COMMERCE COMMISSION
Vizhinjam seaport will bring economic stability, says PM Modi
Narendra Modi inaugurated the Vizhinjam International Seaport. He said its capacity would triple. Modi highlighted that India lost revenue due to foreign transshipment. He emphasized that Indian money would now benefit India. He praised the PPP model for port development. Modi noted the collaboration between the Adani Group and the Kerala government.
Equal focus on tariff, non-tariff barriers in EU trade talks: Piyush Goyal
India and the EU are equally focused on tariff and non-tariff barriers in their FTA negotiations, aiming to conclude the agreement by the end of 2025. Both sides are committed to ensuring meaningful market access while respecting economic sensitivities, aligning regulatory practices, and boosting innovation. The 11th round of FTA negotiations is scheduled for May 12-16 in New Delhi.
Piyush Goyal holds trade talks with EU Commissioner, India-EU reaffirm to conclude FTA by end of 2025
Union Minister Piyush Goyal and EU Commissioner Maros Sefcovic met in Brussels, reaffirming their commitment to finalize the India-EU Free Trade Agreement by the end of 2025. The discussions focused on enhancing market access, strengthening supply chains, and ensuring mutual benefits for sustainable development. Both sides emphasized the importance of a fair agreement to boost innovation and support future investments.
Come to a Pakistandstill: India wields Indus Treaty as strategic weapon to isolate Pakistan over terror
India is adopting a firm stance against Pakistan due to its support for terrorism. This includes reconsidering the Indus Waters Treaty. Despite India's past efforts to foster peace and economic growth in the region, Pakistan's actions have hindered progress. Pakistan's economy faces challenges, including slow GDP growth and high inflation.
Meta's strong ad sales dampen tariff-induced fears
Meta Platforms exceeded first-quarter revenue expectations, driven by strong advertising performance, and anticipates similar success in the second quarter. The company is increasing capital expenditures to bolster AI infrastructure, despite economic uncertainties and potential tariff impacts. While some advertisers are reducing spending, Meta's reliable platform positions it to benefit from market instability, though regulatory challenges in Europe loom.
Trump's tariffs have launched global trade wars: Here's a timeline of events
Donald Trump’s sweeping new tariffs have reignited global trade tensions, targeting China, Canada, Mexico, and the EU. The measures have triggered swift retaliation, escalated economic uncertainty, and drawn warnings from economists about inflation, disrupted supply chains, and a potential global slowdown. Policy volatility further clouds business planning.
Food delivery can be cheaper if we have access to consumer data: NRAI’s Sagar Daryani
Daryani said that the marketing funnel can be much better if the customer data is known to the respective brands.
U.S. accounting firms tap India to alleviate talent crunch
U.S. accounting firms are increasingly turning to India to address a critical shortage of accountants at home. This surge in recruitment is boosting enrollment in specialized commerce courses in India, potentially establishing the country as a hub for accounting talent. Firms like RSM US and Moss Adams are expanding their Indian operations, mirroring the tech industry's outsourcing boom.
Chinese firms turn to Indian exporters to help fill US orders
Trade war prompts Chinese firms to approach Indian exporters. They seek help to fulfill US orders due to tariffs. Indian companies are offered commissions for sales. Sectors like hand tools and electronics see increased queries. Indian government is in talks with the US for a trade deal. Some American firms are also approaching Indian manufacturers.
RIL looking at new energy & petchem as future growth drivers
RIL is looking forward to renewable energy as the future growth driver. Under the business segment of new energy, it has identified solar power generation, solar photovoltaic (PV) modules, battery packs and green hydrogen as focus areas, which are expected to be operational in three-four years in a phased manner.
Apple App Store in India facilitated $5.3 billion in developer billings, sales in 2024
The study also found that more than 94% of that commerce accrued solely to developers and businesses of all sizes, without any commission paid to Apple. Further, over the past five years, the global earnings of India-based developers has tripled. This is the first instance where Apple has shared these numbers publicly.
Rapido likely to run food delivery pilot in Bengaluru soon
Bike taxi platform Rapido may roll out the pilot programme for its food delivery service in Bengaluru in the coming weeks, sources told us. Rapido is targeting major restaurant chains and is in discussions with franchise operators of McDonald's, KFC, and Pizza Hut, along with other high-volume quick-service and cloud kitchen chains.
China's March industrial profits rise on high-tech manufacturing
Industrial profits rose by 2.6% in March from a year earlier, taking the gain for the first quarter to 0.8%, according to data released Sunday by the National Bureau of Statistics. Last month's data compares with a 0.3% contraction for the first two months.
TikTok to enter Japan's ecommerce industry: Nikkei report
TikTok will launch its online shopping platform, TikTok Shop, in Japan in June 2025, inviting local companies and individuals to join as sellers. The platform, known for discounted products and live-stream sales, is expanding globally as TikTok faces uncertainty in the US due to regulatory pressures and potential bans
US pharma tariffs would raise US drug costs by $51 billion annually, report finds
A report suggests that a proposed tariff could significantly increase medicine costs in America. The analysis estimates a potential rise of nearly 51 billion dollars annually. This could lead to a 12.9% increase in drug prices for consumers. The move has triggered concerns among pharmaceutical companies. They fear it will hinder efforts to boost domestic production.
Air New Zealand faces backlash over rising airfares
Air New Zealand is under scrutiny due to increased ticket prices. Passengers are unhappy with the high costs. The airline cites inflation and pandemic effects as reasons. Consumer NZ reports significant price hikes compared to pre-pandemic times. Many find flying unaffordable and want a government inquiry. The Commerce Commission is probing potential breaches of the Fair Trading Act.
Chinese ecommerce platforms to end refund-without-returns amid weak economy
The government met operators including PDD Holdings and concluded the practice must end by July, from which point only merchants will be able to initiate a refund, the people said, without specifying dates.
House panel to discuss CCI role in digital era next week
The briefing could cover topics ranging from a digital competition law, which was proposed to regulate large players, to the effective oversight of antitrust behaviour of e-comerce as well as quick commerce players, said a person aware of the details.
Parliamentary panel to discuss competition regulator's role in digital landscape
Various competition issues, including those related to quick commerce companies, are expected to be on the agenda for the upcoming meeting of Parliamentary Standing Committee on Finance, a source told PTI. The subject for the meeting will be 'Evolving Role of Competition Commission of India in the Economy, particularly the Digital Landscape'.
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