Domestic Reforms Essential for FTA Success

CII president and ITC chairman and MD Sanjiv Puri emphasizes the importance of accompanying tariff reductions with domestic reforms to boost the competitiveness of Indian industries. He highlights the potential of GST rationalization and further rate cuts to stimulate demand.

Trade Pact with the US: Industry's Expectations

The proposed Bilateral Trade Agreement (BTA) between India and the US could mirror the comprehensive FTA between India and the UK, aiming to integrate Indian industries into global value chains. Addressing rules of origin and non-tariff barriers are key concerns.

Boosting Urban Demand Through Policy Reforms

Reductions in personal income tax rates and the anticipated 8th Pay Commission implementation are expected to support consumption. A simplified GST structure could further enhance demand and tax compliance.

RBI's Rate Cutting Policy: A Boost for Domestic Growth

With softening inflation, the RBI is expected to continue monetary easing to counteract global volatility's impact on domestic growth, despite current high nominal interest rates affecting investment demand.