MUMBAI: At the heart of India’s non-leather footwear manufacturing hub in Tamil Nadu where global brands such as Nike, Puma, Crocs and Adidas are pouring in several thousand crores of investments, there is worry over the looming US tariff threat of 50%. Brands are looking to reroute some of their orders to the US through…
The Union government has formally withdrawn the Income-Tax Bill, 2025, which was introduced in the Lok Sabha on February 13 to replace the existing Income-Tax Act, 1961,.A fresh version of the Bill, incorporating most of the recommendations made by the Select Committee chaired by BJP MP Baijayant Panda, is scheduled to be tabled in the…
The government plans to award road projects worth Rs 10 lakh crore every year, with a target of Rs 7 lakh crore in project awards by the end of FY26, Union road transport and highways minister Nitin Gadkari said on Thursday, signalling renewed momentum after delays linked to the Bharatmala programme.Speaking at the annual session…
The average US tariff rate has climbed to 20.1%, its highest sustained level since the 1910s, according to new estimates released by the World Trade Organization (WTO) and the International Monetary Fund (IMF) on Friday. The sharp rise follows fresh duties that took effect Thursday, as part of President Donald Trump’s continued push for “reciprocal”…
Global merchandise trade is projected to grow 0.9% in 2025, helped by a surge in US imports ahead of sweeping tariff hikes, but the World Trade Organization (WTO) warned that the impact of higher duties will hit hard in 2026.In its latest forecast, the WTO revised next year’s trade growth estimate down to 1.8%, from…
Air India is working with Singapore Airlines to adopt global best practices and improve the reliability of its ageing aircraft fleet, CEO Campbell Wilson told employees during a townhall on Friday, amid heightened regulatory oversight following the June 12 crash of its Boeing 787-8.According to a PTI report citing sources present at the internal meeting,…
The rupee pared early losses and ended flat at 87.58 against the US dollar on Friday, supported by a weaker greenback and a return of foreign fund inflows, even as escalating trade tensions with the US kept market sentiment under pressure.Forex traders said the Indian currency moved in a narrow range during the session, amid…
India’s foreign exchange reserves fell by $9.322 billion to $688.871 billion for the week ended August 1, marking one of the steepest weekly declines in recent months, according to data released by the Reserve Bank of India (RBI) on Friday.In the previous reporting week, reserves had risen by $2.703 billion to touch $698.192 billion, PTI…
US stocks edged higher on Friday, keeping major indexes on track to close the week with gains, as upbeat earnings and relief over tariff policy continued to support sentiment. The S&P 500 rose 0.3% in early trade, while the Dow Jones Industrial Average added 143 points (0.3%). The tech-heavy Nasdaq, which set a record on…
Tata Motors reported a sharp 62.2% year-on-year drop in consolidated net profit to Rs 4,003 crore for the June quarter (Q1 FY26), hurt by volume decline across segments, a fall in Jaguar Land Rover earnings, and the absence of a large one-time gain booked last year.In Q1 FY25, the company had posted a net of…
