In 2025-26, the government allocated Rs 6,81,210 crore for defence budget.
The European Union (EU) has suspended export benefits to sectors such as textiles and plastics under a preferential scheme for India and two other countries from January 1, a move that will impact the country's shipment to the 27-nation bloc. The development is important as the two sides are likely to announce the closure of negotiations for a free tarde agreement (FTA) on January 27.
Customs regimes can lead to labyrinthine legal disputes. Budget 2026 must recognise that an excessively defensive Customs posture can itself become a trade barrier, point out Mukesh Butani and Shankey Agrawal.
The argument about inverted import duty structures is just a red herring.
India's marine product exports facing rough weather from punitive US tariffs are expected to get a big boost following the reduction of 26 per cent tariff as part of the India-EU Free Trade Agreement (FTA), but concerns over non-tariff barriers, which are a dominant aspect of marine trade to the EU, still remain.
India has gained the least since Russia invaded Ukraine in February 2022 and was penalised the most, while the US, China and the European Union emerged as the biggest beneficiaries from the war.
The India-EU free trade deal could help Indian-made cars enter Europe at lower costs and challenge Chinese dominance.
'Everyone has the right to have an opinion about the culture of that dressing room. And every opinion for me will matter'
Suryakumar Yadav-led India have sought permission for families to travel during the ICC Men's T20 World Cup 2026, but sources say the BCCI has declined the request.
Amid the political push and pull, the Centre's decision to allow sugar exports and remove the 50 per cent duty on molasses exports has rekindled hope in the industry that more relief may follow.
It would be pertinent to rationalize the duty on polymers to generate more investment in the sector.
India's gems & jewellery exports witnessed 30.6 per cent year-on-year (Y-o-Y) contraction in October to $2.17 million, amid the imposition of a steep 50 per cent tariff by the United States (US) on several Indian products.
The apex court ordered that the Centre and state authorities comply with its directions immediately, and warned of 'serious action' if directions are defied in any form.
New Delhi will substantially reduce tariffs on industrial and agricultural goods while continuing to protect sensitive sectors. Tariffs on some agricultural products that are not traditionally considered sensitive will be brought down to zero, while in the case of relatively sensitive items, duties will be reduced in a graded manner and quotas will be imposed.
Businesses are testing new markets, tapping into domestic demand, and pushing the government for relief.
Budget 2026 sticks to fiscal discipline, shuns populist measures despite five key state elections coming up, but ends up rattling stock markets with a higher transaction tax on derivatives trading.
The imposition of safeguard duty, an uptick in exports, and an increase in input cost are driving steel prices higher. The latest round of price increase took place on Friday, with some steel mills increasing hot-rolled coil (HRC) prices by ~500-750 a tonne, according to price reporting and market intelligence firm BigMint. HRC is a benchmark for flat steel.
Admiral Samuel J Paparo, Commander of the US Indo-Pacific Command, lauded India's military restraint during Operation Sindoor and emphasized the growing India-US defence partnership aimed at maintaining peace and security in the Indo-Pacific region.
'Based on the joint statement, a formal agreement will be drafted, which may take a month or month-and-a-half to finalise. We aim to sign the formal agreement by mid-March.'
With the worst in terms of pricing pressures behind Tata Steel, its outlook is expected to improve. Europe has seen hot rolled coil prices rise this January after the European Union's (EU's) carbon border adjustment mechanism (CBAM) kicked in and further price improvements may be on the cards once import quotas come into play in June.
For Mumbai-based Priya, arranged marriage was not a personal choice. The obligation slowly led to unprotected sex, followed by a baby and years of suppressed emotions leaving her feeling trapped in her marriage.
Kudos to the makers for attempting to create a meaningful series, Bandwaale, that blends the beauty of music to inspire you to look within, and find your voice, raves Divya Nair.
'We believe the truth is in the middle, and that India is at an important crossroads.'
Total pending Customs arrears, including amounts under litigation, court stays and cases where the appeal period has not expired, stood at about Rs 1.36 trillion at the end of December 2024.
The rupee plunged 26 paise to an all-time low of 90.75 against the US dollar in intra-day trade on Monday, weighed down by uncertainty over an India-US trade deal and persistent foreign fund outflows.
'Trump says India will buy over $500 billion of US goods.' 'At present, India's annual imports of goods and energy from the US are under $50 billion.' 'Reaching $500 billion would likely require more than 20 years, suggesting the figure refers to a long-term aspiration rather than a near-term commitment.'
Drugs under exemption make up roughly 95 per cent of the antiretrovirals used by India's AIDS patients
'No one can or will bar India from pursuing its energy goals as it wishes.' 'The US FTA wording may sound more restrictive, but the underlying reality will not undermine India's sovereign energy decisions.'
The government has set up an inter-ministerial group to monitor a possible surge in imports from countries like China, Vietnam and Thailand, fearing a surge in inbound shipments following the imposition of high reciprocal tariffs by the US on these countries, sources said. The product categories that may see an upsurge in diversion of imports from the US to India include consumer goods, electronics, chemicals and steel.
'Even if it is defeated and the Speaker remains, the Opposition parties that have lost faith in his impartiality will continue to have that feeling.' 'If the Speaker reflects on this and tries to be more neutral, more impartial, more objective in his conduct -- then one can say the resolution had a salutary effect. That would be the best outcome.'
US Treasury Secretary Scott Bessent's remarks come ahead of a high-level summit where India and the European Union are expected to formally announce the conclusion of negotiations on a comprehensive free trade agreement.
Restoring weighted tax deductions and adopting a petty patents regime can foster firm-level innovative activity critical for competitiveness, points out Nagesh Kumar.
The Reserve Bank of India (RBI) on Friday delivered a 25 basis point (bps) repo rate cut analysts expected, driven by the strong 8.2 per cent GDP growth in the September quarter. However, analysts do not expect a runaway market rally as the impact of US tariffs continues.
The EU also feels that Tamil Nadu has adopted a restrictive practice for imported liquor. Significantly, a similar complaint by the trade bloc at the WTO led to the elimination of additional Customs duty on imported liquor in 2007.
The Budget reflects a clear focus on strengthening India's long-term prospects by leaning on nation-building sectors such as infrastructure, manufacturing, and technology while maintaining fiscal responsibility.
RSS chief Mohan Bhagwat stated he will continue in his role despite his age, stepping down only when the organization directs him to do so. He also discussed the importance of values and communication within the RSS.
'If you go by the capital expenditure, this is a good defence budget. But we will have to see if the government can keep defence spending at 2 per cent or higher in 2027-2028.'
The Indian squad features a blend of experienced players and young talent across departments as the team looks to make a strong start to its Pro League campaign on home soil.
The earthmoving and construction equipment industry also seeks restrictions on the imports of used equipments into country and to rectify inverted duty structure.
'Maybe he was wrong, but they believed he genuinely meant what he said.'
