Pakistan Prime Minister Shehbaz Sharif announced that a US-Iran peace deal is on the verge of finalisation, potentially within the next 24 hours, marking a significant diplomatic breakthrough after months of intense negotiations.
The Indian rupee plummeted to a new all-time closing low of 95.81 against the US dollar, driven by surging crude oil prices, persistent inflation concerns, and a strengthening dollar index.
India's exports recorded a 13.78 per cent increase to USD 43.56 billion in April, marking the highest monthly outbound shipments in over four years, primarily driven by petroleum products. However, the trade deficit widened to a three-month high of USD 28.38 billion due to a 10 per cent rise in imports.
India has expressed strong concern over the targeting of commercial shipping in the Strait of Hormuz during the West Asia conflict, urging for the restoration of unimpeded navigation and global commerce.
American industry groups sought punitive tariffs on Indian goods at USTR hearings, while Indian officials defended the country's manufacturing growth as demand-led and WTO-compliant.
Indian officials will visit the US to finalise the legal text for an interim trade agreement, expected to be signed in March, focusing on duty concessions and reciprocal tariffs.
India's merchandise exports experienced a slight decrease in February, while imports surged due to increased gold and silver purchases, leading to a widened trade deficit. The West Asia crisis is expected to further impact trade in the coming months.
Finance Minister Nirmala Sitharaman stated that it is premature to comment on the tariff changes announced by the United States, adding that the commerce ministry is currently reviewing the situation.
'OMCs are incurring losses of Rs 1,000 crore per day due to the West Asia crisis.'
The Quad grouping has expanded cooperation in critical minerals and energy, while unveiling new measures to boost maritime surveillance and port infrastructure across the Indo-Pacific. This move comes against the backdrop of China's growing military posturing in the region, with ministers reiterating strong opposition to destabilising actions and expressing serious concerns over militarisation of disputed features.
'Every day the meter is ticking. Like a time bomb.' Shipping giants are billing Indian exporters up to $3,000 per container in war surcharges -- on cargo that sailed before the war began -- as the Strait of Hormuz shuts down.
'General Subramani's appointment as military adviser in the NSCS has given him insight into decision-making at the apex level prior to formally taking over as CDS.'
The European Union's (EU's) offer to slash tariffs on 97.5 per cent of Indian chemical exports to zero is set to give India's pharmaceutical and medical device firms preferential access to the European markets.
India has voiced its deep concern over reports of increasing civilian casualties in Lebanon due to Israeli strikes, emphasising the protection of civilians and the importance of international law.
New Zealand has liberalised mobility provisions under the concluded trade pact, enabling Indian students to access longer post-study work visas and allowing 5,000 Indian professionals, including yoga instructors and chefs, to work in the Oceania country.
In a major setback to Trump's pivotal economic agenda for his second term, the US Supreme Court, in a 6-3 verdict written by Chief Justice John Roberts, ruled that the tariffs imposed by the president on nations around the world were illegal.
The Indian government has introduced the Jan Vishwas (Amendment of Provisions) Bill, 2026, in the Lok Sabha to decriminalise and rationalise minor offences, aiming to promote ease of doing business and living.
The government has introduced a bill in the Lok Sabha to amend provisions for decriminalising minor offences, aiming to promote ease of doing business and living.
Chief negotiators from India and the US are set to begin three-day talks in Washington to recalibrate the bilateral trade agreement (BTA) framework, following significant changes in the US tariff landscape, including a new 10 per cent tariff imposed on all countries.
Iranian forces fired upon three commercial vessels in the Strait of Hormuz, with one possibly headed for Gujarat, raising concerns about maritime security in the strategic waterway.
In view of the disruptive situations, the Central government has also announced a financial relief package of Rs 497 crores aimed at helping exporters affected by disruptions in West Asia.
India will lower duty on European apples to 20 per cent under the trade pact, but the imports would be capped at 50,000 tonnes per year and subject to a minimum import price of Rs 80 per kg, thereby fully protecting domestic farmers, an official said on Wednesday.
China has emerged as India's largest trading partner in 2025-26, with bilateral trade reaching USD 151.1 billion, while India's trade deficit with Beijing widened to an all-time high of USD 112.6 billion.
National Security Advisor Ajit Doval hosted Bangladesh Foreign Minister Khalilur Rahman for a dinner meeting, signalling efforts to repair bilateral ties after a period of heightened diplomatic tension.
India and the US have reported positive progress in recent trade talks in Washington, agreeing to maintain engagement to finalise a bilateral trade agreement, which now requires recalibration following new US tariffs.
India and the US have decided to reschedule their meeting to finalize the interim trade pact due to recent developments and implications, including changes in US tariffs.
India has initiated a probe into imports of subsidised paperboard from China and Indonesia following complaints from domestic manufacturers. The investigation will assess the impact of these imports on the Indian paper industry and determine if anti-subsidy duties are warranted.
India has initiated a probe into imports of subsidised paperboard from China and Indonesia following complaints from domestic manufacturers. The investigation will assess the impact of these imports on the Indian paper industry and determine if anti-subsidy duties are warranted.
Another priority in the first 100 days could be the launch of an e-platform -- Trade Connect -- to help exporters connect with stakeholders of international trade.
India has condemned the escalating attacks on commercial shipping in West Asia, particularly after a Thai-flagged vessel en route to India's Kandla Port was targeted in the Strait of Hormuz. The attacks have disrupted global oil and gas supplies, impacting India's energy imports.
New Zealand has taken a binding commitment under its Free Trade Agreement (FTA) with India to amend its laws within 18 months of the pact's implementation to facilitate the geographical indication (GI) registration of Indian goods besides wines, and spirits in the island nation. The current GI law of New Zealand only allows India's wines and spirits to be registered.
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.
Tea planters in Darjeeling have raised that a shortage of commercial LPG, triggered by the ongoing conflict in West Asia, could hit tea processing during the first flush, the delicate early-season harvest that commands the highest premiums and often sets the tone for the year.
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.
Prime Minister Narendra Modi convened the Cabinet Committee on Security to address the impact of the West Asia conflict on Indian citizens, focusing on safeguarding them from the conflict's effects and ensuring the smooth flow of essential supplies.
The Indian team has returned from the US after holding trade talks with their American counterparts in New York, an official said on Thursday. Commerce and Industry Minister Piyush Goyal, who led the team, will be back on Friday.
External Affairs Minister S Jaishankar addressed the Rajya Sabha on India's position regarding the escalating conflict in West Asia, emphasising the need for peace, dialogue, and the safety of civilians, while also prioritising India's energy security and trade interests.
India's merchandise exports to the US contracted 21.77 per cent to $6.6 billion in January due to high tariffs imposed by America, according to the Commerce Ministry data. Exports contracted in September, October and December last year also. However, it rose 22.61 per cent in November.
The country's exports rose marginally by 0.61 per cent to $36.56 billion in January, while trade deficit widened to a three-month high of $34.68 billion, government data showed on Monday.
Prime Minister Narendra Modi will visit Israel to enhance defence and trade cooperation amid Middle East tensions. Discussions will include defence, security, and the situation in Gaza.
