Senior officials from India's commerce ministry are meeting with commercial representatives from 20 countries to discuss strategies for boosting exports. The focus is on six key goods and services sectors, addressing non-tariff barriers, logistics, and WTO matters. Commerce Minister Piyush Goyal will also participate. India's export-import data reflects a significant trade deficit due to rising imports in November.
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India's foreign exchange reserves dipped below $653 billion, a near six-month low, as of December 13. This marks a $52 billion decrease since September's peak, influenced by RBI interventions, a weakening rupee, and a strong dollar. The rupee hit a record low against the dollar following the Federal Reserve's hawkish stance on interest rates.
Boeing plans to increase its sourcing from India, which currently stands at Rs 10,000 crore annually from 320 suppliers. The company expects to deliver two aircraft per month to Indian airlines over the next two years and is investing heavily in pilot training, MROs, and engineering centers in Bangalore and Chennai.
India's economy is projected to grow between 6.3-6.8% in 2025-26 amid global uncertainties, according to a finance ministry report. The Eco Survey highlights the need for structural reforms and deregulation, emphasizing the significance of rural demand and private investment for growth, despite geopolitical and trade challenges.
The Reserve Bank of India (RBI) may use the cash reserve ratio (CRR) for regulatory intervention instead of liquidity management. The report by SBI suggests the CRR should be a countercyclical liquidity buffer, and a revision of RBI’s liquidity strategy and policy rate framework is needed.
Reliance Industries has inked a significant deal with Russia's Rosneft, securing up to 500,000 barrels of crude oil daily for the next decade. This $12-13 billion annual agreement, confirmed by Reliance, makes Russia India's top crude supplier. The deal, encompassing various Russian crude grades and fuel oil, involves around half of Rosneft's seaborne oil exports.
DeepSeek, a Chinese AI app, has achieved the top spot in Apple's App Store productivity category, surpassing ChatGPT. Founded by Liang Wenfeng, DeepSeek’s R1 AI model is noted for its efficiency and low cost. It’s gaining global attention for its strong performance and has been praised by industry leaders, though some remain skeptical about its development costs.
Stephen Schwarzman of Blackstone believes the new US tariff regime could boost American growth and global consumption. He indicates India is well-placed in tariff negotiations and highlights the necessity of infrastructure investment and streamlined project approvals. Schwarzman remains optimistic about India's long-term economic trajectory despite market fluctuations.
Private equity-venture capital (PE-VC) investments in India ended 2024 at $31.1 billion, the lowest since 2019, with a 5.5% decline from 2023. Despite this, the number of deals surpassed 1,000. The largest deal was Brookfield's $2 billion investment in ATC India.
The Confederation of Indian Industry (CII) urges the government to streamline regulatory approvals through a national single window system, integrate all central ministries, and simplify frameworks to boost ease of doing business. Key proposals include time-bound approvals, faster dispute resolution, and improved land access.
Trump’s 25% tariff on imported vehicles aids Tesla in the US but fails against China’s BYD, which leads global EV sales. Tesla faces backlash abroad due to Musk’s Trump affiliation, impacting its brand. Chinese EV competitors like BYD, XPeng, Nio are advancing rapidly. Future competition hinges not just on tariffs but technological and market dynamics.