China

India’s cement industry has reached a historic inflection point as UltraTech Cement surpasses 200 million tonnes per annum (MTPA) in installed capacity following the commissioning of three new plants. The achievement positions the Aditya Birla Group flagship as the largest cement producer outside China and underscores India’s growing industrial might. Chairman Kumar Mangalam Birla described the milestone as unprecedented, highlighting its scale relative to global markets, including the United States and the European Union.

A Landmark Expansion in Industrial Capacity

China has emerged as India’s largest trading partner in FY26, overtaking the United States after four consecutive years of American dominance. Bilateral trade between India and China reached Rs. 12.5 lakh crore (USD 151.1 billion), driven by strong import growth and a notable rise in exports. However, the surge has been accompanied by a widening trade deficit, which expanded to a record Rs. 9.3 lakh crore (USD 112.16 billion). The shift underscores deepening economic interdependence while raising strategic concerns over trade imbalances and supply chain dependencies.

India’s imports of telecom instruments from China rose sharply to USD 6,371 million (Rs 59,500 crore) in the 2023-24 fiscal year, reflecting sustained demand for network infrastructure and consumer devices. Overall telecom imports also increased to USD 17,010 million from USD 13,333 million in 2019-20, signaling robust sector growth. While the rise underscores India’s dependence on Chinese technology, the government has simultaneously launched initiatives to strengthen domestic telecom manufacturing and reduce import reliance.

A significant tightening of US immigration policies in 2025 has led to a notable decline in visa approvals, with India and China bearing the brunt of the reduction. Data indicates that approximately 2.5 lakh fewer visas were issued in the first eight months of the year compared to the same period in 2024. The decline, driven largely by reduced approvals for students and skilled workers, signals a shift in US immigration priorities.

China has raised domestic fuel prices in response to rising global oil costs and mounting geopolitical uncertainty linked to potential prolonged conflict in the Middle East. The price adjustment, implemented by the country’s top economic planner, reflects a strategic effort to manage supply risks, stabilize domestic markets, and cushion economic disruption. 

Zydus Lifesciences has achieved a significant regulatory milestone after securing approval in China for its innovative drug Desidustat, developed to treat renal anemia associated with chronic kidney disease (CKD). The authorization from China’s National Medical Products Administration (NMPA) allows the oral medication to be introduced in one of the world’s largest pharmaceutical markets. The drug will be commercialized through an exclusive licensing partnership with CMS International Development and Management Ltd, a subsidiary of China Medical System Holdings Ltd.