The IGST component of total import duty collections is growing faster than that from Customs duty. And states enjoy a larger share in the rapidly growing pie of IGST on imports.
Trade deal is set to cut average tariffs from 15% to 3%. Indian agricultural exporters are set to enjoy duty-free access in a number of sectors, similar to those from Germany.
He also attacked Centre over foreign policy, saying that while China has taken over 4,000 sq km of Indian territory, foreign secy Misri was cutting a cake with Chinese ambassador.
In fact, the latest reading of the Federal Reserve Bank of Atlanta’s nowcast of real GDP growth suggests a contraction of 2.4 percent in the first quarter of 2025.
In 2023-24, the trade-weighted average tariffs on imported goods in India stood at 12%, much higher than 7% in 2014. Yet, total merchandise imports grew about 1.5 times over this period.
The Economic Survey 2025-26 is not a celebration of success, but a measured warning that the traditional paradigms of global economic growth are no longer applicable.
The IT services sector contributed more than half of India’s Gross Value Added, serving as a major driver of exports and employment, the Economic Survey 2025-26 has found.
Shield AI will provide V-BAT vertical takeoff & landing drones along with licences for software, which will be integrated into aircraft and made available to select Indian partners.
No nation other than China can negotiate one-on-one with Trump on an equal footing. That’s why the middle powers who so far formed the core of multilateral bodies now feel orphaned.
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