New Delhi: The central government has announced that excise duty exemption, which was previously applicable to petrol blended with 20% ethanol (E20), will now extend to higher blends of 22%, 25%, 27%, and 30% ethanol (E30).

The notification clarified that blending ethanol with petrol at fuel depots is considered a manufacturing activity, which normally attracts excise duty. To avoid this, the exemption has been introduced as a regulatory measure and to encourage wider public use of ethanol-blended petrol.

The decision also aims to reduce crude oil imports and increase the use of biofuels. With crude oil prices rising due to the West Asian conflict, petrol and diesel prices have surged by up to ₹7.50 per litre. To protect consumers, the government had already reduced excise duty on petrol and diesel by ₹10 per litre in March.

This latest exemption is expected to strengthen India’s biofuel adoption strategy, promote cleaner energy, and support farmers engaged in ethanol production.

In Chennai, the price of ornamental gold fell sharply today, dropping ₹2,400 per sovereign to ₹1,08,000. Over the past two days alone, gold has declined by more than ₹5,000.

Market fluctuations have been driven by Middle East tensions, global economic conditions, and the rupee's strength against the U.S. dollar. After nine consecutive days of decline, gold briefly rose ₹1,040 per sovereign, but then fell again by ₹3,200 yesterday.

Today, one gram of gold dropped ₹300 to ₹13,500. For 24-carat gold, the price fell ₹2,616 per sovereign, settling at ₹1,17,824. Silver prices remained unchanged at ₹260 per gram and ₹2,60,000 per kilogram.

According to Chennai Jewelers' Association General Secretary Santhakumar, international crude oil price hikes have reduced gold's value from $4,300 to $4,100 per troy ounce. With stronger rupee value and lower global demand, gold prices are expected to remain volatile for the next few weeks.

Indian equity benchmarks opened higher on Wednesday, driven by gains in blue‑chip stocks and easing crude oil prices.

The 30‑share BSE Sensex surged 303.73 points to 74,222.49, while the NSE Nifty advanced 85.40 points to 23,327.50 in early trade. Reliance Industries, ICICI Bank, Hindustan Unilever, Kotak Mahindra Bank, Asian Paints, and Trent were among the top performers. Tata Steel, Eternal Ltd, Adani Ports, and Tech Mahindra lagged.

Brent crude traded near USD 91.90 per barrel, providing relief to inflation concerns. Analysts noted that despite geopolitical tensions in West Asia, crude prices remain below USD 93, signaling limited market impact.

Global cues were mixed, with Asian indices including Kospi, Nikkei, SSE Composite, and Hang Seng trading lower, while US markets closed mostly down on Tuesday.

Foreign Institutional Investors (FIIs) sold equities worth ₹4,566 crore on Tuesday, even as domestic benchmarks posted gains — Sensex up 394.50 points and Nifty higher by 119.10 points.

The Centre is reshaping India's Bilateral Investment Treaties (BITs) with three defining principles:

A minimum two-year period for exhausting local remedies before international arbitration.

No most-favoured nation (MFN) clause in future agreements.

Exclusion of tax-related provisions from investment pacts.

Officials say the move is aimed at protecting sovereignty and ensuring Parliament's powers are not bypassed. "Local remedies cannot be skipped by heading straight to international arbitration," a senior government source noted, adding that taxation will remain outside the scope of BITs.

The current BIT framework, adopted in 2016, already mandates exhaustion of domestic remedies. However, the revised model shortens the waiting period compared to the earlier five-year requirement, with flexibility for one-year cooling windows in select negotiations.

Finance Minister Nirmala Sitharaman has emphasized that BITs should be negotiated separately from free trade agreements, handled by specialists, and designed to balance investor protection with national interests. Economists and policymakers remain divided on the impact of BITs on foreign direct investment, with some arguing that cumulative treaties matter more than individual agreements.

India's recalibration follows global trends, with countries like Australia shifting towards State-to-State Dispute Settlement (SSDS) instead of traditional investor-state arbitration.