Daily News - Wednesday, 19 February 2025
India, Qatar to double trade in 5 yrs as strategic partners (mint)
India and Qatar upgraded their relationship to a strategic partnership, aiming to double bilateral trade to $30 billion by 2030, with Qatar committing $10 billion in investments across infrastructure, energy, food processing, and technology sectors. Key agreements include a revised tax treaty, MoUs on economic cooperation, and an LNG supply deal securing 7.5 million metric tonnes annually for 20 years from 2028, reinforcing Qatar’s position as India’s top LNG and LPG supplier. Both leaders discussed regional security, trade diversification, and mutual market access, signaling a deeper economic and diplomatic engagement between the two nations.
Goyal hints at more tariff relief for the US under trade deal (The Indian Express)
India and the US are negotiating a bilateral trade agreement (BTA) to boost trade from $200 billion to $500 billion by 2030, with discussions on tariff reductions and market access for goods and services. India has already lowered import duties on high-end cars (from 125% to 70%), motorcycles (from 100% to 70%), and bourbon whiskey (from 150% to 50%) to signal its openness to a deal. The first phase of the BTA is expected to be finalized within eight to nine months, reflecting both countries’ intent to strengthen economic ties amid shifting global trade dynamics.
Tesla job posts signal India entry (The Indian Express)
Tesla has initiated recruitment in India for 13 roles across Mumbai and Delhi, signaling its potential market entry following a meeting between CEO Elon Musk and Prime Minister Narendra Modi. This move aligns with India’s new EV policy, which slashes import duties on completely built EVs to 15% (from 70-100%) for automakers investing at least $500 million and meeting localisation targets of 25% in three years and 50% in five years. Tesla’s hiring suggests confidence in the policy framework, allowing it to test the Indian market with up to 40,000 imported EVs before committing to local production.
Economy expected to grow 6.4% in Q3: Icra (Financial Express)
ICRA projects India’s GDP growth at 6.4% for Q3 FY25, recovering from a seven-quarter low of 5.4% in Q2, driven by increased government spending, strong services exports, and a turnaround in merchandise exports. The festive season boosted consumer-focused sectors, while mining and electricity rebounded from weather-related disruptions, though urban consumer sentiment remained slightly weak. Despite this recovery, overall economic performance is expected to lag behind the NSO’s initial Q1 FY25 estimates, reflecting uneven consumption trends.
Demand for Indian workers set to rise (Financial Express)
India’s international employment prospects remain strong, with 3 million Indian workers expected to secure jobs in seven key countries—Saudi Arabia, Oman, Qatar, Japan, Germany, Australia, and Finland—by 2030, driven by demand in construction, healthcare, logistics, and manufacturing. Saudi Arabia is projected to provide over 2 million jobs, while Germany alone seeks 200,000–300,000 Indian workers within five years to address its skilled labor shortage, expected to reach 7 million by 2035. The Indian government, in collaboration with CII, is developing a framework for mutual recognition of skills to enhance global mobility, while emerging job markets in Europe, Africa, and Southeast Asia further expand opportunities for Indian workers.
