In 1999, World Link, a magazine published by the WEF, included Naidu, then chief minister of undivided Andhra Pradesh, in its global "dream cabinet"

A source in the industries department said that to make things easy for prospective investors, the state government is planning to develop a three-layer system to give clearance to these proposals

Union minister G Kishan Reddy on Monday said the Centre will soon launch the National Critical Mineral Mission (CMM) to enhance domestic production, reduce import dependence, and encourage offshore mining auctions, while urging states to cooperate for sustained mining activities. Reddy made the remark after inaugurating the 3rd National Mining Ministers' Conference in Konark, in the presence of Odisha Chief Minister Mohan Charan Majhi, Bihar's deputy CM Vijay Kumar Sinha, Telangana deputy CM Bhatti Vikramarka Mallu, and other dignitaries and industry leaders. "The mission will soon get Cabinet approval. Union finance minister had announced about it in her budget speech. Import duty on critical mineral has also been made zero," Reddy said. Lithium, cobalt, copper, nickel and rare earth elements are known as critical minerals which are essential for manufacturing defence equipment and key technologies. Stating that India has already made a place in the global platform on critical ...

Here's looking at how the last two terms panned out

A recent Geological Survey of India study has indicated the presence of lithium a widely used metal in the production of glass, aluminum products and batteries in some districts of Odisha, a senior GSI official said on Sunday. Lithium reserves have earlier been found in parts of Karnataka and Jammu and Kashmir, he said. As such there is no major finding, but there are some indications of lithium presence (in Odisha). We are in a very preliminary stage, and therefore, should not make any claim. However, speaking geologically, some indications are there in the Eastern Ghat belt like in Nayagarh, Deputy DG of GSI Pankaj Kumar said. Kumar was speaking on the sidelines of a GSI meeting here ahead of the two-day National Mines Ministers' Conference in Konark, which commences on Monday. If Lithium is found in Odisha, it can pave the way for the establishment of electric vehicle manufacturing units in the state, an official said. Speaking to reporters, Union Mines Secretary V L Kantha R

Commerce and Industry Minister Piyush Goyal has said that India would work with the European Union to develop cutting-edge technologies and secure critical raw material supply chains to strengthen economic ties. These issues were discussed during a meeting between Goyal and Maros Sefcovic, European Commissioner for Trade and Economic Security on January 18-19 in Brussels. The two leaders also agreed to build a commercially meaningful trade agenda and work towards a mutually beneficial Free Trade Agreement (FTA). The commerce and industry ministry in a statement on Sunday said that India would build a commercially meaningful trade agenda with the EU, which is fair and equitable, addressing the tariff and non-tariff barriers through simplification and cost competitiveness for benefits of businesses from both sides. "India would work together with the EU for developing cutting edge technologies, secure critical raw material supply chains and build resilient supply chains- reducing ...

The government's target of USD 1 trillion export includes USD 250 billion from the engineering sector, Commerce Secretary Sunil Barthwal said here on Sunday. The government has set a target to achieve USD 1 trillion export from India by 2030. "India is known for leather, textile and traditional sectors but engineering sector in India which includes automobiles, equipment etc is almost close to 25 per cent of the total exports. Tomorrow when India is looking at USD 1 trillion of exports, USD 250 billion of exports we are expecting from the engineering industry," Barthwal said. He was addressing a conference of construction equipment manufacturers. "This is the ambition that we have taken which is based on ground reality. It is based on the fact that how the middle class is growing, the government focus on infrastructure development within the country, focus on development of ports, airports, railway modernization, broadening of roads," Barthwal said. Secretary said that Prime Minis

Tamil Nadu Finance Minister Thangam Thennarasu on Sunday criticised the Centre for not releasing sufficient funds to the state despite the government's prudent management of its finances. He also claimed that the state's borrowings are within the limits prescribed by the Finance Commission. Minister for Finance and Environment & Climate Change said the comments made by AIADMK General Secretary Edappadi K Palaniswami that the state finances are in the doldrums were wrong, and added that the opposition party leader should not make such comments in a public forum. "The 15th Finance Commission in 2021-22 prescribed the borrowing limit to 28 per cent but our borrowings were at 27.01 per cent and again in 2022-23, the Finance Commission prescribed 29.3 per cent but our borrowings were at 26.87 per cent, below the limit prescribed by the Commission," Thennarasu told reporters here. "Similarly for the year 2024-25, that is last year, the Finance Commission fixed the borrowings limit to ...

