India's tariff structure has been rationalised, reducing the average customs rate from 11.65% to 10.66%, aligning it more closely with ASEAN countries. This move aims to enhance the competitiveness of Indian industry and improve the perception of India’s tariffs globally. Efforts to simplify GST rates are ongoing with a focus on consensus building.
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Revenue secretary Sanjay Malhotra's transfer to Mumbai has left a key position vacant weeks before the Union Budget. This isn't unprecedented, but the new appointee will need to quickly grasp complex tax issues. The situation is further complicated by recent leadership changes within the finance ministry, with several secretaries experiencing their first budget preparation.
India and Indonesia discussed the potential sale of BrahMos missiles, highlighting local defence production expansion and bilateral cooperation. PM Narendra Modi and Indinesia President Prabowo Subianto committed to fighting terrorism and enhancing defence collaboration.
India is discontinuing medium- and long-term options of its gold monetisation scheme due to evolving market conditions. From March 26, 2025, only short-term deposits will be accepted based on commercial viability. This move aims to reduce financial commitments and mitigate risks from gold price fluctuations. Existing deposits will remain intact until maturity.
Ankura Hospitals, a Hyderabad-based healthcare provider, has secured funding of Rs 165 crore from the Asian Development Bank to support its expansion plans. The strategic investment will enhance its facilities and healthcare services across India, particularly in pediatric, maternity, and gynecology care. Ankura currently operates over 1500 beds across 14 hospitals in multiple states.
India is on track to meet the WHO recommendation of one doctor per 1,000 people by 2030, currently having a ratio of 1:1,263. This target can be achieved with a steady licensing of 50,000 doctors annually. Growth in medical colleges has facilitated this, although there are concerns about their unequal distribution and lack of rural specialists.
The Centre has appointed Vikas Kaushal as the chairman of Hindustan Petroleum Corporation Ltd (HPCL). Kaushal, a former India head of Kearney, is the first private sector individual to head a state-run oil company. His appointment, following a government decision, comes after PESB rejected eight candidates for the post last year.
President Trump has announced new tariffs on imported goods, dubbing it “Liberation Day.†The tariffs target countries including the EU, South Korea, Brazil, and India to spur domestic investment. However, experts warn of higher consumer costs, potential job losses, and strained international relations. Critics remain skeptical of the economic impact.
The Adani Group has increased its offer for sale (OFS) in Adani Wilmar to 20% due to strong investor interest, reducing its stake to 24%. The sale is expected to generate at least Rs 7,150 crore. Wilmar will own 68% of Adani Wilmar post-transaction, and intends to leverage the company's distribution network for its FMCG portfolio.
In 2024, 76% of Spinny's customers in India were first-time buyers of used cars. Women buyers increased to 26%, with many preferring automatic hatchbacks. Top car models included Renault Kwid, Hyundai Grand i10, and Maruti Suzuki Swift. Hatchbacks and compact SUVs saw significant sales. Major cities like Bangalore, Delhi NCR, and Hyderabad led the market.
Indian Railways has announced a Rs 16.7 lakh crore investment plan by 2031 to modernize infrastructure, focusing on station redevelopment, freight corridor expansion, and high-speed rail projects. Private sector involvement is increasing, and significant progress includes the Mumbai-Ahmedabad bullet train and three developing freight corridors. Station redevelopment involves 508 stations, creating substantial business opportunities.