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The government on Monday tightened import controls on select categories of platinum jewellery, imposing licensing requirements until April 30, 2026, in an effort to check misuse of free trade agreements (FTAs), particularly with ASEAN nations, PTI reported.The Directorate General of Foreign Trade (DGFT), in a fresh notification, revised the import policy for these platinum jewellery…
India’s gold imports surged nearly threefold to a record $14.72 billion in October, propelled by strong festive and wedding-season demand, government data showed on Monday. Imports stood at $4.92 billion in the same month last year, PTI reported.Cumulatively, gold inflows rose 21.44 per cent to $41.23 billion in April–October, up from $34 billion a year…
The commerce ministry has begun preparing detailed guidelines for the Rs 25,060-crore Export Promotion Mission (EPM) and will start releasing them before the end of November, Commerce Secretary Rajesh Agrawal said on Monday.The government approved the six-year mission on November 12 for implementation from 2025-26, aiming to help exporters navigate global tariff shocks, including the…
Finance Commission submits report to President Murmu (Photo credit- PTI ) The 16th Finance Commission on Monday submitted its report for the five-year period 2026-31 to President Droupadi Murmu, marking a key step in finalising the formula that will determine how central taxes are shared with states, PTI reported.The panel, chaired by Arvind Panagariya, had…
The Income tax department is holding back a chunk of refund payments after detecting wrongful deduction claims in several high-value and system-red-flagged filings, CBDT Chairman Ravi Agrawal said on Monday, PTI reported. Legitimate refunds, he added, should be cleared “this month or by December”.Speaking to reporters on the sidelines of an event at Bharat Mandapam,…
MUMBAI: India must avoid marking progress through “market capitalization ratios or the volumes of derivatives traded,” chief economic advisor V Anantha Nageswaran said. He called upon banks and financial institutions to become bolder, technologically sharper and more willing to take calculated risks.Speaking at the CII Financing Summit 2025, Nageswaran described marketcap and derivative volumes as…
The Reserve Bank of India’s latest export relief package could weigh on the rupee in the near term, with bankers warning that exporters may now delay bringing back their foreign earnings.The measures, announced on Friday, aim to help Indian exporters manage the impact of steep U.S. tariffs but may reduce immediate dollar supply in the…
Dubai’s biennial Air Show opened on Monday with a headline announcement from hometown carrier Emirates, which placed a $38-billion order for 65 Boeing 777-9 aircraft, reinforcing its push to expand long-haul capacity amid record earnings and rising traffic through the city’s East-West hub, AP reported.The new order takes Emirates’ total commitment for the upcoming 777-9…
Arunachalam Vellayan, former Chairman of the Murugappa Group CHENNAI: Arunachalam Vellayan (72), former Chairman of the Murugappa Group and Chairman Emeritus of Coromandel International, passed away on Monday after a prolonged illness, the ₹902-billion Murugappa Group said in an official statement.A fourth-generation member of the Murugappa family and great-grandson of Dewan Bahadur Murugappa Chettiar —…
Nearly one in four Indian enterprises has suffered losses of more than $ 1 million from cyber breaches in the past three years, according to PwC’s latest 2026 Global Digital Trust Insights survey. The exposure is particularly high among large firms, with the report noting that 45 per cent of companies earning $5 billion or…
