Commerce Minister Piyush Goyal has said that no trade deals will be rushed, rejecting restrictive conditions from partner nations. This comes amid ongoing EU-India free trade talks and discussions with the US. Goyal’s remarks follow pressure from the US and EU regarding India’s Russian crude oil purchases, with the US imposing tariffs.
Domestic steel prices have hit a five-year low, with HRC at Rs 47,150 and rebar between Rs 46,500-47,000 per tonne. This decline is driven by rising imports, weak export demand, and global oversupply. Despite government measures, India remains a net steel importer, prompting discussions on policy support.
Gold prices have seen a significant 3% drop, ending a nine-week rally. This correction is attributed to profit-booking, a stronger dollar, and increased confidence in a US-China trade deal. While short-term pressure exists, experts foresee a positive long-term outlook driven by global monetary shifts and central bank buying.
Alaska Air Group significantly lowered its 2025 profit forecast, citing escalating fuel costs and ongoing operational challenges like adverse weather and air traffic control issues. The airline also projected a fourth-quarter profit well below analyst expectations, exacerbated by a recent IT outage that temporarily grounded flights.
Starlink is establishing nine gateway earth stations across India for its satellite communication services, with provisional spectrum assigned for security compliance demonstrations. Strict conditions are imposed, including using only Indian nationals for operations and storing all test data within India, as security agencies previously raised concerns over unauthorized use.
India’s two-wheeler market is seeing a clear shift towards premium motorcycles and scooters. Buyers are choosing models with higher engine capacities, better features, and modern styling. While a GST cut offers some relief for entry-level bikes, the long-term trend points to sustained growth in the premium segment. Manufacturers are responding by expanding their high-performance offerings…
The IMF urged Asian nations to reduce non-tariff barriers and enhance regional trade integration to mitigate vulnerability to US tariffs and global economic shocks. Increased intra-Asian trade, particularly in intermediate goods, offers a buffer against external disruptions. Broader trade agreements and voluntary barrier reductions are encouraged to boost regional GDP.
Three Indian companies, Aerotrust Aviation, Ascend Aviation India, and Shree Enterprises, have been sanctioned by the European Union. These firms are accused of supplying restricted items like advanced technologies to Russia’s military, contributing to its defence sector. The EU’s move is part of its 19th sanctions package against Russia over its Ukraine invasion.
President Trump has halted all trade negotiations with Canada, citing a recent advertisement featuring Ronald Reagan protesting US tariffs as “egregious behavior.” The $75 million Ontario-funded ad uses Reagan’s words to warn against trade barriers. The Ronald Reagan Foundation has dismissed the ad as a misrepresentation and is considering legal action.
White House press secretary Karoline Leavitt stated that India has reduced Russian oil imports at President Trump’s request, with China also scaling back purchases. Trump previously claimed India would cease Russian oil imports by year-end. India, however, has denied any policy shift, prioritizing consumer interests.
