Business

India is formulating an action plan to counter a 50% US tariff hike impacting key exports, Economic Affairs Secretary Anuradha Thakur said. Despite fiscal deficit concerns, the government remains confident in achieving targets amid strong economic fundamentals and domestic demand growth

India’s new Online Gaming Act bans real-money games, raising concerns about jobs, revenue, and digital growth

A US federal appeals court has struck down Donald Trump’s reciprocal tariffs, saying only Congress has the authority to impose them. The ruling offers potential relief for India, though tariffs remain until October 14 pending a Supreme Court challenge

Eight opposition-ruled States support GST rate slab reduction, consumer benefits, and compensation for revenue losses. Congress stresses the council meeting should advance cooperative federalism and fully transfer levies on sin and luxury goods to State

Reliance Jio chairman Akash Ambani introduces "Riya" — a feature similar to Alexa or Siri; will allow hands-free access to calls, music, etc, in multiple Indian languages

Hyundai Motor India's Rs 27,870-crore IPO in Oct 2024 is the biggest initial share-sale, surpassing the Rs 21,000-crore offering by LIC in May 2022

Prime Minister Narendra Modi, in an interview with Japan’s Yomiuri Shimbun, said India and Japan can diversify and balance trade while building new frontiers in semiconductors, manufacturing, and global value chains. He highlighted Suzuki’s Rs 70,000 crore investment and India’s reforms

The government has appointed former RBI Governor Urjit Patel as India’s Executive Director at the International Monetary Fund for three years, replacing KV Subramanian. Patel, who earlier served at the AIIB and IMF, resigned as RBI Governor in 2018

Sensex and Nifty rebounded in early trade on Friday after two days of losses, led by value-buying. Key Sensex stocks gained while FIIs sold equities. India awaits US-India trade negotiations amid the 50 per cent tariff on Indian goods.

The Indian rupee slipped 18 paise to 87.76 against the US dollar on Friday due to persistent foreign fund outflows and US tariffs. RBI interventions and government support measures aim to stabilize currency and mitigate impact on exporters.

The CBI has arrested Airtel’s territory sales manager and two middlemen in Assam for illegally selling ghost SIM cards used in cyber frauds, including digital arrest scams. The arrests followed raids that uncovered incriminating evidence and KYC misuse

Maruti Suzuki India Chairman R C Bhargava called for a united Indian response to 50 per cent US tariffs and welcomed GST restructuring. He expects small car sales to revive with proposed tax cuts and highlighted the need for cleaner, affordable vehicle alternatives

Apple and Samsung have sent cease-and-desist notices to Xiaomi over advertisements mocking their premium smartphones, including the iPhone 16 Pro Max and Galaxy models. The companies argue Xiaomi’s campaigns risk damaging brand reputation in India’s fiercely competitive premium market

Airbus Helicopters has awarded Mahindra Aerostructures a contract to manufacture the main fuselage of its H125 helicopter in Bengaluru, with first delivery in 2027. The deal strengthens Airbus’s ‘Make in India’ plans and expands Mahindra’s aerospace role

Maruti Suzuki has rolled out its first Made-in-India electric SUV, the e-Vitara, from its Gujarat plant, now a global EV hub. Backed by government schemes, India targets 30 per cent EV penetration by 2030 and reduced carbon emissions by one billion tonnes

Maruti Suzuki Chairman R C Bhargava urged Indians to stand united against the US’s 50% tariffs on Indian goods, calling it economic bullying. He also welcomed proposed GST restructuring, expressing hope for reduced tax on small cars to boost consumers

Former US Charge d’Affaires to India Donald Heflin warned that Washington’s broken diplomatic norms and loss of career diplomats are complicating trade talks with New Delhi. While cautiously optimistic about incoming envoy Sergio Gor, he cautioned US unpredictability may strain ties

White House trade adviser Peter Navarro controversially labeled the Ukraine conflict as “Modi’s war,” alleging India fuels Russia’s war machine by buying discounted oil. Navarro defended Trump’s 50% tariffs on India, insisting peace “runs through New Delhi,” drawing criticism for targeting India

Textile, leather, gems, and jewellery stocks fell in Thursday morning trade after the US imposed a steep 50% tariff on Indian goods from August 27, impacting exports worth over USD 48 billion. Broader markets also declined sharply in response

Prime Minister Narendra Modi’s call to the people to buy indigenous goods must be seen as part of government’s efforts to protect the home turf amid tariff tensions

Association of Indian Medical Device Industry says changing GST rates for medical devices could impact domestic competitiveness if not carefully managed

Sensex rebounded 329 points on Monday as IT and auto stocks led gains, driven by global optimism and hopes of a US Federal Reserve rate cut. Nifty rose 98 points, while midcap and smallcap indices showed mixed performance

PM Modi inaugurated hybrid battery production in Ahmedabad and launched EV exports to 100 countries, highlighting India’s clean energy leadership, domestic battery manufacturing, electric mobility growth, and strengthened India-Japan industrial cooperation

Prime Minister Narendra Modi will visit Japan on August 29 for his first annual summit with PM Shigeru Ishiba to strengthen strategic ties, trade, and technology cooperation. The partnership is expected to benefit Africa and the wider Global South through sustainable growth