TARIFF REDUCTION
Mark Carney says Canada's economic ties with US are a weakness that must be corrected
Canada's close economic ties with the United States are now a weakness, according to Prime Minister Mark Carney. He announced efforts to strengthen Canada's economy by attracting new investments and signing trade deals with other nations. Carney emphasized the need for Canada to rely less on a single foreign partner.
Indian envoy to US meets US Trade Representative amid talks on finalising trade deal
India’s Ambassador to the US Vinay Mohan Kwatra met top American officials to advance talks on a bilateral trade agreement, as both sides refine key terms. With tariffs and global trade rules shifting, a deal is expected once the US finalises its new tariff framework.
IMF cuts China 2026 economic growth forecast to 4.4%
The IMF on Tuesday lowered its forecast for Chinese economic growth this year to 4.4 percent, despite reduced US tariffs and stimulus measures aimed at mitigating the impact of the Middle East conflict. The Washington-based organisation said "lower US effective tariff rates on Chinese goods, and stimulus measures offset the negative impact of the shock induced by the Middle East conflict" on the world's second-largest economy.
Earnings vs signals: Q4 results may matter more than they look
The March quarter earnings season arrives at an inflection point, with stable numbers masking underlying economic shifts. Escalation of the Gulf conflict introduced external shocks, with first-order impacts visible in rising input costs. Investors should focus on forward-looking signals as second-order effects are expected to unfold in Q1 FY27.
IMF raises India's growth forecast to 6.5% for FY27
The International Monetary Fund has raised India's GDP growth forecast to 6.5 per cent for the current fiscal year. India is set to be the world's fastest-growing economy. Other global institutions also show optimism for India's economic performance. Projections indicate continued strong growth in the coming years.
European Union agrees to double steel import tariffs to 50% to curb cheap inflows from China
The European Union has agreed to double steel import tariffs to 50% and cut duty-free quotas to curb a surge in cheap imports, largely from China. The move aims to protect domestic producers amid falling output and rising imports.EU Trade Commissioner Maros Sefcovic said the step is key to safeguarding industrial strength, while industry body Eurofer said it could help protect 230,000 jobs.
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Economic shock of Middle East war to cast shadow over IMF, World Bank meetings
Global finance leaders are meeting amid the Middle East war, a third major shock impacting the world economy. The IMF and World Bank are downgrading growth forecasts and raising inflation predictions, with emerging markets facing the brunt of higher energy prices and supply disruptions. Vulnerable nations require significant emergency support as debt levels soar.
India-UK free trade pact may come into force from second week of May: Official
The India-UK free trade agreement is set to begin in the second week of May. This pact will allow 99 percent of Indian exports to enter Britain duty-free. Tariffs on British products like cars and whisky will also be reduced in India. A separate agreement will prevent double social levies for temporary workers. This aims to boost trade significantly.
Falling trust in America is a Pandora’s box for the global economy
The TACO trade, a bet on Trump backing down from market-rattling actions, seems outdated as his Iran war and global policy shifts create unpredictability. Despite this, capital still flows to the US, drawn by its markets and the AI revolution, even as allies hedge their bets.
India has ample buffers to weather headwinds from Middle East conflict: World Bank
The World Bank stated India is well-positioned to handle the global energy shock due to strong buffers like high foreign exchange reserves and fiscal space. Despite global headwinds and trade turbulence, India's economy entered the current Middle East crisis from a position of strength, supported by robust domestic demand and export resilience.
India aiming to cut steel emissions by 25%, double capacity, document shows
India is set to boost its steel production significantly by 2035-36. The new National Steel Policy 2025 targets a substantial reduction in carbon emissions from steel mills. This ambitious plan includes increasing steel capacity and exports. The policy also focuses on reducing reliance on coal and promoting cleaner steelmaking methods. This initiative is crucial for India's net-zero emissions goal.
Shaktikanta Das reveals how India broke a ‘Chakravyuh’ and 7 steps for businesses to navigate war storm
During a keynote speech, RBI ex-Governor Shaktikanta Das emphasised India’s remarkable ability to weather global storms. He referred to the nation's strategic tactics as a 'chakravyuh' maneuver, underscoring the significance of focused fiscal and monetary policies. The strength of India's economy is reflected in its impressive GDP growth, supported by innovations in technology, solid infrastructure, and thriving internal demand.
SEZs seek duty relief for three years, higher domestic sales limit
Special Economic Zone developers and units are urging the government for extended domestic sales concessions. They want a three-year period instead of one year. A higher cap of 50% on domestic sales is also sought, up from the current 30%.
World Bank raises India’s FY27 growth forecast to 6.6%
India's economic growth forecast for FY27 is now 6.6 percent. This is an upgrade from previous projections. Strong domestic demand and exports are driving this positive outlook. However, global challenges may moderate growth. The Reserve Bank of India has a slightly higher forecast. Policy reforms are key for sustained growth and job creation.
