DOMESTIC
Ramayana builds a stronger domestic bridge amid global push
Ramayana: Part 1 has earned ₹403.9 crore in India and ₹260 crore overseas in its first six days, despite a much wider international release. Trade experts attribute its limited appeal in Western markets to cultural unfamiliarity, simplified storytelling and a lack of emotional depth, while competition from established franchises adds pressure.
Government invites fresh applications under Rs 2,700 crore medical device PLI scheme
The government is inviting new applications under the Production Linked Incentive Scheme for Medical Devices. This scheme has been extended until 2035-36 with an outlay of Rs 2,700 crore. Eligibility conditions have been simplified, and new applicants can submit multiple applications across different target segments. The revised scheme aims to enhance domestic manufacturing of high-end medical devices and improve global competitiveness.
India may get a better trade deal: Samir Saran on renegotiating with the US
Following the US midterm elections, Samir Saran emphasized India's need to navigate trade negotiations with patience. He believes aggressive US tariff threats are often part of larger negotiations rather than immediate policy changes. Saran indicated that both domestic political shifts and bipartisan support in Congress ensure continuity of US trade goals. India can leverage its vast market to secure advantageous terms during negotiations.
China’s trade surplus tops $1 trillion for second straight year as exports surge
China's trade surplus reached $1.04 trillion in January-October, crossing $1 trillion for a second consecutive year. October exports rose 35.2% year-on-year, while imports grew 41.6%, narrowing the monthly surplus to $105.3 billion. Strong overseas demand is supporting exports, but weak domestic consumption and rising trade tensions pose risks to the outlook.
DPIIT seeks Fillip for local mfg of 100 goods in budget
DPIIT has examined 500 heavily imported products to identify opportunities for boosting domestic manufacturing. The department plans to share its findings with the finance ministry for the FY28 budget recommendations. Commerce Minister Piyush Goyal met with Skoda Auto Volkswagen to promote electric vehicle manufacturing and increase localization. High import dependence is classified based on the percentage of domestic demand met by imports.
Govt may extend support measures in FY28 Budget to boost manufacturing of 100 products: Official
The government may announce Budget 2027-28 support measures to boost domestic manufacturing of 100 products, including auto components, chemicals and machinery, to reduce import dependence. DPIIT has identified the products after consultations with ministries and industry.
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NCW chief Vijaya Rahatkar calls for mindset change, says laws alone cannot ensure women's safety
NCW Chairperson Vijaya Rahatkar has called for a fundamental shift in society's attitude towards women, saying they are expected to shoulder multiple responsibilities but continue to face discrimination and violence. She said laws have helped deter offences but cannot bring lasting change, flagging domestic violence, workplace harassment and rising cybercrimes.
Trump announces Task Force Iron Gate to choke off Iran's trade routes, enforce restrictions on weapons supplies
US President Donald Trump has announced Task Force Iron Gate to restrict the movement of weapons, dual-use technologies and sanctioned materials into and out of Iran. The initiative will operate alongside a US naval blockade that CENTCOM says has prevented Iran from exporting more than $25 billion in crude oil.
Samvat 2083 begins: Will the good times roll for Indian businesses?
Samvat 2083 begins with Indian businesses entering the new year on a note of cautious optimism. Strong GST collections, festive demand and the RBI’s upgraded FY27 growth forecast point to economic resilience. But weak hiring, easing manufacturing momentum, food inflation and crude oil risks cloud the outlook.
Inside Rs 77,000 cr plan rewiring India’s tech DNA forever
The initiative is already delivering results, with 38 facilities in active production plugging domestic gaps and 16 units progressing through machinery setup. Small and medium enterprises drive half of these ventures.
Lower crude, global stability to drive market growth in new Samvat: ANMI President Kamlesh Shroff
India's macroeconomic environment is poised for robust growth, projected at over seven percent, bolstering equity markets. With falling crude oil prices, the rupee may strengthen, drawing foreign investors. Retail and domestic institutional investors are actively engaging despite foreign investor withdrawal. Clarity from recent US elections is predicted to alleviate geopolitical tensions, boosting business confidence and anticipation of renewed foreign investment in Indian markets.
ED probes $1.5 million foreign funding trail across six countries over alleged meddling in India's domestic affairs
In a significant investigation, the Enforcement Directorate is examining the financial transactions of foreign companies that are tied to India's domestic issues. Investigators have followed $1 million in payments through various jurisdictions before pinpointing a firm in the UK. Of particular interest is the $500,000 that originated from a Canadian source.
India may lower shipbuilding subsidy localisation threshold to 20% to attract foreign investors
The government is considering lowering the minimum domestic-content threshold for shipbuilding incentives from 30% to 20%, with a full subsidy payout linked to 40% localisation. The proposed relaxation, conditional on firm investment milestones, could benefit South Korea's HD Hyundai, which plans a $4 billion greenfield shipyard in Tamil Nadu.
Jewellers report brisk Dhanteras sales as gold price drop lures buyers; volumes seen flat
Volumes, however, are likely to remain roughly flat from a year earlier because prices are still well above last year's levels, said Rajesh Rokde, chairman of the All India Gem and Jewellery Domestic Council (GJC).
DGTR recommends imposition of quantitative restrictions on soda ash imports for 2 years
The Directorate General of Trade Remedies has signaled its intention to introduce protective measures to curb the influx of soda ash imports. This action responds to an appeal from the Alkali Manufacturers Association of India due to a troubling spike in imports. The proposed two-year quantitative restrictions will allocate specific quotas per country, distributing these annual restrictions in quarterly segments to ensure domestic manufacturers are protected.
