New Delhi, September 3,2026: India will announce the final details of its Bilateral Trade Agreement (BTA) with the United States only after Washington agrees to offer preferential tariff terms over India’s competitors, Commerce and Industry Minister Piyush Goyal said on Thursday.”As soon as the US is able to give us the preferential rate in comparison to our competition, we will finalise the BTA and announce the final details,” Goyal said, addressing a national workshop on Leveraging FTAs Outreach program.
The minister said the trade pacts India has already concluded are opening up significant export opportunities for domestic businesses.He added that India is on track to conclude several more trade agreements in the coming months and years, naming Canada, Mexico, Chile, the Brazil-led Mercosur bloc, the Southern African Customs Union (SACU), a South Africa-led group of nations, the six-member Gulf Cooperation Council (GCC), and Israel as prospective partners.India and the US have been holding talks for a mutually beneficial Bilateral Trade Agreement (BTA).During his June 22-24 visit to New Delhi, US Trade Representative Ambassador Jamieson Greer and Commerce and Industry Minister Piyush Goyal reviewed key elements of the agreement, including enhanced market access, digital trade, supply chain resilience, reduction of non-tariff barriers and cooperation in strategic sectors.Both sides had noted substantial progress by their negotiating teams and reaffirmed their commitment to an agreement that is balanced, commercially meaningful and delivers tangible benefits for businesses, farmers, workers and consumers in both countries.In February, India and the US had announced a framework for an Interim Agreement on reciprocal and mutually beneficial trade, reaffirming their commitment to the broader BTA negotiations.In the latest development in June, U.S. Trade Representative Ambassador Jamieson Greer led a delegation to New Delhi to meet Union Minister of Commerce and Industry Piyush Goyal, reviewing core BTA elements and pushing forward the interim deal.For 2025, India’s total goods exports to the U.S. reached USD 103.82 billion, while U.S. exports to India totalled approximately USD 45.6 billion, for a total bilateral trade of USD 149.42 billion.The bilateral services trade in 2025 was recorded at USD 92.23 billion, where India exported USD 48.67 billion worth of services to the US and imported USD 43.56 billion worth of services from the US.
New York, May 15,2026: The U.S. Securities and Exchange Commission on Thursday (local time) settled a civil lawsuit against Adani Group Chairman Gautam Adani, subject to court approval, reported Reuters citing court records. According to media reports, Court documents show that Gautam Adani agreed to pay civil penalties of $6 million, while his nephew Sagar Adani, agreed to pay $12 million. The proposed settlement doesn’t include an admission of guilt, said news reports. The US SEC had earlier alleged that Gautam Adani, Sagar Adani and others orchestrated an alleged USD 250 million-plus bribery scheme between 2020 and 2024 to secure solar energy contracts in India.On April 8, the U.S. District Court for the Eastern District of New York had accepted a plea filed by the counsels for Gautam and Sagar Adani for a pre-motion conference to dismiss the case.The councils for Gautam and Sagar Adani informed that they intended to seek to dismiss the US SEC’s complaint and, as part of this process, have submitted a letter with the East District New York (EDNY) judge informing the Court that the Defendants are prepared to attend a pre-motion conference should the Court wish to schedule one.In the letter, the Defendants briefly set out their grounds for dismissal of SEC’s complaint, including that the court concerned lacks personal jurisdiction over the Defendants and the claims against them, the SEC’s claims are impermissibly extraterritorial, the alleged misstatements by the Defendants are too vague and general for any reasonable investor to rely upon as a guarantee of any concrete fact or outcome, making them in-actionable, and the Defendants’ lack of involvement in the transaction bars the SEC’s claims against them.According to the counsels, in September 2021, AGEL conducted a USD 750 million bond offering pursuant to SEC Rule 144A and SEC Regulation S, which are registration exemptions for private resales to qualified institutional buyers (QIBs) and non-US sales. AGEL sold these bonds outside the US through an agreement to non-US underwriters, who then resold the Notes to QIBs. A fraction of those resales is alleged to have been made to “investors in the United States”. AGEL was not a party to these transactions, the lawyers said in the letter to the court.The defendants said that the grounds for dismissal also include the SEC’s failure to state a