India will face no difficulty in purchasing goods worth $500 billion from the United States over the next five years, with Commerce and industry minister Piyush Goyal calling the number “very conservative” given the scale of demand expected from the country’s expanding economy.Speaking to PTI Videos in an interview on Sunday, Goyal said India’s import demand is projected to touch about $2 trillion over the next five years, creating significant scope to increase sourcing from the US.

“We are even today importing 300 billion dollars of goods that can be imported from the US. We are importing from all over the world. That is going to grow up to two trillion in the next five years…I told my counterparts that look, I can assure you that there is demand in India, but you have to be competitive,” he said.

Trade pact framework and import roadmap

India and the US on Saturday announced that they have finalised the framework for the first phase of the bilateral trade agreement. According to a joint statement issued by both sides, India has expressed its intention to purchase $500 billion of US energy products, aircraft and aircraft parts, precious metals, technology products and coking coal over the next five years.Goyal said rising investments by global technology firms in India are expected to significantly increase demand for equipment imports. He said large data centre expansion is likely to drive demand for US-origin technology and equipment.“My sense is that we will see 10 gigawatts of data centres” in India, he said, adding that the US can supply key equipment required for such infrastructure.

Aviation demand and existing order pipeline

Responding to a query on whether the $500 billion purchase plan includes existing aircraft orders, including Boeing deals, Goyal said current commitments are part of the overall figure.“Everything that we are talking about is in continuation and includes what we already are purchasing,” he said.He added that India currently imports about $45-50 billion worth of goods from the US, largely in categories where domestic production is limited.“We are going to need aircraft. We are going to need engines for aircraft. We are going to need spare parts. We already have $50 billion worth of orders on Boeing alone for aircraft. We have orders for engines,” he said.The minister said aviation sector demand alone could cross $100 billion over the next five years.“So, almost 80, 90 billion (dollars) is already on order for the next five years. We will actually need more than that. I read the other day that Tata plans to place some more orders. My sense is we need at least a 100 billion dollar plus only for the aviation sector, in addition to oil, LNG, LPG, and crude oil,” he said.

Steel, energy and technology to drive future imports

Goyal also flagged strong demand for coking coal to support steel sector expansion.India is already importing about 17-18 billion tonnes of coking coal, he said, adding that rising steel production could push import demand sharply higher.“When we reach 300 billion, which is a stated target and expansion is going on at breakneck speed in the steel industry. We’ll need 30 billion dollars per year for cooking coal alone. And all of these products I’m mentioning are already being imported since the Congress time, since the UPA was in power. Nothing new,” he said.The minister said rising consumption and industrial demand in the world’s fastest-growing major economy will continue to drive imports of high-end technology and industrial inputs.“There’s a growth of demand and consumption of all of these products. In addition, we announced in the budget that we want to promote data centres, we want to promote the AI mission, and we want to promote critical manufacturing and critical minerals processing in India. All of this will require high-quality machinery, ICT products, and Nvidia chips, as well as machinery for AI for quantum computing. Where is all of that going to come from?” he said.Goyal said the US remains the world’s leading provider of advanced technologies.“So, 100 billion (dollars per year) is very conservative. I think it’s extremely conservative for a country which wants to become a 30 trillion dollar economy, which India intends to,” he added.

NEW DELHI: Commerce and industry minister Piyush Goyal has said Indian exporters will enjoy a “competitive advantage” in the US market under the interim trade framework, arguing that an 18 per cent tariff on Indian goods compares favourably with higher duties imposed on others.Speaking after a day after US President Donald Trump signed an executive order reducing tariffs on Indian imports to 18 per cent, Goyal dismissed criticism that New Delhi conceded too much by accepting the rate while offering duty-free access to American goods.

Also read: Piyush Goyal hails negotiators behind FTAs after India-US trade dealIn an exclusive interview with PTI, Goyal pointed out that China faces tariffs of 35 per cent, while several other countries are subject to duties of 19 per cent or more, positioning India more favourably in relative terms.The executive order removes a 25 per cent additional duty imposed in August 2025, which had been layered on top of an earlier 25 per cent reciprocal tariff, pushing effective duties on some Indian exports to as high as 50 per cent. The new 18 per cent rate marks a significant rollback and restores India’s standing in the US market after months of strain linked to New Delhi’s purchases of Russian oil.Goyal said a short document could not reflect the full scope of the agreement and insisted that adequate safeguards had been built in, particularly for farmers. “I am very excited about the future of India. I can see before my eyes these international engagements, we have concluded nine agreements across the world, in the East and the West, covering different continents and 38 countries. Thirty-seven of them are developed; Mauritius has a largely Indian-origin population and does not compete with us. These 38 countries represent a very large share of global GDP. They are rich economies that largely do not compete with us and are mostly complementary.”He added, “I can see the huge potential that going international will provide for our farmers, fishermen, workers, businesses, investors, and MSMEs, creating many job opportunities. Effectively, we have opened large markets, in addition to India’s own fast-growing large economy, enabling economies of scale. High-quality manufacturing and service delivery can become the hallmark of India. This is the path to Viksit Bharat 2047.”Goyal also framed India’s trade negotiations as being conducted from a position of strength. “That’s what is our negotiating strength,” he said, noting that India is currently a $4 trillion economy but is projected to grow to $30–35 trillion by 2047. “And that is the confidence that india has today, that delta of opportunity from 4 trillion to 30-35 trillion, that is the future we offer.”

India‘s T20 World Cup 2026 campaign began with a mix of pressure, resilience, and humour as the Men in Blue registered a thrilling win over the USA at the Wankhede Stadium in Mumbai. While the match demanded composure on a challenging surface, it was a candid post-match moment involving Suryakumar Yadav and Arshdeep Singh that caught fans’ attention and quickly went viral.

India recover after shaky start against USA

Asked to bat first, India found scoring difficult on a pitch that offered grip and inconsistent bounce. Early wickets and a sluggish outfield prevented the batters from playing with complete freedom, putting the onus on the middle order to stabilise the innings. Suryakumar shouldered the responsibility with maturity, anchoring the innings while waiting for support from the other end.

That support arrived in an unexpected yet impactful form when Arshdeep walked in during the 17th over. With India still searching for momentum, the left-arm pacer showed fearless intent straightaway.

Brief cameo that shifted momentum

Arshdeep announced himself with a daring stroke, lifting left-arm spinner Harmeet Singh cleanly over his head for a boundary. The shot not only fetched four runs but also injected belief into India’s innings. The 22-run stand between Suryakumar and Arshdeep came off just 14 deliveries and proved vital in pushing India towards a competitive total.

Although Arshdeep was dismissed for 4, his aggression had already served its purpose. Suryakumar capitalised on the momentum, striking two boundaries and a six in the following overs to finish strongly. His composed yet attacking knock of 84 off 49 balls ensured India posted a total that kept them firmly in the contest.

Also WATCH: Badshah, Nora Fatehi set the T20 World Cup 2026 opening ceremony ablaze with their power-packed performances

Suryakumar Yadav’s playfully teases Arshdeep Singh after India’s win

After the match, a video shared on social media showcased the lighter side of Indian players. Suryakumar, responding to Arshdeep’s praise for his innings, returned the compliment with humour, crediting the pacer’s fearless mindset for changing the course of the game.

He jokingly remarked that Arshdeep’s “unbelievable intent” had earned him the right to bat at No.8, drawing laughter from teammates and fans alike. The exchange struck a chord online, underlining the strong camaraderie within the squad.

“Thank you, paaji. Partnership ekdam tagdi rahi, maza aa gaya. Aapse thoda sa motivation mila tujhe. Aapne hee contribute kiya. Intent aapka unbelievable tha. Jahan se aapne chaunka maara udhar se hee game change ho gaya. Aapne earn kar liya batting No.8 par,” said Suryakumar.

