New India Budget Takes Aim at Trade Threats

Watch on YouTube ↗  |  February 03, 2026 at 13:47  |  3:31  |  Bloomberg Markets
Speakers
Swati Pandey — Bloomberg Asia Pacific Reporter

Summary

India's government released a budget aimed at shielding the economy from US tariffs while maintaining fiscal restraint. The plan includes support for exporters, small and medium businesses, textiles and leather, strategic minerals, and semiconductor manufacturing, alongside efforts to build trade ties through free trade agreements. Bloomberg's Swati Pandey notes questions remain over whether the budget can boost growth and employment.

  • India budget seeks to buffer economy from 50% US tariffs.
  • Fiscal deficit reduction and inflation control are key budget focuses.
  • Exporters and tariff-hit textiles and leather get support proposals.
  • Budget includes help for strategic minerals and semiconductor manufacturing.
  • India is pursuing FTAs with EU, UK, New Zealand and others.
  • Questions remain on growth and youth employment impact.
Ideas
Swati Pandey Bloomberg Asia Pacific Reporter 1:06
Budget backs India semiconductor self-reliance.
The budget includes announcements to boost semiconductor manufacturing as part of India's self-reliance strategy, aiming to reduce reliance on imports and shield the economy from US tariffs. This creates a policy-supported setup for India's semiconductor manufacturing theme, though execution and timing are uncertain.
India semiconductor manufacturing MED
Swati Pandey Bloomberg Asia Pacific Reporter 1:06
India supports rare earth magnet processing.
The budget includes announcements to help India's strategic minerals industry and relaxes tax on imports of equipment for processing rare earth magnets as part of a self-reliance push. This is a policy-supported setup for India's strategic minerals and rare-earth magnet processing, though it is not yet a clean directional trade.
India strategic minerals REMX MED
Swati Pandey Bloomberg Asia Pacific Reporter 2:04
India budget aims to buffer economy.
India's budget aims to shield the economy from 50% US tariffs through support for exporters, SMEs, textiles and leather, strategic minerals, and semiconductor manufacturing while maintaining fiscal restraint and pursuing trade agreements and FTAs. This is a policy-supported setup for India assets, though questions remain about growth and employment.
INDA MED
Swati Pandey Bloomberg Asia Pacific Reporter 2:22
Budget supports Indian textiles and leather.
The government announced proposals to support textiles and leather industries, which are highly affected by the 50% US tariffs, as part of its primary plan to provide sops to exporters. This creates a policy-supported setup for Indian textile and leather sectors, though tariff risk remains.
Indian textiles Indian leather MED
Up Next
51:56
What’s the Future of Vertical SaaS in an AGI World? Jamie Cuffe, CEO of Pace
Sequoia Capital · Feb 03
1:02:09
Why The Laws of Startup Physics Have Changed | Ben Horowitz Interview
ILTB Podcast · Feb 03
18:14
Pyth Network: The Bloomberg of Crypto? ft. Mike Cahill
Real Vision · Feb 03
42:59
Stocks Extend Rebound Rally as Palantir Sparks Tech Momentum | Bloomberg Brief 2/3/2026
Bloomberg Markets · Feb 03
1:35:37
Musk's SpaceX Merges with xAI, Gold Bounces Back | The Opening Trade 2/3/2026
Bloomberg Markets · Feb 03

This Bloomberg Markets video, published February 03, 2026, features Swati Pandey discussing India semiconductor manufacturing, India strategic minerals, REMX, INDA, Indian textiles, Indian leather. 4 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Swati Pandey  · Tickers: India semiconductor manufacturing, India strategic minerals, REMX, INDA, Indian textiles, Indian leather