Daily News - Monday, 10 November 2025
India needs more financial reforms to hit $30 trn goal, says World Bank (Business Standard)
According to the World Bank’s latest Financial Sector Assessment report, India must accelerate financial sector reforms and strengthen private capital mobilisation to achieve its vision of becoming a 30-trillion-dollar economy by 2047. The report commended India’s strong digital public infrastructure and inclusive financial system, which have improved access to financial services and enhanced resilience since the last assessment in 2017, while urging further progress in account usage for women and broader access for individuals and MSMEs. It also praised India’s regulatory reforms for banks and NBFCs, the rise of capital markets from 144 to 175 percent of GDP, and recommended measures like credit enhancement and securitisation platforms to deepen market development and sustain economic growth.
India, New Zealand trade pact to boost trade, investment ties: Ministry (Business Standard)
India and New Zealand are advancing negotiations on a Free Trade Agreement aimed at boosting trade flows, deepening investment ties, and strengthening supply-chain resilience, with Commerce Minister Piyush Goyal meeting his New Zealand counterpart to push talks forward. The fourth round of discussions, held in Auckland and Rotorua, covered key areas such as goods, services, economic cooperation, and rules of origin, with both sides reaffirming their commitment to a modern and mutually beneficial deal. Bilateral trade between the two countries reached 1.3 billion dollars in 2024–25, up nearly 49 percent from the previous year, and the proposed FTA is expected to open new opportunities in agriculture, renewable energy, pharmaceuticals, and education.
Russia eyes Indian workers; deal likely during Putin's trip (The Economic Times)
India and Russia are set to sign a mobility pact at the upcoming New Delhi summit to protect the rights of Indian workers and allow more Indians to work in Russia, which is facing a population decline and a need for skilled labor in sectors such as machinery and electronics. By the end of 2025, more than 70,000 Indians are expected to be employed in Russia, and experts believe this growing diaspora could become a strong foundation for future India-Russia relations, while India has also increased its imports of Russian diamonds and gold this year. However, Western sanctions on Russia’s diamond trade and the 50 percent US tariff on Indian polished diamonds have created serious challenges for India’s diamond industry, despite temporary gains in trade volumes.
India mulls easing barriers between SEZs-local market to allow freer flow of goods & services (The Economic Times)
India is exploring reforms to make its Special Economic Zones more competitive by easing restrictions between these export hubs and the domestic market, aiming to boost manufacturing, exports, and job creation. The proposed changes, discussed between the Prime Minister’s Office and key ministries, may include rationalising customs duties on domestic sales, allowing payments in Indian rupees, and enabling domestic units to send goods into SEZs for outsourcing, which would require amendments to the SEZ Act of 2006. Experts suggest that transforming SEZs into broader “Development Hubs” integrating domestic and export markets, easing customs norms, and aligning duties with Free Trade Agreement rates could revitalise India’s export competitiveness and enhance resilience amid global trade uncertainty.
