🏦 Economy / Policy
• US has cut tariffs on Indian goods to 18%, with India agreeing to end Russian oil purchases; move is expected to support double-digit growth in textile exports 💹
• Manufacturing PMI rose to 55.4 in January, led by strong new orders and hiring, signalling expansion momentum 📈
• Power consumption increased 3.8% YoY to 142.74 billion units in January, reflecting steady industrial activity ⚡
• Duty-free import of lithium-ion battery scrap is expected to boost investments in recycling and the circular economy, says MRAI 🔋📈
• India’s only rare earth producer received a modest capex hike, indicating gradual capacity strengthening 🏭
🏢 Companies / Sectors
• Indian refiners may need a wind-down period to halt Russian oil imports, given operational and sourcing adjustments 🛢️⚠️
• Tyre industry welcomed the Budget’s infrastructure-led growth focus, expecting demand tailwinds 🚗📈
• Budget thrust on high-speed rail and inland waterways is expected to boost steel demand 📊
• India–EU FTA could enable European carmakers to launch new models faster in India, intensifying competition 🚘📈
🌍 Global / World
• UK Lords committee flagged potential risks for domestic industries under the India–UK free trade agreement, calling for safeguards ⚠️