India’s foreign exchange reserves increased by $5.6 billion to $629.6 billion during the week ending January 24, after seven consecutive weeks of decline. This increase is attributed to revaluation of non-dollar assets, dollar purchases by the central bank, and a rise in gold value, per the Reserve Bank of India.
After falling for seven weeks, reserves rise $5.6 billion in January 24 week
Commerce Ministry withdraws rule for track, trace system for export of drug formulations
9 months ago
The Commerce Ministry has withdrawn the track and trace system for pharmaceutical exports, aligning with the Ministry of Health’s regulatory framework. The Health Ministry has implemented barcode requirements for drug brands from August 2023. This move enhances ease of doing business for exporters while ensuring compliance with international serialization norms, without imposing additional domestic regulations.
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.
Economic Survey: Why local factors are going to be more important for India than global ones from now
9 months ago
The Economic Survey indicated that India’s export growth would face challenges due to global economic uncertainties, particularly in Europe and China. It emphasised that domestic growth levers will play a more critical role for India moving forward, given the fluctuating international trade environment.