Eye on strong export advantage, India not keen to dent Turkey trade ties with curbs (The Indian Express)
Despite national security concerns over Turkish involvement in infrastructure, India is hesitant to impose import bans on Turkish goods due to a $2.73 billion trade surplus that benefits Indian exporters, particularly in engineering and MSME sectors. Industry groups have pushed for curbs on Turkish apples and marble, citing economic harm and Turkey’s geopolitical stance, but the government is weighing economic pragmatism over symbolic action. Any trade restrictions could backfire, undermining India’s export momentum to Turkey, especially amid global volatility.
Copper wire, tube imports hit multi-year highs in FY25; cathode shipments fell 34% year-on-year (The Indian Express)
India’s copper cathode imports fell 34% in FY25 due to a three-month disruption caused by new quality control norms, though downstream copper product imports surged sharply in the same period. The decline, mainly from delays in BIS certification among major Japanese suppliers, triggered industry backlash and a pending legal challenge, though imports have begun to recover. With domestic capacity set to expand via Adani’s new smelter, India may soon reduce its reliance on copper cathode imports despite temporary supply strains.
India watching Pak federal budget closely, to flag any breach of IMF aid terms (mint)
Pakistan is set to present its FY26 budget under close IMF oversight, raising concerns in India over whether international aid meant for economic reforms might be redirected to defence spending. Islamabad’s defence budget has grown significantly in absolute terms, even as its share of GDP has declined. With IMF conditions unusually strict for this aid package, New Delhi plans to monitor Pakistan’s fiscal transparency closely through multilateral channels.
