Cheaper Swiss medicines, wines coming at a store near you (Financial Express)
India’s new trade pact with the European Free Trade Association will sharply cut tariffs on a wide range of imports like Swiss medicines, iron and steel, textiles, and even smartphones, while also phasing in big reductions on wines, with cheaper bottles seeing duties fall to 50% in ten years and premium bottles dropping to 25%. Many European food products, such as olive oil, cocoa, salmon, cornflakes, and chocolate will gradually become more affordable as duties are eliminated over 5–10 years, though items like dairy, honey, and key grains remain excluded, protecting India’s sensitive farm sector. On the export side, almost all of India’s industrial goods will continue to enter Switzerland duty-free, which mainly locks in existing benefits rather than opening fresh opportunities, showing that the real consumer impact will be felt more on imports into India than on new access abroad.
Gold, silver log record gains in H1 FY26 amid US economic uncertainties (Business Standard)
Fueled by fears of a U.S. government shutdown, record debt, stubborn inflation, and global geopolitical tensions, gold and silver have surged to their strongest first-half returns in three decades, with international gold up over 22% and silver nearly 36%, while in rupee terms the gains are even sharper. Silver demand has been especially strong, driven by industrial use in EV batteries and solar panels alongside investor appetite, though traders warn it looks overbought and could correct before pushing toward record highs around $49–60 per ounce; gold too faces resistance near $4,000 an ounce but is still buoyed by central bank buying and safe-haven demand. In India, jewellers are preparing for Diwali with digital campaigns and lightweight designs to lure younger buyers, expecting a 12–15% rise in sales despite current muted demand, suggesting that consumer appetite and festive sentiment could sustain the rally even as prices remain volatile.
ADB lowers FY27 India growth forecast to 6.5% citing US tariff impact (Business Standard)
The Asian Development Bank trimmed India’s FY27 growth forecast to 6.5%, warning that steep U.S. tariff hikes will hit key export sectors like textiles, jewellery, shrimp, and chemicals, while also cautioning that net exports will drag more heavily on GDP than earlier thought. Inflation is expected to ease in FY26 before ticking up again in FY27, but domestic consumption should strengthen, especially in rural areas, thanks to lower food prices, tax cuts, softer GST rates, and a likely pay commission-driven salary boost. Investment momentum is set to cool due to global trade uncertainties, and although India’s fiscal deficit may exceed Budget expectations because of slower revenues and tax cuts, it will still stay below FY25 levels.
