India is considering imposing import duties on select U.S. products in response to Washington's tariffs on steel and aluminium imports, according to a document submitted to the World Trade Organization (WTO) on May 12, 2025. The U.S. initially introduced these tariffs, including a 25% levy on steel, in 2018 under President Donald Trump's administration, which have since been extended. India, the world's second-largest crude steel producer, stated that these U.S. measures affect $7.6 billion worth of Indian exports. In retaliation, India is planning targeted tariff increases on unspecified U.S. products. Additionally, the U.S. has threatened to impose 26% reciprocal tariffs on Indian goods. Amid ongoing trade negotiations, New Delhi has offered to reduce the tariff disparity with the U.S. by two-thirds. The dispute unfolds as India also imposed a 12% temporary tariff on steel imports, primarily targeting cheap imports from China, to support its domestic industry. Simultaneously, India is pursuing trade talks with various partners to boost access for its steel exports. (PC: The Statesman & Reuters)

Indian stock markets opened sharply higher on Monday, with the Sensex jumping 1,793 points to 81,248.20 and the Nifty rising 553 points to 24,561.25. This marks the first trading session since the India-Pakistan ceasefire agreement. Experts say easing border tensions and strong investor confidence led to the rally. Market analyst Ajay Bagga noted that Indian markets have bounced back from recent conflict-related losses. Positive global cues, including productive US-China trade talks, also boosted sentiment. Meanwhile, gold prices dipped over 2%, and oil and US dollar values climbed. The market's strong start reflects optimism in the wake of de-escalation. (PC: PTI)

Following a recent ceasefire agreement between India and Pakistan, market analysts anticipate a potential stabilization in Indian equities. The truce, brokered after escalating tensions due to cross-border skirmishes and military operations, aims to de-escalate the situation along the Line of Control. While the ceasefire may alleviate immediate geopolitical concerns, its durability remains uncertain, and investors are advised to remain cautious. The Indian stock market's response on Monday will likely hinge on the perceived stability of this ceasefire and any further developments in the region. Renewed tensions could negatively impact investor sentiment. (PC: Mint)

The UK-India Free Trade Agreement brings major gains for the Scotch whisky industry. India will cut import taxes on Scotch from 150% to 40% over 10 years, making UK whisky much more affordable in the world’s largest whisky market.   This move is expected to boost exports by £1 billion in five years and create 1,200 jobs across the UK. Mark Kent, Chief Executive of the Scotch Whisky Association, called it “a once-in-a-generation opportunity” for growth. More small and medium UK whisky producers can now access the Indian market, reaching millions of new consumers. (Representative image)

The UK-India Free Trade Agreement is a major win for British producers of food, drink, and medical devices. India will cut tariffs on popular UK exports like chocolate, biscuits, salmon, and soft drinks, making them more affordable in the world’s fastest-growing market. This gives UK brands the chance to reach millions of new Indian consumers, especially as demand for premium imported products rises.   At the same time, the deal reduces tariffs on UK medical devices such as surgical tools and diagnostics equipment. The agreement also supports smooth customs processes and digital trade systems—benefits especially valuable for small and mid-sized exporters.   With India’s healthcare and consumer sectors growing rapidly, the deal is expected to unlock billions in trade, boost UK jobs, and strengthen economic ties. (PC: Representative)

The UK and India have signed a major Free Trade Agreement that will help both economies grow. The deal removes or reduces import taxes (tariffs) on 90% of UK products sold to India. This includes big British exports like Scotch whisky, beauty products, medical devices, and cars. For example, whisky tariffs will fall from 150% to 40% over 10 years, creating more jobs and boosting exports by up to £1 billion. British-made medical and cosmetic products will become cheaper in India, helping small businesses grow. Car tariffs will also drop sharply. The deal is expected to add £4.8 billion to the UK economy and increase wages by £2.2 billion every year. Prime Minister Keir Starmer said, “This landmark deal with India will grow the economy and deliver for British people and businesses. It’s a win for workers, exporters, and consumers.” It’s the UK’s biggest trade deal since Brexit. (PC: Sky News)

In April 2025, Tesla's UK sales plummeted 62% year-on-year to 536 units, marking the lowest in over two years, despite a 6.9% rise in overall battery-electric vehicle registrations. This decline mirrors broader European trends, with Tesla's sales dropping significantly across major markets. Factors include intensified competition from European and Chinese EV manufacturers—Volkswagen and BYD saw UK sales surge by 194% and 311%, respectively—and growing public backlash against CEO Elon Musk's political affiliations, notably his support for far-right movements. Incidents of protests and vandalism at Tesla facilities have been reported. In response to disappointing Q1 results, Musk has pledged to refocus on company operations, with hopes pinned on the revamped Model Y launching in June. (PC: Reuters)

Equity indices Sensex and Nifty surged in early trade on Monday amid sustained foreign fund inflows, a sharp drop in crude oil prices, and firm trends in the US markets. The 30-share BSE benchmark gauge climbed 386.95 points to 80,888.94, while the NSE Nifty surged 114.05 points to 24,460.75. Major gainers included Adani Ports, Asian Paints, Bajaj Finserv, TCS, Infosys, HDFC Bank, Power Grid, HCL Tech, Titan, and Tata Motors. Kotak Mahindra Bank fell nearly 6% after reporting a 7.57% decline in consolidated net profit to ₹4,933 crore for Q4 FY25, primarily due to elevated stress in the microlending book. Foreign Institutional Investors (FIIs) bought equities worth ₹2,769.81 crore on Friday. Global oil benchmark Brent crude dropped 3.65% to $59.05 a barrel. (PC: PTI)

Samsung is contesting a $520 million tax demand from Indian authorities over alleged misclassification of Remote Radio Head components imported between 2018 and 2021. The company filed a 281-page appeal, asserting that officials were aware of the classification method, as Reliance Jio had imported similar equipment until 2017. Samsung claims Reliance was warned by tax authorities in 2017 but did not inform Samsung, and officials raised no concerns during the years in question. Additionally, seven Samsung employees face $81 million in fines, totaling $601 million—significant relative to Samsung's $955 million net profit in India last year. Samsung alleges the tax order was hastily passed without a fair hearing. (PC: Reuters)

India is poised to gain strategically from the recent Ukraine-US critical minerals agreement, which aims to expand operations at Ukraine’s Black Sea ports. This pact not only boosts Kyiv’s mineral exports but also opens new maritime trade routes for India, allowing more efficient import of key resources such as titanium, lithium, and agricultural products. The improved access helps India diversify supply chains and reduce dependence on unstable overland routes. With reduced shipping costs and streamlined logistics, India enhances its global trade resilience and deepens ties with both Ukraine and the West amid shifting geopolitical dynamics. (PC: Reuters)