claim on the basis that the defendants are neither based in the US nor conduct activities there that would grant the court jurisdiction and the alleged actions involve non-US entities outside the scope of US law.The defendants also said that even if the claims are accepted at face value, the complaint fails to establish any actionable legal violation or meet the threshold required to proceed.The defendants said that the Court lacks personal jurisdiction over defendants and the claims against them should be dismissed under Rule 12(b)(2).The claims according to the lawyers “involve Indian Defendants, an Indian issuer, securities not registered with the SEC and not traded on U.S. exchanges, and underlying conduct alleged to have occurred exclusively in India.”The councils said, the SEC has not alleged underwriters who purchased the bonds from AGEL were US institutions as they were not, or that the Subscription Agreement underlying the purchases was governed by US law as it wasn’t.Meanwhile, a New York Times Report on Thursday (local time) had claimed that the US Justice Department is contemplating dropping charges against Gautam Adani.The report said that this move has come after Adani hired a new legal team led by Robert J Giuffra Jr. who is part of Sullivan & Cromwell LLP. Giuffra Jr. is also one of US President Donald Trump’s personal lawyers, says the NYT Report.The report further suggests that Giuffra had a meeting last month at the Justice Department’s headquarters in Washington. Citing people familiar with that meeting NYT reports that the council outlined why prosecutors lacked evidence and even jurisdiction to bring the case. The report claims that the council also suggested that Adani could be willing to invest USD 10 billion in the American economy creating 15,000 jobs should the charges be dropped.NYT reported that prosecutors told the council that such an investment would not have a bearing on the case. However, the council’s offer did get a favourable response from one Justice Department official reported NYT citing people familiar with the meeting.
February 3, 2026: The India-US trade agreement announced on February 3, 2026, is being viewed as a reset in bilateral economic relations, easing tariff-related uncertainty and improving visibility for exporters, manufacturers, and global investors. However, details on the extent of the commitments from India are still awaited.
The deal, which reduces US tariffs on Indian goods from 50 percent to 18 percent, removes what businesses had described as a lingering “tariff overhang” and is expected to strengthen India’s trade competitiveness at a time of fragile global demand.
Business executives, economists, and market stakeholders say the move restores predictability for cross-border commerce and could unlock delayed investment decisions across manufacturing and supply-chain-linked sectors.
India’s Prime Minister Narendra Modi hailed the agreement as a reaffirmation of robust bilateral ties, while US President Donald Trump highlighted commitments from India to increase purchases of American energy, technology, agricultural goods, and manufacturing inputs as part of broader efforts to address trade imbalances and strengthen economic integration.
At the center of the India-US trade agreement is a notable rollback of 2025 US tariffs on Indian exports, a step that analysts say will directly support margin stability for exporters while improving planning certainty for multinational firms operating production bases in India.
India’s Union Commerce and Industry Minister Piyush Goyal described the trade deal as a catalyst for “unprecedented opportunities” for farmers, medium-small and micro enterprises (MSMEs), entrepreneurs, and skilled workers, positioning India to export competitive products globally while attracting technology transfers that could turbo-charge domestic manufacturing and innovation.
According to Goyal’s remarks reported by PTI and other major media outlets, the agreement is expected to:
Expand market access for Indian agricultural products and processed goods.
Strengthen the Make in India and Design in India initiatives by expanding global footprints.
Facilitate technology collaboration with US partners in key sectors.
Create jobs and scale exports in manufacturing, services, and technology segments.
Beyond commercial flows, the agreement also carries geopolitical significance. Latest reports note that India has agreed to curb Russian oil purchases as part of the broader negotiations, potentially signaling a gradual shift toward deeper economic alignment with the US.
Details on the exact scale of India’s reduced Russian oil imports and any corresponding increase in US agricultural exports are still awaited, but analysts see the agreement as strengthening India’s strategic positioning within global supply chains.
Potential upside for GDP growth, markets, and manufacturing
From a macroeconomic perspective, the tariff reduction is expected to support India’s GDP growth trajectory while providing a tailwind to equity markets, particularly export-facing and manufacturing-linked stocks.
Market watchers point to possible spillover benefits across electronics, industrial goods, and downstream services, especially as firms reassess sourcing strategies amid ongoing geopolitical fragmentation.
For lenders, improved trade conditions could translate into healthier corporate balance sheets, stronger demand for working capital, and increased appetite for long-term project financing, particularly in sectors aligned with India’s production-linked incentive (PLI) programs and infrastructure expansion drive.
Though detailed lists of tariff schedules and market access commitments are still being clarified by the central government authorities, exporters, including rice, marine products, textiles, and engineering goods firms, have welcomed the relief from punitive tariff regimes and anticipate renewed demand from the US market.
Analysts see the US pact complementing India’s wider trade strategy, which also includes diversification through FTAs with other partners – most recently, New Zealand and the EU. India has also signed an economic partnership agreement with Oman to grant zero-duty access on most goods, boosting exports across engineering, leather, textiles, and pharmaceuticals.
India was among the first countries to open trade discussions with the Trump administration, but negotiations progressed unevenly through 2025 amid speculation over whether a deal would materialize.
For multinational firms with India-based manufacturing or sourcing operations, the deal delivers three immediate advantages:
Reduced tariff risk, improving margin visibility on US-bound exports
Greater policy certainty, supporting medium-term capacity and location planning
Improved investor sentiment, which could lower financing costs and speed up project approvals
India-US trade deal: Sectoral impacts and industry views
While the official deal’s specifics on agricultural tariff liberalization are still emerging, US agricultural officials have highlighted the potential for increased American farm exports to India, which Washington believes will narrow the US agricultural trade deficit and inject fresh demand into rural markets.
Domestic industry bodies in India have also noted potential new openings for products like rice and marine exports, with exporters welcoming tariff relief as a competitive advantage.
Manufacturing and MSMEs
Export-oriented industries such as engineering, electronics, textiles, and leather goods are expected to benefit from reduced tariff pressure, enabling Indian producers to better compete with regional rivals like Vietnam, Bangladesh, and Malaysia.
Trade associations such as EEPC India have already hailed the deal as a boost to engineering exports, while MSME groups anticipate stronger integration into cross-border supply chains.
Financial markets and investment sentiment
Financial markets reacted positively to the announcement, with benchmark indices rising and risk sentiment improving as trade uncertainty eased. Macroeconomic analysts see the agreement as potentially supporting GDP growth by lifting export momentum and attracting foreign direct investment (FDI) into manufacturing and technology sectors.
What’s next and implementation challenges
While the tariff truce is being celebrated, parties on both sides acknowledge that the full implementation schedule, product lists, and timelines remain to be formalized through executive orders, cabinet approvals, and regulatory mechanisms.
Industry experts note the necessity for clarity on tariff phase-downs, rules of origin, and non-tariff measures to fully unlock the deal’s potential. Continued consultations between Indian trade negotiators and US counterparts are expected in the coming months to firm up operational details.
Key questions and business implications of the India-US tariff reset
The introduction of an 18 percent reciprocal tariff provides partial relief, particularly for sectors such as apparel and gems and jewelry, which were among the most affected by higher US duty rates. However, the benefit is relatively limited when viewed in a regional context. Several of India’s neighboring countries and key Asian competitors continue to enjoy preferential market access under the US Generalized System of Preferences (GSP), typically amounting to duty concessions of around 5 percent. The US withdrew India’s GSP status in 2019 during President Trump’s first term, and Indian exporters had therefore anticipated a lower reciprocal tariff closer to 15 percent to restore competitive parity.
In a social media statement, Trump indicated that Modi had committed to significantly expanding purchases of US-origin goods, including energy, technology, agriculture, coal and other products, with the total value exceeding US$500 billion. India’s Ministry of External Affairs (MEA) has not confirmed whether such a commitment has been formally made. Given the magnitude of the figure, any such procurement would likely be phased over several years rather than executed as a near-term obligation.
