India's Trade Gap Shrinks in March, Swells in FY26
India’s trade deficit narrowed in March to $20.7 bn as both exports and imports fell amid the West Asia conflict, but the full FY26 gap widened 26% to $119.3 bn. Merchandise exports slipped 7.4% to $38.9 bn, while imports dropped 6.5% to $59.6 bn, reflecting sharp declines in Gulf trade. FY26 saw total trade (goods and services) reach a record $1.84 trillion, with engineering goods exports hitting an all‑time high of $122.4 bn. The government cleared an $11 bn Tata semiconductor SEZ and is gearing up to activate multiple FTAs in 2026‑27.
Govt's Wheat Procurement to Drop 69% Due to Delayed Arrivals
India’s wheat procurement for the 2026‑27 marketing year is projected to fall 69% to 1.53 million tonnes, down from 5 million tonnes a year earlier. Unseasonal rains delayed harvests, reducing both the quantity and quality of grain arriving at mandis. The Food...
India Stands by Trade Pact with US, Trade Negotiators to Visit Washington Next Week
India’s senior trade delegation, led by chief negotiator Darpan Jain, will travel to Washington from April 20‑22 to revive talks on a pending bilateral trade agreement, the first face‑to‑face meeting since October. The team says India remains committed but wants...
US Sec 301 Probe: India Rejects Allegations, Requests for Terminations of Both Investigations
India has formally rejected the U.S. Trade Representative’s Section 301 investigations into alleged excess structural capacity and forced‑labour practices, demanding a negative determination and immediate termination. The Indian Ministry of Commerce argues the initiation notice lacks specific policy evidence and relies...
SEBI Seeks CBDT Clarity on Tax Role of Authorised Representatives of FPIs
India’s securities regulator SEBI has formally requested the tax authority CBDT to define the tax responsibilities of authorised representatives (ARs) and representative assessees (RAs) appointed by foreign portfolio investors (FPIs). Under current income‑tax rules, FPIs must name an AR or...
Income Tax Dept Tightens Disclosure Norms Under Presumptive Taxation Scheme
The Income‑Tax Department will tighten disclosure norms for taxpayers using the presumptive taxation scheme starting assessment year 2026‑27. The revised ITR‑4 form, effective March 31, 2026, will mandate reporting of bank balances, investments, sundry debtors, sundry creditors and cash. The move aims...
Infra Spend up Six-Fold Since 2014, Crosses Rs 12 Lakh Crore: PM Modi
India’s annual infrastructure outlay has surged to roughly ₹12 lakh crore (about $145 billion), a six‑fold increase since 2014. Prime Minister Narendra Modi unveiled the 210‑km, six‑lane Delhi‑Dehradun Expressway, built at an estimated ₹12,000 crore ($1.5 billion). The project features a 12‑km elevated wildlife corridor and is part of...
Assets Monetisation in Focus to Bridge Potential Selloff Gap
The Indian government is accelerating its asset‑monetisation programme this fiscal year to offset a potential shortfall in disinvestment proceeds caused by West‑Asia market volatility and a delayed IDBI Bank sale. It has lifted the combined disinvestment and monetisation target to...
West Asia Conflict: India's Soybean Meal Exports Fall 63%
India’s soybean meal exports plunged 63% in March 2026, falling to 60,000 tonnes from 162,000 tonnes a year earlier, as high domestic prices and the West‑Asia conflict disrupted shipments. Key markets such as Iran, the United Arab Emirates, Kuwait and...
Reducing Fertiliser Import Dependence Vital: Jat, Secretary DARE
Secretary M L Jat of India’s Department of Agricultural Research and Education urged a rapid shift toward self‑reliant fertiliser use as part of the Atmanirbhar Bharat 2047 vision. India consumes roughly 33 million tonnes of fertiliser each year, with a sizable share imported, prompting...
India–US Eye 'Big-Ticket Energy Deals' Soon as PM Modi, Donald Trump Discuss West Asia Crisis
India and the United States are moving toward large‑ticket agreements, especially in energy, after a 40‑minute phone call between Prime Minister Narendra Modi and President Donald Trump. The leaders reviewed progress in their Comprehensive Global Strategic Partnership and stressed the...
IMF Raises India's Growth Forecast to 6.5% for FY27
The International Monetary Fund has lifted its forecast for India’s FY27 growth to 6.5%, up from 6.4% in January and 6.2% in October. The revision reflects a strong 2025 performance, a cut in U.S. tariffs to 10%, and offsets the...
WTO Likely to Release India's Trade Policy Review Report in July
The World Trade Organization will publish India’s Trade Policy Review (TPR) in July 2026 after a recent WTO secretariat delegation visited New Delhi. India, a top‑20 global trader, is reviewed every five years under the WTO’s schedule. The review will examine...
IMD Flags Below-Normal Monsoon for 2026; Rainfall Seen at 92% of Long-Term Average
India's India Meteorological Department (IMD) has projected the 2026 southwest monsoon to deliver 92% of the long‑term average rainfall, classifying it as below‑normal. The IMD defines below‑normal as any season falling below 96% of the long‑term average. The shortfall threatens...
India’s March Retail Inflation Quickens to 3.4% as US War on Iran Disrupts Global Trade Flows
India’s retail inflation accelerated to 3.40% in March, up from 3.21% in February, as U.S. naval actions against Iran disrupted global oil flows. The rise was partly driven by higher fuel costs, while gold prices fell about 11% and partially...
