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Mexico hikes tariffs up to 50% on Asian imports

Mexico has approved higher import tariffs on products from several Asian countries, including India and China. The move is meant to protect local industries and increase government revenue. The new duties will come into effect in 2026 and will cover products such as vehicles, auto parts, textiles, plastics, steel, footwear, and clothing.

The bill was passed in the Mexican Senate with 76 votes in favour, five against, and 35 abstentions, after it was approved by the lower house. Most products will face tariffs of up to 35%, while some could see increases as high as 50%. The first version of the proposal included higher tariffs on around 1,400 products, but the final plan reduced duties for nearly two-thirds of them.

Officials say the tariff hike is needed to help Mexican manufacturers compete with cheaper imports from Asia. They believe the new duties will protect jobs, strengthen domestic production, and improve Mexico’s role in global supply chains.

The tariff increase is also expected to boost government revenue, with experts estimating an extra $3.76 billion next year. This is seen as an important step to reduce Mexico’s fiscal deficit.

The decision comes as global trade tensions rise and ahead of a review of the United States-Mexico-Canada Agreement (USMCA). Some trade analysts and business groups have warned that higher tariffs could disrupt supply chains, increase production costs, and raise prices for consumers.

Countries without free-trade agreements with Mexico, including India and China, are likely to feel the biggest impact, as higher duties could make their exports less competitive.

Overall, the move is considered one of the most significant changes in Mexico’s trade policy in recent years. It shows the government’s focus on protecting local industries while managing international trade. Businesses and exporters are now closely watching the changes and preparing for the impact of the new tariffs.

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Russia begins fuel supply to Kudankulam plant, TN

Russia has delivered the first batch of nuclear fuel for the third reactor of the Kudankulam Nuclear Power Plant in Tamil Nadu, marking an important milestone in India’s largest civil nuclear project. The fuel assemblies, manufactured by Rosatom’s Novosibirsk Chemical Concentrates Plant, were flown in as part of a long-term agreement signed in 2024.

This delivery begins the initial fuel-loading process for Unit-3. Rosatom said seven flights will be used to ship the full core load and reserve fuel required for both Unit-3 and Unit-4. The supply deal covers the entire operational life of the reactors, ensuring steady fuel availability once they become active.

The development came as Russian President Vladimir Putin visited India and reaffirmed Russia’s commitment to expanding the Kudankulam project. Putin described the plant as a flagship of India–Russia cooperation and said Moscow would work closely with New Delhi to bring all six reactors to full capacity.

Currently, Units 1 and 2 are operational, while Units 3 through 6 are under construction. Once all units are completed, Kudankulam will generate 6,000 MW of electricity, making it India’s most powerful nuclear station.

Putin also highlighted potential future collaborations, including small modular reactors, floating nuclear plants, and peaceful applications of nuclear technology in areas such as healthcare and agriculture. He assured that Russia would continue to supply nuclear fuel reliably to support India’s growing energy requirements.

The fuel delivery is expected to accelerate progress at the site, strengthening the southern power grid and contributing to India’s clean-energy and energy security goals.

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India, Indonesia near $450 mn BrahMos deal

India and Indonesia are moving a step closer to finalising a major defence deal involving the BrahMos supersonic cruise missile, following high-level talks in New Delhi on November 27. Defence Minister Rajnath Singh met Indonesia’s Defence Minister Sjafrie Sjamsoeddin, who was on an official visit to India, to review bilateral defence ties and discuss ongoing cooperation in the Indo-Pacific region.

According to officials, both sides have reached a “broad understanding” on the pricing of the proposed BrahMos sale, which is expected to be worth around $450 million. Singh also showed a model of the missile to the visiting minister as part of the discussions. If the deal is signed, Indonesia will become the second foreign customer of the BrahMos missile system after the Philippines, which secured a contract in 2022.

The talks reflect New Delhi’s growing emphasis on strengthening defence partnerships in the Indo-Pacific, especially with countries that share similar strategic concerns. India and Indonesia, both maritime nations with long coastlines and key sea lanes passing through their region, have been deepening military cooperation over the years.

During the meeting, the ministers reaffirmed their commitment to maintaining a free, open, stable and peaceful Indo-Pacific. They agreed to expand collaboration in several areas, including maritime security, cybersecurity, defence industry partnerships, and supply-chain resilience. Discussions also covered support for submarine maintenance, military healthcare collaboration, capability development, and logistics cooperation, areas seen as essential for long-term strategic alignment.

The BrahMos missile, jointly developed by India and Russia, is known for its precision, speed, and versatility. For Indonesia, acquiring BrahMos would significantly boost coastal defence and deterrence, particularly amid rising regional tensions.

The meeting marks an important step toward finalising the sale, though negotiations on technical and contractual details are expected to continue. Both governments view the potential deal as a symbol of growing trust and a shared vision for regional security.

