The 40 per cent trans-shipment tariff by the US will create major compliance issues for companies in India and the ASEAN region, with high risks for sectors like machinery, electrical equipment and semiconductors, Moody's Ratings said on Tuesday. In July 31, US President Donald Trump announced a 40 per cent tariff on goods deemed to have been transshipped, beyond the broader country-level tariffs.
The Indian services sector growth touched an 11 month high in July, supported by a pickup in new exports orders and sharp rise in overall sales, a monthly survey said on Tuesday. The seasonally adjusted HSBC India Services PMI Business Activity Index was at 60.5 in July, little-changed from 60.4 in June, and the rate of expansion was the best seen since August 2024.
The reduction in goods & services tax (GST) on individual life and health insurance premiums has been called a "landmark step" for making insurance affordable and inclusive. In a panel discussion at the Business Standard BFSI Insight Summit 2025, Anup Bagchi, managing director (MD) & chief executive officer (CEO) of ICICI Prudential Life Insurance; Mahesh Balasubramanian, MD & CEO of Kotak Life Insurance; Tarun Chugh, MD & CEO of Bajaj Life Insurance; and Ratnakar Patnaik, MD of Life Insurance Corporation of India (LIC), listed what else the industry needs to reach more people.
The rationalisation of goods and services tax (GST), announced on Wednesday, directly lowers the cost of everyday medical consumables, and also high-end therapies in oncology and rare diseases, helping reduce out-of-pocket patient expenditure and better adherence to medication.
Karnataka Chief Minister Siddaramaiah met Prime Minister Narendra Modi and insisted on demands pertaining to the state, including on Fair Recovery Price of sugarcane, All India Institute of Medical Sciences for Raichur, the release of flood relief among others.
The Indian services sector growth touched a ten-month high in June aided by robust expansion in international sales and job creation, amid positive demand trends and ongoing improvement in sales, a monthly survey said on Thursday. The seasonally adjusted HSBC India Services PMI Business Activity Index rose from 58.8 in May to 60.4 in June, driven by sharp upturn in new business orders.
'They are totally disconnected with farm activities which their families have been involved in for years.'
After marathon meetings with stakeholders, Mandaviya promises end to Indian football "stalemate"
Amid US-China trade tensions and economic vulnerabilities, India must seize the 'China +1' opportunity, deepen reforms, secure FTAs, and globalise its firms for long-term growth, suggests Ajay Shah.
Hit by inflation, higher input costs and pricing measures, fast-moving consumer goods companies are expected to see a contraction in their gross margin and a modest-to-flat operating profit in the October-December quarter. Several FMCG makers are likely to log a low single-digit rise in their revenue, returning to the cycle of value-driven growth.
Ola Electric on Thursday said it has forayed into the country's Rs 1 lakh crore battery energy storage systems market, which is projected to grow to over Rs 3 lakh crore by 2030.
The Indian government has expressed its disagreement with the IMF staff's 'baseline' assumption that the 50 per cent US tariffs on its goods exports 'would remain in place indefinitely', based on which the staff pegged the country's GDP growth at 6.6 per cent this year, and pared its 2026-27 projection by 20 basis points to 6.2 per cent.
India's manufacturing sector growth fell to a three-month low in May, restricted by inflationary pressures, softer demand and heightened geopolitical conditions, a monthly survey said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) fell from 58.2 in April to 57.6 in May, highlighting the weakest improvement in operating conditions since February.
Homegrown fast-moving consumer goods (FMCG) major Dabur India is set to record low single-digit growth in consolidated revenue in the December quarter, it said in an update on Friday. The maker of Hajmola candy and Real fruit juice said rural consumption continued to be resilient and grow faster than urban in the third quarter.
With the Union Budget three months away, major industry chambers have submitted to the government proposals on common taxes, seeking simpler compliance and a quicker resolution of tax disputes.
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
The January-March quarter (Q4) results for 2024-25 (FY25) from the country's largest passenger vehicle (PV) maker, Maruti Suzuki India (MSIL), were a mixed bag, with revenues broadly in line but operating profit missing Street expectations. Given cost pressures, margins at the operating level were the lowest in the past seven quarters.
The well-fought defensive battles in Aksai Chin and eastern Arunachal, in remote and forbidding locations such as Galwan, Rezang La, Gurung Hill and Walong, effectively halted Chinese advances not once but twice during the campaign. These engagements, fought with grit and without adequate support, were not immediately known to the world in 1962, points out Dr Kumar.
