President-elect Donald Trump's warning that BRICS countries will face 100 per cent tariffs if they choose to move away from the US dollar is unclear to what extent he will carry out his threat, as it remains to be seen if the US laws permit such an action, former RBI Governor Duvvuri Subbarao said on Monday. He also said even for BRICS, there are internal differences about bringing out an alternative to the US dollar.
'While the President has been critical of India, he has gone out of his way to compliment PM Modi. They have an incredible relationship.'
India supports dialogue and diplomacy and not war, Prime Minister Narendra Modi said at the Brazil, Russia, India, China, South Africa (BRICS) Summit in Kazan, Russia on Wednesday, in an unambiguous message calling for resolution of the Russia-Ukraine conflict through peaceful negotiations.
Earlier, police froze Rs 8 crore linked to Saraswati and parked in multiple bank accounts and fixed deposits.
Russia has a "special mechanism" to confront any challenge arising out of the US slapping punitive measures against India for its procurement of Russian crude oil, Russian charge d'affaires Roman Babushkin said on Wednesday.
New Delhi 'will have to take a call which supply source suits us the best,' the finance minister said, pointing out that crude oil accounts for the bulk of India's foreign exchange spend.
A meeting with Chinese President Xi Jinping on the sidelines of the SCO summit is being planned.
China's foreign ministry on Monday parried questions on a possible meeting between Prime Minister Narendra Modi and President Xi Jinping on the sidelines of the BRICS summit in Russia this week.
Russian President Vladimir Putin will travel to India in December, Kremlin foreign policy aide Yuri Ushakov said. Putin will meet Prime Minister Narendra Modi on the sidelines of the Shanghai Cooperation Organisation (SCO) Summit in China's Tianjin city to discuss the preparations for his visit to India.
There has never been a moment in India's history when it has been so adrift in the world, so confused about what it stands for and against and so humiliated, asserts Aakar Patel.
In a joint declaration issued after the 16th BRICS Summit in the Russian city of Kazan attended by Prime Minister Narendra Modi and Chinese President Xi Jinping, among others, the leaders reiterated unequivocal condemnation of terrorism in all its forms and manifestations while reaffirming that it should not be associated with any religion, nationality, civilisation or ethnic group.
The 16th Brics Summit beginning Tuesday in Kazan, Russia, is expected to see more focus on creating a sharper energy policy for Brics that ensures closer partnership among members in both energy security and energy transition, official sources said. The same is expected to be a part of the Kazan declaration, currently being negotiated, they added.
Prime Minister Narendra Modi and Chinese President Xi Jinping are set to meet in Tianjin on Sunday, their first in about 10 months, for wide-ranging talks aimed at improving relations.
India would neither succumb to the Americans on issues of national security, such as its defence ties with Russia, nor cede ground on its domestic interests in the agriculture and dairy sectors.
President Putin and Prime Minister Modi greeted each other with a warm hug, after which they walked towards the stage for a family photo of the SCO members.
Prime Minister Narendra Modi and Chinese President Xi Jinping vowed to work towards a "fair, reasonable, and mutually acceptable" resolution of the festering boundary issue and pledged to work towards stabilising global trade.
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.
Prime Minister Narendra Modi on Friday said it is important for India and China to work together to bring stability to the world economic order as he asserted that New Delhi is ready to advance bilateral ties from a strategic and long-term perspective based on mutual respect, mutual interest and mutual sensitivity.
China has expressed its support for Russia's initiative to revive the Russia-India-China (RIC) troika, emphasizing its importance for regional and global security and stability.
'Prime minister is expected to hold some bilateral meetings on the sidelines of the SCO summit.'
Describing the visit as "productive" in a post on X, the PM said he emphasised India's position on key global issues during his engagements.
The United States announced a 25 per cent tariff on India as the White House released an expansive list of duties that Washington, DC will impose on exports from countries around the world.
Prime Minister Narendra Modi and Chinese President Xi Jinping held bilateral talks focusing on economic ties and global stability amid trade tensions and the aftermath of the Ladakh border row.
'Modi's a great leader... But I don't understand why he's getting into bed with Putin and Xi Jinping...'
India has cautioned against 'double standards' regarding its energy procurement from Russia, asserting that it is based on national interests and market dynamics, following a threat of secondary sanctions from NATO Secretary General Mark Rutte.
Putin expressed concern over the situation in Gaza, and said Palestinian President Mahmoud Abbas has been invited to BRICS events.
China firmly opposes the Trump administration's 50 percent tariffs on India as it is "unfair and unreasonable" and New Delhi and Beijing should scale up economic ties to jointly counter the challenge, Chinese ambassador Xu Feihong said on Monday.
An Indian commerce ministry team will soon visit Washington for another round of talks on the proposed trade agreement with the US to iron out differences in sectors, like agriculture and automobiles, a government official said on Thursday.
'America holds about 16% of IMF voting rights, giving it crucial influence over Pakistan's desperately needed bailout loans.'
'We need to be very vigilant as we are passing through some fraught times.'
The collective West has always opposed strong leaders and economic development in India, asserts Colonel Anil A Athale (retd).
The way to deal with a bully is to resist bullying, because submission in the first instance only invites even more overbearing demands in future. What may seem like a small price to pay now will lead to a much higher price later, warns former foreign secretary Shyam Saran.
Describing the India-United States relationship as 'very complicated', US Treasury Secretary Scott Bessent on Wednesday hoped that 'at the end of the day, we will come together.'
Trump's new rules for how countries should treat him have led to the current breakdown in India-US relations, explains Ambassador T P Sreenivasan.
'...it should not delude itself into thinking that India's security or its great-power ambitions will be advanced by those partnerships.'
'Instead, what India should focus on is on riding out the next three-and-a-half years of Trump's presidency with minimal damage to itself.'
NSA Ajit Doval has indicated that dates for Russian President Vladimir Putin's visit to India are being worked out during his meetings in Moscow. Discussions also covered bilateral energy and defence cooperation, amidst ongoing concerns over India's procurement of Russian crude oil.
New Delhi, while opting not to retaliate yet to the American tariffs, has in recent weeks sought to reinforce its friendship with Moscow, and recalibrate its ties with Beijing rather than surrender to Washington's diktats.
Prime Minister Narendra Modi and Chinese President Xi Jinping are expected to hold bilateral meetings on the sidelines of the SCO summit in Tianjin, as both nations look to strengthen ties amid global trade tensions.
'Just as we cannot surrender the interests of our farmers and dairy industry, Trump is also looking for markets for the produce of the farmers in the Midwest, which are his support base.'
India and Russia always stood "shoulder-to-shoulder" even in the most difficult situations, Prime Minister Narendra Modi told Russian President Vladimir Putin on Monday, against the backdrop of possibly the worst phase in New Delhi's ties with the US in over two decades.
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