eznews.inThe United States remains the largest market for Indian gems and jewellery, with annual exports exceeding $10 billion. A recent reduction in US tariffs from 50% to 18% is expected to provide significant relief to exporters grappling with declining demand due to soaring gold prices. Colin Shah, Managing Director of Kama Jewelry, hailed the tariff cut as a positive development for the sector, which has faced challenges amid tariff-related uncertainties. Exports to the US have plummeted by 44% in the first nine months of the fiscal year, dropping to $3.86 billion from $6.95 billion in the same period last year. Overall, gem and jewellery exports remained stagnant year-on-year at $20.75 billion. With nearly 32% of the sector's exports directed to the US, the tariff reduction is anticipated to restore confidence among Indian manufacturers and American buyers alike, enhancing competitiveness against Asian rivals. 
Published: Feb 03 2026, 11 ameznews.inIn a significant trade agreement announced on February 3, 2026, US President Donald Trump and Indian Prime Minister Narendra Modi pledged to enhance agricultural exports from the US to India, aiming to reduce trade barriers and bolster economic ties. The deal, which lowers reciprocal tariffs from 25% to 18%, is seen as a strategic move to counter Russian aggression amid the ongoing war in Ukraine. US officials, including Senate Foreign Relations Committee Chairman Jim Risch and Secretary of Agriculture Brooke Rollins, hailed the agreement as a victory for American farmers and a step towards reducing a $1.3 billion agricultural trade deficit with India. Modi expressed gratitude for the deal, emphasizing the mutual benefits of cooperation between the two nations. The agreement also includes India's commitment to cease purchasing Russian oil, further aligning with US efforts to diminish support for Russia's military actions.
Published: Feb 03 2026, 11 ameznews.inThe United States is set to host the inaugural Critical Minerals Ministerial at the State Department, convened by Marco Rubio, with delegations from over 50 countries attending to enhance cooperation on critical mineral supply chains. External Affairs Minister S. Jaishankar will participate, following a one-on-one meeting with Rubio. The three-day event aims to strengthen strategic supply lines for minerals crucial to technological innovation, economic competitiveness, and national security. This ministerial occurs amid heightened India-US engagement, including a recent trade deal announced by President Trump, which reduces tariffs on Indian goods and encourages India to purchase more American products. Jaishankar's visit will also include discussions on clean energy transitions and strategic cooperation in critical minerals, reflecting the growing collaboration between the two nations in trade, energy, and defense sectors. The US State Department emphasizes the importance of these partnerships for economic and national security.
Published: Feb 03 2026, 11 ameznews.inIn a significant boost for Jammu and Kashmir, Union Railway Minister Ashwini Vaishnaw announced an allocation of approximately ₹1,086 crore in the rail budget, aimed at enhancing rail connectivity in the region. During a virtual press conference, Vaishnaw highlighted the importance of the Vande Bharat Sleeper Express, which has improved access, especially during winter when road links are often disrupted. The minister noted that the semi-high-speed trains also promote local culture by serving regional cuisines, such as Dogri and Kashmiri dishes. Efforts are underway to bolster rail infrastructure, including a project from Baramulla to Uri, while the Jammu–Rajouri rail project is progressing. However, proposals for additional rail lines along the Baramulla–Srinagar route have been paused due to concerns over potential damage to apple orchards. The Railways aims to position rail connectivity as a key driver of development, tourism, and employment in the region.
Published: Feb 03 2026, 10 ameznews.inFinance Minister Nirmala Sitharaman has hailed the United States' decision to reduce tariffs on Indian goods to 18% as a significant boost for the 'Made in India' initiative. In a post on social media platform X, she expressed gratitude to Prime Minister Narendra Modi and US President Donald Trump for the development, which follows a high-level conversation between the two leaders. Modi echoed her sentiments, emphasizing that the reduced tariffs would benefit both nations and unlock opportunities for cooperation. In a reciprocal agreement, India has pledged to lower trade barriers for American products, committing to increase imports across various sectors, including energy and technology. President Trump confirmed the deal, stating that India would work towards eliminating tariffs and non-tariff barriers against US goods, while also agreeing to purchase over $500 billion in American products. This trade agreement marks a significant step in strengthening economic ties between the two countries.
