India-Oman CEPA expands zero-duty goods access and broad services mobility with enhanced Mode 4 commitments.
The India-Oman CEPA grants Oman zero-duty access on 98.08% of its tariff lines (covering 99.38% of Indian exports) and immediate tariff elimination on 97.96% of lines, while India liberalises 77.79% of its tariff lines with TRQs for sensitive items; several agricultural and other sensitive products remain excluded. The agreement also advances regulatory facilitation for pharmaceuticals and substantive services commitments, including enhanced Mode 4 mobility, increased intra-corporate transferee quotas, longer permitted stays for contractual service suppliers, and 100% foreign direct investment in major services sectors.

India Oman CEPA liberalises tariffs broadly while keeping a negative list for sensitive sectors and quota concessions for some imports.
The Comprehensive Economic Partnership Agreement provides tariff liberalisation on a substantial proportion of product lines while preserving a negative list of sensitive tariff lines excluded from concessions. It grants preferential market access for labour intensive and manufacturing exports, offers quota based concessions for certain imports, and specifies tariff coverage measured by percentage of tariff lines and import value, with implementation and entry into force to follow agreed procedures.

India-Oman CEPA to expand market access, boost investment, and strengthen sectoral cooperation and supply chain resilience.
A Comprehensive Economic Partnership Agreement between India and Oman aims to expand market access, promote investment flows, and strengthen cooperation across key sectors to support trade diversification and supply chain resilience; it builds on India's existing preferential trade framework and responds to bilateral trade patterns with Oman as a significant export destination and supplier of petroleum and urea.

Farmers protest the EU Mercosur free trade deal over threats to agriculture and demands for stricter safeguards and inspections.
Farmers in Brussels protested the proposed EU Mercosur free trade agreement, arguing phased tariff removal over 15 years would harm EU agriculture and fuel political backlash; France and Italy demanded reciprocal agricultural guarantees, stricter pesticide and regulatory standards in Mercosur states, and increased EU port inspections. European leaders seek signature but require two thirds member backing, and opposition risks delaying planned signing in Brazil despite South American support and proponents' framing of the pact as a strategic counterweight to China and the US.

US tariff on Indian exports prompts plea to resolve via bilateral talks to protect textile and leather sector jobs.
A 50% US tariff on Indian exports has caused severe disruption in Tamil Nadu's textile, apparel and leather sectors, reportedly wiping out Rs 15,000 crore in confirmed orders in Tiruppur, forcing production cuts up to 30%, causing daily revenue losses of about Rs 60 crore, and precipitating layoffs and wage deferrals; the chief minister urges the prime minister to prioritise a bilateral resolution to restore competitiveness and preserve employment.

Indian pharmaceutical exports leverage trade pacts and regulatory cooperation to expand market access and competitiveness.
India's pharmaceutical export strategy emphasises trade liberalisation and regulatory strengthening to expand global market access, leveraging recent trade agreements with binding zero-tariff provisions. Key measures include addressing non-tariff barriers, expanding regulatory cooperation and mutual recognition to accelerate approvals, implementing the revised Good Manufacturing Practices framework, and building capacity in quality management, clinical research, biologics and digital compliance to support MSMEs and enhance export competitiveness.

US troop bonuses funded by tariffs aim to deliver $1,776 to service members amid inflation and labor weakness.
President announced a USD 1,776 bonus for about 1.45 million military service members, stating the payments are funded by tariffs. The announcement links the tariff receipts and recent adjustments to import tax policy-announced in April, later suspended and readjusted-to observable economic effects, including a reacceleration of inflation (CPI rising from 2.3% to about 3%) and a weakened labour market (average monthly job gains of 17,000 since April and unemployment rising to 4.6%).

Natural gas export deal to Egypt: USD35 billion over 15 years with half proceeds to state coffers.
A USD 35 billion natural gas export agreement was approved to deliver gas to Egypt over 15 years via a major field owner, with roughly half of the proceeds allocated to state coffers; ministerial objections that had delayed the deal were resolved when the energy minister endorsed the final terms.

India-Oman trade: leaders aim to finalise a Comprehensive Economic Partnership Agreement to deepen commercial and strategic ties.
Modi's Oman visit centers on finalising an India Oman Comprehensive Economic Partnership Agreement (CEPA) approved by the Union Cabinet after negotiations beginning in November 2023; officials expect the agreement, if signed during the visit, to deepen commercial ties, expand market access and strengthen trade, investment, energy, defence, security, technology, agriculture and cultural cooperation under a consolidated Strategic Partnership.

Union changes to rural employment funding shift fiscal burden to states under proposed VB-GRAM-G replacement.
Proposed replacement of MGNREGA by the Viksit Bharat Guarantee for Rozgar and Aajeevika Mission (Gramin) Bill, 2025 would reduce central financing and impose a larger share of rural employment funding on states, with a 60% state-40% central split, thereby shifting fiscal burden to state governments.

