Daily Current Affairs & GK Updates

Kotak Mahindra Bank Issues India’s 1st Fully Digital FPI LicenceIn February 2026, Kotak Mahindra Bank Limited (KMBL), an Indian private sector bank, became the 1st custodian in India to issue a Foreign Portfolio Investor (FPI) licence and complete the entire onboarding process using electronic signatures(e-signature).Key Details:Digital Workflow: This development comes after the Securities and Exchange Board of India (SEBI) operationalised a unified digital workflow in January 2026, enabling the use of Digital Signature Certificates (DSCs) and electronic signatures through the FPI Common Application Form (CAF) portal.As per SEBI’s directions, DSCs must be issued by Indian certifying authorities in compliance with the Information Technology (IT) Act, 2000.Digital Licence: Earlier, KMBL issued its first two FPI licences using fully digitally signed documents, eliminating the need for physical paperwork and wet signatures.

09 Feb, 2026

Kotak Mahindra Bank Issues India’s 1st Fully Digital FPI LicenceIn February 2026, Kotak Mahindra Bank Limited (KMBL), an Indian private sector bank, became the 1st custodian in India to issue a Foreign Portfolio Investor (FPI) licence and complete the entire onboarding process using electronic signatures(e-signature).Key Details:Digital Workflow: This development comes after the Securities and Exchange Board of India (SEBI) operationalised a unified digital workflow in January 2026, enabling the use of Digital Signature Certificates (DSCs) and electronic signatures through the FPI Common Application Form (CAF) portal.As per SEBI’s directions, DSCs must be issued by Indian certifying authorities in compliance with the Information Technology (IT) Act, 2000.Digital Licence: Earlier, KMBL issued its first two FPI licences using fully digitally signed documents, eliminating the need for physical paperwork and wet signatures.

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Highlights of RBI’s 6th Bi-monthly Monetary Policy FY2025-26The Reserve Bank of India (RBI) conducted the 59th and 6th Bi-monthly Monetary Policy Committee (MPC) meeting of Financial Year 2025-26 (FY26) from February 4 to 6, 2026 under the chairmanship of Sanjay Malhotra, Governor, RBI.The meeting was attended by the MPC members Dr. Nagesh Kumar, Saugata Bhattacharya, Prof. Ram Singh, Dr. Poonam Gupta and Indranil Bhattacharyya.RBI MPC reduces Repo Rates by 25 bps to 5.25%, Maintains ‘Neutral’ StanceRate Cut: The MPC voted unanimously to reduce the policy repo rate under the liquidity adjustment facility (LAF) to 5.25%.Consequently, the standing deposit facility (SDF) rate shall stand adjusted to 5.00% and the marginal standing facility (MSF) rate and the Bank Rate to 5.50%.The MPC also decided to continue with the neutral stance, indicating rates may go up or reduce further.

09 Feb, 2026

Highlights of RBI’s 6th Bi-monthly Monetary Policy FY2025-26The Reserve Bank of India (RBI) conducted the 59th and 6th Bi-monthly Monetary Policy Committee (MPC) meeting of Financial Year 2025-26 (FY26) from February 4 to 6, 2026 under the chairmanship of Sanjay Malhotra, Governor, RBI.The meeting was attended by the MPC members Dr. Nagesh Kumar, Saugata Bhattacharya, Prof. Ram Singh, Dr. Poonam Gupta and Indranil Bhattacharyya.RBI MPC reduces Repo Rates by 25 bps to 5.25%, Maintains ‘Neutral’ StanceRate Cut: The MPC voted unanimously to reduce the policy repo rate under the liquidity adjustment facility (LAF) to 5.25%.Consequently, the standing deposit facility (SDF) rate shall stand adjusted to 5.00% and the marginal standing facility (MSF) rate and the Bank Rate to 5.50%.The MPC also decided to continue with the neutral stance, indicating rates may go up or reduce further.

