China reclaimed its position as India's largest trading partner in FY26, displacing the United States, as bilateral trade expanded sharply on both sides of the ledger. India's exports to China rose 36.66% to $19.47 billion, while imports climbed 16% to $131.63 billion, pushing the total trade volume to roughly $151 billion. The trade deficit widened to $112.16 billion, underscoring the structural asymmetry in the relationship despite the export surge. The US had held the top trading partner slot in recent years, making China's return a notable reversal driven by import volume rather than balanced exchange. India's heavy reliance on Chinese imports, spanning electronics, chemicals, and machinery, continues to define the gap. The widening deficit will sharpen scrutiny on New Delhi's push to build domestic manufacturing capacity and reduce supply-chain dependence on Beijing. With India-US trade relations also under active negotiation, how New Delhi manages both relationships simultaneously will be a central strategic and commercial question through the next fiscal year.
Venezuela's earthquake death toll has reached 1,430 with the US Geological Survey warning fatalities could top 10,000, placing it among Latin America's deadliest in a century. US military planes are landing in Caracas, Washington is mobilising $150 million in aid, and rescue teams from 17 countries are on the ground.
Iranian armed forces attacked a cargo ship in the Strait of Hormuz on Thursday, briefly halting traffic through the waterway. The strike threatens a fragile US-Iran arrangement and could push shipping insurance costs and oil prices higher.
The US has struck Iran, with President Trump citing an Iranian attack on a ship in the Strait of Hormuz as justification. The action raises immediate risks for global oil flows through one of the world's most critical shipping chokepoints.
The US struck ten Iranian targets on the second consecutive day of military action, putting a fragile ceasefire under serious pressure. The escalation raises immediate risks for Gulf shipping, global oil supply, and regional stability.
