eznews.in
India's recent agreement with the United States to reduce tariffs on Indian goods from 25% to 18% is poised to significantly enhance the competitiveness of Indian exports, particularly in labour-intensive sectors such as textiles, apparel, leather, and footwear. With India's tariffs now among the lowest in the region—surpassing those of China (30-35%), Vietnam (20%), Bangladesh (20%), and Indonesia (19%)—exporters anticipate a surge in orders that had previously been delayed. Experts, including Sanjay Jain from the ICC National Expert Committee on Textiles, highlight that this shift will not only improve price competitiveness but also facilitate deeper integration into US supply chains, fostering capacity expansion and job creation. The US remains India's largest export market, with shipments valued at $86.51 billion in FY25, making this tariff reduction a critical development for the Indian economy and employment, especially for women in the workforce. 
Published: Feb 03 2026, 1 pmeznews.inThai Airways is set to expand its operations significantly, with CEO Chai Eamsiri announcing the introduction of flights to four new destinations in India, including Amritsar, Jaipur, and Kochi, alongside a planned service to Pune next year. Currently operating 78 flights weekly to eight Indian cities, the airline will increase this to 100 flights this summer, enhancing frequencies to Delhi, Bengaluru, Chennai, and Kolkata. The expansion will be supported by the arrival of 16 new Airbus A321Neo aircraft, featuring lie-flat business class seats, which will be deployed on routes to Hyderabad, Ahmedabad, and other major cities. This growth comes amid a 15% rise in air traffic between India and Thailand, with Indian tourists constituting a significant portion of Thailand's 32.9 million foreign visitors last year. Eamsiri also highlighted plans to reinstate flights to China and introduce services to Auckland by 2026, reflecting the airline's commitment to enhancing connectivity.
Published: Feb 03 2026, 1 pmeznews.inThe shrimp industry in India is experiencing a mix of relief and concern following US President Donald Trump's announcement to reduce tariffs from 50% to 18%. This decision has been welcomed by industry leaders, including Ravi Kumar Yellanki, Managing Director of Vaisakhi Bio-Marine, who expressed optimism about the sector's recovery. However, the industry is also adapting to lessons learned from its heavy reliance on the US market, now exploring alternative export opportunities in Australia and the European Union. Farmers, while pleased with the tariff reduction, are disheartened by a simultaneous increase in feed prices by ₹4 per kg, which significantly impacts their production costs. Gopinadh, General Secretary of the district Prawn Farmers Association, highlighted that feed accounts for over 60% of their expenses, raising concerns about the additional financial burden this price hike will impose. Feed companies attribute the increase to rising raw material costs.
Published: Feb 03 2026, 2 pmeznews.inGold prices surged on Tuesday, with the metal rising by $227, or nearly 5%, to reach $4,887.05 an ounce, while April futures on COMEX climbed over 5.5% to $4,913.14. This rebound followed a significant correction, with gold and silver prices dropping approximately 25% and 45% from recent highs, prompting strong physical buying from investors. In India, gold gained 10% in the spot market, while silver saw a slight decline. Silver prices also soared, reaching $86.3 an ounce, driven by demand in various industries, including electric vehicles. Analysts noted that the recent volatility was exacerbated by a margin hike from CME Group, leading to panic selling. Despite the recent downturn, experts believe the long-term fundamentals for gold and silver remain strong, with potential for further gains as markets adjust to the absence of key US economic data amid a partial government shutdown.
Published: Feb 03 2026, 1 pmeznews.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 am
For the fastest, latest, not so wokest news, 'experts say' you need to visit Eznews
India
World
Economy
Science
Health
Showbiz
Contact