Recent developments around Iran-related sanctions reflect regulatory tightening rather than a policy reversal by New Delhi. On February 4, 2025, the US administration issued National Security Presidential Memorandum-2 (NSPM-2), directing the US Secretary of State to modify or rescind sanctions waivers that could provide Iran with economic or financial relief, including those linked to the Chabahar port project. Subsequently, on September 16, 2025, the US State Department revoked the 2018 waiver, effective September 29, 2025.
India has invested nearly US$120 million in equipment for Chabahar, a project that has played a critical role in enabling humanitarian and emergency assistance to Afghanistan. Following representations by New Delhi, the US Department of the Treasury issued a letter on October 28, 2025, confirming that Chabahar-related activities will not be subject to US sanctions until April 26, 2026.
The Government of India remains actively engaged with the US State Department and Treasury to operationalize this arrangement. Taken together, these developments point to a more constrained and negotiated operating environment for India’s regional connectivity strategy, rather than any capitulation to US sanctions pressure.
Export-oriented sectors such as engineering goods, electronics, textiles, leather, agriculture, and marine products are likely to see the most immediate gains. Reduced tariffs improve price competitiveness in the US market, particularly against Asian peers like Vietnam, Bangladesh, and Malaysia.
For global firms sourcing or manufacturing in India, the agreement reduces tariff risk on US-bound exports, improves margin visibility, and strengthens the case for expanding India-based production and supply chains.
While the tariff reduction restores near-term predictability, detailed tariff schedules, product coverage, and timelines are still awaited. Full policy certainty will depend on the finalization of operational and regulatory details.
7. How could the agreement affect India’s GDP growth and employment?
By supporting exports, manufacturing output, and investment sentiment, the deal is expected to provide a positive impulse to GDP growth and job creation, particularly in manufacturing, logistics, and export-linked services.
The US deal complements India’s wider diversification strategy, which includes recent trade agreements with New Zealand, the EU, and Oman, aimed at expanding export markets and reducing dependence on any single geography.
Sept 22,2025: The goods and services tax (GST) rate rationalisation announced by the GST Council earlier this month will come into effect today, on September 22, 2025.
Union Finance Minister Nirmala Sitharaman said the Council approved revision of GST slabs from four (5 per cent, 12 per cent, 18 per cent, and 28 per cent); to two (5 per cent and 18 per cent), plus a special rate of 40 per cent on select items and sin goods.
‘Relief for middle-class’: Nirmala Sitharaman
Termed as a “Diwali gift” to consumers, Sitharaman said the aim of the new reforms is to bring relief to the middle class. “In common man and middle class items, there is a complete reduction,” she stated.
“This reform is not just about rationalising rates. It’s also on structural reforms. It’s also about ease of living, so that businesses can conduct their operations with the GST with great ease. We’ve reduced the slabs. There shall be only two slabs, and we are also addressing the issues of compensation cess,” the finance minister added.
GST rate: What items get cheaper?
As many as 375 items, including automobiles, electronics, equipment, kitchen staples and medicines, are set to get cheaper for you from today.
Food items that will see reduced prices include beverages containing milk, coffee, condensed milk, biscuits, butter, cereals, corn flakes, drinking water packed in 20-litre bottles, dry fruits, fruit pulp or fruit juice, ghee, ice cream, jam and fruit jellies, ketchup, namkeen, paneer, pastry, sausages and meat, and tender coconut water, among others.
Other daily items such as after-shave lotion, face cream, face powder, hair oil, shampoos, shaving cream, talcum powder, toothbrush, and toilet soap bars could see reduction in prices.
In electronics, the items that will see price cuts include, airconditioners (ACs), diswashers, televisions (TVs), and washing machines.
Cost of medicines will come down for the common man, GST for medical devices such as diagonistic kits and glucometers has been cut to 5 per cent, which could lead to price cuts as well. The government has already directed pharmacies to revise their MRP or sell medicines at a lower rate after taking into account GST cut benefits, according to a PTI report.
In the beauty and physical well-being services, GST has been slashed for barbers, fitness centres, health clubs, salons, and yoga, which could be passed to the end customers.
