President Trump claims American tariffs imposed on India for purchasing Russian oil have negatively impacted Russia's economy, referring to India as Russia's major oil buyer. He also mentioned plans to meet with Putin and Zelenskyy, and claimed to have solved several wars, including the conflict between India and Pakistan.
Amid escalating India-US trade tensions, Nita Mukesh Ambani Cultural Centre -- the tony cultural event outfit run by billionaire Mukesh Ambani's wife -- has postponed next week's theatrical event in New York, citing "unforeseen circumstances".
'Techies who did a master's there and moved to US companies look down on Indian companies who they consider as just doing body shopping.'
Pakistan's Army Chief Field Marshal Asim Munir met with Chinese President Xi Jinping, along with Pakistani Prime Minister Shehbaz Sharif, to discuss bilateral and regional cooperation. The meeting occurred during Sharif's visit to China for the Shanghai Cooperation Organisation (SCO) summit.
Speaking shortly after, Trump stated he had yet to speak with Ukrainian President Volodymyr Zelenskyy but would do so imminently, along with other European leaders. He suggested a formal deal was not yet in place.
Russian President Vladimir Putin briefed Prime Minister Narendra Modi on his summit talks with US President Donald Trump on ending the war in Ukraine.
Russia announces its withdrawal from a self-imposed moratorium on deploying intermediate-range missiles, citing escalating tensions with the US and the repositioning of American nuclear submarines.
Trump also repeated his claim that seven fighter jets or more were shot down during the hostilities.
Former White House trade advisor Peter Navarro has criticised India for continuing to procure Russian oil, alleging profiteering and contributing to the Russia-Ukraine war. India defends its energy procurement as driven by national interest and market dynamics.
A senior Russian diplomat has called the US pressure on India for its procurement of Russian crude oil "unjustified," expressing confidence in continued energy cooperation between India and Russia despite external pressures.
Equity markets this week would keenly track the upcoming GST Council meeting, macroeconomic data announcements and trading activity of foreign investors for further movement, analysts said. Moreover, developments related to tariff negotiations, global market trends and auto sales data would also drive investors' sentiment.
Indian envoy Vinay Mohan Kwatra discussed fair, balanced and mutually beneficial trade ties with US lawmakers amid ongoing tariff tensions between New Delhi and Washington.
US Vice President JD Vance says he is ready to lead the country if a 'terrible tragedy' occurs, amid speculation about President Trump's health. He insists Trump is in good health and will serve his full term.
"We are contributing about 18 per cent, which is more than the US where the contribution is expected to be much less -- about 11 per cent or something. We are doing very well and we will continue to improve further," RBI governor Sanjay Malhotra said, replying to a question on Trump's recent comments.
Zelenskyy, in a social media post, said Ukraine appreciates India's dedication to "peace and dialogue".
India has become Apple's main export hub to the US, which consumes over $40 billion worth of iPhones annually.
'One Chinese interlocutor said India should realise that "China can do without India, but India could not do without China", pointing to its inability to do without Chinese intermediates and components,' former foreign secretary Shyam Saran discovers on a visit to China.
Putin further described the Ukraine conflict as a mere "pretext" by Western powers to take these broader punitive measures against countries maintaining strong economic ties with Russia.
Chinese President Xi Jinping told Prime Minister Narendra Modi that India and China should approach their relations from a "strategic" and "long-term perspective" during their talks in Tianjin. Xi also emphasized upholding multilateralism and working towards a multipolar world.
The summit, scheduled for Friday, marks the first in-person meeting between the leaders of the US and Russia in over four years.
To shield against US President Donald Trump's tariff shock, analysts have been advising investors to focus on stocks of domestic-oriented companies, rather than export-centric ones, to minimise potential losses.
The relations between New Delhi and Washington are on a downturn after Trump doubled tariffs on Indian goods to a whopping 50 per cent, including a 25 per cent additional duties for India's purchase of Russian crude oil.
'When the Galwan incident took place, that was a big break in the trust factor between India and China.'
India has voiced regret over the Ukraine conflict's 'collateral consequences', including prices of fuel, saying countries of the Global South have been left to fend for themselves, as Delhi underscored that diplomatic efforts hold the promise to end the war and bring lasting peace.
Trump signed three executive orders related to AI, including a White House action plan, an order that establishes a coordinated national effort to support the American AI industry by promoting the export of full-stack American AI technology packages.
'Russia, as you know, lost almost 25,000 over the last month and a half. Ukraine lost just a few, and lots of people are dying.'
'Trump does have a master plan in mind to put pressure on India with the additional tariff of 25 per cent to get Modi to persuade Russian President Vladimir Putin to freeze the Ukraine war.' 'It has not worked so far. By end-September only we'll know for sure the future trajectory of India's oil purchases from Russia,' observes Ambassador M K Bhadrakumar.
Former World Bank Chief Economist Kaushik Basu on Thursday said the US economic policy towards India has taken an unfortunate turn, noting that President Donald Trump's harsh stance against New Delhi appears baffling. US President Donald Trump on Wednesday announced a 25 per cent tariff on Indian goods from August 1, amid signs of a stalemate in the ongoing bilateral trade negotiations between the two countries.
As the potential threat of a steep 200 per cent tariff on pharmaceutical imports hangs in the air, analysts and industry insiders feel that focus on exports to non-US regions as well as domestic market will increase as a long-term trend. US President Donald Trump told CNBC's Squawk Box in the first week of August that planned tariffs on import of pharmaceutical products to the US could eventually reach up to 250 per cent.
The trade relationship between India and the United States has been strained by the imposition of 25% tariff by the US on Indian goods.
'Things may get much worse before they get better,' predicts Ajay Chhibber.
Rising for the sixth consecutive session, gold prices rallied Rs 1,000 to hit yet another record high of Rs 105,670 per 10 grams in the national capital on Monday, lifted by expectations of a rate cut by the US Federal Reserve this month and robust demand in overseas markets.
Gor underlined that President Trump has a "deep friendship" with Prime Minister Narendra Modi, and that is something that is unique.
Prime Minister Narendra Modi is visiting Japan and China to further national interests and build cooperation for regional and global peace.
'Amazon, Meta, Google, Microsoft have large operations in India and rely on smooth trade and data flows.' 'Restrictions could raise their costs, limit AI chip exports, and complicate their India strategies.'
Stressing that wars are "very bad", Trump said that he seems to have "an ability to end them, to get people together" for which he uses the "power of the United States".
India on Friday officially submitted its proposal to host the 2030 Commonwealth Games, marking a significant step in its ambition to bring the multi-sport event back to the country after two decades.
Trump reiterated that he is not negotiating on behalf of Ukraine, but rather aiming to bring the parties to the negotiating table.
'For the region and for the world, the US working with both those nations is good news.'
'What the US appears to be doing is to force India to be "the buyer of last resort", on whom their products can be dumped, 1.4 billion people have to eat something, so why not eat American corn?' 'What is exercising the Trump lot is the fact that most of the farms are in solidly Republican Midwestern states: Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, Wisconsin,' points out Rajeev Srinivasan.
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