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Mines Ministry Notifies Rules to Curb Illegal Offshore Mineral MiningOn 3 February 2026, the Ministry of Mines (MoM) notified the Offshore Areas Mineral (Prevention of Illegal Mining and Transportation) Rules, 2026, which came into immediate effect to regulate and prevent illegal mining, storage, transportation, and export of all offshore minerals except hydrocarbons.The rules are issued under the Offshore Areas Mineral (Development and Regulation) Act, 2002 (OAMDR Act 2002), exempt non-commercial scientific or research activities, and extend the powers of the Indian Bureau of Mines (IBM) to the Atomic Minerals Directorate for Exploration and Research (AMD) for threshold-grade atomic minerals.About Offshore Mining Rules 2026:Coverage: The rules regulate offshore minerals excluding mineral oils and hydrocarbons, apply to all operators and entities, exempt non-commercial scientific activities, and define illegal mining as operations without valid rights or beyond approved limits.Monitoring: Operating right holders and carrier owners must install real-time Electronic Monitoring (EM) Systems, ensure registration of all carriers and machinery, and avoid using unregistered equipment.Transit: Mineral movement outside lease areas requires uploading dispatch details for digital transit permits, mandatory weighment at discharge points, and prior Central Board of Indirect Taxes and Customs (CBIC) export clearance.Penalties: Aggrieved persons may appeal to the Central Government within 3 months, while violations can lead to imprisonment up to 5 years, fines from Rs 50 lakh to Rs 1 crore with daily penalties up to Rs 5 lakh, along with seizure of equipment and possible cancellation of licenses, leases, or registrations.

09 Feb, 2026

Mines Ministry Notifies Rules to Curb Illegal Offshore Mineral MiningOn 3 February 2026, the Ministry of Mines (MoM) notified the Offshore Areas Mineral (Prevention of Illegal Mining and Transportation) Rules, 2026, which came into immediate effect to regulate and prevent illegal mining, storage, transportation, and export of all offshore minerals except hydrocarbons.The rules are issued under the Offshore Areas Mineral (Development and Regulation) Act, 2002 (OAMDR Act 2002), exempt non-commercial scientific or research activities, and extend the powers of the Indian Bureau of Mines (IBM) to the Atomic Minerals Directorate for Exploration and Research (AMD) for threshold-grade atomic minerals.About Offshore Mining Rules 2026:Coverage: The rules regulate offshore minerals excluding mineral oils and hydrocarbons, apply to all operators and entities, exempt non-commercial scientific activities, and define illegal mining as operations without valid rights or beyond approved limits.Monitoring: Operating right holders and carrier owners must install real-time Electronic Monitoring (EM) Systems, ensure registration of all carriers and machinery, and avoid using unregistered equipment.Transit: Mineral movement outside lease areas requires uploading dispatch details for digital transit permits, mandatory weighment at discharge points, and prior Central Board of Indirect Taxes and Customs (CBIC) export clearance.Penalties: Aggrieved persons may appeal to the Central Government within 3 months, while violations can lead to imprisonment up to 5 years, fines from Rs 50 lakh to Rs 1 crore with daily penalties up to Rs 5 lakh, along with seizure of equipment and possible cancellation of licenses, leases, or registrations.

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IIT Madras & UIV Launches ‘IITM-Unicorn Frontier Fund I’ worth Rs.600 croresOn February 6, 2026, IIT(Indian Institute of Technology) Madras Research Park(IITMRP), in partnership with Unicorn India Ventures (UIV), launched a ‘IITM-Unicorn Frontier Fund I’, a venture capital fund, worth Rs.600 crores to support deep-technology startups in India.About IITM-Unicorn Frontier Fund I:Purpose: The fund aims to promote Intellectual Property (IP)-driven, engineering-intensive startups by providing patient capital to bridge the gap from lab prototypes to commercial products, boosting India’s strategic technology self-reliance.Fund Structure: The fund includes greenshoe option of Rs.400 crores, bringing the total of Rs.1000 crores, for a tenure of 10 years extendable by 2 years.It plans to invest in over 25 startups and will allocate about 60% for initial investments and 40% for follow-on funding.Focus Sectors: It includes robotics, space technology, defence technology, semiconductors, medtech and other strategic technologies.Investment Stages: It will be primarily invested in startups at Technology Readiness Levels (TRL) 3-4 (validated technology ready for scaling efforts), TRL 5-7 (mid-stage development), TRL 7-9 (market-ready technologies).

