New Delhi, Feb 23 (IANS) India’s GCC office market transition from cost‑cutting centres or back offices to global growth engines marks a watershed moment in the country’s economic history, a report said on Monday.The report from The Hindu said nearly 58 per cent of Global Capability Centres (GCCs) in India are investing heavily in Agentic AI, that can reason and execute complex tasks moving beyond experimentation to enterprise‑scale deployment.Indian GCCs now act as Centres of Excellence f…
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New Delhi, Feb 23 (IANS) Union Finance Minister Nirmala Sitharaman on Monday said it is too early to assess the impact of the recent tariff changes announced by the United States, adding that the commerce ministry is currently reviewing the situation.FM Sitharaman remarks came after fresh trade tensions emerged following a decision by the US Supreme Court against sweeping import tariffs imposed earlier by the administration of Donald Trump.Subsequently, President Trump announced a 10 per cent ta…
Cairo, Feb 22 (IANS) Iran vowed to uphold national unity and designated the naval and air forces of European Union (EU) states as terrorist organizations. The move came as a US envoy’s controversial remarks drew widespread condemnation across Arab countries.Speaking at a meeting in Tehran, Iranian President Masoud Pezeshkian reaffirmed his administration’s commitment to national resilience and unity, saying that Iran will not yield to external pressure as it navigates nuclear negotiations with t…
Mumbai, Feb 19 (IANS) Global Capability Centres (GCCs) could account for up to 50 per cent of India’s office space demand across the top seven markets as US firms continue to dominate leasing activity, a report said on Thursday. The report from Colliers India said US firms have accounted for close to 70 per cent of GCC leasing activity in India since 2020, followed by EU and UK companies at an 8–10 per cent share each.The annual Grade A office uptake by GCCs could reach 35–40 million sq ft…
New Delhi, Feb 18 (IANS) President of Estonia Alar Karis on Wednesday stated that India’s global weight is rising, highlighting the country’s growing influence in changing world order. “India’s global weight is rising-boosted by the EU–India free trade deal. I spoke with Narendra Modi about the changing world order and how new technology affects democracy. I welcomed India cutting Russian fossil fuel imports, increasing pressure to end aggression against Ukraine,” Karis posted on X after meeti…
New Delhi, Feb 12 (IANS) India now has market access to 70 per cent of global GDP, in most cases at zero duty for domestic products, Union Commerce and Industry Minister Piyush Goyal said on Thursday.Speaking at an event here, Goyal said that nine Free Trade Agreements (FTAs) have been concluded in the last three years, covering 38 countries with strong per capita incomes, and most developed markets now have trade arrangements with India.“Agreements include the 27-nation EU bloc, four-nation E…
New Delhi, Feb 12 (IANS) India’s trade surplus with the US may cross $90 billion annually after the trade deal, with at least a $45 billion annual additional trade surplus with the US, which is 1.1 per cent of the GDP, and savings of $3 billion in forex reserve, an SBI Research report said on Thursday.The trade deal with the US, back on the heels of wide arc of trade deals with the EU and the UK, catapults India to a unique strategic position wherein the country, as also its exporters, are poi…
Mumbai, Feb 10 (IANS) The India-US trade deal is very good and the biggest advantage it brings to the diamond industry is that under Section 3, diamonds and gemstones will now be moved to a zero per cent tariff, which is a major step forward, Avinash Gupta, Vice Chairman of All India Gem and Jewellery Domestic Council (GJC), has said.Speaking to IANS, Gupta said the deal will greatly help India’s cutting and polishing industry to survive, as earlier, 9 out of 10 diamonds were cut in India, and…
Mumbai/Jaipur, Feb 9 (IANS) Leading players from India’s gems and jewellery industry welcomed the India-US tariff agreement, calling it a historic step that would open up a large, high-value American market for Indian exporters and significantly boost bilateral trade. Dinesh Lakhani, Director of Kiran Gems Private Limited, said the agreement would benefit both economies and revive exports that had suffered due to high tariffs. “The tariff deal between India and the US is historic for both co…
New Delhi, Feb 7 (IANS) The India-EU Free Trade Agreement (FTA) eliminates duties and places Indian shipments on a level-playing field with key competitors such as Bangladesh and Vietnam, among other preferential trade partners, according to a new report.The agreement is expected to bring down EU import duties on Indian textiles to zero, addressing a longstanding tariff disadvantage that had limited India’s competitiveness in the region. The ICRA report notes that preferential access and lower…