eznews.inIn New Delhi on February 10, 2026, Secretary (West) of the Ministry of External Affairs, Sibi George, engaged in the 11th round of India-Hungary Foreign Office Consultations with Hungarian State Secretary Boglárka Illés. The discussions encompassed a wide range of topics, including political affairs, trade, investment, defence, science and technology, green energy, and cultural ties, while also addressing regional and global issues of mutual interest, particularly concerning Europe and the Indo-Pacific. The consultations highlighted the longstanding and multifaceted relationship between India and Hungary, which has endured various political and economic changes. Notably, Hungary appreciates India's historical support during the 1956 uprising. The two nations have established frameworks for economic cooperation, including the Indo-Hungary Joint Committee and a Joint Business Council, fostering direct business interactions since 1979. The previous round of consultations took place in Budapest in January 2021. 
Published: Feb 11 2026, 9 ameznews.inCommerce Secretary Rajesh Agrawal has highlighted India's growing organic ecosystem during the country's participation as the Country of the Year at BIOFACH 2026, the premier global exhibition for organic products. Speaking to ANI, Agrawal noted the event's significance in enhancing India's supply chain connections with the European Union and beyond, following the recent conclusion of EU-India Free Trade Agreement negotiations. He underscored the importance of showcasing India's Geographical Indication (GI) products to build international buyer confidence, stating that exposure to these high-quality offerings would foster stronger business relationships and boost exports. With over 100 countries represented, Agrawal expressed optimism that the exhibition would accelerate Indian organic exports and strengthen the domestic sector. This year, India's pavilion, organized by the Agricultural and Processed Food Products Export Development Authority (APEDA), features 67 co-exhibitors and a diverse range of organic products from more than 20 states and union territories.
Published: Feb 11 2026, 9 ameznews.inThe White House has revised its factsheet on the India-US trade framework, softening key assertions regarding India's commitments on purchases, tariffs, and digital trade. This update follows the announcement of an interim reciprocal trade agreement aimed at enhancing bilateral commerce, finalized after a conversation between Prime Minister Narendra Modi and US President Donald Trump. The original document claimed India would "commit" to purchasing over USD 500 billion in American products, but the revised version states India "intends" to buy more, omitting "agricultural" products from the list. Additionally, references to eliminating tariffs on certain goods and removing digital services taxes have been toned down. Under the proposed arrangement, the US will reduce tariffs on Indian goods from 50% to 18%, while Trump has lifted 25% tariffs on India related to Russian oil, citing India's commitment to cease such imports.
Published: Feb 11 2026, 9 ameznews.inIndia will persist in importing crude oil from nations that provide the best quality at the lowest prices, factoring in geopolitical dynamics and non-sanctioned sources, officials informed a parliamentary panel. During a three-hour meeting led by Congress leader Shashi Tharoor, representatives from the ministries of External Affairs and Commerce detailed India's approach to oil procurement, emphasizing the importance of geopolitical considerations. The discussions also encompassed the ongoing India-US trade deal and the India-EU Free Trade Agreement (FTA), with officials indicating that an interim agreement with the US is expected to be finalized by mid-next month. Tharoor noted that while the US will impose an 18% tariff on Indian products, this is a reduction from the previous 50%. The panel also plans to revisit discussions on India-Bangladesh relations following upcoming elections in Bangladesh.
Published: Feb 11 2026, 9 ameznews.inThe Indian government is poised to release retail inflation data for January, utilizing a new base year of 2024, with expectations that headline inflation will surpass 2% but remain below 3%. The previous December figure, based on the 2012 series, stood at 1.33% and is likely to be revised upward. A recent report from the Statistics Ministry has led to a reduction in the weight of volatile food and beverages in the Consumer Price Index (CPI), from 45.9% to 36.8%, which may result in less volatility in inflation figures. The updated CPI will include 358 weighted items, up from 299, reflecting changes in consumer behavior and economic structure, with new categories such as rural house rent, online media, and modern energy sources. Prices will be collected from a broader range of markets, including e-commerce platforms, enhancing the accuracy of inflation measurement.
