India’s Forex Reserves Witness Growth
In a positive development for the Indian economy, the country’s foreign exchange reserves increased by $305 million, reaching a total of $654.271 billion for the week ending March 14, 2025. This steady growth in reserves reflects the strengthening of India’s economic stability amidst global market fluctuations.
Rising Trade Tensions & Tariff Updates
On the global front, US-India trade tensions continue to rise as both countries prepare to implement reciprocal tariffs starting April 2, 2025. The White House confirmed that the tariff plan is progressing as scheduled, with former US President Donald Trump reiterating his stance on international trade imbalances. He emphasized that the US has been “taken advantage of” by multiple nations over the years.
Possible US-India Bilateral Trade Agreement
Amidst these tensions, reports suggest that negotiations for a US-India bilateral trade agreement are advancing. Sources close to the matter indicate that the framework for this agreement could be finalized as early as next week. While Trump hinted at a possible reduction in India’s tariffs, there has been no official statement from Indian authorities on the matter.
