US jobless claims fell to 233,000 last week, signaling a robust labor market despite economic uncertainties. The Labor Department’s data showed a decrease of 4,000 claims, surpassing analyst predictions. The four-week moving average also declined, reinforcing the stability in employment trends, with the number of Americans receiving unemployment aid remaining steady.
Union Food Minister Pralhad Joshi announced India’s sugar sector has expanded into a Rs 1.3 lakh crore annual industry, crediting policy reforms for driving rural development, energy independence, and green fuel production. Ethanol production capacity has increased more than fourfold in 11 years, reaching 1,810 crore litres annually. Ethanol blending in petrol has risen from…
The Confederation of Indian Industry (CII) advocates for a comprehensive revamp of India’s critical minerals policy, pushing for automatic mining rights for Exploration Licence holders. They also propose viability gap funding and FTA provisions to secure mineral supply chains. CII projects India’s economy to grow at 6.4–6.7% by 2027, emphasizing the need for reforms to…
India’s residential real estate market experienced a broad-based price increase in the first half of 2025, fueled by surging demand for premium homes. NCR and Bengaluru led the gains with a 14% year-on-year increase. While affordable housing sales declined, the overall market remained healthy, driven by strong traction in the mid-premium range.
Prada is set to meet with the Maharashtra Chamber of Commerce to discuss a collaboration on a Kolhapuri chappal-inspired sandal line, following criticism for not crediting Indian artisans. The meeting aims to explore co-branded collections, skill development, and cultural exchange. MACCIA proposes a joint working group and a ‘Prada Artisan Excellence Lab’ to ensure ethical…
The US job market is showing signs of a slowdown, with expectations of only 115,000 jobs added in June, marking the weakest gain since early 2023. The unemployment rate is predicted to rise to 4.3%. Experts attribute this to President Trump’s trade tariffs, hiring freeze, and immigration policies impacting business confidence.
India’s services sector experienced its strongest expansion in ten months in June, fueled by robust domestic demand and increased international sales. The Services PMI Business Activity Index surged to 60.4, driven by new orders and job creation. Despite strong overall performance, optimism among service providers has slightly moderated, with future growth expectations dipping to their…
India and the US are striving to finalize a trade deal before Trump’s July 9 tariff deadline, but disagreements persist over agricultural imports and tariff reductions. While the US seeks greater access for its agricultural products, India is hesitant due to concerns about domestic farmers and genetically modified foods.
CII projects India’s economic growth at 6.4-6.7% for FY26, driven by strong domestic demand, while acknowledging geopolitical risks. The industry body proposes GST rationalization, tax reforms, and infrastructure improvements to enhance ease of doing business. These measures aim to lower costs and attract investment, reinforcing India’s stable growth fundamentals.
ITR filing FY 2024-25: Taxpayers filing ITR-2 and ITR-3 face delays as the Income Tax Department hasn’t released the utilities due to extensive changes in the forms. These forms, applicable for individuals with complex financial profiles, require comprehensive technical modifications. Recognizing the time needed for system readiness, the CBDT has extended the ITR filing deadline…
