The simultaneous decline of several trade-related indicators should put policy makers on guard for a sharper slowdown.
On the final day of Prime Minister Narendra Modi's visit to the US, that country on Tuesday extended its Defence Cooperation Agreement with India by another 10 years. The pact, which was to expire in June next year, will now be in force till 2025.
Why can't the Indian government propose to the Chinese a corridor circumambulating the Holy Mountain where people from both sides could perform the yatra again? asks Claude Arpi.
Sitharaman also highlighted the steps taken by the government to achieve ease of doing business by digitisation of approvals and making more stable policies to make India a favourable destination for investors.
'Trump's disregard for norms and institutions could prove very costly for America's social fabric.'
The declining exports would have implications for the job market.
Expressing deep concerns over India's policy of preferring domestically manufactured information and communication technology goods, the apex body of US telecom industry has told lawmakers that this will have negative impact on exports and economic competitiveness.
In days of smart, networked technology and no shame over collateral damage, what will blow up next -- cars, mobile phones, TV sets, refrigerators? And where?, asks Shyam G Menon.
'There is not any negative connotation associated with it.'
A day after lambasting e-commerce players for predatory pricing, Union Commerce Minister Piyush Goyal on Thursday said he is not against online platforms but India wants such entities to be "fair and honest" in their conduct. Speaking with reporters in the financial capital, the outspoken Union minister said the rule of the law should be followed in letter and spirit, and made it clear that consumer preferences should not be influenced by algorithms.
'As the markets are expected to remain jittery in the near term, we advise investors to use this opportunity to enter quality largecaps from a long-term perspective.'
President Trump, forcefully pursuing his 'America first" policy, has previously described India as a "tariff king" for imposing "tremendously high" tariffs on American products, also expressed dissatisfaction over the US-India trade ties. "Well, we can have a trade deal with India, but I'm really saving the big deal for later on," Trump, who is scheduled to visit India on February 24 and 25, told reporters at the Joint Base Andrews outside Washington on Tuesday when asked whether he expects a trade deal with India before the visit.
In an interaction with a group of Indian journalists, the three-time prime minister and president of the ruling Pakistan Muslim League-N described Jaishankar's visit as a "good opening" and said both sides should now engage and move forward.
Biden expressed the support of the US to India in a telephonic conversation with Prime Minister Narendra Modi, during which the two leaders discussed the pandemic situation in their countries, including India's ongoing efforts to contain a second wave of COVID-19 through expedited vaccination efforts, and ensuring supply of critical medicines, therapeutics and medical equipment.
While an official in the Commerce Department indicated a trade war was in the offing, till now the government has been in wait-and-watch mode.
In the case of Iran, the lifting of sanctions has paved the way for direct relations.
While India does not figure in the top 10 export destinations for Pakistani goods, it serves as a crucial channel for select goods such as leather hides and cheaper variants of fertilisers that are generally procured by importers at short notice.
Adverse IPR report expected this week;Poor labelling could take fight to WTO
Global rating agency Moody's on Monday raised India's growth forecast for 2024 calendar year to 6.8 per cent, from 6.1 per cent estimated earlier, on the back of 'stronger-than-expected' economic data of 2023 and fading global economic headwinds. India's real GDP expanded 8.4 per cent year-over-year in the fourth quarter of calendar year 2023, resulting in a 7.7 per cent growth for full-year 2023. Capital spending by the government and strong manufacturing activity have meaningfully contributed to the robust growth outcomes in 2023, Moody's Investors Service said.
United States President Donald Trump, who has come under fierce criticism for his handling of the coronavirus crisis, has alleged that the Chinese government was either incompetent in preventing the deadly virus from spreading globally or did it for a reason.
India continues to apply import quotas on marble.
At the World Bank Banga will be replacing David Malpass, a former Trump treasury official, reports axios.com. Malpass had already announced that he will resign by July, months ahead of his term expired. "Ajay is uniquely equipped to lead the World Bank at this critical moment in history," President Biden said in a statement. Banga, 63, currently serves as vice chairman at General Atlantic.
Commerce minister makes strong case for food subsidy to poor.
According to data released by the commerce and industry ministry, exports stood at $25.01 billion in the month. The fall is only the second time exports contracted in the past year.
Removal of this status means India can now enhance customs duties to any level on goods coming from Pakistan.
Flaring of tempers comes atop much simmering trouble on clashing views; these stands might now get frozen.
The government said that far from targeting any US entity, the purpose was to ensure fairness, healthy competition, and to exercise the ability of governments to tax businesses having a nexus with the Indian market through digital operations.
Should we not stop uncritically celebrating NRIs' elevation without regard to what kind of companies they are getting to run, and the nature of their products or business practices, asks T N Ninan.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
The government believes that WTO's push for initiating negotiations on substantive obligations related to e-commerce will oblige India to permanently accept the current moratorium on imposing customs duties on products traded electronically.
Under the TFA, a proposal of developed countries, WTO members are negotiating ways to facilitate trade, simplify and harmonise customs rules and reduce transactions cost. Although India is willing to negotiate on TFA, it has raised few concerns over the proposed agreement.
The importance of China as India's top trading partner cannot be understated.
He conveyed India's position to visiting Director General of the Food and Agriculture Organization Jose Graziano da Silva whom he urged to take the lead in protecting the interests of the poor and farmers at the World Trade Organisation.
The first global trade reform since the creation of the World Trade Organization is ready for agreement by ministers from the body's 159 member countries later on Friday, sources involved in the talks said.
The intelligence wing of Central Board of Excise and Customs has 532 officers and staff, he said, adding, the staff strength of DRI will double when cadre review is completely rolled out.
Western drugmakers, including Pfizer Inc, Novartis AG, Roche Holding AG and Sanofi SA, covet a bigger share of the fast-growing Indian drugs market.
The proposed policy is increasingly becoming an item of negotiation, as the US pushes hard to change India's stance.
Forex traders said a stronger dollar also dragged the rupee down.
The US agreed to India's proposal on food security issues at WTO on Thursday.
Talking tough, India on Friday threatened to drag the European Union to the World Trade Organization if the 28-nation bloc did not lift its ban on the import of Indian mangoes and vegetables.
