eznews.inUnion Minister Piyush Goyal announced on Friday that he anticipates the signing of an interim trade deal between India and the US in March, with implementation expected by April. Indian exporters are awaiting a reduction in reciprocal tariffs from 25% to 18%, a move US officials indicated would occur before the deal's finalization. Goyal confirmed that this tariff reduction is likely to happen in February. The US has already rolled back some punitive tariffs linked to Russian oil purchases. India's chief negotiator, Darpan Jain, is set to meet with US officials on February 23 to finalize the agreement's legal text. Goyal criticized opposition leader Rahul Gandhi for questioning India's commitment to a $100 billion annual trade target without a similar pledge from the US. The interim deal is expected to benefit Indian exporters, particularly in labor-intensive sectors, while also addressing concerns from some farmer groups regarding agricultural commitments. 
Published: Feb 20 2026, 7 pmeznews.inIndia has officially joined the Pax Silica initiative, a strategic partnership aimed at securing resilient supply chains for semiconductors, artificial intelligence, and critical minerals, during the India AI Impact Summit in New Delhi. The declaration was signed by Information Technology Secretary S. Krishnan and US Under Secretary of State for Economic Affairs Jacob Helberg, with Union Minister Ashwini Vaishnaw and US Ambassador Sergio Gor in attendance. Launched in December, Pax Silica includes several nations, including Australia, Japan, and the UK, and seeks to reduce reliance on a single country, implicitly targeting China. Helberg emphasized the need to address the vulnerabilities of over-concentrated supply chains and the risks of economic coercion. Vaishnaw highlighted India's growing capabilities in chip design, while industry leaders, including Google CEO Sundar Pichai, expressed optimism about the future of US-India tech collaboration.
Published: Feb 20 2026, 7 pmeznews.inThe Reserve Bank of India's (RBI) latest monthly bulletin indicates a positive near-term economic outlook, bolstered by consumption, investment, and productivity reforms. The Monetary Policy Committee (MPC) has revised growth projections for the first two quarters of FY27, increasing estimates to 6.9% and 7.0%, respectively. Inflation is expected to remain manageable, with the Consumer Price Index (CPI) forecasted at 2.1% for FY26 and 4% for Q1 FY27. Recent trade agreements, including the India-EU free trade negotiations and an interim deal with the US, are anticipated to enhance market access and boost export competitiveness, leading to a resurgence in foreign portfolio investment, which saw inflows of $2.3 billion in February. Headline inflation stood at 2.8% year-on-year in January, with core inflation remaining subdued at 1.9%, suggesting limited underlying price pressures.
Published: Feb 20 2026, 7 pmeznews.inHeadline inflation in India is projected to be 2.1% for the fiscal year 2025-26, with the Reserve Bank of India (RBI) forecasting a slight increase to 4% and 4.2% in the first two quarters of 2026-27, respectively. RBI Governor Sanjay Malhotra highlighted that inflation outcomes may vary globally, influenced by fiscal stimulus and geopolitical uncertainties, while domestic economic activity remains robust, with real GDP growth expected to rise to 7.4% in 2025-26. The RBI's monetary policy committee voted to maintain the repo rate at 5.25%, emphasizing a neutral stance amid low inflation rates. Deputy Governor Poonam Gupta noted limited external inflation risks, while external member Ram Singh advocated for a shift to an accommodative stance, arguing that stable inflation and economic fundamentals warrant a proactive approach. The RBI's decisions reflect a cautious optimism about the economic outlook as it navigates ongoing market volatility.
Published: Feb 20 2026, 7 pmeznews.inUPL, a leading crop protection company, has unveiled a restructuring plan aimed at consolidating its India and international crop protection businesses into a dedicated platform, UPL Global, which will be publicly listed. This initiative will result in two listed entities: the existing UPL, which focuses on diversified agriculture and specialty chemicals, and the new UPL Global, specifically for crop protection. Shareholders will receive one share of UPL Global for each UPL share they hold. The restructuring involves merging UPL Sustainable Agri Solutions into UPL, followed by the demerger of the India crop protection business into UPL Global, and finally merging UPL Corp with UPL Global. Expected to complete within 12-15 months, the plan aims to enhance shareholder value, streamline operations, and attract a broader investor base. UPL's leadership believes this move will position both entities for sustainable growth and innovation in a rapidly evolving market.
