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Datanomics: Indian students' dreams of studying abroad still in limbo
study abroad.
Blurring American dream
Indians' share in the total F1 (student) visas issued by the US has nearly halved from 29.35 per cent in 2022-23 (FY23) to 15.65 per cent in the first eight months of FY25, marking a near 38 per cent year-on-year decline.

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Business Standard
13 minutes ago
- Business Standard
India fails to secure exemption from UK carbon tax in trade deal: GTRI
The UK government in December 2023 decided to implement its Carbon Border Adjustment Mechanism (CBAM) starting 2027 Press Trust of India New Delhi India was unable to secure an exemption from the UK's carbon tax in the free trade agreement, signed on Thursday, a move that will impact India's carbon-intensive exports to Britain, think tank GTRI said on Friday. The UK government in December 2023 decided to implement its Carbon Border Adjustment Mechanism (CBAM) starting 2027. By not securing a carve-out or exemption clause on CBAM (carbon border adjustment mechanism), India lost a vital opportunity to protect its carbon-intensive exports, the Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. "From January 2027, the UK can impose carbon taxes on Indian steel and aluminum, even as we grant UK goods duty-free access. That's a serious asymmetry. Expect the same treatment in India's trade agreement with the EU," he said. The GTRI in May stated that India's exports worth USD 775 million to the UK may be impacted due to Britain's decision to introduce a carbon tax on products such as iron and steel, aluminium, fertiliser, and cement, from 2027. The UK, after the European Union (EU), will be the second economy to implement CBAM. The tax will initially focus on sectors like iron, steel, aluminum, fertiliser, hydrogen, ceramics, glass, and cement. This tax could range from 14-24 per cent. India has earlier flagged serious concerns over this tax, terming it a trade barrier. An official has said that New Delhi has preserved its right to retaliate or rebalance concessions, if future measures impact domestic exports. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)


New Indian Express
13 minutes ago
- New Indian Express
RBI Governor says FTA with UK will help India, bats for more such pacts with other nations
MUMBAI: Reserve Bank Governor Sanjay Malhotra on Friday welcomed the signing of the free trade agreement with the UK, saying it will help multiple sectors of the Indian economy. Speaking at the FE Modern BFSI Summit here, Malhotra said multilateralism has "unfortunately" taken a back seat, and the country needs more such pacts (like the UK FTA) with countries and added that negotiations with the US are in advanced stages. "Hopefully, it (UK FTA) should help is the way going forward now, because unfortunately multilateralism seems to have taken a back seat," Malhotra said in the central bank's first comments on the trade deal with the UK signed in London. "It should help various sectors in our manufacturing as well as on the services side," Malhotra added. Malhotra said that given the current realities, where multilateralism has taken a back seat, it is necessary for India to have more such pacts with other countries. He also acknowledged that there are many more such pacts in the negotiation stage. India and the UK signed the FTA during Prime Minister Narendra Modi's two-day visit to the UK. The agreement has been in the making for many years now and will open up markets for both countries across goods and services. Meanwhile, Malhotra backed his US counterpart Jerome Powell for his work on upholding the Federal Reserve's independence, at a time when US President Donald Trump has gone public with his disagreement with its policies. "He (Powell) is doing a very good job. Maintaining the independence of the central bank is very important. I think he has done a commendable job," Malhotra said. On cryptocurrency regulations, Malhotra said the government-appointed panel to look into the issue in India will take into account the RBI's concerns. There is no work for a separate currency for the BRICS grouping, the RBI governor said, maintaining that like any other country, India is working on popularising its own currency, and the US dollar is here to stay. India has an agreement with the UAE and is also looking at some arrangement with Maldives on the rupee trade, he said. "The dollar is here, as you're all aware, it's going to be here, you know, for some time, for a longish time. It's because you need some universal cross-border currency," the RBI governor said. Meanwhile, he also appreciated the work done by the Ministry of Petroleum in managing the oil procurement despite the sanctions on Russia.


Mint
13 minutes ago
- Mint
Oil Steadies on US Trade Deal Optimism, Diesel Tightness
Oil was steady on optimism over US trade talks ahead of a key deadline next week, and as tightness in diesel markets boosts sentiment. Brent crude was above $69 a barrel after adding 1% on Thursday, while West Texas Intermediate traded near $66. Indian Commerce Minister Piyush Goyal said he was confident that his country could reach an agreement with the US before the Aug. 1 target date, while Brazil and Mexico looked to broaden trade ties. Meanwhile, diesel prices have soared, leading to steep premiums for niche crude grades that yield more of the fuel and injecting much-needed strength into a bogged-down oil market. The latest European Union measures restricting Russian energy imports have also added to the tightness, according to TotalEnergies SE. Crude has remained in a holding pattern this month, but is down for the year as increased supply from OPEC adds to concerns over a looming glut. The group will next meet on Aug. 3 to decide on production levels. On Thursday one member, Venezuela, was given a production reprieve by a US decision to let Chevron resume pumping oil in the country. 'The only strength right now is coming from the diesel markets,' said Florence Schmit, an analyst at Rabobank. 'The US government's backpaddling on curtailing Venezuelan oil supplies will only add to a relatively loose supply balance later this year.' To get Bloomberg's Energy Daily newsletter in your inbox, click here. With assistance from Rob Verdonck and Yongchang Chin. This article was generated from an automated news agency feed without modifications to text.