Three Indian firms get licence to import China’s rare earth magnets: Report (Financial Express)
India has granted its first licences to import rare earth magnets from China to three firms—Continental India, Hitachi, and Jay Ushin—in a bid to ease supply shortages for its fast-growing manufacturing and electronics sectors. The move comes amid China’s tightening export controls and global trade frictions, with restrictions ensuring that these imports aren’t used for defence or re-exported to the US. While the step offers short-term relief, India’s long-term goal of building a self-reliant rare earth industry remains constrained by its dependence on Chinese technology and machinery despite holding significant reserves.
Half of India-EU FTA chapters finalised: Goyal (Financial Express)
India and the European Union have decided to deepen talks on their Free Trade Agreement (FTA) to resolve contentious issues such as auto and steel trade, as well as the EU’s new climate-linked regulations like the Carbon Border Adjustment Mechanism (CBAM), which could offset tariff benefits through carbon taxes. Commerce Minister Piyush Goyal stated that half of the FTA’s 20 chapters are finalised, with several others nearing agreement, and both sides aim to reach a substantive conclusion by December 2025. India has sought preferential treatment for labour-intensive sectors and raised concerns over non-tariff barriers and environmental rules that may undermine its exports, especially as the EU plans to impose carbon taxes from January 2026.
Indian economy performing better than feared two months ago: CEA Nageswaran (Business Standard)
India’s economy is showing stronger-than-expected momentum, with growth for FY25 projected between 6.7% and 6.8%, driven by tax reforms, GST simplification, and prudent fiscal management that have boosted both consumption and private investment despite global uncertainties. Chief Economic Advisor V. Anantha Nageswaran highlighted that infrastructure expansion, digital public goods, and inflation control are sustaining balanced growth while enhancing India’s competitiveness and long-term economic stability. He also emphasized the need for stronger digital adoption in banking, vigilance against cyber frauds, and policies that make India strategically indispensable in a rapidly fragmenting global economy.
