Piyush Goyal

Rule Changes

Says first tranche finalised; implementation awaits tariff-advantage clarity

In February 2026, President Donald Trump cut tariffs on Indian goods from 50% to 18% after Prime Minister Narendra Modi said India would stop buying Russian oil, and India put $500 billion of US energy, aircraft and technology purchases on the table over five years. No binding agreement has been signed. The US Supreme Court then struck down the reciprocal tariff regime that the 18% rate rested on, leaving duties on Indian exports unsettled.

Updated Oct 31

Rule Changes

As of May 2026: Defending government policies

India's Parliament passed four labor codes in 2020 that condensed 29 existing laws into a streamlined framework. After codes took effect in November 2025, approximately 300 million workers struck February 12, 2026, disrupting banking, transportation, and industry across over 600 districts—organizers called it the largest coordinated labor action since reforms began.

Updated May 27

Rule Changes

As of May 2026: Announced FTA conclusion; expects implementation by end of 2026

After 19 years, 14 formal rounds, and a January sprint that defied skeptics, India and the European Union concluded their free trade agreement on January 26, 2026. EU leaders Ursula von der Leyen and António Costa, attending India's Republic Day as chief guests, jointly announced the deal with Prime Minister Narendra Modi on January 27.

Updated May 20