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-116.67
-49.85
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-3,958.00
Updated - March 17, 2026 at 08:00 AM.
From trade deficits and LPG supply challenges to Bajaj Auto’s EV investment shifts and PhonePe’s IPO pause— here are today’s top business and economic developments you need to know.
India’s goods exports slip 0.8% to $36.61 billion in Feb amid continued global turmoil
India’s goods exports fell 0.81% year-on-year in February 2026 to $36.61 billion, amid global uncertainties. Imports rose 24.11% to $63.71 billion, widening the trade deficit to $27.1 billion, though it was lower than $34.68 billion in January. The government expects greater challenges in March due to the West Asia crisis and logistical issues, but aims to offset losses by expanding exports to other markets. A support package for exporters is expected soon.
During April–February 2025–26, exports reached $402.93 billion, up 1.84%, while imports rose 8.53% to $713.53 billion. The February export dip was mainly due to lower petroleum shipment values, while the higher trade deficit was driven by increased gold and silver imports.
By Amiti Sen
India negotiating with Iran to move six LPG tankers through Hormuz
India is negotiating with Iran to secure safe passage for six LPG tankers carrying 270,000 tonnes of cooking gas through the Strait of Hormuz, amid a severe LPG shortage. India imports about 90% of its LPG from the Middle East, and disruptions in the strait have affected supply. Earlier, India secured transit for two LPG tankers carrying 92,000 tonnes, enough for about a day’s demand. Currently, 22 India-flagged ships remain stranded in the Persian Gulf, including LPG, crude oil and LNG vessels, as the government continues diplomatic efforts to ensure safe transit and protect energy supplies.
By Bloomberg
Bajaj Auto considers shifting EV manufacturing away from Maharashtra amid subsidy dispute
Bajaj Auto is considering moving part of its EV manufacturing and future investments out of Maharashtra due to a dispute over ₹75 crore in unpaid subsidies and restrictions on new auto-rickshaw permits.The company, which has already invested ₹750 crore in its Pune EV facility, may expand EV production at its Pantnagar plant in Uttarakhand or other states offering better policy support. Meanwhile, Karnataka and Tamil Nadu have approached Bajaj Auto to attract its future EV investments.
By Amit Vijay Mohile
PhonePe temporarily defers IPO plans amid geopolitical tensions
Walmart-backed PhonePe has temporarily deferred its IPO plans due to geopolitical tensions and volatility in global markets, according to CEO Sameer Nigam. The company had earlier received approval from the Securities and Exchange Board of India for an IPO expected to raise about $1.3 billion. PhonePe holds around 45% share of transactions on the Unified Payments Interface network, ahead of Google Pay.
By Jyoti Banthia
Script & VO: Prethicshaa Gurumoorthy
Published on March 17, 2026
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