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International Financial Services Centres Authority (IFSCA) Bulletin Oct-Dec 2024

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CUSTOMS

30
Apr

Notification No.31/2025 (Delhi)
S.O. (E). – In exercise of the powers conferred by sub-section (1) of section 4, read with section 3 and sub sections (1) and (1A) of section 5 of the Customs Act, 1962

28
Apr

Circular No. 15/2025 (Delhi)
Simplification of procedures related to Air Cargo Movement & Transhipment -reg.

RBI

30
Apr

RBI/FED/2025-26/32 (Delhi)
Amendments to Directions - Compounding of Contraventions under FEMA, 1999

30
Apr

RBI/2025-26/33 (Delhi)
Dispensation of ?100 and ?200 denomination banknotes through ATMs

30
Apr

RBI/2025-26/34 (Delhi)
Processing of Regulatory Authorisations/ Licenses/ Approvals through PRAVAAH

28
Apr

RBI/2025-26/31 (Delhi)
Note Sorting Machines: Standards issued by the Bureau of Indian Standards - Revised Timeline for Implementation

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INDIAN ECONOMY

India has the world's 7th highest gold reserves! Why is RBI buying gold and how does it help the Indian economy?

Today is Akshaya Tritiya and buying gold is considered auspicious. But did you know that gold is considered a safe haven asset - not just by individuals but also central banks. Which explains why central banks around the world have been increasingly purchasing gold in the last few years amidst ongoing global ...

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Private sector capex likely to dip 25% to Rs 4.88 lakh crore in FY26: Govt survey

Intended capital expenditure of the private corporate sector is estimated to decline by about 25 per cent to Rs 4.88 lakh crore in 2025-26 from Rs 6.56 lakh crore in FY25, said a government survey report released on Tuesday. According to the Forward-Looking Survey on Private Sector CAPEX Investment Intentions...

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India prepared to 'future-proof' trade deal as sweetener in US talks, sources say

New Delhi is prepared to include a sweetener in trade talks with Washington that would "future-proof" a deal by ensuring no other trade partners could have superior terms, as it pushes for a quick agreement with the Trump administration, Indian government officials said. The "forward most-favoured-nation"...

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Indian economy stable & resilient in the face of tariff-related uncertainties: Finance Ministry

Amid the evolving global developments and the recent trade and tariff-related uncertainties, India’s domestic economy continues to show signs of stability and resilience, said the Finance Ministry's review for March. Key indicators such as higher GST collections and increased E-way bill generation in Q4 FY...

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Risks from trade tremors warrant close monitoring: FinMin report

Risks from ongoing global trade disruptions warrant close monitoring and diversification into various unexplored markets, the finance ministry said in a report on Tuesday. While merchandise exports may face pressure due to global uncertainties, services exports will likely maintain resilience, it said. “Ho...

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Pvt sector capex likely to dip 25% to Rs 4.88 lakh cr in FY26: Govt survey

Intended capital expenditure of the private corporate sector is estimated to decline by about 25 per cent to Rs 4.88 lakh crore in 2025-26 from Rs 6.56 lakh crore in FY25, said a government survey report released on Tuesday. According to the Forward-Looking Survey on Private Sector CAPEX Investment Intenti...

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India has highest growth potential today despite internal challenges, says Ray Dalio

India has the highest growth potential today, similar to China in 1984, said billionaire investor and founder of Bridgewater Associate, Ray Dalio. In a post on X (formerly Twitter), industrialist Harsh Goenka shared a clip wherein Ray Dalio betted on the growth potential of India despite internal challenges ...

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MARKET & FINANCE

Sebi chief asks retail investors to stay invested despite market volatility

India is in a reasonably good spot despite global headwinds and retail investors should stay invested for long market volatility notwithstanding, Sebi Chairman Tuhin Kanta Pandey said on Tuesday. India has shown a lot of resilience ever since the tariff war began to impact markets worldwide, Pandey said in...

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FII buying in India: Dollar weakness, US-India trade talks fuel buying frenzy

The last 9 trading sessions have been significant in terms of the FII action in Indian markets. Foreign institutional investors have bought over Rs 34,000 crore in Indian markets. This has been the longest continuous buying spree by the foreign investors since last September, 2024. The timing of this parti...

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Bond yields at a 3-Year low. Will interest rates move further down?

In 2025, the Reserve Bank of India (RBI) has, thus far, cut the policy rate by 50 basis points (bps) – 25 bps in February and another 25 bps in April. One basis point equals 0.01%. The policy repo rate currently is 6%. The easing of CPI inflation has nudged the central bank to cut rates and support economi...

