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With the pressure on for the European Union (EU) and India to come up with a significant announcement at the upcoming EU-India summit on December 10, a flurry of activity surrounding the ongoing negotiations for a bilateral free trade agreement (FTA) is giving momentum to the process.
Rediff reports on the reasons behind this dramatic shift.
'April 9 announcement of slapping a 125% tariff on Chinese goods has brought the focus back to China, making this new phase feel like a repeat of the original conflict.'
China on Friday said it is assessing whether to start trade talks with the US on tariff reductions following recent approaches by Washington, a move that would possibly ease the tit-for-tit tariff war between the world's two largest economies. "China is making assessments as the United States has recently reached out to convey messages to China through relevant parties many times, expressing hope to engage in talks with Beijing over tariff issues," the Chinese Commerce Ministry said in a statement in Beijing.
'...the auto industry to get back to 7% to 8% annual growth.' 'High growth in the SUV segment alone will not achieve this, as it is a small market.'
World leaders, including US President Donald Trump, Russian President Vladimir Putin and Israeli Prime Minister Benjamin Netanyahu, condemned the terror attack in Jammu and Kashmir that killed 26 people, expressing solidarity with India. The attack was claimed by The Resistance Front (TRF), a proxy of the Pakistan-based Lashkar-e-Taiba (LeT) terrorist group. The attack came during US Vice President J D Vance's maiden visit to India. Prime Minister Modi, who had arrived in Saudi Arabia on a two-day visit earlier in the day, cut short his visit and departed for New Delhi on Tuesday night following the attack.
Responding to media queries on the development, ministry of external affairs spokesperson Arindam Bagchi said that "such interference in India's internal affairs is unacceptable, and reflects a colonial mindset".
The opposition party, however, said the four eminent Congress MPs and leaders who have been included at the instance of the Modi government will, of course, go with the delegations and make their contributions.
With India's EV penetration at just 2.5 per cent, the market presents an opportunity -- provided Tesla gets its pricing right.
'As the global economy undergoes significant transformations in 2025, India's ability to navigate the complexities of trade wars, financial realignments, and emerging blocs will be pivotal,' explain Harsh V Pant and Soumya Bhowmik.
Prime Minister Narendra Modi and French President Emmanuel Macron have called for enhancing trade and investment ties between their countries and committed to further deepening their engagement in the Indo-Pacific. They discussed a full spectrum of bilateral relations, including key global and regional issues, and stressed the urgent need for reform in the United Nations Security Council. The leaders also underscored their commitment to ensuring the global AI sector can drive positive social, economic, and environmental outcomes.
The Congress on Sunday said it was not stopping anyone from being part of diplomatic delegations to be sent to various countries following Operation Sindoor and that its leaders who have been named at the instance of the government must listen to their conscience and contribute to the exercise.
Pharma major Dr Reddy's Laboratories delivered a muted operational performance in the fourth quarter of financial year 2024-25 (Q4FY25), even as revenue growth remained healthy. Lower gross margin performance and muted domestic growth are key concerns. Most brokerages have a "Sell" or "Reduce" rating as there are uncertainties related to the development of a new product portfolio and the launch timelines.
United States President Donald Trump has imposed a 10% tariff on most US imports, with even higher rates for China (34%), India (26%), Japan (24%) and the EU (20%), escalating a global trade war.
The share of rent in consumption expenditure has risen to 6.58%, according to the Household Consumption Expenditure Survey 2023-2024. This is the highest it has been in surveys going back to the turn of the millennium.
A Rs 23,000-crore production-linked incentive (PLI) scheme for electronic components may boost margins and enable a broader product mix.
Amidst growing panic over Trump's ban on Harvard's international student enrolment, overseas education consultants have this advice for Indian students.
India and the European Union (EU) have begun discussions to resolve the ongoing dispute over the seizure of Indian generic drugs consignments in transit at European ports. Lutz Guellner, spokesperson for the European Trade Commissioner, told Business Standard that a meeting of the EU-India Joint Customs Cooperation Committee held in New Delhi on Thursday proved "constructive" with an "open discussion of the issues" taking place.
Among major economies, India in FY23 recorded the steepest increase in greenhouse gas (GHG) emission, climbing 6.1 per cent, with China trailing close behind at 5.2 per cent, according to the United Nations Environment Programme (UNEP) Emissions Gap Report 2024. In contrast, GHG emission decreased in both the European Union (EU) and the United States (US) by 7.5 per cent and 1.4 per cent, respectively. Despite India's rise, its 2023 GHG emission remains relatively low at 4,140 million metric tons of carbon dioxide equivalent (MtCOe) against China's 16,000 and the US's 5,970.
