Business Finance

Textile Firms Under GST Lens for Misclassifying Services

By BPN News Desk March 17, 2025

The Central Goods and Services Tax (CGST) department has launched an investigation into multiple textile manufacturing companies across India over suspected misclassification of services to avoid higher tax rates. The inquiry focuses on firms allegedly paying lower GST rates under incorrect tax classifications, resulting in substantial revenue losses. Misclassification of

Business Trade

India Seeks Reciprocity in EU Free Trade Agreement Negotiations

By BPN News Desk March 17, 2025

India is advocating for reciprocal trade concessions in its ongoing Free Trade Agreement (FTA) negotiations with the European Union (EU), particularly concerning non-tariff barriers that limit Indian exports. The government aims to ensure that trade benefits are balanced, especially in sectors like medical devices, where regulatory challenges have hindered market access.

Business Industry

India’s Semiconductor Industry Poised for Growth Amid Challenges

By BPN News Desk March 16, 2025

India’s semiconductor industry is on the verge of significant expansion, with ambitions to capture 8-10% of the projected $420 billion global semiconductor market by 2030. This ambitious goal highlights the nation’s potential to contribute around $40 billion to global semiconductor demand over the next five years. Government Initiatives to Boost Semiconductor

Finance

Sovereign Gold Bond Investors Reap Tax-Free Gains as RBI Sets Redemption Price at ₹8,624

By BPN News Desk March 16, 2025

Investors in the Sovereign Gold Bond (SGB) Scheme 2016-17 Series IV have experienced substantial returns as the Reserve Bank of India (RBI) announced a redemption price of ₹8,624 per unit. This series, issued in March 2017, had an initial issue price of ₹2,943 per gram, leading to a significant appreciation over the investment period. The […]

Business Trade

Govt Urges Industry to Shift Sourcing from China to US

By BPN News Desk March 14, 2025

The Indian government has advised domestic industries to reduce their dependence on Chinese imports and explore alternative sourcing from the United States. This move comes in response to growing concerns over trade tariffs and geopolitical uncertainties that may impact India’s supply chain. India Encourages Diversification of Imports Officials have urged key industry

Business Industry

German, US Firms Show Interest in India’s OSAT Sector

By BPN News Desk March 14, 2025

The semiconductor industry in India is witnessing growing interest from global players, with companies from Germany and the United States looking to invest in Outsourced Semiconductor Assembly and Testing (OSAT) facilities. The move comes as India strengthens its semiconductor ecosystem to position itself as a global hub for chip packaging and manufacturing. Foreign Firms

Business Industry

Narayana Murthy Warns Against Freebies, Calls for Job Creation

By BPN News Desk March 13, 2025

Infosys co-founder N R Narayana Murthy has underscored the importance of job creation and innovation as the primary solutions for poverty eradication, cautioning against over-reliance on government freebies. Speaking at an event in Mumbai, he stressed that sustainable economic progress comes through entrepreneurship and employment generation, rather than welfare handouts.

Industry

India’s Industrial Production Surges by 5% in January 2025, Led by Manufacturing and Mining

By BPN News Desk March 13, 2025

India’s industrial production experienced a notable uptick in January 2025, with the Index of Industrial Production (IIP) registering a 5% year-on-year growth, surpassing the previous month’s 3.2% increase and exceeding economists’ expectations of a 3.5% rise.  This growth was primarily driven by robust performances in the manufacturing and mining

Markets

U.S. Tech Stocks Plunge as Apple, Nvidia, and Tesla Lead $750 Billion Market Value Loss

By BPN News Desk March 12, 2025

The U.S. technology sector witnessed a major sell-off on March 10, 2025, resulting in a combined market value loss of over $750 billion for the seven largest tech companies. Apple suffered the biggest hit, losing $174 billion in a single day as its shares fell by 4.9%. Nvidia followed with a 5.1% decline, wiping out […]

Trade

White House Criticizes India’s High Tariffs on American Goods

By BPN News Desk March 12, 2025

The White House has criticized India’s high tariffs on American products, highlighting a 150% duty on alcohol and a 100% tariff on agricultural goods. White House Press Secretary Karoline Leavitt emphasized that such steep tariffs hinder U.S. exports, particularly affecting industries like Kentucky bourbon. In response to escalating trade tensions, India recently