trade concessions

India has significantly increased import tariffs on gold and silver to 15% from 6% to curb imports and protect foreign exchange reserves. This move follows Prime Minister Modi's appeal for citizens to avoid gold purchases for a year, aiming to narrow the trade deficit and support the rupee amid global economic pressures.

Prime Minister Modi urged Indians to halt gold purchases for a year to protect foreign exchange reserves, a call supported by GTRI which highlighted a surge in gold imports straining the trade balance. Union Minister Ashwini Vaishnaw echoed the appeal, emphasizing reduced import spending amid Middle East conflict, leading to a sell-off in jewellery stocks.

The Union Cabinet has approved extending the AAI land lease for Nagpur's Dr Babasaheb Ambedkar International Airport, enabling a 30-year PPP concession to GMR Nagpur International Airport Limited. This decision paves the way for the airport's modernization and expansion, aiming to transform Nagpur into a major aviation and cargo hub.

US courts have again blocked Trump's 10% global tariffs, deeming them unauthorized. This ruling, following earlier tariff invalidations, signals a return to WTO's MFN rates. For India, this policy instability raises concerns, prompting advice to pause Free Trade Agreement talks until US trade systems stabilize, preventing one-sided deals.

All eyes in Beijing from tomorrow as Xi, Trump navigate trade, tech and geopolitical whirlpools

Facing a widening trade deficit, India's Prime Minister urges reduced gold purchases. Industry bodies propose tapping into the nation's vast household gold reserves. Their plan involves using refined household gold for domestic demand and channeling imported gold into jewellery exports via gold metal loans, aiming to boost working capital and cut imports.

Taiwan asserted that U.S. arms sales are protected by American law, aiming to reassure its citizens after the Trump-Xi summit. Taipei emphasized its commitment to deepening strategic ties with the United States, stressing that military assistance is not a negotiable concession with China.

President Trump's visit to China is overshadowed by the Iran War, which has disrupted global energy supplies and impacted his approval ratings. While trade and Taiwan remain on the agenda, the protracted conflict in Iran presents a significant challenge, with the US struggling to achieve its war aims and facing a decline in superpower status.

Trump’s philosophy is often mistaken for the absence of philosophy, but absence can become a system if practised with sufficient confidence. Every problem becomes a deal, every deal becomes a performance, every performance requires a winner, and the winner, ideally before anyone checks the paperwork, is Donald Trump.

Iran said it had demanded the release of its frozen assets and the end of a US blockade of its ports, after US President Donald Trump angrily rejected Tehran's terms for ending the Middle East war. The US leader did not say what had offended him in Iran's response, but Tehran's foreign ministry said it had called for an end to the US naval blockade and to the war "across the region" -- implying a halt to Israel's strikes targeting Hezbollah in Lebanon.

Iran's chief negotiator insists Washington must accept Tehran's peace plan, warning of continued failure otherwise. President Trump, however, deemed Iran's response 'unacceptable,' escalating tensions. The ongoing conflict has triggered an energy shock, spiking oil prices and threatening global supply chains. Fighting also persists in Lebanon, with Hezbollah vowing to make the battlefield 'hell' for Israel.

Billionaire investors Bill Ackman and Sir Christopher Hohn are at odds over Microsoft's future, specifically concerning AI's impact. While Hohn sees AI as a threat to Microsoft's core products, Ackman views the company as central to the AI revolution and has initiated a significant investment, believing its current valuation is attractive for long-term growth.

While the US and Israel engaged in conflict with Iran, China quietly leveraged the situation to expand its influence. By positioning itself as a diplomatic alternative and stabilizing energy supplies, Beijing benefited from a weakened American strategic position and growing uncertainty about US reliability among allies.

India-New Zealand FTA: It aims to double bilateral trade, provide Indian exporters duty-free access to the New Zealand market, and attract investments worth $20 billion over the next 15 years.