₹25K-cr fund to be passed to grow blue water economy (mint)
The government is considering a proposal for a Maritime Development Fund valued between ₹20,000 crore and ₹25,000 crore to support indigenous shipbuilding and blue water infrastructure, with a mix of debt, equity, and other financial support methods. The fund will feature a corporate structure with the government holding a minority stake of 26% to 49%, while the majority will be held by global financial institutions. The initiative aims to boost India’s maritime sector, reduce reliance on foreign ship leasing, and increase the country’s share in global shipbuilding, with a goal of achieving up to 5% of the world's tonnage.
‘India, UAE to review trade deal in talks’ (mint)
Indian and UAE officials will review their Comprehensive Economic Partnership Agreement (CEPA) this week due to concerns about a surge in precious metal imports from the UAE. The review, scheduled during a visit by Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed Al Nahyan, aims to address Indian industry complaints and ensure compliance with the agreement's rules of origin. While the review is part of regular discussions, it reflects growing scrutiny of the trade pact’s impact.
India-UK FTA talks may resume in Oct (mint)
Negotiations on a UK-India Free Trade Agreement (FTA) are set to resume next month after a review of progress, with a focus on contentious issues such as migration, mobility, and visa regulations under the new Labour government led by Prime Minister Keir Starmer. The fourteenth round of talks, which were paused due to elections in both countries, aims to address these sticking points and finalize the agreement. With most issues nearly resolved, the review could lead to adjustments in terms previously negotiated with the former Rishi Sunak administration.
Solar panel exports stagnate in Q1 (Financial Express)
India's solar panel exports to the US, its sole buyer, have plateaued in the first quarter of the current financial year, falling 0.8% year-on-year to $450 million, due to increased US tariffs and protectionist measures. This slowdown follows a 90% growth in exports during FY24, driven by rising tariffs on solar cells and modules and an anti-dumping investigation targeting several countries. In contrast, smartphone exports continue to rise, with a 31.6% increase in the same period, reaching $4.9 billion, and making up over 40% of shipments to the US.
Drug formulation market in India to grow at 10% (The Asian Age)
The drug formulations market in India is expected to grow at a CAGR of 9-10% over the next decade, with Jan Aushadhi outlets anticipated to significantly impact the market by contributing up to 30% of the volume and potentially accounting for ₹4,000-5,000 crore in value. The market, currently valued at ₹2 lakh crore, has grown at 11% annually over the past two decades, with Jan Aushadhi aiming to expand to 25,000 outlets by 2026. Despite the rise of generics and Jan Aushadhi, branded generics are projected to remain dominant, comprising 65-70% of the market value and growing at over 8% CAGR.
