The Rs 250,000-crore (Rs 2.5 trillion) domestic jewellery sector is likely to be hit hard by frequent rises in gold import duty and the sustained depreciation of the rupee against the dollar.
But when it comes to e2W, China is the dominant player and had grabbed over 76 per cent share of total e2W imports in 2025 with brands like Yadea, NIU and Sunra dominating the market.
The government pushed import duty on gold jewellery up by half to 15 per cent, the finance ministry said on Tuesday, setting it higher than raw gold duty in a move aimed more at protecting the domestic jewellery industry than stemming bullion imports.
The Indian rupee plummeted to an all-time low of 95.80 against the US dollar, settling at 95.66, driven by elevated crude oil prices and escalating geopolitical tensions in West Asia, despite potential RBI intervention and import curbs on gold.
'PM Modi is trying to reduce the volume of fuel consumed instead of raising prices sharply.'
US President Donald Trump announced a new global levy on imported items, resulting in a lower tariff rate for India, following a Supreme Court verdict against his previous sweeping tariffs.
India has no plans to ration fuel supplies despite ongoing disruptions in global energy markets, according to a top oil ministry official. The country has maintained adequate inventories of crude products and LPG while diversifying imports to manage supply risks.
Sustained growth only if domestic manufacturing rises
The tariff removal will lower prices of Harley's large-displacement imported motorcycles, which retail between 14.5 lakh and 45.8 lakh but after the duty cut volumes are expected to remain modest.
Chinese phone maker Xiaomi's India unit has been slapped with a Rs 653 crore notice for alleged evasion of import duty, as per an official statement. A show-cause notice has been slapped on Xiaomi India following recovery of documents during searches on its premises that indicated remittance of royalty and licence fee to US and Chinese firms under contractual obligations, the union finance ministry said on Wednesday. Replying to an email query, a Xiaomi spokesperson said, "At Xiaomi India, we give utmost importance to ensuring we comply with all Indian laws.
'You set up your SIPs and you do not touch them. Not during COVID, not during a war scare, not when your neighbour tells you the market is finished. You let the noise pass over you.' 'The beauty of this approach is that it does not require courage or conviction in the moment. It just requires inertia -- keep the SIP running and do not look at your portfolio too often.'
In a letter written recently to the Finance Minister, Pawar had said that arrears of sugar mills have risen to over Rs 10,000 crore (Rs 100 billion) and there was a need to hike import duty to curb shipments, which is putting downward pressure on local prices.
Prime Minister Narendra Modi has appealed to citizens to adopt austerity measures, including avoiding destination weddings abroad and reducing edible oil consumption, to mitigate the impact of the West Asia crisis on India's economy.
Industry representatives say the government may be tempted to raise the duty on gold and silver by Rs 100 per 10 gram and Rs 500 per kg, respectively, to earn extra revenue at a time the economy is facing several challenges.
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.
A resident of Bengaluru has been booked for allegedly obstructing and verbally abusing female officials engaged in the National Census-2027 work. The incident occurred in Ward No 43, R T Nagar area, between April 20 and April 25. The accused refused to provide census information and verbally abused the officials. A case has been registered under relevant sections of the Bharatiya Nyaya Sanhita, and investigations are ongoing.
However, worries on inadequate import and issues for the FTA pacts.
rediffGURU Anu Krishna, mind coach and co-founder of Unfear Changemakers, tells you how you can fix emotional distance in a relationship.
The Madurai Spinners Association has sought removal of import duty on cotton and cotton waste, to prevent mills going into the red.
ITC reported a 6.1 per cent year-on-year growth in its consolidated adjusted net profit from continuing operations, reaching ~5,469.74 crore in the January-March quarter (Q4FY26), primarily fuelled by strong performances in its cigarettes and non-cigarette fast-moving consumer goods (FMCG) businesses.
The union government is expected to cut two per cent import duty in gold in the forthcoming budget, as local jewellers run out of inventory, a leading US brokerage said.
Sources had said in a meeting last month, the empowered group of ministers on food, headed by finance Minister Pranab Mukherjee, had recommended that the import duty on rice be scrapped.
The Confederation of Indian Industry (CII) has urged the Indian government to gradually restore the Rs 10-per-litre cut in special additional excise duty on petrol and diesel over six to nine months. This move aims to relieve pressure on government finances as crude oil prices stabilise, without significantly impacting consumer sentiment.
The agreement addresses non-tariff barriers and promotes increased trade in technology products and cooperation between the two countries.
India will also launch a sovereign gold bond to lower physical demand.
Bihar's greatest resource is not beneath its soil but above it -- its people. With a population approaching 140 million and one of India's youngest demographic profiles, Bihar possesses an asset many societies would envy, explains Bihar Governor Lieutenant General Syed Ata Hasnain (retd).
India's sugar consumption is projected to fall by nearly 400,000 tonnes in the 2025-26 season, primarily due to the ongoing liquefied petroleum gas (LPG) shortage exacerbated by the West Asia conflict and unseasonably cool weather.
Commerce and Industry Minister Piyush Goyal announced that a US team is expected to visit India next month for trade talks, following an earlier Indian delegation's visit to Washington, DC, in April to finalise an interim pact and advance negotiations for a broader bilateral trade agreement.
SUVs occupy greater road and parking space and ought to bear a higher tax, says FM
A govt report on Wednesday recommended reining in gold imports to curb deficit.
Apple CEO Tim Cook's strategic pivot, from initial rejections to local partnerships and leveraging government policies like PLI, transformed India into a major iPhone manufacturing and export hub, now accounting for one in every four iPhones assembled globally.
In August 2013, import duties on gold, silver and platinum were hiked to 10 per cent in order to curb the surging imports and also to check CAD.
Kolkata Knight Riders confirm Rachin Ravindra's departure to prepare for New Zealand's Test tour of England, impacting KKR's squad balance in a crucial phase of the IPL season.
India has completely protected the interests of its agriculture and dairy sector in the India-US trade agreement.
Virat Kohli credits the influence of young players for his T20 reinvention and fastest IPL fifty, leading Royal Challengers Bengaluru to their second successive trophy. He highlights the team's depth and shared responsibility in securing the IPL title.
Inflation data, trading activity of foreign investors and global trends would dictate sentiment in the stock market this week, according to analysts.
Speculation about rising competition from global majors has led to shares of major Indian automobile manufacturers such as Mahindra & Mahindra (M&M), Maruti Suzuki India, and Tata Motors taking a hit on the BSE.
Mexico on Thursday imposed a tariff of up to 50 per cent on imports from its non-preferential trade partners, including India, a move that might hit New Delhi's annual $5.75 billion shipments to its third-largest car export market.
As many as 17 cancer drugs, along with medicines and food for special medical needs for seven rare diseases, components for microwave ovens are some of the items that are set to become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in customs duty in the Union Budget 2026-27.
The Indian government should urgently consider imposing safeguard or anti-dumping duties on imports of two construction equipment segments - crawler excavators and tower cranes - as Chinese companies are rapidly expanding their presence in these markets in India through 'predatory' pricing supported by lower raw material costs, substantial export subsidies, and extended credit schemes, said Sorab Agarwal, executive director at Action Construction Equipment (ACE).
