NEW DELHI: In a significant development for the country’s seafood industry, the European Union (EU) has listed 102 new Indian fishery units for export from India to EU member countries. The move comes amid the backdrop of stiff tariffs imposed by the US, which is expected to hurt the country’s shrimp exports and lead to […]
‘GST cut to ease entry level stress,’ says Godrej Enterprises executive director
MUMBAI: The rejigging of GST slabs will make products more affordable for consumers, easing stress for the entry level market segment, said Nyrika Holkar, executive director at Godrej Enterprises Group (GEG), which is expecting reduction in taxes to give a boost to festive purchases. The move, Holkar said, will also push premiumisation. Availability of financing […]
Big blow for Indian IT soon? Trump administration’s HIRE Act sends jitters; likely 25% tax on jobs sent overseas sparks concern
Industry experts caution that the passage of this Bill could lead to further spending reductions by US clients. The Donald Trump administration’s potential move to impose a tax on jobs outsourced outside the US have sent jitters in the Indian IT sector. The potential introduction of legislation by a Republican senator to impose taxes on […]
Copper policy: India needs to tap more copper reserves; report urges push for mining investment
India must urgently reform its mining policies to attract investment into copper exploration, as demand for the metal surges globally and at home, a new report has cautioned.“Given the rising copper demand across the world and India’s growing copper needs, India must explore and extract more copper, as large resources and reserves lie unexplored and […]
Red sea undersea cables cut: What damaged submarine cables & impacted internet? Here is what experts say
Internet services in parts of Africa, Asia and the Middle East have been disrupted after undersea cables in the Red Sea were cut, highlighting the vulnerability of the global network infrastructure just a year after a similar incident.As the news came to light, many are left wondering as to what may have cut the lines. […]
Textile market: India targets 40 countries to boost apparel exports; FTAs and talks underway
India is looking to expand its textile exports to 40 countries after US imposed 50% tariff on Indian imports, Union minister Giriraj Singh said on Tuesday.The minister said that these 40 countries represent nearly $600 billion in textile and apparel imports, offering vast opportunities for India to enhance its market share. He also added that […]
US job market: Employment numbers weaker than expected in 2024-25; over 911k fewer positions created
The US job market turned out to be much weaker in 2024 and the early part of this year than initially reported, newly released government figures have shown, adding to concerns about the state of the country’s economy. Fresh estimates by the US labour department on Tuesday highlighted that employers hired 911,000 less workers between […]
Wall Street today: US stocks trade mixed as investors await inflation data; Dow jumps over 70 points; S&P 500 flat
Wall Street traded mixed on Tuesday as investors awaited key US inflation figures and an Apple event expected to showcase the launch of new iPhones.The Dow Jones Industrial Average jumped 79 points or 0.17% to trade at 45,594. Nasdaq, on the other hand, slipped 11 points or 0.05%, reaching 21,786. S&P 500 remained flat at […]
Indian marine sector: EU approves 102 more marine units; shrimp exporters to get relief from US tariffs
The European Union has shown green light for exports of 102 additional Indian marine establishments, offering an immediate 20% increase in shipments to the bloc, officials said.The development comes at a crucial time, as seafood exports to the EU stood at $1.1 billion in FY24, cementing the region’s role as a vital market for Indian […]
GST overhaul: Government permits revised MRPs on unsold stock; use of old packaging allowed till December
The government has allowed manufacturers, packers and importers of packaged goods to print revised MRPs on unsold stock under the new GST rules. They have further been allowed to exhaust existing packaging material and wrappers until December. The decision comes amid repeated appeals by consumer goods companies, which had urged the government to allow clearance […]