The escalating trade war between the US and China is expected to benefit Indian exporters in increasing their shipments to the American market, according to experts. Federation of Indian Export Organisations (PTI) President S C Ralhan said that imposition of higher tariffs by the US on China will shift demand towards India, which exported goods worth Rs 86 billion to the US in 2024-25.
Aluminium, one of the major industries in the base metal sector, is moving fast may surpass the tensile strength of steel and share the leading position with steel.
Former HDFC Bank chairman Atanu Chakraborty cites misselling of AT-1 bonds and underperformance as key reasons for his resignation, dismissing personal differences as a major factor.
The idea of back-loading the target of fiscal consolidation is perhaps guided by the government's desire to be prepared for any adverse developments in the coming year, points out A K Bhattacharya.
Around 24 paise will come from borrowings and other liabilities, 10 paise from non-tax revenue like disinvestment, and 2 paise from non-debt capital receipts, the Budget documents showed.
'If you go by the capital expenditure, this is a good defence budget. But we will have to see if the government can keep defence spending at 2 per cent or higher in 2027-2028.'
The government on Friday hiked customs duty on crude and refined sunflower oil to 20 per cent and 32.5 per cent, respectively. According to a finance ministry notification, the basic customs duty on crude palm, soybean and sunflower seed oil has been increased from nil to 20 per cent.
Finance Minister Nirmala Sitharaman on Tuesday announced cutting import duty on cut and polished diamonds and gemstones to 5 per cent while on sawn diamond to nil in order to boost the sector. At present, import duty on cut and polished diamonds as well as gemstones is 7.5 per cent. Presenting the Budget for 2022-23 in the Lok Sabha, Sitharaman also announced that the government will facilitate export of jewellery through e-commerce for which it will implement a "simplified regulatory framework" by June this year.
Stock market is gearing up for an eventful week ahead where key triggers such as quarterly earnings from corporates, the US Fed interest rate decision and the upcoming Union Budget for 2026-27 would grab the limelight, analysts said.
A retired school teacher in Kanpur was allegedly defrauded of Rs 1.57 crore (approximately 150,000) in a sophisticated cyber scam involving impersonations of Mark Zuckerberg and associates of Elon Musk.
Any reduction in the customs duty on smartphone parts in the forthcoming budget will harm India's developing component ecosystem, discourage investment, increase imports, and make local firms uncompetitive, potentially resulting in job losses, think tank GTRI said on Tuesday. India's smartphone industry is a 'Make in India' success story, with 2023-24 production reaching $49.2 billion and exports at $15.6 billion, making smartphones the fourth-largest export after diesel, aviation fuel, and polished diamonds.
New Delhi will substantially reduce tariffs on industrial and agricultural goods while continuing to protect sensitive sectors. Tariffs on some agricultural products that are not traditionally considered sensitive will be brought down to zero, while in the case of relatively sensitive items, duties will be reduced in a graded manner and quotas will be imposed.
Paper sector wants the aggregate GST levies by the Centre and State to not exceed 6 per cent.
India maintains "high" import duties on a wide range of American goods such as agricultural items, drug formulations, and alcoholic beverages, besides imposing non-tariif barriers, a US report has said. A day before announcing reciprocal tariffs, the US Trade Representative (USTR) released the 2025 National Trade Estimate (NTE) Report on March 31.
Skoda Auto Volkswagen India has filed a case against tax authorities over the Rs 11,000 crore (about USD 1.4 billion) show cause notice for alleged customs duty fraud related to the import of cars as completely knocked down units.
'We kept this Budget on a larger plank, rather than on one incident, however serious.'
Of the donations, 48% is in kind -- such as food, clothing, or other household goods -- followed by cash (44%) and volunteering (30%) with non-profits, religious institutions, or community groups.
Hiba Rana, daughter of poet Munawwar Rana, has filed a case against her husband alleging triple talaq, dowry harassment, and assault. The FIR details years of alleged abuse and demands for dowry.
Telecom services providers have urged the Ministry of Finance to suspend the universal service obligation (USOF) till the existing corpus is exhausted. In their Budget recommendations, they have also pressed for an exemption from the service tax on "assignment of right to use natural resources" and the slashing of Customs duty on telecom equipment to zero. The Cellular Operators Association of India (Coai), which represents private sector telecom operators Reliance Jio, Bharti Airtel, and Vodafone Idea, called for abolishment of USOF levy.
