Modi congratulated him on assuming charge and a remarkable victory of his Labour Party in the election.
'No retaliatory tariffs now. You can retaliate after a few months.' 'Today, there is no need to retaliate because it is a question of long term benefits.'
India's new climate pledge to the UN could be weakened by its growing use of coal, even as the country plans a 2035 roadmap to cut emissions and boost clean energy.
With India making it clear that the US doesn't have enough spare capacity for crude oil, Washington, DC, now wants India to sign fixed-term liquefied natural gas (LNG) contracts with American producers, multiple sources in the know said.
An ACMA-BCG report has targeted Indian auto component exports to hit $100 billion - nearly a fivefold increase from $21 billion currently
India's leading steel companies hope the Modi 3.0 Budget will continue the massive capital expenditure currently underway, focusing on infrastructure development, manufacturing, and fair trade. The infrastructure segment is the largest steel user, and the government's focus has fuelled steel consumption even as international markets have underperformed. According to provisional statistics, steel consumption grew 13.6 per cent in FY24, reaching 136 million tonnes (mt), according to a CRISIL report.
India and Chile will begin in August negotiations on the proposed preferential trade agreement to enhance bilateral trade which stood at $320 million in 2003.
The UK has strongly condemned a security breach involving a pro-Khalistan extremist rushing towards External Affairs Minister S Jaishankar's convoy in London. The incident took place as Jaishankar was leaving the Chatham House think tank on Wednesday evening. The protester was swiftly taken aside by officers of the Metropolitan Police, with no arrests being confirmed so far. The UK said such attempts to "intimidate, threaten, or disrupt" public events are "completely unacceptable". The incident comes after Jaishankar's talks with UK Foreign Secretary David Lammy, during which both leaders covered the entire gamut of bilateral ties, including the relaunched Free Trade Agreement (FTA) negotiations, regional and global issues. The MEA has condemned the security breach and the provocative activities of the "small group of separatists and extremists", calling on the UK to "live up to their diplomatic obligations".
The government has set up an inter-ministerial group to monitor a possible surge in imports from countries like China, Vietnam and Thailand, fearing a surge in inbound shipments following the imposition of high reciprocal tariffs by the US on these countries, sources said. The product categories that may see an upsurge in diversion of imports from the US to India include consumer goods, electronics, chemicals and steel.
We must bring a laser focus on our own interests, and define our friends and foes more clearly instead of trying to live by somebody else's rules. We must grow up, think for ourselves, think India First, asserts R Jagannathan.
Mrs Gandhi's power ebbed and peaked with the times. Mr Modi's has almost been constant, barring the few months of hard dip after the 240 seats of 2024, points out Shekhar Gupta.
The US carmaker's entry into India is expected by the last quarter of the current financial year.
Chinese President Xi Jinping on Wednesday pledged to strengthen the strategic relationships with neighbouring countries by 'appropriately' managing differences and enhancing supply chain ties as China's tariff war with the United States escalated.
Korean hardware prowess and Indian software prowess can result in a formidable partnership
Vice Chair of AIBC Sheda Nandkeolyar expressed her gratitude over the announcement made by Australian Prime Minister Tony Abbott in the Parliament that Free Trade Agreement deadline would be brought forward to 2015.
The Ministry of External Affairs (MEA) has announced that India and China have reached an understanding to resume the Kailash Mansarovar Yatra in 2025. While an understanding has been reached, the modalities of the pilgrimage are yet to be firmed up. The Yatra has been suspended since 2020 due to the COVID-19 outbreak and non-renewal of Yatra arrangements by the Chinese side.
India and New Zealand have signed a pact to institutionalize their defence ties and vowed to boost cooperation in the Indo-Pacific. Prime Minister Narendra Modi raised concerns about anti-India activities by some illegal elements in New Zealand with his Kiwi counterpart Christopher Luxon. The two sides also signed six agreements to enhance cooperation in areas including education, sports, agriculture, and climate change. They also agreed to prepare a roadmap for cooperation in the defence industry sector and explore early implementation of cooperation in the digital payments sector.
Gold imports more than doubled in August to a record high of $10.06 billion, mainly on account of a drastic cut in customs duty and ongoing festive demand, according to the Commerce Ministry data. Gold imports stood at $4.93 billion in August 2023. On record high imports, Commerce Secretary Sunil Barthwal said that the tariff rates on gold have been reduced drastically so that smuggling and other activities can come down.
