Business News: IndiGo Flights Get Costlier, GST Meeting to Mercedes-Benz — Top Updates of the Day

Business News: Several important developments in business and the economy are making headlines on Tuesday. IndiGo has increased its fuel surcharge on domestic and international flights, making air travel more expensive. Meanwhile, trade imbalance remains a key issue in ongoing India-US trade negotiations. Union Commerce Minister Piyush Goyal met several leading business executives in New York to discuss investment and partnership opportunities in India.

Other major updates include the upcoming GST Council meeting, Mercedes-Benz price hikes and a legal dispute involving Starbucks in the US.

IndiGo Flight Tickets to Become More Expensive

IndiGo has increased its fuel surcharge on domestic and international flights from Tuesday. The surcharge has been raised by ₹100 to ₹350, depending on the distance of the journey.

According to the airline, the fuel surcharge will be ₹375 for flights covering around 500 km. For journeys of up to 1,000 km, the surcharge will be ₹600, while passengers travelling up to 1,500 km will pay ₹900.

For flights covering up to 2,000 km, the surcharge has been set at ₹1,150, while journeys beyond 2,000 km will attract a surcharge of ₹1,300. International flight charges will vary depending on the destination region. The surcharge for flights to Europe has reportedly been set at ₹10,000.

Trade Imbalance Remains a Major Challenge in India-US Trade Talks

India and the United States continue to negotiate a trade agreement. However, several issues remain difficult, particularly when it comes to further concessions from either side.

Finance Minister Nirmala Sitharaman has said that the trade imbalance is among the key issues affecting economic relations between the two countries. She said India needs to determine the direction of its trade agreements while keeping national interests in mind amid changing global economic conditions.

Piyush Goyal Meets Business Leaders in New York

Union Commerce Minister Piyush Goyal, who is on a visit to the United States, held meetings with several prominent business leaders in New York. Discussions focused mainly on investment, partnerships and new business opportunities in India.

Goyal met Jonathan Gray, President and COO of Blackstone; George Walker, Chairman and CEO of Neuberger Berman; and Stéphane de La Faverie, President and CEO of The Estée Lauder Companies.

During the meeting with Blackstone, discussions focused on new investment and partnership opportunities in India. With Neuberger Berman, Goyal discussed opportunities to strengthen cooperation in financial services and wealth management.

With Estée Lauder Companies, discussions covered expanding manufacturing and sourcing in India as well as opportunities in the country’s rapidly growing beauty and personal care market.

Goyal said India’s strong macroeconomic fundamentals and developing capital markets offer global institutional investors significant opportunities for long-term value creation.

GST Council Meeting Rescheduled for October 8

The date of the 57th GST Council meeting has been changed once again. The meeting will now be held on October 8, instead of the earlier proposed date of October 7.

The meeting, chaired by Finance Minister Nirmala Sitharaman, may discuss changes to GST registration, return filing and the refund process.

The Council may also consider a proposal to allow businesses to obtain GST registration across multiple states through a single application. A simplified form is reportedly being prepared for this purpose.

More than 1.68 crore businesses are reportedly registered under the GST system in India.