Business

Withdraws directives as volatility eases, some controls stay

NITI Aayog’s report highlights the Middle East conflict’s potential impact on India’s trade and economy, risking the current account deficit and exchange rate. Instability also slows India-GCC FTA talks, hindering market access. Despite global uncertainty, merchandise trade remains steady, with services showing strong performance.

Air India is investing $400 million to revamp its older wide-body planes with upgraded cabins, including suite-style business class seats, aiming to attract high-value passengers and boost revenue. The airline is also inducting new aircraft and expanding premium airport lounges, with refurbished Boeing 787s already enhancing customer satisfaction on key international routes.

The US government has launched a tool to refund over $166 billion in tariffs imposed by former President Trump, following a Supreme Court ruling. Importers can now submit documentation to recover payments, with electronic refunds for approximately $127 billion in duties available initially. The extent of consumer repayment hinges on companies sharing recovered funds.

Global markets experienced a downturn as oil prices surged due to renewed fears of escalating Middle East conflict. Iran’s closure of the Strait of Hormuz, following alleged ceasefire breaches, has unsettled investors. This uncertainty looms as crucial negotiations between Iran and the US approach, with Tehran indicating reluctance to participate under current conditions.

The Indian stock market saw mixed movements today, with the BSE and NSE experiencing gains and losses across various sectors. Trent and SBI emerged as top gainers on both exchanges, while companies like Titan and Axis Bank faced declines. Technology and banking stocks showed a general downward trend.

Indian Railways is launching 908 summer special trains, operating 18,262 trips between April 15 and July 15, 2026, to manage increased passenger demand. This initiative aims to ease waiting lists and enhance travel convenience across the country. A significant portion of these services is already open for booking.

Data from MarineTraffic shows that several Indian and foreign ships headed for Indian ports are still awaiting clearance near the Strait of Hormuz. According to the petroleum ministry, 17 vessels have been identified for evacuation.

India’s T&D sector is poised for significant growth, driven by nearly Rs 9 trillion in planned investments through 2032. Despite a recent slowdown in new project orders due to manufacturing constraints, the sector remains robust, fueled by renewable energy expansion and strong domestic and global demand.

The central issue, however, was whether the earlier maintenance order stood extinguished because the High Court had observed that prior payments would constitute permanent alimony. The Court held that this question could not be answered in a blanket manner.