Daily News - Wednesday, 14 May 2025
India To Sign Mutual Recognition Agreements With 10 More Nations In 2025 (NDTV)
India has signed Mutual Recognition Agreements (MRAs) with customs authorities of nine countries, including South Korea, Hong Kong, Taiwan, the US, the UAE, Australia, and Russia, and aims to ink similar pacts with 10 more nations by December 2025, enhancing two-way trade facilitation and boosting customs clearance efficiency for accredited exporters. The MRAs are part of the Authorized Economic Operator (AEO) programme under the World Customs Organisation, which India launched in 2011, currently comprising 5,947 entities in a three-tier system with an additional logistical operators’ tier, aiming to secure and streamline cargo movement through cooperation with key supply chain stakeholders. The recent AEO MRA with Russia is expected to significantly boost bilateral trade, presently valued at $1 billion, with emphasis on petroleum, gold, automotive, pharmaceuticals, and chemicals, while also seeking to achieve a more balanced trade by increasing Indian exports.
India's retail inflation eases to six-year low of 3.16% in April 2025 over cooling food prices (mint)
India’s retail inflation in April eased to 3.16%, its slowest in over six years, driven by a decline in food prices, marking a third consecutive month of sub-4% inflation and potentially paving the way for another RBI rate cut in June, following two earlier cuts this year. Food inflation dipped to 1.78% from 2.69% in March, while overall food and beverage inflation slowed to 2.14%, despite rising costs of fruit, oil, and fats; however, economists anticipate a spike in vegetable prices in May due to weather disruptions. With the economy growing at 6.4% in the December quarter, the slowest since early 2022, analysts suggest the RBI may shift its focus more towards growth, benefiting corporate earnings and the equity market.
Nagaland Trade Bodies Declare Shutter Down Over Policy Disputes (The Times of India)
Nine District Chambers of Commerce and Industries (DCCIs) in Nagaland have announced an indefinite voluntary business shutdown starting May 19, citing the state government’s failure to nominate representatives to Urban Local Bodies (ULBs) despite multiple requests. The decision, led by the Confederation of Nagaland Chamber of Commerce and Industry (CNCCI) President Khekugha Muru, was announced during the handover ceremony of the new CNCCI leadership team for 2025–2030 in Dimapur, affecting key districts like Dimapur, Chumoukedima, Niuland, Peren, Wokha, Zunheboto, Phek, Tseminyu, and Meluri. While the government appointed DCCI members to Kohima and Mokokchung municipal councils, other districts were left out, prompting the indefinite shutdown to press for equal representation in ULBs.
Investors show strong faith in India's economy, PM's policies: Vaishnaw (Business Standard)
Union Minister Ashwini Vaishnaw highlighted strong investor confidence in India’s economy, Prime Minister’s policies, and the nation’s talent amid heightened India-Pakistan tensions, speaking at the inauguration of Renesas’ new semiconductor design centre in Noida, where the world’s smallest 3-nanometer chips will be designed end-to-end for the first time in India. Renesas, which aims to expand its workforce in India to 1,000 by 2025 and contribute 10% to its global revenue, signed MoUs with C-DAC under the MeitY Chips to Startup (C2S) programme to support local startups, boost technology, and promote local manufacturing aligned with the Make in India initiative. Additionally, the Indian government will provide a microcontroller-based hardware kit to 270 academic institutions equipped with EDA tools to foster hands-on learning and innovation in semiconductor design.
