US Energy Secretary Chris Wright has urged India to reconsider its Russian oil imports, emphasizing the availability of alternative sources and alleging that these purchases fund the war in Ukraine. He highlighted the potential for stronger US-India energy and trade cooperation, stating America’s willingness to sell oil and end the conflict.
Nirmala Sitharaman launched the Goods and Services Tax Appellate Tribunal. It aims to resolve tax disputes and build trust. Hearings will start in December. The tribunal will also handle advance rulings. The goal is to create a fair and efficient system. Appointments to the tribunal have been finalized. This initiative promises ease of living for
The UAE-India Business Council (UIBC) has forged strategic agreements to bolster industry collaboration and expand trade between India and the UAE. These pacts aim to enhance institutional cooperation under the CEPA, boost services exports, and leverage regional strengths. These initiatives are expected to unlock new opportunities and strengthen the economic future of both nations.
RBI’s bulletin highlights that the GST reform is expected to positively impact the Indian economy by improving ease of doing business and boosting consumption. The economy shows resilience with strong domestic demand and moderated current account deficit. Despite global uncertainties, high-frequency indicators suggest optimism for growth in the second half of the year.
India signals potential increase in US oil imports amid pressure to diversify from Russian crude, aiming to strengthen energy security and reduce the trade deficit. Discussions between Indian and US officials are ongoing to finalize a trade deal, addressing concerns like secondary sanctions and reciprocal tariffs. The US expresses strong interest in expanding energy cooperation
India may buy more oil from US, says Piyush Goyal Read More »
The Indian rupee experienced a significant drop against the dollar, despite the dollar’s global weakness, due to concerns over increased US tariffs and H-1B visa fees. This decline has negatively impacted India’s IT sector, although the RBI intervened to manage volatility. Experts anticipate a potential rupee recovery in October, expecting the dollar and rupee to
Rupee hits a new low of 88.80/$, down over 3.5% in this year Read More »
The World Economic Forum predicts a period of weak global growth and disruption, though emerging markets like South Asia show promise. India, despite being the fastest-growing major economy, faces challenges from new US tariffs. Economists anticipate trade disruptions and policy uncertainty will weaken global growth in 2026, while also expecting divergence between advanced and developing
