Daily News - Wednesday, 3 December 2025
OECD sees India maintaining growth momentum in FY26 and GST will help push growth (MoneyControl)
Organisation for Economic Co-operation and Development (OECD) says India’s economy is expected to grow 6.7 percent in FY26 despite Higher tariffs applied by the United States. OECD said Real GDP of India is projected to grow by 6.7% in fiscal year 2025-26, 6.2% in 2026-27 and 6.4% in 2027-28. Weaker export growth due to the US tariffs is expected to dent GDP growth in FY2025-26 by about 0.4 % points in fiscal year 2025-26 and by about 0.3 % points in fiscal year 2026-27, while the launch of the GST reform in September 2025 could boost growth by 0.1 % points according to OECD.
FICCI President says India Sees Trade Boost from New FTAs with Mauritius, UAE, Australia, EFTA, and UK (MoneyControl)
FICCI President Anant Goenka stated that India is witnessing positive traction and a pickup in trade flows from recently signed free trade agreements (FTAs). These agreements include pacts with Mauritius, the UAE, Australia, and the four‑nation European Free Trade Association (EFTA). Goenka added that India has also signed a similar agreement with the United Kingdom, further expanding its trade network. The FTAs are beginning to show measurable impact, with businesses reporting improved market access and export opportunities. This momentum reflects India’s broader strategy to leverage trade partnerships for economic growth and global integration.
President of India, Droupadi Murmu, graced the convocation ceremony of the Footwear Design and Development Institute in New Delhi (India Brand Equity Foundation)
At the FDDI convocation in New Delhi, President Droupadi Murmu emphasized India’s strength as the world’s second-largest footwear producer and consumer, manufacturing 2.6 billion pairs annually. She noted that exports, currently at 150 million pairs worth US$1.9 billion, remain a small share of global trade, underscoring the need for expansion. The footwear sector, recognized as a Champion Sector under Atmanirbhar Bharat, employs 4.5 million workers and is poised for growth in sports and non-leather footwear, which are expanding at 15–20% annually. Murmu urged graduates to innovate, build startups, and connect artisans with modern manufacturing to boost competitiveness. Her remarks tied the industry’s growth to India’s long-term vision of Viksit Bharat@2047.
Ministry of Coal Introduces Simplified Approval Mechanism for “Exploration Programs and Geological Reports” to Boost Efficient and Sustainable Coal Exploration (India Brand Equity Foundation)
Government of India is taking action to enable a more effective and technologically advanced means of mining coal and lignite resources, In response to India's growing energy requirements. The Ministry of Coal made significant changes in the procedures of resource development approvals and is supporting an increasing role for the private sectors. India’s Ministry of Coal has simplified the approval process for Exploration Programs and Geological Reports (GRs) to accelerate coal and lignite resource development. The new mechanism eliminates the need for a government committee’s clearance, instead relying on peer review by accredited prospecting agencies, cutting approval timelines by about three months. This reform is designed to meet India’s growing energy requirements, with coal still supplying nearly 70% of electricity generation. It also expands the role of the private sector, enhancing transparency and efficiency in exploration. The initiative underscores the government’s commitment to modernizing coal mining practices while balancing sustainability and energy security.
Ministry of Tourism entered a non-commercial MoU with Netflix to promote Indian tourism destinations globally through cinematic storytelling (India Brand Equity Foundation)
Ministry of Tourism has signed a strategic non-commercial Memorandum of Understanding (MoU) with Netflix Entertainment Services India LLP to leverage Netflix’s extensive international reach and strong influence on audience travel behaviour to showcase India’s diverse landscapes, vibrant culture, and rich heritage across global markets. This will enhance the global visibility of Indian tourism destinations through cinematic storytelling. Under the MoU, Netflix will support the promotion of natural attractions, tourist destinations, cultural sites, and iconic heritage locations across the country.
Adani Group plans $15 billion India airports expansion by 2030, Bloomberg News reports (Reuters)
Bloomberg News reported that India's Adani Group will invest $15 billion to boost passenger capacity at its airports to 200 million fliers annually in the next five years. The plan includes adding terminals, taxiways, and capacity upgrades at Ahmedabad, Navi Mumbai, Jaipur, Thiruvananthapuram, Lucknow, and Guwahati.
