Daily News - Wednesday, 18 March 2026
Corporate overseas borrowings cross USD $5 Billion mark for first time in FY26 (The Hindu Business)
In January 2026, Indian corporates raised a record USD $5.336 Billion (INR ~445B) through External Commercial Borrowings (ECBs), crossing the USD $5 Billion mark for the first time in FY26, according to Reserve Bank of India (RBI) data. Of this, USD $4.18 Billion (INR ~348B) was mobilised via the automatic route, while USD $1.15 Billion (INR ~96B) came through the approval route, reflecting strong reliance on overseas debt markets. The previous month, December 2025, saw ECB inflows of USD $4.435 Billion (INR ~370B), highlighting a sharp month‑on‑month increase. Borrowers included non-banking financial companies (NBFCs) and large corporates, who tapped global capital markets to access cheaper funds compared to domestic lending rates. The surge underscores India Inc’s preference for foreign borrowings amid relatively lower global interest rates, while the Ministry of Finance and RBI monitor risks related to external debt sustainability and currency volatility. This record inflow adds to India’s external debt profile, which remains a key focus area for regulators balancing corporate funding needs with macroeconomic stability.
India’s trade deficit hit USD $27.1 Billion in February. Exports rise to USD $36.61 Billion (Money Control)
India’s merchandise trade deficit narrowed to USD $27.1 Billion (INR ~2.26T) in February 2026, down from USD $34.68 Billion (INR ~2.9T) in January, according to the Commerce Ministry. Exports rose slightly to USD $36.61 Billion (INR ~3.05T), while imports fell to USD $63.71 Billion (INR ~5.31T), though on a year‑on‑year basis the deficit widened sharply from USD $14.42 Billion (INR ~1.2T) in February 2025. Imports surged over 24% YoY, driven by a spike in gold (USD $7.45 Billion, INR ~620B, +218.55%) and silver (USD $1.66 Billion, INR ~138B, +285.23%) shipments. Key export growth sectors included engineering goods (+12.9%), electronics (+10.4%), chemicals (+6.85%), gems & jewellery (+4.1%), and meat/dairy/poultry (+22.7%), according to Commerce Secretary Rajesh Agrawal. Exports to the US, India’s largest market, rose 3.5% MoM to USD $6.9 Billion (INR ~576B) but fell 13% YoY, reflecting global demand weakness. Cumulatively, India’s merchandise trade deficit for April-February FY26 stood at USD $310.6 Billion (INR ~25.9T), higher than USD $261.8 Billion (INR ~21.8T) last year, while combined goods and services exports reached USD $790.86 Billion (INR ~66.0T), up 5.8% YoY, leaving an overall trade deficit of USD $109.6 Billion (INR ~9.1T).
India joins World Trade Organization push to cut remittance costs (livemint)
India has joined Morocco, Pakistan, and the African Group in pushing for a global framework to reduce remittance costs at the upcoming WTO Ministerial Conference in Yaoundé, Cameroon (26-29 March 2026). The joint proposal highlights that global remittance fees average 6.18%, with some corridors charging 5-6%, far above the UN Sustainable Development Goal (SDG 10.c) target of below 3% by 2030. India, the world’s largest recipient of remittances (USD $125B, INR ~10.4T in 2024), argues that lowering costs would save billions for households and boost financial inclusion. The Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) have showcased UPI interoperability as a model for reducing transaction costs and improving transparency. The proposal calls for WTO members to adopt a multilateral framework ensuring competition, interoperability, and transparency in remittance services. By bringing remittance costs into the 164‑nation WTO negotiating space, India is positioning itself as a leader in linking trade policy with development finance.
Adani Group unveils USD $100 Billion A.I. data centre plan (Indian Express)
Adani Group announced plans to invest USD $100 Billion (INR ~8.3T) by 2035 to build renewable-powered, AI‑ready data centres, expanding its current 2 GW capacity to 5 GW. The company projects this will catalyse an additional USD $150 Billion (INR ~12.4T) across server manufacturing, advanced electrical infrastructure, sovereign cloud platforms, and allied industries, creating a USD $250 Billion (INR ~20.7T) AI infrastructure ecosystem in India. Chairman Gautam Adani stated that nations mastering the symmetry between energy and compute will shape the next decade, positioning India as a global exporter of intelligence rather than just a consumer. The announcement coincided with the India-AI Impact Summit, where Finance Minister Nirmala Sitharaman had earlier unveiled a tax holiday until 2047 for foreign companies operating India‑based data centres. India’s data centre market is currently valued at USD $10 Billion (INR ~830B), with USD $1.2 Billion (INR ~100B) revenue in FY24, and private investments are expected to double from USD $70 Billion (INR ~5.8T) in FY25 to FY26, according to IT Minister Ashwini Vaishnaw. Other tech giants have also announced major investments: TCS (USD $6.5 Billion, INR ~540B), Google (USD $15 Billion, INR ~1.25T, with Adani partnership), Microsoft (USD $17.5 Billion, INR ~1.45T), and Amazon (USD $35 Billion, INR ~2.9T).
