The Income Tax Department has imposed a ₹944.20 crore penalty on IndiGo’s parent company, InterGlobe Aviation, for the assessment year 2021-22. IndiGo has termed the penalty as "erroneous and frivolous," stating that its appeal against the assessment order is still pending. The airline plans to challenge the order through legal channels and maintains that the penalty will not impact its financial position or operations. The dispute arises from the tax authorities’ interpretation of financial matters, which IndiGo believes is incorrect. The airline remains confident of a favorable resolution through due process. (PC: Reuters)  

U.S. President Donald Trump, in a recent NBC News interview, dismissed concerns over potential car price increases resulting from new tariffs on foreign-made automobiles set to commence on April 2. He stated, "I couldn't care less" if automakers raise prices, expressing confidence that such hikes would drive consumers toward American-made vehicles. Trump emphasized that he would only consider negotiating the tariffs if substantial concessions are offered. These tariffs are part of his administration's broader strategy to bolster American manufacturing and address trade imbalances, despite criticism and concerns about consumer price impacts. (PC: Reuters)

Tin prices surged to a two-week high on Friday following a significant earthquake in Myanmar, the world's third-largest tin producer. Benchmark tin on the London Metal Exchange rose 2.5% to $36,140 per metric ton, peaking at $36,635—the highest since March 14. The quake's epicenter near Mandalay is approximately 425 km from the tin-rich Wa State, responsible for 70% of Myanmar's tin output. Although no damage has been reported in Wa State, concerns persist about potential delays in resuming mining operations, which were suspended in August 2023 to conserve resources. A meeting with investors is scheduled for April 1 to discuss mining resumption. Additionally, tin inventories in LME-registered warehouses are at their lowest since mid-2023, contributing to a 24% price increase this year. (PC: ETV Bharat & Reuters)

U.S. President Donald Trump announced a 25% tariff on imported cars and light trucks, effective April 3, 2025, escalating the global trade war. This decision, stemming from a 2019 national security investigation, aims to revive U.S. manufacturing but is expected to increase vehicle prices and slow production. Critics, including European and Canadian leaders, condemned the move, citing negative impacts on businesses and consumers. The United Auto Workers union supported the tariffs as a step toward restoring American jobs. Automaker stocks fell sharply following the announcement, indicating broader market concerns. (PC: Reuters)    

India is on track to surpass Japan as the world's fourth-largest economy by late 2024, with its GDP projected to reach $4.3 trillion, according to the International Monetary Fund (IMF). The country has doubled its GDP in a decade, outpacing China, the U.S., and Germany in growth. If the momentum continues, India could overtake Germany’s $4.9 trillion economy by 2027. Commerce Minister Piyush Goyal called the growth "outstanding." Experts predict India could become a $10 trillion economy by 2032, solidifying its position as a global economic powerhouse. (PC: India Today)

U.S. President Donald Trump announced a 25% "secondary tariff" on countries purchasing oil or gas from Venezuela, effective April 2, citing concerns over violent migrants. This move is part of a broader strategy to address the $1.2 trillion goods trade deficit by imposing tariffs on sectors like automobiles, pharmaceuticals, and aluminum. The announcement led to a nearly 1.5% rise in benchmark crude oil futures. China, the largest importer of Venezuelan oil, along with Spain, Italy, Cuba, and India, may be significantly affected. The policy's flexibility caused U.S. stocks to rise, with the S&P 500 gaining 1.8%. (PC: Reuters)

Indian stock markets surged on Monday as the Sensex jumped 1,003 points to 77,908.57 and the Nifty50 gained 286.95 points to 23,637.35. The rally was fueled by a strong return of foreign institutional investors (FIIs), who had pulled out ₹2.4 lakh crore since September. On Friday alone, FIIs invested ₹7,470 crore—the highest single-day inflow in four months. Analysts cite improving domestic economic indicators and fair valuations as key factors. “FIIs shifting from sellers to buyers has triggered massive short covering,” said VK Vijayakumar of Geojit Investment Services. (PC: India Today)

India has imposed anti-dumping duties on five Chinese products—unframed glass mirrors, isopropyl alcohol, sulphur black, cellophane transparent film, and thermoplastic polyurethane—to protect domestic industries from underpriced imports. The Directorate General of Trade Remedies (DGTR) recommended these measures after investigations revealed that these products were being sold in India below normal value, causing material injury to local manufacturers. The duties, effective for five years, vary by product: unframed glass mirrors face a duty of $234 per tonne; isopropyl alcohol, used in medical and industrial applications, is taxed between $82 and $217 per tonne; sulphur black, a dyeing agent, incurs up to $389 per tonne; cellophane transparent film, a packaging material, is levied at $1.34 per kg; and thermoplastic polyurethane, utilized in automotive, medical, and electronics industries, is charged between $0.93 and $1.58 per kg. (PC: Bangkok Post & Supply Chain Brain)

Facing potential U.S. tariffs and a widening trade deficit with China, India is considering easing certain trade and investment restrictions. This includes lifting some measures imposed after the 2020 Galwan clashes, such as visa limitations for Chinese personnel and non-tariff barriers on imports. Additionally, India may relax the 2020 policy that mandates government approval for investments from countries sharing land borders, notably China. These steps aim to counterbalance U.S. trade pressures and improve bilateral economic relations with China. The government is also contemplating allowing previously banned Chinese apps and resuming flights and visas for Chinese scholars. These measures are seen as strategic moves to diversify trade partnerships and mitigate external economic pressures. (PC: SME Futures)

China's Vice Premier He Lifeng recently met with leaders from multinational corporations, including Apple, Pfizer, Mastercard, and Cargill, to emphasize China's commitment to enhancing its business environment and attracting foreign investment. He described China's economy as "highly resilient" and "full of vitality." These discussions occurred during the China Development Forum, where Premier Li Qiang urged global market openness to counteract rising instability and uncertainty. The forum, attended by 86 companies from 21 countries, highlighted China's efforts to boost domestic consumption amid geopolitical tensions and new U.S. tariffs. Despite challenges, business leaders like Corning's CEO expressed confidence in China's long-term market potential. (PC: MSN)