Core Insights - India has evolved its approach to free trade agreements (FTAs), moving from a cautious stance to a more flexible and confident negotiation strategy, particularly in sensitive sectors like agriculture and manufacturing [1][7][10] Trade Agreements and Concessions - The initial duty concessions under early FTAs led to increased imports by companies like Honda and Sony, raising concerns about the impact on domestic manufacturing [1] - The government has been careful in its tariff policies, particularly avoiding cuts in sensitive sectors such as wine, spirits, and automobiles to protect local industries [2][12] - A notable shift occurred with the interim trade agreement with Australia in 2022, where India showed willingness to lower tariffs on wine above a certain price threshold while providing technical support to domestic producers [3][12] - Subsequent agreements expanded the scope of concessions, including products like chocolates and watches in the pact with the European Free Trade Association (EFTA), which also included a commitment of $100 billion in foreign direct investment [6][12] - By the time of the agreement with the European Union, the list of protected items had significantly decreased, with negotiators more open to trade-offs, reflecting increased confidence [7][12] Specific Trade Conditions - Tariff cuts on French and Spanish wines were exchanged for limited access to European markets for Indian grapes, with strict conditions on imports of pears and apples, including volume caps and a minimum import price [8][12] - The government tailored concessions based on market opportunities, declining duty concessions for British electric vehicles but allowing limited imports under the EU deal [9][12] Engagement on New Issues - India's evolving approach includes engagement on "new issues" in modern FTAs, such as intellectual property rights, digital trade, and environmental concerns, while ensuring these do not exceed existing international obligations [10][12]

Core Insights - The industry is experiencing a surge in bookings and sales following a month-long slump, attributed to the implementation of GST rate cuts and pent-up consumer demand during the festive season [1][12] - Major companies, including Hyundai, Sony, and Haier, are preparing for significant sales increases, with Hyundai expected to bill over 10,000 vehicles to dealers on a single day [2][6] - Fast-moving consumer goods companies like Amul and Parle Products anticipate a 25-30% increase in primary sales as retailers replenish their stocks [7][11] Automotive Sector - Hyundai is projected to achieve a new high in single-day vehicle billing, with bookings increasing by over 50% following the announcement of new GST rates [5][12] - The total wholesale billing value for car manufacturers is estimated to be between Rs 4,500-5,000 crore on the upcoming Monday [6][12] - Honda Cars India reports strong growth in bookings, indicating a positive momentum in the automotive market [9][13] Electronics Sector - Companies like Sony and Haier are confirming high sales figures, with Haier expecting over Rs 250 crore in sales on the same day [6][12] - Sony anticipates a surge in consumer demand by over 20%, following a period of flat sales [9][13] - Television brands such as Thomson and Kodak are also experiencing peak sales, surpassing previous records set after the Covid lockdowns [6][12] Fast-Moving Consumer Goods (FMCG) - FMCG companies are expecting a significant increase in primary sales, with Parle Products indicating a dry trade pipeline that will lead to a surge of 25-30% in sales [7][12] - Dairy brand Amul notes that while basic necessities are being purchased, there is a shift towards higher-value items like ghee, which are now more affordable due to price adjustments [11][12] - Companies are preparing for increased stocking of large packs and premium items in response to consumer demand [10][13]