Published: Feb 11 2026, 9 ameznews.inThe United States has intensified its demands on India regarding digital and energy policies as the two nations approach a bilateral trade agreement. A recent White House fact sheet highlighted India's commitment to eliminate digital services taxes and negotiate rules to prohibit customs duties on electronic transmissions, raising concerns among experts about potential threats to India's sovereignty in digital trade. Analysts warn that agreeing to a permanent ban on such duties could disadvantage domestic industries, particularly as e-services increasingly dominate economic activities. Additionally, the fact sheet reiterated expectations for India to cease purchasing Russian oil, linking this to the recent rollback of tariffs on Indian goods. Experts caution that India must safeguard its regulatory autonomy and data sovereignty, drawing parallels with US-led agreements that impose restrictive measures on countries like Cambodia and Malaysia. The negotiations will cover various trade barriers, including tariffs, services, and intellectual property rights.
Published: Feb 10 2026, 8 pmeznews.inThe United States has signed a new trade agreement with Bangladesh, reducing reciprocal tariffs from 20% to 19%, which diminishes India's competitive edge in the American market. This deal particularly impacts Indian textile and garment exporters, as it allows Bangladeshi garments to enter the U.S. at zero duty, contingent on using U.S.-sourced cotton. Ashwin Chandran from the Confederation of Indian Textile Industry (CITI) highlighted that the tariff gap between India and Bangladesh has narrowed from 2% to 1%, posing a significant challenge for Indian exporters, who rely heavily on the U.S. market. Experts caution that India's perceived tariff advantage may quickly evaporate, as the U.S. has also reduced tariffs for other competitors like Indonesia and Vietnam. Abhijit Das, a trade expert, emphasized the need for India to reassess its reliance on tariff reductions in a rapidly changing trade landscape.
Published: Feb 10 2026, 9 pmeznews.inIn a significant enhancement for commuters, the National Payments Corporation of India (NPCI), in partnership with Maha Metro and HDFC Bank, has launched the acceptance of RuPay On-The-Go (OTG) cards across the Pune Metro network. This initiative allows passengers to use their existing RuPay OTG cards for seamless, contactless travel at all operational metro stations, thereby simplifying the fare payment process. Previously, Pune Metro offered paper tickets, mobile QR tickets, and HDFC Bank's One Pune NCMC RuPay cards. The introduction of open-loop RuPay OTG acceptance not only streamlines payment options but also supports interoperability with other public transport systems, including buses and additional metro networks. Furthermore, the cards feature offline payment capabilities, ensuring uninterrupted travel even in areas with limited connectivity. This move is designed to enhance commuter convenience and promote a unified digital ticketing experience.
Published: Feb 10 2026, 9 pmeznews.inThe Indian Dairy Association (IDA) defended the government's stance on the Indo-US trade agreement amid opposition criticism, asserting that India's dairy sector remains protected. IDA President Sudhir Kumar Singh emphasized that imports of dried distillers’ grains (DDGs) would be minimal, constituting just 1% of domestic needs. India, currently the world's largest milk producer, contributes 25% of global milk production, projected to rise to 45% by 2047, with total production estimated at 247.87 million tonnes for 2024-25. Singh highlighted the government's focus on enhancing milk production through advanced technologies like In-Vitro Fertilization and Sex Sorted Semen. The IDA is set to host its 52nd Dairy Industry Conference in New Delhi from February 12-14, expecting over 3,000 participants, including farmers and industry stakeholders, to explore business opportunities and innovations in the rapidly growing dairy sector.
Published: Feb 10 2026, 9 pmeznews.inThe tractor industry in India kicked off 2026 with impressive growth, reporting a 45% year-on-year increase in sales for January, driven by both domestic and export markets, according to the Tractor and Mechanization Association. Domestic sales surged by 28%, bolstered by a reduction in GST, favorable monsoon conditions, and the introduction of the Sub-Mission on Agricultural Mechanization (SMAM) subsidy in Maharashtra. Exports also saw a healthy 17% rise, fueled by strong demand from Africa and Latin America. Industry experts noted that improved rural liquidity and higher minimum support prices (MSP) contributed to this momentum, particularly in the 40-50 HP tractor segment. With ongoing government support and positive rural sentiment, stakeholders anticipate sustained growth in the coming months, as favorable conditions continue to enhance farm mechanization and agricultural productivity.
Published: Feb 10 2026, 9 pm
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