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New Delhi: The government on Thursday exempted customs duty on select critical petrochemical products for three months till June 30, aiming to cushion domestic industries from supply disruptions triggered by the ongoing West Asia conflict. Describing the move as a "temporary and targeted relief", the Finance Ministry said it will help ensure availability of key inputs, reduce cost pressures and maintain supply chain stability. The measure is expected to cost the exchequer about Rs1,800 crore. ...Read More >
Reliance Industries SEZ refinery will not face new export taxes on diesel and aviation fuel. This exemption stems from judicial pronouncements. The government reintroduced these levies on March 26 to encourage domestic fuel sales. These taxes are reviewed fortnightly. This move aims to manage global energy supply disruptions. Reliance operates two refineries in Jamnagar, Gujarat. The reimposed windfall export taxes on diesel and aviation turbine fuel (ATF) will not apply to Reliance Industries ...Read More >
NEW DELHI: The next six weeks could see at least three of the trade deals finalised by India -- with Oman, the UK and New Zealand -- being operationalised, even as it seeks to ensure a preferential duty advantage in the US, once Washington finalises its strategy after the Supreme Court setback on reciprocal tariffs.Commerce and industry minister Piyush Goyal told reporters that India and New Zealand are looking to sign the free trade agreement (FTA) in the fourth week of April, while talks are u ...Read More >
SRINAGAR: Jammu and Kashmir Chief Minister Omar Abdullah on Thursday said the 1979 agreement between the governments of Jammu and Kashmir and Punjab is a sovereign commitment that must be honoured in letter and spirit and fully implemented. While replying to a supplementary question by BJP MLA Darshan Kumar about compensation, employment for locals, and J&K's 20 percent share of electricity from the Ranjit Sagar Dam project, the CM informed the Assembly today that he would take up the issue wit ...Read More >
NEW DELHI: In a U-turn, the civil aviation ministry on Thursday put on hold its directive for airlines to offer at least 60% seats free of charge. Under intense cost-side pressure since the Iran war began, airlines had warned that this move to curb ancillary revenue would lead to additional fare hikes.The aviation ministry had on March 17 ordered the Directorate General of Civil Aviation (DGCA) to enact rules mandating the same. The regulator had then amended existing rules to implement at least ...Read More >
Defence Minister Rajnath Singh Thursday chaired the second meeting of the Informal Group of Ministers (IGoM), which took stock of a range of issues, including LPG supplies, aviation turbine fuel price hike, and customs duty exemption on 40 critical petrochemical products till June this year. The meeting was attended by Cabinet ministers Nirmala Sitharaman (Finance), Hardeep Singh Puri (Petroleum), Manohar Lal (Power), Jagat Prakash Nadda (Chemical & Fertilisers), S Jaishankar (External Affairs) ...Read More >
New Delhi, April 2: The government on Thursday exempted import of critical petrochemical products from customs duty for three months till June 30, giving relief to sectors like pharmaceuticals, chemicals and textiles, and ensuring supply stability amid the ongoing West Asia crisis. The "temporary and targeted relief" will cost the exchequer about Rs 1,800 crore, but help ensure price stability, continuity in production and supply chain, CBIC Member (Tax Policy), Sanjay Mangal told reporters at ...Read More >
New Delhi: India is looking at preferential market access for its products in the US, commerce and industry minister Piyush Goyal said on Thursday, adding that the country's trade pact with the US is the 'best' as compared to its competitor countries. "Our relations are very robust. We have a deep strategic partnership on several aspects- technology, defence, trade and investments, and our approach is that India should get preferential market access," Goyal told reporters here as one year elaps ...Read More >
New Delhi: Defence Minister Rajnath Singh on Thursday stressed the need for round-the-clock monitoring of the West Asia conflict while calling for a calibrated response to deal with any eventuality to ensure that national interests remain protected. Singh chaired a high-level meeting of the Informal Group of Ministers (IGoM) set-up to monitor the situation in West Asia. In view of the "uncertain situation", the defence minister underlined the importance of round-the-clock monitoring of the situ ...Read More >
The first meeting was held on March 28, when Singh had asked officials to closely monitor the situation and ensure coordinated action while planning for long-term stability. Union Defence Minister Rajnath Singh on Thursday chaired the second meeting of the Informal Group of Ministers (IGoM) in New Delhi, where members reviewed the government's response to the ongoing West Asia conflict. The meeting was attended by key Union ministers, including Finance and Corporate Affairs Minister Nirmala Sit ...Read More >
