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The Economic Times

Economy / The Economic Times

India notifies first New Zealand FTA duty cuts; wine, honey, kiwi fruit to get concessions from Oct 20

India has notified the first set of customs duty concessions for imports from New Zealand under their free trade agreement, effective October 20. The preferential rates cover products such as wine, manuka honey, kiwi fruit and sheep meat, with limited quantities of select goods allowed under tariff-rate quotas and dairy and other sensitive sectors excluded.

17 Oct 2026 9:19 am
Trump's waiver of Graham law curbs comes as a relief to India, other Russian energy buyers

Trumps waiver of Graham bill provisions could leave US navigating competing priorities: sustaining pressure on Moscow, containing domestic fuel costs and avoiding unnecessary trade disputes with major energy buyers. For India, the suspension offers immediate relief from a potentially damaging tariff escalation, but similar future threats have not disappeared.

17 Oct 2026 9:17 am
Kavya Maran, Anirudh Ravichander wedding: Couple reportedly to tie the knot in Greece, host grand reception in Chennai - Date, venue and other details

Exciting news is brewing as reports suggest Kavya Maran and Anirudh Ravichander are set to tie the knot this November. The wedding is slated for Greece in November 2026, followed by a grand reception in Chennai. While invitations have gone out to high-profile guests like actor Thalapathy Vijay, formal announcements regarding the specifics remain unconfirmed. Read on!

17 Oct 2026 9:08 am
Who is Kavya Maran? Anirudh Ravichander reportedly set to marry Sunrisers Hyderabad CEO. Her parents invite CM Revanth Reddy to wedding reception

Anirudh Ravichander and Kavya Maran are reportedly tying the knot on November 11, 2026. Kavya's family has extended an invitation to Telangana's Chief Minister A. Revanth Reddy for their wedding reception, scheduled for November 21 in Chennai. As the CEO of Sunrisers Hyderabad, Kavya and the acclaimed music composer Anirudh are set to draw a star-studded guest list for their celebrations. Read on!

17 Oct 2026 8:21 am
Nicolas Cage in True Detective season 5?: Where to watch previous seasons on OTT in India

Nicolas Cage has hinted at joining True Detective season 5 during a New York Comic-Con panel, citing the demands of making films back to back and the need to feed the family. HBO renewed the crime anthology in February 2024 after Night Countrys success. Meanwhile, Indian viewers can stream the first four seasons on JioHotstar, featuring investigations set across Louisiana, California, the Ozarks and Alaska.

17 Oct 2026 8:07 am
Billy Ray Cyrus reportedly engaged to Elizabeth Hurley after over a year of dating: Who is the 61-year-old actress and model?

After a year of romance, Billy Ray Cyrus and Elizabeth Hurley are reportedly engaged. Their relationship gained public attention in 2025, after they met on the set of 'Christmas in Paradise'. Engagement speculation erupted when fans noticed Hurley's stunning diamond ring. This will be Cyrus's fourth marriage, and both he and Hurley embrace a lifestyle that favors peaceful country living over urban chaos.

17 Oct 2026 7:48 am
Ranabaali box office collection day 1: Vijay Deverakonda, Rashmika Mandanna's film opens on decent note. Earns Rs 16.50 crore globally

Ranabaali, starring the popular duo Vijay Deverakonda and Rashmika Mandanna, hit theaters on October 16, 2026. Directed by Rahul Sankrityan, the film portrays the grievous events of the Madras Famine from 1876 to 1878 during British colonial rule. Read on to know how much it earned in India.

17 Oct 2026 7:39 am
Elon Musk's Starlink responds to Reliance, says ready to connect India with high-speed internet

Starlink has said it is ready to provide high-speed internet services in India, asserting that it has spent over five years working with regulators, industry and operators and built dedicated infrastructure with the requisite government approvals. The Elon Musk-led company made the statement while tagging Reliance Industries' post on competition in satellite communications.

17 Oct 2026 7:14 am
CP Protests: AISA President Neha Bora released, Abhijeet Dipke to be produced before SEM court, Delhi Police say

AISA president Neha Bora was released early Saturday after being taken into preventive custody ahead of the 'Lehra Do Tiranga' protest march at Connaught Place on Friday. CJP founder Abhijeet Dipke, who was also detained, was arrested under relevant BNSS provisions and will be produced before the SEM court.

17 Oct 2026 6:57 am
Jailer 2 box office collection day 2: Rajinikanth, Mohanlal's film enters Rs 200 crore club worldwide after record-breaking start

Jailer 2, the sequel starring Rajinikanth, debuted on October 15 and achieved rapid box office triumph, raking in over Rs 200 crore worldwide within its first two days. The film, directed by Nelson Dilipkumar and featuring a stellar cast including S. J. Suryah and Vidya Balan, dives into Muthu's struggle between family commitments and resurfacing adversaries from his history. Read on!

