India is among the few nations working actively to reduce its fiscal deficit in the global economy, Finance Minister Nirmala Sitharaman said in Tiruchi on Monday.

Speaking to reporters after attending the platinum jubilee celebrations of her alma mater Seethalakshmi Ramaswami College in Tiruchi, she said the government had been consistently working to bring down the fiscal deficit despite challenges posed by developments such as the COVID-19 pandemic.

“When you study the credit situation of nations in the post-COVID era, our country’s efforts to reduce our debts before and after the pandemic, have borne fruit, as seen in the steady decrease of the fiscal deficit in the past three years. We are confident of achieving the target of reducing national debt to 50% of the gross domestic product by 2030,” she said.

“So when you compare us with foreign countries, Many leading global organisations acknowledge that India is making the most creditworthy efforts to reduce its fiscal deficit. We are also working actively to increase the per capita income of every Indian citizen, but we have had a series of challenges, such as the pandemic, then war [in West Asia] and the soaring rise in fuel prices. We are trying to control the burden of inflation faced by the public,” she added.

Ms. Sitharaman declined to answer questions on Tamil Nadu’s borrowings. “As a Union Minister, it would not be fair for me to comment on the situation of one particular State. However, queries regarding the finances of Tamil Nadu should be raised by the Opposition parties in the Assembly. The matter is of great importance and needs detailed discussion,” she said.

The stabilisation of the Indian rupee’s value depends on a number of factors, she said, adding that: “The Reserve Bank is engaged in efforts to protect the rupee from market volatility.”

‘Democratic way’

Commenting on the protests against the Election Commission of India regarding the Special Intensive Revision (SIR) exercise, Ms. Sitharaman said: “Many complaints have been raised about the SIR in the Supreme Court, and these are being currently heard. One can participate in the hearing and present arguments to seek justice through legal means; many are doing it. Protesting against SIR on the streets is a political way as an Opposition party and that is also happening now.”

Snapping the four-day losing streak, the benchmark Sensex jumped nearly 483 points, and Nifty closed above 22,750 on Monday (October 26, 2026), driven by value buying and a rally in metal, telecommunications, and healthcare shares.

Recovering from early losses, the 30-share BSE Sensex ended 482.92 points, or 0.66%, higher at 73,606.75. During the day, it hit a high of 73,606.75 and a low of 72,514.57, a range of 1,092.18 points.

The 50-share NSE Nifty rallied 153.20 points, or 0.68%, to settle at 22,753.20.

From the 30 Sensex firms, Adani Ports, Eternal, Kotak Mahindra Bank, Trent, Tata Steel, Bharti Airtel, InterGlobe Aviation and ITC were the major winners.

Bajaj Finance, HDFC Bank, Maruti, HCL Tech and Power Grid were the laggards.

Also Read | Indian investors may move to safer bets amid structural challenges: Experts

“Indian equities recovered from early losses, supported by value buying and strength in metals, power and healthcare. However, elevated crude prices, geopolitical uncertainty, and caution ahead of Fed, ECB (European Central Bank), and BoJ (Bank of Japan) policy decisions kept sentiment measured.

“Mid and smallcaps also witnessed some recovery after last week’s sharp correction, although investors remained selective, favouring earnings visibility and valuation comfort,” Vinod Nair, Head of Research, Geojit Investments Limited, said.

Brent crude, the global oil benchmark, declined 1.60% to $114.8 per barrel.

In Asian markets, South Korea’s KOSPI and Japan’s 225 index ended lower, while Shanghai’s SSE Composite index and Hang Seng index settled in positive territory.

Markets in Europe were trading higher. The U.S. markets ended lower on Friday (October 23).

Foreign Institutional Investors (FIIs) bought equities worth ₹887.65 crore on Friday (October 23), according to exchange data.

The Sensex settled at 73,123.83 on Friday, down 125.56 points, or 0.17%. The Nifty dropped 87.65 points, or 0.39%, to close at 22,600.

