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Business

India's Shift from Import Substitution to Quality Local Products

India's historical reluctance to accept locally made products as equal to foreign ones stems from the import substitution policy during the socialist era and Five-Year Plans. This policy aimed for economic self-reliance and domestic industry protection but neglected technology and quality, resulting in sub-par products. The shift in perception marks progress toward better quality local manufacturing in the 21st century.

Economic Times·

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Business

States to Measure GDP Using Expenditure Approach

The statistics ministry has introduced a new manual for states to calculate GDP using the expenditure approach. This method tracks household spending, government outlays, capital investments, and net trade, replacing the traditional production-based model that measured growth through factories, farms, and services. This marks a significant change in how state economic growth is assessed.

TOI Business·

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Politics

New J&K Business Rules Threaten Residential Areas and Environment

A Kashmir-based civil society group, led by former IAS officer Khursheed Ganai, warned that new 'Ease of Doing Business' rules in Jammu and Kashmir will allow extensive industrial construction in residential areas without permissions or clearances. The group fears these changes will cause widespread environmental damage and disrupt the lives of ordinary residents across the Union Territory.

The Hindu··Srinagar

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Politics

Pune Police File FIR Against 15 Over Navi Peth MPSC Protest

Pune police registered an FIR against 15 individuals, including MPSC student representatives, for an unauthorized protest on Shastri Road, Navi Peth, on October 1. The protest blocked traffic and disturbed public peace from 4 p.m. to midnight near Indulal Complex. The FIR cites multiple sections of the Bharatiya Nyaya Sanhita 2023 and Maharashtra Police Act, 1951. Permission was sought for a protest on October 2 at other locations.

The Hindu··Pune

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Politics

Trump Announces Major Diesel Supply Deal with Russia to Lower US Fuel Prices

US President Donald Trump announced a significant energy agreement with Russia to supply nearly 5 million tons of diesel fuel to global markets. Following a call with Russian President Vladimir Putin, the US Treasury issued a temporary license allowing diesel purchases from Russia until April 7 next year. This move aims to reduce US fuel prices ahead of the midterm elections amid inflation concerns.

HT World·

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Business

Piyush Goyal Says H-1B Visa Changes Will Boost Indian Startups

At the ET Startup Awards 2026 in Bengaluru, Union Commerce Minister Piyush Goyal stated that tighter US H-1B visa rules will not harm Indian companies or talent. Instead, he believes it will encourage more business and research within India, boosting the startup ecosystem. He also noted that global capability centers are increasingly being established in Indian cities like Bengaluru, Noida, Mumbai, and Hyderabad.

ET Tech··Bengaluru

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