India and the US have made further progress on concluding a mutually beneficial trade agreement, Union Commerce and Industry Minister Piyush Goyal has stressed, amid talks with the US Commerce Secretary Howard Lutnick towards the first tranche of Bilateral Trade Agreement (BTA).

India presents a compelling case to the US for a bilateral trade deal, given the outlook on growth and demography.

“Held a constructive meeting with Secretary Howard Lutnick for a mutually beneficial trade agreement,” said Goyal in a post on X social media platform on Thursday (US time).

The union minister further stated that the two nations are “committed to enhancing opportunities for our businesses and people”.

The Indian benchmark indices opened higher on Friday amid mixed global cues, as buying was seen in the FMCG, IT and auto sectors in the early trade.

At around 9.29 am, Sensex was trading 281.75 points or 0.35 per cent up at 81,233.74 while the Nifty added 109.75 point or 0.45 per cent at 24,719.45

Nifty Bank was up 69.85 points or 0.13 per cent at 55,011.15 The Nifty Midcap 100 index was trading at 56,582.95 after adding 258.10 points or 0.46 per cent. Nifty Smallcap 100 index was at 17,561.40 after climbing 58.30 points or 0.33 per cent.

According to analysts, the silver lining from the market perspective is India’s strong macros, particularly the resilient growth and declining inflation and interest rates.

22 May 2025 was a historic day for Indian Railways. The Prime Minister Narendra Modi inaugurated, laid the foundation stone and dedicated to the nation multiple development projects worth Rs 26,000 crore in Bikaner, Rajasthan today. Addressing the occasion, he welcomed the large gathering at the event, acknowledging the significant participation of people from 18 states and union territories who joined online. He highlighted the presence of several governors, chief ministers, lieutenant governors, and other public representatives. The Prime Minister extended his greetings to all esteemed dignitaries and citizens connected from across the country.

Indian equity markets ended lower on Thursday due to weak global cues, especially from the Asian markets which affected investor sentiment.

At the closing bell, the Sensex fell by 644.64 points, or 0.79 per cent, closing at 80,951.99. During the day, it moved between 80,489.92 and 81,323.24.

Similarly, the Nifty ended lower by 203.75 points, or 0.82 per cent, at 24,609.70. “Technically, Nifty formed a red candle on the daily chart, suggesting weakness,” said Hrishikesh Yedve of Asit C. Mehta Investment Interrmediates Ltd.

“However, the index found support around the 21-Day Exponential Moving Average (21-DEMA), which is placed near 24,445. On the upside, 25,000 will act as a key resistance level for the index in the short term,” he added.

On the 30-share index, the top losers were from sectors like auto and consumer goods.

An opportunity to grow exports is knocking on India’s door as supply chains are getting redrawn and steps which raise mid-tech labour-intensive exports can boost the country’s trade interlinkages, mass consumption, investment, and GDP growth, according to an HSBC report released on Thursday.

While there is a general sense that India is mostly a domestic demand-driven economy, it is in periods of rising integration with the world that India has grown its fastest, the report states.

The report uses the rolling correlation between India and world GDP growth as a measure of global integration, and finds that the 2000-2010 decade was a period of falling import tariffs, as well as rising global integration, export share, and GDP growth. In the next decade, 2010-2020, all of this changed.

There has been a steady increase in corporate investments during 2024-25, with core infrastructure industries playing a lead role in the growth, according to a report compiled by the Bank of Baroda’s economic research department.

The report, based on data from 1,393 companies across 122 industries, estimates that gross fixed assets, including capital work in progress, increased by 7.6 per cent to Rs 28.50 lakh crore in FY 25 compared with Rs 26.49 lakh crore for FY24.

Refineries accounted for the largest share of fixed assets at 31 per cent, followed by telecom services with 8.6 per cent, iron and steel products (5.9 per cent), cement (5.4 per cent), and power (4.8 per cent).

These five sectors constituted 56 per cent of the total fixed assets, the key contribution of core infrastructure industries to capital formation.

The HSBC Flash India Composite Output Index – which measures the month-on-month change in the combined output of India's manufacturing and service sectors – on Thursday reported robust business activity in May in the country, climbing to a 13-month high of 61.2, compared with 59.7 in the previous month.

At 61.2 in May, the HSBC Index showcased a sharp rate of expansion in private sector activity.

“The increase was the most pronounced since April 2024. There was a mild loss of growth momentum in the manufacturing industry but service providers reported the fastest rise in output in 14 months,” according to a HSBC Flash India PMI note.

The HSBC Flash India Manufacturing PMI was little changed from April's reading of 58.2. At 58.3 in May, the latest figure was consistent with a sharp improvement in the health of the sector.

Private sector growth in India moved up a gear during May, boosted by an acceleration in the service economy.

India’s food processing sector is on a transformative growth path, and with consumption trends aligning across urban and rural India, tier 2 and 3 cities are fast becoming the engines of economic growth, according to a new report.

The sector supports over 7 million jobs across the value chain, directly and indirectly, while enabling rural industrialisation and reducing post-harvest losses.

According to the report by Deloitte and FICCI, the sector accounts for approximately 7.7 per cent of India’s total manufacturing GVA (gross value added), and its critical role in generating employment, fostering rural development and enhancing value addition.

The agriculture and food processing sector, representing nearly 30 per cent of the national food market, is gaining momentum due to rising rural demand, digital advancements and strong policy support.

The global growth continues to face headwinds with persistent trade frictions, heightened policy uncertainty, and weak consumer sentiment weighing on the outlook. Despite this, the Indian economy is exhibiting resilience even after high trade and tariff-related concerns, the Reserve Bank of India (RBI) has said.

Persistent trade frictions, heightened policy uncertainty, and weak consumer sentiment continue to create headwinds for global growth.

“Amidst these challenges, the Indian economy exhibited resilience. Various high frequency indicators of industrial and services sectors sustained their momentum in April,” according to the RBI Bulletin.

A bumper rabi harvest and higher acreage for summer crops, coupled with favourable southwest monsoon forecasts for 2025, augur well for the agriculture sector.

The domestic benchmark indices opened lower on Thursday amid negative global cues as selling was seen in the IT and auto sectors in the early trade.

At around 9.26 am, Sensex was trading 726.42 points or 0.89 per cent down at 80,870.21 while the Nifty declined 225.0 point or 0.91 per cent at 24,588.45

Nifty Bank was down 336.20 points or 0.61 per cent at 54,738.90. The Nifty Midcap 100 index was trading at 56,312.00 after dropping 307.60 points or 0.54 per cent. Nifty Smallcap 100 index was at 17,509.10 after declining 39.50 points or 0.23 per cent.

According to analysts, technically, a breakout above or below the inside bar's range could offer clear directional cues. On the downside, 24,600 remains a critical immediate support, with stronger support near 24,500. A breakdown below this level could increase selling pressure and drag the Nifty index toward the 24,300–24,000 zone.