17 Oct 2026 6:52 am
Yes Bank to seek Supreme Court review of Rs 8,415 crore AT1 bond write-down verdict

The move would mark the next legal step for the lender after the apex court upheld the Bombay High Court judgment quashing the March 2020 write-down of the AT1 instruments issued by Yes Bank.

17 Oct 2026 6:00 am
For global trades sake, hope our US deal is inked soon: FM Nirmala Sitharaman

Nirmala Sitharaman expressed optimism regarding the speedy conclusion of the India-US trade agreement during her recent interaction. She highlighted challenges in trade relations with China due to non-tariff barriers causing problems for Indian exporters. The Finance Minister advocated for promoting rupee-denominated trade settlements to assist nations experiencing hard currency shortages. Sitharaman emphasized the importance of public investment in infrastructure to bolster economic growth desp

17 Oct 2026 5:00 am
Apple resets factory settings for iPhone 17: Price-conscious buyers pause purchases as Pro models gain ground

Apple is cutting production of the standard iPhone 17 for the Indian market following a more than 20% price increase, as demand weakens despite strong overseas sales. The company plans to redirect capacity towards exports, while demand for iPhone 17 Pro and iPhone 18 Pro models remains firm. Rising component costs, a weaker rupee and higher prices have prompted some Indian consumers to defer purchases or consider older and refurbished iPhones.

17 Oct 2026 4:54 am
US stocks: US market ends down sharply; worries about AI trade and high oil prices weigh

Wall Street ended sharply lower on Friday, with CoreWeave, Broadcom and other AI-related technology stocks under renewed pressure, while a jump in oil prices spooked traders heading into the weekend.The Nasdaq extended losses from earlier in the week, hammered by concerns that debt-laden AI infrastructure companies may not turn profits in time to repay debts, particularly with borrowing costs expected to rise.Nvidia-backed CoreWeave slumped, also adding to recent losses. The data center operator

17 Oct 2026 1:38 am
Reliance Industries welcomes Starlink competition while urging compliance with Indian laws

Reliance Industries expressed its openness to competition within India's satellite communications market. The company welcomed Starlinks entry while emphasizing the need for compliance with Indian regulations. Reliance stated that its satellite services are awaiting necessary government approvals for operations. Elon Musk claimed that oligarchs are blocking Starlink's entry into India, which Reliance addressed in its statement. Other satellite operators also continue to seek Indian government cl

17 Oct 2026 12:58 am
No meddling as 'middlemen' in forex conversion by banks: New rules forbid conversion of foreign earnings into rupees to detriment of exporters

The Foreign Exchange Dealers' Association of India (FEDAI) has directed banks not to convert foreign currency remittances into rupees without specific instructions from the sender or beneficiary. The move follows concerns that intermediary banks were converting dollars at unfavourable exchange rates, leaving small exporters and individuals receiving overseas payments with less money. Banks have also been asked to ensure transparent forex service charges and disclose currency conversion rates on

17 Oct 2026 12:51 am
Who is Fourth Wing's female lead, Esther McGregor? All about her superstar father, educational qualifications

British actress Esther McGregor and German actor Emilio Sakraya have been cast to portray Violet Sorrengail and Xaden Riorson. In the narrative, Violet's mother, a powerful military general, forces her to abandon her dream of becoming a scribe and join as a dragon rider at Basgiath War College.

17 Oct 2026 12:47 am
HSBC has used over half of $1-billion startup fund within a year: Global innovation banking head David Sabow

HSBC has deployed more than half of its $1 billion loan commitment to Indian startups within a year of launching its innovation banking platform. The British lender has reported strong demand across consumer technology, e-commerce and enterprise software, and is open to increasing its funding allocation. HSBC Global Head of Innovation Banking David Sabow said the bank expects to add at least 500 clients in India over the next year.

17 Oct 2026 12:38 am
NITI Aayog explores policies to boost India's medical and dental device manufacturing industry

NITI Aayog is exploring policy measures to improve the manufacturing capabilities of medical and dental devices in India. The meeting included domestic manufacturers, government officials, and experts from IIT Delhi and IIT Mumbai. Key challenges such as regulatory hurdles and cost disadvantages faced by Indian manufacturers were discussed extensively. The industry body AiMeD emphasized the need for simpler regulations and financial support for local manufacturers.

17 Oct 2026 12:34 am
Government approves Rs 1,195 crore for ITI cluster modernisation

With these approvals, the cumulative investment approved under the scheme has reached 3,687 crore to date to help transform ITIs into modern, industry-aligned and future-ready skill institutions.

