Prime Minister Narendra Modi and United States President Donald Trump on Monday vowed to work towards a 'trusted' partnership with a focus on boosting India-US cooperation in areas of trade, energy and defence in their first phone conversation since the American leader's inauguration last week.
India and the United States will finalize the contours, schedule of negotiations, and terms of reference for a proposed bilateral trade agreement (BTA) during a three-day meeting beginning Tuesday. The agreement is expected to be finalized in two tranches, with the first phase focusing on goods trade. The US team, led by Assistant US Trade Representative for South and Central Asia Brendan Lynch, will be in India from March 25-29 to discuss the agreement. Both countries are aiming to conclude the first phase of the agreement by fall 2025.
India and the US have decided to hold sector-specific talks in the coming weeks to finalise the structure of the proposed bilateral trade agreement (BTA), the government said on Saturday. The engagement between the two countries came in the backdrop of the USA's threat to impose reciprocal tariffs on its key trading partners, including India, on April 2.
The government has signed Bippas with 72 nations.
Prime Minister Shigeru Ishiba's sudden resignation after only a year in office has thrown Japan into political turmoil, raising doubts about how the country will handle economic and regional challenges, observes Dr Rajaram Panda.
'For the Indian economy to maintain a growth rate of 7 to 8 per cent, it needs large foreign direct investment coming in, and that's mainly coming from the US.'
India and the US will sit together in the next couple of weeks to decide on the nature of the proposed trade agreement and finalise its broad contours, a senior official said on Monday. During the recent visit of Prime Minister Narendra Modi to Washington, India and the US announced to more than double the two-way commerce to $500 billion by 2030 and negotiate the first tranche of a mutually beneficial, multi-sector bilateral trade agreement (BTA) by fall of 2025.
"It is shocking to note that Turkey, the second-largest arms supplier to Pakistan after China, has played a key role in modernising Pakistan's navy and enhancing its aerial warfare capabilities. "This defence collaboration is not just commercial; it is ideological, targeting the stability of South Asia and emboldening Pakistan's military adventurism," SJM national co-convenor Ashwini Mahajan said in a statement.
The two sides are also likely to firm up a currency swap framework and seal several other agreements including one on debt restructuring following talks between Modi and Sri Lankan President Anura Kumara Disanayaka on April 5, people familiar with the matter said.
Amidst strained ties with China, the pre-budget Economic Survey on Monday made a strong case for seeking foreign direct investments (FDI) from Beijing to boost local manufacturing and tap the export market. As the US and Europe are shifting their immediate sourcing away from China, it is more effective to have Chinese companies invest in India and then export the products to these markets rather than importing from the neighbouring country, the Survey said.
The commitment by Japan to invest $35 billion or 3.5 trillion YEN is for infrastructure sector over five years.
Anticipating US action on tariffs, India seems to have made the first move by revamping its tariff structure by reducing the slabs to eight rates, points out Mukesh Butani.
Industry associations and companies in the United States, including the US Chamber of Commerce, Coalition of Services Industries and the iconic bike company Harley Davidson have called on the Donald Trump dispensation to push India to reduce tariffs, non-tariffs, and regulatory barriers to boost American exports.
China does not have to give up what it took in 2020, it will never give up its claim to Arunachal Pradesh, Ladakh and other areas, and it has all the time now to plan its next surprise, points out Lieutenant General Prakash Katoch (retd).
India and Russia on Tuesday set a target of $100 billion in annual trade volume by 2030 and vowed to develop a robust bilateral payment settlement mechanism using national currencies. The two sides also inked a total of nine agreements to further broadbase cooperation in a range of areas including in the economic domain following summit talks between Prime Minister Narendra Modi and Russian President Vladimir Putin.
The eighth Budget of Finance Minister Nirmala Sitharaman continued to focus on 'GYAN' (Garib, Youth, Annadata, Nari) to maintain a consistent and coherent strategy initiated over the years in pursuing the government's vision for Viksit Bharat. The approach, characterised by incremental yet impactful steps, aims to create a compounding effect over time.
