Page 18 - Policy Economic Report - Feb 2026

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

• Imports of Pulses (-46.94%), Newsprint (-29.33%), Chemical Material & Products (-24.6%), Iron &
Steel (-18.77%), Coal, Coke & Briquettes, Etc. (-16.56%), Project Goods (-14.78%), Wood & Wood
Products (-8.35%), Organic & Inorganic Chemicals (-7.62%), Transport Equipment (-5.27%), Pearls,
Precious & Semi-Precious Stones (-2.64%), Textile Yarn Fabric, Made-Up Articles (-2.41%) and
Petroleum, Crude & Products (-0.24%) record negative growth during January 2026 over the
corresponding month of last year.

• Services exports is estimated to grow by 10.57 percent during April-January 2025-26 over April-
January 2024-25.

• Top 5 export destinations, in terms of change in value, exhibiting growth in January 2026 vis a vis
January 2025 are U Arab Emts (29.27%), China P Rp (55.65%), Hong Kong (98.72%), Netherland
(20.47%) and Italy (32.1%).

• Top 5 export destinations, in terms of change in value, exhibiting growth in April-January 2025-26
vis a vis April-January 2024-25 are China P Rp (38.37%), U S A (5.85%), U Arab Emts (9.56%), Spain
(48.39%) and Hong Kong (30.72%).

• Top 5 import sources, in terms of change in value, exhibiting growth in January 2026 vis a vis
January 2025 are Switzerland (836.85%), U Arab Emts (48.38%), China P Rp (16.67%), U S A
(23.71%) and U K (75.38%).

• Top 5 import sources, in terms of change in value, exhibiting growth in April-January 2025-26 vis
a vis April-January 2024-25 are China P Rp (13.82%), U Arab Emts (12.03%), U S A (13.87%), Hong
Kong (27.02%) and Singapore (14.2%).

6. AI Impact Summit 2026 Concludes with Adoption of New Delhi Declaration
The AI Impact Summit 2026, held in New Delhi on 18–19 February, concluded with the adoption of
the New Delhi Declaration on AI Impact, marking a significant milestone in global cooperation on artificial
intelligence.

The Declaration has been endorsed by 91 countries and international organisations, reflecting a broad-
based global consensus on leveraging AI for economic growth and social good.

A Shared Global Vision for AI

Guided by the principle of “Sarvajan Hitaya, Sarvajan Sukhaya” (Welfare for all, Happiness for all), the
Declaration underscores that the benefits of AI must be equitably shared across humanity.

It emphasizes:

• Strengthening international cooperation and multistakeholder engagement
• Respecting national sovereignty
• Advancing AI through accessible, and trustworthy frameworks

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