09 Feb, 2026

IIT Madras & UIV Launches ‘IITM-Unicorn Frontier Fund I’ worth Rs.600 croresOn February 6, 2026, IIT(Indian Institute of Technology) Madras Research Park(IITMRP), in partnership with Unicorn India Ventures (UIV), launched a ‘IITM-Unicorn Frontier Fund I’, a venture capital fund, worth Rs.600 crores to support deep-technology startups in India.About IITM-Unicorn Frontier Fund I:Purpose: The fund aims to promote Intellectual Property (IP)-driven, engineering-intensive startups by providing patient capital to bridge the gap from lab prototypes to commercial products, boosting India’s strategic technology self-reliance.Fund Structure: The fund includes greenshoe option of Rs.400 crores, bringing the total of Rs.1000 crores, for a tenure of 10 years extendable by 2 years.It plans to invest in over 25 startups and will allocate about 60% for initial investments and 40% for follow-on funding.Focus Sectors: It includes robotics, space technology, defence technology, semiconductors, medtech and other strategic technologies.Investment Stages: It will be primarily invested in startups at Technology Readiness Levels (TRL) 3-4 (validated technology ready for scaling efforts), TRL 5-7 (mid-stage development), TRL 7-9 (market-ready technologies).

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NSO Launches Beta Version of ‘MCP Server’ on eSankhyiki PortalIn February 2026, the National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) launched the beta version of its Model Context Protocol (MCP) server which enables users to directly connect to official datasets their own Artificial Intelligence (AI) tools and applications, for eSankhyiki portal.The MCP Server is a major step towards building the data infrastructure required for Viksit Bharat.About MCP Server:Datasets: The beta version of the server now features seven data sets i.e. Periodic Labour Force Survey (PLFS), Consumer Price Index (CPI), Annual Survey of Industries (ASI), Index of Industrial Production (IIP), National Accounts Statistics (NAS), Wholesale Price Index (WPI), and Environment Statistics.The MoSPI is planning to expand the portal with additional datasets in the upcoming months.Significance: The MCP server will enable the users to access verified information and insights in real-time. It will also help the data users complete their work faster, enable businesses to make informed decisions, and give policymakers immediate access to the numbers they require.Aligns with: This new initiative aligns with the objectives of Working Group 6 on Democratising AI headed by Dr. Saurab Garg, Secretary of MoSPI.eSankhyiki Portal: Launched in June 2024, it is India’s national platform for official statistics, offering a centralised gateway to diverse socioeconomic and macroeconomic data.

09 Feb, 2026

NSO Launches Beta Version of ‘MCP Server’ on eSankhyiki PortalIn February 2026, the National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) launched the beta version of its Model Context Protocol (MCP) server which enables users to directly connect to official datasets their own Artificial Intelligence (AI) tools and applications, for eSankhyiki portal.The MCP Server is a major step towards building the data infrastructure required for Viksit Bharat.About MCP Server:Datasets: The beta version of the server now features seven data sets i.e. Periodic Labour Force Survey (PLFS), Consumer Price Index (CPI), Annual Survey of Industries (ASI), Index of Industrial Production (IIP), National Accounts Statistics (NAS), Wholesale Price Index (WPI), and Environment Statistics.The MoSPI is planning to expand the portal with additional datasets in the upcoming months.Significance: The MCP server will enable the users to access verified information and insights in real-time. It will also help the data users complete their work faster, enable businesses to make informed decisions, and give policymakers immediate access to the numbers they require.Aligns with: This new initiative aligns with the objectives of Working Group 6 on Democratising AI headed by Dr. Saurab Garg, Secretary of MoSPI.eSankhyiki Portal: Launched in June 2024, it is India’s national platform for official statistics, offering a centralised gateway to diverse socioeconomic and macroeconomic data.

