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 has refuted claims made by NATO Secretary-General Mark Rutte that Prime Minister Narendra Modi contacted Russian President Vladimir Putin to discuss Russia's strategy on Ukraine in light of US tariffs on India.
The World Bank on Tuesday raised India's growth forecast for the current fiscal to 6.5 per cent from 6.3 per cent estimated earlier, and said the country is expected to remain fastest-growing major economy, underpinned by continued strength in consumption growth.
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.
'The outlook for the next Samvat is more constructive, as many of the earlier drags are gradually becoming supports.'
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.
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.
Trump also praised Chinese President as "a great leader of a great country" and said the two sides had "already agreed to a lot of things."
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.
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.
'This is not a case of tax evasion but the result of long-standing ambiguities in GST rules and unawareness.'
India's mergers and acquisitions (M&A) activity cooled in the second quarter of 2025-26 (Q2FY26), with deal value falling to $26.26 billion from $29.04 billion a year ago, according to Bloomberg data.
'We currently have new proposals worth Rs 1.48 trillion in the pipeline.'
After US President Donald Trump announced a 90-day tariff pause for several nations, including India, global manufacturers are in a rush to ensure that bulk of their goods reach the US during this window. "The 90-day suspension of tariffs will be welcomed by shippers, but it should not be a cause for celebration.
The Indian steel industry is faced with a paradox: Rising demand and falling prices. Demand continues to surge as user industries gather pace, with the World Steel Association projecting around 9 per cent annual growth for India over 2025 and 2026, the year domestic demand is projected to be almost 75 million tonnes (mt) higher than in 2020.
Stock market investors this week would track the renewed tariff tensions between the US and China, domestic inflation data, besides, quarterly earnings from blue-chips HCL Tech, Infosys and Reliance Industries would also drive the momentum in equities, analysts said.
'Reciprocal tariffs are not going to affect India except specific sectors and there are opportunities to capture.'
'As negotiations continue, the path forward demands not only diplomatic skill, but also vigilance against legal asymmetries embedded in America's trade playbook.'
'Even if tariffs are reduced, non-tariff may still remain a challenge.'
Most pharma shares dropped, dragging the BSE Healthcare index down by 2.14 per cent after Trump's move to impose 100 per cent import tariffs on pharmaceutical drugs from October 1. Wockhardt shares tanked 9.4 per cent.
Consumer durable companies in India have begun early-stage talks with US importers at a time when the tariffs levied on Indian products are lower than those on competitors such as China. While the discussions started some time ago, many believe that the Donald Trump administration's tariff measures will help Indian companies expand their presence in the US market.
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.
The White House has said India imposes a 100% tariff on American agricultural products and the high levies charged by other countries make it "virtually impossible" for US products to be exported to those nations. President Donald Trump has repeatedly criticised the high tariffs charged by India and other countries on American goods. He plans to roll out a set of reciprocal tariffs on April 2, which he says will be "Liberation Day" for the US.
US President Donald Trump announced a 26 per cent "discounted reciprocal tariff" on India, half of the 52 per cent levies imposed by India on American goods, as he described India as "very, very tough."
"Their Prime Minister just visited -- he's a great friend -- but I told him, 'You're not treating us right. You charge us 52%, while for years, decades even, we've c'harged you next to nothing. It wasn't until seven years ago, when I took office, that we started pushing back, beginning with China.'"
US President Donald Trump accused China and India of being the "primary funders" of the Ukraine war by continuing to purchase Russian oil during his address to the UN General Assembly. He also criticized NATO countries for not cutting off Russian energy.
In a significant change to regulations, oil and gas regulator PNGRB has proposed a new policy of how tariffs for pipelines carrying gas to users will be determined, and proposed charging city gas entities selling CNG and piped cooking gas to households at the lowest rates.
India is already negotiating a bilateral trade agreement with the US. The two countries are aiming to finalise the first phase of the pact by fall (September-October) of this year.
India has implemented a number of free trade agreements with developed nations and is in active dialogue for such pacts with nations including the US, Oman, and the EU, Commerce and Industry Minister Piyush Goyal said. India has implemented trade pacts with Australia, the UAE and EFTA bloc. It has also signed an agreement with the UK.
Chinese Foreign Minister Wang Yi said that it is imperative for the two sides to view each other as partners and opportunities rather than rivals or threats, and invest their valuable resources in development and revitalisation.
'The steel industry has a multiplier effect on direct and indirect employment, national security on the supply chain, technology access etc.'
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 sweeping tariffs proposed across sectors by US President Donald Trump are scheduled to be imposed starting April 2, with most analysts worried about their impact on companies, and in turn the financial markets. Recently, the US administration signaled that it will impose sectoral tariffs on energy, pharmaceuticals, semiconductors, agriculture, copper, and lumber.
Union Minister Nitin Gadkari states that countries engaging in bullying do so because of their economic strength and technological advancement. He emphasized the need for India to increase exports and reduce imports to achieve global leadership.
Lutnick said that these countries have to understand that if "you want to sell to the US consumers, you've got to play ball with the President of the United States."
The strong domestic flow offset selling by foreign portfolio investors who pulled out $23.3 billion (Rs 2.03 trillion) from domestic equity markets in CY25.
Saudi Arabia's steep cut in LPG benchmark prices has pushed India's household LPG underrecoveries to their lowest level in over two years, slashing oil companies' losses from Rs 200-250 per cylinder last year to about Rs 20-40 now.
Foreign portfolio investors (FPIs) remained net sellers of Indian equities in September, withdrawing Rs 23,885 crore (around $2.7 billion) and taking year-to-date outflow to Rs 1.58 lakh crore ($17.6 billion).
Private sector banks slipped in market capitalisation (mcap) during the July-September quarter, underperforming their government-owned peers as trade uncertainties dragged market sentiment, said S&P Global Market Intelligence. According to its analysis, HDFC Bank shed 4.8 per cent in mcap during the third quarter, while ICICI Bank's dropped 6.7 per cent.
The White House has claimed that India has begun 'scaling back' its oil purchases from Russia at the 'request' of President Donald Trump.
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