India orders major airports to cut some charges by 25%, in relief to airlines
India's airport regulator has mandated a 25% reduction in landing and parking fees for domestic flights for three months. This decision aims to alleviate financial pressure on airlines, already impacted by the Iran war and airspace restrictions. The move follows requests from major carriers and will be addressed in future tariff reviews.
Iran war roils India's neighbourhood, emergency manoeuvres carried out to cushion energy blow
West Asia crisis: Pakistan is implementing strict energy-saving measures, including early closures for markets and weddings, to combat a fuel crisis. Other South Asian nations like India, Bangladesh, Nepal, Sri Lanka and Maldives are also introducing diverse strategies, from fuel duty cuts and reduced working hours to electricity tariff hikes and EV conversions.
Iran war impact on travel: How Jefferies is tweaking its hotel, airline stock portfolio
Jefferies has turned cautious on India’s travel sector as the Iran–Middle East war hurts international traffic, lifts fuel costs and weakens foreign tourist arrivals. It trims earnings for airlines, hotels and travel-tech names, while maintaining BUY ratings on GMR Airports, IndiGo and key hotel stocks.
South Asia battles fuel crunch amid Iran war fallout
South Asian nations are taking action to combat an energy crisis. Countries like India, Pakistan, Bangladesh, Nepal, Sri Lanka, and Maldives are introducing various measures. These include fuel price adjustments, reduced consumption, and shifts towards electric vehicles. The aim is to manage dwindling supplies and rising costs impacting millions.
CII's 20-Point Policy Agenda calls for coordinated fiscal, financial and trade response to West Asia crisis
Confederation of Indian Industry praises government and RBI for swift actions amid West Asia conflict. CII proposes a detailed plan to support industries, especially MSMEs. Recommendations include credit lines, moratoriums, and trade cost management. The agenda aims to bolster resilience and ensure India's economic stability against external shocks.
"Biggest drop in history": Trump credits tariffs for bringing down US trade deficit by 55%
Former President Donald Trump highlighted a substantial decrease in America's trade deficit. He attributed this reduction, along with robust job creation, to his administration's economic policies. Trump also mentioned efforts against Iran. The March jobs report indicated 178,000 new positions, exceeding expectations. The unemployment rate saw a decline.
India’s next reform push must target cost of doing business
India faces high business costs impacting competitiveness. Addressing credit, land, input, logistics, and compliance expenses is crucial. Benchmarking against nations like Vietnam and China offers a path forward. Lowering these costs will drive capacity expansion, boost exports, and create formal jobs. This is essential for sustained economic growth.
India’s ‘Lush’ green market is the new battleground for global beauty giants
International beauty brands are changing their India strategy. They are now focusing on online sales and reaching customers beyond major cities. Platforms like Myntra are key gateways for these brands. This shift is driven by a younger, digitally savvy consumer. Brands entering now are poised to shape India's beauty market for years to come.
A shield for India Inc: How govt is blunting the Iran war shock
West Asia crisis: In response to Iran war chaos, India has rolled out a set of targeted measures over the past few weeks aimed at cushioning these shocks without resorting to sweeping market interventions. The approach has focused on easing cash flow pressures, lowering key costs and ensuring supply continuity.
Trump to reduce steel, aluminum tariff rates for derivative products, sources say
The Trump administration is set to change its steel and aluminum tariff rules. Commodity steel and aluminum imports will face a 50% tariff. However, duties on derivative products made from these metals will be lowered to 15% or 25%.
One battle after another: How India fared in the year of Trump tariffs
Beginning April 2025, India found itself navigating turbulent waters due to sweeping changes in US trade policy led by President Trump. The imposition of tariffs posed a substantial threat to Indian exports, prompting New Delhi to innovate through strategic diversification and robust domestic reforms.
US manufacturing sector grows in March; supplier delivery performance deteriorates
American factories saw growth in March. However, costs for materials surged to a nearly four-year peak. Supplier deliveries also slowed, indicating supply chain issues. This is linked to the Middle East conflict impacting shipping. Higher prices could affect inflation and interest rate decisions. Manufacturing employment has seen a decline.
Not-so-happy new financial year!
Indian stock markets saw their worst year since the pandemic in FY26. Foreign investors sold a record amount of Indian shares. Global events like trade tariffs and regional conflicts impacted investor sentiment. The Rupee also declined significantly. Despite these challenges, India's economic fundamentals remain robust, offering resilience against global shocks. Market recovery hinges on energy price stability.
US tariffs drag India apparel export growth to modest 1.5%: ICRA
Indian apparel exports saw modest growth, impacted by US tariffs. A weaker rupee helped boost earnings in local currency. Shipments to the UK and UAE provided some relief. ICRA forecasts stronger revenue growth and improved financial health for exporters in the coming year. Geopolitical risks remain a concern for the sector.
Why China is investigating US green tariffs ahead of Trump’s visit
The probe targets restrictions on imports and technology cooperation. China aims to position itself as a key player in global decarbonization, contrasting its approach with perceived US protectionism.
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