India and Oman sign a CEPA to cut tariffs, liberalise services, and boost investment across key sectors.
The Comprehensive Economic Partnership Agreement establishes a bilateral free trade framework to reduce or eliminate customs duties, liberalise services trade and promote investment, with market access enhancements for sectors such as textiles, food processing, automobiles and auto components, and gems and jewellery, and measures for customs facilitation, rules of origin and investment promotion to stimulate two way trade.

West Bengal boosts MSME-led growth with trade facilitation, logistics industry status, industrial parks, and expanded funding access.
West Bengal rejects claims of crippling debt while stressing compliance with Fiscal Responsibility limits and continuing development despite central arrears. The government prioritises MSME-led growth through logistics industry status, over 200 industrial parks, six economic corridors, trade and export facilitation centres, and targeted measures such as a Traders' Welfare Board, a single-window interface, a state trade portal to resolve payment delays, and bill-discounting access from 72 banks for registered MSMEs.

India-Oman Comprehensive Economic Partnership Agreement expected to be signed during Modi's visit, deepening bilateral trade ties.
The Prime Minister's visit is intended to finalise and potentially sign the Comprehensive Economic Partnership Agreement (CEPA) between India and Oman, negotiated since November 2023 and approved by the Union Cabinet, with officials expressing optimism that signature will deepen bilateral economic and commercial ties.

India-Oman Free Trade Agreement opens broad market access and investment opportunities across goods, services, energy and infrastructure sectors.
The India-Oman Free Trade Agreement is characterized as a market-access and investment facilitation framework opening tariff and non-tariff opportunities across goods and services-textiles, food processing, automobiles, gems and jewellery, agrochemicals, renewable energy and auto components-while leveraging Oman's geographic gateway role to the GCC, Eastern Europe, Central Asia and Africa. The Agreement highlights expanded Indian investments in green steel, green ammonia, aluminium manufacturing and logistics and envisages cooperation in services, energy transition, infrastructure, food security and startup ecosystems to deepen long-term bilateral economic integration.

India's economy projected near 7% in FY26; higher tariffs boosted US inflation and complicate India US trade talks.
India's GDP is projected close to 7 per cent in FY26 after an 8.2 per cent Q2, prompting upward revisions from earlier IMF and RBI estimates; rising US tariffs have fed into inflation and complicate trade relations, while the IMF's support to crisis countries operates through member-approved policy packages and implementation requirements.

E-cigarettes are fully banned; enforcement is by state agencies while customs use intelligence and K9s to curb illicit imports.
Electronic cigarettes are fully prohibited under the Prohibition of Electronic Cigarettes (PECA) Act, 2019, with enforcement by state and UT agencies; the Narcotics Control Bureau has not investigated any cases of vape devices seized with narcotics, there is no present proposal to amend the narcotics law, and customs and revenue agencies use intelligence-led screening, APIS profiling, non-intrusive inspection and K9 squads to interdict illicit consignments while demand reduction is pursued through helplines and awareness campaigns.

Blockade of sanctioned oil tankers to Venezuela drives crude prices up and triggers global market volatility.
A presidential order implemented a blockade of all "sanctioned oil tankers" into Venezuela following a tanker seizure, functioning as an executive trade-restrictive enforcement action that immediately pushed up crude prices and generated volatility across equity and currency markets as investors reassessed supply-side risks.

Jute mills face further statutory packaging dilution amid tight raw fibre supply and a pending government decision.
Regulatory dilution of statutory packaging demand is being considered after JAG reviewed Rabi planning that already dilutes about 11 lakh gunny bales and discussed a further 3-5 lakh bale reduction (working estimate 4.75 lakh). JBA reported a conservative domestic crop of ~52 lakh bales while IJMA estimated ~80 lakh bales including carryover; tight supply has kept raw jute prices near Rs 10,000/quintal. Gunny bag price fixation remains sub judice, and mills warned further dilution could cut capacity to about 50%, impacting employment and cash flows; a government decision from inter ministerial consultations is pending.

National Onion Centre to centralize onion marketing, oversee the value chain, and enable farmer-led pricing and trade decisions.
The National Onion Centre will centralize onion marketing and empower growers by implementing direct marketing from farmers to the Centre, overseeing the value chain (seed research, nursery development, fertiliser and pesticide planning), enabling collective procurement and continuous crop monitoring, promoting transparent APMC trading, and ensuring farmer participation in price, export/import and buffer stock decisions, with initial funding of about Rs 5 crore from farmer contributions.

Japan exports rise 6% in November as a US tariff deal resetting baseline duties to 15% helps US bound shipments recover.
November trade figures show Japan's exports up 6% and imports up 1.3%, yielding a trade surplus. A US tariff agreement reset the baseline import duty to 15 percent, aiding a rebound in US bound shipments-especially cars, chemicals and cameras-while EU demand boosted machinery exports and political tensions with China reduced shipments of chemicals, machinery and vehicles.