17 Oct 2026 12:29 am
India should become a tech-creator rather than tech-user nation: Niti Aayog vice-chairman Ashok Lahiri

Niti Aayog vice-chairman Ashok Lahiri stressed the need for rapid economic reforms and structural changes to help India become a developed nation by 2047. Technological progress is needed to compete with the rest of the world, he said.

17 Oct 2026 12:24 am
India refines 1,200 tonnes of gold but consumes 800-850 tonnes: How GIFT City could help unlock major export opportunity

Indias 1,200-tonne gold refining industry could unlock new export opportunities through GIFT City, Gujarat, following the introduction of responsible sourcing and audit guidelines by the International Financial Services Centres Authority (IFSCA). The framework sets standards for refiners seeking Good Delivery accreditation to trade gold through the India International Bullion Exchange (IIBX). The move aims to strengthen global confidence in Indian-refined gold through supply chain transparency,

17 Oct 2026 12:19 am
Peak power demand exceeds 250 GW through most of September

India's power sector planner recently said the country will require additional base load through conventional sources such as thermal power plants to meet the strong demand, along with renewable energy sources. Power consumption in September rose around 11% driven by cooling and irrigation requirements amid below-normal monsoon rainfall.

17 Oct 2026 12:16 am
Domino's Pizza outlets among 25 food establishments facing licence suspension in Maharashtra: FDA seizes 81,330 kg of food worth Rs 1.73 crore

Maharashtras Food and Drug Administration (FDA) has suspended the licences of 25 food establishments and four edible oil and spice manufacturing units during a statewide crackdown on food safety violations. Six Dominos Pizza outlets in Pune division were among those affected. The FDA also seized around 81,330 kg of suspected substandard, adulterated or mislabelled food products worth Rs 1.73 crore from 37 establishments across six divisions. Laboratory tests and further legal action are pending.

17 Oct 2026 12:12 am
'India needs 8-9% growth to become a developed nation by 2047'

India aims to become a $30 trillion economy by 2047, from its current size of around $4 trillion. The country's gross domestic product (GDP) grew 7.8% in the June quarter, exceeding expectations.

17 Oct 2026 12:12 am
Motor insurers seek third-party premium deregulation, end to knock-for-knock pacts

In responses to the regulator's consultation paper on insurance distribution reforms, some industry participants said automobile manufacturers and dealers influence commissions, discounting and repair costs, which could blunt the impact of the proposed curbs on intermediary remuneration, according to people aware of the matter.

17 Oct 2026 12:12 am
Insurance changes positive, give the companies time to adapt: Theodoros Kokkalas, ERGO International

Theodoros Kokkalas, chief operating officer of ERGO International said greater predictability would help insurers make long-term business plans. We make plans, and today making long-term plans is like science fiction in the dynamic environment that we live in, he said. While India's general insurance industry is struggling to bring its combined ratio below 100%, with the industry average at 110-115% and ERGO is targeting a ratio of 80-85%, Kokkalas said there was no standard timeline for a marke

17 Oct 2026 12:06 am
Menstrual hygiene a fundamental right: Supreme Court warns states of contempt

The Supreme Court has mandated the central government to provide details on the implementation of menstrual hygiene rights. This ruling emphasises that menstrual hygiene is crucial for Article 21 of the Constitution. The court is apprehensive about the effective execution of this directive in remote areas. Chief secretaries from non-complying states may face contempt proceedings for failing to respond.

16 Oct 2026 11:58 pm
US fiscal 2026 budget deficit rises to $1.99 trillion, largest in 5 years

The US budget deficit for fiscal 2026 rose to $1.99 trillion, driven by increased tariff refunds and spending. Total spending for the year reached a record $7.40 trillion, while total receipts were $5.40 trillion. Net tariff receipts fell significantly, contributing to the deficit increase as refunds reached $145 billion. The debt-service outlays recorded a new high of $1.36 trillion during this fiscal year.

16 Oct 2026 11:53 pm
Breaking Bad star RJ Mittes mother recalls finding him dead: 'A mother should never have to find their child this way...'

RJ Mitte's mother, Dyna, revealed the painful morning she discovered her son had died by suicide. She had tried to contact him before deciding to bring him lunch. Dyna expressed her regrets about encouraging RJ to seek therapy, which he resisted. His passing has prompted discussions on the importance of acknowledging emotional distress in the community.

16 Oct 2026 11:35 pm
White House lists investment over $330 billion in US from India

The White House announced investments of over $330 billion from India as part of total investments. This total is reported as $10.871 trillion from various countries and private industries. Specific investments included $310 billion and $20.5 billion, plus a $15 billion steel plant by Essar Group. US President Donald Trump previously mentioned Reliance Industries' $300 billion investment in Texas.

