Business
India’s Free Trade Deal With Europe To Take Effect From October 1, Says Piyush Goyal
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Goyal said the deal, which was finalised in March 2024, marks another major step in India’s global trade strategy
Union Commerce Minister Piyush Goyal (Image: PTI/File)
India’s Free Trade Agreement (FTA) with the European Free Trade Association (EFTA) countries — Switzerland, Liechtenstein, Norway and Iceland — will officially come into effect from 1 October 2025, Union Minister of Commerce and Industry Piyush Goyal announced on Monday.
Speaking at the valedictory session of the UP International Trade Show, Goyal said the deal, which was finalised in March 2024, marks another major step in India’s global trade strategy.
“Free Trade Agreement (FTA) with the EFTA countries (Iceland, Liechtenstein, Norway, and Switzerland), which was finalised in March 2024, will come into effect from October 1, 2025,” he said, referring to the EFTA bloc.
This agreement adds to a growing list of trade pacts signed by India in recent years, including with the UAE, Australia, and the UK. Goyal said India is currently negotiating similar agreements with 27 other countries, including the United States, the European Union and Peru. He also confirmed that terms for a pact with the Eurasian Economic Union have already been finalised.
“Countries around the world, including developed nations, are eager to sign free trade agreements with India,” he said.
The minister also spoke about the transformation of India’s economy since 2014. He noted that foreign exchange reserves have reached USD 700 billion, nearly three times more than what the current government inherited. He predicted that within the next two years, India would become a USD 5 trillion economy, making it the third largest economy in the world.
Highlighting recent economic performance, Goyal said India’s GDP grew 7.8% in the last quarter, while inflation dropped to 2%, the lowest since independence. “In the last ten years under Prime Minister Modi, India has seen the lowest average inflation,” he said.
Reflecting on the state of the economy in 2014, he reminded the audience that India was once labelled as part of the “Fragile Five” economies.
“Earlier, government resources like 2G spectrum, coal mines, iron ore mines, contracts, used to be handed over to relatives, associates, or party members. Modi ji ensured that everything is now given only through transparent auctions,” Goyal added.
(With inputs from ANI)
The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d…Read More
The News Desk is a team of passionate editors and writers who break and analyse the most important events unfolding in India and abroad. From live updates to exclusive reports to in-depth explainers, the Desk d… Read More
September 29, 2025, 19:21 IST
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A cyber attack on Jaguar Land Rover (JLR) cost it nearly £200m, the company has announced.
The UK’s largest car manufacturer said it has “made strong progress” in recovering its operations at pace since the attack.
JLR stopped production across its UK factories for five weeks from 1 September after being targeted by hackers a day earlier.
All of the group’s manufacturing sites – including factories in Solihull, West Midlands, and Halewood, Merseyside – restarted operations last month.
JLR has revealed it swung to an underlying loss of £485m over the second quarter of the year as earnings were knocked following a severe cyber attack.
The British luxury carmaker had made a profit before tax and exceptional items of nearly £400m over the same period in 2024.
It also reported a £134m loss for the six months to the end of September, from a £1.1bn profit the prior year.
JLR’s chief executive Adrian Mardell said the company’s financial performance was “impacted by significant challenges, including a cyber incident that stopped our vehicle production in September and the impact of US tariffs”.
The manufacturer revealed costs of £196m relating to the cyber attack.
The cyber attack on Jaguar Land Rover is thought to have been the UK’s most economically damaging hack and is estimated to have cost the country £1.9bn.
Research from the Cyber Monitoring Centre indicates that around 5,000 businesses nationwide have been hit by the fallout.
Its experts analysed the incident’s broad impact across the economy and supply chain to arrive at the figure.
Jaguar Land Rover halted production at its UK factories for five weeks from 1 September after being targeted the previous day.
This disruption led to warnings from suppliers that many faced collapse without rapid trading resumption or financial aid.
