eznews.in
The Indian rupee experienced a significant rise in the non-deliverable forward (NDF) market following the announcement of a trade deal between India and the United States, which has sparked optimism for increased foreign investment. As a result, one-month dollar/rupee NDF levels are projected to open between 90.15 and 90.25, a notable improvement from Monday's closing rate of 91.5125. This development reflects growing confidence in the Indian economy and its potential to attract foreign capital, bolstered by the recent diplomatic and economic collaboration with the US. The trade agreement is expected to enhance bilateral trade relations, further supporting the rupee's strength in the currency markets. Published on February 3, 2026, this news highlights the dynamic interplay between international trade agreements and currency valuation. 
Published: Feb 03 2026, 8 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 ameznews.inIn a landmark trade agreement announced following talks between US President Donald Trump and Indian Prime Minister Narendra Modi, tariffs on Indian goods have been reduced from 25% to 18%, a move hailed by industry leaders and economists as a significant boost to bilateral economic relations. Ashish Chauhan, CEO of the National Stock Exchange of India, described the deal as a "big win" for businesses and supply chains, while Arvind Panagariya, Chairman of the 16th Finance Commission, praised the negotiation efforts. Market analysts noted that the agreement would enhance India's competitiveness in the US market, particularly benefiting export-oriented sectors like IT and pharmaceuticals. The deal also includes commitments from India to increase energy purchases from the US, further solidifying economic ties. Both leaders expressed optimism about the partnership, with Modi emphasizing the potential for mutual cooperation and growth, while Trump highlighted the importance of the agreement for global stability.
Published: Feb 03 2026, 6 ameznews.inExternal Affairs Minister S. Jaishankar has praised a new trade agreement between India and the US, which he believes will enhance economic growth and bolster India's 'Make in India' initiative. During his three-day visit to the US for a ministerial meeting on critical minerals supply chains, Jaishankar welcomed the reduction of reciprocal tariffs on Indian goods from 25% to 18%, as announced by US President Donald Trump following a conversation with Prime Minister Narendra Modi. Modi expressed gratitude for the tariff cut, emphasizing the benefits of cooperation between the world's largest democracies. Trump noted that India would also work towards eliminating tariffs and non-tariff barriers against US goods, committing to purchase over $500 billion in American products, including energy. The leaders also discussed geopolitical issues, including the war in Ukraine, with Modi agreeing to reduce Russian oil imports in favor of US supplies.
Published: Feb 03 2026, 6 ameznews.inThe Central Board of Indirect Taxes & Customs (CBIC) has updated India's baggage and duty-free regulations for returning residents and tourists, allowing female travellers to bring back 40 grams of jewellery and male travellers 20 grams without any value cap, provided they have spent over a year abroad. Previously, these limits were accompanied by value caps of ₹1 lakh and ₹50,000. The new rules also increase duty-free allowances to ₹75,000 for resident Indians and tourists of Indian origin, while foreign tourists and crew members are allowed ₹25,000 and ₹2,500, respectively. Additionally, the transfer of residence benefits have been simplified, with duty-free limits set at ₹1.5 lakhs for up to one year abroad, rising to ₹7.5 lakhs for over two years. The revised framework aims to enhance passenger convenience and streamline customs procedures, reflecting the growing travel volumes and expectations.
Published: Feb 02 2026, 11 pmeznews.inIn her first media interview following the presentation of her ninth Budget, Finance Minister Nirmala Sitharaman discussed key proposals and defended tax increases on derivatives and secondary market transactions in sovereign gold bonds. Emphasizing stability in tax administration, she noted that most reforms had already been implemented, leaving little room for further changes. Sitharaman highlighted a focus on urban development, with ₹1,000 crore allocated annually for cities with populations over five lakh, and reiterated her commitment to farmers through various initiatives. She expressed confidence in meeting revenue projections, particularly in personal income tax, despite lower-than-expected collections. Addressing concerns over capital expenditure, she clarified that delays in fund release were due to pending utilization certificates from states. Sitharaman also introduced the "Orange Economy" initiative to enhance skills in creative industries and explained the rationale behind taxing secondary market transactions, aiming to deter speculative trading.
Published: Feb 02 2026, 10 pmeznews.inIndia's Finance Minister Nirmala Sitharaman announced a significant reduction in customs duty on goods imported for personal use, lowering the levy from 20% to 10% in her recent Budget presentation. This change applies to items brought by international travellers and those ordered online for personal consumption, addressing previously high levies that often surprised consumers at airports or during parcel deliveries. Analysts, however, suggest that the impact on cross-border e-commerce may be limited, as it constitutes a small segment of India's online retail market. The revised Baggage Rules also introduce higher duty-free limits of up to ₹75,000 per person and a trust-based settlement mechanism for honest travellers, aiming to create a more passenger-friendly customs regime. The duty cut is expected to ease the import process for individual buyers and reduce congestion at customs checkpoints, benefiting those purchasing personal items abroad.
Published: Feb 02 2026, 9 pmeznews.inIndia has recently overtaken Japan to become the world's fourth-largest economy, yet stark disparities in public health spending persist, with Japan allocating nearly 10-11% of its GDP to healthcare compared to India's 1.6-1.9%. The 2026 Budget saw a slight increase in healthcare allocation to ₹1,04,599 crore, but it remains insufficient to address the growing demand for medical services and technology. Key initiatives include a ₹10,000 crore commitment to establish India as a global biopharma hub and a focus on digital health infrastructure. The Budget also aims to enhance the Ayushman Bharat scheme, expand emergency care, and address workforce shortages by training 1 lakh Allied Health Professionals. While these measures signal progress towards a more inclusive and innovative healthcare system, experts caution that investment levels must rise significantly to bridge the gap between ambition and actual public spending needs.
Published: Feb 02 2026, 9 pm
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact