The EU’s sustainability directive may weaken trade ties. The European Council recently approved the EU’s Corporate Sustainability Due Diligence Directive (CSDDD), a due-diligence requirement that creates a legal liability for EU-based firms arising from any environmental and human-rights violations (including labour rights) within their supply chains. The CSDDD awaits a nod from the European Parliament, which is going for elections in June. Indian exporters are still grappling with the European Union’s Carbon Border Adjustment Mechanism […]

India’s manufacturing hits a 16-year high in March Based on the information provided, it appears that India’s manufacturing sector experienced a significant surge in March, reaching a 16-year high of 59.1 according to the S\&P Global survey. This growth was driven by an increase in new orders, expansion of inventories, and higher job creation. The demand for new orders came from both domestic and export markets. New export orders also saw a notable increase, particularly […]

How the health of Indian banks has improved over the past decade Mumbai: On Monday Prime Minister Narendra Modi said the condition of Indian banks and the wider banking sector has improved significantly over the past 10 years, during which the National Democratic Alliance (NDA) has been in power. Domestic lenders have seen bad loans dip over the years and are much stronger than they were a few years ago, thanks to several measures taken […]

“IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024”   Introduction On March 22nd, 2024, the Insurance Regulatory and Development Authority of India (IRDAI) enacted the “IRDAI (Actuarial, Finance and Investment Functions of Insurers) Regulations, 2024”. It applies to all insurers, including organizations wholly dedicated to reinsurance business operations. The provisions of this regulation went into effect from April 1st, 2024. Key Points: One notable aspect of the “IRDAI Regulations, 2024” states that a […]

India plans to make carbon fibre in response to EU carbon tax. New Delhi: India is planning to manufacture carbon fibre for use in aerospace, civil engineering, and defence as an alternative to metal, two officials said, a move that will also help the country get around a proposed European Union carbon tax on steel, alloy and metal products. Currently, India does not produce any carbon fibre, relying entierly on imports from countries such as […]