NEW DELHI: Despite strong economic fundamentals, the Indian economy stares at headwinds such as global uncertainties, inflation, and unfair Chinese competition that may require the budget to focus on enhancing capital expenditure, easing compliance burden, enhancing disposable income and encouraging small firms through cheaper credit and tax relief, industry representatives told the finance minister on Monday.
Excess capacity in China has been one of the key concerns for both the domestic industry as well as exporters fearing dumping, at least three people present at the pre-budget meeting said, requesting anonymity. The situation could aggravate once the Trump administration imposes tariff barriers against Chinese dumping. For India, the survival lies in reduction in cost of manufacturing and producing the best quality product to compete with cheaper Chinese goods, they said after the meeting. US President-elect Donald Trump vowed to impose huge tariffs on imports from Canada, Mexico and China after he assumes power on January 20.
This story is from the December 31, 2024 edition of Hindustan Times Lucknow.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 31, 2024 edition of Hindustan Times Lucknow.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Diljit Meets PM Modi, Gets 2025's First Iconic Insta Collab
2025'S FIRST ICONIC INSTA COLLAB
Would love to collaborate on an Indian film: Xiumin
Indian fans of South Korean singer-actor Xiumin were pleasantly surprised when he greeted them in Hindi with the words \"Meri aashiqui tum hi ho\" (a reference to a popular track from the 2013 film Aashiqui 2) at the K-Town Festival in Mumbai a couple of weeks back.
Indians to play two matches on Day 1
It will be a new beginning for handball in Lucknow on Friday when prestigious International Championship of Handball IHF Trophy Men Youth and Junior (Continental Phase - Asia) begins at the newly constructed Atal Bihari Vajpayee Indoor Hall at the KD Singh 'Babu' Stadium here.
A dream come true, says para-athlete Praveen
It was no surprise for para-athlete Praveen Kumar when he found his name among those chosen for the prestigious Major Dhyan Chand Khel Ratna awards on Thursday evening as he was quite sure he would get the same after his consecutive success at the Paralympics, first a silver at the 2020 Tokyo Paralympics in the T64 category in high jump and then a gold at the 2024 Paris Paralympics.
Decider: All to play for, but all not playing
While Australia have recovered from a poor start, it has been the opposite for India in the series so far
Anti-dumping duty on solar glass may delay projects
THE DOMESTIC SOLAR GLASS MANUFACTURING CAPACITY STANDS AT 10-12GW
BharatPe Hires Rothschild To Sell Up To 25% In Unity SFB
New-age non-bank lender BharatPe is looking to sell anywhere between 10% and 25% stake in Unity Small Finance Bank, depending on buyer interest, two people with knowledge of the development said.
CCI Probe Confirms Apple Violated Competition Law
The Competition Commission of India's investigation has confirmed anti-competitive practices by Apple Inc. following a probe into the iPhone and iPad maker's app store processes, two people familiar with the development said.
Centre sets up panel to reset WPI series' base year
The government on Thursday set up a committee of experts to reset the base year of the current series of Wholesale Price Index (WPI) in an effort to make the measure of factory-gate inflation more accurate. This, in turn, will make India's estimation of economic output adjusted for inflation more precise.
New Orleans attacker acted alone: FBI
It just took a moment to register, it was just so frightening - it was like something out of a horror movie. K STRICKLIN, A witness
