
The episode examines the India‑US interim trade agreement, which has moved from a tariff announcement to a flashpoint in India’s February 2026 budget session. Opposition parties are framing the pact as a “trap deal,” launching parliamentary attacks and street protests that link the deal to concerns over farmers, digital governance, labour rights, and strategic autonomy. While the deal’s headline terms remain intact, the primary risk for businesses is implementation uncertainty, with expected clarifications, carve‑outs, and political signaling over the next 30‑90 days. Exporters are advised to prepare for sector‑specific tariff benefits despite the volatile political environment.
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