EXPORTS TO THE US
Tehran says restrictions on Iranian oil come with a price
Iran's top official warned global fuel prices will remain unstable unless pressure on its oil exports ceases. He stated a free oil market is essential for everyone's security. Oil prices surged as tensions between Iran and the US disrupted tanker traffic in the Strait of Hormuz.
Strait of Hormuz closed again over US blockade, says Iran military command
Iran's military command has announced the closure of the Strait of Hormuz, a vital energy shipping channel, citing a US blockade. This move follows alleged US-Israeli strikes and Iran's prior threat to charge fees for passage. The strait is crucial as it handles approximately one-fifth of global oil and LNG supplies.
India replaces China in US smartphone supply chain, captures 40% share: Report
India has emerged as a key supplier of smartphones to the United States, meeting about 40 per cent of the demand that was earlier fulfilled by China, according to a recent report by McKinsey & Company.
US Section 301 probe: India textile body TEXPROCIL pushes back on USTR excess capacity allegations
TEXPROCIL has responded to US investigations on excess manufacturing capacity and forced labor. The Indian textile body rejects these claims, highlighting strong domestic demand. India's cotton textile sector is primarily driven by local consumption, with exports forming a small portion. Any negative US action could harm trade ties.
Nvidia CEO Jensen Huang warns against curbs on US chip sales to China
Nvidia chief executive Jensen Huang has cautioned against US restrictions on advanced chip exports to China, warning that the curbs are accelerating Chinese capabilities and hurting American companies. The statements were made on a podcast hosted by Dwarkesh Patel on April 15.
Asia relying on US crude to replace Middle East supply
Asian fuel makers are turning to US crude oil. This shift is driven by disruptions in Middle Eastern supply. Countries like Japan and South Korea are buying more American oil. This is impacting global oil flows. The situation threatens to cause fuel shortages. US oil exports are reaching record levels. This trend is expected to continue.
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EU trade surplus shrinks 60% as US exports fall due to tariffs
The European Union's trade surplus saw a major drop in February. Exports to the United States fell by over a quarter. This decline is linked to US import tariffs on EU goods. Overall EU exports decreased, while imports also reduced. This situation impacts trade relations between the EU and the US.
India’s current account deficit may rise to 2% of GDP in FY27 if oil stays at $82–87: CRISIL
Rising oil prices could push India's current account deficit to a concerning two percent of GDP, as highlighted by a Crisil report. This prediction hinges on the volatile global market conditions we’re currently facing. While US tariff reductions may bolster exports to some extent, the ongoing unrest in West Asia is another pivotal aspect that could affect the situation.
Labour-intensive sectors see steep fall in exports in March
The fiscal year 2026 brought a mixed bag for India's exports. On one hand, engineering goods, electronics, and pharmaceuticals excelled, driving growth. On the flip side, textiles and gems were hampered by market fluctuations. Disruptions in West Asia's trade routes complicated logistics, affecting shipments significantly. Interestingly, electronics imports surged, crossing the $100 billion threshold.
Pharma exports fall to five-year low in March amid West Asia crisis
India's pharma exports saw a sharp 23.17% fall in March. The West Asia war disrupted shipping routes and air transit hubs. This led to increased freight costs and potential losses of ₹2,500-₹5,000 crore. Despite strong growth earlier in FY26, the conflict impacted crucial transit points like Dubai and Abu Dhabi. This affected the flow of vital medicines to global markets.
ET Family Business Awards: Off the beaten highway, A ticket to ride in 160 countries
Balkrishna Industries Ltd, or BKT, is a major player in the global off-highway tyre market. Exports are crucial, driving significant revenue. The company is investing heavily in new tyre segments and rubber tracks. This expansion aims to boost revenue substantially by FY30. BKT's growth strategy is set to reshape its future.
US lawmakers scale back bill targeting Chinese chipmaking
A US bill to limit China's access to advanced chipmaking equipment has been modified. The legislation still aims to restrict ASML's deep ultraviolet lithography machines. The bill seeks to align international controls on technology. Manufacturers expressed concerns about the earlier version. The House Foreign Affairs Committee plans a vote next week.
TCS declares Nashik WFH; Wipro Q4 results
Tata Consultancy Services has moved staff to work from home amid an ongoing investigation at its Nashik office. This and more in today’s ETtech Top 5.
West Asia War: India could limit sulphur exports as supplies tighten, sources say
West Asia War: India may soon limit its sulphur exports. Industry groups have raised alarms about rising prices and supply chain issues. This move could further impact global sulphur costs. Middle Eastern supplies are already strained by regional conflicts. China will also restrict sulphuric acid exports next month. India relies heavily on imports for its sulphur needs.
Engineering exports hit record high in FY26; govt support, FTAs boost growth: EEPC’s Chadha
Indian engineering exports achieved a record $122.43 billion in FY25-26. This growth occurred despite geopolitical tensions and trade policy shifts. The sector demonstrated remarkable resilience and adaptability.
