India urges UAE to follow quota system for gold exports (Financial Express)
India has explained to the UAE that its new competitive bidding system for allocating concessional gold import quotas under the CEPA is meant to make the process more transparent, while assuring that the shift from earlier discretionary allocations will not hurt the UAE’s sizeable gold exports to India. The two countries used their joint committee meeting to review CEPA’s broader progress, discussing market access issues, data sharing, standards, pharmaceuticals and food safety, and also agreeing to deepen cooperation so that trade procedures become smoother and non oil commerce can expand further. Since CEPA’s launch in 2022 bilateral trade has already doubled to about one hundred billion dollars and both sides now hope that stronger regulatory coordination and easier market access will help push non oil trade alone to one hundred billion dollars by 2030.
Telangana Rising 2047 - Telangana to focus on strategy anchored in three pillars in its journey towards US $3 trillion economy (The Hindu)
Telangana’s new long term vision outlines an ambitious plan to grow its economy to one trillion dollars by 2034 and three trillion dollars by 2047, relying on a coordinated strategy that links human capital, productivity and investment so that each reinforces the others and allows the State to shift from momentum driven expansion to deep structural transformation. The government projects strong gains in GSDP and per capita income over the next two decades and argues that achieving the three trillion dollar target will require faster improvements in education, skills, health, science and innovation, along with a major rise in total factor productivity and domestic savings that can be channelled into productive investment. The plan emphasises that sustained reforms, disciplined macroeconomic management, global scale talent development and district level innovation ecosystems will be essential for Telangana to become a fully knowledge driven economy by 2047.
IMF gives India a ‘C’ on its GDP and other national accounts data, the second-lowest grade (The Hindu)
The IMF’s latest review says India’s national accounts statistics still have several methodological weaknesses, giving them a ‘C’ grade and noting issues like the outdated 2011 to 2012 base year, gaps in expenditure data, discrepancies between GDP measurement approaches and the absence of seasonal adjustments. It also highlights that inflation data, though timely, is based on an old CPI basket that no longer reflects current spending patterns, while most other government datasets received a ‘B’ as they are adequate but still need improvements in coverage and statistical techniques. The IMF adds that although India is working on updating the GDP and CPI series by 2026, data shortcomings continue to hamper deeper economic surveillance and limit the precision of trend analysis.
