Friday, March 13
India has restricted imports of specific jute and woven fabric products from Bangladesh to the Nhava Sheva seaport, escalating trade tensions. This decision, effective immediately, follows concerns over controversial remarks by Bangladesh's interim leader and growing ties with China and Pakistan. The move marks the third trade curtailment in recent months, impacting a bilateral trade relationship valued at $12.
Nike shares rose after announcing a production shift from China. The company anticipates tariff costs of $1 billion. Price increases are expected in the US this fall. Nike aims to reduce Chinese footwear production to single digits by 2026. Trade agreement details between the US and China remain unclear.
India's thermal coal imports from Russia surged 52% in May 2025, reaching a two-year high due to competitive pricing and higher-grade coal. While Russian coal imports increased, India's overall coal imports dropped by 7.9% in FY25, driven by rising domestic production and a focus on energy self-reliance. High-grade imports remain essential for key sectors.
Stock market today: The NSE Nifty increased by 88.80 points or 0.35 per cent to close at 25,637.80. The BSE Sensex gained 303.03 points or 0.36 per cent to reach 84,058.90, surpassing the 84,000 mark.
India is intensifying domestic rare earth magnet production amid China's export restrictions, impacting sectors like automobiles and electronics. The government, industry, and academia are collaborating to achieve competitive pricing, with technology transfer agreements underway. This push aims to build scalable infrastructure and reduce reliance on Chinese imports, ensuring supply chain resilience during global disruptions.
JSW Paints will acquire a 74.76% stake in Akzo Nobel India (ANIL) from Akzo Nobel NV for up to Rs 8,986 crores. The deal, pending regulatory approval and a tender offer, brings brands like Dulux into the JSW fold. JSW aims to build the next-generation paint company, leveraging ANIL's strong market position.
As trade talks with the US intensify ahead of a crucial deadline, the Global Trade Research Initiative (GTRI) urges India to prioritize a balanced agreement. GTRI emphasizes protecting agriculture, digital infrastructure, and regulatory sovereignty. India must avoid a politically driven deal that undermines long-term policy autonomy and food security, ensuring reciprocity and transparency.
India's telecom sector is set for a cybersecurity overhaul with the DoT's proposed rules, introducing a centralized 'Mobile Number Validation' platform. This platform aims to curb online fraud by enabling authorized entities to verify mobile numbers for a fee. The government can also suspend numbers without notice and collect transaction histories, raising data privacy concerns among experts.
India is expected to continue as a leading hub for Global Capability Centres. A PwC report indicates that most businesses plan to expand their operations in India. Over 150 new GCCs are projected to be established. The report suggests increased investment in infrastructure by the government. This will support India's digital transformation. The GCCs are evolving into innovation-led global hubs.
US stocks opened positively on Thursday, nearing record highs, with the S&P 500 leading the charge. McCormick's shares jumped following strong earnings and a positive outlook. Nvidia's gains continued, making it the most valuable US company. Despite a contraction in the US economy, optimism remains due to anticipated growth.