India's merchandise trade deficit widened to a record $41.68 billion in October, as gold imports trebled and outbound shipments registered their sharpest contraction in 14 months, according to data released by the commerce department.
Industry leaders urge India to pursue diplomatic talks with the US, strengthen manufacturing, and consider China ties to gain leverage against tariff pressures.
State governments have requested the Centre for export incentives, lifting of import duty in the case of cotton for the textile sector and GST exemptions.
'The delay is high in India, and even higher in the case of electric vehicles.'
In a development that may encourage increased investment in commercial real estate, the Supreme Court on Thursday gave the industry relief by permitting input tax credit (ITC) on construction expenses for buildings meant to be leased. "If the construction of a building was essential for carrying out the activity of supplying services, such as renting or giving on lease or other transactions in respect of the building or a part thereof, which are covered by clauses (2) and (5) of Schedule II of the CGST (Central Goods and Services Tax) Act, the building could be held to be a plant," said Justice Abhay S Oka and Justice Sanjay Karol.
Indian cricket fans, who love turning up for IPL matches across the country, will have to shell out more for tickets next season with government raising the Goods and Services Tax.
The growth momentum in the Indian manufacturing sector improved in April, with output increasing at the fastest pace since June 2024, on the back of another strong expansion in order books, a monthly survey said on Friday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) rose from 58.1 in March to 58.2 in April, indicating the strongest improvement in the health of the sector for ten months.
'This is not a case of tax evasion but the result of long-standing ambiguities in GST rules and unawareness.'
Leading FMCG companies reported a decline in margins in the September quarter on account of higher input costs and food inflation, which ultimately slowed down the pace of urban consumption. Rising prices of commodity inputs such as palm oil, coffee and cocoa were also accentuated and some FMCG firms have hinted at a price hike. HUL, Godrej Consumer Products Ltd (GCPL), Marico, ITC, and Tata Consumer Products Ltd (TCPL) have expressed concerns over squeezing urban consumption, which according to industry experts forms 65-68 per cent of FMCG total sales.
The government is finalising a major GST overhaul with automated refunds, pre-filled returns, and analytics-based scrutiny to simplify compliance and boost liquidity for MSMEs.
4.5 million weddings are expected across India.
Infosys, HCL, Wipro ramp up fresher intake as AI reshapes skills demand and hiring shifts from 'hire to train' to 'train to hire'.
The Indian services growth broadly steadied in May and was underpinned by healthy demand conditions, new client wins and greater staffing capacity, a monthly report said on Wednesday. The seasonally adjusted HSBC India Services PMI Business Activity Index was at 58.8 in May, marginally up from April's 58.7 and signalled another sharp rate of expansion.
'In case a particular industry has not passed on the benefits and if we receive complaints, we will take up the matter with the industry body concerned.'
Lower rates effectively increase disposable income, strengthen purchasing capacity, and support broader consumption growth.
'We believe that in the new world order FTAs or bilateral trade agreements (BTAs) are the way forward.' 'They are enablers for our participation in global value chains. Today, around 70 per cent of global trade is tied to these chains.'
Reduction of GST on health insurance premium from 18% to 0% looks like a straight 18% reduction in what consumers pay. The truth, however, is...
India's housing market has remained resilient this festival season (Dussehra-Diwali period), despite global macroeconomic challenges, tech-sector layoffs, and affordability pressures, with developers reporting 10-25 per cent year-on-year (Y-o-Y) rise in home sales across major cities.
'In the real world, it's not about being the smartest person in the room -- it's about being the one who stays grounded, adaptable and emotionally steady when everything else shakes,' says Ankita Kaul, a National Board certified health and wellness coach from the Dr Sears Wellness Institute.
The 31st meeting of the Goods and Services Tax (GST) Council, held in December 2018, deferred a decision to reduce the GST rate for cement from 28 per cent to 18 per cent. This was despite recognising that cement - along with automobile parts - remained among the few mass-consumption items still taxed at the highest slab, which was originally meant for luxury and sin goods.
Sharad Pawar and his nephew Ajit, who heads the Nationalist Congress Party, are part of rival alliances in Maharashtra since the latter rebelled against his uncle in 2023 and joined the then BJP-Shiv Sena government.
The Congress party has criticized Prime Minister Narendra Modi's handling of GST reforms, calling them inadequate and demanding an apology for the tax imposed on essential items. They argue that the reforms are merely a 'band-aid' solution and that the government should address the states' demand for extended compensation.