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DoSJE, PW Foundation Signs MoU to Provide Free Online Coaching for Competitive ExamsIn February 2026, the Department of Social Justice and Empowerment (DoSJE) under the Ministry of Social Justice and Empowerment (MSJE) signed a Memorandum of Understanding (MoU) with the Physics Wallah (PW) Foundation to provide free online coaching to 5,000 aspirants annually from Scheduled Castes (SCs), Other Backward Classes (OBCs), and beneficiaries of the Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM CARES) for Children Scheme across India.About the Scheme:Coaching: Under this collaboration, the PW Foundation will provide high-quality online coaching for exams including the Civil Services Examination (CSE), Staff Selection Commission (SSC) exams, and various Banking examinations.Selection Process: Beneficiaries will be chosen on a merit basis through a dedicated online portal.Learning Support: Under this initiative, eligible beneficiaries receive free access to structured online courses, which include live and recorded classes, test series, previous year question papers, study material, mentorship, doubt‑solving support, and counselling.About PM CARES: PM CARES for Children Scheme , launched by the Prime Minister (PM) Narendra Modi on 29 May 2021, aims to ensure sustained care, protection, and overall well-being of children through comprehensive support measures.

09 Feb, 2026

DoSJE, PW Foundation Signs MoU to Provide Free Online Coaching for Competitive ExamsIn February 2026, the Department of Social Justice and Empowerment (DoSJE) under the Ministry of Social Justice and Empowerment (MSJE) signed a Memorandum of Understanding (MoU) with the Physics Wallah (PW) Foundation to provide free online coaching to 5,000 aspirants annually from Scheduled Castes (SCs), Other Backward Classes (OBCs), and beneficiaries of the Prime Minister’s Citizen Assistance and Relief in Emergency Situations (PM CARES) for Children Scheme across India.About the Scheme:Coaching: Under this collaboration, the PW Foundation will provide high-quality online coaching for exams including the Civil Services Examination (CSE), Staff Selection Commission (SSC) exams, and various Banking examinations.Selection Process: Beneficiaries will be chosen on a merit basis through a dedicated online portal.Learning Support: Under this initiative, eligible beneficiaries receive free access to structured online courses, which include live and recorded classes, test series, previous year question papers, study material, mentorship, doubt‑solving support, and counselling.About PM CARES: PM CARES for Children Scheme , launched by the Prime Minister (PM) Narendra Modi on 29 May 2021, aims to ensure sustained care, protection, and overall well-being of children through comprehensive support measures.

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VOC Port Becomes 1st Port in India to Deploy Advanced ‘Anti-Drone System’In February 2026, V.O. Chidambaranar (VOC)Port located in Thoothukudi, Tamil Nadu (TN), becomes the 1st port in India to initiate installation of an advanced ‘Anti-Drone System’, marking a major step in the protection of critical port infrastructure.This development also marks a significant step towards strengthening maritime and coastal security.Key Details of Project:Aim: The initiative aims to bolster airspace surveillance, ensuring adherence with emerging coastal defence norms, and enhancing emergency response preparedness at the port.Signatories: The agreement for the proposed project was signed by A. Ganesan, Chief Mechanical Engineer, VOC Port Authority (VOCPA) and Anurag Agarwal, who represented the Central Electronics Limited (CEL).Timeline: The project is expected to be completed within the next 3 months.Deployment: The project includes the deployment of a comprehensive, integrated Radio Frequency (RF) and radar-based drone detection and jamming system, specifically designed for complex port environments.Coverage: The advanced ‘Anti-drone’ system provides 360 degree coverage, omnidirectional bearing, with an effective range of up to 5 kilometer (km).

