The Indian rupee, swaying through multiple headwinds, tiding over global trade disruptions and massive foreign fund outlfows, is unlikely to arrest its descent until tariff impact overhangs, notwithstanding robust domestic macroeconomic tailwinds. The Reserve Bank of India (RBI), which sees the rupee's depreciation as a silver bullet to offset the tariff shock, expects the currency to find its stable course once India reaches a trade deal with its largest trading partner, the US.
'We kept this Budget on a larger plank, rather than on one incident, however serious.'
India possesses approximately 100 million barrels of commercial crude oil stocks, capable of covering 40-45 days of its requirements if flows through the Strait of Hormuz are disrupted, according to Kpler.
A trade deal makes sense only if it is fair and reciprocal. If the cost is strategic dependence or loss of policy space, waiting is the wiser option, asserts Ajay Srivastava.
India has fully protected its sensitive sectors like dairy, rice, wheat, pulses, tea, genetically modified (GM) goods, and coffee by not granting any import duty concessions to the European Union (EU) under the bilateral free trade agreement, according to the Commerce Ministry.
India's manufacturing sector activity eased to a nine-month low in November, mainly owing to softer rise in sales and production amid reports of challenging market conditions, a monthly report said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) falling to 56.6 in November from 59.2 in October, highlighted the slowest improvement in operating conditions since February.
An hour before his bilateral meeting with Prime Minister Narendra Modi, Trump again commented on India's tariff structure, saying 'they have the highest tariffs' and 'it is a hard place to do business'.
The quarterly manufacturing index by the industry body Federation of Indian Chambers of Commerce & Industry (Ficci) rose to an all-time high in the third quarter of financial year 2025-26 (Q3FY26), with 91 per cent of respondents reporting either higher or same production levels, against 87 per cent in the previous quarter.
American sourcing firms and exporters in China are approaching Indian companies to supply goods to the US as high tariffs imposed by Washington are making it difficult for them to ship directly to America, apex exporters' body FIEO said on Monday. The US has imposed 145 per cent tariffs on Chinese goods entering the American market. For India, the duty is just 10 per cent.
Export-led Indian IT sector is not directly hit by Trump's tariff order on goods, but there could be worrisome indirect bearings on it arising out of possible slowdown in decision-making and GDP growth in America over higher tariffs, which may then cloud demand from specific verticals, according to some analysts.
Gold extended its record-breaking run to breach the Rs 1.5 lakh per 10-gram mark in futures trade on Tuesday, while silver surged to a lifetime high of Rs 3.27 lakh per kg as investors rushed to safe-haven assets amid mounting global tensions. On the Multi Commodity Exchange (MCX), gold futures for February delivery climbed Rs 6,861, or 4.7 per cent, to record Rs 1,52,500 per 10 grams after settling at Rs 1,45,639 per 10 grams in the previous session.
Reliance Industries cracked 4.42 per cent, while ITC, Kotak Mahindra Bank, InterGlobe Aviation, and HDFC Bank were also among the laggards. However, ICICI Bank, Sun Pharma, Hindustan Unilever, and State Bank of India were among the gainers.
PDP leader Iltija Mufti defends a cricketer who displayed the Palestine flag on his helmet, criticizing restrictions on freedom of expression in Jammu and Kashmir and accusing the BJP of imposing Hindutva ideology.
China's Ministry of Commerce announced Tuesday it will impose counter tariffs on multiple American products, including a 15 per cent tariff on coal and liquefied natural gas, and a 10 per cent tariff on crude oil, agricultural machinery, and large-displacement vehicles.
The US retaliatory tariffs are a major setback for the Indian gems and jewellery exports, apex industry body GJEPC said on Thursday as it urged the government to take steps to secure the long-term interest of the sector. The US has announced 27 per cent reciprocal tariffs on India saying New Delhi imposes high import duties on American goods, as the Donald Trump administration aims to reduce US' trade deficit and boost manufacturing.
'Credit growth in India remains in double digits, even though corporate borrowing is subdued.' 'Corporate credit is weak because companies are cash-rich and cautious amid global uncertainty.'
With the Iran war escalating sharply and crisis deepening in the global energy market, India on Monday unveiled a coordinated plan to support exporters and shippers caught in the fallout.
US Vice President JD Vance and his wife Usha, the first Indian-American Second Lady, are set to visit India early next week. Vance will hold talks with Prime Minister Narendra Modi during his visit. The visit comes amid global concerns over President Donald Trump's policy on tariffs. Vance's visit is likely to be more of a private trip though it will have official components.
