Economy

Continued focus on quality infrastructure and logistics will be critical in strengthening India's cost competitiveness and manufacturing efficiency, the firms said.

According to Bessent's statement to CNBC, Europe was purchasing refined products made in India via Russian oil and was not ready to match the higher US tariffs levied on Indian goods due to them separately hashing out a trade agreement.

Representatives of India and the US are engaging in "robust negotiations", and remain in regular touch, sources said.

The Index of Industrial Production grew by 7.8% year-on-year during the month under review, as compared to the revised estimate of 7.2% in November.

In electronics, the FTA reduces tariffs of up to 14%, allowing India to compete more effectively with China, the US, Taiwan and Vietnam.

The Federal Open Markets Committee of the US Federal Reserve will announce the decision regarding the interest rate after midnight.

On the export side, Indian wines receive zero-tariff access to the EU.

No duty cuts apply to EVs below 20,000 euros, and concessions only begin five years into the FTA.

US discussions ongoing in cordial environment, Commerce Ministry added.

Canadian officials are liaising with international partners to create new frameworks for critical minerals trade.

It said that the scope for additional tax reforms in personal income tax and GST may now be limited.

Santanu Sengupta, Chief India Economist, Goldman Sachs expects a revision of India's growth outlook in case the US trade deal is delayed beyond Q1FY27

The Modi government is planning to expand the definition of startups to promote innovation in deep-tech in the upcoming Union Budget, according to sources.

The Centre is reportedly drawing up plans to introduce hybrid ATMs for providing coins and small-denomination notes at busy public locations.

The ongoing Fed meeting comes amid reports that the central bank is facing unusual political pressure from the Trump administration for rate cuts.

With the Economic Survey and the Union Budget 2026 just days away, expectations are running high. Stakeholders across sectors are closely watching Finance Minister Nirmala Sitharamans upcoming Sunday address, anticipating key announcements and policy signals.

While the deal has been welcomed for its strategic and long-term implications, brokerages remain largely measured on its immediate impact on Indian markets, flagging sector-specific opportunities and risks.

A decision to hold rates steady this month is likely to garner broad support from policymakers following a series of contentious cuts.

West Texas Intermediate was near $63 a barrel after jumping 2.9% in the previous session to the highest level since early October.

Under the India-EU free trade agreement, India has agreed to eliminate duties on most of the iron and steel products from the EU in a phased manner.