The Union Budget presented by Finance Minister Nirmala Sitharaman received positive feedback from UK businesses and investors for its focus on economic growth, private investment, and policy reforms. Highlights include simplifying FDI conditions, promoting skilling, and fostering a trust-based economic governance approach.
UK businesses ‘encouraged’ by Budget 2025 focus on growth, trust-based approach
Union Minister Piyush Goyal announced that commerce, MSME, and finance ministries will collaborate to identify sectors needing support under the Rs 2,250 crore Export Promotion Mission. This initiative aims to boost India’s exports by providing affordable credit, cross-border factoring support, and assistance for MSMEs to tackle non-tariff barriers. The mission targets sectors like textiles, marine, […]
India’s Budget proposes an Export Promotion Mission and the creation of BharatTradeNet, a digital infrastructure to simplify trade compliance processes and accelerate transactions. The mission aims to assist smaller firms with export credit and support, tackling non-tariff measures, and enhancing domestic manufacturing capacities to integrate with global supply chains.
India’s forex reserves increased by $5.5 billion to $629.55 billion as of January 24, 2025, after a decline of $1.8 billion the previous week. The Reserve Bank of India continues to manage liquidity and prevent sharp rupee depreciation by intervening in the market as necessary.
India needs a new strategic trade roadmap amid shifting global trade dynamics and rising protectionism. The Economic Survey 2024-25 emphasizes reducing trade costs and boosting export competitiveness to enhance participation in global supply chains and increase market share despite ongoing trade tensions.