Published: Feb 20 2026, 6 pmeznews.inEmbraer, the Brazilian aircraft manufacturer, has signed a Memorandum of Understanding (MoU) with Hindalco to explore sourcing aerospace-grade aluminium from India, enhancing its supply chain strategy. This agreement builds on an existing partnership with Hindalco's US subsidiary, Novelis, and aims to strengthen local supplier relationships, according to Roberto Chaves, Embraer's Executive Vice President of Global Procurement and Supply Chain. The initiative is part of Embraer's broader commitment to developing the Indian aerospace ecosystem, which includes recent collaborations with Adani and Mahindra to manufacture commercial and military aircraft in India. Currently, Embraer operates a fleet of 47 aircraft in India across various sectors, including commercial aviation, executive aviation, and defence, underscoring the country's strategic importance to the company. Last year, Embraer and Novelis established a multi-year partnership for the supply of aluminium components for its aircraft programmes.
Published: Feb 20 2026, 6 pmeznews.inTrade experts have expressed significant concerns regarding India's recent free trade agreements (FTAs) with the United States and the European Union, warning that these pacts could fundamentally alter key sectors such as agriculture, pharmaceuticals, and automobiles while limiting India's policy autonomy. During a webinar hosted by the Forum for Trade Justice, analysts highlighted that the agreements extend beyond tariff reductions, potentially undermining critical regulatory frameworks. Abhijit Das raised alarms about the dilution of compulsory licensing for medicines, which could lead to higher healthcare costs, while Biswajit Dhar pointed to ambiguities in agricultural concessions, particularly regarding genetically modified products. Additionally, provisions related to sustainability and non-market policies could impose external oversight on India's domestic regulations. Experts called for comprehensive impact assessments to evaluate the long-term implications of these FTAs on India's economic landscape and policy sovereignty, emphasizing the need for careful consideration before further commitments.
Published: Feb 20 2026, 4 pmeznews.inRain and thundershowers are expected to affect southern and central Tamil Nadu on Friday, as moisture from Sri Lanka continues to seep into the region, despite a weakening low-pressure area in the equatorial Indian Ocean. The India Meteorological Department (IMD) noted that while the existing low-pressure system may shift northwest towards Sri Lanka, a new low could form in the southeast Bay of Bengal within the next two days. This weather pattern is influenced by an eastward-moving Madden-Julian Oscillation, which brings moisture and high winds. Heavy rainfall is anticipated in southern Tamil Nadu and Kerala over the weekend, with thunderstorms and gusty winds also forecasted. In northern India, a weakened western disturbance is expected to bring thunderstorms to Uttarakhand and other regions. Additionally, isolated rain and snow are predicted for Jammu and Kashmir, Himachal Pradesh, and Uttarakhand from Sunday.
Published: Feb 20 2026, 4 pmeznews.inThe Indian government has unveiled seven new measures aimed at boosting exports as part of its ₹25,060-crore export promotion mission. These initiatives include credit assistance for e-commerce exporters and support for alternative trade instruments, with three components already launched in January. Key features include the Direct E-Commerce Credit Facility, offering up to ₹50 lakh with 90% guarantee coverage, and the Overseas Inventory Credit Facility, providing support up to ₹5 crore with a 75% guarantee. Additionally, an interest subvention of 2.75% will be available for export factoring to assist MSMEs. The government will also reimburse up to 75% of eligible testing and certification costs under the TRACE initiative, while the FLOW program will facilitate access to overseas warehousing. Furthermore, the LIFT initiative aims to support exporters from remote regions by reimbursing freight costs. These measures are designed to enhance market integration and reduce capital costs for exporters.
Published: Feb 20 2026, 4 pmeznews.inIndia has granted a one-month interim extension to four Russian insurance companies—Soglasie Insurance, Sberbank Insurance, Ugoria Insurance Group, and ASTK Insurance—allowing them to continue providing marine insurance for ships arriving at Indian ports. This extension, detailed on the website of India's Directorate-General of Shipping, comes as these firms' registrations were set to expire on February 20, 2026. The move is crucial for maritime transport, particularly for oil cargoes, amid tightening global sanctions and increasing security concerns over Russian supply chains. India currently recognizes eight Russian entities eligible for protection and indemnity (P&I) coverage, essential for ensuring compliance with safety standards. This development occurs as India seeks to reduce its imports of Russian oil while negotiating a trade deal with the United States, highlighting the complexities of international trade amid geopolitical tensions.
Published: Feb 20 2026, 4 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact