6 February 2026

• India-US deal finalised: A joint statement confirms the reciprocal tariff framework; US removes the 25 per cent penal tariff linked to Russian oil imports through Executive Order 14384.
• Economy: January trade deficit data discussed; merchandise deficit hit $34.68 billion in January 2026, a three-month high.
• Science: Fluorescent proteins as quantum sensors: two separate university studies in Nature show that certain proteins can detect magnetic fields, with potential for cancer diagnostics.
• Polity: Parliamentary privilege debate intensifies as Opposition speeches are expunged under Rule 380 of Lok Sabha procedure.

GS area: International Relations, Economy (Trade policy)

The United States issued Executive Order 14384 removing the 25 per cent penal tariff that had been linked specifically to India's Russian oil imports.

• Background: In July 2025 the Trump administration imposed a 50 per cent "reciprocal" tariff on Indian exports and an additional 25 per cent penal tariff on countries that continued importing Russian oil at significant levels. India was among those affected.
• What changed: Under the joint statement of 6 February 2026, the penal tariff (25 per cent) was lifted immediately via Executive Order 14384. The residual 18 per cent tariff (reduced from 50 per cent) remains in place pending a full bilateral trade agreement.
• Effective tariff level: At 18 per cent, India faces better terms than most Asian competitors. The interim deal makes India a preferred partner under Section 122 of the US Trade Act, 1974.
• Russia's share: India's Russian crude imports have already fallen from 37.88 per cent to 32.18 per cent of total imports as refiners diversify. Venezuelan crude, sanctioned at various points but currently accessible, is one destination for diverted volumes.

Static linkage: India-US relations, WTO, energy security (IR/Economy).

GS area: Economy (External trade, Balance of payments)

India's merchandise trade deficit rose to $34.68 billion in January 2026, the highest in three months.

• Import growth: Imports rose 12 per cent month-on-month to $71.24 billion. Gold imports surged following the Budget's import duty adjustments. Electronics imports remain elevated.
• Export decline: Merchandise exports fell 5 per cent to $36.56 billion. US tariff uncertainty affected garments, footwear and sports goods. Electronics held up better (22 per cent growth in November was not sustained into January).
• Current account deficit implications: A wider trade deficit puts pressure on the current account. India's current account deficit is typically financed by services surplus (IT, software), remittances and capital inflows.
• Services trade: India consistently runs a services trade surplus. The IT sector's services export revenue (roughly $250 billion annualised) partially offsets the goods deficit.
• WPI vs CPI: Wholesale price inflation is tracked separately by the Office of the Economic Adviser under the Ministry of Commerce and Industry. The January WPI print will be released mid-month.

Static linkage: Balance of payments, current account, trade policy (Economy).

GS area: Science and Technology

Two independent university studies published in Nature show that fluorescent proteins found in living cells can detect magnetic fields and radio waves. They function as biological quantum sensors.

• The two proteins:
  • Enhanced Yellow Fluorescent Protein (EYFP): studied at the University of Chicago.
  • MagLOV proteins: studied at Oxford University.
• Quantum sensing: Quantum sensors exploit quantum mechanical properties (superposition, entanglement) to measure physical quantities with extreme precision. Conventional quantum sensors require cryogenic (near absolute zero) temperatures.
• Why these proteins matter: EYFP and MagLOV function at room temperature inside living cells. This eliminates the cooling requirement that makes current quantum sensors impractical for biological applications.
• Applications: Drug discovery (mapping magnetic fields in cells reveals protein interactions), cancer diagnostics (tumour cells have different magnetic signatures from healthy tissue) and personalised medicine.
• GS angle: This is the kind of science-technology item prelims tests through a single-fact stem: "which of the following proteins has been found to function as a quantum sensor?"

Static linkage: Biotechnology, quantum technology (Science and Technology).

GS area: Polity (Parliament)

The Leader of the Opposition in the Rajya Sabha formally complained that Opposition speeches were being expunged so heavily under Rule 380 that the remaining text was "incoherent."

• Article 105: Grants freedom of speech in Parliament to its members. Members cannot be sued in court for anything said in Parliament. This is parliamentary privilege.
• Rule 380: Empowers the presiding officer to expunge from the official record any word, phrase or statement considered "defamatory, indecent, unparliamentary or undignified." Expunged portions are replaced with asterisks.
• The tension: Privilege protects what members say inside the House. But expunging removes it from the official record, making the protection operationally narrower. Critics argue the power is used to suppress political criticism.
• Rajya Sabha context: The Rajya Sabha is the Council of States. Its members are indirectly elected by state legislative assemblies, except for 12 nominated members. The Chairman of the Rajya Sabha is the ex-officio Vice-President of India.

Static linkage: Parliamentary privileges, Article 105, Parliament functioning (Polity).

GS area: Economy (Foreign investment)

India's net FDI was negative $1.6 billion in December 2025. This was the fourth consecutive month of negative net FDI.

• Net FDI formula: Gross inflows minus repatriations minus outward FDI by Indian companies.
• Gross inflows: $8.6 billion (a five-month high). The top sources were Singapore, the Netherlands and Mauritius, which collectively accounted for over 80 per cent.
• Repatriations: Approximately $7.5 billion, the highest since January 2021. Foreign companies repatriating profits is normal, but the surge reflects investor uncertainty about the India-US trade deal and its impact on supply chains.
• Outward FDI: $2.7 billion by Indian companies investing abroad. This is not itself a problem; Indian multinationals investing abroad can return dividends later.
• RBI attribution: The Reserve Bank of India attributed the hesitation to uncertainty around the India-US interim trade agreement and its supply-chain implications for export-oriented sectors.

Static linkage: FDI policy, balance of payments, external sector (Economy).

• BRICS Centre for Industrial Competencies: The National Productivity Council was designated as India's nodal body for the BRICS Centre for Industrial Competencies. The Centre supports manufacturing firms and MSMEs across BRICS countries in adopting Industry 4.0 technologies.
• Operation Kiya: A joint counter-terrorism operation by the Army, J&K Police and CRPF in Basantgarh, Udhampur district. Part of sustained anti-infiltration operations in the Jammu region following the October 2025 Pahalgam attack.