Luxury fashion house Prada has signed a landmark pact with Indian government‑linked bodies LIDCOM and LIDKAR to bring traditional Kolhapuri chappals to the global fashion stage, blending centuries‑old artisan techniques with modern design. The “Prada Made in India – Inspired by Kolhapuri Chappals” collection will be crafted in India by skilled artisans from Maharashtra and Karnataka and launched worldwide in February 2026 across Prada’s 40 retail outlets and online platforms. Supported by the Maharashtra government, the initiative aims to honour artisans, expand global recognition, and provide training, employment and new opportunities while preserving this GI‑tagged heritage craft. The collaboration follows criticism of a previous Prada collection that featured Kolhapuri‑inspired designs without proper credit, prompting the brand to work directly with local craftspeople. (PC: NDTV)

Prime Minister Narendra Modi held a warm and engaging phone call with U.S. President Donald Trump amid ongoing India-U.S. trade negotiations, reviewing progress in their Comprehensive Global Strategic Partnership and discussing regional and global developments. Modi stated that India and the U.S. will continue to work together for global peace, stability and prosperity, highlighting shared efforts to sustain momentum in trade discussions. The talks in New Delhi saw both sides aim to expand cooperation in technology, energy, defence and security. Commerce Minister Piyush Goyal said a deal will happen only if mutually beneficial, while U.S. officials acknowledged India’s strong offer. (PC: Reuters)

Mexico imposed tariffs of 5-50% on over 1,400 products from non-preferential trade partners including India, China, and Thailand, effective January 1, 2026. The move threatens India's $5.75 billion annual exports to Mexico, particularly $1 billion in automobile shipments from Maruti Suzuki, Volkswagen, Hyundai, and Nissan. Passenger vehicle duties rise from 20% to 50%. Engineering goods dominate India's exports at 61% ($3.5 billion), with automobiles comprising one-third. Mexico is India's third-largest car export market after South Africa and Saudi Arabia. FIEO called the timing "wrong" as exporters already struggle with 50% US tariffs. The Society of Indian Automobile Manufacturers urged maintaining status quo in November.(PC: HT)

A new photograph shows Saurabh and Gaurav Luthra at Thailand's Phuket Immigration Control Centre, surrounded by Thai officials after being detained from their hotel room following India's extradition request. The Delhi-based restaurateurs will be transported to Bangkok tomorrow for legal formalities before being handed over to Indian authorities. The brothers are wanted in connection with a Goa nightclub fire tragedy that killed 25 people. They fled India anticipating arrest and sought anticipatory bail, arguing they weren't present during the incident. After courts refused to stay their arrest, Indian authorities suspended their passports under Section 10A of the Passport Act, creating immigration complications that led to their detention in Thailand.

UK companies expanded their Indian footprint with Rs 5,693 billion turnover and 552,902 employees, according to Grant Thornton Bharat and CII's 'Britain Meets India' 2025 report. The study identified 794 UK-owned companies operating in India, up from 667 last year, with 146 high-performers achieving 49% average growth. The India-UK Comprehensive Economic and Trade Agreement (CETA), signed during PM Modi's July UK visit, aims to enhance the 44.1-billion-pound bilateral partnership pending British Parliament ratification. Business services lead at 19%, followed by industrial products (18%) and financial services (14%). Maharashtra and Delhi NCR host 67% of high-growth UK firms. Vedanta Limited tops UK companies with Rs 1,463 billion revenue and 97,015 employees. (PC: X) 

Prime Minister Narendra Modi and US President Donald Trump held a phone conversation Thursday amid ongoing trade negotiations between both nations. Modi stated they reviewed bilateral progress and discussed regional and global developments, emphasizing continued cooperation for "global peace, stability and prosperity." The call followed US Trade Representative Jamieson Greer calling India "a difficult nut to crack" while acknowledging receipt of India's "best ever" trade proposal during two-day talks in New Delhi. Key disagreements persist over farm imports, particularly US crops like corn and soybeans, with India protecting small farmers from foreign competition. Trump recently threatened new tariffs on Indian rice over alleged dumping, adding to existing 50% tariffs, America's highest on any country.

Mexico approved tariffs up to 50% on hundreds of goods from countries without trade agreements, including India and China, effective next year. President Claudia Sheinbaum's government justified the move to protect local employment and manufacturing. Indian automakers face the heaviest impact, as Mexico is India's third-largest car export market after South Africa and Saudi Arabia. The tariffs threaten $1.8 billion worth of shipments from Volkswagen and Hyundai. India exported $5.63 billion to Mexico in 2025, with vehicles comprising $1.86 billion, followed by electrical equipment ($612 million), machinery ($561 million), organic chemicals ($388 million), and aluminum ($386 million). Indian industry groups are lobbying to prevent implementation. (PC: AFP) 

Immigration attorneys urgently warn H-1B visa holders against traveling to India following mass postponement of visa interviews from December to March-April 2026. The US Embassy's last-minute rescheduling has stranded hundreds who traveled for December appointments. Experts caution that traveling risks job loss, as employers cannot maintain vacant positions for months, and many companies prohibit extended remote work from outside the US due to export-control, payroll, and tax restrictions. Those already in India awaiting visa stamping must wait indefinitely. The postponements follow the State Department's new social media screening requirements for H-1B and H-4 visa applicants. Attorneys advise staying in the US unless holding valid visa stamps, warning delayed returns could mean unemployment and family separation. (PC: News18 & Business Standard)

Mexico has approved a new tariff plan that increases import duties on more than 1,400 products from countries without trade deals, including India. Some goods will face tariffs as high as 50%, while most will fall under the 35% range. The new rates will start next year and expand through 2026. India exports items like textiles, auto parts, steel and engineering goods to Mexico, and these will now become costlier. Experts say the move may be linked to pressure from the US before the USMCA review. Indian exporters may face higher costs and reduced access to the Mexican market. (PC: HT)

Saurabh and Gaurav Luthra, wanted in the Goa nightclub fire that killed 25 people, have been detained in Thailand. The first photos show the brothers in custody with their hands tied and passports in hand. They fled to Phuket hours after the fire at Birch by Romeo Lane in Arpora. They face charges of culpable homicide and negligence. Officials say the process to send them back to India has begun. The fire started during a musical event and spread fast due to flammable decor and lack of safety gear. Police have already arrested four staff members and a business partner. (PC: HT)