Saturday, March 14
India advocated for fair trade practices at a WTO meeting. Piyush Goyal addressed non-tariff barriers and trade distortions. He emphasised a robust dispute settlement system. Discussions covered agriculture, fishing, and investment facilitation. India prioritised existing WTO mandates. The focus was on consensus and special treatment for developing nations. A WTO conference is planned for next year.
US Commerce Secretary Howard Lutnick anticipates a swift trade agreement between the US and India, crediting the strong relationship between President Trump and Prime Minister Modi. He emphasized the desire for increased market access for US businesses in India.
NeoLiv, a Mumbai-based realty developer, has successfully sold all 263 residential plots in its inaugural project, 'NeoLiv Grand Park' in Kundli-Sonipat, Haryana, generating over Rs 300 crore in sales. The project, spanning 19.46 acres, experienced demand nearly four times the available inventory, highlighting strong buyer confidence.
In response to US tariffs, a NITI Aayog paper suggests India selectively lower tariffs on non-sensitive US agricultural imports and offer concessions where supply gaps exist, like in edible oils. It also recommends negotiating greater US market access for Indian exports such as shrimp and spices.
Tesla is prioritizing showrooms in India to sell its vehicles, according to Heavy Industry Minister H D Kumaraswamy. The EV giant is reportedly focused on importing cars and seeking concessions under the India-US trade agreement to offer cheaper vehicles. Despite government efforts to promote local manufacturing, Tesla has not expressed interest in producing cars in India.
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, were volatile in trade on Tuesday. While Nifty50 went below 24,550, BSE Sensex sank over 700 points.
Mercedes Benz, Skoda-Volkswagen, Hyundai, and Kia have expressed interest in manufacturing electric vehicles in India, according to Heavy Industries Minister H D Kumaraswamy. This follows discussions regarding the 'Scheme to Promote Manufacturing of Electric Passenger Cars in India'. The scheme aims to attract global manufacturers with incentives like reduced customs duty on imported electric cars.
Bhavye Khetan, a UC Berkeley graduate, ignited a debate about startup funding by creating a fake founder persona. He secured responses from 27 VCs, with four requesting calls, despite having no product or pitch. Khetan's experiment highlights concerns that pedigree and buzzwords may overshadow substance in venture capital evaluations.
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, were volatile in trade on Tuesday. While Nifty50 went below 24,550, BSE Sensex sank over 700 points.
US Commerce Secretary stated that India's shift towards purchasing US military equipment is fostering a stronger trade relationship, potentially leading to a bilateral trade agreement soon. He highlighted that India's previous reliance on Russian arms had strained ties. Both nations aim to finalize the initial phase of a trade deal by late 2025, targeting $500 billion in bilateral trade.
