Economy & Policy News

India-US trade deal to cut tariffs to 18% after joint statement: Goyal

India and the US will issue a joint statement in the coming days to seal the first tranche of their trade deal, paving the way for a White House order cutting tariffs on Indian exports to 18 per cent

Venezuela long-standing energy partner, India open to crude sourcing: MEA

India said Venezuela has been a long-standing energy partner and New Delhi remains open to exploring crude supply options based on commercial merit, even as energy security stays the top priority

Unspent ₹43,636 cr lies in states' SNA accounts despite higher allocations

More than Rs 43,000 crore remains unutilised in states' SNA accounts under major centrally sponsored schemes, even as Budget sharply raises allocations for education, water and nutrition programmes

India, GCC sign ToR to restart free trade talks after three-year pause

India, the six-nation GCC bloc have signed the terms of reference for a proposed free trade agreement, formally setting the stage for negotiations aimed at boosting trade, investment, strategic ties

India, US to sign first tranche of formal trade agreement by mid-March

India and the United States are set to sign the first tranche of a formal trade agreement by mid-March, Commerce and Industry Minister Piyush Goyal said, following a joint statement expected shortly

'Commercial viability key': MEA says open to Venezuela, other crude sources

The MEA said India is open to sourcing crude from Venezuela and other countries based on commercial viability, adding that energy security for 1.4 billion people remains its top priority

India, Gulf Cooperation Council sign terms of reference to begin FTA talks

Launch of FTA talks with the GCC would be a kind of resumption of the negotiations, as the earlier two rounds of negotiations were held in 2006 and 2008 between the two regions

Why India is resetting GDP and CPI base years and what the change means

From shopping baskets to growth calculations, India is updating the base years for CPI inflation and GDP to reflect today's economy, a recalibration that will change headline numbers without altering

India, US likely to sign joint statement on trade deal in 4-5 days: Goyal

Commerce and Industry minister Goyal told reporters that a legal agreement for the first tranche of the pact is expected to be signed by mid-March

Ready to 'elevate' relationship with India, says US Ambassador Sergio Gor

Gor's comments follow a trade deal announcement between India and the US earlier this week, after almost a year of negotiations between the two countries

India-US energy corridor talks focus on growth-driven energy priorities

The roundtable follows the February 2026 India-US trade framework, which identified energy and technology cooperation as core drivers of bilateral growth

Russian oil tankers position close to India amid lack of clarity on US FTA

Officials of Indian refiners evaluating Russian crude alongside other grades from Brazil, Angola and UAE

India told Washington it wouldn't be bullied as trade talks resumed

India's national security adviser told US officials New Delhi would wait out Trump's term, even as it quietly worked to ease tensions and restart trade talks after months of tariffs and public insults

Headwinds may be turning into tailwinds for foreign inflows: FM Sitharaman

FM Nirmala Sitharaman says another round of Customs clean-up soon

Over 40% of India's US exports already face zero duty, shows govt data

More than two-fifths of India's exports to the US faced no tariffs before trade agreement was sealed

Two decades of FRLs fail to rein in debt in several states: World Bank

A World Bank report to the 16th Finance Commission says state fiscal rules improved headline deficits, but debt levels remain high and uneven across several large states

Diversifying energy sourcing amid changing global dynamics: Goyal

Commerce and industry minister Piyush Goyal told Parliament that India protected key food and agriculture interests in the trade deal with the US, while both sides addressed sensitive areas

Outcome Budget data raises questions on returns from government capex

The Outcome Budget or OOMF is meant to link government spending to measurable results, but near-identical targets across years highlight gaps in assessing returns on public investment

Budget 2026 backs decarbonisation, clean energy supply chains

Union Budget 2026-27 lays out a long-term energy strategy focused on decarbonisation and supply chain resilience through CCUS funding, nuclear incentives, battery storage support, logistics upgrades

India, GCC to sign terms of reference on Feb 5 to launch FTA talks

Commerce and Industry Minister Piyush Goyal will preside over the signing ceremony of the ToRs with GCC