Business

Track the latest in business and finance—from market trends and economic updates to startup stories and global trade analysis.

India-US trade deal: Donald Trump administration may cut tariff to below 20%; putting India in favourable position against other countries

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India-US trade deal: United States is working toward an interim trade agreement with India that could reduce proposed tariffs to below 20%. This would give India a more favourable position compared to other countries in the region.Unlike many nations, India is not expected to receive a formal tariff hike notice this week, and the agreement … Read more

Sweeping rate cuts on table at next GST Council meet

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NEW DELHI: The GST Council, which will meet shortly, is expected to comprehensively review the eight-year-old regime focused on reducing tax on several consumer-focused items in the 12% bracket as well as lowering the burden on items such as air conditioners, which are in the top bracket.Besides, with the compensation cess – money released to … Read more

Government offers up to Rs 9.6 lakh worth of incentives on electric truck purchase

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H D Kumaraswamy (File photo) NEW DELHI: Union minister H D Kumaraswamy on Friday launched the first scheme to provide customer facing incentives on purchase of electric trucks of up to Rs 9.6 lakh per vehicle as part of govt’s PM E-DRIVE initiative, which has earmarked Rs 500 crore for electric trucks out of its … Read more

Tesla’s 1st India showroom opens next week

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Tesla will open its first showroom in India on Tuesday and begin deliveries as early as next month, people familiar with the matter said, as the Elon Musk-led electric vehicle maker looks to tap potential demand in the third-largest automobile market to counter slowing sales elsewhere.The opening of the Mumbai showroom will mark the formal … Read more

Rural India shops brands, urban goes beyond labels

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MUMBAI: The grocery bag of urban and rural shoppers is undergoing a divide. Urban Indians are gravitating towards unbranded products in select categories and are also experimenting with new-age brands, while rural consumers are taking to legacy FMCG brands. While there is a big market for unbranded goods in rural, it is losing out to … Read more

Silver hits record high amid supply woes, trade tensions

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HYDERABAD: Breaking out from the shadows of glittering gold, silver hit a record Rs 1,13,000 a kg on MCX late Friday. It came on the back of international prices hit a 13-year high of $37.8/Oz in the spot market and $38.7 in futures, amid rising trade worries after US President Donald Trump returned with reciprocal … Read more

I-T relief: Growth in direct tax receipts dips to 3.2%

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NEW DELHI: Growth in gross direct tax collections moderated to 3.2% in the fiscal year up to July 10, from 4.9% three weeks ago, driven by a slowdown in non-corporation tax. Latest data released by govt estimated gross collections of Rs 6,64,807 crore between April and July 10.Net direct tax collections – which means after … Read more

Trade pact breakthrough: Switzerland ratifies India-EFTA agreement; $100 billion investment and 10 lakh jobs likely

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Switzerland has completed the ratification process for the India-EFTA Trade and Economic Partnership Agreement (TEPA), paving the way for the landmark deal to come into force in October. The pact, signed in March after nearly 16 years of negotiations, aims to significantly reduce trade barriers and enhance investment flows between India and the four EFTA … Read more

Tax collections dip: Net direct tax mop-up falls 1.34% to Rs 5.63 lakh crore as refunds surge; gross receipts rise 3.17%

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India’s net direct tax collections declined 1.34% year-on-year to Rs 5.63 lakh crore as of July 10, dragged down by a sharp surge in refunds, according to government data released on Friday. Gross tax collections — before adjusting for refunds — rose 3.17% to Rs 6.65 lakh crore during the period, reflecting an underlying improvement … Read more