Commerce minister Piyush Goyal on Saturday said India and the United States (US) have finalised an interim trade deal framework aimed at boosting bilateral trade to $500 billion annually. Addressing a press conference, he said the framework, concluded late last night, has generated widespread excitement across India, opening new opportunities for farmers, exporters, and industries.

India intends to purchase energy, minerals, technology products and aircraft parts worth $500 billion from the US over the next five years, according to the joint statement issued earlier in the day by the two countries on an interim framework for a bilateral trade deal, which includes additional market access commitments and support for more resilient supply chains.

The interim trade framework agreed between India and the United States has offered cautious relief to India’s auto and auto component exporters, even as several operational details remain unresolved.

The joint statement signals intent to lower trade frictions and improve market access, but industry bodies say clarity on tariffs, especially under the US’s national security provisions, is still awaited before the real impact can be assessed.

The US on Saturday announced it would remove the additional 25 per cent tariffs imposed on Indian goods linked to the purchase of Russian oil, marking a key step in easing trade tensions between the two countries.

According to an executive order issued by the White House, the removal of the extra duties will take effect from 12.01 am Eastern Standard Time on February 7, 2026. From then on, Indian products imported into the US will no longer face the additional tariff imposed under an earlier executive order.

Shares of Indian information technology (IT) companies slid on Friday, capping their worst weekly performance in four months, as concerns resurfaced that rapid advances in artificial intelligence (AI) could disrupt traditional technology services businesses. The Nifty IT index fell 1.5 per cent on Friday and declined 6.4 per cent over the week.

The selloff erased about ₹1.51 trillion in market capitalisation from IT stocks.

The Reserve Bank of India (RBI) on Friday said customers will be compensated up to Rs 25,000 for small-value digital frauds, with the central bank and banks sharing the cost, while customers will bear a small portion of the loss.

“It is also proposed to introduce a framework to compensate customers up to an amount of Rs 25,000 for loss incurred in small-value fraudulent transactions,” said Sanjay Malhotra, Governor, Reserve Bank of India.

Mahindra Group on Friday said it will invest Rs 15,000 crore in Maharashtra over the next ten years, which includes setting up an automobile and tractor manufacturing facility in Nagpur.

In addition, Mahindra will acquire land in the Igatpuri-Nashik region to expand current product and engine capacities.

External Affairs Minister S Jaishankar on Friday hailed the India-EU Free Trade Agreement as a "game changer" while addressing the inaugural India-EU Forum, organised by the Ananta Centre in partnership with the Ministry of External Affairs.

More than a decade after India first got a taste of cab on the app, a disruptor has entered the market trying to change the ride-hailing landscape.

The Ministry of Cooperation formally launched Bharat Taxi, a government-backed service, in the national capital region (NCR) and some parts of Gujarat on Thursday even as the market was sensing the arrival of new competition for some weeks now.

It is an exciting time for Air India and the changes will manifest in the air as well as on the ground this year, the airline's chief Campbell Wilson said as the Tata Group-owned carrier opened its new lounge at the Delhi airport.

The airline will also be opening lounges in San Francisco, New York and other cities.

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