Economy
Union Commerce and Industry Minister Piyush Goyal has issued a stern warning to India’s steel industry, urging it to prioritize domestic suppliers and avoid the pitfalls of overdependence on imports. Speaking at the Indian Steel Association’s annual Steel Conclave on September 9, 2025, Goyal criticized the sector for failing to support the indigenous metallurgical coke…
Despite mounting global trade tensions and aggressive tariff regimes, India’s economic growth remains robust, according to a recent report by SBI Capital Markets. Titled “Tariffs Are Made in the USA, But Resilience Is Made in India,” the report highlights how domestic consumption, government spending, and strategic alliances are helping India weather the storm of global…
At the 24th Shanghai Cooperation Organisation (SCO) Trade Ministers’ Meeting held in Vladivostok on September 6, 2025, India raised strong concerns over persistent trade imbalances and the misuse of export controls, calling for a calibrated, transparent, and inclusive approach to global commerce. Representing India, Amitabh Kumar, Additional Secretary in the Department of Commerce, emphasized the…
The State Bank of India (SBI) has projected a modest ₹3,700 crore revenue loss to the central government in FY26 due to the latest Goods and Services Tax (GST) reforms, according to its recent research report. The reforms, approved by the GST Council at its 56th meeting, include a major rate rationalisation that replaces the…
India’s textile industry is poised for a transformational leap, with next-generation GST reforms unlocking new growth potential across the entire value chain—from fibre to fashion to foreign markets. The Ministry of Textiles, in coordination with the GST Council, has rolled out a series of landmark tax rationalisations aimed at correcting structural anomalies, reducing production costs,…
India’s merchandise exports to the United States have already touched 50% of the total value recorded in FY25—within just the first five months of FY26—according to Union Commerce and Industry Minister Piyush Goyal. Speaking at a trade review meeting in New Delhi on September 5, 2025, Goyal emphasized that despite the pressure of elevated US…
India’s consumption-driven economy is poised for a major boost following the rollout of the new Goods and Services Tax (GST) structure, which slashes rates across key sectors including fast-moving consumer goods (FMCG), automobiles, and electronics. Veteran banker and HDFC Vice Chairman Keki Mistry has hailed the reform as a “game-changer,” predicting an immediate uptick in…
In a landmark decision, the GST Council has approved a major overhaul of India’s Goods and Services Tax structure, slashing rates across a wide range of goods and services. Effective from September 22, 2025, the new framework consolidates the existing four-tier system into a simplified two-slab structure of 5% and 18%, with a special 40%…
India’s unincorporated non-agricultural sector has crossed a historic milestone, recording over 13 crore employed workers for the first time in the January–March quarter of 2025, according to the Ministry of Statistics and Programme Implementation (MoSPI). The surge, captured in the newly launched Quarterly Bulletin of Unincorporated Sector Enterprises (QBUSE), reflects a dynamic shift in India’s…
Independent market analyst Anand Tandon has cautioned that the recent surge in US tariffs on Indian exports could weigh heavily on India’s growth trajectory, especially if global demand weakens further. In a recent interview, Tandon expressed skepticism about the sustainability of India’s consumption-led recovery, citing inflationary pressures, uneven income distribution, and limited fiscal headroom as…
