Latest News, Updates & Breaking Headlines
NEW DELHI: Animal feed, ethanol for fuel, poultry, flowers and tea are likely to be among items on the negative list for import concessions given to the US under the first tranche of bilateral trade deal, for which a joint statement is expected in the next few days, reports Sidhartha.In line with commerce and industry…
Amazon recently announced that it is shutting down its Amazon Fresh supermarket chain. The decision of the company to shut down the Amazon Fresh stores will lead to thousands of job cuts across the US. Last week, the e-commerce major announced that it will close around 60 Fresh stores which will put an end to…
The Reserve Bank’s rate-setting panel began its two-day deliberations on Wednesday, with markets closely watching whether borrowing costs could fall further amid supportive macro conditions and improving sentiment.The six-member Monetary Policy Committee (MPC), headed by RBI Governor Sanjay Malhotra, started discussions on the next set of bi-monthly interest rates against the backdrop of a growth-focused…
BENGALURU: India’s seafood exports to the US are expected to recover after the latter agreed to reduce tariffs, industry body Seafood Exporters Association of India (SEAI) said.The US is the largest export destination for Indian seafood, with shipments valued at $2.7 billion in 2024-25. However, exports were under pressure in recent months, following the imposition…
The United States is preparing to launch a $12 billion critical minerals stockpile initiative aimed at reducing dependence on China for rare earths and other strategic resources, according to a White House official, as Washington intensifies efforts to secure supply chains for key industries, AFP reported.The project is expected to combine about $1.7 billion in…
Shopping overseas? Duty cut feeds import impulse Shopping overseas will cost you less from April as the amount of tax you pay on foreign goods to get them to India is getting reduced. The budget has proposed to lower the tariff rate (basic customs duty) on all dutiable goods imported for personal use from 20%…
Sarees, suits and readymade garments made of Man-Made Fiber (MMF) in addition to premium cotton apparel are set to get a shade cheaper with nominal price reductions. With incentives rolled out for textile manufacturing, some relief is expected from fabric and garment makers in textile and apparel pricing, though the impact is unlikely to be…
The Budget has proposed to reduce the tax collected at source (TCS) for self-funded education and medical purposes abroad under the liberalised remittance scheme from 5% to 2%. However, the TCS rate for other purposes will continue at 20%.Govt had last year exempted remittances for education from TCS where such remittance is from a loan…
NEW DELHI: High railway freight rates arising from cross-subsidisation are distorting competition with road transport, pushing up commodity prices, consumer inflation, and overall logistics costs, the Economic Survey 2025–26 highlighted.Reiterating the proposal in the Electricity Amendment Bill, 2026, the survey recommended the complete elimination of cross-subsidies for railways and the manufacturing sector within the next…
New Delhi: Targeted ‘congestion pricing’ in dense business districts, combined with demand-based parking management, can reduce traffic volume, raise speeds and cut emissions, as seen internationally, according to Economic Survey 2025-26. It has highlighted how such steps have helped authorities in Singapore and London address congestion.Though efforts have been made since 2009 to propose charging…