Domestic exporters on Monday expressed concerns over the crisis in Bangladesh and said the developments in the neighbouring country would have implications on bilateral trade. However, exporters expect that the situation may normalise soon. According to exporters, they are already facing disruptions in exports to Bangladesh due to a shortage of foreign exchange in that country.
India and the 10-member-group signed the landmark agreement on Thursday in Bangkok. Malaysia International Trade and Industry Minister Mustapa Mohamed said 71 per cent Malaysian goods would enjoy duty-free access to India by 2013 and another 9 per cent by 2016, while tariffs for the remaining 10 per cent would come down to 5 per cent.
Malaysia on Wednesday said it wants to complete talks this year for a separate trade-opening pact with India, in addition to liberalising commerce through the Indo-ASEAN Free Trade Agreement, operationalised this month.
The resilience of the economy and strength of domestic demand will continue to make India an engine of growth amid the rapidly evolving global trade landscape as a result of US tariffs, Finance Minister Nirmala Sitharaman said in London on Tuesday.
Foreign companies now pay less tax relative to their earnings than at any time in more than three decades. Foreign private companies paid 24.36 per cent of their pre-tax profit as tax in 2023-24, show numbers from the Centre for Monitoring Indian Economy (CMIE).
Leveraging the India-ASEAN Free Trade Agreement, India wants to double its commerce with Myanmar and diversify the bilateral engagement to agro-research and natural gas exploration.
According to the Morcha, the demands which Delhi Chalo has been called include: MSP should be guaranteed as per C2+50 percent formula and, as promised, a law should be made to guarantee it; all the farmers should be made debt free, and all agricultural loan must be waived.
The agreement that provides for both India and ASEAN reducing tariff on agreed goods has come into force with all but Cambodia and Philippines.
Prime Minister Narendra Modi asserted on Tuesday that India's water will no longer flow outside the country but will be utilized in the nation's interest, a statement seemingly directed at Pakistan following his government's decision to put the Indus Waters Treaty in abeyance after the Pahalgam terror attack. Addressing the ABP Network's 'India@2047' Summit, Modi emphasized his government's focus on interlinking rivers, noting that water used to be a source of conflict among states, before alluding to India's stance against Pakistan while discussing water. He highlighted the finalization of the India-UK free trade agreement as a historic milestone and underscored the importance of prioritizing national interest for achieving objectives and realizing the country's potential. Modi highlighted the country's growth and development under his government's rule, emphasizing its focus on welfare schemes and digitalization. He reiterated his government's commitment to 'Nation First' and pointed to the recent reforms undertaken, including the new Waqf law and the ban on triple talaq, which he said were aimed at benefiting the marginalized sections of society.
While admitting India's persistent stand on the issue might delay the agreement, a top commerce ministry official said the talks were on track. "We will maintain a hardline stand," said the official. It is to be noted, the sixth round of EU-India trade negotiation in Delhi in March ended without any substantial progress because of the tariff-related issues. The EU is India's largest trading partner and the total bilateral trade stood at over $70 billion in 2008-09.
India's policy for agriculture trade must move commodity-by-commodity to gain maximum benefits as US President Donald Trump's 26 per cent tariff on exports from the country take effect, said agriculture economist Ashok Gulati in a recent policy paper.
In his media statement following talks with his Croatian counterpart Andrej Plenkovic, Modi said both leaders agree that "terrorism is an enemy of humanity" and is inimical to forces that believe in democracy.
In fact, India stands to gain in sectors such as textiles, handicrafts, chemicals and pharmaceutical from its trade with the Asean economies.
US shale oil would act as an alternative to India's heavy dependency on Russian crude, which is currently facing sanctions.
Indo-Sri Lanka trade, which has reached $1.73 billion, is set to receive a boost with the two countries working on a comprehensive economic partnership agreement, India's top envoy said in Colombo on Thursday.
At a luncheon meeting with apex business chambers in New Delhi, visiting Chilean President Michelle Bachelet said her country was keen on promoting the preferential trade pact with India to a full-fledged free trade agreement. The two countries have agreed to take steps for doubling the bilateral trade, which was a mere $2.09 billion in 2007-08.
Brave statements such as we will continue to be the fastest growing large country are of no consolation, because the direction of trade also determines the flow of investment, points out M Govinda Rao.
