India's financial markets rallied sharply on February 3 after a trade deal that slashed U.S. tariffs on Indian goods to 18% from 50%, a development that investors said lifts a key negative for the country's stocks, bonds and currency.
Breakdown
- India secures a trade deal with the US, cutting tariffs to 18% 8s
- Nifty 50 index rises 3%, rupee posts best day in over three years 20s
- Deal includes India agreeing to halt Russian oil purchases 39s
- Moody's says India unlikely to stop Russian oil imports rapidly 47s
- Indian markets had suffered since US tariffs imposed in 2025 1m 11s