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.
In a first, Indian oil public sector undertakings (PSUs) finalised a one-year contract to import around 2.2 million tonnes (mt) of liquefied petroleum gas (LPG) from the US. The LPG import deal comes at a time when negotiations for an India-US bilateral trade agreement (BTA) are gathering steam. Earlier in the month, US President Donald Trump had said Washington and New Delhi were "pretty close" to reaching a fair trade deal.
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.
The United States did not accept India's request for consultations under an agreement of the World Trade Organisation (WTO) concerning American tariffs on steel, aluminium, and related derivative products, Parliament was informed on Tuesday.
For Canada, important steps towards containing domestic elements that fuel pro-Khalistan sentiments can go a long way in signalling trust positively with regard to security and sovereignty, point out Harsh V Pant and Vivek Mishra.
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.
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.
To open gates to Free Trade Agreement between two countries in next 5yrs
Prime Minister Narendra Modi will travel to China to attend the Shanghai Cooperation Organisation (SCO) summit, marking his first visit in over seven years. The visit signals a potential improvement in India-China relations after recent tensions.
'After the Galwan clash, the rules of engagement changed with the army commanders allowed to use any means at their disposal as they deem fit for tactical operations.'
Netanyahu also expressed profound gratitude for the Indian government's steadfast support following the October 7, 2023, Hamas attacks in southern Israel. Addressing PM Modi, he stated, 'You stood next to Israel, you stood by Israel, you stood for Israel, you stood for the truth. Thank you, my friend.'
Finance Minister Nirmala Sitharaman on Tuesday said many countries have evinced interest for bilateral trade in the rupee after the RBI announced a mechanism recently. Speaking at Mindmine Summit 2022, she said this along with other steps taken by the government is towards full capital account convertibility. "It isn't the rouble-rupee which was in the old format. "Now this (bilateral rupee trade) formulation, which I am glad the RBI has come up at a time which was so critical," she said when asked if India is ready for capital account convertibility.
India and Canada have unveiled a roadmap to boost cooperation in trade, critical minerals, and energy, signaling efforts to rebuild strained relations following the killing of a Sikh separatist in 2023. Discussions include addressing concerns over pro-Khalistan elements and pursuing a balanced partnership.
A Chinese diplomat's aggressive comments threatening the Japanese Prime Minister over remarks about Taiwan have ignited a diplomatic row between China and Japan.
Prime Minister Narendra Modi and Chinese President Xi Jinping held bilateral talks focusing on economic ties and global stability amid trade tensions and the aftermath of the Ladakh border row.
European wines are set to enter the Indian market at lower prices under the bilateral free trade agreement as India will provide import duty concessions under the pact, an official said. Under the pact, the duty on EU wines would fall from 150 per cent to 20 per cent (for expensive ones).
'...but I would not like to put a timeline to it'
Alliances fight wars effectively only when they share an endgame. If Israel acted without US knowledge, then the military alliance is operating without real coordination at the level of strategic targeting. Neither picture is reassuring in a war that is no longer regional in its consequences. Prem Panicker continues his must read daily blog on the Gulf War.
The US is expected to push for sweeping changes in India's policies, ranging from tariff reductions to regulatory overhauls, that could benefit American firms and exporters, under the proposed bilateral trade agreement with India, think tank GTRI said on Sunday.
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.
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.
United States President Donald Trump on Wednesday (local time) hinted at reaching a new trade deal with India soon.
In the context of India's energy ties with Russia, Putin said certain "actors" dislike New Delhi's growing role in international markets in view of its close relations with Moscow and these elements are aiming to constrain India's influence for political reasons by imposing "artificial obstacles".
A bewildered world is at a loss to find bilateral and multilateral measures to stop President Trump from pursuing his vision of a world unabashedly dominated by the United States, points out T P Sreenivasan.
In a bid to promote the use of domestic currency for cross-border settlements, the Reserve Bank on Wednesday announced a slew of measures, including allowing banks to lend in Indian Rupees to non-residents from Bhutan, Nepal and Sri Lanka for bilateral trade.
Prime Minister Narendra Modi is likely to address the UN General Assembly in September. The session will address global conflicts and trade negotiations between the US and India.
Prime Minister Narendra Modi spoke with Russian President Vladimir Putin, discussing the Ukraine conflict and reaffirming the commitment to deepen the India-Russia strategic partnership. The conversation occurred amid US pressure on India over Russian oil purchases.
The meeting, expected on September 25 on the sidelines of the UN General Assembly, will also be attended by army chief Field Marshal Asim Munir.
India and Germany have examined ways to expand and intensify cooperation between the two countries, especially in trade and in the field of science and technology.
India's decision to import LPG from the US helps it to diversify sources as it reduces almost full reliance on West Asian countries for supply of the country's primary cooking fuel.
Commerce and Industry Minister Piyush Goyal on Tuesday said India and the 27-nation EU bloc are "really very near" to concluding talks for the proposed free trade agreement, with only a few issues left to be resolved.
India will restrict crude oil purchases from Russia as part of an agreement reached with the US in exchange for lower trade tariffs, sources said, adding imports will continue for now by refiners such as Nayara Energy, which have no other alternative source. US President Donald Trump announced overnight that the United States will cut the reciprocal tariff on imports of Indian goods to 18 per cent from 25 per cent under a broader bilateral understanding.
Lavrov, who addressed the UN General Assembly shortly before External Affairs Minister S Jaishankar's speech at the high-level General Debate, said India and Russia share a "particularly privileged strategic partnership".
'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.'
'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.'
'Given the lag in transmission, further softening of lending rates may happen in the coming months.'
'I look forward to speaking with my very good friend, Prime Minister Modi, in the upcoming weeks.'
US President Donald Trump announced a deal with Pakistan to develop its oil reserves, suggesting Pakistan might sell oil to India in the future.
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.
Myanmar is a member of the Asian Clearing Union and settlement of current account transactions including trade transactions are done through ACU.
