WORLD TRADE CENTRE
As global markets wobble, Sridhar Vembu explains why India’s love for gold might be the country’s biggest strength
Gold prices in India have crossed ?1 lakh per 10 grams, driven by global uncertainty and investor demand. As markets react, Indian business leaders Sridhar Vembu and Uday Kotak voiced strong support for the country’s cultural and economic trust in gold. Their remarks sparked debate online, with many agreeing that gold represents long-term security. However, concerns about affordability have also surfaced. The rising prices highlight India’s deep ties to the yellow metal, especially during times of global financial stress.
Italy expands wings in Central Asia aiming to emerge as key global player
Italy is increasing its presence in Central Asia, particularly Kazakhstan, aiming to become a European power center. Prime Minister Meloni will visit Kazakhstan, followed by the first Central Asia-Italy summit to strengthen strategic partnerships. Trade between the two nations is robust, with many Italian companies operating in Kazakhstan's resource-rich market.
Hope to seal first phase of US trade deal by fall: FM Nirmala Sitharaman
India aims to finalize the first phase of a trade agreement with the U.S. by autumn, Finance Minister Nirmala Sitharaman said during her U.S. visit. Amid ongoing trade talks, she will attend IMF, World Bank, and G20 meetings. The effort coincides with a 90-day U.S. tariff pause and growing diplomatic engagement, including U.S. Vice President JD Vance’s visit to India.
Next in Gensol crisis; No-go for China in India’s electronics
Lenders to Gensol are getting jittery as the company’s troubles compound. This and more in today’s ETtech Top 5.
India actively engaging with US; hopes to sign first phase of bilateral pact by Oct: FM
India is actively pursuing a bilateral trade agreement with the US, aiming to finalize the first phase by fall. Finance Minister Sitharaman emphasized the government's commitment during her US visit, highlighting discussions with the US administration and the Prime Minister's engagement. India is also focusing on becoming a developed nation by 2047, prioritizing key sectors and inclusive growth.
Which New Zealand companies are facing the heat after US tariff war
US tariffs are shaking global and NZ share markets, impacting investor confidence. Tourism Holdings saw the biggest drop (20%), while Mainfreight and Fisher & Paykel Healthcare face potential but nuanced effects. Infratil's recovery shows varied impact
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Primary focus of Modi govt to transform India into Viksit Bharat by 2047: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman emphasized the Modi government's commitment to transforming India into a developed nation by 2047, prioritizing sunrise sectors and fiscal prudence. She highlighted India's success in managing fiscal deficits and the Prime Minister's focus on women, the poor, youth, and farmers.
JD Vance and Usha Vance's India visit: Meeting with PM Modi, visiting Taj Mahal; here's what the US Vice President, second lady are scheduled to do
US Vice President JD Vance, accompanied by his family, will visit India from April 21-24 amid rising trade tensions. Discussions with Prime Minister Modi will focus on strengthening bilateral ties and trade agreements. Vance's itinerary includes visits to New Delhi, Jaipur, and Agra, encompassing key landmarks like the Taj Mahal and Amer Fort.
India to generate 8 mn jobs per year for next 10-12 years: Chief Economic Advisor Nageswaran
India must generate 8 million jobs annually for the next decade and boost manufacturing's GDP share to achieve developed nation status by 2047, according to Chief Economic Advisor V Anantha Nageswaran. Speaking at Columbia University, Nageswaran highlighted challenges like AI's impact on entry-level jobs and the need for balanced labor-technology policies.
Wait for guidance & evaluate stocks for buying or accumulating over next couple of months: Devang Mehta
India's economy is attracting foreign investment in infrastructure and renewable energy. Domestic sectors are expected to perform well, despite IT sector challenges. Experts advise evaluating businesses for accumulation. FIIs are returning, focusing on financials and new sectors. India stands to gain from the US-China trade situation. The nation may become a manufacturing hub, strengthening its global position.
Niti member bats for GM edible oils for self-sufficiency
Niti Aayog member Ramesh Chand has advocated for India to embrace GM edible oils to boost self-sufficiency, citing significant yield improvements seen in the US and China. He has suggested stringent labeling to address consumer concerns regarding GM produce.
Cautious narrative, sobering outlook: Top IT cos' results trail expectations amid tariff woes
The overhang of macro concerns reflected on several fronts, from muted outlook to hesitation to commit upfront on wage hikes, as management commentary from India's billion-dollar IT powerhouses remained largely sobering in the just-ended quarter. Hiring trends fared a tad better. TCS, Infosys and Wipro cumulatively added 1,438 employees between Q3 and Q4 FY25, marking a shift, and indeed a reversal, from declines of over 900 seen in the previous quarter.
Unknotting Kashmir’s carpet woes: Hand-knotted Kashmiri silk carpets called Kal Baffi are making a subtle, yet striking, comeback
Kashmir's tourism is booming, and its hand-knotted silk carpets are reviving. These carpets, known as Kal Baffi, face challenges like US tariffs and market fluctuations. However, rising Indian demand and innovative designs are fueling a comeback. High-quality craftsmanship, GI tagging, and global recognition are also boosting the sector. Government support is crucial to sustain this legacy and protect artisans' livelihoods.
India urges global support for small farmers amid climate change, price challenges
India advocated for prioritizing small and marginal farmers in global agricultural strategies at the 15th BRICS Agriculture Ministers meeting. Shivraj Singh Chouhan emphasized the necessity of policy support to empower these farmers against climate change and market volatility. BRICS nations launched a land restoration partnership and committed to a fair, sustainable agri-food system, inviting participation in World Food India 2025.