US-sanctioned supertankers enter Gulf despite blockade
A second U.S.-sanctioned supertanker has entered the Strait of Hormuz despite Washington’s blockade on vessels linked to Iranian ports, raising questions over enforcement. The move comes amid stalled U.S.-Iran talks, with Iran continuing crude exports near recent levels.
India's Apple component exports to China surge to record $2.5 billion under ECMS scheme
India's electronics exports to China are experiencing a significant surge. Apple's component manufacturing scheme is driving this growth. Indian vendors are now exporting parts to China, a reversal of past trends. This development is expected to boost India's overall exports to China substantially. The success highlights the impact of government initiatives on the electronics sector.
India's trade gap shrinks in March, swells in FY26
India's trade deficit saw a reduction in March as the West Asia conflict disrupted trade flows. Exports and imports both declined, narrowing the monthly deficit. However, the overall trade deficit for the fiscal year widened. Despite challenges, India achieved record exports of $860 billion in FY26, showcasing resilience. Several free trade agreements are expected to boost future trade prospects.
India stands by trade pact with US, trade negotiators to visit Washington next week
An Indian trade delegation will visit the US to discuss a bilateral trade agreement. Negotiations will focus on recalibrating the deal due to recent tariff changes. India aims to secure favorable terms and commitments. This engagement follows a call between Prime Minister Modi and President Trump. Discussions will also cover trade issues and investigations.
Geopolitical tensions cripple India-Middle East trade in March
India's trade with the Middle East saw a significant drop in March. Exports and imports fell by over 50 percent. This decline resulted from disruptions caused by the US-Israel attack on Iran. The Strait of Hormuz, a vital shipping route, faced temporary closure. This impacted shipments of gems, jewellery, engineering goods, and rice.
India‘s textile and apparel exports degrow by -2.22% in FY 26: Govt Data
Indian textile and apparel exports saw a decline in fiscal year 26. Exports in March also registered a year-on-year drop. This comes after the US imposed high tariffs. Meanwhile, India's import of raw cotton increased significantly. This surge followed a period of eased import duties.
China surpasses US as India's largest trading partner in FY26; trade gap swells to USD 112.16 bn
India's trade with China reached USD 151.1 billion in 2025-26, making it the largest partner. The trade deficit with China widened significantly. The US was previously the top partner for four years. India's exports to China saw substantial growth, while imports also increased. Trade with the US showed marginal export growth and increased imports, leading to a reduced trade surplus.
India gem and jewellery exports rise to ₹2.44 lakh crore in FY26 amid global headwinds
In FY26, India's gem and jewellery sector reported an impressive ₹2,44,827.26 crore in exports, demonstrating a modest growth in rupee terms. However, exports in dollar value experienced a downturn amidst global market turbulence. To counter this, exporters expanded their reach, finding new opportunities in the UAE, Australia, and Canada.
For FDI, E-comm exports must be in separate cart
India is considering allowing FDI in inventory-based e-commerce exclusively for exports. This move aims to boost outbound shipments without affecting domestic retailers. Strict safeguards, including physical segregation of warehouses, are being evaluated to ensure export-bound goods are not sold locally.
West Asia conflict: India's soybean meal exports fall 63%
India’s soybean meal exports dropped nearly 63% to 60,000 tonnes in March, hit by high domestic prices and disruptions from the West Asia conflict, according to Soybean Processors Association of India. Shipments to key markets like Iran and the UAE were affected. However, domestic demand stayed strong, with consumption rising to six lakh tonnes, supported by the animal feed industry.
India's gems, jewellery exports dip 35 per cent in March on US-Iran conflict: GJEPC
India's gems and jewellery exports saw a significant drop in March, largely due to the West Asia conflict impacting logistics and insurance costs. Despite this setback, the industry is exploring opportunities to become a rough diamond trading hub. While demand weakened in some key markets, other regions provided support. The council anticipates a recovery as geopolitical tensions ease.
EXPLAINED: What does a US naval blockade of Iran mean for oil flows?
The US military will block ships entering or leaving Iran's ports. This action will stop about two million barrels of Iranian oil daily from reaching global markets. This move will further reduce the world's oil supply. Peace talks between the US and Iran ended without a deal. Iran's Revolutionary Guards warned of a harsh response to any approaching military vessels.
Oil prices jump 7% to top $102/ bbl ahead of US blockade on Iran
Oil prices jumped back above $100 a barrel on Monday as the U.S. Navy prepared to block ships to and from Iran via the Strait of Hormuz in a move that could restrict Iranian oil exports after Washington and Tehran failed to reach a deal to end the war.
West Asia war: Punjab industry hit by labour shortage, rising costs
The ongoing turmoil in West Asia is sending ripples through Punjab's industrial landscape. Manufacturers of textiles, bicycles, and automotive components are grappling with surging production costs and shipment delays. In response, businesses are exploring alternative fuel sources while trying to absorb or mitigate rising expenses.
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