For homebuyers, GST on cement has been reduced from 28 per cent to 18 per cent, which is likely to lead in lower home prices.
The biggest beneficiary has been the auto space, where effective tax including cess has been reduced from 35-50 per cent to flat 40 per cent.
Notably, after the GST rate cut announcement, several consumer brands announced reduction in the prices of their goods, including Amul, HUL, L’Oréal and Himalaya. Auto brands also rushed to announced the “Diwali” rate reductions from September 22, 2025.
New Delhi, Sep 9,2025: Communications Minister Jyotiraditya Scindia today unveiled the UPI-UPU integration project at the 28th Universal Postal Congress in Dubai.
It is a landmark initiative set to transform cross-border remittances for millions worldwide.
This initiative, developed by the Department of Posts (DoP), NPCI International Payments Limited (NIPL) and the Universal Postal union (UPU), aims to integrate India’s Unified Payments Interface (UPI) with the UPU Interconnection Platform (IP).
Addressing the event, the minister called it “ more than a technology launch, but a social impact.”
“The reliability of the postal network combined with the speed of UPI means families across borders can send money faster, safer, and at much lower cost. It reaffirms that public infrastructure built for citizens can be linked across borders to serve humanity better,” the minister said.
Scindia highlighted India’s vision for a modern, inclusive postal sector, anchored in four verbs.
“To connect through seamless data-driven logistics; to include by delivering affordable digital financial services to every migrant and digital enterprise; to modernise with AI, DigiPIN and machine learning; and to cooperate through South-South partnerships with a UPU-backed technical cell.”
Highlighting India Post as a powerful example of scale and inclusion, under the vision of Prime Minister Narendra Modi’s Digital India, the minister added, “ With Aadhaar, Jan Dhan and India Post Payments Bank, we have opened over 560 million accounts, most in women’s names. India Post delivered over 900 million letters and parcels last year. This is the scale and spirit of inclusion we bring to the global stage.”
The Minister also announced financial support, committing 10 million dollars during this cycle to channel technology into innovation, with special focus on e-commerce and digital payments.
Taking forward the motto of ‘Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas’, he reiterated how India stands ready with resources, expertise, and friendship.
Scindia also announced India’s candidature for the Council of Administration and Postal Operations Council of the UPU.
Concluding his address, the minister said, “ India comes to you not with proposals, but with partnership. We believe in resilience, enabling interoperable solutions that avoid costly fragmentation, and in trust, linking payments, identity, addressing, and logistics so that global commerce becomes seamless.”
New Delhi, Feb 28,2025: India and the European Union on Friday held the second Trade and Technology Council meeting here as well as the bilateral cluster meeting with the visiting EU Commissioners, ahead of bilateral talks between PM Narendra Modi and European Commission President Ursula von der Leyen.
External Affairs Minister S Jaishankar, who participated in both the meetings, posted on X:
“Participated in the 2nd India – EU Trade and Technology Council meeting along with my cabinet colleagues @PiyushGoyal -Commerce Minister Piyush Goyal – and @AshwiniVaishnaw – Railways and Electronics and Information Technology Minister Ashwini Vaishnaw.
“Thank @HennaVirkkunen – Henna Virkkunen, Executive Vice-President for Tech Sovereignty, Security and Democracy of the European Commission, @MarosSefcovic – Maroš Šefčovič, Commissioner for Trade and Economic Security as well as Interinstitutional Relations and Transparency, and @EZaharievaEU – Ekaterina Zaharieva, EU Commissioner for Startups, Research and Innovation- for their partnership.
“Took stock of the significant progress made in digital partnership, clean & green energy initiatives and trade, investments & resilient supply chains.
“Exchanged views on new opportunities in semiconductors, AI, 6G, EVs, Green Hydrogen and a mutually beneficial trade regime.
“Confident that today’s discussions will translate into new economic, trade and tech linkages.”
