China Supplies over 30% of India's Industrial Goods; Overdependence on Single Nation Critical: GTRI
India’s industrial imports are heavily weighted toward China, with the latter supplying roughly 30.8% of the nation’s industrial goods in FY 2025‑26. While China accounts for 16% of India’s total imports, its share jumps to 66% in high‑tech categories such as electronics, machinery, computers and organic chemicals. The reliance translates into a $112.1 billion trade deficit and exposes critical sectors to geopolitical and supply‑chain shocks. Analysts at the Global Trade Research Initiative urge India to cap single‑source dependence below 30% and boost domestic capacity.
ET Awards: Sitharaman Flags AI Threat and Global Risks, Says Reforms on the Way to Support India Inc Growth
Finance Minister Nirmala Sitharaman announced a new reform package aimed at reducing regulatory compliance burdens for Indian businesses, citing the need to cushion the impact of the West Asia conflict and rising commodity prices. She highlighted India’s strong domestic consumption as a...
India Must Identify Key Chokepoints, Mitigate Both Supply & Price Risks: EAC-PM Chairman S Mahendra Dev
India’s Economic Advisory Council chair S Mahendra Dev warned that the West Asia war exposes critical supply‑chain vulnerabilities across energy, food, fertilizers, metals and minerals. He urged the government to map these chokepoints, expand strategic petroleum reserves and commodity stockpiles, and diversify...
New Zealand to Sign FTA with India Tomorrow; Luxon Calls It ‘Once-in-a-Generation Deal’
New Zealand will sign a free‑trade agreement with India on Monday, a deal Prime Minister Christopher Luxon called “once‑in‑a‑generation.” The pact opens New Zealand exporters to India’s 1.4 billion‑person market, the world’s third‑largest economy. Luxon highlighted gains for key sectors such as kiwifruit,...
India Plans Global Diplomatic Push Across Europe, Africa, BRICS and Quad in May
India is launching an intensive diplomatic drive in May, with Prime Minister Narendra Modi touring Europe for the India‑Nordic summit and bilateral talks in Italy and the Netherlands. The country will host the fourth Africa Summit on May 31 and is...
Flour Millers' Body Calls for Greater Policy Stability, Stronger Industry-Government Coordination
The Roller Flour Millers’ Federation of India (RFMFI) urged the government to provide greater policy stability and deeper coordination after the release of the Rabi 2025‑26 wheat crop survey. The federation highlighted volatile price swings, rising input costs and squeezed...
Climate-Resilient Farming in the Age of Extremes
India’s agriculture, which employs 42 % of the workforce and adds 18 % to GDP, is facing record climate volatility. Unseasonal rain and hail affected 29 of the first 38 pre‑monsoon days across 24 states, and March saw crop damage on 65,000...
'New Chapter in India-New Zealand Economic Ties': Piyush Goyal as FTA Nears Signing
India and New Zealand are poised to sign a comprehensive Free Trade Agreement on 27 April 2026, marking a milestone in bilateral economic cooperation. The deal, negotiated in just 12 months, grants Indian exporters duty‑free access to the New Zealand market while protecting sensitive...
Separation Between Economics & Strategy that Was Taken for Granted Has Collapsed in 21stCentury
The Geoeconomic Monograph Series (G‑SAGE) webinar highlighted how economics and strategy are now inseparable in the 21st century, as multilateral trade rules fray and unilateral tariffs rise. Speakers examined Africa’s AfCFTA, South Asia’s BBIN power grid, and Taiwan’s semiconductor dominance as...
Forex Reserves Rise to $703 Billion; Rupee Slips 14 Paise
India's foreign exchange reserves jumped $2.3 billion to $703 billion in the week ending April 17, driven by higher foreign‑currency assets and a revaluation of dollar holdings. The rupee slipped 14 paise, closing at 94.25 per dollar, as foreign investors and private oil firms...
Credit Flows Jump 38% in FY26 as RBI Easing Boosts Demand
Credit flows in India surged 38% in FY26, reaching ₹44.6 lakh crore (≈$537 bn), after an 8% contraction the previous year. The RBI’s easing cycle—125 bps rate cuts, a 100 bps CRR reduction and ₹8.8 lakh crore liquidity infusion—pushed lending rates down to 9%, reviving demand. Outstanding...
US Slaps 123% Anti-Dumping Duty on Indian Solar Imports
The U.S. Department of Commerce announced a preliminary anti‑dumping duty of 123.04% on solar cells and modules imported from India. The duty, added to existing countervailing tariffs of over 125%, pushes the total tariff burden above 200%, effectively sidelining Indian...
West Asia Conflict, Supply Chain Disruptions May Create Challenges to Economy: RBI Bulletin
The Reserve Bank of India’s April bulletin warns that the ongoing West Asia conflict and related supply‑chain disruptions could pressure India’s economy through higher energy costs, rising input prices, and trade‑flow disturbances. While domestic activity remains broadly resilient, the bulletin...
