Narendra Modi

Money Moves

Co-architect of Canada-India reset

Sixteen months ago, Canada and India had no ambassadors in each other's capitals. Ottawa had accused New Delhi of orchestrating the assassination of a Canadian citizen on Canadian soil, and both countries expelled six of each other's diplomats in a single day. On March 2, 2026, Canadian Prime Minister Mark Carney and Indian Prime Minister Narendra Modi signed five agreements worth $5.5 billion, launched free trade negotiations, and set a target of increasing bilateral trade from $9 billion to $50 billion by 2030.

Updated Mar 2

New Capabilities

Project champion and public face of the initiative

India declared the Asiatic cheetah extinct in 1952—the only large predator to vanish from the country since independence. Seventy years later, the government launched Project Cheetah, flying in 20 African cheetahs from Namibia and South Africa to Kuno National Park in a first-of-its-kind intercontinental carnivore translocation. Three and a half years in, the population has grown to 38, with 27 cubs born on Indian soil.

Updated Feb 18

New Capabilities

Inaugurated Inya VoiceOS and AI Impact Summit 2026

India has 22 official languages and over a thousand dialects, but until recently, none of the world's leading AI systems could reliably understand most of them. On February 17, 2026, Prime Minister Narendra Modi inaugurated Inya VoiceOS, a 5-billion-parameter voice-to-voice AI model that processes speech natively in more than 15 Indian languages—built, trained, and deployed entirely within India. It marks the first time a non-Western nation has produced a frontier voice AI model designed for its own population at scale.

Updated Feb 17

New Capabilities

Third consecutive term; architect of Make in India initiative

For decades, India's aerospace manufacturing remained almost entirely in government hands. Hindustan Aeronautics Limited, the state-owned monopoly established in 1940, built every military aircraft and helicopter on Indian soil. On February 17, 2026, that era effectively ended when Prime Minister Narendra Modi and French President Emmanuel Macron inaugurated India's first private-sector helicopter assembly line—a Tata-Airbus facility in Karnataka that will manufacture the H125, Airbus's best-selling single-engine helicopter.

Updated Feb 17

Rule Changes

Serving third consecutive term

India has been the world's second-largest buyer of Russian oil since 2022, snapping up discounted crude while Western nations sanctioned Moscow. On February 2, 2026, President Donald Trump announced that Prime Minister Narendra Modi had agreed to stop those purchases entirely in exchange for American tariff cuts from 50% to 18%, ending a trade war that had escalated for nearly a year. A US-India Joint Statement released around February 6-9 outlined an Interim Trade Agreement framework, confirming India's intent to purchase $500 billion in US energy, technology, aircraft, and coal over five years; tariff reductions/eliminations on US goods; and US suspension of the additional 25% Russian oil tariff effective February 7 via Executive Order. However, Modi has publicly confirmed only the tariff reduction, Indian refiners received no instructions to halt imports, and the deal lacks full binding enforcement amid shadow logistics risks.

Updated Feb 11

Built World

Serving third term as Prime Minister

When Prime Minister Narendra Modi announced the Jal Jeevan Mission from the Red Fort on Independence Day 2019, just 16.7% of rural Indian households had tap water connections. Six years later, that figure has climbed to 81.6%—representing 157.9 million households now receiving piped water in their homes. The program has connected roughly 12.5 crore (125 million) new households, making it one of the fastest and largest infrastructure expansions in human history.

Updated Feb 10

Rule Changes

Leading government response to Economic Survey 2026

India surpassed Japan in mid-2025 to become the world's fourth-largest economy. On February 1, 2026, Finance Minister Nirmala Sitharaman presented the Union Budget 2026, introducing a sweeping overhaul of India's tax code—the first major rewrite since 1961—while allocating a record ₹12.2 lakh crore for capital expenditure and ₹20,000 crore for carbon capture technologies. The budget came as the government faces new external pressures: the United States had imposed combined 50% tariffs on several Indian exports in 2025, yet India proved more resilient than expected. Just one day later, on February 2, India and the United States finalized a landmark trade agreement reducing U.S. tariffs on Indian goods from 50% to 18%, bringing India's trade burden in line with regional competitors. Prime Minister Narendra Modi had called the preceding Economic Survey a glimpse of the 'Reform Express,' stating India's momentum is accelerating even during difficult times.