09 Feb, 2026

VOC Port Becomes 1st Port in India to Deploy Advanced ‘Anti-Drone System’In February 2026, V.O. Chidambaranar (VOC)Port located in Thoothukudi, Tamil Nadu (TN), becomes the 1st port in India to initiate installation of an advanced ‘Anti-Drone System’, marking a major step in the protection of critical port infrastructure.This development also marks a significant step towards strengthening maritime and coastal security.Key Details of Project:Aim: The initiative aims to bolster airspace surveillance, ensuring adherence with emerging coastal defence norms, and enhancing emergency response preparedness at the port.Signatories: The agreement for the proposed project was signed by A. Ganesan, Chief Mechanical Engineer, VOC Port Authority (VOCPA) and Anurag Agarwal, who represented the Central Electronics Limited (CEL).Timeline: The project is expected to be completed within the next 3 months.Deployment: The project includes the deployment of a comprehensive, integrated Radio Frequency (RF) and radar-based drone detection and jamming system, specifically designed for complex port environments.Coverage: The advanced ‘Anti-drone’ system provides 360 degree coverage, omnidirectional bearing, with an effective range of up to 5 kilometer (km).

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India Signs DPI Cooperation MoUs with 23 Countries; UPI Goes Live in 8 CountriesIn February 2026, the Government of India (GoI) signed Memorandums of Understanding (MoUs)/agreements with 23 countries to share and promote its Digital Public Infrastructure (DPI) and components of the India Stack framework.This information was shared by Union Minister of State(MoS) Jitin Prasada, Ministry of Electronics and Information Technology(MeitY) in Parliament.Key Details of MoUs/Agreements:Focus Areas: These MoUs primarily focus on boosting cooperation in areas like: digital identity, digital payments, data exchange, and service delivery platforms.Countries Signed: The list of countries which have signed MoUs on DPI cooperation are: Armenia, Sierra Leone, Suriname, Antigua and Barbuda, Papua New Guinea, Trinidad and Tobago, Tanzania, Kenya, Cuba, Colombia, Lao People’s Democratic Republic (LPDR), Saint Kitts and Nevis, Ethiopia, Jamaica, Gambia, Fiji, Guyana, Venezuela, Sri Lanka, Brazil, Lesotho, Maldives and Mongolia.Global Presence of UPI: Under this initiative, India’s flagship digital payments platform, the Unified Payments Interface (UPI) is now operational in eight countries including ,the United Arab Emirates (UAE), Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius, and Qatar.MoUs on Digilocker: In addition, the GoI signed certain MoUs with countries like: Cuba, Kenya, the UAE, and LPDR for cooperation on Digilocker, India’s 1st digital document storage and verification platform.Key Measures Promoting Digital Governance:India Stack Global portal: It facilitates access to 18 key digital platforms (such as: Aadhaar, UPI, CoWIN, Digilocker, among others)that are part of India’s DPI solutions, serving as a gateway for partner countries to adopt and explore these platforms.Global DPI Repository: It was formally launched during India’s Group-20 (G20) Presidency in 2023. It acts as a global knowledge platform, with India contributing the highest number of DPI solutions.