After a fresh round of human rights dialogue, India and the European Union on Friday concurred on the importance of safeguarding freedom, independence and diversity of civil society actors, including human rights defenders and journalists.
India is not "rethinking" supporting investments from China, said Commerce and Industry Minister Piyush Goyal on Tuesday, referring to a proposal made in the Economic Survey 2024. The survey by India's chief economic advisor last week said India had two "choices" to benefit from the so-called China plus one strategy, either by integrating into that country's supply chain or by promoting foreign direct investment (FDI). "Chief economic advisor's report speaks about new ideas and gives out their own thinking. It is not at all binding on the government and there is no rethinking to support Chinese investments in the country," Goyal told reporters in Delhi.
"We have requested EU member states to individually consider extending similar exemption to those persons who have taken COVID-19 vaccines in India, that is Covishield and Covaxin, and accept the vaccination certificate issued through the CoWIN portal," said a source.
Snapping the two months slide, the country's merchandise exports rose marginally by 0.5 per cent to $34.58 billion in September while trade deficit narrowed to $20.78 billion. According to official data released on Wednesday, imports increased by 1.6 per cent to $55.36 billion in September compared to $54.49 billion in the year-ago period. The trade deficit, or the gap between imports and exports, was $20.8 billion during the same month last year.
Export-led Indian IT sector is not directly hit by Trump's tariff order on goods, but there could be worrisome indirect bearings on it arising out of possible slowdown in decision-making and GDP growth in America over higher tariffs, which may then cloud demand from specific verticals, according to some analysts.
In the shadows of a sliding rupee, India's knitwear hub Tiruppur is weaving a success story. While the domestic currency edges closer to the 86 mark against the US dollar, triggering concerns for many sectors, this textile town in Tamil Nadu is finding opportunity in adversity: Between April and December alone, Tiruppur's exports reached Rs 26,000 crore, almost eclipsing last financial year's total of Rs 30,690 crore.
The leaders also noted the "negative impacts" of the war in Ukraine with regard to global food and energy security, especially for developing and least-developed countries.
'If you compare the data from 2017 and 2023 of the US imports from the world and China, you will see that the US was a complete loser in the trade war, and China was a complete gainer.'
Sikh militant group on EU's terrorist list
Indian mango growers are suffering daily and some have been bankrupted.
Ahead of his much-anticipated visit to conflict-torn Ukraine, Prime Minister Narendra Modi on Thursday said India firmly believes that no problem can be solved on the battlefield and it is ready to extend all possible cooperation for the restoration of peace and stability in the region.
'Doctors feel they have a duty to prolong a heartbeat at all costs.' 'And a son or a daughter feels, I can't let my mum die. I have to save her at all costs.' 'They think saving is just prolonging life. But the person suffers.'
The India-European Union summit which was slated to be held later this month will now be rescheduled in view of the coronavirus outbreak, the ministry of external affairs said on Thursday.
The recent stimulus measures announced by China have seen most analysts sit up and take notice.
The Indian economy is expected to be "a little weaker" in 2025 despite steady global growth, IMF managing director Kristalina Georgieva has said. Georgieva also said she expects quite a lot of uncertainty in the world this year mainly around the trade policy of the US. In her annual media roundtable with a group of reporters on Friday, she said global growth is expected to be steady in 2025, but with regional divergence.
India would have to put at least 10 percent of scientific, managerial and industrial inputs in the project.
Frequent bans on Indian food products by the EU have prompted the Indian government to invite the officials of the EU Food and Veterinary Office to let them assess the food safety standards followed by India.
Countries that raised concerns about the quality of Indian spices have called for urgent attention and action, Delhi-based think tank Global Trade Research Initiative (GTRI) said on Wednesday. The stakes are high since India exported spices worth about $692.5 million to the United States (US), Hong Kong, Singapore, Australia and Maldives in the financial year 2023-24 (FY24), it said. During FY24, India's spice exports were worth $4.25 billion, accounting for a 12 per cent share of the global spice exports.
Birla told the European Parliament Vice President that every nation and Parliament is sovereign and internal issues of other countries should not be discussed by others.
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