BRICS members have expressed 'serious concerns' over the unilateral imposition of trade and finance-related measures, including higher tariffs and non-tariff barriers, stating these actions distort trade and are inconsistent with WTO rules. The grouping also highlighted elevated risks to the global economic outlook due to geopolitical tensions, trade fragmentation, and protectionism.
'India should not trade away its energy security for temporary tariff relief. Neither signing a trade agreement nor stopping Russian oil purchases can protect it from future US action.'
Economic think tank GTRI has urged the Indian government to withdraw the proposed UPI charges, set to begin on October 15, arguing that the digital payment system should remain free for merchants and consumers. GTRI warns that these charges could lead to higher prices, reduced earnings for small businesses, and weakened household demand, while also benefiting international card networks by eroding UPI's price advantage. The think tank also called for an independent audit of UPI's running costs.
'It is a blunt and dangerous attempt to pressure India to sign BTA on one-sided terms.'
India has removed a key regulatory hurdle, allowing exporters to receive payments in Indian currency while retaining incentives under the country's foreign trade policy, a move aimed at promoting wider use of the rupee in international trade.
India's proposal to link BRICS payment systems, including central-bank digital currencies (CBDCs), was notably absent from the grouping's New Delhi Declaration, despite being a key agenda item for India's chairmanship. This omission leaves the 16-year effort for trade in local currencies without a settled payment architecture, with the declaration only 'acknowledging' the work of the BRICS Payment Task Force.
US President Donald Trump announced steep tariffs on imported generic medicines, effective from August 2028, with the aim of boosting domestic pharmaceutical production. This policy, which includes a phased increase in tariffs up to 200 per cent, could significantly impact India, a major global supplier of generic drugs to the US market.
'These limits will change. Very soon restrictions, restrictions will come.'
The US senate last week passed a bill that would allow Washington to impose tariffs on major buyers of Russian energy.
India is strategically positioned to develop a robust domestic semiconductor ecosystem, driven by increasing electronics consumption, strong government support through incentives, and a global shift in supply chains. Boston Consulting Group Managing Director Ankush Wadhera highlights India's potential as a safe haven for investments, with the AI boom further fuelling demand for advanced chips. The nation aims to expand its capabilities across the entire semiconductor value chain, attracting significant global and domestic investments.
The Brics proposal for a Grain Exchange, aimed at challenging the dominance of Western trading firms, faces significant operational and implementation hurdles, including settlement currency, regulatory frameworks, and limited participation from key members like India, according to experts.
This article details the quarter-century journey of BRICS, from its inception as an economic acronym by a Goldman Sachs economist to its current status as an expanded eleven-member international bloc. It highlights its growth, key historical moments, and the significance of its upcoming summit, particularly with Iran's renewed importance in discussions.
'All these reports and announcements by the US seem like attempts to gain a lever in trade deal negotiations with India.'
Russian President Vladimir Putin has proposed a new investment platform, based on the New Development Bank (NDB), to fund projects in trade, infrastructure, logistics, and technology across BRICS nations, emphasising that the grouping's expanding economic cooperation is not 'against anyone' but aims to advance members' national interests.
Investors are set to monitor quarterly earnings, crude oil prices, the Jio Platforms initial public offering, and foreign investor activity in the upcoming holiday-shortened week, according to market analysts.
'Tariff action relating to the excess-capacity investigation will be even more susceptible to judicial overturn.'
'If you listen to a rowdy in a class, he will keep on bullying you.' 'India can say do whatever you want. We will not compromise on anything.'
India-EU FTA opens a bigger European market for Indian carmakers while giving European brands greater access to India.
Monthly gold imports have declined to 25-30 tonnes from 70-80 tonnes while recycling of old jewellery has increased following the recent hike in import duties.
Indian benchmark stock indices, Sensex and Nifty, rallied significantly, with Sensex jumping over 1,500 points and Nifty reaching a nearly three-week high, driven by strong buying in banking, IT, and Reliance Industries stocks, alongside easing crude oil prices.
Indian benchmark indices, Sensex and Nifty, traded marginally higher in early trade despite the US Federal Reserve's recent rate hike and indications of further tightening, with the National Stock Exchange's much-anticipated Rs 22,569-crore IPO also opening for subscription.
Indian benchmark indices, Sensex and Nifty, experienced a sharp decline, with the Sensex tumbling 1,247.71 points and the Nifty settling below 23,100, primarily driven by a significant spike in crude oil prices and weak global market trends.
