India's current account deficit (CAD) is expected to rise to 1.7 per cent of GDP in the current financial year FY26, higher than the bank's earlier projection of 1.2 per cent, according to a report by Union Bank of India.
India remains engaged with the United States on the proposed Bilateral Trade Agreement (BTA), and the first tranche of the deal, focused on addressing reciprocal tariffs, is now "near closure", Commerce Secretary Rajesh Agrawal said on Monday while releasing the October trade data.
Speaking to reporters on Thursday, the official confirmed that Washington is pursuing a reciprocal trade agreement with New Delhi whilst simultaneously addressing concerns over India's purchases of Russian oil.
The rupee traded within a narrow range of Rs 87.83-Rs 88.70 per dollar over the past month, with volatility easing sharply from over 4 per cent in October to about 1.2 per cent in November.
Post tariffs, trade deficit of United States declined by USD 42 billion but during the same period it has gone up by USD 9 billion with top five trading partners including India, noted a research report by the State Bank of India (SBI).
Indian stock markets opened on a flat note on Friday as investors remained in a wait-and-watch mode amid anticipation of an official announcement on a possible US-India trade deal.
The United States appears to be warming up to the idea of a comprehensive trade deal with India as Washington seeks to diversify critical supply chains away from China. With Beijing tightening its grip over rare-earth exports and the US-China trade war intensifying, policymakers in Washingto
"If Trump's ire is on the trade surpluses, it should actually be directed at China, not at India. India is a sideshow for all these, and it probably got activated due to personal egoistic reasons, on the Nobel Prize or the ceasefire. So we were in a very strange situation", the professor
Indian stock market opened lower on Thursday, declining for a fifth straight trading session as continued foreign fund outflows and US visa curbs kept market participants on edge.