Unagreed agreement between India and the US. One of the most important events for India to have taken place in February 2026 seemed to be the country’s trade deal with the  US, announced on the second day of the month and pertaining mainly to a mutual decrease in tariffs. However, it soon became clear that the trade deal is still being negotiated. Moreover, its legal status in the US proved to be uncertain, while it is also not clear if India agreed to discontinue its imports of Russian crude as part of the agreement. In other major news, India’s Prime Minister Narendra Modi visited Israel – as it turned out, barely days before the country attacked Iran. Moreover, Afghanistan and Pakistan clashed at the end of the month; Islamabad accused Delhi of supporting the Afghan Taliban. Download the entire February compilation with commentary here.

India signs an FTA with the EU. On January 27, India and the EU announced signing of an agreement that would lead to a significant lowering of tariffs in their bilateral trade. This may lead, among others, to rising exports of European goods such as vehicles and processed food to India, as well as of imports of Indian textiles into the EU. In other news, significant disturbances occurred in India’s neighbourhood: in the final day of January, Pakistani forces clashed with Balochi separatists. Pakistan’s interior minister accused the New Delhi government of being behind the attacks. At the time of writing, the Indian government has not issued any counterclaim to this accusation, but it is obvious that it will refute it. Download the entire January compilation with commentary here.