India Business News
The United Kingdom (UK) and India entered into an historic trade agreement to promote economic, investment and trade cooperation between the two nations. The pact will lower tariffs on various items such as whisky, cars, engineering products and textiles. In the British market, India is likely to receive better access for exports like garments, jewellery and IT services. The experts think that the deal may bring about a great deal of trade and generate job prospects in both countries.
The Agreement is an important step towards realizing India's transition to clean energy, with a massive green hydrogen hub being established in Andhra Pradesh with a $1.3 billion investment from Germany. The goal of the project is to generate green hydrogen and ammonia through the use of renewable energy sources, such as solar and wind power. The hub will be operational by 2029 and will enable India to enhance its export potential to Europe and competitiveness in the international green energy market. The project will also create thousands of jobs and drastically reduce carbon emissions.
After concerns about India's trade deficit and Russian imports of Indian oil, the United States has recently imposed a tariff on India's oil supply and has now imposed additional tariffs on India on a number of products. This ruling could impact big-time export businesses such as textiles, jewellery, auto parts and chemicals. India has been worried about the decision, and has said it will take "necessary steps" to safeguard its economic interests. The tariffs could have an impact on bilateral trade relations between the two countries, experts say.
India and the European Union have signed an agreement to enhance exports, investments and market access, which they consider a landmark free trade agreement. The agreement is aimed at lowering tariffs on more than 90% of traded goods, such as in the textile, automotive, chemical, and technology sectors. The two sides hailed the agreement as a huge step towards fostering economic cooperation and diversification of global supply chains. The agreement has been dubbed the “world’s biggest free trade market” for the years to come by experts.
The Union Budget 2026-27 emphasized the need for increased manufacturing, infrastructure, MSMEs, green energy, and digital innovation to support India's economy. The Union government announced increased capital spending and new initiatives for startup promotion, farmers and small businesses. The target of 4.3% of GDP has been maintained for fiscal deficit, and investment in technology and development projects has been high. Other budget highlights included job creation, ease of doing business and long-term economic growth.
The Digital India BHASHINI Division has signed an agreement with the Reserve Bank of India (RBI) for the launch of AI-based multilingual banking services in all 22 scheduled Indian languages. The goal of the program is to advance the practice of making banking and financial services more accessible to people by eliminating language and literacy barriers. The agreement will entail both entities working together to create “Banking BHASHINI,” a specialized AI language model for the financial sector. The transaction will help in strengthening digital inclusion and enhancing banking accessibility for millions in India, it was said.
India's huge LPG shortage gets compounded by the volatility in the LPG supply and rising international LPG prices foreseen due to West Asian tensions. Some States are facing problems in cylinder delivery, queues and skyrocketing prices of commercial cooking gas. This crisis has hit homes, restaurants and small industries, and many have been forced to rely on firewood and other sources of fuel. The government has assured to implement measures to stabilize supplies and prices during the emergency period.
Union Budget 2025, presented by the Finance Minister Nirmala Sitharaman, the emphasis was on the growth of the economy, infrastructure, agriculture and relief of the middle class. One of the highlights was that the new tax regime will have zero income tax for people with an income of less than ?12 lakh. The government also boosted capital spending in the roads, railways, healthcare and digital development sectors to boost the economy. The focus was particularly on MSMEs, job creation and technology innovations.
"Finance Minister Nirmala Sitharaman presented the Union Budget 2019-20 of Modi 2.0 government on July 05, 2019 at 11:00 AM
According to the Economic Survey, India needs to sustain a real time GDP growth rate of 8% in order to become a US$ 5 trillion economy by 2024-25
According to the Economic Survey, India is set to grow between 7-7.5 per cent in the 2018-19 (April-March) with exports and private investment poise
Arun Jaitley Will Present Union Budget At 11 am
According to CIO Jury, 75% of the tech leaders are planning to move more systems to the cloud in the year 2018 for cost savings and convenience. As per a recent survey, IT budgets are going to increase in the year 2018 and companies are going to spend money in the cloud. The only concern factors are regarding the security, cost concerns and reliability. Just because of these factors many companies are afraid of taking the next step.