On October 23, 2025, Pratika Rawal and Smriti Mandhana registered stunning centuries against New Zealand to bring a struggling ODI World Cup campaign back on track in Navi Mumbai.

Exactly a year later, Pratika, with help from a marauding Shafali Verma, raised her bat once more to earn India a crushing nine-wicket win over Zimbabwe in the first ODI at the BCA Stadium here on Friday.

Zimbabwe avoided a collective slow roast under the scorching sun and India’s big-hitting prowess by opting to bat first, but struggled to get going on the red-soil pitch. The home team’s tight lines and smart use of early swing condemned the visitor to a nervy crawl.

The Lady Chevrons managed three partnerships of over 40 runs. Chipo Mugeri-Tiripano and Modester Mupachikwa resisted the host’s charge, after which 17-year-old Beloved Biza took over, making best use of India’s wavering concentration to notch up her fourth ODI fifty.

Also useful for the away side were a few blips in the field and the occasional width given, especially by Deepti Sharma and debutant Jintimani Kalita. N. Shree Charani, however, punctuated any audacity shown with a miserly effort and four wickets to record her best figures in the format.

An enterprising cameo by Michelle Mavunga kept alive Zimbabwe’s dream of a total in excess of 200, only for it to guttingly fall short of that mark by three runs.

Chasing a meagre 198, Smriti and Pratika’s 94-run opening stand reduced Zimbabwe to a herd of deer in the headlights. Olinder Chare dismissed Smriti in the 16th over, but Shafali, batting at No. 3 for only the second time in the format, didn’t disappoint. Her 106-run unbroken partnership with Pratika sealed the contest with 137 balls to spare, getting India off to a winning start in the ICC Championship.

The scores: Zimbabwe 197 in 49.5 overs (Beloved Biza 62, N. Shree Charani 4/23, Kranti Gaud 3/42) lost to India 200/1 in 27.1 overs (Pratika Rawal 100 n.o., Shafali Verma 64 n.o.).

Toss: Zimbabwe; PoM: Pratika.

New Zealand Cricket (NZC), Sky and Virtual Eye have confirmed that ‘Sonic’ technology will be used for the first time as part of the Decision Review System in the India-New Zealand series beginning in Christchurch on Thursday (October 22, 2026).

The addition of the New Zealand-designed edge-detection technology means Virtual Eye, which has been accredited by the ICC for ball-tracking since 2008, will now provide the full suite of DRS technology to assist umpires and enhance the viewing experience during the upcoming three-format tour.

The approval follows an extensive programme of testing, validation and independent assessment conducted in consultation with the ICC and supported by the BCCI.

Sonic uses advanced audio-analysis technology to assist third umpires in reviewing potential bat-ball contact.

NZC Chief Marketing and Commercial Officer Glenn Critchley said the approval reflected a thorough and collaborative process involving all stakeholders.

“The integrity of decision-making is fundamental to the game, which is why such a comprehensive testing and assessment process has been undertaken,” he said in a release.

“The technology has been subject to extensive validation and independent review, and we’re pleased with the outcome of that process. We’d like to thank the ICC, BCCI, Sky and Virtual Eye for their collaboration and commitment throughout.

“It’s also pleasing to see New Zealand innovation contributing to the game at the highest level and helping deliver an enhanced experience for players, officials and fans.”

Ben Taylor, Chief Executive Officer of Virtual Eye, said the milestone represented years of research, development and testing by the New Zealand company.

“Our team has worked tirelessly developing and refining this technology, with a strong focus on accuracy, consistency and meeting the standards expected at the highest level of international sport.

“To see New Zealand-developed technology approved for use in a major international cricket series is a significant moment for Virtual Eye and another example of Kiwi innovation succeeding on the world stage.”

Gary Burchett, Sky’s Head of Sport Content, said the approval was an exciting development ahead of a landmark summer of international cricket.

“Sky is committed to delivering world-class cricket coverage for New Zealand fans and supporting innovation that enhances the game and the viewing experience.