India has been on an FTA-signing spree of late. Since 2021, it has signed eight trade agreements, three of which -- with the UK, Oman and New Zealand -- were finalised in 2025 alone.
IndiGo's CEO, Pieter Elbers, announced that the airline has stabilized operations after recent disruptions, focusing on resilience, root-cause analysis, and rebuilding. The airline had to cancel hundreds of flights due to planning issues linked to new pilot duty rules, crew shortages, winter weather and operational bottlenecks.
'We believe the truth is in the middle, and that India is at an important crossroads.'
India finalised a free trade agreement with the UK, its 16th so far as the country aimed at boosting bilateral trade and investments. The other regions and countries with which India has signed such agreements include the four-nation European bloc EFTA, Japan, Korea and Australia.
By 2025, natural gas will comprise 20% of the Indian primary energy basket. Natural gas will substitute crude oil for a host of applications due to its non-polluting and economic nature.
The India-EU free trade deal could help Indian-made cars enter Europe at lower costs and challenge Chinese dominance.
The Indian chemical industry has an output of around USD 80 billion and ranks 12th in the world while the size of the global chemical industry is in the region of USD 3 trillion.
The Swiss government would not object to tennis legend Roger Federer or FIFA President Gianni Infantino intervening to reduce the country's tariff burden after the US slapped a 39 percent import duty on its goods, President Karin Keller-Sutter said.
Delhi Police have implemented heightened security measures in Dwarka, including Uttam Nagar, ahead of Eid-ul-Fitr, following communal tensions sparked by a recent incident. The Delhi High Court has directed the police to ensure a peaceful environment for the festival.
The fiscal tilt towards capex benefits companies in investment-related sectors like capital goods, defence equipment, engineering & construction and metal & mining. The planned cut in revenue expenditure will weigh on companies in consumption sectors like FMCG, consumer durables and retail.
The European Union's (EU's) offer to slash tariffs on 97.5 per cent of Indian chemical exports to zero is set to give India's pharmaceutical and medical device firms preferential access to the European markets.
The total turnover of tyre industry covering 36 companies stood at Rs 22500 crore.
While the surcharge on super-rich would help garner additional income of around Rs 12,000 crore this fiscal on the direct tax side.
'The next two to three weeks will not be decided in Washington.' 'They will be decided in Tehran, in whatever calculation Iran makes about the costs of continued resistance against the costs of appearing to have yielded.'
The Centre is staring at a combined shortfall of up to Rs 1 trillion in excise and Customs revenues in the current financial year (FY23) compared to the Budget estimates (BE), mainly because of duty cuts on edible oil and petroleum products. The government set a target of Rs 3.35 trillion for excise and Rs 2.13 trillion for Customs mop-up for FY23 while presenting the Budget in February. "As excise duty collection is mainly driven by diesel volumes, we might see a clear gap in the level budgeted for FY23, following the reduction in cesses on petrol and diesel in May. We are expecting somewhere between Rs 80,000 crore and Rs 1 trillion dip in excise and customs duty collections," a senior government official told Business Standard.
The aviation regulator stated that the "primary cause" of the disruptions was IndiGo's failure to make "adequate arrangements" to meet the revised staffing, duty-time and rostering requirements under the newly implemented Flight Duty Time Limitations scheme.
Here are the key numbers to watch out for in the Union Budget for 2025-26:
Aviation Minister K Rammohan Naidu said the government has initiated an inquiry into Indigo's mass flight cancellations and will take strict action against the operator to set an example for other airlines.
On the 95th anniversary of Bhagat Singh's martyrdom, Utkarsh Mishra revisits the ideas and philosophy of the revolutionary giant.
Revenue intelligence officers have detected Rs 4,389 crore duty evasion by Chinese smartphone maker Oppo by misdeclaration of imports, the Finance Ministry said on Wednesday. The Chinese company deals in mobile brands -- Oppo, OnePlus and Realme. During an investigation of Oppo Mobiles India Private Limited, a subsidiary of Guangdong Oppo Mobile Telecommunications Corporation Ltd - China (Oppo China), the Directorate of Revenue Intelligence (DRI) has detected Customs duty evasion of around Rs 4,389 crore.
Blue Energy Motors, a Mumbai-based outfit, is set to disrupt the market for two million heavy-duty trucks running on diesel and petrol in the case of routes under 500 km by transforming them into electric.