On the Bilateral Cluster meeting, he posted:
“Pleased to participate in the India-EU bilateral cluster meeting this morning alongside Commissioners @JozefSikela – Jozef Síkela, EU Commissioner for International Partnerships, @dubravkasuica -Dubravka Suica, EU Commissioner for the Mediterranean and for Demography, @MartaKosEU – Marta Kos, European Commissioner for Enlargement, @magnusbrunner – Magnus Brunner, EU-Commissioner for Internal Affairs and Migration, of @EU_Commission and my colleagues @KVSinghMPGonda Kirti Vardhan Singh, MoS External Affairs, & @nityanandraibjp – Nityanand Rai, Minister of State for Home Affairs.
“Our conversation focused on connectivity and IMEC, green and clean energy, mobility and talent, security, Mediterranean and EU expansion.”
Washington/New Delhi, Oct 3,2024: The 6th India-US CEO Forum, co-chaired by Union Commerce Minister Piyush Goyal and US Secretary of Commerce Gina Raimondo, was held in Washington on Wednesday during which discussions focused on tech and R&D collaboration in critical sectors such as defence, space, semiconductors, telecom, AI and clean energy.
Minister Goyal in a post on X said:
“Held a productive meeting with the US Secretary of Commerce @SecRaimondo, over lunch on the sidelines of the India-US CEO Forum.
“Our discussions focused on prospects of tech and R&D collaboration in critical sectors such as defence, space, semiconductors, telecom, AI and clean energy.
“We also discussed opportunities for US investments in upcoming 20 industrial cities in India to foster mutual growth.”
The India-US CEO Forum is a platform that convenes leaders of the U.S. and Indian business communities to develop and provide joint recommendations to strengthen bilateral commercial ties and expand trade and investment between India and the United States.
During the meeting, U.S. and Indian government representatives and CEO Forum members reaffirmed their commitment to expanding bilateral commerce and trade, driving inclusive economic growth and innovation, and fostering a resilient bilateral partnership, a statement from the US Department of Commerce said.
The Secretary and the Minister thanked James Taiclet, President and Chief Executive Officer, Lockheed Martin, and N. Chandrasekaran, Chairman, Tata Sons, for their leadership as Private Sector Co-Chairs from 2023–2024. They noted, with appreciation, the recommendations made by the Forum members over the past two years and their respective initiatives.
They also took stock of the Forum’s accomplishments, including the launch of the publicly accessible Network for Innovation and Harnessing Investments and Trade for Inclusive Growth between the United States and India (NIHIT) Platform to facilitate online knowledge sharing and networking among U.S. and Indian startups and small businesses. To date, NIHIT has organized four workshops to promote capacity building and skilling in cybersecurity, digital technologies, and AI, which have been attended by over 1,000 startups, small businesses, and entrepreneurs.
CEO Forum members, which represent a total of 22 U.S. companies and 25 Indian companies, have also made a series of recent announcements demonstrating their commitment to advancing U.S.-India commercial engagement:
Lockheed Martin and Tata Advanced Systems Limited’s recent signing of a teaming agreement on the C-130J Super Hercules aircraft. The agreement creates a framework to (1) establish a new maintenance, repair, and overhaul facility in India to support the Indian Air Force’s (IAF) fleet and other global fleets of C-130J Super Hercules aircraft; and (2) expand the manufacturing and assembly of these aircraft in India to support the IAF’s Medium Transport Aircraft program.
Kyndryl Inc.’s collaboration with Indian microfinancier CreditAccess (CA) Grameen to deliver advanced technology services needed to digitize and transform CA Grameen’s microloan processing business, enabling more than 2 million women borrowers to have easy and fast access to credit in rural India.
Amneal Pharmaceutical’s announcement this week of the launch of medicines in several new therapeutic areas and the groundbreaking of a state-of-the-art peptide manufacturing facility in Ahmedabad, India.
Honeywell International’s delivery and commissioning in September of a 1.4 MWh Battery Energy Storage System (BESS) for the Solar Energy Corporation of India’s project on the Lakshadweep Islands, which is India’s first on-grid solar initiative using BESS to manage the supply of renewable power.
