Daily News - Tuesday, 7 October 2025
India-Qatar bilateral trade can be doubled by 2030, says Piyush Goyal (Business Standard)
During his official visit to Doha, Commerce and Industry Minister Piyush Goyal co-chaired the India-Qatar Joint Commission with his Qatari counterpart, where both sides reviewed trade relations, resolved market access issues, and committed to deepening cooperation across key sectors such as finance, healthcare, and renewable energy. They agreed to pursue a Comprehensive Economic Partnership Agreement and aimed to double the current USD 14 billion bilateral trade by 2030, with India pushing to expand exports in areas like electronics, pharmaceuticals, food processing, and technology while appreciating Qatar’s vital energy supplies. Beyond trade talks, Goyal launched India’s UPI digital payment system in Qatar, engaged with top Qatari business leaders, and lauded the Indian diaspora’s contribution, reaffirming that India’s economic rise and inclusive vision of Viksit Bharat 2047 will strengthen its partnership with Qatar under the strategic leadership of both nations.
Gold hits record Rs 1.19 lakh, silver follows amid festive demand and global uncertainty (The Economic Times)
Gold prices in India hit an all-time high of ₹1.19 lakh per 10 grams, soaring ₹3,000 in a single day, as investors flocked to the safe-haven asset amid global political turmoil, U.S. fiscal deadlock, and rising expectations of Fed rate cuts, with silver also touching a record ₹1.48 lakh per kg. Despite the steep rise and volatility, festive and wedding-driven demand remains strong, though consumers are shifting toward lightweight and lower-karat jewellery, reflecting a mix of cultural loyalty and budget-conscious adaptation in markets like South India and Madhya Pradesh. Analysts, however, caution against lump-sum investments at current levels, warning that after a 52% surge in gold over the past year, the metal could face short-term corrections even as its long-term appeal stays intact.
India to account for 12% of global energy demand by 2050: BP Chief Economist (Financial Express)
BP’s 2025 Energy Outlook projects India to become the world’s fastest-growing energy consumer, with its share of global energy demand rising from 7% in 2023 to over 12% by 2050, driven by a rapidly expanding economy averaging 5% annual growth. Chief Economist Spencer Dale noted that India’s oil demand will surge from 5.4 to 9.1 million barrels per day and natural gas use will more than double, led by industrial demand, while renewables like solar and wind will grow but coal will still dominate the energy mix with over 40% share. He emphasized that boosting domestic production and accelerating electrification will be vital for India’s energy security amid geopolitical volatility, as global oil consumption stabilizes and emerging Asian economies like India offset declines in developed markets.
From packaged foods to medicines: Many consumers still not getting benefits of GST 2.0 reforms, survey reveals (Financial Express)
Despite the government’s ambitious rollout of GST 2.0 on September 20—with lower tax rates of 5% and 18% meant to ease consumer prices and fuel growth across key sectors—most Indians report that the promised relief has not reached them. According to a LocalCircles survey of over 74,000 respondents nationwide, the majority saw little to no price drop in essentials like packaged foods and medicines, with only small portions of consumers reporting full or partial benefits, while electronics showed moderate gains and vehicles emerged as the only sector where most buyers actually benefited. Yet even in automobiles, the initial impact has begun to fade, suggesting that the reform’s early optimism is giving way to uneven implementation, limited price transmission, and growing consumer skepticism about whether GST 2.0 can deliver its intended economic boost.