09 Feb, 2026

India Signs DPI Cooperation MoUs with 23 Countries; UPI Goes Live in 8 CountriesIn February 2026, the Government of India (GoI) signed Memorandums of Understanding (MoUs)/agreements with 23 countries to share and promote its Digital Public Infrastructure (DPI) and components of the India Stack framework.This information was shared by Union Minister of State(MoS) Jitin Prasada, Ministry of Electronics and Information Technology(MeitY) in Parliament.Key Details of MoUs/Agreements:Focus Areas: These MoUs primarily focus on boosting cooperation in areas like: digital identity, digital payments, data exchange, and service delivery platforms.Countries Signed: The list of countries which have signed MoUs on DPI cooperation are: Armenia, Sierra Leone, Suriname, Antigua and Barbuda, Papua New Guinea, Trinidad and Tobago, Tanzania, Kenya, Cuba, Colombia, Lao People’s Democratic Republic (LPDR), Saint Kitts and Nevis, Ethiopia, Jamaica, Gambia, Fiji, Guyana, Venezuela, Sri Lanka, Brazil, Lesotho, Maldives and Mongolia.Global Presence of UPI: Under this initiative, India’s flagship digital payments platform, the Unified Payments Interface (UPI) is now operational in eight countries including ,the United Arab Emirates (UAE), Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius, and Qatar.MoUs on Digilocker: In addition, the GoI signed certain MoUs with countries like: Cuba, Kenya, the UAE, and LPDR for cooperation on Digilocker, India’s 1st digital document storage and verification platform.Key Measures Promoting Digital Governance:India Stack Global portal: It facilitates access to 18 key digital platforms (such as: Aadhaar, UPI, CoWIN, Digilocker, among others)that are part of India’s DPI solutions, serving as a gateway for partner countries to adopt and explore these platforms.Global DPI Repository: It was formally launched during India’s Group-20 (G20) Presidency in 2023. It acts as a global knowledge platform, with India contributing the highest number of DPI solutions.

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DST Launches ‘India-Netherlands Hydrogen Fellowship Programme’ in New DelhiOn February 6, 2026, Abhay Karandikar, Secretary, Department of Science and Technology (DST), Ministry of Science & Technology (MoS&T), launched ‘India-Netherlands Hydrogen Fellowship Programme’ in New Delhi, Delhi.DST also hosted the signing of a Memorandum of Understanding (MoU) between the University of Groningen, the Netherlands, and 19 Indian Institutes of Technology (IITs) to establish an academic cooperation framework in green energy and hydrogen(H₂) research.About India-Netherlands Hydrogen Fellowship Programme:Scheme Launch: During the event, the DST released the Scheme Guidelines and Call for Proposals (CFP), officially opening the application process.Access: The fellowship programme is open to Indian Doctor of Philosophy (PhD) scholars, postdoctoral researchers, and faculty members across Indian institutions.Purpose: The programme is designed to enhance human capacity and research expertise essential for scaling up green hydrogen (H₂) technologies in India.Focus Areas: It includes hydrogen system integration, safety standards, techno-economic analysis, life-cycle assessment, and indigenization and deployment pathways.Alignment: The initiative aligns with the Government of India (GoI)’s vision of National Green Hydrogen Mission (NGHM), Energy Independence by 2047, and Net-Zero emissions by 2070.About Netherlands:Prime Minister (PM) – Dick SchoofCapital – AmsterdamCurrency – Euro (EUR)

09 Feb, 2026

DST Launches ‘India-Netherlands Hydrogen Fellowship Programme’ in New DelhiOn February 6, 2026, Abhay Karandikar, Secretary, Department of Science and Technology (DST), Ministry of Science & Technology (MoS&T), launched ‘India-Netherlands Hydrogen Fellowship Programme’ in New Delhi, Delhi.DST also hosted the signing of a Memorandum of Understanding (MoU) between the University of Groningen, the Netherlands, and 19 Indian Institutes of Technology (IITs) to establish an academic cooperation framework in green energy and hydrogen(H₂) research.About India-Netherlands Hydrogen Fellowship Programme:Scheme Launch: During the event, the DST released the Scheme Guidelines and Call for Proposals (CFP), officially opening the application process.Access: The fellowship programme is open to Indian Doctor of Philosophy (PhD) scholars, postdoctoral researchers, and faculty members across Indian institutions.Purpose: The programme is designed to enhance human capacity and research expertise essential for scaling up green hydrogen (H₂) technologies in India.Focus Areas: It includes hydrogen system integration, safety standards, techno-economic analysis, life-cycle assessment, and indigenization and deployment pathways.Alignment: The initiative aligns with the Government of India (GoI)’s vision of National Green Hydrogen Mission (NGHM), Energy Independence by 2047, and Net-Zero emissions by 2070.About Netherlands:Prime Minister (PM) – Dick SchoofCapital – AmsterdamCurrency – Euro (EUR)

