The downside in the Indian rupee, which has been steadily depreciating over the past months, is unlikely to abate soon as it hit yet another record low on Monday.
India is expected to gain a small edge as the US administration has exempted agricultural products from the reciprocal tariffs it had imposed on several countries, said trade think tank GTRI.
The talks for a trade deal between India and the United States are progressing well, and the Bilateral Trade Agreement (BTA) with the United States would be "most detailed and WTO-compliant", government officials said on Tuesday.
The selling spree continued in Indian stock markets on Friday, as both key indices extended their weekly losses, slipping nearly 1 per cent amid weak investor sentiment and a lack of clarity on the much-anticipated India-US trade deal.
"The latest data make one point clear: tariffs have not only squeezed India's trade margins but also exposed structural vulnerabilities across key export industries," GTRI said.
After three consecutive months of persistent selling, foreign portfolio investors (FPIs) again turned net buyers in the Indian stock markets in October.
Indian stock market opened in the positive territory on Tuesday, though investors remained cautious as the India-US trade deal continues to progress with talks moving ahead.
Indian stock benchmarks witnessed yet another day of gains, supported by a host of factors that include the recent GST reforms, intensification of efforts for the India-US trade deal, and moderate inflation, among others.
A team of United States officials led by Assistant US Trade Representative for South and Central Asia, Brendan Lynch, had "positive and forward-looking" discussions on Tuesday with the officials from India's Department of Commerce and it was decided to intensify efforts to achieve early c
Any progress on the India-US trade deal front largely hinges on Washington rolling back the Russian oil-linked additional 25 per cent duty on India, and no breakthrough is likely without it, India-based trade-focused think tank Global Trade Research Initiative (GTRI) has argued as both count