Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
The United States, the United Nations and the European Union have welcomed the announcement by the militaries of India and Pakistan to strictly observe all agreements on ceasefire along the Line of Control (LoC) in Jammu and Kashmir and other sectors, and hoped that it would lead to greater peace and stability in South Asia.
India has flagged concerns over non-tariff barriers (NTBs) faced by its exporters with the Russian government, commerce secretary Sunil Barthwal said on Monday. NTBs faced by Indian exporters are mainly in sectors such as marine products and pharmaceuticals.
The heated exchange between Trump and Zelenskyy and the resulting outpouring of support for the Ukrainian leader highlighted the deep fissures that have emerged between America and Europe over Ukraine.
We have applied for marketing authorisation to the EMA through AstraZeneca. We will not sell the vaccine in the EU, said a company source.
The EU is challenging the introduction of import duties on a wide range of ICT products, for instance mobile phones and components, base stations, integrated circuits and optical instruments
India has already asked the EU member countries to individually consider allowing Indians who have taken Covishield and Covaxin vaccines and want to travel to Europe.
Leterme contended that there is a need for the United Nations Security Council to adapt to the realities of the 21st century as it requires representation that goes beyond the structures established in the 20th century.
New Delhi has not adhered to the recent G-20 assurances that leaders had agreed at the London meeting last month not to impose protectionist measures, the EU claimed.
EU special representative for human rights Eamon Gilmore said on Friday that in his meetings with the Indian government he has discussed issues such as the use of sedition and anti-terrorism laws, condition of minorities, communal violence and the situation in Jammu and Kashmir.
India, the world's third largest oil consuming and importing nation, in July bought $2.8 billion worth of crude oil from Russia, second only to China which remains the largest importer of Russian oil, a report said. Russia emerged as India's biggest supplier of crude oil, which is converted into fuels like petrol and diesel in refineries, after Russian oil was available on discount following some European nations shunning purchases from Moscow over its invasion of Ukraine in February 2022.
India abstained in the United Nations General Assembly on a draft resolution introduced by Pakistan and co-sponsored by China on Islamophobia, asserting that the prevalence of 'religiophobia' against Hinduism, Buddhism, Sikhism and other faiths facing violence and discrimination must also be acknowledged rather than singling out just one religion.
Under the FTA in the Services sector, India wants the EU to ensure free mobility of professionals without restrictions such as experience whereas the EU wants greater commitment by India to allow foreign investment in services such as retail, legal and postal.
The sources said friends of India prevailed over those of Pakistan in the European Parliament on Wednesday.
India clearly told the EU it would 'not accept' any further concession, as far as the automobile sector was concerned.
European Union is not contemplating signing free trade agreement with India in the near future and will focus on completion of contentious World Trade Organisation negotiations including agriculture and Singapore issues
India may have to abide by a series of international standards and regulatory practices in the healthcare sector, if it agrees to some proposals that are part of the ongoing India-EU Free Trade Agreement (FTA) negotiations.
Billionaire Mukesh Ambani-led Reliance Industries has completed the merger of its media assets with the India business of global media house Walt Disney and formed a joint venture with a valuation of over Rs 70,000 crore. The JV will be one of the largest media and entertainment companies in India with a combined revenue of approximately Rs 26,000 crore and will be led by Nita Ambani as its chairperson, according to a joint statement.
India and Brazil raised a trade dispute against the European Union before the World Trade Organization on Tuesday over seizure of generic drugs by EU member countries on high seas.
Taking a dig at Europe, Brazil Thursday suggested the European Union to outsource all their calculations to India's computers and mathematicians as it dismissed the allegation that the two countries were fooling everyone on reducing tariffs.
Shares of auto component major, Samvardhana Motherson International, has gained 11.5 per cent on the bourses after the company approved the qualified institutions placement (QIP) issue and announced the calculation methodology for its compulsorily convertible debentures, or CCDs, into equity shares. Analysts cite strong investor response to the issue that has kept the sentiment positive for the stock. Brokerages, however, have a mixed view on the outlook for the auto parts supplier.
The talks are being held in Brussels between high-level delegations from India and EU, led by Commerce Secretary G K Pillai and Director General of European Commission Davis O'Sullivan.
The European Union on Friday asked India to further open its economy for foreign investments even as the country has taken tentative steps towards liberalising FDI in sensitive defence and multi-brand retail sectors.
India's exports registered a steepest decline in 13-month falling 9.3 per cent in August to $34.71 billion due to global economic uncertainties, while the trade deficit soared to a 10-month of $29.65 billion. According to the government data released on Tuesday, imports increased by 3.3 per cent to $64.36 billion, which is a record high, due to a significant jump in the inbound shipments of gold and silver.
The UK voted to leave the European Union after 43 years.
The issue was taken up at a meeting in New Delhi between Commerce and Industry Minister Anand Sharma and visiting Polish Foreign Minister Radoslaw Sikorski.
Last week, India lodged a complaint against the EU's measures on PET at the WTO, saying Brussels allegedly violated core provisions of the Agreement on anti-dumping as well as subsidies and countervailing measures. Under the WTO's anti-dumping and anti-subsidy rules, the EU is required to terminate its measures after five years. But Brussels continued to impose them on the ground that the Indian exports could harm the European producers.
The European Union on Thursday said India will surpass 7.0 per cent growth this year and the new United Progressive Alliance government is expected to continue with reforms, including reduction in fiscal deficit.
The European Union on Wednesday said there would not be any dialogue with India on the World Trade Organisation issues when their political heads meet at the India-EU summit this weekend, even though trade issues will figure in the summit.
Despite discounts on Russian crude oil - which fell to the lowest since the Ukraine war began - and the rising sanctions, import volumes from the country will remain stable for now or at least till July, said refinery officials. "There is an appetite for Russian crude, and shipments are not expected to taper off beyond this point unless something major happens. "Talks are on, and buying will continue," an official at a major refinery said.
Opposes Emissions Trading Scheme, which requires carriers flying to or from Europe to offset their carbon emissions
Industry body Assocham on Monday said country's top CEOs are in favour of signing a specialised free trade agreement with the European Union in services.
India on Tuesday said that the European Union must liberalise its visa regime to allow free flow of businessmen and skilled professionals from the country to the continent and was looking forward to the proposed 'Blue Card' initiative to facilitate hassle-free employment of skilled migrants.
Birla conveyed to the head of the European Union's legislative body that it was inappropriate for one legislature to pass judgements on another and the practice could be misused by vested interests.
India and EU on Monday agreed to resume stalled WTO talks immediately by adopting a flexible approach to narrow the differences on contentious issues like agriculture.
As part of their joint efforts to fight terrorism, India and the European Union today decided to work towards blocking access to terrorist financing and to cooperate in the fight against money-laundering
Returning home after a five-day high-profile state visit to China, Maldives President Mohamed Muizzu on Saturday struck a defiant note saying that his country may be small but 'doesn't give them the license to bully us'.
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