India's pharmaceuticals and medical devices industries are still hopeful that trade negotiations with the US could cut a fairer deal for both sides, after President Donald Trump announced a 25 per cent tariff rate on India on a social networking platform without divulging the finer details.
'The logic every one of our neighbours must realise is that working with India will give you benefits, and not working with India has a cost.'
With US President Donald Trump "temporarily suspending" country-specific reciprocal tariffs until July 9, India sees the three-month window as an opportunity to renew its push for a proposed bilateral trade agreement (BTA) with the US and expedite finalisation of the first tranche of the trade deal.
Tensions between India and Pakistan are escalating following last week's dastardly terror attack in Pahalgam that claimed 26 lives.
'While the President has been critical of India, he has gone out of his way to compliment PM Modi. They have an incredible relationship.'
A court in Antwerp on Friday cleared the extradition of fugitive diamantaire Mehul Choksi, noting that his arrest by the Belgian authorities on India's request was valid, officials in the know of the development said.
India is already negotiating a bilateral trade agreement with the US. The two countries are aiming to finalise the first phase of the pact by fall (September-October) of this year.
Mr Trump's actions, because of their extreme nature and the dangerous rhetoric that accompanies them, receive the most attention, points out Mihir S Sharma.
US President Donald Trump has announced a 25 per cent plus tariff on India from Aug 1. Trump, describing India as a "friend", said the US has done relatively "little business" with the country because of its high tariffs.
'Geopolitically and diplomatically it's a very difficult situation for India.'
Billionaire Mukesh Ambani's Reliance Industries Ltd is estimated to have earned 724 million euros (about Rs 6,850 crore) from exporting fuel made from Russian crude oil to the US in one year, an European think tank said in a report. "From January 2024 to the end of January 2025, the US imported EUR 2.8 billion of refined oil from six refineries in India and Turkey that process Russian crude.
In trade negotiations, as in chess, sometimes you need to accept a temporary disadvantage to secure a better long-term position, points out Sonal Varma, chief economist (India and Asia ex-Japan) at Nomura.
India will not provide any duty concessions on British wines and is offering only limited import duty benefits on UK beer under the free trade agreement (FTA) between the two countries, announced on May 6, according to an official. The other sensitive agri products where India will not offer any reduction in the import duty include dairy products, apples, cheese, oats, animals and vegetable oils under the agreement with the United Kingdom.
European Union (EU) companies operating in India want New Delhi to streamline or remove non-tariff barriers such as Quality Control Orders (QCOs), complex Customs procedures; simplify labelling, testing, and import procedures; and facilitate cross-border digital transactions without data localisation constraints. These are results of a Business Sentiment Survey, 2025 conducted by the Federation of European Business in India (FEBI) ahead of resumption of negotiations for a free trade agreement (FTA) between both the sides scheduled to be concluded by year-end.
In a dramatic shift in Canada's foreign policy, Prime Minister Mark Carney on Thursday declared that the long-standing economic and security relationship between Canada and the United States has ended, responding to US President Donald Trump's announcement of new auto tariffs that could severely impact Canada's economy, Politico reported.
The stock and bond markets told Trump firmly that any idea of isolating China would lead to harming the US economy and this forced Trump to backtrack, points out Aakar Patel.
India-US relations, like Rome, were not built in a day, nor can they be demolished in a day.
All said and done, when the new global order emerges, India can only remain with the democracies, asserts Ambassador T P Sreenivasan.
Mahindra & Mahindra, Bharti Airtel, Infosys, Tata Motors, Titan, Tata Consultancy Services, Nestle and Maruti were also among the major laggards. HDFC Bank emerged as the only gainer from the pack.
'The government is actively engaging with EU to ensure that concerns of Indian companies and hard-to-abate sectors are adequately addressed under CBAM'
External Affairs Minister S Jaishankar has asserted that India has zero tolerance for terrorism and will never give in to nuclear blackmail, emphasizing that New Delhi will deal with Pakistan purely bilaterally. He made these remarks during a joint press conference with his German counterpart in Berlin, where he also highlighted the importance of the strategic partnership between India and Germany, emphasizing the need for a free trade agreement between the two nations.
