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Union Commerce and Industry Minister Piyush Goyal on Sunday dismissed criticism about India conceding more to the United States by agreeing to an 18% tariff, asserting that the move would help Indian goods gain a competitive edge, according to a PTI interview. Goyal said India was negotiating trade agreements from a "position of strength", highlighting that Indian exports would face lower tariffs than those from China, which is subject to a 35% tariff, and other countries facing duties of 19% and above.Speaking to PTI in his first interview after India and US reached a tariff agreement seen as a precursor to a broader bilateral trade agreement, Goyal said India today enters trade talks with confidence as a $4 trillion economy. “I start negotiations by saying we are a $4 trillion economy today, but we are going to be a $30–35 trillion economy by 2047 when we become a developed nation. That is the future market we offer,” he said, describing this growth trajectory as India’s core negotiating strength.Also Read: India-U.S. trade deal seen boosting aerospace sourcing, aircraft ordersThe minister further said India’s free trade agreement negotiations are guided by caution, respect for partners’ sensitivities and strong personal engagement with negotiators. He said he had met every negotiator involved in India’s nine trade agreements, underlining that rapport-building often helps unlock additional benefits, particularly when trade-offs are required. “What we do in an FTA affects the nation and our people for decades to come,” Goyal said.On the India-European Union free trade agreement, Goyal credited Prime Minister Narendra Modi’s close engagement with global leaders for its broad acceptance across Europe. He said the impact of every decision was carefully assessed across the economies of all 27 EU member states, adding that the India-EU FTA had seen no negative reaction across the bloc, unlike another EU trade agreement signed in 2019 that continues to face implementation challenges.Offering a glimpse into the behind-the-scenes dynamics of trade talks, Goyal described negotiations as a high-stakes exercise requiring foresight, lateral thinking and composure. Also Read: From wine to walnuts: India–US trade deal set to make American imports cheaperWhile maintaining calm is essential, he said, there are moments when showing temper can be used strategically. He credited guidance from Prime Minister Modi, Home Minister Amit Shah and cabinet colleagues, as well as support from the Prime Minister’s Office and the Cabinet Secretary, for enabling a whole-of-government approach to negotiations.— PTI_News (@PTI_News) Goyal said none of the nine trade agreements signed so far had compromised national interest, with public good remaining central to India’s negotiating strategy. He added that all agreements were fair and balanced, and in cases involving smaller economies where concessions were not adequately matched, India supplemented deals with additional inputs to ensure equity.India would have no difficulty purchasing goods worth $500 billion from the United States over the next five years, describing the figure as “very conservative” given the scale of the country’s expanding economy, Goyal added. He said India’s import demand could reach around $2 trillion during this period, adding that India already imports goods worth about $300 billion from countries other than the US that could potentially be sourced from American suppliers, adding that the opportunity for US exporters would depend on their competitiveness. India and the United States on Saturday announced that they had finalised the framework for the first phase of a bilateral trade agreement. Under a joint statement, India expressed its intention to purchase $500 billion worth of US energy products, aircraft and aircraft parts, precious metals, technology products and coking coal over the next five years.The minister said aviation would account for a significant share of the proposed purchases, noting that India already has aircraft and engine orders worth about $50 billion with Boeing. He said overall aviation requirements, including spare parts and additional aircraft, could exceed $100 billion over the next five years.Goyal said India’s expanding steel industry would drive higher imports of coking coal, with current imports estimated at 17–18 billion tonnes annually. As capacity grows, he said, India could require coking coal imports worth about $30 billion per year.He also pointed to rising demand from data centres, artificial intelligence and advanced manufacturing. Goyal said large investments by global technology firms could result in around 10 gigawatts of data centre capacity in India, increasing demand for high-quality machinery, ICT equipment and advanced chips, including for AI and quantum computing.Calling the United States the world’s leading technology provider, Goyal reiterated that the $500 billion purchase target was modest for an economy aiming to grow to $30 trillion by 2047, adding that India’s consumption and import demand would continue to rise.

Prime Minister Narendra Modi's emphasis on avoiding "policy ping-pong" has shaped the Union Budget 2026-27, which is anchored in policy stability while laying the pathways for the long-term vision of a 'Viksit Bharat' at its core, Finance Minister Nirmala Sitharaman said.Framed as the first Budget of a new five-year fiscal cycle and the second quarter of the 21st century, it prioritises capital expenditure, infrastructure expansion and structural reforms over populist measures, while maintaining fiscal discipline.By emphasising predictable policymaking, sustained investment and multi-year planning extending to 2047 and beyond, the Budget seeks to strengthen economic resilience, crowd in private investment and position India for durable, export-led growth."People want stability, and that is why they have elected Prime Minister Modi for the third time. Stability is inherent in that vote, and it is equally reflected in the way policies are executed through successive budgets," Sitharaman said in an interview to PTI.ALSO READ | Govt to constitute high-level panel on banking soonShe said the Prime Minister's third consecutive electoral victory represented a clear public endorsement of political and policy stability, which the government sees as central to India's long-term growth strategy.Emphasising the government's focus on policy continuity, she said the Prime Minister has consistently stressed the need to avoid abrupt shifts in direction."The Prime Minister always speaks of avoiding 'policy ping-pong'. Once a policy direction is announced, the government remains steady in its execution," she said.Sitharaman said the Budget should not be viewed merely as a one-year financial exercise, but as part of a longer planning horizon.The finance minister noted that the Budget marks the first year of the second quarter of the 21st century, the first year of a new government term, and the beginning of a new five-year fiscal cycle."We are also looking ahead to 2047 and beyond, up to 2050. The focus is on building a Viksit Bharat by the centenary year of Independence and preparing India over the next 25 years for future challenges and opportunities," she said.According to the finance minister, this long-term perspective will guide policymaking across sectors, with an emphasis on sustained growth, institutional strength and economic resilience in the decades ahead.Speaking about public expenditure towards infrastructure development, Sitharaman said capital expenditure is one of the success stories of this government.The CPSE route and budgeted provisions for various government departments have yielded remarkable results in infrastructure development after the COVID pandemic, she pointed out.However, the role of states in utilising 50-year interest-free loans has been equally impressive, with many states showcasing signature projects and demonstrating their capacity to absorb more funds, she added.

