Indian drugmakers supply 47 per cent of the generic medicine requirements in the US, and tariffs would have increased prices in the US domestic market for patients, who are already dealing with drug shortages.
India and Canada are negotiating a long-term uranium supply agreement worth $2.8 billion. They are also exploring expanded civil nuclear cooperation after the passage of the SHANTI Bill.
Amid the tumbling stock market in the United States, following the White House clarification of tariffs on China to be at least 145 per cent and an earlier announcement of a 90-day pause on tariffs for over 75 countries, President Donald Trump addressed the challenges associated with his tariff policy, stating that there would be 'transition problems'.
This Budget positions India's taxation ideology as not merely a revenue source but as a strategic catalyst for growth, inclusion and long-term confidence.
Essential and strategic items such as pharmaceuticals, semiconductors, copper, and energy products like oil, gas, coal and LNG are exempted from the 27 per cent import duty announced by the US on Wednesday, according to think tank GTRI.
From the Sensex firms, Hindustan Unilever, Kotak Mahindra Bank, Trent, Reliance Industries, Asian Paints and ITC were among the gainers. However, Bharat Electronics Ltd, Tech Mahindra, UltraTech Cement, Maruti and Eternal were among the laggards.
Equity benchmark indices Sensex and Nifty ended lower on Thursday after US President Donald Trump announced the imposition of a 25 per cent tariff on all goods coming from India starting August 1 and an unspecified penalty for buying Russian crude oil and military equipment.
"I am telling you, these countries are calling us up, kissing my a***," Trump said during a speech at the National Republican Congressional Committee dinner on Tuesday.
Both India and the EU are likely to announce a conclusion of trade talks on January 27.
'A breakout above 158,000 to 160,000 could trigger the next leg higher toward 165,000 to 170,000.'
The automobile and auto-ancillary sector is expected to show strong Q3FY26 results, aided by festival-led demand, rationalisation in goods and services tax (GST) rates for select categories of vehicles, easing interest rates, and improving rural sentiment.
India is well-positioned to deal with the negative effects of US tariffs and global trade disruptions as domestic growth drivers and low dependence on exports anchor the economy, Moody's Ratings said on Wednesday.
Sustaining 8 per cent-plus growth rates is necessary if we are to reach high-income status by 2047, points out Amitabh Kant.
Goods from sectors, including agriculture, precious stones, chemicals, pharma, medical devices, electricals, and machinery may get impacted if the US will go ahead with imposing reciprocal tariffs on Indian products, according to experts. They said that these sectors could face additional customs duties from the Trump administration because of the high tariff differential or gap, which is the difference between the import duties imposed by the US and India on a product.
'For those in for the long haul, this is a God-given opportunity.' 'Your market is falling despite strong fundamentals, and such a clear roadmap has been announced.'
Deferment or rescheduling of the meeting assumes significance as the US has announced a staggering 50 per cent duty on Indian goods.
India's proposal to impose retaliatory import duty on certain US products in response to American tariffs on steel and aluminium could cast a shadow over ongoing negotiations for a trade agreement between the two countries, think tank GTRI said on Tuesday. The Global Trade Research Initiative (GTRI) said that if the US engages in consultations with India on the matter or withdraws tariffs, a resolution may be reached.
Among major engagements in 2026 is the visit of the European Union leadership, chief guests at the Republic Day parade.
Showcasing India as an attractive investment destination, Modi said the country has political and economic stability as well as transparency and predictability in policy decisions.
China on Friday raised its additional tariffs on imports from the United States to 125 per cent in retaliation to the Trump administration's 145 per cent levies on Chinese exports.
India's exports to the US contracted 8.6 per cent to $6.3 billion in October, while imports rose 13.9 per cent to $4.5 billion leading to a trade surplus of $1.8 billion during the month.
US President Donald Trump has proposed a deal to China that would see the sale of TikTok's US operations to an American buyer in exchange for a reduction in tariffs on Chinese exports to the US. The proposal comes amid a trade war between the two countries and follows China's retaliation of Trump's tariffs on Chinese goods. Trump has also said that tariffs are a powerful economic tool and that he is determined to ensure fair trade between the US and China.
'We have to be prepared for the larger disruption that is likely to take place.'
India on Thursday said the issue of trade did not come up at all in talks between Indian and American leaders during its military clashes with Pakistan, virtually rejecting Washington's repeated claims that its offer of trade stopped the confrontation.
Reserve Bank of India (RBI) Governor Sanjay Malhotra, and Deputy Governors Poonam Gupta, T Rabi Sankar, Swaminathan J, and S C Murmu on Friday addressed issues during the post-policy media interaction.
Trump claimed that he "got a call from Prime Minister Modi saying, 'we're done'. I said, 'you're done with what?'" Trump said and claimed Modi replied: "We're not going to go to war."
Putin's State visit will centre on fixing the huge India-Russia trade imbalance, with both sides pushing to lower duties, ease non-tariff barriers, and seal a landmark mobility pact to send more Indian workers to Russia.
United States President Donald Trump on Sunday warned of new and significantly higher tariffs on Chinese goods if Beijing does not withdraw a recent 34 per cent retaliatory tariff hike, threatening to end all ongoing talks with China.
'As negotiations continue, the path forward demands not only diplomatic skill, but also vigilance against legal asymmetries embedded in America's trade playbook.'
'Reciprocal tariffs are not going to affect India except specific sectors and there are opportunities to capture.'
This is the first Budget in my memory of Budgets over the last half a century which has embraced upfront, enthusiastically and emphatically, technology, modernity and fiscal sobriety, notes Shreekant Sambrani.
After four failed reform drives, a new plan aims to rescue India's debt-laden power discoms through privatisation, accountability and long-term financial fixes.
Trump has made it clear to Prime Minister Modi that India will not be spared from Washington's reciprocal tariffs and emphasised that "nobody can argue with me" on tariff structure.
The Trump trade shock is a chance to push long-overdue reforms, rather than tinker with tariffs to appease the US, suggests M Govinda Rao.
India was being evaluated for a potential weight of around 1 per cent in the index, an allocation that could have translated into $25 billion of inflows, spread over roughly 10 months.
This is the second-worst performance by the pack during this period over the last five years since CY20.
US President Donald Trump has said that tariff negotiations with India are "coming along great," and he thinks the two countries will strike a trade deal.
India has managed high government debt-to-GDP, a slowing domestic revenue engine, lower household savings and a more hostile geopolitical environment separately in the past. But together, they threaten to undo the growth narrative on which today's optimism rests, warns Debashis Basu.
The power sector presents a puzzle. A fast-growing economy should be aligned to higher power demand but that hasn't been the case in the financial year 2026 till date (FY26TD).
The commerce ministry is working on different scenarios to assess the possible fallout of reciprocal tariffs to be imposed by the US administration on April 2 on its key trading partners including India, sources said. US President Donald Trump has said that April 2 will be 'Liberation Day' as he plans to announce tariffs or import duties to bring down America's trade deficit, and promote the country's manufacturing.