Here’s the video:

Pata hain hum match kahan jeete? 😂#INDvUSA #T20WorldCup pic.twitter.com/L0STkAm68O

— Punjab Kings (@PunjabKingsIPL) February 7, 2026

Also READ: Fans go crazy as Suryakumar Yadav orchestrates India’s dominant win over USA in T20 World Cup 2026

Storm Marta batters Spain and Portugal (Representative image)

Fresh storms and torrential rain battered Spain and Portugal on Saturday, triggering widespread flooding, evacuations and major transport disruptions across the Iberian Peninsula, just days after earlier storms caused deadly damage in the region.In Portugal, the latest weather system — named Storm Marta — prompted the deployment of more than 26,500 rescue workers as authorities responded to rising waters, landslides and flood risks across several regions. Flood alerts remained in place in both Portugal and neighbouring Spain, where hundreds of roads were blocked, rail services disrupted and thousands of residents forced to leave their homes.In Spain, southern regions, particularly Andalusia, were placed on orange alert amid heavy rain and violent storms, while parts of the northwest also faced severe weather warnings. Andalusia’s regional president Juan Manuel Moreno described the situation as “complex”, with dozens of roads cut off, rail traffic largely suspended and more than 11,000 people evacuated. The farming sector has been severely affected, with repair costs for damaged infrastructure expected to exceed 500 million euros.Authorities closed the historic Roman bridge over the Guadalquivir river in Cordoba as a precaution, while Sevilla Football Club’s home match against Girona was postponed to ensure public safety. Evacuated residents from hard-hit areas such as Grazalema were sheltered in temporary accommodation, including gymnasiums in nearby cities.The severe weather also disrupted civic life in Portugal, where three municipalities postponed a presidential vote scheduled for Sunday due to safety concerns. The risk of flooding along the Tagus river in the Santarem region remained at its highest level, although waters further south along the Sado river had begun to recede.CasualtiesThe storms claimed another life on Saturday when a 46-year-old volunteer member of Portugal’s emergency services drowned while attempting to cross a flooded area near Campo Maior in the central Portalegre district. Local media reported that the man encountered difficulties in strong floodwaters, becoming the first confirmed victim of Storm Marta.The death adds to a growing toll from a series of recent storms. Storm Kristin killed five people in Portugal last week, while Storm Leonardo claimed another life earlier this week. Authorities said Leonardo also forced the evacuation of around 1,100 people across the country.Background: a deadly series of stormsSpain and Portugal have faced an unusual succession of intense weather systems in recent weeks, with meteorologists pointing to increasingly volatile climatic conditions in the region. Portuguese Prime Minister Luis Montenegro described 2026 as a “particularly unusual year” marked by “exceptionally violent” weather events.According to the Portuguese Environment Agency, dams across the country were forced to release a volume of water equivalent to Portugal’s annual consumption within just three days during the recent storms, highlighting the scale of the rainfall.The Iberian Peninsula is considered one of Europe’s regions most exposed to climate change, with scientists warning of longer heatwaves and more frequent episodes of extreme rainfall in recent years. The latest storms have reinforced concerns about growing weather volatility across southern Europe.The impact has extended beyond the peninsula, with Morocco also reporting severe storms in recent days that displaced around 150,000 people in the country’s northwest.

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Stock market trends this week will be influenced by multiple factors including inflation data, foreign investor activity, and global market movements especially in light of the India US trade deal announcement. The market are also expected to react to Q3 earnings reports and geopolitical developments, as analysts closely watch these indicators to gauge market direction.Big companies like Titan, Mahindra & Mahindra, Ashok Leyland, ONGC, Bajaj Electricals, and Eicher Motors will release their Q3 results this week. These results could cause stock-specific movements in the market.A significant development also came with India and the US reaching a trade deal on Saturday. The US will cut tariffs on Indian goods from 50 per cent to 18 per cent. In return, India will reduce or remove import duties on US industrial goods and various food products including nuts, fruits, and spirits.“This week features several important domestic and global triggers. In India, investors will closely track retail inflation data due on February 12 and foreign exchange reserves data on February 13, for insights into price trends and external sector stability,” says Ajit Mishra from Religare Broking Ltd, as quoted by news agency PTI.The market also entered a consolidation phase after processing the Union Budget 2026 and RBI’s monetary policy decisions. “Overall sentiment remains cautiously optimistic, with markets expected to stay event-driven in the near term, tracking global cues, capital flows and geopolitical developments in the Middle-East,” said Ponmudi R, CEO of Enrich Money.Last week showed strong market performance, with the BSE benchmark rising by 2,857.46 points (3.53%) and Nifty gaining 868.25 points (3.49%). Investors will also keep an eye on global factors, particularly the US data calendar and Nasdaq Composite’s performance following its recent decline.(Disclaimer: Recommendations and views on the stock market and other asset classes given by experts are their own. These opinions do not represent the views of The Times of India)