India’s Industries Minister Bharath inaugurated a job fair and highlighted a prospective semiconductor venture at Orvakal worth about ₹23,000 crore. The investment is projected to create both direct and indirect employment opportunities for the region’s youth.
The Indian government confirmed that the 0.4% merchant discount rate (MDR) on person‑to‑business UPI transactions above Rs 2,000 will remain in place and will not be withdrawn, despite opposition criticism and a pending Supreme Court challenge. The fee, set to start on October 15, will be capped at Rs 300 for payments of Rs 75,000 or more, while person‑to‑person transfers stay free.
India's Bureau of Indian Standards (BIS) announced an increase in the gold hallmarking fee from ₹45 to ₹75 per 10 grams, effective ahead of the festive season. The All India Gem and Jewellery Domestic Council (GJC) has urged the government and BIS to review the decision and retain the existing charge pending stakeholder consultation.
The quota announcement comes ahead of Dussehra even as retail prices drop below ₹60 a kg
Livestock feed manufacturers warned that ethanol producers are intensifying competition for maize, urging the government to safeguard maize supplies for the feed sector. Reduced maize acreage, El Nino‑related weather impacts and rising prices threaten feed availability and could drive up poultry product costs.
Government helps exporters prepare for CBAM compliance and emissions verification requirements
Tamil Nadu’s government signed multiple memoranda of understanding during Chief Minister Vijay’s visit to London to attract investment, aiming to generate about 7,000 high‑value jobs. The agreements focus on sectors such as design, engineering, manufacturing, assembly and logistics.
The recognition follows sustained technical engagement between the two governments and could help prevent eligible goods from facing carbon charges twice
Government is looking to pool factories' demand for energy, using bulk purchases of green power to secure better prices for them. The move could make cleaner electricity a more secure alternative to gas, while helping manufacturers cut both energy costs and emissions.
The preparatory meetings of government officers will now be held on 5 October from 3pm and on 6 October from 11am onwards, ahead of the GST Council meeting on 7 October.
Norway's $2.3 trillion sovereign wealth fund plans to cut government bonds from 70% to 50% of its portfolio to diversify risk and boost returns. This change could significantly impact US Treasuries, with holdings projected to drop by $75 billion, pending government approval.
Mint Explainer: A base-year revision allows the government to incorporate newer data sources, improve its methodology and better capture changes in the economy, which can look very different over five years.
“This is a devastating critique that requires straightforward responses from the government,” Tharoor said in a post on X quoting Congress leader Jairam Ramesh's statement.
The opposition party also asked what methodology was adopted by the government to bring this revision while seeking an explanation for the reduction of ₹43 lakh crore in the estimated size of the economy.
Opposition parties and some experts have questioned the government's latest GDP data. Mint examines the allegations and whether there is any merit to the concerns.
The Congress party cited criticism by former finance secretary Subhash Chandra Garg on GDP numbers to attack the government, saying it must understand that ‘PR can polish the picture’ of GDP but not the economy itself.
The government issues a detailed clarification in a question-and-answer format, refuting allegations of artificially pushing up the real growth rate for the June quarter to 7.8% and the nominal expansion rate to 10.3%.
A section of the stakeholders is worried, with global prices surging to a 3-year high on Black Sea disruption, lower output this year
Japan Credit Rating Agency upgraded India’s sovereign credit rating to A- from BBB+ citing strong economic growth, fiscal consolidation, a healthier financial system and resilient external finances. JCR expects India to grow over 6% in FY27 but flagged high government debt as a key risk.
The deal by drug major with the US government to lower prices of its innovative drugs in the US is in line with the lowest prices paid by other developed nations, under the most favoured nation (MFN) pricing framework
