The move comes against the backdrop of a US investigation into forced labour practices across 60 economies, including India. The notification said the new provisions will take effect after the completion of 30 days from the date of their publication in the Official Gazette.
IBM share price crash: The softer outlook comes as businesses increasingly direct their technology spending towards artificial intelligence infrastructure, including servers, storage and memory, resulting in lower expenditure on conventional software offerings.
India’s government has launched a new Index of Services Production. Fourteen of nineteen formal services sub-sectors showed double-digit growth in April. Accommodation and food services expanded significantly, leading the growth figures. Air and railway transport were the only sub-sectors to record declines. This index will now be released monthly to track economic activity.
The market drew support from declining bond yields after data showed US consumer prices rose 3.5 per cent in June compared with a year earlier, reflecting higher costs for gasoline, food and other everyday items.
Unlike man-made canals such as the Suez and Panama, which are sovereign infrastructure and levy substantial transit tolls, most natural international waterways – including the Strait of Hormuz, Strait of Malacca, Taiwan Strait, Strait of Gibraltar and Cape of Good Hope—generally do not charge transit fees.
Indian Railways introduced reforms for freight and logistics operations. Specialized containers will transport fly ash, reducing environmental pollution significantly. A unified license regime for container train operators aims for nationwide operations. Industries can now develop new freight wagon designs for improved efficiency. These initiatives aim to modernize logistics and enhance overall railway performance.
It reflects the impact of the West Asia conflict and the effective blockade of the Strait of Hormuz, a key route through which most of India’s crude oil imports arrive, along with the resulting spillover into food prices.
According to ship-tracking data, six US-sanctioned supertankers with a carrying capacity of 12 million barrels of crude combined have crossed the Strait of Hormuz into the Gulf of Oman over the past week while keeping their transponders switched off.
The rupee has weakened by more than 0.8% so far in the current fiscal year. On Monday, the one-month forward premium on the rupee stood at 3.17%, whereas the one-year forward premium was 2.83%.