The India-United States relationship is set to expand under the Donald Trump administration, but there could be some unease on issues like imports, tariffs and immigration, strategic affairs experts said after the Republican leader won the fiercely contested presidential election.
United States President-elect Donald Trump's plan to overhaul the government with a new department headed by tech billionaire Elon Musk and Indian-origin entrepreneur Vivek Ramaswamy will be a biggest threat for China as it has to compete with far more efficient US political system, a policy advisor to the Chinese government said.
While the FIPB has sought more transparency on whether the rules concerning effective control would be followed once the deal fructifies, the Finance Ministry has also written to Sebi for a report on the Jet-Etihad deal, official sources said Wednesday.
With India, the last round of talks took place in February 2011.
'Israel would make Iran and its proxies pay. They, along with Qatar, fund terror all over the world.'
India and Japan on Friday decided to more than treble their currency swap arrangement from $15 billion to 50 billion in a move seen as sending an important signal for the rupee.
The PM held bilateral meetings with three ASEAN leaders, including his Vietnamese counterpart Nguyen Xuan Phuc and Myanmar's State Counsellor Aung San Suu Kyi, and discussed key bilateral and regional issues.
Calling Canada's behaviour 'the pits', India's recalled high commissioner Sanjay Verma says India was backstabbed and treated in a most unprofessional manner by a country that is supposed to be a friendly democracy.
The avoidable stresses and strains in ties helped in one way. It showed for the entire region how a matured India handled diplomatic relations, especially with a smaller and suspicious neighbour, with practised dignity and patience, unruffled by provocations in word, deed and action, observes N Sathiya Moorthy.
'Narasimha Rao asked me why China was doing so well in attracting foreign investments and I gave my frank opinion.' 'I told him that giving thrust to exports had to be a national effort.' 'But in India, the system was very centralised in the Government of India and the state governments had no role to play.'
Vijay Keshav Gokhale's tenure as foreign secretary promises to guide India's external affairs along paths never taken before, says K P Nayar.
'With continued focus on votes, upcoming by-polls and purchasing politicians, the political hierarchy has little time for national defence.' 'They would do well to heed a veteran scholar, who says, "There will be war with China in the next few years. The next full scale war will have the involvement of Pakistan and terror elements, insurgents and intelligence assets operating inside India",' warns Lieutenant General Prakash Katoch (retd).
Abu Dhabi national carrier had bought 24 per cent stake in Jet Airways for $379 million in April.
Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
Japan and India signed a 5-point action agenda to increase bilateral trade and investment between the two nations.
Shigeru Ishiba is expected to prioritise strengthening Japan's military capabilities and fostering deeper international partnerships, particularly with India, with whom Japan shares significant strategic interests, explains Dr Rajaram Panda.
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For India to invoke "sovereign" or "state" immunity to safeguard its foreign assets, which are under threat of getting seized in the intensifying legal battle with Cairn Energy, may come with several riders. Experts point out that the Indian government has to first satisfy the French court that the properties or assets that are under consideration are being used to dispense the state's sovereign functions.
China is also ready to promote high-quality Belt and Road Initiative cooperation, and push for new progress in the future-oriented, all-round friendly and cooperative partnership between the two countries, she added.
The chief adviser alleged elections held under Hasina's regime were "rigged blatantly and generations of young people grew up without exercising their voting rights."
Four Canadian ministers of Indian origin are traveling with Prime Minister Trudeau.
The talks for a free trade agreement (FTA) between India and Canada may have taken a pause but will resume once the political row between the two countries is resolved as the pact has economic benefits for both the nations, trade experts and exporters said on Friday. However, they said that India may not hurry for the trade agreement as 60 per cent of New Delhi's exports are already entering Canada at zero duty. Earlier this month, India and Canada paused the negotiations for the agreement due to political reasons.
India on Thursday said it promotes engagement with Taiwan in several areas including trade and investment and Taipei's decision to open an economic and cultural centre in Mumbai should be seen in that context.
China welcomes all initiatives that truly help developing countries build infrastructure and sincere efforts to promote connectivity and common development, the Chinese Foreign Ministry said.
