The India-US trade deal has offered a much-needed breather for the Indian information technology (IT) industry, which has been grappling with global macroeconomic uncertainty and subdued client spending over the past few years.
Modi also said that President Trump's leadership is vital for global peace, stability, and prosperity.
Lavrov's comments came two days after Russia accused the US of attempting to prevent India and other countries from buying Russian oil, saying Washington was using a wide range of 'coercive' measures, including tariffs, sanctions and direct prohibitions.
India has completely protected the interests of its agriculture and dairy sector in the India-US trade agreement.
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 and the European Union (EU) on Tuesday announced the conclusion and finalisation of negotiations for the proposed free trade agreement (FTA).
The government on Wednesday put out the draft of a new policy that projects the country's power sector will need Rs 50 trillion in investments by 2032 and Rs 200 trillion by 2047, proposing ambitious reforms in generation, transmission and distribution.
The US has temporarily permitted India to accept Russian oil already on ships to ensure energy supplies amid the conflict with Iran. This short-term measure is not expected to significantly benefit Russia financially.
'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.'
As one of the federal appeal courts in the United States ruled that most of tariffs imposed by Trump administration are not accordance with the laws, US President Donald Trump on Friday (local time) affirmed that all tariffs imposed on the countries will remain in effect, calling a recent ruling by a 'highly Partisan Appeals Court' incorrect.
Stock market benchmark indices Sensex and Nifty ended 2.5 per cent higher 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.
Trump announced that India and the US agreed to a trade deal under which Washington will charge a reduced reciprocal tariff on Delhi, lowering it from 25 per cent to 18 per cent.
Foreign portfolio investors (FPIs) withdrew a substantial amount from Indian equities in the first half of March, driven by geopolitical tensions, rupee depreciation, and concerns about crude oil prices.
Jaguar Land Rover will begin assembling premium cars at its new Tamil Nadu plant on February 9, marking a step towards full-scale luxury car manufacturing in India.
US Treasury Secretary Scott Bessent's remarks come ahead of a high-level summit where India and the European Union are expected to formally announce the conclusion of negotiations on a comprehensive free trade agreement.
The proposed trade deal with the 27-nation European Union (EU) is expected to provide zero-duty access to the $95 billion European market for Indian textile and apparel manufacturers. Currently, India's share of the European market is just 6 per cent, or $5.5 billion.
Speaking to reporters aboard Air Force One, Trump stated, "We have a deal," referring to the trade pact which will be routinely extended. "Every year we'll renegotiate the deal, but I think the deal will go on for a long time, long beyond the year. We'll negotiate at the end of the year," he added.
The India-US ties witnessed a major downturn after President Trump slapped a whopping 50 per cent tariff on Indian goods, including a 25 per cent punitive levy over Russian oil purchases.
The imposition of a 100 per cent tariff by the US on imports of branded and patented pharmaceutical products starting October 1 may not significantly hurt Indian drug makers, with Sun Pharma being exposed to some headline risk but with limited earnings impact, according to analysts. Among Indian companies, only Sun Pharma has sizeable sales from patented drugs in the US (about 17 per cent of 2024-25 revenue), HSBC Global Investment Research said in a report.
The crisis may not be as visible this time, but the stakes are just as high, points out Rajeswari Sengupta.
India's merchandise exports experienced a slight decrease in February, while imports surged due to increased gold and silver purchases, leading to a widened trade deficit. The West Asia crisis is expected to further impact trade in the coming months.
Textiles, pharmaceuticals, chemicals, engineering goods, gems and jewellery exports will receive a boost from the free trade agreement between India and the 27-nation European Union, according to exporters.
Senior Congress leader Shashi Tharoor says US tariffs are negatively impacting India, leading to job losses, and criticizes President Trump's diplomatic behavior.
The rupee, which was the worst performing Asian currency in 2025 and also in January, was the best performing Asian currency on Tuesday.
Greer said that India has taken down some digital services taxes and is moving tariffs down.
Foreign Portfolio Investors (FPIs) remained in a selling mode in January, withdrawing nearly Rs 36,000 crore (about $3.97 billion) as global uncertainties persisted. Meanwhile, a higher securities transaction tax (STT) proposed in the Union Budget may weigh on overseas investor participation in the near future.
'Traders and exporters will have to explore alternative markets.'
India will maintain multiple sources for crude oil purchases and diversify them to ensure stability in the supply chain with national interests remaining the "guiding factor" for the procurement, Foreign Secretary Vikram Misri said.
Donald Trump's tariffs, meant as political punishment, have avoided the predicted chaos, lifting US growth, weakening rivals, and letting him claim victory in a resilient global economy, observes T T Ram Mohan.
Brave statements such as we will continue to be the fastest growing large country are of no consolation, because the direction of trade also determines the flow of investment, points out M Govinda Rao.
'We will be able to anticipate the full picture of the impact after August, which is also the time when demand for a year begins to peak ahead of the December holidays and Valentine's Day.'
President Trump announces 100% tariffs on movies made outside the US, potentially impacting the Indian film industry. The move follows similar tariffs on pharmaceutical products.
In the present hyper-connected world, there are many domestic and global factors that affect financial markets. Of them, the most powerful and often least predictable are geopolitical events, which often boil down to one diplomatic headline.
The Trump administration has told the US Supreme Court that it imposed tariffs against India for purchasing Russian energy products as part of its strategy to address the war in Ukraine.
US President Donald Trump warned India about potential tariffs for continuing to purchase oil from Russia, claiming he received assurances from Prime Minister Narendra Modi that India would halt such purchases.
Let us start with ourselves. If we can reduce our LPG consumption by half, the problem is solved. Reduce wastage. Alter eating styles. Diversify methods of food preparation, suggests Vice Admiral Biswajit Dasgupta (retd).
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.
India's economy experienced a growth of 7.8 per cent during the October-December quarter of 2025-26, according to the new series of national accounts with 2022-23 as the base year.
Trump said California has been particularly "hard hit" because of this, blaming democrat Gavin Newsom, the Governor of California, for this loss, calling him "weak and incompetent."
'Except for extremely conservative investors, others can consider allocating 10 to 20 per cent of their portfolio to small caps.'
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