West Asia Crisis: India, Qatar Discuss Ways to Boost Trade, Strengthen Supply Chains
India and Qatar met virtually to explore ways to expand bilateral trade and shore up supply‑chain resilience amid disruptions caused by the West Asia crisis. Trade between the two nations stood at $14 billion in FY24‑25, with both sides targeting a...
CCIL Chief Explains What Financial Markets Will Now Need to Keep Pace with Volatile Geopolitics
Rajeshwar Rao, chairman of the Clearing Corporation of India (CCIL), warned that future financial market infrastructure must become more agile, data‑driven and tightly integrated to keep pace with rapid technological shifts and a fragile geopolitical environment. He flagged cyber threats,...
Iran War, Oil Shock Fail to Dent India’s Private Sector Growth as April PMI Rises
India’s private‑sector activity accelerated in April, with the HSBC flash Composite PMI climbing to 58.3 from 57.0 in March. Manufacturing led the rebound, posting a PMI of 55.9 and an output index of 59.1, while services modestly rose to a...
India 'Tough Nut to Crack', Says USTR Greer as Negotiators Wrap up Trade Talks Round
U.S. Trade Representative Jamieson Greer called India a “tough nut to crack” as New Delhi’s delegation wrapped up a three‑day round of talks on a bilateral trade pact. The negotiations focus on India’s long‑standing protection of its agricultural markets, with distillers...
India's Digital Currency Push Targets Its Leaky Welfare System
India’s Reserve Bank is piloting the e‑rupee, a central bank digital currency, to streamline its $80 billion welfare system. The program, run with the World Bank and state partners, targets sectors like farm subsidies and food rationing, with an estimated 10 million...
Inside PepsiCo India’s Farm-to-Shelf Overhaul Amid Rising Costs, Shifting Consumer Demand
PepsiCo India is overhauling its farm‑to‑shelf supply chain to offset rising input and logistics costs while meeting heightened consumer demand for traceability and sustainable sourcing. The company now directly supports over 36,000 farmers across 14 states, guaranteeing 100% local sourcing...
India Seen to Line up Three Buffers for Its Economy Amid the Iran Storm: Fitch Unit
Fitch’s BMI unit says New Delhi will roll out three policy buffers to shield the Indian economy from fallout of the US‑Iran conflict. The first focuses on securing energy and critical inputs, invoking the Essential Commodities Act and curbing exports of...
Amazon Signs $30 Million Deal to Buy Carbon Credits From Indian Rice Farmers
Amazon has agreed to purchase carbon credits worth $30 million (about Rs 280 crore) from the Good Rice Alliance, a consortium led by Bayer with partners GenZero and Shell. The credits will be generated by more than 13,000 smallholder rice farmers across 35,000...
India, Taiwan Get Time Till October to Settle ICT Tariff Dispute
India and Taiwan asked the WTO dispute settlement body to postpone the adoption of a ruling on India’s ICT import duties until October 27. The dispute, launched in 2019, concerns India’s tariff that rose from 7.5% to 20% to spur domestic...
Andhra Pradesh Mango Pulp Industry Seeks Central Support
Mango processors in Andhra Pradesh have appealed to the Indian central government for emergency assistance after the West Asia conflict disrupted shipping lanes to the Middle East and Europe. About 2.5 lakh tonnes of mango pulp, worth roughly ₹1,000 crore (≈ $120 million), are stranded...
India, Korea Ink MoU to Boost MSME Ties
India and the Republic of Korea have signed a memorandum of understanding to deepen cooperation in the micro, small and medium enterprise (MSME) sector. The MoU establishes a structured framework for continuous dialogue, expert exchanges, business matchmaking, and joint technical...
Tweak Sought in Capital Norms for Urban Co-Operative Bank Licence
The Reserve Bank of India is reviewing proposals to lower the minimum capital requirement for urban co‑operative bank (UCB) licences from the previously suggested ₹300 crore (≈$36 M) to ₹200 crore (≈$24 M). It is also considering allowing financially sound co‑operative societies with at...
India’s Core Sector Growth Contracts 0.4% in March 2026
India’s Index of Eight Core Industries slipped 0.4% year‑on‑year in March 2026, reversing the 2.8% gain recorded in February. The decline was driven by sharp falls in fertiliser, crude oil, coal and electricity output. The index, which covers about 40% of...
India Growth Resilient, Markets Near Correction: HDFC Securities
HDFC Securities projects India’s real GDP to grow about 6.5% in FY 26‑27, with nominal GDP expanding 10‑11%. Inflation is expected to ease to roughly 4.5% and the fiscal deficit to hover near 4.3%, while capital spending could account for 32%...
South Korea's Lee to Seek Big Boost in Economic Ties in Summit with PM Modi
President Lee Jae Myung’s state visit to New Delhi, the first in eight years, aims to dramatically expand South Korea‑India economic ties. Officials target a near‑doubling of bilateral trade to $50 bn by 2030, up from $25.7 bn, while addressing a $12.8 bn...