After three consecutive months of heavy selling, foreign portfolio investors (FPIs) turned net buyers in the first week of February, infusing more than Rs 8,100 crore in Indian equities, aided by improving risk sentiment, along with a trade deal with the US.The inflows follow sustained withdrawals in recent months, with FPIs pulling out Rs 35,962 crore in January, Rs 22,611 crore in December, and Rs 3,765 crore in November, data with the depositories showed.Overall, in 2025, FPIs pulled out a net Rs 1.66 lakh crore (USD 18.9 billion) from Indian equities, marking one of the worst periods for foreign flows. The selling was driven by volatile currency movements, global trade tensions, concerns over potential US tariffs and stretched equity valuations.According to the data, FPIs invested Rs 8,129 crore in this month (till February 6).Himanshu Srivastava, principal manager- research at Morningstar Investment Research India, said the recent buying reflects improving risk appetite and renewed confidence in India's growth outlook."The sentiment was supported by easing global uncertainties, stability in domestic interest rate expectations, and optimism around India-US trade and policy developments," he added.The turnaround contrasts sharply with January's outflows, when FPIs exited Indian markets amid a global risk-off environment and elevated US bond yields.Echoing similar views, Vaqarjaved Khan, senior fundamental analyst at Angel One, said the breakthrough in India-US trade talks helped reduce geopolitical uncertainty and fuel a market rally, alongside stabilising US yields and supportive measures announced in the Union Budget for FY26, including fiscal stimulus and sector-specific incentives.VK Vijayakumar, chief investment strategist at Geojit Investments, said the appreciation of the rupee also played a key role in improving sentiment. The rupee strengthened from a record low of 90.30 against the dollar, although it later weakened to around 90.70 by the close of February 6.He said the rupee is expected to stabilise and gradually appreciate to below 90 per dollar by the end of March 2026, which could trigger additional FPI inflows, although outcomes will depend on how global trade and artificial intelligence-related developments unfold.Market participants remain cautiously optimistic. Further inflows could materialise if corporate earnings momentum continues and global trade tensions remain contained, although lingering rupee weakness, elevated valuations and potential shifts in US policy could limit upside, Khan said.

The combined market valuation of eight of the top 10 valued firms jumped by a whopping Rs 4.55 lakh crore last week, with Reliance Industries emerging as the biggest winner, in line with a remarkable rally in equities.Last week, the BSE benchmark surged by 2,857.46 points or 3.53 per cent.From the top-10 pack, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Bajaj Finance, Life Insurance Corporation of India (LIC), and Hindustan Unilever were the gainers, while Tata Consultancy Services (TCS) and Infosys saw their valuations erode.The combined market valuation of the eight firms was Rs 4,55,336.36 crore.Reliance Industries added Rs 1,41,887.97 crore, taking its market valuation to Rs 19,63,358.79 crore.LIC's valuation zoomed Rs 64,926.1 crore to Rs 5,70,198.54 crore. The market valuation of Bharti Airtel surged Rs 52,516.39 crore to Rs 11,62,288.64 crore and that of ICICI Bank jumped Rs 52,476.97 crore to Rs 10,06,258.82 crore.The market capitalisation (mcap) of Bajaj Finance climbed Rs 48,659.83 crore to Rs 6,10,830.20 crore and that of State Bank of India by Rs 45,460.79 crore to Rs 9,84,353.06 crore.HDFC Bank's valuation advanced by Rs 32,350.28 crore to Rs 14,48,249.63 crore and that of Hindustan Unilever appreciated by Rs 17,058.03 crore to Rs 5,69,482.18 crore.However, the market valuation of TCS eroded by Rs 88,172.8 crore to Rs 10,64,242.35 crore.The mcap of Infosys declined by Rs 63,462.66 crore to Rs 6,26,067.95 crore.IT stocks faced selling last week in-line with weak trends in tech firms globally amid valuation-related worries and concerns around the rapid pace of artificial intelligence advancements.Reliance Industries remained the most valued firm followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Infosys, Bajaj Finance, LIC and Hindustan Unilever.