Uttar Pradesh Ranks in Top Three for MSMEs with a 9% Share Nationally: Insights from CBRE-CREDAI Report
Overview of MSME Sector in India According to a recent CBRE-CREDAI report, Uttar Pradesh has emerged as one of the top three states in India for Micro, Small, and Medium Enterprises (MSMEs), contributing 9% to the national share. Maharashtra leads with a 17% share, followed by Tamil Nadu at 10%. Uttar Pradesh’s Contribution and Growth […]
Red Sea Turbulence: A Potential $30 Billion Blow to Indian Exports
Overview India is poised to experience a significant reduction in its export revenue, projected to be around $30 billion, in the current fiscal year. This downturn is attributed to increased threats in the Red Sea, which have disrupted maritime trade and commerce. Red Sea Threats and Impact on Indian Exports Economic Implications Broader Impact on […]
Sailing Towards 2047: Government’s Mega Investment in River Cruising and Green Vessel Development
Cruise Tourism Strategy The Ministry of Tourism has drafted a National Strategy for the development of Cruise Tourism in the country, with the aim of positioning India as a preferred destination for cruise tourism globally. The strategy document identifies various strategic pillars for infrastructure and circuit enablement, market development, ease of doing business, integrated tourism […]
Supreme Court Takes on E-Gaming Federation’s Challenge Against GST Notices
The Supreme Court of India has agreed to hear a petition filed by the E-Gaming Federation (EGF) and two of its members, Head Digital Works and Play Games 24*7, challenging the constitutional validity of the GST notices issued by the Directorate General of GST Intelligence (DGGI) to various online gaming companies. The notices have raised […]
SBI Research Debunks K-Shaped Recovery Narrative as Flawed and Baseless
In a recent report, economists at SBI Research have challenged the notion of a K-shaped recovery in India, where the rich get richer and the poor get poorer due to the COVID-19 pandemic. They argue that the pandemic has been a “leveler” that has reduced inequality by providing food and income support to the poor. […]
Mamata Banerjee’s Government Requested for Rs 50 Subsidy per Kilo by Indian Tea Association
The Indian Tea Association (ITA) has requested the West Bengal government led by Chief Minister Mamata Banerjee to provide a subsidy of Rs 50 per kilogram of tea produced in the state to help the industry cope with the rising costs and low prices. Background The tea industry in West Bengal, which produces around 25% […]
ONGC’s Flagship Deep-Sea Project in Krishna-Godavari Basin Starts Oil Production
Introduction Oil and Natural Gas Corporation (ONGC), India’s largest state-owned oil and gas company, has announced the start of crude oil production from its flagship deep-sea project in the Krishna-Godavari (KG) basin block KG-DWN-98/2 . The project, which has faced multiple delays and deadline extensions over the past few years, is expected to boost India’s […]
PM-KISAN Scheme May Rise to ₹8,000, Free Ration Scheme Allocation Set to Surge”
The government of India is planning to increase the annual income support under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme from ₹6,000 to ₹8,000 for all eligible land-holding farmer families. This was announced by Prime Minister Narendra Modi on the occasion of Diwali. What is PM-KISAN? PM-KISAN is a central sector scheme that provides […]
Petrochemical Industry Stands Against Oman FTA, Deal Could Be Postponed
The proposed free trade agreement (FTA) between India and Oman, which was expected to be signed in January 2024, could face a delay due to opposition from the Indian petrochemical industry. The industry fears that the FTA would expose it to unfair competition from Oman’s subsidized and integrated petrochemical sector, which has been expanding its […]
Relief for Competition Commission as GST Authorities Dismiss ₹7.08 Crore Service Tax Demand
The Competition Commission of India (CCI), the statutory body that regulates anti-competitive practices in the country, has received a favorable ruling from the GST authorities in a tax dispute case. The Central GST (CGST) commissioner audit has passed an order dropping a ₹7.08 crore service tax demand against the CCI, stating that the body does […]