"These latest so-called 'Liberation Day' tariffs are reckless and self-destructive, inflicting financial pain on Illinois at a time when people are already struggling to keep their small businesses afloat and put food on the table."
From the 30-Sensex firms, Tata Consultancy Services, Asian Paints, Maruti, Sun Pharma, Hindustan Unilever, ICICI Bank, Kotak Mahindra Bank, Tech Mahindra, HDFC Bank and Larsen & Toubro were among the biggest laggards. On the other hand, Tata Steel, NTPC, Axis Bank and UltraTech Cement were among the gainers.
US Ambassador to India Sergio Gor presented his credentials to President Droupadi Murmu. The ceremony took place at the Rashtrapati Bhavan. Gor's appointment was confirmed last year, and he previously served as the White House personnel director. He emphasized the importance of India-US relations and ongoing efforts to finalize a trade deal.
Stock market is gearing up for an eventful week ahead where key triggers such as quarterly earnings from corporates, the US Fed interest rate decision and the upcoming Union Budget for 2026-27 would grab the limelight, analysts said.
'The trade deficit in some sectors is huge and that is an area of opportunity to localise.'
The impact of United States President Donald Trump's reciprocal tariffs is not yet known and New Delhi's strategy to deal with the situation is to firm up a bilateral trade pact with Washington, DC by fall of this year, External Affairs Minister S Jaishankar said on Wednesday.
Trump on February 1 had announced tariffs on major US trading partners Canada, Mexico and China. He imposed a 25 per cent tariff on Canadian and Mexican imports and a 10 per cent on goods from China.
The rupee witnessed a volatile trading session and settled for the day on a slightly lower note, down 1 paisa at 90.66 against the US dollar on Monday, as traders assessed the details of the India-US interim trade framework.
India's exports jumped by 19.37 per cent to $38.13 billion in November, while imports dipped by 1.88 per cent to $62.66 billion, according to government data released on Monday.
India has stated it will wait for the outcome of the elections in Bangladesh and the resulting mandate before addressing any existing issues. The country also affirmed its support for free, fair, inclusive, and credible elections in Bangladesh.
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Amid the ongoing global tariff war, Reserve Bank Governor Sanjay Malhotra on Wednesday said he is more worried about its impact on growth than inflation. Speaking to the media after presentation of the first bi-monthly monetary policy for the current financial year, Malhotra said, RBI has reduced the growth forecast for 2025-26 by 20 basis points to 6.5 per cent.
Sitharaman continues with the tradition she set in 2019, carrying the budget speech in a 'bahi-khata', which she used after dropping the briefcase tradition.
'Calibrated depreciation will help rebalance external fundamentals, offset some of the tariff differentials with competitors, improve the competitiveness of domestic substitutes vis-a-vis Chinese imports, and contribute to the easing of financial conditions at a time when the inflation rate is unusually low,' explains Sajjid Z Chinoy, head of Asia Economics at JP Morgan.
Mahindra & Mahindra, Bharti Airtel, Infosys, Tata Motors, Titan, Tata Consultancy Services, Nestle and Maruti were also among the major laggards. HDFC Bank emerged as the only gainer from the pack.
The US is expected to push for sweeping changes in India's policies, ranging from tariff reductions to regulatory overhauls, that could benefit American firms and exporters, under the proposed bilateral trade agreement with India, think tank GTRI said on Sunday.
The first phase of the proposed India-US bilateral trade agreement (BTA) is 'nearing closure' and would address the hefty 50 per cent tariffs imposed by the Trump administration on Indian goods, in addition to resolving America's market access issues, a government official said on Monday.
Stock markets closed higher on Friday after the Reserve Bank of India kept its benchmark interest rate unchanged as expected and proposed allowing banks to lend to Real Estate Investment Trusts (REITs) with certain prudential safeguards to deepen the financing pool for the real estate sector.
United States President Donald Trump has announced a 25 per cent tariff on imports from Canada and Mexico, as well as a 10 per cent tariff on goods from China, citing concerns over illegal immigration and the smuggling of drugs, including fentanyl.
From the Sensex firms, Tata Steel tanked the most by 4.57 per cent. ICICI Bank, Power Grid, HCL Tech, Tech Mahindra, Infosys and Kotak Mahindra Bank were also among the laggards. Mahindra & Mahindra, State Bank of India, ITC and Bharat Electronics were among the gainers.
From the Sensex pack, Zomato jumped nearly 5 per cent, followed by Titan which climbed almost 4 per cent. IndusInd Bank, Maruti, Tech Mahindra, Adani Ports, Bharti Airtel and HDFC Bank were also among the gainers.
