India’s policy and economic focus this week will be on rising prices and trade relations, as the government monitors inflation at home while working to strengthen key international partnerships.
India-Oman FTA talks to strengthen trade ties
The deal is expected to provide duty-free access for 98 per cent of India’s exports to Oman, including textiles, agriculture and leather products. India, in turn, will lower tariffs on selected Omani goods such as dates, marble and petrochemical products.
Oman remains a key strategic partner for India in the Gulf region and serves as an important gateway for Indian trade into West Asia and Africa.
Retail inflation data to show consumer price trends
In March, retail inflation rose to 3.4 per cent from 3.21 per cent in February, mainly due to higher food and fuel prices. The rise came amid global energy disruptions linked to the US-Iran conflict, which pushed fuel costs upward. Both rural and urban inflation moved higher. Rural inflation increased to 3.63 per cent, while urban inflation rose to 3.11 per cent.
The upcoming data will help assess whether inflationary pressures are becoming more broad-based, especially as fuel and food prices remain sensitive to global developments.
WPI inflation to track producer cost pressures
The biggest pressure came from fuel and power, where inflation turned positive after nearly a year of deflation. Rising energy prices, driven by tensions in West Asia, significantly increased input costs for producers. At the same time, inflation in primary food articles moderated slightly.
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