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India rises to ‘major power’ in Asia, 3rd globally

India has officially been recognised as a major power in the 2025 Asia Power Index released by the Lowy Institute, an Australia-based think tank that studies regional influence. This year, India achieved a score of 40, crossing the benchmark required to be classified as a major power for the first time. This is a significant milestone because India has hovered just below this threshold for several years.

In the overall rankings, India now stands at third place among 27 countries, behind only the United States and China. This places India firmly among the top regional players in terms of economic strength, military capability, diplomatic influence, and future potential. It also marks India’s strongest performance since the Index began.

One of the key reasons for India’s rise is its improving economy. The Index notes that India has become more attractive to foreign investors, benefitting from global shifts in supply chains. For the first time since 2018, India’s score for “economic relationships”, which measures trade and investment ties, showed a clear improvement. This growth helped strengthen India’s position across several economic categories.

India’s military capability also saw a notable boost this year. Analysts attribute part of this improvement to Operation Sindoor, a major operation conducted in 2025 that demonstrated India’s readiness and operational strength. The operation enhanced India’s defence credibility and contributed positively to its military score in the Index. Together with India’s growing defence technologies and modernisation efforts, this helped elevate its standing as a strategic power.

However, the report also highlights areas where India still lags behind. The biggest weakness is in defence networks, which measure a country’s alliances, partnerships, and military cooperation with other nations. In this category, India fell to 11th place, dropping two positions from the previous edition. This indicates that while India has strong capabilities, it has fewer formal defence partnerships compared to many other Asian countries.

The Index also points to India’s widening “power gap”, the difference between its potential capabilities and its actual influence on the world stage. Although India has improved across several indicators, its influence still does not fully reflect its economic and military strength. The gap with China remains especially large, showing that India has more work to do in translating its resources into global influence.

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Technology

Sennheiser launches premium HDB 630 in India

Sennheiser has introduced its new premium wireless headphones, the HDB 630, in the Indian market. Aimed at music lovers who want top-quality sound without wires, the HDB 630 combines audiophile-grade clarity with modern convenience.

The headphones support high-resolution audio up to 24-bit/96 kHz, whether connected through Bluetooth or USB-C. Sennheiser has included a special USB-C transmitter to ensure consistent high-quality wireless playback, even on devices that don’t support advanced codecs.

The HDB 630 features Sennheiser’s latest acoustic design, offering a clean, natural sound signature with detailed highs, smooth mids and controlled bass. Listeners can further personalise their audio using the Smart Control app, which adds a parametric equaliser and Crossfeed mode to create a more natural, speaker-like experience.

Comfort and endurance are major highlights. The over-ear design uses soft cushions and lightweight materials to reduce fatigue during long listening sessions. The headphones also deliver an impressive 60 hours of battery life, with a 10-minute quick charge providing up to 7 hours of playback.

Priced at ₹44,990, the Sennheiser HDB 630 will be available across major retail and online platforms. Early buyers may also receive a complimentary pair of Accentum Open earbuds worth ₹12,990.

With this launch, Sennheiser aims to offer a high-fidelity listening experience in a fully wireless form, combining premium sound, comfort and long battery life for everyday use.

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US removes 200+ food tariffs, India, Brazil gain big

The US has lifted tariffs on more than 200 food and farm products in a major policy shift aimed at lowering grocery prices and improving food supply. The decision, approved by President Donald Trump and effective from November 13, removes duties on items such as tea, coffee, spices, nuts, fruits, vegetables, and processed foods.

For India, the move is a significant boost. Exporters of tea, coffee, spices, cashews, ready-to-eat foods, and certain fruits and roots are expected to gain the most. Industry estimates suggest that India could see additional export earnings of USD 2.5–3 billion as products that earlier faced higher tariffs now become more competitive in the country’s. market. Officials say the decision restores a fair trade environment after Indian goods were subjected to steep duties in recent years.

However, experts caution that India may not benefit equally across all categories. For example, items such as bananas, tomatoes, and juices, also covered under the tariff rollback, are sectors where India has limited export share. Exporters also point out that gains will depend on logistics, pricing, and the ability to meet strict US. food safety standards.

The tariff changes also offer relief to Brazil. Earlier this year, the US imposed heavy duties, up to 40 percent, on Brazilian beef, coffee, cocoa and tropical fruits. Those penalties have now been partially reversed. The rollback, which is retroactive, may even qualify Brazilian exporters for refunds on earlier shipments. While some tariffs remain on a few items, Brazilian officials have welcomed the decision as a positive step toward stabilizing trade ties with Washington.

For American consumers, the tariff removal is expected to help bring down food inflation, one of the key economic concerns in the US. The administration believes that cheaper imports will reduce pressure on household budgets in the coming months.

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$93 million US arms deal strengthens India’s defence

India is set to receive a $93 million military shipment from the United States, aimed at enhancing its defence capabilities and reinforcing strategic ties with Washington.

