markets
India-Canada Trade Pact Could Be Finalised Before Year-End
India and Canada are aiming to complete a comprehensive trade agreement by the end of 2026 after concluding a fourth round of talks. The proposed CEPA would cover goods, services, investment and energy as both countries target C$70 billion in bilateral trade by 2030.
India’s Net Direct-Tax Collections Rise 13% to ₹12.1 Lakh Crore
India’s net direct-tax collections rose nearly 13% to ₹12.12 lakh crore by September 17, led by stronger corporate tax and advance-tax payments. Gross collections climbed 15%, while corporate advance tax jumped 18%, keeping revenue growth ahead of the government’s FY27 budget assumption.
Trump and Xi Prepare for High-Stakes Washington Summit
Xi Jinping will visit Washington on September 24 for high-stakes talks with Donald Trump covering tariffs, rare earths, Boeing sales, Taiwan, AI, fentanyl and Iran. With the world’s two largest economies still locked in strategic rivalry, even limited agreements could have global consequences.
Moody’s Lifts India Growth Forecast to 7% as Economy Defies Oil Shock
Moody’s has raised India’s FY2026-27 growth forecast to 7% from 6% after stronger-than-expected investment, manufacturing and domestic demand. The upgrade puts Moody’s above the RBI and IMF, though high oil prices, inflation and El Niño remain major risks.
Pakistan Slashes Government Fuel Use as Bangladesh Struggles With Blackouts
Pakistan has revived emergency fuel cuts and spending restrictions as the Gulf war drives up oil prices, while Bangladesh is battling LNG shortages, blackouts and factory disruption. The crisis is exposing how deeply both economies depend on imported energy.
Tata Sons Extends Chandrasekaran’s Tenure Amid Boardroom Rift
Tata Sons has reappointed N. Chandrasekaran as executive chairman for another five years, reversing his earlier plan to step down in 2027. The decision gives Tata leadership continuity but has exposed a boardroom rift with Tata Trusts chairman Noel Tata as listing pressure mounts.
Why the Fed’s Rate Hike Matters for India
The US Federal Reserve has raised rates by 25 basis points to 3.75%-4.00% and signalled more tightening may follow. For India, the move increases pressure on the rupee, bond yields, foreign investment and the RBI’s own rate outlook as oil prices and inflation remain elevated.
China’s Huawei Unveils New AI Chip Roadmap to Take on Nvidia
Huawei will launch the 960DT and Ascend 960PR AI chips in 2027 as it intensifies its challenge to Nvidia. The Chinese company is betting on large-scale chip clusters and its UnifiedBus networking technology to narrow the performance gap despite continuing US export restrictions.
EU Calls China Trade Deficit “Unsustainable” and Warns of Tougher Action
The EU has declared its trade deficit with China “unsustainable” after the gap reached €359.8 billion in 2025. Brussels says Chinese overcapacity, weak European exports and dependence on critical supply chains are now forcing it to consider tougher trade and industrial measures.
India Introduces Fees on Larger UPI Merchant Payments
From October 15, selected UPI merchant payments above ₹2,000 will attract a 0.4% MDR, capped at ₹300. Consumers and person-to-person transfers remain free, while the government says 96% of merchant transactions will still face no charge.
New Zealand Parliament Approves Landmark Free-Trade Deal With India
New Zealand’s Parliament has approved legislation implementing its landmark FTA with India. Once the deal enters into force, all Indian exports to New Zealand will receive duty-free access, while tariffs will be cut or removed on around 95% of New Zealand’s exports to India.