Business

Commerce and Industry Minister Piyush Goyal urged India and African nations to align standards, customs, and business practices to boost bilateral trade. He highlighted the combined economic potential of the African Continental Free Trade Area and India’s economy, emphasizing collaboration in integrated value chains and manufacturing, particularly in renewable energy and digitalization.

Gold import duty has been raised to 15%, a move expected to increase domestic prices and alter trade patterns. SBI Research reports that past duty hikes have widened the gap between international and domestic prices, potentially diverting supply to informal channels. Import values have risen while volumes have fallen, indicating price-driven import growth.

Despite the bullish undertone in equities, several risk factors continue to keep investors on edge. The rupee touched a fresh record low after breaching the 95.8 mark against the US dollar for the first time.