The Indian rupee plummeted to an all-time low of 95.80 against the US dollar, settling at 95.66, driven by elevated crude oil prices and escalating geopolitical tensions in West Asia, despite potential RBI intervention and import curbs on gold.
Financial year 2025-26 (FY26) saw a significant shift in corporate fundraising, with rights issues more than doubling to a multi-decade high of 51, raising 44,290 crore, while qualified institutional placements (QIPs) more than halved to 29 issues, mobilising 62,954 crore, driven by sharp equity market corrections and regulatory changes.
A 500 per cent tariff would effectively shut out India's goods and services exports to the US.
Indian equities on Dalal Street saw volatility as global market trends and fresh tariff concerns linked to Donald Trump impacted investor sentiment. Track Sensex, Nifty50 movement and key market drivers for Feb 24, 2026.
US President Donald Trump and Chinese President Xi Jinping began a crucial two-day summit in Beijing on Thursday, with both leaders signalling a desire to stabilise relations between the world's two biggest economies despite deep disagreements on trade, Taiwan, technology and security issues.
India and New Zealand are poised to sign a free trade agreement (FTA) on April 27 in New Delhi, aiming to provide tariff-free access for Indian goods to New Zealand's market and attract USD 20 billion in investment over the next 15 years.
The deal shifts the US posture towards India from hostile to neutral, and that matters for growth, points out T T Ram Mohan.
Commerce and Industry Minister Piyush Goyal announced that an interim trade agreement between India and the US is likely to be signed in March and operationalised in April, with chief negotiators meeting in Washington to finalize the details.
The turning point came with the appointment of Sergio Gor as the US ambassador to India.
US President Donald Trump met with Chinese President Xi Jinping in Beijing to discuss trade, technology, Taiwan, and the Iran war. Xi Jinping said that 2026 will be a 'historic, landmark year' for China-US relations.
The US said India will lower tariffs on a "vast array" of American industrial and agricultural goods, such as "fruits, vegetables", to zero per cent under the trade deal announced by President Donald Trump.
India and the US are expected to sign the first phase of a bilateral trade agreement by mid-March, which will result in the US lowering import duties on Indian goods. India will then begin reducing import duties on certain US goods.
India and the US are expected to sign the first phase of a bilateral trade agreement by mid-March, which will result in the US lowering import duties on Indian goods. India will then begin reducing import duties on certain US goods.
Equity benchmark indices Sensex and Nifty experienced a significant decline, primarily driven by a selloff in IT stocks due to concerns about AI disruption and renewed worries over global trade.
Indian equity markets closed higher, driven by gains in PSU bank, auto, and financial stocks, following the US Supreme Court's decision on tariffs. Sensex climbed 479.95 points to 83,294.66, and Nifty advanced 141.75 points to 25,713.
'Trump says India will buy over $500 billion of US goods.' 'At present, India's annual imports of goods and energy from the US are under $50 billion.' 'Reaching $500 billion would likely require more than 20 years, suggesting the figure refers to a long-term aspiration rather than a near-term commitment.'
President Trump is celebrating the US-India trade deal as a landmark achievement, with a major focus on boosting American coal exports to India and other trade partners.
Trump's outburst comes amid escalating tensions between the US and its northern neighbour, following recent remarks by Canadian Prime Minister Mark Carney at the World Economic Forum (WEF) in Davos.
Piyush Goyal on Friday rejected reports suggesting that India is planning to hold off trade deal with the United States for several months.
'Based on the joint statement, a formal agreement will be drafted, which may take a month or month-and-a-half to finalise. We aim to sign the formal agreement by mid-March.'
The White House has revised a fact sheet on the interim trade deal between the United States and India, removing the reference to "pulses" from the list of American products on which India would eliminate or reduce tariffs. The revised sheet also changed "committed" to "intends" regarding India's purchase of American products.
The Congress MP said he had been "troubled" by the US tariff regime from the very beginning, adding that India was already at a disadvantage compared to its regional competitors.
United States Senator Lindsey Graham on Sunday claimed that Indian Ambassador to the US Vinay Mohan Kwatra spoke to him last month about India buying less Russian oil and asked him to tell President Donald Trump to relieve the 25 per cent tariff.
Chinese President Xi Jinping warned US President Donald Trump that mishandling the Taiwan issue could trigger conflicts between the two countries during wide-ranging talks on trade, Iran, and energy security.
US and India will promptly implement this framework and work towards finalising the interim agreement with a view to concluding a mutually beneficial bilateral trade agreement.
Both countries commit to provide each other preferential market access in sectors of respective interest on a sustained basis
'The March correction was clearly due to the war and with prospects of that coming to a conclusion, there is a natural rally.'
India has clarified its position on the proposed interim trade agreement with the US, stating that the joint statement remains the basis for mutual understanding. Amendments to a White House fact sheet reflect shared understandings, with both sides working towards finalizing the agreement.
In the wake of the FTA between India and the European Union, the United States has described the Europeans as 'very disappointing', saying they were unwilling to join Washington, DC in putting tariffs on New Delhi for its purchases of Russian oil because of this trade deal.
Indian equities on Dalal Street saw volatility. Track Sensex, Nifty50 movement and key market drivers for Feb 25, 2026.
'Even if the war ends tomorrow, which is unlikely, and we go back to the pre-war status quo, the world will still need some time to get over the sudden shock of oil price increases.'
India has completely protected the interests of its agriculture and dairy sector in the India-US trade agreement.
The country's exports rose marginally by 0.61 per cent to $36.56 billion in January, while trade deficit widened to a three-month high of $34.68 billion, government data showed on Monday.
In a veiled attack on US President Donald Trump, Canada's Minister of Energy and Natural Resources Tim Hodgson on Tuesday said India's free trade agreement with the European Union is a "perfect" answer to global hegemons that use tariffs and economic integration as tools of coercion.
Trump made the announcement in response to what he described as China taking "an extraordinarily aggressive position on trade" by sending "an extremely hostile letter to the world."
India's marine product exports facing rough weather from punitive US tariffs are expected to get a big boost following the reduction of 26 per cent tariff as part of the India-EU Free Trade Agreement (FTA), but concerns over non-tariff barriers, which are a dominant aspect of marine trade to the EU, still remain.
US Treasury Secretary Scott Bessent indicated a potential pathway to remove tariffs imposed on India for purchasing Russian oil, citing a significant decrease in such purchases. He also criticized Europe's approach and accused India of profiting from discounted Russian oil.
Sharp differences between Iran and the UAE over the West Asia conflict were on full display during the BRICS foreign ministers' meeting in New Delhi, signalling the challenges the bloc faces in reaching a consensus position on the crisis.
United States President Donald Trump has brushed aside French President Emmanuel Macron's call for an emergency G7 meeting amid escalating tensions over Washington, DC's push to acquire Greenland, while Europe has warned of retaliatory trade action against US tariff threats.
Stock market benchmark indices Sensex and Nifty surged in early trading session on Tuesday after India and the US agreed to a trade deal under which Washington will bring down the reciprocal tariff on Indian goods to 18 per cent from current 25 per cent.
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