The government has greenlit 17 electronics component manufacturing projects, attracting Rs 7,172 crore in investment and aiming to create 11,800 jobs. This initiative seeks to bolster domestic companies’ role in the electronics supply chain, crucial amidst evolving global dynamics. These projects will drive production worth Rs 65,111 crore, covering vital sectors like smartphones, IT hardware,…
Consumer goods sales saw a slowdown in September as shoppers awaited GST rate cuts, impacting FMCG volume growth. While value growth remained steady, home and personal care categories led the decline. Rural India, however, continued to outpace urban demand, with smaller towns showing resilience despite a shift to online channels in metros.
India anticipates a modest benefit from the US lifting tariffs on agricultural products like tea, coffee, and spices. While this creates a more level playing field for Indian exporters, independent analyses suggest limited gains. Larger beneficiaries are expected to be from Latin America, Africa, and ASEAN, unless India enhances its production and export diversity.
Indian exports to the US saw a monthly uptick in October, a positive sign despite hefty tariffs. However, year-on-year figures reveal a notable decline compared to last October. Overall, India’s aggregate exports faced a significant dip, with only a few key markets showing growth, while imports surged due to precious metal purchases.
India’s gold imports surged nearly threefold to a record $14.72 billion in October, driven by robust festive and wedding season demand. This significant increase pushed India’s trade deficit to an all-time high of $41.68 billion. Silver imports also saw a substantial rise, contributing to the overall surge in inbound shipments.
The 16th Finance Commission, led by Arvind Panagariya, has submitted its report for 2026-31 to President Droupadi Murmu. This report outlines the crucial formula for sharing central taxes with states, a process that involved extensive consultations across all states and Union Territories. The commission also reviewed disaster management financing.
The Income-Tax Department is withholding some high-value refund payments due to detected wrongful deduction claims in flagged filings. Legitimate refunds are expected to be cleared this month or by December, while the department is also working to reduce direct tax litigation and has seen a significant increase in appeal disposals.
Dubai Air Show saw Emirates place a massive $38 billion order for 65 Boeing 777-9 jets, boosting its long-haul capacity. This significant deal reinforces Emirates’ status as Boeing’s top customer for the wide-body aircraft. The event also featured other orders and highlighted Dubai’s booming travel sector and growing military interest.
