India's sugar production is projected to rise 18 per cent to 34.90 million tonnes in the 2025-26 season starting in October, according to a forecast released by the Indian Sugar and Bio-energy Manufacturers Association (ISMA).

The increased production will take Indian sugar exports to 2 million tonnes between October 2025 and September 2026.

In the current 2024-25 season (October-September), ISMA estimated sugar production at 26.10 million tonnes. "The sugar production is estimated to be higher at 34.90 million tonnes with upward bias," said ISMA President Gautam Goel.

About 5 million tonnes of sugar can be diverted next season for ethanol production compared with 3.5 million tonnes in the current season, he added.

A lot is being speculated since US President Donald Trump announced levying of 25 per cent tariff on exports from India. Meanwhile, India has withstood pressure to open up its markets, keeping in mind the interests of farmers, MSMEs, and cheap energy needs, a report said on Friday.

"As the sanctions are stipulated to be implemented from August 1, India continues to engage with the American counterparts to iron out a trade deal," Ventura said in its report.

Negotiations are expected to resume in mid-August, and the deal is likely to be clinched by October.

"In this case, the pain would be relatively short-term with an improved trade trajectory," the report stated.

Close on the heels of the sanctions on Indo-Russian oil refining and marketing company Nayara, the US' 25 per cent tariffs and yet unquantified penalties for India’s continuing purchases of Russian crude and military hardware, have the potential to disrupt exports and impact the economy. However, unlike other countries which have yielded to President Trump’s diktats, India has withstood pressure to open its markets, keeping in mind the nationalistic interest of farmers, MSMEs, and cheap energy needs, as per the report.

India’s manufacturing sector gained momentum in the month of July as Purchasing Managers’ Index (PMI) rose to a 16-month high of 59.1, up from 58.4 in June, despite global uncertainties and US tariffs, according to data released by S&P Global on Friday.

The HSBC India Manufacturing Purchasing Managers’ Index (PMI) climbed to a 16-month high of 59.1, driven by strong gains in new orders and output, though business sentiment and hiring momentum showed signs of moderation.

“India recorded a 59.1 manufacturing PMI in July, up from 58.4 during the prior month. This marked a 16-month high for the sector, which benefited from strong growth in new orders and output,” said Pranjul Bhandari, chief India economist at HSBC.

“At the same time, however, business confidence fell to its lowest level in three years due to concerns over competition and inflation,” Bhandari added.

India’s manufacturing sector remains on a strong footing entering the second half of FY25.

The sustained manufacturing resilience comes on the back of robust domestic demand and continued output expansion.

The imposition of 25 per cent tariff on India with penalty is a "bad business decision" but the mysterious forces of global supply chain will auto adjust and cushion the impact, and Indian businesses and firms would do well to reinvigorate the 'Made in India' as a hallmark of unquestionable quality, an SBI Research report said on Friday.

Not surprisingly, the US GDP, inflation and currency face a greater risk of downgrades compared to India, the report noted.

Though the US is India's top exporter (20 per cent in FY25), India has diversified its export destinations, and the top 10 countries only accounted for 53 per cent of total exports.

The top 15 items exported to the US accounted for 63 per cent of total exports. Electronics, gems and jewellery, pharmaceuticals and nuclear reactors and machinery account for 49 per cent of India's exports to the US.

The Indian markets started the day on the lower side on Friday, tracking weak global cues amid new Trump tariffs. The pharmaceutical stocks took the biggest hit, with Nifty Pharma declining 2.75 per cent.

At 9.25 am, Nifty 50 was down 51 points or 0.21 per cent from yesterday's close, now at 24,716, while the BSE Sensex has slipped 179 points or 0.22 per cent, trading at 81,005.

Among broad market indices, both BSE MidCap and BSE SmallCap rose 0.05 per cent.

Among sectoral indices, the Nifty FMCG index was an outlier with a gain of 1.46 per cent. Apart from strong selling in pharma stocks, Nifty IT shed 0.80 per cent, the Nifty Metal index fell 0.99 per cent.

India's Global Capability Centres (GCCs) are preparing for a talent expansion in 2025, with 48 per cent of GCCs planning to increase their workforce beyond 2024 levels, a report said on Thursday.

According to the report, early-career lateral talent (1–5 years) remains the primary hiring focus for GCCs, as they balance cost, capability, and adaptability.

"Hiring sentiment remains strong for FY26 with 48 per cent of GCCs expected to increase hiring, while 19 per cent will maintain similar hiring levels seen in FY24," said Taggd, a recruitment firm, in a joint report with Confederation of Indian Industry (CII) and JLL India.

GCCs are at the centre point in India’s growth story this year. For leaders building or scaling GCCs here, India’s unique context demands a strategic, location-aware, and talent-centric approach that goes beyond global playbooks,” said Devashish Sharma, CEO, Taggd.

The United States’ decision to impose a 25 per cent tariff on India should be seen not just as a challenge, but also as a major opportunity for the country, industry leaders said on Thursday.

Speaking on the development, Ranjeet Mehta, CEO and Secretary General of the PHD Chamber of Commerce and Industry (PHDCCI) said that the higher duty is not limited to India but also targets other major exporting nations such as China, Vietnam, and Bangladesh, with China and Vietnam facing even steeper tariffs.

He noted that the US is recalibrating its trade policy, leading to a shift in global supply chains.

Mehta admitted that Indian MSMEs and industries may face short-term difficulties due to the tariff, but in the long run, it could help India strengthen its position as a trusted global partner.

Citing India's higher tariffs on American goods, US President Donald Trump has declared a 25 per cent tariff on Indian imports. However, shipments worth over $25 billion, primarily of smartphones and pharmaceuticals, are currently exempted from these higher tariffs.

Pharmaceuticals and electronics (primarily smartphones) accounted for $10.5 billion and $14.6 billion of India's total exports to the US in FY25, respectively.

Trump has not yet included these key industries in the new tariffs that are slated to come into effect from August 1.