New Delhi, April 2 (SocialNews.XYZ) Round-the-clock monitoring and calibrated response must for India to stay prepared and deal with any eventuality amid the evolving West Asia crisis, Defence Minister Rajnath Singh said on Thursday. The second meeting of the Informal Group of Ministers (IGoM), set-up to monitor the evolving situation in West Asia and suggest proactive measures for its minimum impact on India, was held under the chairmanship of Rajnath Singh here. The meeting deliberated upon ...Read More >
New Delhi [India], April 2 (ANI): The second meeting of the Informal Group of Ministers (IGoM), set up to monitor the evolving situation in West Asia and suggest proactive measures for its minimum impact on India, was held under the chairmanship of Defence Minister Rajnath Singh at Kartavya Bhawan-2, New Delhi, on Thursday. According to a press release, the IGoM deliberated upon the recent developments at length, and the next steps to be taken by the Government to mitigate any adverse impact ar ...Read More >
New Delhi: Commerce and industry minister Piyush Goyal on Thursday said India is looking at preferential market access for its products in the US and asserted that the country's relations with America are very robust with a deep strategic partnership across technology, defence, trade and investment. The minister also said that India's trade pact with the US is "best" as compared to its competitor countries. "Our relations are very robust. We have a deep strategic partnership on several aspects, ...Read More >
NEW DELHI: In a U-turn, the civil aviation ministry Thursday put on hold its directive for airlines to offer at least 60% seats free of charge. Under intense cost side pressure since the Iran war began, airlines had warned this move to curb ancillary revenue will lead to additional fare hikes.The aviation ministry had on March 17 ordered the Directorate General of Civil Aviation (DGCA) to enact rules mandating the same. Following that, the regulator had amended existing rules to implement at lea ...Read More >
New Delhi, Apr 2 (PTI) Defence Minister Rajnath Singh on Thursday emphasised the need for round-the-clock monitoring of the West Asia conflict and called for a calibrated response to deal with any eventuality to ensure that national interests remain protected. Singh made the comments while chairing a high-level meeting of the Informal Group of Ministers (IGoM) set-up to monitor the situation in West Asia. The meeting was attended by External Affairs Minister S Jaishankar, Finance Minister Nirm ...Read More >
New Delhi, Apr 2 (UNI) Amid growing uncertainty in West Asia, the government on Thursday reviewed India's preparedness and response strategy at a high-level meeting chaired by Defence Minister Rajnath Singh in New Delhi, stressing the need for constant vigilance and calibrated action to safeguard national interests. The meeting, the second of the Informal Group of Ministers (IGoM) set up to monitor the evolving situation in the region, brought together key members of the union Cabinet to ass ...Read More >
New Delhi, Apr 2 : Defence Minister Rajnath Singh on Thursday chaired the second meeting of the Informal Group of Ministers (IGoM) to review the evolving situation in West Asia, stressing the need for round-the-clock monitoring and a calibrated response to minimise its impact on India. The meeting, held at Kartavya Bhawan in the national capital, was attended by key ministers including Nirmala Sitharaman, S Jaishankar, Hardeep Singh Puri, Jagat Prakash Nadda, Manohar Lal Khattar, Prahlad Joshi, ...Read More >
New Delhi, Apr 2 (PTI) The government on Thursday imposed import curbs on all forms of articles of gold, silver and platinum, a move aimed at checking misuse of free trade agreements (FTAs). These restrictions will apply irrespective of any prior contract, irrevocable letter of credit, advance payment, shipment status, or any other commitment, the Directorate General of Foreign Trade (DGFT) said in a notification. Accordingly, the benefit of transitional arrangements shall not be available. " ...Read More >
New Delhi, Apr 2 (PTI) India Inc on Thursday said the government's move to exempt import of critical petrochemical products from customs duty for three months till June 30 is a timely response to supply chain disruptions arising from the West Asia conflict which will provide relief to sectors such as textiles, packaging and pharmaceuticals. Chandrajit Banerjee, Director General, CII, said, "The Government of India's decision to grant full customs duty exemption on 40 critical petrochemical prod ...Read More >
Chennai: It has been a year since the US President announced the 'Liberation Day' tariffs and sent the global economies on a roller-coaster ride till they got some reprieve from the US Supreme Court. The talks for a trade deal with India, which started even before the announcement of the tariffs, still hangs in a limbo. The first shock from Donald Trump came on April 2, 2025, when he announced the reciprocal tariffs on its trade partners. He imposed a 10 per cent tariff on all countries and levi ...Read More >
