GTRI recommends raising the income tax exemption threshold to Rs 5.7 lakh to account for inflation, simplifying the TDS system, and equalising tax treatment for bank deposits and equities to create a fairer tax system, stimulate savings, and support economic growth.
Budget should raise I-T exemption threshold to Rs 5.7 lakh, simplify TDS: GTRI
India Budget: The Union Budget for FY26 will likely aim to strengthen trade relations with the USA, with a focus on reducing tariffs on US imports. This move comes as part of India’s strategy to boost exports of high-value goods and services, crucial for maintaining trade balance with major markets amid potential global trade conflicts.
Trade winds in Trump regime
9 months ago
Donald Trump assumes the US presidency for a second term today, raising concerns about potential escalations in trade and tariff disputes with key trading partners.
India’s mobile phone exports reached a record $20.4 billion in 2024, driven by strong overseas shipments from Apple and Samsung, marking a 44% increase from 2023. Apple’s exports accounted for 65% of the total, while Samsung contributed 20%. The production linked incentive (PLI) scheme launched in 2021 significantly boosted exports and job creation in the […]
India and the EU will collaborate on developing technologies and securing raw material supply chains to boost economic ties, as discussed by Commerce Minister Piyush Goyal and Maros Sefcovic. The aim includes a meaningful trade agenda, a robust Free Trade Agreement, and addressing non-tariff barriers for mutual business benefits.
The government’s goal of achieving USD 1 trillion in exports by 2030 includes a target of USD 250 billion from the engineering sector, according to Commerce Secretary Sunil Barthwal. He emphasized the importance of infrastructure developments, energy transition, and innovative technologies, encouraging industry players to enhance global competitiveness.
India is not seeking customs duty concessions on over 100 products, including liquor and cigarettes, in the proposed FTA with Oman. While the agreement negotiations concluded, Oman requested revisions on some market access offers. India’s industry urges against extending petrochemical concessions due to competitive disadvantages. Bilateral trade between India and Oman stands at USD 8.94 […]
Stakeholders from 11 countries to discuss business opportunities at Maritime India Conference
9 months ago
Around 7,500 stakeholders from 11 countries, including the US, UAE, and Norway, will participate in the Maritime India Conference. Union Minister Sarbananda Sonowal will address the event. The conference will focus on transforming ports with smart technologies and sustainable practices, accelerating decarbonisation, enhancing maritime logistics, and innovations in shipbuilding and repair. The event aligns with […]
‘Make in India’ complements Bangga Buatan Indonesia
9 months ago
India and Indonesia are enhancing industrial and financial partnerships, aiming to become developed nations by their independence centennials. The ongoing collaborations span various sectors including digital economy, healthcare, AI, manufacturing, and sustainable energy, fostering mutual economic growth and creating alternative industrial hubs in the Asia-Pacific region.
Manufacturers of medical devices have welcomed the move, stating this decisive clarification reinforces the regulatory framework designed to ensure the highest standards of patient safety. Dr Sudhir Srivastava, former Chair of the Medical Device Committee at PHDCCI, said that the decision by CDSCO marks a pivotal step towards reinforcing India’s self-reliance in medical technology.