Will India Become the World’s Third-Largest Economy by 2028?

India-Brics trade booms to $416 billion, but deficit keeps rising

India-Brics trade with the BRICS bloc reached $416 billion in CY2025, growing about 10% annually since 2021, while India’s goods trade deficit with BRICS nearly doubled to $224 billion due to a 12% CAGR in imports, with BRICS’ share of India’s total imports rising to 43% and China being the main source of the deficit (over $100 billion).

Head-on

Xi Jinping’s meeting with Donald Trump highlighted unresolved US-China tensions in trade, technology, Iran, and investment, with Xi stressing the Thucydides Trap as a central risk to avoid conflict, while India pursues strategic equidistance as it rises as a future major power.

Best of the Week: despite austerity measures, India braces for wider trade gap | Mint

Petrol and diesel prices rose by about ₹3 per litre after more than two years of stability, while Air India’s losses weighed on Tata’s profits, in a week that also questions whether the courtroom can function as a marketplace.

Oil drives April exports to highest in 4 years; imports up 10%, trade deficit at 3-month high

India’s April exports rose to $43.6 billion (up 13.8%, the fastest in five months and a four-year high) driven by higher oil prices, while imports grew 9.9% to $71.9 billion, widening the trade deficit to $28.3 billion, with oil products up 34.7% and gold imports surging, and commerce officials optimistic about sustaining growth amid regional headwinds and ongoing push to reach $1 trillion in exports through FTAs and export-focused initiatives.

‘India, UK work on steel issue for trade pact rollout’

India and the UK are close to finalizing the India-UK Comprehensive Economic and Trade Agreement (CETA) while working on a “unique and creative solution” to Britain's new steel safeguard to enable early operationalisation, as the UK imposes a 60% tariff-free quota reduction for steel imports from July 1, 2026, with above-quota steel facing a 50% tariff; the pact, signed July 24, 2025, would make 99% of Indian exports to the UK duty-free and phase in tariff reductions on UK goods, with ongoing talks to address steel-related sticking points.

Rupee breaches 96/$ before closing at new low

The rupee fell to a record low of 96.14 per dollar before closing at 95.97 amid widening current-account deficits, persistent foreign selling, and global factors such as higher oil prices, rising US yields, and risk sentiment tied to geopolitical concerns.

Brace for price rise after fuel hike; inflation may increase 10-25 bps, RBI likely to reassess projections for yr

Rising petrol and diesel prices are expected to lift headline CPI inflation by about 10-25 basis points in the coming months, prompting economists and analysts to revise FY27 inflation projections and signaling potential pass-through to transport costs and broader goods and services.

India on Track for USD 2 Trillion Exports by 2030, Says Piyush Goyal

India aims to reach USD 2 trillion in exports by 2030, backed by streamlined processes, modernized infrastructure, broader market access, and nine FTAs signed in the last three-and-a-half years, as exports hit a record USD 863 billion in FY26 amid global trade slowdowns.

India’s VCs are beating Silicon Valley at home - Rest of World

Indian venture capital is overtaking American funds in India, with domestic VCs now leading most Indian tech investments, faster and smaller early-stage checks, a deep understanding of local markets, and a shift in credibility away from Silicon Valley toward homegrown capital, as American firms pull back amid higher rates and tougher fundraising.

India Electronics Exports Surge 40% in April 2026

Electronic goods exports from India surged 40.31% year-on-year to $5.18 billion in April 2026, marking a record month and signaling a structural shift in India’s electronics manufacturing—from assembly to upstream component exports—driven by Make in India initiatives and expanded PLI incentives, with continued strong overall merchandise and services export growth and a narrowing trade deficit.