16 Oct 2026 11:24 pm
Leonardo DiCaprio bought 104-acre island for $1.75 million to create an ecological paradise; Why his Belize project remained uncertain

Leonardo DiCaprio's vision for Blackadore Caye focuses on intertwining luxurious hospitality with environmental recovery. Facing scrutiny over ecological sustainability and the projects scale, the proposal aimed to integrate extensive conservation areas alongside habitat restoration efforts. However, construction delays have cast doubt on its viability, leaving the equilibrium between tourism growth and nature conservation at Blackadore Caye hanging in the balance.

16 Oct 2026 10:25 pm
1960s superstar, who once lived in a chawl, left unlucky bungalow he got for Rs 4.2 lakh decade ago. Today, it is valued at nearly Rs 450 crore

One random, impulsive real estate purchase years ago made Bollywood star Jeetendra one of the wealthiest men in the tinsel town. In an interview, the Himmatwala star said how buying a home from Baiju Bawra star Bharat Bhushan for just over Rs 4 lakh decades ago changed his fortune forever.

16 Oct 2026 10:17 pm
In 2012, Evan LaBelle started 3D printing when he was in high school; today he runs a 12,000-square-foot factory with over 200 3D printers

At just 12 years old, Evan LaBelle discovered his passion for 3D printing, which ultimately led him to establish Autotiv Manufacturing. His company currently boasts an expansive production facility equipped with over 200 3D printers, catering to the aerospace and robotics sectors. Honored as Young Entrepreneur of the Year, LaBelle is celebrated for his innovative contributions and dedication to community.

16 Oct 2026 10:09 pm
Karur Vysya Bank targets 18-20% credit growth in FY27, corporate lending capped at 20%

Karur Vysya Bank (KVB) aims for 18-20 percent growth in total advances for the fiscal year 2027. The bank focuses on retail, agriculture, and MSME lending, which constitutes 86 percent of its advances. Though corporate lending will be increased, high-value loans will be capped at 20 percent going forward. Gold loans are expected to see significant growth supported by lower borrowing costs.

16 Oct 2026 9:52 pm
Yes Bank weighs next steps after SC upholds verdict on AT-1 bond write-down

Yes Bank is examining the Supreme Court ruling regarding the write-down of Additional Tier-1 bonds. The Supreme Court upheld a prior Bombay High Court decision that quashed the bank's March 2020 action. Following the judgment, the bank is considering its legal options and future steps. The Reserve Bank of India and Yes Bank had previously appealed the High Court's ruling.

16 Oct 2026 9:52 pm
Aviation regulator DGCA may consider one-time check of pilots' training records, says AAIB in probe report

The AAIB has released a report following the accident involving VSR Ventures' Learjet 45XR in Mumbai. It noted serious injuries to all eight individuals onboard during the incident. Recommendations were made to the DGCA for pilot training checks and improving emergency protocols. The report highlighted the flight crew's failure to adhere to standard procedures which contributed to the accident.

16 Oct 2026 9:42 pm
Railway base kitchen shut, 978 kg of food seized and 30 catering units flagged: What UP food safety officials found during inspections

The Uttar Pradesh Food Safety and Drug Administration (FSDA) suspended operations at a railway base kitchen in Lucknow and cancelled the food registration of an establishment in Saharanpur after inspections uncovered food safety and hygiene lapses. The drive covered 41 railway catering units and two airline food suppliers. Officials seized 978 kg of unlabeled food items in Kanpur Nagar and collected 26 samples for laboratory testing.

16 Oct 2026 9:15 pm
India sets zero sugar diversion for ethanol in 2026/27 tender

India has instructed oil marketing companies to cease sugar diversion for ethanol production by the year 2026-27. This decision arises amid rising sugar prices and concerns over domestic sugar supply due to poor rainfall. Ethanol from sugarcane juice and other sugar-based feedstocks will not be included in the latest tender. The government aims to boost domestic sugar production and curb oil imports as part of its policies.

16 Oct 2026 9:09 pm
Billionaire MacKenzie Scott donated $15 million to African conservation group; How her generous contributions helped 28 organisations sustain ecology in Africa

MacKenzie Scott has made a significant $15 million donation to the conservation organization Maliasili. This gift aims to enhance community-led conservation efforts throughout Africa, fostering sustainable ecological practices. Maliasili plans to strengthen over 100 African organizations and develop 400 leaders by 2030. Scott's funding will assist in mobilizing additional resources for these partner organizations over time.

16 Oct 2026 9:03 pm