The United States and Iran are scheduled to hold their initial round of talks in Switzerland on Friday, following a ceasefire agreement virtually signed by US President Donald Trump and Iranian President Masoud Pezeshkian.
The Indian government has issued an updated Standard Operating Procedure (SOP) for processing Foreign Direct Investment (FDI) applications, aiming to clear all proposals within 12 weeks, a two-week extension from the previous 10-week target, to ensure a fully paperless and transparent process.
'We thought everything will be back to normal within one month. Now it's four months and still a final solution is miles away.'
Pakistan's skewed foreign reserves got a major boost after Saudi Arabia pledged an additional $3 billion in deposits while extending its existing $5 billion facility for a further three years.
Border trade between India and China through the Lipulekh Pass in Uttarakhand's Pithoragarh district is set to resume this year after a six-year hiatus due to the COVID-19 pandemic.
With inflation comfortably below the Reserve Bank of India's (RBI's) 4 per cent median target and likely to undershoot its 3.7 per cent projection for 2025-26 (FY26), there is room for the monetary policy easing cycle to be sustained, the Finance Ministry said on Monday. The comments, featured in the ministry's Monthly Economic Review for June 2025, assume significance ahead of the Monetary Policy Committee (MPC) meeting of the Reserve Bank of India (RBI) scheduled to begin from August 5.
"The US President's statements are within the framework of efforts to reduce energy prices and gain time to implement his military plans," the ministry stated.
The Cabinet Committee on Security (CCS) has reviewed the evolving situation in West Asia, directing departments to assist Indian nationals affected by recent developments and emphasizing the need for dialogue and diplomacy.
Egypt, Pakistan, Saudi Arabia and Turkey met in Islamabad in what analysts say is the formal opening of a new diplomatic formation that could reshape the post-war regional order. Their immediate goal is a ceasefire; their larger ambition is to ensure that neither Iran nor Israel emerges from this war in a dominant position. Pakistan's foreign minister then flew directly to Beijing and mooted a Chinese role as guarantor of any eventual agreement. Prem Panicker continues his must read daily blog on the Gulf War.
What we are watching is something different: A fog manufactured and maintained by the people who started the war, so that the question of why it was started never has to be answered, observes Prem Panicker in his must read blog on the war in the Middle East.
India's leading agriculture commodity exchange, the National Commodity & Derivatives Exchange (NCDEX), has decided to acquire around a 20 per cent stake in a new commodities and financial derivatives exchange being set up in Sri Lanka, subject to regulatory and governmental approvals. The move aims to deepen NCDEX's footprint in the financial ecosystem of its neighbouring country.
'If the near-term economic pain is absorbed more by those who have the ability and the financial strength to do so, then small and medium enterprises in downstream industries will emerge stronger from the trade imbroglio.'
On July 2, the US Embassy shared data that "it said covered USAID funding in India from 2014 to 2024", including details of implementing partners, objectives, and key accomplishments of each activity undertaken, he said.
The announcement on expansion of CPEC was made following a meeting among Chinese Foreign Minister Wang Yi, his Pakistani counterpart Ishaq Dar and Afghanistan's Acting Foreign Minister Amir Khan Muttaqi in Beijing, according to a Pakistani readout.
A court in Antwerp on Friday cleared the extradition of fugitive diamantaire Mehul Choksi, noting that his arrest by the Belgian authorities on India's request was valid, officials in the know of the development said.
The latest annual report of the finance ministry has disclosed that the agency funded seven projects worth USD 750 million in 2023-24.
In a statement, the Chinese ministry of commerce said that it would file a lawsuit with the World Trade Organisation against the US for its "wrongful practice," the Global Times reported.
China on Tuesday called for a 'comprehensive and lasting ceasefire' between India and Pakistan, urging both countries to properly handle their differences through dialogue.
India is preparing to resume the Kailash Mansarovar Yatra, a pilgrimage to Mount Kailash in Tibet, after a three-year hiatus. The decision comes as part of efforts to improve relations between India and China, which have been strained since a military standoff in 2020. The two countries have also agreed in principle to resume flight services between them.
