Current Affair Category: Indian Economy

What are ESG standards UKIIFB celebrated its first year with the release of a report in London. In September 2024, India and the U.K. jointly initiated the program, which is supposed to stimulate investment activity in the Indian infrastructure sector that requires a total of $2 trillion by 2030. In retrospect to the previous project-specific […]

The inverted duty structure (IDS) The inverted duty structure (IDS) under GST has been a long-standing issue for several industries like textiles, bicycles, tractors, and fertilizers. Recently, the GST Council reduced rates on certain inputs to address the inversion problem, bringing some relief. However, gaps still remain, particularly for sectors where input tax rates are […]

On September 3, 2025, the GST Council approved major reforms to the Goods and Services Tax system, representing a pivotal moment in India’s taxation framework.These reforms are expected to improve the overall economic mood and stimulate growth, especially when other engines of growth such as exports and private investments are faltering. Key Highlights of GST […]

Why in the News?  The Goods and Services Tax (GST) Council, in its 56th meeting, announced a major overhaul of the GST tax structure, introducing a simplified two-rate system with a special higher rate for sin and luxury goods. This reform aims to make the GST regime simpler, reduce the burden on common people, boost […]

Why in the News? Singapore’s Prime Minister, Lawrence Wong, has begun a three-day trip to India with the objective of strengthening economic ties between the two nations. This is Wong’s first visit to India as Prime Minister, where he is accompanied by senior cabinet ministers. The visit aims to expand two-way economic engagement and sign […]

Why in the News?  HSBC India’s Manufacturing PMI indicates that India’s manufacturing sector expanded in August 2025 at the fastest pace seen in the last 17.5 years. PMI rose to 59.3 in August 2025 (up from 59.1 in July), the highest since mid-2008. The surge was driven by strong demand, rise in new orders, higher […]

Why in News:  During his visit to Tokyo for the India–Japan Annual Summit, Prime Minister Narendra Modi urged greater investment in India, highlighting the opportunity amid ongoing trade tensions with the United States. Key Points: Japan External Trade Organization (JETRO) India’s Economic Position: Prime Minister Modi stated that India is on track to emerge as […]

Why in the News ?  India has decided to continue the exemption on cotton import duty until December 31, 2025, following the United States’ move to impose a 50% tariff on textile and apparel imports from India. Key Points: Import duty on cotton The exemption had initially been set to expire on September 30, 2025, […]

Why in the News  The Ministry of Commerce and Industry has started discussions with industry players, including leading e-commerce companies and MSMEs, to identify models that can enhance exports. MSMEs are asking the government to allow 100% FDI in the inventory-led e-commerce model to strengthen e-commerce exports. Key Points:Inventory-led e-commerce model The government is exploring […]

Why in the News?  The U.S. government is set to implement an additional 25% tariff on Indian goods starting August 27, 2025, following President Donald Trump’s executive order. This comes on top of the existing 25% tariffs since August 7, making a total of 50% duty on many Indian exports. Tariffs are being imposed partly […]