“This outcome reflects the significant work that has gone into testing and assessing the technology, and we’re looking forward to seeing it in action during what promises to be a fantastic summer of cricket.”

The approval applies to the upcoming India series in New Zealand, with any future use of the technology remaining subject to the ICC’s ongoing accreditation and approval processes.

India will play five T20 internationals against New Zealand, followed by five ODIs from November 4 to 15. The tour will conclude with two Tests from November 19 to December 1.

Indian garment exports have the potential for a 25% increase next year and will better performance in the three major markets – USA, UK, and the European Union.

Prabhu Dhamodharan, convenor of the Indian Texpreneurs Federation (ITF), said in a press release that garment exporters are exploring new opportunities under the India–UK trade agreement, including setting up offices and design studios in London. Encouraging buyer responses will translate into higher orders from January. With regard to the European Union, implementation of the India–EU trade agreement next financial year will drive double-digit apparel export growth.

In the American market, with tariff concerns easing, India has an opportunity to regain the recently lost 2% market share within the coming quarter. A limited India–U.S. trade agreement, if finalised, will eventually help raise India’s traditional market share from 6% to 8%.

“With greater stability expected across these three major markets, we anticipate India’s monthly apparel exports rising from $1.2 billion to $1.5 billion in 2027 — a 25% increase. Indian exporters are simultaneously strengthening global competitiveness through technology, automation, and productivity improvements, positioning the industry for renewed export growth,” he said.

Total purchase of readymade garments by the U.S. declined 7.42% to $ 49.1 billion during January–August 2026. However, August recorded marginal growth of 0.46%, indicating early signs of market recovery. India’s apparel exports to the U.S. fell sharply by 26.4% to $ 2.7 billion, compared with 29.4% decline for China, 4.4% for Bangladesh and 0.8% for Vietnam. However, Cambodia grew 6.9% and Indonesia 2.6%, reflecting intense competition.

India’s traditional 6% U.S. market share dropped to 4% in August. Uncertainty over additional U.S. tariffs linked to Russian oil purchases had delayed orders from American buyers. Despite relatively stable volumes in other markets, India’s overall apparel exports declined around 7% during the first half of the current financial year. The recent indication that additional Russia-related tariffs will not be imposed for now has improved confidence among Indian exporters, he added.

Former India head coach Ravi Shastri believes Bhuvneshwar Kumar’s experience makes his return to the T20I squad a straightforward selection call, while describing India’s tour of New Zealand as a crucial examination of the team’s direction across formats.

“There is no substitute for experience. It’s not bought or sold in the market, so when you have experience with that kind of quality, it’s a no-brainer,” Shastri said of Bhuvneshwar, who has returned to the Indian T20I set-up after a four-year hiatus.

The 36-year-old’s recall follows impressive performances for Royal Challengers Bengaluru in the IPL, where he played a key role in the franchise’s consecutive title triumphs. “With the kind of form he showed in the IPL and the years he’s been around India, he’ll be ideal for New Zealand conditions, or for that matter, any conditions,” Shastri said.

India will play five T20Is and five ODIs alongside two Tests during the tour. While the longest format carries significant weight in the World Test Championship race, Shastri cautioned against viewing the other legs in isolation.

“The Test series is important. The emphasis now will be on the one-day game as well as T20. The whole tour of New Zealand is an important tour,” he said. “The full one and a half month is going to be critical because it will tell you where Indian cricket is going in the future. Conditions in New Zealand might be a little similar to what you might encounter in South Africa.”

Shastri also identified the tour as a significant challenge for ODI and Test captain Shubman Gill, despite the batter’s familiarity with New Zealand conditions.

“He is in prime form. He has always done well in New Zealand right from a young age. But for a young captain travelling there overseas, it will be a challenge,” he said.

On Rohit Sharma’s preparations for the 2027 ODI World Cup, Shastri advocated continuity rather than reinvention.

“He doesn’t have to change for anybody in the world. He has been getting runs. There’s very little he has to change, and if there’s anything to be changed, he will know it better than anybody else,” he said.

