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India has dropped to seventh in global stock market valuation, overtaken by South Korea and Taiwan. This decline, attributed to sustained foreign fund selling and muted corporate earnings, contrasts with the AI chip leadership of South Korean and Taiwanese firms. Despite a recent Sensex uptick driven by domestic buying, foreign investors remain net sellers, impacting […]

India and the UK are working to resolve outstanding issues, including steel quotas and duties, to expedite the implementation of their bilateral trade agreement. Discussions between Commerce Minister Piyush Goyal and UK Secretary of State Peter Kyle focused on overcoming these sticking points to advance economic engagement and strengthen the partnership.

The government is developing new indices to measure industrial and service sector production in India’s vast informal economy. These will draw from extensive surveys to provide a clearer picture of the unorganized sector, moving beyond proxy methods that distorted data, especially post-pandemic. The new metrics aim to improve policymaking for millions reliant on this sector.

Godrej Industries Group has unveiled its new wealth management venture, Godrej Wealth, aiming for a substantial Rs 1,00,000 crore in assets under management by 2031. This expansion into financial services targets affluent clients with investable assets of Rs 2 crore and above, offering comprehensive services including succession planning and global investments.

Billionaire Uday Kotak urged Indian businesses to invest in the future, highlighting a global lag in AI technology. He cited Google’s massive $80 billion AI infrastructure investment, noting its scale dwarfs India’s entire listed market. Kotak called this a wake-up call for companies to prioritize future growth, especially after the IPL season concludes, emphasizing the

Digital payments are booming as UPI transactions hit 2,320 crore in May, a significant jump from April. This surge reflects a robust 24% year-on-year volume growth. Meanwhile, National Electronic Toll Collection also saw a healthy month-on-month increase in both transaction numbers and value, indicating continued digital adoption across various payment platforms.

GST collections in May saw a modest 3.2% rise to Rs 1.94 lakh crore. While domestic revenue dipped, officials attribute this to a one-off telecom payment in the previous year, asserting underlying consumption remains robust across sectors. Import GST also surged, driven by increased demand for commodities and electronics.

India is reviewing tariff concessions on Scotch and other goods in its trade deal with the UK. This action is contingent on the UK addressing India’s concerns regarding steel quotas and duties. UK Trade Secretary Peter Kyle is set to meet with India’s Commerce and Industry Minister Piyush Goyal to resolve this deadlock.

India and Oman have launched a free trade agreement, enabling concessional or zero tariffs on a vast majority of goods. Oman also offered a food security pact, willing to supply more fertilizer and petrochemicals to India. The agreement includes visa benefits for Indian workers and faster pharmaceutical approvals.