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India's 'Make in India' Initiative Reduces Import Dependence Amid Global Supply Chain Pressures

India's 'Make in India' Initiative Reduces Import Dependence Amid Global Supply Chain Pressures

India's 'Make in India' initiative is showing positive results as the country's import dependence in key sectors such as electricals, chemicals, capital goods, and consumer durables has decreased. This development comes despite ongoing global supply chain disruptions, particularly due to the West Asia crisis. A report by the Bank of Baroda highlights that while the overall import intensity of Indian companies has remained stable, specific sectors have seen a significant reduction in their import-to-net-sales ratios. For instance, the electricals sector's ratio dropped from 22.7% in FY19 to 13.7% in FY25. Similarly, the chemicals sector saw a decline from 27.5% to 22.5% over the same period. The report attributes these improvements to policy measures aimed at bolstering domestic manufacturing capabilities, such as the India Semiconductor Mission 2.0 and the development of Chemical Parks.
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Bank of Baroda Reports Decline in India's Import Dependence Amid Global Supply Chain Pressures

Bank of Baroda Reports Decline in India's Import Dependence Amid Global Supply Chain Pressures

A recent report by the Bank of Baroda highlights a significant reduction in India's import dependence across several key sectors, despite ongoing global supply chain disruptions. The report, released on Saturday, indicates that sectors such as electricals, chemicals, capital goods, and consumer durables have shown a marked decrease in import reliance. This shift is attributed to India's strategic efforts to bolster domestic manufacturing capabilities through initiatives like Make in India and the India Semiconductor Mission 2.0. The study analyzed 1,372 non-financial companies, revealing that the overall import-to-net-sales ratio for India stood at 22.3% in FY25, down from 22.9% in FY19. Notably, the electricals sector saw a sharp decline in its import-to-net-sales ratio from 22.7% in FY19 to 13.7% in FY25. Similar trends were observed in the chemicals sector, where the ratio fell from 27.5% to 22.5% over the same period.
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India's Automotive Sector Sees 23% Growth, Boosted by 'Make in India' Initiative

India's Automotive Sector Sees 23% Growth, Boosted by 'Make in India' Initiative

India's automotive sector has experienced a significant 23% year-on-year growth in the passenger vehicle market for May 2026, with nearly 4.4 lakh units sold. This growth is attributed to strong domestic demand and the 'Make in India' manufacturing initiative. Union Minister of Commerce & Industry, Piyush Goyal, highlighted the performance as a reflection of growing consumer confidence and industrial aspirations. Major companies like Maruti Suzuki, Hyundai Motor India, and Mahindra & Mahindra reported robust sales figures, driven by sustained domestic demand and solid performance across passenger and commercial vehicle segments.
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Mallcom Expands PPE Manufacturing with New Sanand Facility

Mallcom Expands PPE Manufacturing with New Sanand Facility

Mallcom Expands PPE Manufacturing with New Sanand Facility
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India Eliminates Tax on Overseas Bond Investors to Boost Foreign Capital Inflows

India Eliminates Tax on Overseas Bond Investors to Boost Foreign Capital Inflows

India has announced a significant policy change aimed at attracting foreign portfolio investments by exempting foreign investors and the Bank for International Settlements from income tax on interest or capital gains. This exemption will be effective from April 1, 2026. The move comes as India faces record-high foreign capital outflows, with foreign investors previously subjected to a 12.5% long-term capital gains tax on listed shares and bonds held for over 12 months, and a 20% withholding tax on interest from government bonds. Additionally, the Reserve Bank of India has expanded the range of government securities available for non-resident investors and removed limits on short-term investments and individual securities for foreign portfolio investors. These measures are part of a broader strategy to improve India's balance of payments and stabilize the rupee, which has been under pressure due to significant foreign investor sell-offs and rising global oil prices.
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Mallcom Expands PPE Manufacturing with New Sanand Facility, Boosting Local Production

