GST reforms to reduce counterfeit goods trade: FICCI CASCADE Chairman

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New Delhi, Sep 18 (IANS) The GST reforms will lead to a reduction in the trade of counterfeit goods in the country, FICCI CASCADE Chairman Anil Rajput said on Thursday.Speaking to IANS at an event in the national capital, Rajput said, “FICCI CASCADE organises its annual flagship conference, MASCRADE, every year which is a movement against smuggling and counterfeiting activities.”He further said that smuggling and counterfeit goods trade harm the economy and “we need to sensitise everyone invol…

Millionaire Indian households jump 90 pc to 8.7 lakh, Mumbai leads: Report

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New Delhi, Sep 18 (IANS) India’s millionaire households with net worth over Rs 8.5 crore surged 90 per cent in number to 8.71 lakh in 2025, up from 4.58 lakh in 2021, a report said on Thursday.Mumbai is the country’s “millionaire capital” with 1.42 lakh wealthy households, followed by Delhi with 68,200 and Bengaluru with 31,600, said a report jointly authored by Mercedes-Benz and Hurun India. Maharashtra leads states with 1.78 lakh millionaire families, backed by a 55 per cent jump in Gros…

Climate change may up health risks, exceed $1.5 trn productivity loss by 2050: Report

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Geneva, Sep 18(IANS) The rise in global temperatures is likely to cause severe health risks and result in the loss of more than $1.5 trillion in productivity, according to a new report from the World Economic Forum on Thursday.The loss will be borne mainly by sectors such as food and agriculture, the built environment, health, and healthcare.The report, published ahead of the World Economic Forum’s Sustainable Development Impact Meetings 2025, arrived as preparations intensify for COP30 in Bel…

Govt focusing on raising share of natural gas in India’s energy mix

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New Delhi, Sep 18 (IANS) The government plans to accelerate the use of piped natural gas (PNG), complementing renewables through gas-based power, and scaling opportunities in CBG, hydrogen, and LNG mobility.Addressing the ASSOCHAM India Gas Infrastructure Conference, Petroleum and Natural Gas Regulatory Board (PNGRB) Secretary, Anjan Kumar Mishra, said: “With industry collaboration and policy support, we can raise the share of natural gas in India’s energy mix well beyond 15 per cent and make …

Global confidence in India is rising amid next-gen reforms: Ashwini Vaishnaw

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New Delhi, Sep 18 (IANS) Global confidence in India is rising, and next-generation reforms such as the recent GST restructuring and the rapid expansion of India’s digital infrastructure are enabling stronger domestic and international partnerships, essential for achieving the vision of a developed India by 2047, Union Electronics and IT Minister Ashwini Vaishnaw said on Thursday.Addressing the Public Affairs Forum of India (PAFI) event here, the minister underscored India’s growing role and as…

Stock market rises for 3rd consecutive day on US Fed rate cut, buying in IT sector

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Mumbai, Sep 18 (IANS) The Indian equity indices extended the gaining momentum for the third consecutive session on Thursday amid buying in IT stocks after the US Fed announced a rate cut. Sensex closed at 83,013.96, up 320.25 points or 0.39 per cent.The 30-share index opened with a decent gap-up at 83,108.92 against the last session’s closing of 82,693.71 after the US Fed announced a rate cut. However, the index remained range-bound throughout the session amid a mixed approach across sectors exc…

GST reforms to lower rates on 11 out of 30 top consumption items: Report

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New Delhi, Sep 18 (IANS) The new Goods and Services Tax (GST) rates will benefit 11 of the top 30 consumption items and a third of an average consumer’s monthly expenditure, a report said on Thursday. These 11 items include essential milk products, discretionary products (automobiles, beauty services) and goods, seeing a surge in demand over the past few years (processed food).”Rough calculations indicate the simple average GST rate based on these top 30 consumption items falls from 11 per cen…

Indian pharma companies’ revenue to grow 7-9 pc in FY26 amidst US market risks: Report

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New Delhi, Sep 18 (IANS) The Indian pharmaceutical sector is expected to achieve 7-9 per cent revenue growth in FY 2026, driven by strong domestic and European demand, despite a significant slowdown in its US market, a report said on Thursday.Ratings agency ICRA, in a report, said that global headwinds and regulatory uncertainties cast a shadow over its largest export market in the US, but 8-10 per cent growth is expected in the domestic market, with 10-12 per cent growth in Europe.The operating…

GST 2.0 gives booster shot to textiles, logistics sectors

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New Delhi, Sep 18 (IANS) The rationalisation of Goods and Services Tax under GST 2.0 marks a significant reform aimed at removing structural anomalies, reducing costs, and boosting demand in the textile and logistics industries, both of which are vital for domestic growth, employment, and export competitiveness, according to an official statement on Thursday.By aligning tax rates across the value chain, the GST reform ensures affordability for consumers, sustains jobs in labour-intensive sectors…

India's contribution to global GDP growth to reach 9 pc by 2035: Govt official

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Mumbai, Sep 18 (IANS) India’s dominance in the global economy is rapidly increasing, and the country’s share in global GDP growth will increase to 9 per cent by 2035, up from 6.5 per cent in 2024, M Nagaraju, Secretary, Department of Financial Services, Ministry of Finance, said on Thursday.Addressing the gathering at the annual infrastructure conclave 2025 organised by the National Bank for Financial Infrastructure and Development (NABFID) here, M Nagaraju said that even in an environment of gl…