Finance Ministry May Review MOOWR Benefits for Battery Storage Imports
India's finance ministry is set to consult the power and renewable energy ministries about the future of MOOWR customs‑warehousing benefits for imported battery storage systems. The scheme currently defers about 44 % of customs duty and 12 % GST, cutting upfront costs...
Multiple States to Borrow Rs 16,900 Crore Through RBI SGS Auction on April 21
India’s central bank announced that state governments will raise roughly ₹16,900 crore (about $2 billion) through a State Government Securities auction on April 21. The issuance includes fresh and re‑issued bonds from Andhra Pradesh, Punjab, Maharashtra, Rajasthan and Telangana, with tenors spanning 7...
CII Suggests GIS-Enabled Land Bank, Uniform Stamp Duty to Speed up Acquisition
The Confederation of Indian Industry (CII) has proposed a unified, GIS‑enabled national industrial land bank to provide real‑time data on land availability, zoning, utilities and title clarity. It also recommends a uniform, nationally‑guided stamp duty to eliminate inter‑state cost disparities...
Cabinet Clears Rs 12,980 Crore Maritime Insurance Pool to Cut Costs
The Indian Union cabinet approved the Bharat Maritime Insurance Pool (BMIP) with a sovereign guarantee of ₹12,980 cr (≈$1.6 bn) to provide continuous coverage for Indian‑flagged and India‑bound vessels. The pool, administered by GIC Re, will have an underwriting capacity of ₹950 cr (≈$114 m)...
Rupee Depreciation Forces Indian Firms to Adopt Yuan Payments, Boost Local Sourcing
Indian manufacturers are increasingly paying Chinese suppliers in yuan to offset the rupee’s 4‑5% slide against the dollar. Companies such as PG Electroplast and Super Plastronics have begun yuan‑based settlements, while Godrej Appliances is exploring the option. Retailer Lifestyle has...
Govt Clears UP Potato Buy at Rs 6,500/Ton, Hikes Gram Cap in Andhra Pradesh
The central government approved buying 20 lakh tonnes of potatoes from Uttar Pradesh at a market‑intervention price of ₹6,500.90 per tonne, costing roughly ₹203.15 crore (≈$24.5 million). It also raised the gram procurement ceiling in Andhra Pradesh to 1.13 lakh tonnes, up from 94,500...
Govt Strengthens DGFT Norms Committees to Speed up Export Authorisations, Cut Delays
The Indian Ministry of Commerce and Industry has overhauled the Directorate General of Foreign Trade (DGFT) Norms Committees to accelerate Advance Authorisation and Duty‑Free Import Authorisation approvals. Meetings are now fixed fortnightly, case prioritisation is enforced, and monitoring tightened. Technical...
Strait of Hormuz Crisis Spotlights Ship 'Flagging' Rules as India-Flagged Vessels Face Higher Compliance Burden
The recent Strait of Hormuz tension has highlighted the strategic importance of a vessel's flag, especially for Indian‑registered ships. Over two dozen Indian‑flagged vessels were stranded, but none suffered attacks thanks to naval escorts. India’s fleet now totals 14.2 million gross...
US Section 301 Probe: India Textile Body TEXPROCIL Pushes Back on USTR Excess Capacity Allegations
TEXPROCIL submitted a formal representation to the U.S. Trade Representative contesting Section 301 allegations that India’s cotton textile sector suffers from structural excess capacity and forced‑labour violations. The Indian Ministry of Commerce echoed the industry’s stance, emphasizing that over 80% of...
Govt Revisits Plan to Raise Wage Cap for PF Coverage
India's labour ministry is re‑examining a proposal to lift the Employees' Provident Fund (EPF) wage ceiling from the current ₹15,000 ($180) per month to as high as ₹25,000‑₹30,000 ($300‑$360). The move follows sharp wage hikes in the National Capital Region...
Corporate Affairs Ministry Proposes Easing Company Incorporation Rules
India's Corporate Affairs ministry has released a draft amendment to streamline company incorporation, collapsing 13 separate forms into just two electronic filings and merging name‑change and conversion paperwork. The proposal also raises the Director Identification Number (DIN) cap from three...
Singapore Emerges as Top FDI Source in Apr-Dec FY26, High Inflows From Tax Havens
Singapore topped foreign direct investment (FDI) equity inflows into India for the April‑December FY26 period, delivering roughly $17.6 billion. The United States and Mauritius followed as the next largest sources, while tax‑haven jurisdictions such as the Cayman Islands and Cyprus also...
India Explores FTA Full Use with Norway, Sets up Fast-Track Investment System with Austria
India and Norway deepened sectoral cooperation under the TEPA, targeting energy, maritime, pharma and biotech while tackling trade barriers such as SPS measures and certification. Norway’s sovereign wealth fund and Norfund are increasing renewable‑energy investments in India. Concurrently, India and...
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,...
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...