Brendan Lynch, the assistant US trade representative for South and Central Asia, will pay a five-day visit to India beginning Tuesday, days before US President Donald Trump's tit-for-tat tariff kicks in. The senior US trade official is expected to hold talks with Commerce Minister Piyush Goyal besides meeting a number of senior Indian officials.
US President Donald Trump announced a 26 per cent "discounted reciprocal tariff" on India, half of the 52 per cent levies imposed by India on American goods, as he described India as "very, very tough."
The White House has said India imposes a 100% tariff on American agricultural products and the high levies charged by other countries make it "virtually impossible" for US products to be exported to those nations. President Donald Trump has repeatedly criticised the high tariffs charged by India and other countries on American goods. He plans to roll out a set of reciprocal tariffs on April 2, which he says will be "Liberation Day" for the US.
India and the UK on Thursday inked a landmark free trade agreement (FTA) that will cut tariffs on British whisky, cars and an array of items, besides boosting bilateral trade by around $34 billion annually.
'We remain in touch with the Chinese side, in Beijing as well as in Delhi, to bring predictability in the supply chain.'
The year 2024 was not only the hottest year on record but also the first to breach 1.5C above the 1850-1900 baseline.
The Supreme Court has questioned the central government about the possibility of constructing a border wall to prevent illegal immigration, drawing parallels with the US border policy. The court also addressed concerns about the detention and deportation of Bengali-speaking migrant workers.
India, the world's third largest oil consuming and importing nation, bought crude oil worth 49 billion euros from Russia in the third year of Moscow's invasion of Ukraine, a global think tank said. India, which has traditionally sourced its oil from the Middle East, began importing a large volume of oil from Russia soon after the invasion of Ukraine in February 2022.
Pakistan military spokesperson Lieutenant General Ahmad Sharif Chaudhry told a hurriedly called press conference in Islamabad at around 4 am that th Pakistan air force's Nur Khan (Chaklala, Rawalpindi), Murid (Chakwal) and Rafiqui (Shorkot in Jhang district) airbases were targeted.
Eurozone's financial contingency plan is trying to solve the problem of excessive debt with even more debt.
Trump knows by now that the western narrative of Biden's war is a load of bullshit peppered with falsehoods and outright lies, and that the war erupted only out of the diabolic western plot to poke the bear, which got provoked finally and hit out, explains Ambassador M K Bhadrakumar.
"India and everybody would think of them as an ally. I can say the same for others. But this is a group of wonderful nations that is countering other countries that look to hurt us on trade," he added.
Besides the scientists at the Indian Space Research Organisation, officials at the European Space Agency are also involved in tracking the lander module of the Chandrayaan-3 mission which is minutes away from making a soft landing on the surface of the moon, a senior scientist said on Wednesday.
'Traders and exporters will have to explore alternative markets.'
India-Turkiye ties are strained over Ankara's Islamabad tilt, its arms links with Pakistan, and fallout from the Pahalgam terror attack.
Main imports from the neighbouring country during April-January 2024-25 included fruits and nuts (USD 0.08 million), certain oil seeds and medicinal plants (USD 0.26 million), and organic chemicals.
The point to note for India is that we must not panic. The United States may be our largest export destination, but high tariffs will not exactly mean gloom and doom. Sure, we can throw some morsels as we continue negotiating, but we must be firm that some red lines cannot be crossed, no matter what, asserts Shreekant Sambrani.
The motion takes note of the UNHCR statement last month, which described the CAA as 'fundamentally discriminatory in nature', and also of other United Nations as well as the EU guidelines on human rights as it calls on the Indian government to 'repeal the discriminatory amendments'.
Europe's economy is recovering at a faster pace and growth is projected to be nearly double than previously projected in 2010, according to the European Commission.
The Kananaskis gathering on June 16-17 is the Prime Minister's 6th consecutive participation in the G7 Summit.