Not only that, CMs like Devendra Fadnavis, Chandrababu Naidu, and Revanth Reddy are also expected to hard-sell their states at the grand venue

Economic reformers should not remain beholden to free-market ideologies, corporate lobbies, or the sentiments of fickle stock markets

India's current economic environment is conducive for private investments with the country emerging as a "bright spot" amid the challenging global environment, according to a CII survey. The pan-India survey is an ongoing initiative, which would be completed for 500 firms by the first week of February. The interim results are based on a sample of 300 firms spread across all industry sizes (Large, Medium and Small). Notably, early results reveal that about 97 per cent of the sample firms are likely to increase employment in both 2024-25 and 2025-26. In fact, 79 per cent of the respondents' firms said that they added more people over the past three years. The CII survey, which was conducted over the past 30 days, suggests that 75 per cent of the respondents believe that the current economic environment is conducive to private investments. "Given that 70 per cent of the firms surveyed said that they would invest in FY'26, an uptick in private investments might be on the cards over th

India is not seeking customs duty concessions on over 100 product categories such as liquor, and cigarette in the proposed free trade agreement (FTA), which is under negotiations between the two countries, sources said. They also said that though the FTA negotiations were concluded, Oman has sought revision of its market access offers on some products. The two sides have discussed three to four issues flagged by Oman, and any potential changes would be minimal, they said. India is expected to gain greater market access for about 98 per cent of its goods in Oman, along with significant access to the services sector. "There could be about 125-130 tariff lines (or product categories), where we have not asked for duty concessions and that included goods like liquor, and cigarettes," they added. On January 14, India and Oman held the fifth round of talks for the agreement, which is aimed at boosting bilateral economic ties. The negotiations for the agreement, officially dubbed as ...

India and New Zealand should address market access issues for goods, promote collaborations in key sectors, and work on improving connectivity with an aim to boost bilateral trade, which is just USD 1.5 billion, think tank GTRI said on Sunday. Both countries should set a target to double two-way trade within five years by identifying products for early tariff relief and organizing business delegations and roadshows in India, it said. It also said that India's proposed free trade agreement with New Zealand would have limited benefit to domestic companies as they are already enjoying duty free access to a significant number of goods in that market. New Zealand's average import tariff is just 2.3 per cent, compared to India's 17.8 per cent. Besides, 58.3 per cent of New Zealand's tariff lines (or product categories) are duty-free, meaning Indian products already enjoy significant access without a trade pact in the New Zealand market, the Global Trade Research Initiative (GTRI) said.

Goyal is on a visit to Brussels for a High-Level Dialogue with Maros Sefcovic from January 18-20

NITI Aayog member and renowned economist Arvind Virmani on Saturday said he has revised his GDP growth projection for India on the lower side for FY'25 due to rising global uncertainties and risks, particularly from the United States and China. Virmani, who had earlier predicted a GDP growth in the range of 6.5-7.5 per cent, adjusted the projection to 6.5-7 per cent now with high probability of it being sub-7 per cent, amidst heightened risk aversion stemming from global political and economic challenges. "My focus from the beginning of the year was 7 per cent plus-minus 0.5 per cent, which means 6.5-7.5 per cent. But now I am revising it to 6.5-7 per cent. The political uncertainties created by the US elections is much higher than I had anticipated," Virmani said. "The US election uncertainty has a domino effect, influencing Europe, China, and other regions, indirectly impacting India," he said on the sidelines of an interactive session with MCCI. He highlighted the significant ..

The International Monetary Fund (IMF) has revised cash-strapped Pakistan's economic outlook, downgrading its projected Gross Domestic Product (GDP) growth for 2025 to 3%, down from 3.2% forecasted just three months ago, according to a media report on Saturday. The adjustment comes amid a broader global economic assessment presented in the IMF's "World Economic Outlook Update: Global Growth Divergent and Uncertain", The Express Tribune newspaper reported. The IMF's revised projections also indicate that Pakistan's GDP growth will remain at 4% in 2026. However, the latest downgrade reflects ongoing economic challenges in the country, although the IMF did not provide specific reasons for the revision. This latest revision mirrors the forecast made by the Asian Development Bank (ADB) last month, which also adjusted Pakistan's growth forecast to 3% for the fiscal year 2024-25, up from a previously projected 2.8%. Both institutions have cited challenges faced by Pakistan's economy but h

These two metrics, while similar on the surface, provide different perspectives on economic health and growth trends

India's shipments to 4 of top 10 destinations declined

Banks availing liquidity from RBI reluctant to on-lend to money markets

As of January 2025, India's fiscal deficit for FY25 is projected at 4.9 per cent of GDP, amounting to approximately Rs 16.1 trillion