Economy News ( English version)

India's trade deficit widened to $21.94 billion in December, with a contraction in exports for the second consecutive month. Imports rose to $59.95 billion. Gold imports saw significant revisions, affecting deficit calculations. Key export sectors faced declines while electronics and garments reported growth. Multiple FTAs are under negotiation.

ICRA stated that the Union Budget 2025-26 will prioritize capital expenditure with a 12-13% increase, while also focusing on fiscal consolidation, job creation, tax relief for individuals, and boosting manufacturing. The fiscal deficit is planned to decrease to 4.5% of GDP by FY26.

USISPF seeks simplification of India's tax structure to reduce industry compliance burden, including tax deduction at source. Recommendations for the upcoming budget include extending concessional rates for greenfield manufacturing, reducing the compliance burden, and introducing a 15% tax for maintenance firms. Proposals also aim to position GIFT City […]

India's diesel exports to Europe have dropped significantly, leading suppliers to shift focus to Africa and Asia. Increased refinery outputs in Europe and the US contributed to the decline. Africa now accounts for the largest share of Indian diesel exports, while overall refined product exports to Europe have decreased, with Asia and the Middle East see […]

India's first e-commerce export hub is set to become operational by March, aiming to boost exports to USD 100 billion by 2030. The pilot launch includes companies like Shiprocket and DHL, with features such as self-sealing and easy reimport policies. Additionally, a new Diamond Imprest Authorisation scheme will start from April 1, promoting duty-free im […]