Business

New Delhi: The recently concluded Free Trade Agreement (FTA) between India and the European Union (EU) has irked the United States, which has openly expressed concerns over the deal. On Wednesday, US Treasury Secretary Scott Besent criticized the agreement, signaling American disappointment. In an interview with CNBC, Besent was asked whether the India-EU trade pact posed a threat to US interests. He replied that countries should pursue what is best for themselves. However, he expressed “considerable disappointment” over Europe’s move, particularly in the context of the ongoing Ukraine conflict. Oil Trade Under ScrutinyBesent also raised the issue of oil, noting: “We imposed a 25% tariff on India’s purchases of Russian oil. Imagine what happened next: last week, European nations conc...

New Delhi: The government is reportedly considering expanding the definition of startups in this year’s Union Budget, with a particular focus on deep technology and artificial intelligence (AI). A senior government official said the move could also include cooperatives, aiming to boost innovation and create more employment opportunities across the country. Currently, India has over 200,000 registered startups. Under the Department for Promotion of Industry and Internal Trade (DPIIT), only entities registered as private limited companies, partnership firms, or limited liability partnerships are recognized as startups. These entities must be less than 10 years old at the time of application, and their turnover in the previous financial year should be below ₹100 crore. Encouraging Innov...

New Delhi: The Pension Fund Regulatory and Development Authority (PFRDA) has launched the NPS Health Pension Scheme, a pilot initiative designed to support retirees not only with a steady pension but also with their medical expenses. The scheme provides financial assistance for both hospitalization and outpatient treatment, ensuring subscribers do not have to rely on others during times of illness. Flexible deposit and withdrawal rules have been built in to make healthcare more accessible and stress-free. How the Scheme WorksThe NPS Health Pension Scheme operates under a Multiple Scheme Framework (MSF). Subscribers contribute to the fund themselves, making it a contributory pension scheme. Any Indian citizen can voluntarily enroll in the program. Currently, the scheme is being offered a...

Chandigarh: At just 28, Ritika Gupta has become a shining example of perseverance and entrepreneurship. After facing two failed startups and a factory fire, the National Institute of Fashion Technology (NIFT) textile designer launched her women’s ethnic wear brand ‘Sanskritam’ in 2021 with a modest investment of only ₹50,000. Today, Sanskritam is a multi-crore business, celebrated for its inclusive sizing and innovative designs. Early ChallengesAfter completing her textile design course at NIFT Mumbai, Ritika worked with Skill India, training inmates at Tihar Jail in sewing. Driven by entrepreneurial ambitions, she left her job to start a men’s shirt business. However, as a woman entrepreneur, she faced numerous challenges, leading to heavy losses on an investment of ₹4 lakh. Later, she...

New Delhi: Domestic equity markets continued their upward momentum for the second consecutive session on Wednesday, fueled by optimism following the historic India-European Union Free Trade Agreement (FTA). The BSE Sensex surged 487.20 points, or 0.60%, to close at 82,344.68, having touched an intra-day high of 82,503.97 points. Meanwhile, the NSE Nifty gained 167.35 points, or 0.66%, ending the session at 25,342.75. Sectoral Highlights and Stock MoversAmong Sensex constituents, Bharat Electronics Ltd. (BEL) rallied nearly 9% after its December quarter results. Other gainers included Eternal, Bajaj Finance, Power Grid, Trent, Mahindra & Mahindra, and UltraTech Cement. In contrast, Asian Paints fell over 4%, while Maruti Suzuki, Sun Pharma, Infosys, and Bharti Airtel ended the day...

New Delhi: The world is increasingly seeking alternative trade routes beyond the United States, and the recently finalized India-European Union Free Trade Agreement (FTA) is a prime example. Policies pursued by US President Donald Trump have isolated America in global trade, eroding trust among allies and creating disruptions in supply chains. Trump’s approach—including high tariffs, withdrawal from international organizations, and transactional foreign policy—has strained relationships with traditional allies. This has disrupted global supply chains and weakened America’s international influence. Allies Moving AwayEven staunch allies such as the European Union have shown signs of distancing themselves. India, for instance, continues to face tariffs of up to 50% imposed under what it...

New Delhi: India has completed its proposals in the ongoing trade negotiations with the United States, and the responsibility to move the deal forward now rests with Washington. Senior government officials on Wednesday clarified that while public statements from members of the US administration should be viewed in context, the substantive details of the negotiations are known only to the US Trade Representative (USTR) and their team. A senior official stated, “India has done what it needed to do. Any public remarks from other US officials should be seen in this context. Now, the ball is in the US court.” Officials also highlighted that discussions with the US continued even while India was in the final stages of negotiating a Free Trade Agreement (FTA) with the European Union (EU), d...

New Delhi: Gold and silver prices in Delhi witnessed a sharp rally on Wednesday, touching new record levels. The surge was driven by a weaker US dollar and bullish trends in global markets. Silver, in particular, recorded its third consecutive day of gains, while gold also climbed to a new peak. Silver jumped ₹15,000 to reach ₹3,85,000 per kilogram on Wednesday. Earlier, it had risen by ₹40,500 on Tuesday. In just three sessions, silver has surged by a total of ₹65,000. Meanwhile, 99.9% pure gold rose ₹5,000 to hit a new record of ₹1,71,000 per 10 grams. Market experts attribute the rally to global uncertainties and growing tensions, prompting investors to seek safe-haven assets such as gold and silver. HDFC Securities Senior Analyst Somil Gandhi commented, “Gold and silver continue ...

New Delhi: Gold and silver prices continue to surge, breaking previous records. On Wednesday, gold rose nearly 4% while silver jumped about 6%, prompting jewelers to halt purchases as consumer demand drops sharply. Gold Hits New HeightsIn Mumbai’s spot market, 10 grams of 999-purity gold touched ₹1,59,027. This represents an increase of almost ₹5,000 in a single day, and prices have surged over 20% in January alone. Analysts attribute this rise to escalating geopolitical tensions worldwide and expectations of a U.S. Federal Reserve rate cut. Jewelers Stop BuyingVimal Goyal, President of the Delhi Bullion and Jewelers Welfare Association, said continuous price increases have forced jewelers to stop buying gold. Customers are also refraining from purchases, and jewelers are meeting dem...

New Delhi: The government may receive a massive ₹3 lakh crore cheque from the Reserve Bank of India (RBI) in the upcoming fiscal year. Most economists believe that RBI will once again make a large surplus transfer to the government for FY 2027, potentially exceeding last year’s ₹2.7 lakh crore transfer. In recent years, dividends from RBI have become a major source of non-tax revenue for the government. According to a report by Economic Times, Standard Chartered Bank has stated that the ratio of RBI’s dividend to GDP is likely to remain stable. However, if RBI reduces its Contingency Risk Buffer (CRB), the dividend could rise further. The CRB limit for FY 2026 was increased to 4.5–7.5% from the previous 5.5–6.5%. Standard Chartered noted, “If RBI lowers the CRB to 5.5% and increases dol...