From the 30-share blue-chip pack, Adani Ports dropped over 4 per cent. UltraTech Cement, Sun Pharma, IndusInd Bank, NTPC and Tata Steel were also the among the laggards. Nestle, ICICI Bank, Infosys, Tata Consultancy Services and HCL Tech were among the gainers.
United States President Donald Trump said a 'very big' trade deal is on cards with India, hinting at significant progress in the negotiation process of a long-awaited bilateral trade agreement between the two countries.
Prime Minister Narendra Modi emphasized the strong partnership between India and the UK, highlighting its importance for global stability and economic progress amidst global uncertainty. Discussions covered trade, defense cooperation, and geopolitical issues.
The statement did not name any country. But the US has often blamed India and China for purchasing Russian oil even when there are no tariffs on Beijing for it.
A group in Varanasi organized an 'India-Russia Friendship March' to welcome Russian President Vladimir Putin ahead of his visit to India for the annual summit with Prime Minister Narendra Modi. The march highlighted the strong ties between the two nations and expressed hope for strengthened cooperation and global peace.
India has joined the US-led 'Pax Silica' alliance, aimed at building a resilient supply chain for critical minerals and artificial intelligence, marking a significant step in strengthening bilateral ties and fostering economic security.
India has raised concerns with the United States regarding the cancellation of scheduled H1B visa interviews for Indian applicants due to enhanced vetting measures. Both countries are engaged in discussions to address the disruptions caused by the delays.
Ahead of the visit, officials from key government departments held intense discussions to identify key trade-related proposals.
External Affairs Minister S Jaishankar on Monday met United States Secretary of State Marco Rubio for bilateral discussions, as the high-level 80th session of the United Nations General Assembly (UNGA) kicks in.
India and Russia are poised to sign multiple agreements to bolster cooperation in various sectors, including trade and healthcare, during Russian President Vladimir Putin's visit to New Delhi. Discussions will also address the Ukraine conflict and efforts to increase Indian exports to Russia.
Relations with India experienced a downturn during Yunus's tenure, while ties with Pakistan saw positive developments.
Amid the ongoing global tariff war, Commerce and Industry Minister Piyush Goyal on Wednesday asked exporters not to panic and assured them that India is working on the "right mix and right balance" in its proposed trade agreement with the US.
India and Russia on Tuesday set a target of $100 billion in annual trade volume by 2030 and vowed to develop a robust bilateral payment settlement mechanism using national currencies. The two sides also inked a total of nine agreements to further broadbase cooperation in a range of areas including in the economic domain following summit talks between Prime Minister Narendra Modi and Russian President Vladimir Putin.
The government on Wednesday approved two schemes worth Rs 45,000 crore to help exporters tide over the impact of high tariffs imposed by the US on Indian shipments.
Lavrov said that the US has set itself the objective of 'achieving economic domination', adding further to it that Americans want to control the routes to leading countries to provide its energy sources to them.
This will be the first face-to-face meeting between Rubio and Jaishankar following President Donald Trump's imposition of an additional 25 per cent tariff on India for Delhi's purchases of Russian oil, taking the total levies imposed on India by the Trump White House to 50 per cent.
Former World Bank Chief Economist Kaushik Basu on Thursday said the US economic policy towards India has taken an unfortunate turn, noting that President Donald Trump's harsh stance against New Delhi appears baffling. US President Donald Trump on Wednesday announced a 25 per cent tariff on Indian goods from August 1, amid signs of a stalemate in the ongoing bilateral trade negotiations between the two countries.
US President Donald Trump announced a deal with Pakistan to develop its oil reserves, suggesting Pakistan might sell oil to India in the future.
As in-person negotiations between India and the US kickstarted on Wednesday, Treasury Secretary Scott Bessent said he expected India to strike the first bilateral trade deal to avert President Donald Trump's reciprocal tariffs.
Stock markets will be driven by RBI's interest rate decision, tariff-related developments, global trends and trading activity of foreign investors in this holiday-shortened week, analysts said.
Trump's outburst comes amid escalating tensions between the US and its northern neighbour, following recent remarks by Canadian Prime Minister Mark Carney at the World Economic Forum (WEF) in Davos.
India and the United States on Wednesday agreed to fast-track technical negotiations for early conclusion of a Bilateral Investment Agreement during a meeting between Commerce and Industry Minister Anand Sharma and US Trade Representative Ron Kirk.
'No one can or will bar India from pursuing its energy goals as it wishes.' 'The US FTA wording may sound more restrictive, but the underlying reality will not undermine India's sovereign energy decisions.'
This is the first case involving India and the US at the WTO after both sides decided to withdraw all seven pending cases at the WTO during the Biden administration.
India and the United States will finalize the contours, schedule of negotiations, and terms of reference for a proposed bilateral trade agreement (BTA) during a three-day meeting beginning Tuesday. The agreement is expected to be finalized in two tranches, with the first phase focusing on goods trade. The US team, led by Assistant US Trade Representative for South and Central Asia Brendan Lynch, will be in India from March 25-29 to discuss the agreement. Both countries are aiming to conclude the first phase of the agreement by fall 2025.
India has not been included in the list of countries issued tariff letters by the US, providing relief to Indian exporters as trade agreement negotiations continue. The US has issued tariff letters to about 20 countries so far.
Issues related to the proposed free trade agreement (FTA) and bilateral investment treaty between India and the UK are expected to figure during the three-day visit of Finance Minister Nirmala Sitharaman to London from April 8-10, official sources said. The minister will attend a host of meetings, including the India-United Kingdom Economic and Financial Dialogue, in London.
Here is a list of Q & As to explain these issues and implications of the US move.
'We believe that in the new world order FTAs or bilateral trade agreements (BTAs) are the way forward.' 'They are enablers for our participation in global value chains. Today, around 70 per cent of global trade is tied to these chains.'
For India, the challenge is to strike a balance between tactical necessity and economic priorities, point out Pravin Krishna and Monil Sharma.
Prime Minister Narendra Modi strongly supported efforts to end the war in Ukraine and conveyed to Russian President Vladimir Putin that India will stand shoulder-to-shoulder in all peace efforts to find an amicable solution to the conflict.
United States President Donald Trump has said the trade deal with India is not finalised, as he stressed that India imposes more tariffs than almost any other country.
'The BNP's election manifesto lists grievances against India, mirroring the attitude of past BNP governments.' 'Political parties have been careful not to say bad things about China.'
From the Sensex firms, Trent, Tech Mahindra, Bajaj Finserv, Reliance Industries, Infosys, Kotak Mahindra Bank, HCL Technologies, and NTPC were among the biggest laggards. However, Eternal, Tata Motors, Sun Pharma, Tata Steel, and Titan were the gainers.
India has revised its proposal to impose retaliatory duties under the WTO (World Trade Organisation) norms against the US over American tariffs on steel and aluminium in view of the further hike in duty by the Trump administration. The US first imposed 25 per cent tariffs on imports of aluminium, steel and derivative articles on March 12.
India and Russia have solidified a five-year plan to enhance their economic and trade partnership, while also addressing the ongoing conflict in Ukraine and the threat of terrorism.
The deal fell through over unresolved disagreements over contentious issues, mainly on agriculture and automotive sector tariffs.
"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.
The agreement was to disengage from remaining standoff sites along the Line of Actual Control (LAC), two days before a meeting between Chinese President Xi Jinping and Prime Minister Narendra Modi on the sidelines of the BRICS Summit.
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