Updated Feb 6

Money Moves

Secures US trade deal reducing tariffs to 18%, easing rupee/trade pressures alongside fiscal support

In 2025, under Governor Sanjay Malhotra, the Reserve Bank of India (RBI) cut its repo rate by a cumulative 125 basis points—from 6.50% in February to 5.25% on December 5—its sharpest easing since 2019, paired with $16 billion in liquidity injections via bond purchases and a dollar-rupee swap to support what Malhotra termed a rare Goldilocks period of sub-target inflation and strong growth. On February 6, 2026, the RBI's Monetary Policy Committee unanimously held the repo rate at 5.25%, marking a pause in the easing cycle as the central bank shifted its focus from rate cuts to liquidity management through open market operations, citing firm government bond yields and persistent currency volatility despite the trade deal relief.

Updated Feb 5

Built World

Serving third term, flagship infrastructure agenda

India's railways date to 1853, when the first train ran 21 miles from Bombay to Thane under British colonial rule. For 170 years, long-distance overnight travel meant cramped, aging coaches. On January 17, 2026, India launched its first high-speed sleeper train—a 16-coach air-conditioned service covering 958 km between Howrah and Guwahati (Kamakhya) in 14 hours, three hours faster than existing options. The train entered commercial service on January 22, 2026, with a strict policy: no VIP quota, digital transactions only, and confirmed tickets exclusively. Recent announcements confirm plans for 260 Vande Bharat Sleeper trainsets to transform long-haul travel.

Updated Feb 5

Built World

Navigating US trade reset and tariff talks alongside steadfast Russia partnership

On December 5, 2025, Russian President Vladimir Putin and Indian Prime Minister Narendra Modi met in New Delhi for the 23rd India–Russia Annual Summit and unveiled a 'Programme for Economic Cooperation' through 2030 aiming to boost annual trade to about $100 billion and diversify beyond oil and arms, including joint weapons production, a urea plant, agriculture, health, shipping, labor mobility, and a free trade agreement with the Eurasian Economic Union despite looming US sanctions.

Updated Feb 5

New Capabilities

Leading India's defense modernization and Israel partnership since 2014

India's Defence Acquisition Council approved an $8.7 billion arms package from Israel in January 2026—1,000 SPICE-1000 precision bomb kits that can hit targets 125 kilometers away in GPS-jammed environments, plus air-to-air missiles, loitering munitions, radars, and networked command systems. The deal cements India as Israel's largest defense customer, accounting for 34% of Israeli exports from 2020-2024. Within days, reports emerged that India is also acquiring Air LORA ballistic missiles (400-kilometer range), Ice Breaker cruise missiles (300-kilometer range), and additional Rampage missiles, with full technology transfer agreements enabling domestic production.

Updated Jan 31

Rule Changes

Hosted EU leaders for Summit and Republic Day

India and the European Union became strategic partners in 2004. Twenty-one years later, at the 16th EU-India Summit on January 27, 2026, they signed a Security and Defence Partnership that makes India the third Asian country—after Japan and South Korea—to gain formal access to European defence initiatives. The two sides also concluded negotiations on a historic free trade agreement covering 2 billion people and representing a combined market of $27 trillion. Once the FTA completes legal vetting and enters force in 2027, Indian firms will be able to participate in the EU's €150 billion SAFE rearmament programme.

Updated Jan 30

Rule Changes

Concluded FTA negotiations with EU; announced deal alongside von der Leyen and Costa on January 27

After 19 years, 14 formal rounds, and a January sprint that defied skeptics, India and the European Union concluded their free trade agreement on January 26, 2026. EU leaders Ursula von der Leyen and António Costa, attending India's Republic Day as chief guests, jointly announced the deal with Prime Minister Narendra Modi on January 27. Von der Leyen called it 'the mother of all deals'—a pact creating a free trade zone of 2 billion people and a combined market of $27 trillion, representing 25% of global GDP. President Droupadi Murmu hailed the agreement in her January 28 address to Parliament, marking formal political ratification on both sides.

Updated Jan 28

Rule Changes

Announced central ex‑gratia relief to victims’ families

Late on December 6, 2025, a fire ripped through the Birch by Romeo Lane nightclub in Arpora, Goa, after indoor fireworks ignited highly flammable décor in a packed venue with a single narrow exit. Around 100 people were on the dance floor; many fled downstairs toward the kitchen and basement, where they and staff were trapped by smoke and blocked escape routes. Twenty‑five people died—most of them workers—and roughly 50 were injured, in a state whose economy leans heavily on nightlife and tourism.

Updated Dec 11, 2025