💹 Economy & Policy
• GST collections rose despite rate cuts, supported by higher compliance and festive consumption under the new GST 2.0 regime.
• GST 2.0 reforms, including a rate reduction on small cars from 28% to 18%, have boosted affordability and industry-wide demand momentum.
• India’s defence exports surged to ₹23,622 crore, marking a significant leap as the country transitions from importer to global supplier of military equipment.
• Gems & jewellery exports to the U.S. dropped sharply in September due to tariff-related pressures and weaker discretionary demand.
🏦 Companies & Sectors
• Auto sector recorded its best-ever October, with Maruti Suzuki, M&M, and Tata Motors achieving record PV dispatches of 4.7 lakh units (+17% YoY), driven by festive demand and lower GST rates.
• Global miners offered rare earth oxides to Indian EV and auto companies, breaking China’s dominance and strengthening supply chains for Tata Motors and Ola Electric.
🌏 Global & Policy Developments
• Trump announced Nvidia will not be allowed to sell advanced AI chips to China, escalating tech trade tensions.
• China’s manufacturing PMI fell to 50.6, below expectations, indicating slower factory activity amid tariff uncertainty ahead of the extended Trump–Xi trade truce.