Sebi revises currency derivative norms for domestic investors, FPIs; allows to trade up to USD 5 mn
Sebi has revised its regulations to permit domestic and foreign portfolio investors to take positions in currency derivatives. Investors can now hold up to USD 5 million without establishing underlying exposure. The new guidelines also require FPIs to ensure their short positions do not exceed this limit. For amounts above the threshold, FPIs must have underlying exposure in Indian debt or equity securities.
India's farms offer 116 GW solar manufacturing opportunity: ISMA
India's agricultural sector could create a demand for 116 GW of solar modules through the solarisation of irrigation pumps. The Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) aims to support this transition. Solarising pumps can reduce dependence on conventional electricity and diesel while improving farmers' electricity availability. The report emphasizes the need for sustained policy support and demand visibility to benefit domestic manufacturers.
India’s solar components market to more than double to $7.8 billion by March 2028: CEEW
India's market for solar module components is projected to exceed $7.8 billion by March 2028. This growth is primarily driven by increased domestic manufacturing capacity and rising demand. Planned expansions of production facilities are crucial for meeting anticipated requirements. Additionally, ensuring consistent quality and reliable supply chains will enhance competitiveness against imports. The study emphasizes the importance of clear standards and regulations for the solar components industry.
What is Polyamory? Inside California City's decision to legally recognize throuples and foursomes as domestic partners
In a significant step towards inclusivity, West Hollywood's new ordinance permits polyamorous relationships to be officially registered as domestic partnerships. This change provides legal safeguards for multi-partner families regarding hospital visitations and housing security. However, it does not extend full marriage benefits or inheritance rights. Following the lead of Somerville and Cambridge in Massachusetts, this ordinance showcases a growing acceptance of varied family dynamics while maintaining traditional marriage statutes.
Pentagon chief tech officer says US will detail laws that apply to AI labs this month
The US federal government is preparing to reveal the regulations applicable to domestic AI labs. Pentagon Chief Technology Officer Emil Michael announced that details will be shared in a couple of weeks. The Super Intelligence Task Force was established to regulate AI policy following concerns about industry practices. Michael emphasized the importance of creating a regulatory framework that builds public confidence.
Indian battery component makers face up to 61% cost disadvantage against imports: Report
Indian battery component manufacturers are facing cost challenges that make local production more expensive than imported goods. The report indicates that high input costs hinder the growth of domestic manufacturing capabilities. Battery demand in India is expected to rise significantly by 2037, creating urgency for improvements in local production. The government is considering incentive options to support the industry and bridge the cost gap.
India's natural diamond industry eyes revenue stabilisation at $15 billion, not recovery
An analysis indicates India's natural diamond industry's revenues are projected to stabilize rather than rebound. Domestic demand is expected to cushion export weaknesses, particularly from the US and China. Lab-grown diamonds are reshaping the entry-level segment, affecting market dynamics and pricing. While profitability faces pressure, supply discipline is helping maintain stability in credit profiles. Overall, improved inventory and consumption trends could support a more robust industry outlook.
Diwali bonus dilemma: Should a nanny earning Rs 40,000 per month from Pune family get the same festive monthly bonus as a maid?
A Pune family’s question about how much Diwali bonus to pay its domestic workers has led to a debate on Reddit. The family pays its nanny Rs 40,000 per month, compared with Rs 7,000 for its cook and Rs 4,000 for its maid, and is unsure whether the nanny should receive an entire month's salary as a festive bonus. While some Reddit users suggested paying 10-50% of her monthly salary, others argued that one month's salary is the customary Diwali bonus.
India may reimpose broken rice export restrictions as prices cross $360 per tonne: IREF
India may reimpose restrictions on exports of 100% broken rice as international prices cross $360 per tonne and domestic demand from ethanol manufacturers and poultry-feed producers increases, the Indian Rice Exporters' Federation (IREF) has warned. No fresh curbs have been announced so far.
India to make tunnel boring machines at home if China curbs exports: Piyush Goyal
India is gearing up to start producing its own tunnel boring machines if China decides to limit its exports. This statement came from Piyush Goyal, India's trade minister, after Beijing made its recent announcement. It highlights India’s plan to not rely on foreign supplies and enhance its domestic manufacturing capabilities in this crucial area.
US manufacturing picks up in October; input prices stay high
US manufacturing activity experienced growth in October due to solid domestic demand and increased business spending in AI. The manufacturing PMI rose to 55.5 from 54.5 in September, indicating ongoing growth in this sector. Domestic demand showed the strongest pace of growth in over five years during the third quarter. However, inflation remains a concern amidst supply challenges and high input prices.
Renault India sales dip marginally in October, domestic sales rise 31% in Jan-Oct
Renault India experienced a small decline in total sales during October compared to the previous year. However, domestic sales showed strong growth of 31% from January to October this year. The company reported total October sales of 4,577 units, down from 4,672 units last year. Sequentially, sales increased by 35%, indicating strong market traction. Deliveries for the New Renault Duster Strong Hybrid E-Tech 160 will begin soon.
Delhi govt mandates registration of domestic help agencies; Rs 50,000 fine for violations
The Delhi government has mandated registration for all private placement agencies providing domestic help services. Agencies must register within 15 days and complete police verification for workers. A penalty of Rs 50,000 will be imposed for non-compliance with these regulations. Employers are advised to verify agency registrations and insist on police checks before hiring. The measures aim to prevent exploitation of domestic workers and ensure fair working conditions.
Move beyond domestic market to build global brands: Piyush Goyal tells industry
Piyush Goyal emphasized that Indian talent should be viewed as a global brand alongside established names. He called for Indian businesses to enhance their competitiveness and focus on quality. Goyal mentioned the importance of promoting domestic products without restricting consumer freedom. He also outlined challenges posed by international competitors like Vietnam and Malaysia. Additionally, he stressed that work ethic contributes significantly to success in India’s economy.
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