(Watch India’s tour of New Zealand live and exclusive on Sony Sports Network and Sony LIV from October 22.)

If there is one thing R. Ashwin knows all too well, it is the challenge of finding a place in the XI overseas, where conditions favour fast bowlers.

Having played in just one Test across two tours of New Zealand, India’s second-highest wicket-taker in the format is no stranger to that predicament. As the Men in Blue prepare for another tour, Ashwin believes Kuldeep Yadav could face a similar selection dilemma in the T20Is, with Varun Chakaravarthy likely to be preferred again.

The 40-year-old feels the left-arm wrist spinner has been “treated unfairly” by the current think-tank. “Kuldeep hasn’t been the go-to man ever since this management has come to picking squads, and I think it’s quite unfortunate,” Ashwin said during a virtual media interaction.

Referring to Kuldeep’s exploits in India’s recent series against the West Indies, he said: “With so much dew, and when you know the conditions are against the bowler, to pin it upon one bowler who’s produced results over the years is really unfair.”

While Varun is returning from injury and is yet to regain his best form and fitness, Ashwin expects him to be the preferred one. “I think Varun will get the nod ahead of Kuldeep once again,” he said.

“It’ll be interesting to watch how he comes back from his injury, and side strains aren’t easy for a spinner. I wish him the best and I hope both of them get opportunities to explore their skill in that part of the world,” he added.

For Kuldeep, however, the challenge may not be so much about adapting to New Zealand conditions as getting the opportunity to bowl in them.

On India’s batting approach, Ashwin opined the Black Caps could challenge the visitors by preparing more demanding surfaces.

“If I were New Zealand, I would give slightly challenging pitches to India. But unfortunately, I am not,” he said, adding that he expects the white-ball leg to be high-scoring.

(Watch India’s tour of New Zealand live and exclusive on Sony Sports and LIV starting October 22).

In the ongoing white-ball series, West Indies has chased down 352 in an ODI and 250 in a T20I to set alarm bells ringing. But India bowling coach Morne Morkel defended his bowlers.

“It’s tough to operate in these conditions,” Morkel said on Friday, ahead of the T20I series decider here. “It’s tricky, especially when there’s a lot of dew around, and especially with the way the West Indies take the game on. In the past, you would say, ‘Ok, that will give opportunities to take wickets’. But mistimed shots still go for sixes. We can just make sure every ball is the best ball we bowl.”

In both the matches, West Indies skipper Shai Hope was the star, scoring unbeaten centuries. “It is a real test to bowl to him, but one that we really enjoy,” said Morkel.

“We would always like to take the aggressive option — how to get the batter out? If we can bring the stumps in play, try using the short ball to him, and play around with the lengths… What we have not been good at is that we have changed things too quickly at times. We have to see if it was about execution or a good shot. But you can have all the plans in modern cricket, and players still adapt quite quickly.”

The burly South African also pointed to the unforgiving schedule. “Mental fatigue also plays a big part. This T20 side came back from the Asian Games, and is straight into a full series now. It had to fly to Delhi for the presentation [from the Prime Minister] and then arrive at 1 a.m. here for this must-win game.

“We’re going to fly to New Zealand and there is going to be jet-lag before a jam-packed schedule. So I’ve got a lot of respect for the performances we are producing. That’s why I sometimes think we can allow them to make a mistake and not be at them always.”

The Asian Development Bank (ADB) and the Government of Japan have signed financing agreements with AM Green Ammonia (India) to help build one of the world’s largest plants to make ammonia using renewable energy in India.

The investment includes a $100 million loan from the leading Asia’s Private Infrastructure Fund 2, financed by the Japan International Cooperation Agency (JICA) and administered by ADB.

It will be the first investment under the Action for Creating Energy Security for Long-term Resilience (ACCEL), which was launched in May by ADB and Japan to help countries and businesses in Asia and the Pacific manage rising energy prices and build stronger energy systems for the future.