Published: Feb 03 2026, 10 ameznews.inThe Indian Railways has significantly boosted its investment in Assam and the Northeastern states, allocating ₹11,486 crore, a fivefold increase since 2014, to enhance rail connectivity in the region. Currently, ₹72,468 crore worth of railway projects are underway, with ongoing surveys for new lines, including a planned connection to Bhutan. Recent developments include the launch of India's first Vande Bharat Sleeper train services on the Kamakhya-Howrah route and the introduction of Assam's first Amrit Bharat Express services. The expansion has seen approximately 1,900 km of new tracks laid, with five Northeastern states fully electrified and Assam achieving 98% electrification. Additionally, 502 flyovers and underpasses have been constructed, and the Kavach safety system is being implemented across 1,197 km. These initiatives aim to improve both regional and international connectivity, marking a significant infrastructure advancement for the Northeast.
Published: Feb 03 2026, 10 ameznews.inIndia's palm oil imports surged to 766,000 metric tonnes in January, marking a 51% increase from December and the highest level since October 2025, according to dealer estimates. This rise is attributed to palm oil's significant discount to soyoil, prompting refiners to boost purchases while reducing soyoil imports to a 19-month low of 280,000 tonnes. Overall, India's edible oil imports fell 3.5% to 1.32 million tonnes, driven by declines in soyoil and sunflower oil imports. The increase in palm oil imports is expected to alleviate inventories in major producing countries, Indonesia and Malaysia, potentially supporting Malaysian palm oil futures while exerting pressure on U.S. soyoil futures. Analysts predict further growth in palm oil imports for February, as demand for soyoil and sunflower oil remains subdued. The Solvent Extractors’ Association of India is set to release detailed import data by mid-February.
Published: Feb 03 2026, 10 ameznews.inThe US-India Strategic Partnership Forum (USISPF) has expressed strong support for the recently announced trade deal between the United States and India, highlighting its potential to benefit businesses, workers, and consumers in both nations. Following a conversation between President Donald Trump and Prime Minister Narendra Modi, the USISPF noted the reduction of India's reciprocal tariff from 25% to 18% as a significant initial step towards a comprehensive Bilateral Trade Agreement (BTA). This agreement aims to tackle tariffs, market access, and non-tariff barriers across various sectors, thereby strengthening supply chains and enhancing economic resilience. The forum emphasized that this announcement marks the beginning of further negotiations, with both governments committed to expanding bilateral trade towards a target of USD 500 billion. The USISPF remains optimistic about the agreement's potential to foster a stable and rules-based Indo-Pacific region.
Published: Feb 03 2026, 8 ameznews.inThe Indian textile and leather industry received a significant boost following the announcement of a reduced US tariff on Indian goods, slashing it from 50% to 18%. This trade deal, revealed by US President Donald Trump, is contingent on India ceasing its Russian oil purchases and lowering trade barriers. The Confederation of Indian Textile Industry (CITI) Chairman, Ashwin Chandran, emphasized that this reduction will enhance the competitiveness of Indian textile and apparel exporters in the US market, which is crucial for job creation and factory operations. With expectations of month-on-month double-digit growth in apparel and home textile exports from FY 2026-27, the monthly export run rate is projected to rise to approximately $1.5 to $1.6 billion, up from $1.27 billion. Industry leaders stress the need for resilience and competitiveness to sustain this growth trajectory in the coming decade.
Published: Feb 03 2026, 9 ameznews.inIn a significant development for bilateral trade, Union Commerce and Industry Minister Piyush Goyal announced that a new India-US trade agreement will reduce tariffs on Indian goods from 25% to 18%. This landmark deal, hailed by Goyal as a catalyst for opportunities for domestic farmers, MSMEs, and skilled workers, aims to bolster the Make in India initiative and enhance technological collaboration between the two nations. The agreement is particularly crucial for labour-intensive sectors like textiles and apparel, which have faced challenges due to high tariffs. Commerce Secretary Rajesh Agrawal echoed Goyal's sentiments, emphasizing the potential for shared prosperity and innovation. Despite a recent decline in India's merchandise exports to the US, the deal is expected to revive demand and competitiveness, with market analysts noting a positive impact on equities and the rupee. Exporters are now awaiting further clarity on the specifics of the agreement.
Published: Feb 03 2026, 9 am
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