The rate hike, the Fed’s 11th in its last 12 meetings, set the benchmark overnight interest rate in the 5.25%-5.50% range, and the accompanying policy statement left the door open to another increase.
The government is planning to introduce alternate financing models, including export factoring services and trade credit insurance, to support MSME exporters. This initiative aims to
India’s average Customs tariff has reduced to 10.66% from 11.65%, aligning with ASEAN countries. This rationalisation aims to improve trade perceptions and support domestic manufacturing.
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