The finance ministry is of the view that all interests -- direct and indirect -- should be taken into account and that there should not be any threshold for calculating total effective foreign shareholding in a company.
DIPP's proposal is believed to have the support of the ministry of consumer affairs, food and public distribution and was originally mooted by the Forward Markets Commission.
India on Friday said that the United States' administration's information regarding funding in India is 'deeply troubling' and has led to concerns regarding foreign interference in India's internal affairs.
Sections in the US State Department and Pentagon have always felt more comfortable dealing with all powerful Pakistani generals instead of elected civilians, points out Rana Banerji, who headed the Pakistan desk at RA&W.
A panel led by the secretaries of the DEA and the DIPP would conduct a quarterly review on the pending proposals.
Soros, a Hungarian-American political activist, and his organisations like OSF have been accused by the ruling BJP of acting against India's interests. His utterances during the Adani-Hindenburg controversy also drew criticism from the party.
DEA official writes to DIPP suggesting that govt needs to understand what has been left out, and why, in the revised application of the retailer.
With the prediction of an above normal monsoon in 2024, the government is expecting food prices to come down, the finance ministry's monthly economic report for March has said. The report, released on Thursday, said robust foreign inflows and comfortable trade deficits were expected to keep the rupee within a comfortable range. "Further easing of food prices is on the anvil as IMD (India Meteorological Department) has predicted above-normal rainfall during the monsoon season, which is likely to lead to higher production, assuming good spatial and temporal distribution of the rainfall," the monthly report, released by the Department of Economic Affairs, said.
Some real estate companies were using this route to raise funds. Given the stringent conditions for ECBs, these companies would now find it difficult to raise funds.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
The finance ministry on Wednesday reimposed expenditure curbs on ministries and government departments for July-September quarter. There will be no spending restrictions on the ministries of health, rural development, agriculture, MSME (micro, small and medium enterprises) and railways as part of a two-pronged strategy. "The existing guidelines for expenditure control have been reviewed. "Keeping in view the evolving situation arising out of Covid-19 and anticipated cash position of the government, it is felt essential to regulate Quarterly Expenditure Plan (QEP)/Monthly Expenditure Plan (MEP) of specific ministries/departments for July-September, 2021," the Department of Economic Affairs in the finance ministry said in a notification.
Eases regulatory hurdles for Bharti-MTN deal.
India's External Affairs Minister S Jaishankar has expressed concern over information regarding USAID funding in India, calling it "concerning" and hinting at potential "bad faith" activities. Jaishankar asserted that India is looking into the matter and that the country should know who is involved in such activities. He also emphasized the need to expand India's security definition in the digital age, highlighting the influence of technology and narratives on public perception. The statements come amid controversy surrounding USAID funding for certain activities in India, with the US President Donald Trump questioning the agency's funding of voter turnout efforts.
The approvals would be handled independently by administrative ministries of different sectors.
6 locations in New Delhi and 2 in Mumbai were raided.
The government has allowed the Enforcement Directorate to share information about economic offenders with 15 more agencies, including SFIO, CCI and NIA, a move that will expedite nailing of law-breakers. The finance ministry notified changes to the Prevention of Money Laundering Act (PMLA), 2002, on November 22. Through the notification, the Enforcement Directorate (ED), which deals primarily with cases of money laundering and violations of foreign exchange laws, would be able to share data with a total of 25 agencies, including the 10 specified earlier.
The Israeli government on Sunday approved the appointment of Reuven Azar as the new Ambassador to India.
Indians have topped the number of illegal immigrants from Asian countries caught at land, sea, and air checkpoints of the US since 2022.
Debroy is expected to have a role and responsibility similar to the erstwhile chairman of the Prime Minister's Economic Advisory Council
Taiwan's Ministry of National Defense said 30 Chinese warplanes made incursions into its air defense identification zone, or ADIZ, the highest daily figure in more than four months.
India and China on Monday decided to resume the Kailash Mansarovar Yatra as the two sides agreed to take certain people-centric steps to 'stabilise and rebuild' ties.
