budget to bolster rural capital expenditure and invigorate consumption amidst prevailing economic challenges. Addressing Businessline, Puri emphasized the critical need for the Modi 3.0 Government to prioritize public infrastructure investments, with a substantial focus on … Continue reading Strategic Insights from CII President Sanjiv Puri—A Roadmap for India’s Economic Future
India’s Booming Demand— A Lifeline for Global Steel Amidst China’s Market Slump
Steel prices continue to experience downward pressure, driven primarily by waning demand in China, a situation anticipated to persist. Analysts highlight that this trend has been ongoing since the start of the year, and recent figures underscore the extent of the decline. As of October, steel hot-rolled coil (HRC) futures have plummeted to $519.50 per … Continue reading India’s Booming Demand— A Lifeline for Global Steel Amidst China’s Market Slump
India Engages with EU on CBAM Levy Mitigation Strategies
As India and the European Union (EU) prepare for their eighth round of Free Trade Agreement (FTA) negotiations in Brussels from June 24 to 28, discussions on the Carbon Border Adjustment Mechanism (CBAM) have taken center stage. The CBAM, a regulatory measure by the EU, seeks to impose a ‘fair’ price on carbon emissions associated … Continue reading India Engages with EU on CBAM Levy Mitigation Strategies
Chief Minister Appointed as Permanent GST Council Member
PANJIM: In a significant governmental reshuffle, Chief Minister Pramod Sawant, who also holds the portfolio of Finance Minister, has been appointed as the permanent representative of the State in the Goods and Services Tax (GST) Council. This decision marks the end of Minister Mauvin Godinho’s six-year tenure as the State’s representative, a role he assumed … Continue reading Chief Minister Appointed as Permanent GST Council Member
SIAM Calls for Major GST Cuts to Boost India’s Two-Wheeler Market
In a strategic move underscored by an urgent online report, the Society of Indian Automobile Manufacturers (SIAM) has formally appealed to the Ministry of Heavy Industries for a reduction in the Goods and Services Tax (GST) on two-wheelers. This industry body has advocated for a more nuanced tax structure, differentiated by the fuel types powering … Continue reading SIAM Calls for Major GST Cuts to Boost India’s Two-Wheeler Market