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GLOBAL CORPORATE

From Carlsberg beer to Porsche sports cars: How US reciprocal tariffs are affecting global brands

US President Donald Trump’s ‘Liberation Day’ reciprocal tariff announcements have created uncertainty for countries and businesses. With US trade partners scrambling to strike bilateral treaties that may ease their tariff burden and bridge their trade imbalance with America, companies are broadly choosing to ...

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In US-China stand-off, why Washington is likely to blink first

In the unfolding “Mexican stand-off” between the United States and China, it is increasingly likely that Washington DC could back out. Indications of this were clearly evident when US President Donald Trump claimed over the weekend that he had spoken directly with Chinese President Xi Jinping on the trade iss...

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Trump's tariffs loom over American economy as shipments from China fall

American businesses are cancelling orders from China, postponing expansion plans and hunkering down to see what trade policy surprises President Donald Trump plans to spring on them next. The president's massive and unpredictable taxes on imports seem likely to mean emptier shelves and higher prices for Am...

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Trump to ease auto tariffs on US-made vehicles

In a reversal of his earlier stance, US President Donald Trump is set to sign an executive order relaxing portions of the 25% tariffs imposed on auto parts, specifically those used in vehicles manufactured within the United States. The move is designed to stimulate domestic car production and address growing ...

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Blackstone Explores $3 Billion Sale of Sustainability Software Firm Sphera, Sources Say

Blackstone is exploring a $3 billion sale of Sphera, a sustainability software and consulting services provider, according to three people familiar with the matter. The private equity firm has hired investment bankers at William Blair and Evercore to run the sale, which is in its early stages, said the peo...

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Samsung Says Trade Turmoil Raises Chip Business Volatilities, May Hit Phone Demand

South Korean technology giant Samsung Electronics warned on Wednesday U.S. tariffs could cut demand for products such as smartphones, making it difficult to predict future performance. Samsung said it expected its semiconductor business to encounter greater uncertainties throughout the year, while its smar...

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LG Energy Solution Flags Q2 Sales Decline as Automakers Hemmed in by Tariff Volatility

South Korean battery maker LG Energy Solution (LGES) on Wednesday said it expected revenue in the second quarter ended June to decline from Q1 partly due to uncertainties from U.S.-driven tariff policies. The announcement dragged LGES' shares down as much as 4.4% at midday (0300 GMT) compared to a 0.7% dro...

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Japan worries Trump's tariffs will push Asian nations towards China

US President Donald Trump’s tariffs could push Asian nations closer to China and destabilise regional security, Japan’s ruling party policy chief warned, calling for stronger defence ties between Washington and Tokyo. “Many Asian countries have taken the same stance toward China as the US and Japan, but t...

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Walmart tells Chinese suppliers to resume shipments amid US trade war

American retail giant Walmart has instructed its Chinese suppliers to resume shipping goods to the US, according to a report by the South China Morning Post. The development comes after weeks of global supply chain disruptions triggered by escalating US-China trade tensions after President Donald Trump an...

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Willing to cooperate with US cos after airlines rejected Boeing jets: China

China is willing to support normal cooperation with US companies, the country’s Ministry of Commerce said in a statement Tuesday, just days after Chinese airlines rejected taking delivery of any new jets from US planemaker Boeing Co. Officials in Beijing acknowledged that tariff hikes implemented by US Pr...

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S&P Global to separate its mobility division from parent to streamline biz

Ratings provider S&P Global said on Tuesday it plans to separate its mobility division, which sells data to vehicle manufacturers and automotive suppliers, into a separate public company in an attempt to streamline operations. The New York-based firm said its operations will consist of four core businesse...

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PayPal maintains annual revenue, profit estimates amid US trade uncertainty

PayPal beat Wall Street estimates for first-quarter earnings and stuck to its annual profit forecast on Tuesday, even at a time when U.S. President Donald Trump's tariffs have fueled economic uncertainty. The company's results show that consumers are continuing to spend despite worries that Trump's trade ...

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INCOME TAX

ITR forms 1, 4 notified for FY 2024-25 (AY 2025-26): Major overhaul in ITR Form 1 to include these long-term capital gain taxes, check what else has changed

The Central Board of Direct Taxes (CBDT) has notified the income tax return forms 1 and 4. The notification of the ITR forms have come after a long wait. The notified ITR forms are applicable for the financial year 2024-25 and the assessment year 2025-26. This means that incomes earned between April 1, 2024, ...

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GLOBAL ECONOMY

Trade Report
Country Month Link
Switzerland July 2019 Click
Trump tariff effect: US GDP expected to show sharp decline, analysts warn of possible recession

First-quarter US GDP figures to be released on Wednesday are expected to reveal a sharp slowdown — and possibly signal a recession — due to a spike in imports rushed in before president Donald Trump's broad tariffs took effect. ...

