A peace treaty is signed between Peshwa Bajirao and Jai Singh II following Maratha victory in the Battle of Bhopal.

Bajirao I was the 7th Peshwa of the Maratha Empire. He was appointed Peshwa at the age of nineteen by Shahu I, following the death of his father, Balaji Vishwanath. He is credited with establishing the Marathas as the supreme power in the Indian subcontinent, displacing Mughal dominance.

Sawai Jai Singh II, was the 30th Kachwaha Rajput ruler of the Kingdom of Amber, who later founded the fortified city of Jaipur and made it his capital. He became the ruler of Amber at the age of 11, after the untimely death of his father Mirza Raja Bishan Singh on 31 December 1699.

The Maratha Empire, also referred to as the Maratha Confederacy, was an early modern polity in the Indian subcontinent. It comprised the realms of the Peshwa and four major independent Maratha states under the nominal leadership of the former.

The Battle of Bhopal was fought on 24 December 1737 in Bhopal between the Maratha Empire and the combined army of the Mughal chiefs, Nizam of Hyderabad, Rajput kingdoms and the Kingdom of Oudh in which Marathas under the leadership of Peshwa Bajirao I were victorious.

January 7 is the seventh day of the year in the Gregorian calendar; 358 days remain until the end of the year.