The project, of AM Green, will convert a former ammonia and urea plant from natural gas fuelled production to renewable-powered green ammonia, with capacity to produce about 1.1 million tonnes per year — supporting a new export industry in India and cleaner production of an ingredient essential to fertiliser and industry, the ADB said.

“Ammonia is used every day to produce fertiliser. This project changes how we make it. By using renewable energy instead of fossil fuels, India can produce it with far lower emissions and at a scale that can help reshape this industry,” ADB President Masato Kanda said.

As the first investment under ACCEL, it also shows how ADB and Japan can turn energy security into practical investments in new markets and jobs, he said.

“Strengthening resilience of Asia’s energy supply chains is essential. Japan is advancing POWERR Asia, including through ACCEL and I welcome the first joint project under ACCEL,” Japan’s Finance Minister Satsuki Katayama said.

ACCEL initiative works on two tracks – first, supporting corporate liquidity in the short term, particularly for small and medium-sized enterprises; and second, supporting a transition toward more diversified and sustainable energy systems in the medium to long term. Japan supports ACCEL through its Japan-financed and ADB-administered trust funds and through collaboration with Japanese development finance institutions, including JICA and the Japan Bank for International Cooperation (JBIC), to maximise development impact.

Union Finance Minister Nirmala Sitharaman on Friday (October 16, 2026) expressed hope that the India-U.S. trade agreement would be concluded at the earliest, in the interest of global trade and bilateral economic ties between the two countries.

“I think recently the Indian Commerce Minister has also spoken that they expect and wish to have the agreement signed soon. Negotiations have been going on. I hope, in the interest of global trade and in the interest of trade between the two partners, India and U.S., the trade agreement gets concluded at the earliest,” she said.

Commerce and Industry Minister Piyush Goyal on Thursday (October 15, 2026) said the first phase of the India-U.S. trade pact has been finalised and is undergoing legal drafting.

On trade with China, Ms. Sitharaman said the growing trade imbalance and persistent restrictions on market access for Indian products remained major concerns, despite years of engagement with Beijing.

India has consistently sought market access in China for products such as generic medicines, bovine meat, vegetables and other perishable goods, but made little progress despite years of engagement, Sitharaman said in an interaction with the Atlantic Council on the sidelines of the IMF-World Bank annual meetings in Bangkok, Thailand.

“Non-tariff barriers are the biggest hurdle in the trade between India and China,” she said, adding that China had used phytosanitary measures and other non-tariff restrictions despite the potential for discussions and investigations to resolve such issues.

She said India had not adopted the approach of imposing punitive tariffs on trading partners to correct large trade imbalances, preferring instead to pursue negotiations, even if the process was time-consuming.

On BRICS, Ms. Sitharaman said the grouping should be viewed as a partnership aimed at improving the welfare of its people rather than as a platform to counter any country or bloc.

“I don’t think BRICS’s intention is to counter others. It is more to strengthen the partnership through the BRICS,” she added.

She noted that BRICS represented nearly 40 per cent of the world’s population and said cooperation among its member countries could improve trade, foster mutual understanding and expand economic opportunities.

With new members joining the grouping, 11 to 12 countries were actively engaging with one another, collectively accounting for around 45% of global trade, she said.

On India’s economic growth, Ms. Sitharaman said the country has sustained strong growth despite global disruptions and has been the world’s fastest-growing major economy over the past four to five years, particularly after COVID-19 pandemic.

She attributed India’s performance to inclusive growth, wider access to resources and skill development for young people, fiscal prudence and higher public capital expenditure.

The Finance Minister said public investment in infrastructure had generated a stronger multiplier effect than directly transferring equivalent amounts of money to people, while also creating employment and supporting economic activity.

Public spending on infrastructure helped channel money to people through economic activity without putting the same pressure on the fiscal deficit as some alternative forms of expenditure, she said.

Ms. Sitharaman added that government borrowing was broadly aligned with infrastructure expenditure, arguing that debt-financed asset creation was benefiting the economy.

“Borrowing goes for asset creation, and as a result, the economy has benefited,” she said.