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US job openings fall to 7.2 million in March, the lowest level since September

Job openings in the United States fell in March as President Donald Trump's trade wars clouded the economic outlook. U.S. employers posted 7.2 million vacancies in March, down from 7.5 million in February and 8.1 million in Ma...

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US Consumer Confidence Plunges in April

U.S. consumer confidence slumped to a nearly five-year low in April as growing concerns over tariffs weighed on the economic outlook. The Conference Board said on Tuesday its consumer confidence index dropped 7.9 points to 86.0...

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Kenya to Cap Fiscal Deficit at 4.5% in FY 2025/26

Kenya will cap its fiscal deficit at 4.5% of GDP in 2025/26, down from 5.1% the previous year, and revise its initial budget of 4.3 trillion Kenyan shillings ($33 billion) substantially, its cabinet said on Tuesday. Last year m...

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Mexican Economy Seen Flat in First Quarter: Reuters Poll

Mexico's economy likely remained flat in the first three months of 2025 as a result of uncertainty generated by U.S. President Donald Trump's fluctuating tariff policies, a Reuters poll showed on Tuesday. Gross Domestic Product...

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UK Business Morale Drops as Concerns Over Tariffs, Economy Mount

British business sentiment fell to its lowest level in three months and employers were concerned about implications of U.S. tariffs and the wider economy as they grapple with higher employment costs, two industry surveys showed on...

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Japan March Retail Sales Rise 3.1% Year/year

Japanese retail sales rose 3.1% in March from a year earlier, slightly less than the median market forecast for a 3.5% increase, government data showed on Wednesday....

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Japan's Factory Output Slides as Trump Tariffs Jolt Manufacturers

Japan's factory output fell more than expected in March, dragged down by its key motor vehicles industry, as U.S. President Donald Trump's tariff policies rattle manufacturers and a whole host of industries globally. Japan's tr...

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China's Manufacturing Activity Falls in April, PMI Shows

China's manufacturing activity contracted in April, an official survey showed on Wednesday, reversing two months of recovery and keeping alive calls for further stimulus as Donald Trump's 145% tariffs called time on producers fron...

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INDIAN CORPORATE

Indian Oil agrees to five-year LNG deal with Trafigura, sources say

Indian Oil Corp , the country's top refiner, has agreed to a five-year liquefied natural gas (LNG) import deal with trader Trafigura, with prices linked to the U.S. Henry Hub benchmark, three trade sources said on Wednesday. Tr...

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Ambuja Cements PAT down 9% in Q4

Adani Group’s cement and building materials arm, Ambuja Cements, reported a 9% year-on-year decline in net profit attributable to owners for the fourth quarter of FY25, due to higher tax expenses.Profit attributable to owners stoo...

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Coca-Cola reports double-digit volume growth in India, helped by Thums Up

Soft drinks major The Coca-Cola Company witnessed "double-digit volume growth" in the Indian market in the March quarter, helped by home-grown brand Thums Up and Coca-Cola. Moreover, markets, including India, China, and Brazil...

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Foxconn India revenue tops $20 billion in FY25, staff strength hits 80K

Taiwanese electronics manufacturing major Foxconn is reported to have more than doubled its revenue in India to over USD 20 billion (about Rs 1.7 lakh crore) in the financial year 2024-25 on account of a jump in iPhone production,...

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Uncertainty could hit pvt sector capital formation: FinMin economic review

The prospect of protracted uncertainties in the global economic landscape not only pose a risk for India’s growth outlook in 2025-26, but are also likely to dent the private sector’s capital raising and investment plans, the finan...

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Bajaj Finance Q4FY25 results: Net profit rises 16% to Rs 3,940 crore

NBFC firm Bajaj Finance on Tuesday reported a 16 per cent rise in its standalone net profit to Rs 3,940 crore in the March 2025 quarter. It had registered a net profit of Rs 3,402 crore in the same period a year earlier. Tot...

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BPCL Q4 Results: Profit drops by 8.30% to Rs 4,391.83 crore, final dividend declared

Bharat Petroleum Corporation Ltd (BPCL) on Tuesday reported a profit decline of 8.30 per cent during the fourth quarter of FY25. Profit for the period stood at Rs 4,391.83 crore as against Rs 4,789.57 crore recorded during the cor...

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LG India postpones $15 billion IPO amid market uncertainty

LG Electronics India has deferred its much-awaited listing owing to stock market volatility, reported PTI, citing sources. Previously, in the second week of May, the South Korean giant Chaebol planned the IPO and subsequent li...

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