Indian stock market investors are closely monitoring crude oil prices, geopolitical developments in West Asia, and the implications of the US Sanctioning Russia and Iran Act, which could impose tariffs on countries, including India, that purchase Russian crude.
'It's very important for India to retain its sovereignty. India should not sign any agreement which compromises its sovereignty.'
Prime Minister Narendra Modi cautioned against the 'weaponisation' of technology and critical minerals at the BRICS summit, advocating for cooperation to foster shared prosperity. Concurrently, Chinese President Xi Jinping announced plans for an open-source AI ecosystem for BRICS nations, positioning Beijing as a key technology partner amid global AI competition.
The highlight of the successful BRICS Summit was its ability to deliver a joint statement that all members, including Iran and the United Arab Emirates, embroiled in the war in West Asia, signed.
The Indian IPO market recorded its highest monthly fundraising in September, with 34 mainboard companies raising 39,309 crore, despite a significant decline in the Nifty 50 index.
Indian benchmark indices Sensex and Nifty experienced declines in early trade, influenced by the escalating US-Iran standoff and persistently high crude oil prices, with experts predicting increased volatility.
The Indian stock market's trajectory this week will be significantly influenced by crude oil prices, global market trends, and the commencement of the corporate earnings season, with IT major TCS set to announce its June-quarter results on July 9.
Chinese President Xi Jinping addressed the BRICS summit, urging the bloc to play a significant role in achieving peace and tranquillity in West Asia and the Gulf region. He highlighted BRICS' growth over two decades, its efforts in tackling global challenges, and its steadfastness in safeguarding the interests of the Global South. Xi called for opposing the Cold War mentality, strengthening multilateralism, and promoting cooperation in emerging domains like AI, as China prepares to chair the next summit.
Indian benchmark equity indices, Sensex and Nifty, rebounded in early trade, driven by a recovery in world markets due to easing US Treasury yields and fresh foreign fund inflows, halting a multi-day losing streak. Track Sensex, Nifty on August 20.
Shares of Symbiotec Pharmalab Ltd, a pharma and biotech company, made a muted market debut, listing nearly 1 per cent lower on the BSE against its issue price of Rs 988, but later recovered to trade higher.
J R D Tata, chairman of the Tata group from 1938 to 1991, said that whenever he had to make a difficult decision, he would ask himself, what will be good for India, and what will be good for the Tatas. If he had a doubt, he would decide in favour of India. In the long run, it would turn out well for the Tatas too, he said, points out Arun Maira.
Indian benchmark indices, Sensex and Nifty, saw declines in early trade, influenced by rising crude oil prices and ongoing geopolitical tensions in West Asia. Experts suggest that crude oil remains a primary concern, with Brent holding near USD 88 a barrel due to renewed US warnings against Iran, embedding a geopolitical risk premium in energy markets. Track Sensex, Nifty
Indian benchmark equity indices, Sensex and Nifty, closed mixed on Friday. While a drop in crude oil prices offered some relief, weakness in IT stocks and several Tata Group counters, including a significant dip in Tata Chemicals and ongoing boardroom issues at Tata Sons, limited a broader market recovery.
BRICS Sports Ministers adopted a Joint Declaration in Visakhapatnam, reaffirming their commitment to strengthen sports cooperation through dialogue and mutual respect. The meeting, held under India's 2026 Chairship, saw Union Minister Dr. Mansukh Mandaviya call for a BRICS Sporting Partnership and introduce three key initiatives: a Working Group on Sports Technology, a Sports Manufacturing Conclave in Udaipur, and Traditional and Indigenous Sports Demonstration Games in Ahmedabad in 2026.
'The immediate impact for India will be very minimal as the share of Venezuela in our total overseas production is very low.'
Domestic steel prices have seen an increase over the past couple of months in anticipation of a safeguard duty, but a looming global trade war is likely to weigh as threat of import rises and prospect of export flounders. Data from BigMint showed that in March 2025, hot rolled coil (HRC) prices ex-Mumbai increased by Rs 600 per tonne month-on-month (M-o-M), rising from Rs 48,400 per tonne in February to Rs 49,000 per tonne.
India's trade deficit with China is expected to reach $106 billion in 2025 as imports are rising faster than the country's exports to the neighbouring country, think tank GTRI said on Friday.
Indian equities on Dalal Street saw volatility. Track Sensex, Nifty50 movement and key market drivers for Feb 25, 2026.
