Prime Minister Narendra Modi met the Chilean President Gabriel Boric Font in New Delhi on Tuesday, April 1. 'We welcome the growth in mutual trade and investment. We agree that there is also untapped potential for further cooperation,' PM Modi said.

The countdown to April 2 has begun and large economies are keeping a close watch. US President Donald Trump will unveil reciprocal tariffs in less than 48 hours. Speaking at the Oval Office, President Trump said that he has "settled" on country-based reciprocal tariffs.However, he stopped short of revealing the details. The US President was touting a flat 20% tariff on all imports into the United States. But in the last few days, US trade officials have been signalling a "tailored approach" with different tariffs on different countries.

Gross GST collections in March 2025 rose 9.9% year-on-year to ₹1.96 lakh crore, driven by higher domestic and import revenues. Experts note the impact of year-end sales, economic activity in select states, and increased refunds. While consumption slowdown persists, GST growth signals economic resilience and strong tax compliance across industries.

India has reduced tariffs on US imports, cutting duties on motorcycles, bourbon whiskey, Ethernet switches, synthetic flavouring essences, and fish hydrolysate since January. Additionally, the 6% Equalisation Levy has been abolished, addressing concerns raised by USTR about its impact on US companies operating in India.

The Indian banking system had a liquidity surplus of ₹89,400 crore at the end of March 2025, compared to a deficit of ₹3.3 lakh crore in January.

Post withdrawl of MFN status, Swiss companies are eligible for greater relief in their home country. This tax benefit, as per Minister of State for Finance Pankaj Chaudhary, could incentive further Swiss investments.

A major factor affecting the currency markets is US President Donald Trump's announcement of impending 'reciprocal' tariffs on almost all trading partners. Trump has not provided specific details yet, keeping investors on edge.

Addressing the closing ceremony of the commemoration of the 90th year of the Reserve Bank of India, the President said the RBI’s remarkable journey over the past 90 years has been closely aligned with the vision and policies of the government.

The policymakers must act decisively. MDR isn’t just a fee—it’s a tax on progress. Letting it creep in now risks unraveling a decade of digital gains, handing foreign giants undue control over India’s economic future.

A US Trade Representative report on foreign trade barriers released Monday underscored India’s high levies structure, including 39% tariffs on agricultural products, eight times what the US charges.