Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
China has approved the construction of the world's largest dam on the Brahmaputra River in Tibet, close to the Indian border. The USD 137 billion project, which is expected to dwarf even China's own Three Gorges Dam, has raised concerns in India and Bangladesh, the downstream riparian states. Concerns in India are centered around China's potential to control water flow, potentially enabling the release of large amounts of water to flood border areas in times of hostilities. The dam is part of China's 14th Five-Year Plan, and the Chinese government claims that the project is safe and prioritizes ecological protection.
'The border deal offers a hedge for India against Trump's unpredictability when it comes to his approach to competition with China.'
Taiwan is keen to collaborate with India and help it become a leader in the semiconductor space, Jason Ho, chairman of the Taiwan Chamber of Commerce in India, said, asserting that the Taiwanese companies have the supply chain for things that the Indian market needs. Manufacturing semiconductors - used in electric and hybrid cars, drones, and communication devices - is fairly complicated, entails huge investment, and can be a cumbersome process.
Ukraine is currently in the middle of a strategic offensive into Russia's Kursk region.
During Abe's tenure, Japan had announced support for a number of major projects. These included the bullet train project between Mumbai and Ahmedabad, besides allocations for a freight corridor between Mumbai and New Delhi.
Prime Minister Narendra Modi and his Australian counterpart Anthony Albanese will hold extensive talks on Friday with a focus on boosting overall bilateral ties in areas of trade and investment, defence and critical minerals.
Another priority in the first 100 days could be the launch of an e-platform -- Trade Connect -- to help exporters connect with stakeholders of international trade.
'Trump has no more elections to fight and his soaring ambition, which is no secret, will be to carve out a presidential legacy that outshines by far all his mediocre predecessors.' 'Trump's turnaround on the H-1B visa debate shows that he can take tough decisions and there are no holy cows in his domain,' asserts Ambassador M K Bhadrakumar.
Prime Minister Narendra Modi and his visiting Danish counterpart Mette Frederiksen on Saturday held 'fruitful' talks with a focus on expanding cooperation in a range of key areas such as health, agriculture, water management, climate change and renewable energy.
CII will renew its MoU with the China Council for the Promotion of International Trade on June 25 in Beijing to continue with the sustainable institutional cooperation between the business communities of both countries.
Prime Minister Modi will hold in-person meetings with President Putin for 8-9 hours during his nearly 24-hour stay in Russia, they said.
Modi hits out at trade protectionism and calls for a rule-based, transparent, anti-discriminatory, open and all inclusive WTO-centred multilateral trading system focused so that the interests of every country specially the developing ones can be taken care of.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
India and five Central Asian countries on Thursday decided to establish a joint working group on Afghanistan at the senior officials' level, ministry of external affairs secretary (West) Reenat Sandhu said.
To celebrate the new trade deal with India, Australian Prime Minister Scott Morrison on Saturday took to Instagram to post a picture showing him preparing khichdi, his Indian counterpart Narendra Modi's favourite dish.
"We would take PM Modi at his words and welcome those comments when they took place. Other countries will make their own decision on engagement with Russia. We continue to coordinate with allies to mitigate impacts of war," said State Department's Principal Deputy Spokesperson Vedant Patel during a press conference on Thursday.
A top Republican lawmaker has welcomed India signing a trade deal with Australia, and urged the Biden administration to enter into a similar arrangement with New Delhi that can advance Washington's strong economic agenda in the strategically vital Indo-Pacific region. "I'm pleased to see #Australia & #India sign a strong trade deal," Senate Foreign Relations Committee Ranking Member Jim Risch said in a tweet. "The US needs to do the same and advance a strong economic agenda in the #IndoPacific. "The Biden Admin's failure to lead hurts US growth and our partnership in the region," Risch said in another tweet.
The Union Cabinet on Wednesday approved the signing of a comprehensive economic cooperation agreement, a kind of a free trade pact, between India and Mauritius which is aimed at liberalising norms to boost two-way commerce
The phone conversation came days after it emerged that Modi will not be travelling to Russia for the annual India-Russia summit this year.
India on Monday asserted that its friendly ties with the Maldives will continue as Prime Minister Narendra Modi and President Mohamed Muizzu unveiled a blueprint for comprehensive economic and maritime cooperation, signalling a reset of the relationship that had hit a rough patch last year due to anti-New Delhi rhetoric.
