The decision, announced just minutes after the new US-India tariffs took effect, signals the Central bank’s intent to support non-inflationary growth in an increasingly uncertain global environment.
PM Narendra Modi’s proposal to link UPI with BIMSTEC payment systems aims to enhance regional trade, business, and tourism, fostering deeper economic integration and collaboration among member countries.
Citing India’s steep 52% tariff burden on US goods, US President said he opted for a calibrated response by imposing half in return.
US President Donald Trump has announced a 27% reciprocal tariff on India, aiming to address longstanding trade imbalances and enhance US competitiveness, especially in key sectors such as textiles and manufacturing.
The move, coming just a day before US reciprocal tariffs take effect on April 2, marks a significant push towards resolving longstanding trade disputes.
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The Indian ice cream market has grown significantly over the last decade, driven by rising disposable incomes, changing preferences, and expanding distribution channels, with projections to reach ₹45,000 crore by 2028.
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India aims to reduce compliance hurdles for UPI in cross-border payments, seeking Financial Action Task Force’s (FATF) support to enhance its global use and competitiveness in the international payments market.
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