Here are some of the top business news stories from India as of March 31, 2025:

 Here are some of the top business news stories from India as of March 31, 2025:

Trade and Economy

  • India Proposes Tariff Reductions to Secure U.S. Trade Deal: India has offered to lower tariffs on various U.S. agricultural imports, including almonds, walnuts, cranberries, pistachios, and lentils. Additionally, the country is considering reducing import taxes on U.S. liquefied natural gas (LNG). These measures aim to finalize a trade agreement with the United States and mitigate potential reciprocal taxes.
  • India Abolishes 'Google Tax' Amid U.S. Tariff Concerns: In an effort to ease trade tensions with the United States, India has repealed the 6% "Google tax" on online advertisements. This tax, introduced in 2016, targeted foreign tech companies operating without a physical presence in India. The removal is intended to facilitate smoother trade negotiations and prevent impending U.S. tariffs that could impact India's pharmaceutical, apparel, and jewelry sectors. ​

Corporate Developments

  • Saudi Aramco Explores Investments in Indian Refineries: Saudi Aramco is in discussions to invest in two upcoming refineries in India, collaborating with Bharat Petroleum Corp in Andhra Pradesh and Oil and Natural Gas Corp in Gujarat. This initiative seeks to secure a consistent market for Saudi crude oil amid increasing competition from alternative suppliers.

Market Updates

  • Stock Markets Closed for Eid al-Fitr: The Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) are closed today, March 31, 2025, in observance of Eid al-Fitr. Trading will resume on April 1. Additional market closures in April include Shri Mahavir Jayanti, Dr. B.R. Ambedkar Jayanti, and Good Friday.

Economic Outlook

  • Deutsche Bank CEO Projects Doubling of India's Economy by 2030: The CEO of Deutsche Bank has expressed confidence that India's economy can double in size to reach $7 trillion by 2030. He emphasized that the next five years are crucial for India's economic trajectory and highlighted the importance of inclusive growth driven by rising per capita income and structural transformation.

 

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