The two countries also signed a 'Memorandum of Agreement regarding the Assignment of Liaison Officers', which will facilitate the posting of one military officer from each country with the military of the other.
'Trump will absolutely back New Delhi on its position that Pakistan must do more to crack down on terrorists that threaten India.'
India's trade with Nordic countries stands at over USD 5 billion (2020-21) and a cumulative FDI of over USD 3 billion (April 2000- March 2021).
Modi held a "productive meeting" with his Ethiopian counterpart Abiy Ahmed Ali on a day when BRICS (Brazil, Russia, India, China and South Africa) leaders officially endorsed Ethiopia's entry into the bloc.
The proposed India-Israel trade pact should be beneficial to both nations and until New Delhi gets a good deal, it would not do an agreement, Commerce and Industry Minister Piyush Goyal said. India and Israel are negotiating a free trade agreement (FTA) since May 2010. "With Israel, until we get a good deal, we will not do an FTA. It has to be reciprocally beneficial," the minister said in San Francisco on Tuesday while interacting with the Indian community.
Both Putin and Zelenskyy have invited the prime minister to visit Russia and Ukraine respectively after the Lok Sabha elections, sources said, adding they see Modi as a "peacemaker".
The interim free trade agreement between India and Australia will come into force on Thursday, providing duty-free access to thousands of domestic goods such as textiles, and leather in the Australian market. The agreement will help almost double the bilateral commerce to $45-50 billion in around five years, according to exporters and industry players. The Economic Cooperation and Trade Agreement (ECTA), which was signed on April 2, would provide duty-free access to Indian exporters of over 6,000 broad sectors, including textiles, leather, furniture, jewellery and machinery in the Australian market.
Ron Somers, founder and CEO of India First Group and the former President of leading business advocacy group US-India Business Council said that when Lok Sabha election results are declared on June 4, "I believe that Narendra Modi will win Parliament by the largest majority ever recorded in the country's history.
Britain has finalised 1 billion pounds worth of new trade and investment with India, creating over 6,500 jobs in the UK, to be signed off at a virtual summit between Prime Minister Boris Johnson and his Indian counterpart Narendra Modi on Tuesday. The investments confirmed by Downing Street on Monday evening form part of an Enhanced Trade Partnership (ETP), which will set the ambition to double the value of UK-India trade by 2030 and declare a shared intent to begin work towards a comprehensive Free Trade Agreement (FTA). "Like every aspect of the UK-India relationship, the economic links between our countries make our people stronger and safer," Johnson said.
Minister of State for External Affairs B Muraleedharan said India is committed to developing friendly and mutually beneficial relations with all its neighbours under its 'Neighbourhood First' policy.
While the Framework would support small and medium enterprises in exploring new business opportunities, the US-India Financial and Economic Partnership would deal with economic, financial and investment-related issues.
The matter came up for discussion during their wide-ranging dialogue that was aimed at expanding overall ties.
'Disengagement is merely the first step in a lengthy process of arriving at a new normal along the LAC in Eastern Ladakh and the entire land boundary.' 'The Indian government should insist on the restoration of the status quo ante in Eastern Ladakh.'
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.
PM Modi also called for a strong action plan for combating extremism.
Prime Minister Narendra Modi and President Barack Obama on Monday decided to "further refine" the Indo-US strategic partnership while pushing ahead with cooperation in the areas of security, counter-terrorism, defence, economy and climate change.
Reports (not denied by India) that the USA had 'for the first time provided real-time details to their Indian counterparts on the Chinese positions and force strength in advance of a PLA incursion' into Tawang at the LAC in December 2022, helping India thwart China's expansionist designs, show how operationally effective the USA-India friendship has become on the ground. A engaging excerpt from Sreeram Chaulia's must-read new book, Friends: India's Closest Strategic Partners.
Prime minister likely to visit Beijing, Shanghai; also President Xi's home province, Shaanxi. Nayanima Basu reports
In an address at a security conclave of the Shanghai Cooperation Organisation in the Kazakh capital, he also underlined the need for holding accountable the sponsors, financiers and facilitators of terrorism, in remarks that came amid Pakistan's continuing support to various terror groups.
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