Daily News - Tuesday, 5 August 2025
US tariffs may hit India’s factory targets: Moody’s (Financial Express)
Moody’s has warned that the US’s imposition of a 25% reciprocal tariff on Indian exports could significantly dent India’s manufacturing ambitions, especially in advanced sectors like electronics, where global market access is vital. While the tariff is slightly lower than earlier proposed rates and may still be subject to negotiation, it adds to the risks already posed by a sluggish global trade environment and declining investment flows, particularly from the US and China. Still, the services sector remains a bright spot, with analysts noting that India’s strength, scale, and reduced exposure to US trade friction make it less vulnerable overall, and the broader growth trajectory may not be seriously disrupted.
Russian crude flows to India despite US, EU pressure (Financial Express)
Even as Western nations increase diplomatic and economic pressure, India continues to import large volumes of Russian crude, with multiple tankers delivering over 5 million barrels to Indian ports in just one weekend. Key refiners like Reliance, Nayara, BPCL, and MRPL are sustaining these flows, leveraging long-term supply contracts and India’s position as the world’s largest buyer of Russian seaborne oil, despite the threat of sanctions and global scrutiny. The continuation of these shipments underscores India’s strategic balancing act—safeguarding its energy security while navigating complex geopolitical tensions—and signals that for now, economic interests are trumping external political pressure.
New rules launched for import of drugs (Financial Express)
India’s Central Drugs Standard Control Organisation (CDSCO) has introduced new guidelines for importing non-medicinal drugs in bulk, aimed at streamlining the process for obtaining No-Objection Certificates (NOCs) and reducing regulatory ambiguity for products used in both food and pharmaceuticals. Under the new system, importers will need to register on the Sugam portal and follow a more structured, two-step approval process involving zone-specific evaluations and separate filings for each consignment. Expected to go live by August end, the move is intended to improve transparency, reduce delays, and ease the compliance burden faced by businesses importing items like chemicals, cosmetics, and dual-use substances.
Niti Aayog flags India’s slower adoption of EVs (Financial Express)
Despite setting an ambitious target of 30% electric vehicle (EV) penetration by 2030, India is lagging behind at under 8%, prompting Niti Aayog to raise red flags about the pace of progress and call for a strategic shift in its EV approach. While EV sales have grown impressively—from just 50,000 units in 2016 to over 2.1 million expected in 2024—the adoption of electric buses, trucks, and larger segments remains sluggish due to high upfront costs, limited financing, and policy fragmentation. To address this, Niti Aayog has proposed a national EV policy with clear mandates, targeted R&D support, and blended financing solutions to unlock $200 billion in opportunities and accelerate the transition to zero-emission mobility across India’s urban landscape.
