Economy

European climate and energy policies are set to be among the issues discussed by the EU leaders at their informal gathering in Belgium on Feb. 12.

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

The terms of reference (ToR) outline the scope and modalities of a proposed trade pact. Commerce and Industry Minister Piyush Goyal presided over the signing ceremony of the ToRs with GCC.

Banks have also raised the matter with Financial Benchmarks India Ltd., which sets valuation prices for bonds, in separate meetings over the last few months, they added.

Senior US officials will visit India for the signing event and details of the agreement will be shared afterward, sources said.

Economists also do not expect major changes in growth or inflation forecasts. In December, the RBI raised its GDP growth projection for FY26 by 50 basis points to 7.3%.

Economists see RBI keeping the repo rate unchanged as inflation rises from recent lows, growth holds up and the impact of earlier easing continues to filter through the economy.

At the ministerial hosted by US Secretary of State Marco Rubio, India backed the newly launched Forum on Resource, Geostrategic Engagement (FORGE).

Jaishankar highlighted India's efforts towards greater resilience through initiatives including National Critical Minerals Mission and Rare Earth Corridors.

Japan's currency has weakened for the past four trading days, and is approaching 157 against the dollar on Thursday morning.

Markets put the chance of a quarter point rate cut at less than 1% and only one of 32 economists surveyed expects a reduction.

The move will meaningfully boost offtake for Indian solar manufacturers, support scale up of exports, and deepen longterm supply linkages between the two countries, he noted.

Igor Yushkov, a leading expert at the National Energy Security Fund, said that Indian refiners cannot fully stop the import of Russian crude.

RBI reduced the repo rate by 25 basis points in the December monetary policy review.

Experts are of the view that the RBI has already reduced the key short-term lending rate (repo) by 125 basis points since last February.

Maybe India landed at a better tariff rate than its neighbours, but we won't know for sure until we see the full agreement.

Sitharaman also gave details of the Budget that blends traditional support for agriculture and rural jobs with a renewed push for skilling and youth-centric training frameworks to meet emerging labour market needs.

A spokesperson for the RBI didnt respond to an email seeking comment.

A lack of details regarding the India-US trade deal was flagged by Opposition leaders in Parliament.

India's budget offers a five-year tax exemption on foreign income for non-resident professionals in approved schemes, aiming to attract global talent in electronics and semiconductors.