Business
Forget Hot Stock Tips: These 2 Money Habits Alone Can Help You Build Wealth Up To Rs 2 Crore
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Many investors focus on equities and the stock market, often overlooking a crucial component that should be part of every investment portfolio
Nitin Kaushik said that instead of chasing returns, people should focus on their behaviour, investment ratios, and discipline. (Representative/Shutterstock)
Social media is flooded with ‘quick riches’ advice and flashy stock tips, yet few ever see real results. Wealth creation, experts say, is far simpler than these trends suggest. Cutting through the noise, a chartered accountant has now shared a clear, practical mantra for building wealth, a formula he says works no matter one’s income is, whether it’s Rs 1 lakh or Rs 10 lakh.
Chartered accountant Nitin Kaushik took to X to explain that wealth stems from good habits, not just high returns.
In his post, he wrote, “Two money habits can make you rich quietly, while others stay busy chasing investments.” He believes real wealth is built through calm, consistent actions—small monthly investments, a clear budget, and periodic rebalancing.
According to Nitin Kaushik, the real problem is that most people lack a system. Whether someone earns Rs 100,000 or Rs 10 lakh, money disappears quickly if it isn’t directed with purpose. “Becoming rich doesn’t start with earnings, but with intentions,” he noted, emphasising that wealth depends more on mindset and discipline than on income.
Habit 1: Compound Interest
The first habit Kaushik highlighted is the power of compound interest, which he called “a force of nature.” Kaushik explained that investing Rs 25,000 a month at a 12% annual return can grow to about Rs 20 lakh in five years, but the same habit maintained for 20 years can build roughly Rs 2.4 crore. He advised that one should start as early as possible to let compounding work in thier favour.
Habit 2: Portfolio Rebalancing
The second habit is portfolio rebalancing. This involves adjusting investments periodically to maintain a balance between equity and debt (stocks and bonds).
He explained, “If you initially hold 70 percent equity and 30 percent debt, but as the market rises, the ratio becomes 85:15, rebalancing helps bring it back to the correct level.” Kaushik added, “It’s like pruning a tree. Pruning is not done to harm it, but to make it stronger.”
Kaushik summed up his thoughts in one line: “Compound interest builds wealth, rebalancing preserves it. One rewards your patience, the other secures your growth.” He added that instead of chasing returns, people should focus on their behaviour, investment ratios, and discipline, as these are the factors truly within their control.
Why Is It Important To Invest In Debt Funds?
Most people invest in equity funds or the stock market, but debt funds are often overlooked, even though they should be an essential part of every investment portfolio. Debt funds are mutual funds that invest in government bonds, corporate bonds, treasury bills, and other fixed-income securities. In simple terms, these funds lend money to companies or the government and earn income through interest.
The benefits of debt funds include:
- Stable returns and lower risk: Debt funds carry less risk and offer steady, predictable returns, making them a safer option for those wary of stock market volatility.
- Diversification: Debt funds balance a portfolio by providing stable returns when equities fall, maintaining overall balance and stability.
- Liquidity: Many debt funds allow for easy and quick withdrawals, unlike fixed deposits with lock-in periods, making them ideal for sudden cash needs.
- Tax benefits: Long-term debt fund investments (over 3 years) offer indexation benefits, reducing tax burdens and making them more tax-efficient than fixed deposits.
- Protection and opportunities from interest rate fluctuations: Debt funds can provide good returns when interest rates fall, as the value of older high-interest bonds increases, offering opportunities for investors.
- Ideal for new investors: Debt funds are a great entry point for those new to mutual funds, helping build investment habits with less risk.
Disclaimer:Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
November 14, 2025, 17:49 IST
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Jaguar Land Rover has plunged to a heavy loss after booking almost £200 million in costs linked to a major cyber attack which saw the firm shut its factories for more than a month.
The UK’s largest car manufacturer said it has “made strong progress” in recovering its operations at pace since the attack.
JLR stopped production across its UK factories for five weeks from September 1 after being targeted by hackers a day earlier.
All of the group’s manufacturing sites – including factories in Solihull, West Midlands, and Halewood, Merseyside – restarted operations last month.
However, it saw revenues plummet by more than £1 billion, around 24%, to £4.9 billion for the quarter to September.
It also swung to an underlying loss of £485 million over the quarter, sliding from a profit before tax and exceptional items of nearly £400 million over the same period in 2024.
In the update, it booked £196 million of extra costs linked to the cyber attack and £42 million related to voluntary redundancies.
The company said its performance was also impacted by US tariffs and a planned wind down in the production of previous Jaguar models.
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