GST Collections Hit Record ₹2.37 Lakh Crore in April, up 12.6%
India’s Goods and Services Tax (GST) collections reached a record ₹2.37 lakh crore in April 2025, marking a 12.6% year-on-year increase. This surpassed the previous record of ₹2.10 lakh crore set in April 2024. The surge in revenue includes ₹1.9 lakh crore from domestic transactions and ₹46,913 crore from import-related GST. After accounting for refunds, net GST revenue stood at ₹2.09 lakh crore, a 9.1% rise. Experts attribute the record collections to strong economic activity in March 2025, with broad-based growth across both producing and consuming states.
Amul Hikes Milk Prices by Rs 2/Litre Nationwide from May 1
Amul has announced a nationwide milk price hike of Rs 2 per litre across all fresh pouch variants, effective May 1, following a similar move by Mother Dairy. This translates to a 3–4% increase in MRP, still below average food inflation. The Gujarat Cooperative Milk Marketing Federation (GCMMF), which markets Amul, cited rising input and procurement costs as the reason. The revised prices aim to ensure fair returns to its 3.6 million milk producers, with 80 paise of every rupee paid by consumers going directly to farmers.
India’s Gold Demand falls 15% in Q1 2025 Amid Soaring Prices: WGC Report
India's gold demand dropped 15% year-on-year to 118.1 tonnes in Q1 2025, even as the value surged 22% to Rs 94,030 crore due to soaring prices, according to the World Gold Council. High prices impacted jewellery purchases, which fell 25%, but investment demand grew 7% amid market uncertainty. Despite the decline, cultural festivals and weddings continue to support overall sentiment.
Rupee Gains 38 Paise to Close at 85.03 Against U.S. Dollar on Strong Inflows, Equity Surge
The rupee gained 38 paise to close at 85.03 against the U.S. dollar on Monday, supported by strong foreign inflows, easing oil prices, and a rally in domestic equities. Forex reserves surged by USD 8.31 billion, while the Sensex and Nifty posted over 1% gains. Analysts remain optimistic but caution against potential geopolitical risks.
Apple Assembles $22B Worth of iPhones in India, Expands Premium Production and Cuts China Dependence
Apple has assembled a record $22 billion worth of iPhones in India over the past year, marking a major shift in its global supply chain strategy. With production up nearly 60%, India now contributes around 20% of global iPhone output. Backed by the Indian government's PLI scheme and growing local supplier participation, Apple is also expanding into premium model assembly, including the iPhone 16 Pro. This strategic shift comes amid U.S.-China trade tensions, positioning India as a key hub for Apple’s future manufacturing and exports.