Defence exports will increase to Rs 50,000 crore by 2029-30: Rajnath Singh
Defence Minister Rajnath Singh unveiled a statue of Maharana Pratap in Chhatrapati Sambhaji Nagar, Maharashtra, highlighting the government's commitment to defence self-reliance. He noted India's defence exports have surged to Rs 24,000 crore, aiming for Rs 50,000 crore by 2030.
Boeing delivery plant in China latest hot spot in tariff war
Boeing faces renewed uncertainty regarding jet deliveries to China amidst escalating trade tensions and tariffs. Four 737 MAX planes are currently stationed at a completion center near Shanghai, with reports indicating that some may be recalled to the United States. This delivery limbo adds to Boeing's challenges, including supply chain disruptions and regulatory scrutiny, impacting its recovery.
Boeing jet departs China delivery plant as US tariffs bite
A Boeing jet, initially destined for a Chinese airline, is reportedly returning to Seattle, signaling potential delivery halts due to escalating US-China trade tensions. Despite Boeing's preparations for normal operations, including new 737 MAX planes at its Zhoushan completion center, uncertainty looms.
India-Russia partnership in a transformational era
In 2024, Russia-India relations saw significant activity, marked by high-level visits and forums. Prime Minister Modi's Moscow visit and the BRICS summit in Kazan highlighted intentions for a more just international order. A major investment forum in Moscow and a business forum in Mumbai underscored growing economic cooperation.
India to face global disruptions with policy agility: Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman stated India will prioritize policy agility amidst the escalating trade war between major economies, aiming to lessen the adverse effects on supply chains caused by rising protectionism. She highlighted India's confidence in navigating global disruptions through a strong domestic foundation, infrastructure development, inclusive growth, and regional cooperation.
Apple CEO Tim Cook spoke to Commerce Secretary Lutnick over tariffs threatening $2,000 iPhones: Washington Post report
Apple CEO Tim Cook quietly convinced the Trump administration to exempt key electronics from punitive tariffs—shielding iPhones from a price surge. As Trump’s trade war escalated, Cook’s discreet diplomacy with U.S. officials, including Commerce Secretary Howard Lutnick, helped Apple win a rare reprieve. While other companies scrambled and failed, Cook’s measured relationship-building with Trump paid off—again. But the relief may be short-lived. The White House insists the exemptions are temporary. For now, Apple has dodged the blow. But the storm isn’t over.
As tariff wars rage, India tries to steal China's thunder
Trade war: Amidst the US-China trade tensions, India is strategically positioned to enhance its manufacturing and exports, potentially benefiting from new opportunities arising from Trump's tariffs. The US sees India as a crucial partner, encouraging deeper trade ties and supply chain diversification away from China.
“There are more foreign capital focused on India today”: KKR’s co-CEO Joseph Bae
KKR is capitalizing on geopolitical turmoil and market volatility, mirroring its successful pandemic-era investment strategy. The firm recently announced $8.5 billion in deals, acquiring diverse companies across various sectors. KKR views India, with its political stability and pro-growth policies, as a key market for future investments, focusing on sectors like healthcare, digitization, and financial services.
Three T’s, one tight deadline: Can India juggle them all before the clock runs out?
India faces critical deadlines on trade, tariffs, and technology amid complex US relations. A trade deal with the US is sought, balancing concessions on goods with access for Indian talent and tech. India aims for fair terms, leveraging its negotiating strength to integrate with developed economies while prioritizing inclusive, solutions-based AI development.
China's forecast-beating growth belies storm clouds ahead: analysts
China's first-quarter growth exceeded forecasts, but analysts caution that impending tariffs could hinder future progress. Export surges driven by pre-tariff shipments and policy-boosted consumption may be short-lived. Beijing acknowledges global economic challenges and hints at proactive macro policies to bolster domestic spending and mitigate trade war impacts.
NBCC to reach Rs 25k cr revenue by FY29
NBCC (India) is accelerating its revenue target to FY29, aiming for ?25,000 crore, driven by successful redevelopment projects. Following the Delhi model, NBCC is in talks with multiple state governments for similar ventures. Redevelopment projects are expected to contribute significantly to NBCC's revenue, supported by a self-sustainable financial model.
Right time for India, UAE to invest in bilateral ties: Parliamentarian
A parliamentarian emphasizes the opportune moment for India and the UAE to strengthen their bilateral ties, highlighting visionary leadership and the necessity of collaboration to address global challenges. The Global Justice, Love and Peace Summit in Dubai addressed inequalities and promoted dialogue, with speakers advocating for inclusiveness and tolerance in an increasingly divided world.
Ketchup to Moon rock: What's the point of a World Expo?
Expo 2025 has commenced in Osaka, questioning the relevance of World's Fairs in the digital age. These events, dating back to the 1851 Great Exhibition, showcase technological and cultural advancements from numerous countries. While critics debate their necessity amidst online information and global issues, organizers emphasize the importance of in-person interactions and unexpected discoveries, highlighting architectural innovation and sustainability.
US tariffs could shrink global trade by 3%: UN economist
Tariffs imposed by the US could shrink global trade by three per cent, prompting a shift in export markets from the US and China towards India, Canada, and Brazil. China's retaliatory tariffs of 125 per cent on US imports signal a long-term strategy, potentially halting goods trade between the two largest economies.
Redevelopment work on 104 train stations under Amrit Bharat scheme completed: Minister Ashwini Vaishnaw
Railway Minister Ashwini Vaishnaw announced that 104 of the 1,300 stations being redeveloped under the Amrit Bharat scheme are complete. The project aims to modernize stations nationwide, including 132 in Maharashtra, with significant progress reported.
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