India · Country watch
US Trade Deal Progress, Microsoft Outage Impact
India nears a trade deal with the US, while Microsoft's global outage disrupts Indian banking operations.
The picture Mixed How this is judged →
Conditions for business in India are mixed today. Progress in US trade negotiations offers potential tariff benefits, but Microsoft's outage disrupts banking operations, and inflation concerns weigh on market sentiment.
In this briefing Microsoft · Indian banks · BSE Sensex · United States · Government of India
Disruption
Microsoft Outage Disrupts Indian Banking Operations
Microsoft's global outage has significantly impacted Indian banking operations, according to Dainik Jagran. The disruption affected services like Outlook and Teams, causing operational hurdles for banks and other businesses dependent on Microsoft services. The outage affected users in 74 countries, highlighting the reliance on Microsoft's infrastructure for daily operations.
Impact Indian banks and businesses relying on Microsoft services face operational disruptions, affecting customer service and productivity.
Sources: Dainik Jagran ↗
Markets
Sensex Falls Amid Rising Crude Prices, Inflation Fears
Indian benchmark indices fell on Friday, snapping a three-session winning streak, as rising crude oil prices and inflationary concerns weighed on investor sentiment, reports The Economic Times. The BSE Sensex dropped 318.56 points, or 0.39%, closing at 81,592.45. Concerns over a potential rate hike in the upcoming monetary policy review also contributed to the market's decline.
Impact Investors in Indian equities face volatility due to inflation concerns and potential interest rate hikes.
Watch The next monetary policy review will address interest rate changes.
Sources: The Economic Times ↗
Trade
US Assures India of Lower Tariffs in Trade Deal
The United States has assured India of a tariff advantage over rival economies under a proposed bilateral trade deal, according to a government official quoted by India Today. Both countries aim to finalize the first tranche of the agreement by the end of the current financial year. This development follows recent discussions aimed at resolving trade issues, potentially boosting bilateral trade and investment.
Impact Exporters and manufacturers in India are set to benefit from reduced tariffs, enhancing competitiveness in US markets.
Watch The first tranche of the trade deal is expected by the end of the financial year.
Sources: India Today ↗
Nothing significant reported today in Regulation · Internal tension · Safety & health · Companies · Politics.
Also today in the local press
- US flights grounded: Could Thanksgiving be next? — The Economic Times
- FD interest rate up to 8.25%: Check list of banks — The Economic Times
- India-US trade deal nears the finish line — The Economic Times
- India, US have resolved bulk of trade deal issues, pact could be sealed soon: Jaishankar — Times of India
- What happened to US airlines today? Over 15,000 flights cancelled after longest nationwide ground stop in 25 years — The Economic Times
- Ground stop: Trump admin cites ‘overloaded' system — The Economic Times
- FAA flight ground stop disrupts sports travel — The Economic Times
- Airlines issue advisories amid FAA ground stop — The Economic Times
Sources in this briefing
Sources: each headline links to the original article on the publisher's site.