The package includes 100 Javelin anti-tank missiles, 25 launch units, and 216 Excalibur precision-guided artillery rounds, along with spare parts, operator training, fire control systems, and technical support for seamless integration into India’s armed forces.

The Javelin missiles are portable, fire-and-forget weapons designed to destroy armoured vehicles, making them highly effective in modern combat scenarios. The Excalibur rounds use GPS guidance to deliver precise long-range strikes, reducing collateral damage and improving operational accuracy.

According to US officials, the sale will enhance India’s ability to counter regional threats while maintaining the military balance in the region. The US Defense Security Cooperation Agency (DSCA) has formally notified Congress of the transaction.

The deal highlights the growing defence partnership between India and the US, supporting India’s ongoing military modernization. American defence companies Lockheed Martin and RTX Corporation will supply the weapons and associated equipment, ensuring that India can operate and maintain the systems efficiently.

The sale also includes comprehensive training and technical assistance, enabling Indian forces to maximize the operational impact of the new systems. Analysts say the weapons will significantly improve India’s artillery and anti-armour capabilities, strengthening its deterrence posture.

This part of a series of agreements between the two countries, following previous deals involving fighter jets, surveillance systems, and missile technologies. Observers note that these transactions reflect deepening strategic cooperation and a shared commitment to regional security, as India continues to modernize its armed forces and enhance its operational readiness.

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India’s unemployment rate holds at 5.2% in October

India’s unemployment rate for people aged 15 and above remained steady at 5.2% in October, according to the Ministry of Statistics & Programme Implementation (MoSPI).

Rural unemployment fell slightly from 4.6% in September to 4.4%, while urban joblessness edged up from 6.8% to 7.0%. Among women, unemployment improved, mainly in rural areas, dropping from 4.3% to 4.0%, while men’s overall rate stayed at 5.1%.

The Labour Force Participation Rate rose to 55.4%, and the Worker Population Ratio increased to 52.5%, indicating more people are joining the workforce, especially women in rural regions.

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India’s October trade deficit hits $41.68 billion

India’s trade deficit surged to a record USD 41.68 billion in October 2025, up from USD 32.15 billion in September. The widening gap comes as exports fell sharply while imports rose, especially for precious metals like gold and silver.

Exports in October dropped 11.8% to USD 34.38 billion. Shipments to key markets such as the United States fell to USD 6.31 billion from USD 6.91 billion a year ago, affected partly by U.S. tariffs on Indian textiles, gems, and jewellery. Weak global demand also contributed to the decline in exports.

Imports, meanwhile, increased 16.6% to USD 76.06 billion. Gold imports alone jumped to USD 14.72 billion, nearly three times higher than in October 2024, driven by strong domestic demand and the festive season. Silver imports also rose sharply, by over 500%, reaching around USD 2.71 billion. Other imports, including crude oil, electronics, and machinery, also added to the higher import bill.

The combination of falling exports and rising imports has put pressure on India’s balance of payments. The growing trade deficit can affect the stability of the rupee and foreign-exchange reserves. Policymakers may need to take steps to manage non-essential imports while supporting export growth.

Despite the high merchandise trade deficit, India continues to see a surplus in services trade, which helps cushion the overall impact. Experts suggest closely monitoring trade data in November and December, as the festive season and year-end shipments could further influence numbers.

The October figures highlight challenges for India’s external sector and underscore the need for careful policy measures. Controlling non-productive imports, providing support to exporters, and promoting competitive shipments abroad will be key to managing the trade gap and maintaining economic stability.

Also Read: Government imposes import rules on certain platinum jewellery

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Government imposes import rules on certain platinum jewellery

The Indian government has tightened rules on importing certain platinum jewellery items. Starting immediately, specific types of platinum jewellery, especially unstudded pieces, are now “restricted” and require an import licence from the Directorate General of Foreign Trade (DGFT). These measures will stay in place until 30 April 2026.

The move comes after concerns that some traders were exploiting duty-free import provisions. The India Bullion & Jewellers Association (IBJA) noted that certain jewellery pieces imported under free-trade agreements with countries like Thailand contained high gold content, but were classified as platinum, allowing importers to avoid customs duties.

Officials also pointed out that some imported jewellery was being melted down and sold domestically, bypassing the 6–6.4% duty applicable on platinum. By imposing licensing requirements, the government aims to close loopholes, prevent revenue loss, and support local jewellery makers.

Industry experts say the curbs will increase paperwork for importers but could benefit domestic manufacturers by reducing cheap overseas competition. The restrictions follow similar measures taken earlier for silver jewellery and platinum alloys with lower purity, aimed at preventing misuse of free-trade agreements and controlling non-essential precious metal imports.

Overall, the government’s new rules are designed to balance trade, protect domestic businesses, and ensure that platinum imports are used appropriately in the jewellery sector.

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