Pfizer’s launch in September of its first commercial analytics center in India, called the “Analytics Gateway,” which will harness AI and best-in-class data science to improve Pfizer’s analytics of international markets and help it deliver more of its medicines to patients in need in India and around the world.
Viasat’s MOU on Space Collaboration, signed in September with the Government of India, to set a roadmap for collaboration on the development of next-generation space technologies between the two parties to deliver high-speed and high-capacity internet services to users in India and internationally.
Otis Worldwide’s groundbreaking in August of an expansion to its manufacturing facility in Bengaluru, India. The expansion will double the company’s current escalator production capacity and help it further support metro projects and other residential, commercial and infrastructure development throughout India through the sale of elevators and escalators.
Sept 16,2022:The government has revised the definition of small companies by increasing their threshold for paid up capital and turnover.
The definition of small companies was earlier revised under the Companies Act, 2013 by increasing their limit for paid-up capital from Rs 50 lakh to Rs 2 crore and turnover from Rs 2 crore to Rs 4 crore.
Similarly, the turnover threshold has been revised to “not exceeding Rs 40 crore” from “not exceeding Rs 20 crore”, the ministry said in a release on Friday.
The revisions will allow more entities to come under the category of small companies.
According to the ministry, small companies are exempted from the requirement to prepare cash flow statement as part of financial statement and can file an abridged annual return.
They will not be required to have the mandatory rotation of auditors.
An auditor of a small company is not required to report on the adequacy of the internal financial controls and its operating effectiveness in the auditor’s report, and such companies need to hold only two board meetings in a year, the release said.
Other advantages are that there are lesser penalties for small companies and annual returns of such entities can be signed by the company secretary, or where there is no company secretary, by a director of the company.
“Small companies represent the entrepreneurial aspirations and innovation capabilities of lakhs of citizens and contribute to growth and employment in a significant manner.
“The government has always been committed to taking measures which create a more conducive business environment for law-abiding companies, including reduction of compliance burden on such companies,” the release said.
In recent times, the government has taken various measures, including decriminalisation of various provisions under the companies law, to further improve the ease of doing business in the country.
Washington [US], November 18 ,2021: US-India Strategic Partnership Forum Chief Mukesh Aghi has said that the Trump administration was very close to the mini trade deal with India, but now the domestic politics in America is “much more complicated”.
“With Trump administration, we were very close to the mini trade deal. I think to show some kind of success in early harvesting. It is important that India-US agree where it was left with the Trump administration to close that out to build the momentum itself. But the domestic politics in the US is now much more complicated,” Aghi told ANI on Wednesday (local time).
Commenting further on the Biden administration, US-India Strategic Partnership Forum Chief said, “The progressive Left inserts labour rights, they talk about human rights, religious freedom, and I think if you start pushing those into a trade deal, you will not get a trade deal.”
US and India have agreed to take a comprehensive look at ways to expand the bilateral trade relationship.
In a virtual meet, US Trade Representative Katherine Tai and India’s Minister of Commerce and Industry, Piyush Goyal had looked forward to their upcoming meetings in New Delhi (November 22-23).
Both leaders agreed to take a comprehensive look at ways to expand the bilateral trade relationship and ensure the future success of the US-India Trade Policy Forum, read Tai’s statement.
New Delhi, Sep 11,2021: The government has notified transfer of sale-bound Air India’s capital assets to Air India Assets Holding Company Ltd (AIAHL), the special purpose vehicle (SPV) created for warehousing part of airline’s loans, four of its subsidiaries, non-core assets, paintings & artifacts and other non-operational assets.
The move is being seen as a prelude to the national carrier’s imminent privatisation.
A senior Air India official said that the government has now completely stripped the airline of its assets and in case disinvestment does not go through it will have no assets to fall back on.
In its notification effecting the transfer of assets, Central Board of Direct Taxes (CBDT) in a notification said, “This notification shall come into force with effect from April 1, 2022 and shall, accordingly, apply in relation to the assessment year 2022-2023 and subsequent assessment years.”
The last date for the financial bid of Air India is September 15, 2021 and Tata group is being seen as the potential buyer.