Economy News ( English version)

Union Minister Harsh Malhotra announced that 40,943 applications were filed under the Insolvency and Bankruptcy Code (IBC), with 28,818 resolved pre-admission, involving Rs 10 lakh crore. The IBC's introduction in 2016 improved India's global rank in resolving insolvency, facilitating a better environment for ease of doing business.

India's exports to the US may drop by 3-3.5% due to new reciprocal tariffs. However, this impact can be offset by setting higher export targets in manufacturing and services. Additionally, India is pursuing FTAs with the UK, Canada, and the EU to boost trade and leverage digital economy growth, potentially adding $1 trillion to GDP by 2025.

India's trade deficit narrowed to $14.05 billion in February, down from $22.9 billion in January, beating economists' expectations of a $21.65 billion deficit. However, India's exports were affected by concerns over the looming impact of proposed US tariffs, set to begin on April 2.

India and New Zealand will resume talks for a proposed Free Trade Agreement (FTA), Prime Minister Narendra Modi announced on Monday. The FTA negotiations had stalled in 2015 due to disagreements over sensitive areas like dairy and agriculture.

The Central government proposes returning unused land acquired for highway projects to original owners after five years and limiting compensation challenges to three months post-award announcement. Amendments aim to expedite land acquisition, involve multiple ministries, and enhance transparency in compensation determinations.