27 MoUs worth over ₹66,000 crore signed to boost India's maritime sector (Business Standard)
India’s maritime sector is set for a historic transformation, as Prime Minister Modi and key Union ministers inaugurated over 27 MoUs worth more than ₹66,000 crore, covering high-capacity ports, green shipbuilding clusters, water metros, and international collaborations aimed at positioning India as a global maritime hub. According to the Ministry of Ports, Shipping and Waterways, the event was addressed by Prime Minister Modi, and the MoUs were signed on September 18 in the presence of Union Minister Sarbananda Sonowal, Dr Mansukh Mandaviya, and Shantanu Thakur, highlighting strong governmental backing for the sector. Projects like the new Bahuda port in Odisha, Patna’s Water Metro, and state-of-the-art shipbuilding facilities in Kochi, Thoothukudi, and Gujarat are designed to generate over 1.5 lakh jobs, boost industrial growth, and promote sustainable, technologically advanced maritime infrastructure, signaling India’s commitment to Atmanirbhar Bharat while steering the country toward a leading role in global shipping, trade, and shipbuilding by 2047.
US commerce secy calls for India to open mkts, stop actions harming America (Business Standard)
US Commerce Secretary Howard Lutnick has urged India to “react correctly” by opening its markets and avoiding actions that could harm American interests, emphasising that cooperation is essential for selling to US consumers and maintaining smooth trade relations. His comments come amid a recent high-level visit to the US by Commerce Minister Piyush Goyal, during which the Indian delegation held constructive discussions with key officials, including the US Trade Representative and the Ambassador-designate, to strengthen bilateral trade and investment ties. Both sides agreed to continue talks to expedite a mutually beneficial Bilateral Trade Agreement, signalling cautious optimism for resolving outstanding trade issues between the two countries over time.
US tariffs pose major risk to India's growth: Crisil Intelligence (The Economic Times)
Crisil Intelligence has flagged that high US tariffs on Indian goods could weigh on exports and investments, posing a risk to the country’s growth, even as domestic consumption—supported by low inflation and rate cuts—remains a strong buffer. India’s GDP hit a five-quarter high of 7.8% in Q1 of fiscal 2025-26, though nominal growth slowed to 8.8%, while CPI inflation is expected to ease to 3.5%, aided by healthy agricultural output, lower crude prices, and stable global commodities. The RBI is likely to deliver one more rate cut this fiscal to support growth, following the 100-basis-point reductions earlier in the year, before pausing to assess the full impact of previous monetary easing.