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India-USA Agree on Framework for Interim Trade AgreementOn February 7, 2026, India and the United States of America (USA) agreed on a framework for an Interim Trade Agreement(ITA), marking a significant step towards a full USA-India Bilateral Trade Agreement (BTA).Key Elements of the Framework for India-USA Interim Trade Agreement:Tariff Reduction: India will reduce or remove tariffs on all industrial goods and many agricultural and food products, including Animal feed such as Distillers’ Dried Grains (DDGs), Red Sorghum, tree nuts, fruits (fresh and processed), soybean oil, and wine and spirits, from the USA.USA’s Reciprocal Tariffs: USA will impose an 18% reciprocal tariff under Executive Order 14257 of April 2, 2025 (Regulating Imports With a Reciprocal Tariff to Rectify Trade Practices That Contribute to Large and Persistent Annual United States Goods Trade Deficits) on Indian exports such as textiles and apparel, leather and footwear, plastics and rubber, chemicals, handicrafts, home decor, and some machineries.Aircraft & Auto parts: The USA will remove security-related tariffs on Indian aircraft and aircraft parts, grant preferential access (quota-based) for auto parts exports, and determine outcomes for pharmaceuticals based on the findings of national security review of the USA.India’s Trade Purchases: India plans to buy USD 500 billion worth products over 5 years from the USA, including energy products, aircraft and parts, technology products, precious metals, and coking coal.Digital Trade: Trade in advanced technology products, including Graphics Processing Units (GPUs) and data-center equipment, will be expanded.About United States of America (USA):President – Donald John (J) TrumpCapital – Washington D.C.Currency – United States Dollar (USD)

09 Feb, 2026

India-USA Agree on Framework for Interim Trade AgreementOn February 7, 2026, India and the United States of America (USA) agreed on a framework for an Interim Trade Agreement(ITA), marking a significant step towards a full USA-India Bilateral Trade Agreement (BTA).Key Elements of the Framework for India-USA Interim Trade Agreement:Tariff Reduction: India will reduce or remove tariffs on all industrial goods and many agricultural and food products, including Animal feed such as Distillers’ Dried Grains (DDGs), Red Sorghum, tree nuts, fruits (fresh and processed), soybean oil, and wine and spirits, from the USA.USA’s Reciprocal Tariffs: USA will impose an 18% reciprocal tariff under Executive Order 14257 of April 2, 2025 (Regulating Imports With a Reciprocal Tariff to Rectify Trade Practices That Contribute to Large and Persistent Annual United States Goods Trade Deficits) on Indian exports such as textiles and apparel, leather and footwear, plastics and rubber, chemicals, handicrafts, home decor, and some machineries.Aircraft & Auto parts: The USA will remove security-related tariffs on Indian aircraft and aircraft parts, grant preferential access (quota-based) for auto parts exports, and determine outcomes for pharmaceuticals based on the findings of national security review of the USA.India’s Trade Purchases: India plans to buy USD 500 billion worth products over 5 years from the USA, including energy products, aircraft and parts, technology products, precious metals, and coking coal.Digital Trade: Trade in advanced technology products, including Graphics Processing Units (GPUs) and data-center equipment, will be expanded.About United States of America (USA):President – Donald John (J) TrumpCapital – Washington D.C.Currency – United States Dollar (USD)

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