New Delhi [India], April 2 (ANI): Union Finance Minister Nirmala Sitharaman on Thursday met with Russia's First Deputy Prime Minister Denis Manturov in New Delhi and discussed ways to strengthen bilateral trade and investment ties between the two countries. According to a post on social media platform X by the Ministry of Finance, the meeting focused on expanding economic cooperation and other areas of mutual interest between India and Russia. Also Read | Bengaluru Horror: Man Steps on Wife's ...Read More >
New Delhi, Apr 2 (PTI) Extending moratorium in the WTO on import duties for cross-border electronics transmission for longer period will bring more certainty and predictability to businesses, Commerce and Industry Minister Piyush Goyal said on Thursday. The 14th ministerial conference, which concluded in the early hours on March 30 in Yaounde, the capital city of Cameroon, failed to reach a consensus on the moratorium. "We discussed it amongst the ministers, and we were generally of the opinio ...Read More >
New Delhi [India], April 2 (ANI): Union Finance Minister Nirmala Sitharaman on Thursday met with Russia's First Deputy Prime Minister Denis Manturov in New Delhi and discussed ways to strengthen bilateral trade and investment ties between the two countries. According to a post on social media platform X by the Ministry of Finance, the meeting focused on expanding economic cooperation and other areas of mutual interest between India and Russia. "Union Minister for Finance and Corporate Affairs ...Read More >
New Delhi, Apr 2 (UNI) The India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA) has emerged as a key pillar of bilateral engagement, delivering tangible benefits for businesses, MSMEs, workers, and consumers in both countries, according to a Ministry of Commerce statement here on Thursday. Marking four years since its signing today, this pact is an important milestone in the evolving economic partnership between India and Australia. Since the beginning of the Ind-Aus ECTA in ...Read More >
New Delhi: The Centre on Thursday exempted import of critical petrochemical products from customs duty for three months till June 30. The government, however, aims to give a huge relief to sectors such as pharmaceuticals, chemicals and textiles, among others, and ensure supply stability amid the ongoing West Asia crisis. Crucial chemicals like ammonium nitrate, methanol, and PVC for three months have been waived from import duty, starting April 2. As part of the emergency measure of the governm ...Read More >
New Delhi, Apr 2 (PTI) The India-UK free trade agreement (FTA), signed in July last year, is likely to come into force in the next 30-45 days, Commerce and Industry Minister Piyush Goyal said on Thursday. Goyal held a bilateral meeting with Peter Kyle, UK's Secretary of State for Business and Trade, on the sidelines of the 14th ministerial conference of the World Trade Organisation (WTO) last month in Cameroon. "The United Kingdom is also very pleased at the speed with which the India-UK Free ...Read More >
New Delhi, Apr 2 (PTI) India stood alone at the recently concluded WTO meeting in Cameroon in opposing a China-led proposal on the Investment Facilitation for Development agreement, Commerce and Industry Minister Piyush Goyal said, asserting that it is 'better to stand alone for the right than to be in a crowd just to look good'. The Investment Facilitation for Development (IFD) agreement was first mooted in 2017 by China and other countries that depend heavily on Chinese investments, and count ...Read More >
New Delhi: India is preparing to reduce import duties and, if needed, regulate exports to ensure enough supply of essential goods within the country, as global trade faces disruption due to the ongoing Iran war, according to a Reuters report. Supply Chains Under Pressure The conflict in West Asia has disturbed global supply chains, affecting the movement of key goods such as energy, fertilisers, food items and industrial inputs. Rising tensions have increased freight costs and caused delays, m ...Read More >
New Delhi: The government has marginally exceeded the indirect tax collection target for fiscal 2025-26, an official said on Thursday. The total indirect tax collection, which includes customs, excise and GST, as per Revised Estimates (RE), was pegged at over Rs 15.52 lakh crore for FY26. This includes Rs 2.58 lakh crore from customs duty, Rs 3.38 lakh crore from excise duty, and Rs 9.58 lakh crore from Central Goods and Services Tax (CGST). Without giving actual figures, the official said that ...Read More >
New Delhi: Ceigall India is stepping deeper into renewable energy with a sizeable solar project in Madhya Pradesh. Ceigall Green Energy MP Limited has completed the execution of 15 power purchase agreements with Madhya Pradesh Power Management Company Limited. As detailed on page 1, the agreements cover a total awarded capacity of 130 MW under the Surya Mitra Krishi Feeder Yojana. This marks a significant milestone in the company's expansion into the renewable energy sector. The agreements out ...Read More >
Stay updated with the latest None news, articles, and insights from trusted sources. Explore in-depth coverage and expert analysis on None topics.