Mallcom Expands PPE Manufacturing with New Sanand Facility, Boosting Local Production

Mallcom Expands PPE Manufacturing with New Sanand Facility, Boosting Local Production
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India Launches $1 Billion Fund to Stabilize Airline Fuel Costs Amid Rising Prices

India Launches $1 Billion Fund to Stabilize Airline Fuel Costs Amid Rising Prices

The Indian government has introduced a Rs100 billion ($1 billion) price stabilization fund to protect its airlines from the impact of rising jet fuel prices, exacerbated by the ongoing conflict in West Asia. This initiative is designed to provide interest-free advances to oil marketing companies, ensuring stable aviation turbine fuel (ATF) pricing for airlines. The fund aims to offer greater predictability in fuel costs by adopting a fixed-price arrangement for both domestic and international operations, thereby reducing airlines' exposure to sudden fuel price spikes. This measure is expected to stabilize airfares and maintain domestic and international air connectivity. The fund will be available to all scheduled Indian carriers for a period of three years. Air India, among other carriers, has already announced plans to reduce international operations due to high fuel prices and airspace restrictions.
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U.S. Plans New Tariffs on Trading Partners After Forced Labor Investigation

U.S. Plans New Tariffs on Trading Partners After Forced Labor Investigation

U.S. Plans New Tariffs on Trading Partners After Forced Labor Investigation
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Britain plays down concern on India trade deal, hints at implementation delay

Britain plays down concern on India trade deal, hints at implementation delay

By Alistair Smout LONDON, June 4 (Reuters) - Talks between Britain and India on implementing a free trade deal are moving quickly and going well, trade minister Peter Kyle said, suggesting the deal would not be reopened but could come into effect later than expected after a dispute over steel.
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Trump Administration Proposes New Tariffs Amid Global Trade Tensions

Trump Administration Proposes New Tariffs Amid Global Trade Tensions

The Trump administration has proposed new tariffs of up to 12.5% on imports from 60 economies, including Canada, citing failure to curb trade in goods made with forced labor. This move comes amid escalating global trade tensions and Middle East conflicts. The Canadian dollar has weakened to an eight-week low against the U.S. dollar, reflecting investor concerns. The proposal includes tariffs of 10% for some trading partners and 12.5% for others, such as China, Japan, and India. The plan is subject to public comment and hearings before any final decision.
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U.S. Proposes Tariffs on African Economies Over Forced Labor Concerns

U.S. Proposes Tariffs on African Economies Over Forced Labor Concerns

The United States, under the direction of the Office of the United States Trade Representative (USTR), has proposed new tariffs targeting several African economies, including Nigeria and South Africa. This move is part of a broader initiative to address the importation of goods produced with forced labor. The USTR's Section 301 investigation identified 54 economies that have not sufficiently banned or enforced measures against such imports. The proposed tariffs could add an additional 10% to 12.5% on top of an existing 10% baseline duty, potentially raising total tariffs to 27.5% for some countries. The proposal is not limited to Africa; it also affects major trading partners like China, India, Vietnam, Brazil, and the United Kingdom. The proposal will undergo a public consultation process before any final decision is made, allowing affected countries to respond and possibly avoid penalties.
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Egyptian Cotton Faces Challenges in Maintaining Luxury Status Amid Global Shifts

Egyptian Cotton Faces Challenges in Maintaining Luxury Status Amid Global Shifts

Egyptian cotton, known for its luxury status, is facing challenges due to tighter regulations and climate disruptions. Historically valued for its extra-long-staple fibers, Egyptian cotton's reputation has been tested by political and regulatory disruptions, notably after Egypt's 2011 revolution. The Welspun controversy further damaged trust in its authenticity. Currently, nearshoring and ESG regulations are drawing attention to North Africa, offering Egypt a chance to strengthen its supply chain. However, competition from Peru, India, and Caribbean Sea Island cotton poses a threat to its market position.