New Delhi: Foreign Minister S Jaishankar’s visit to Washington has yielded a significant reset in India-United States economic engagement, as New Delhi and Washington signalled movement toward a phased trade pact and deeper cooperation on critical minerals that both sides describe as central to their energy and technology security. In a series of high-level interactions with US Secretary of State Marco Rubio, Jaishankar welcomed a newly announced trade agreement between President Donald Trump and Prime Minister Narendra Modi, discussed formalising collaboration in the exploration, mining, and processing of critical minerals, and reaffirmed a shared commitment to the Quad and a stable Indo-Pacific. The developments mark a clear shift from the tariff tensions that had characterised bilateral ties since 2025 and set the stage for closer economic, strategic, and supply chain coordination.
Jaishankar, who is in the United States from February 2 to 4, met Rubio at the State Department on Tuesday ahead of the inaugural Critical Minerals Ministerial convened by Washington. After the meeting, he said on X that the discussions were “wide ranging” and covered “trade, energy, nuclear, defence, critical minerals and technology,” adding that both sides agreed on early meetings of various mechanisms to advance shared interests. Rubio, in his own post, said the talks focused on working together to “unlock new economic opportunities” through cooperation on critical minerals.
A State Department readout said both leaders “welcomed the trade deal reached between President Trump and Prime Minister Modi,” noting that it represented a major step toward recalibrating economic relations. Under the agreement, Washington will reduce its effective tariffs on Indian goods to around 18 per cent, down from levels that had reached as high as 50 per cent because of punitive duties imposed during recent trade disputes. US officials said this would make Indian products more competitive in the American market and ease frictions that had intensified over the past year.
In return, India has agreed to lower tariffs and non-tariff barriers on selected US goods, with some segments potentially moving to zero duty. US exporters are expected to gain improved access in areas such as energy, defence equipment, aircraft, telecommunications, and pharmaceuticals, while New Delhi has indicated willingness to divert parts of its petroleum and liquefied natural gas imports toward the United States, subject to further negotiations.
Indian sectors including textiles, gems and jewellery, engineering products, chemicals, leather, and marine products are projected to benefit from expanded US market access. American agricultural exports, along with machinery and technology products, are also expected to see greater penetration in India, while protecting sensitive domestic farm segments. The announcement has already boosted investor sentiment, with Indian equity markets and the rupee registering gains.
Officials have described the accord as the “first phase of a comprehensive economic partnership”, with both governments targeting bilateral trade of $500 billion by 2030 under initiatives such as the US-India COMPACT framework. The deal follows a period of escalating tariffs and diplomatic strain that began last year.
On critical minerals, Rubio and Jaishankar discussed formalising cooperation in exploration, mining, and processing, a domain both governments regard as vital for clean energy, advanced manufacturing, and national security. Jaishankar is scheduled to participate in the Critical Minerals Ministerial, where US Vice President JD Vance, Rubio, and senior White House and State Department officials will deliver opening remarks aimed at strengthening and diversifying global supply chains.
The meeting concluded with both sides reiterating their commitment to expanding bilateral and multilateral collaboration through the Quad, underlining that a prosperous and secure Indo-Pacific remains central to their shared strategic and economic priorities.
Turkish Airlines flight makes emergency landing at Kolkata airport
The aircraft, operated by Turkish Airlines, landed safely at Netaji Subhas Chandra Bose International Airport with full emergency measures activated. Airport fire and rescue teams were placed on high alert as the plane touched down, and the engine fire was brought under control by 1.51 pm, the ministry said.
Airport officials confirmed that all safety protocols were followed during the emergency landing. There were no reports of injuries to passengers or crew members, and all those on board were safely evacuated after the aircraft was secured.
Officials said further inspection of the aircraft would be carried out to determine the exact cause of the engine fire, while arrangements were being made for passengers affected by the unscheduled diversion.
Meanwhile, all passengers, crew members and the captain were shifted to a hotel. An AAI official said that another aircraft is scheduled to arrive around 4 am on Thursday, with passengers expected to depart at around 6 am.