'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.'
Prime Minister Narendra Modi said on Thursday that India and the United States have set a $500 billion target for bilateral trade by 2030 and added that the teams of two nations will work together to finalise a mutually beneficial trade agreement.
'As negotiations continue, the path forward demands not only diplomatic skill, but also vigilance against legal asymmetries embedded in America's trade playbook.'
Among Sensex firms, Eternal, Tata Motors, State Bank of India, Adani Ports, NTPC, IndusInd Bank, Bajaj Finance, Asian Paints, Axis Bank and Sun Pharma were the major losers. Bharti Airtel, Tata Steel, Mahindra & Mahindra, Hindustan Unilever, Nestle and Maruti were among the gainers.
Prime Minister Narendra Modi and Chinese President Xi Jinping are expected to hold bilateral meetings on the sidelines of the SCO summit in Tianjin, as both nations look to strengthen ties amid global trade tensions.
Pakistan summoned the Afghan ambassador to convey its strong reservations over the India-Afghanistan joint statement issued in New Delhi, particularly regarding references to Jammu and Kashmir.
Reserve Bank and the finance ministry on Wednesday asked top management of banks and representative of trade bodies to push exports and import transactions in rupee. It was stressed during a meeting that banks should connect with their foreign counterparts for opening special rupee vastro accounts to facilitate cross-border trade in Indian currency rather than popular mode dollar, sources said. Trade associations and their foreign trading partners should explore opportunities to make use of the framework, sources added.
'When the Galwan incident took place, that was a big break in the trust factor between India and China.'
'Pakistan has found itself in a favourable position after Operation Sindoor by appreciating the mediation as claimed by Trump and recommending him for the Nobel Peace Prize.'
India and China have announced a series of measures aimed at improving their relationship, including maintaining peace along the border, reopening border trade, and resuming direct flights.
The commerce ministry is working on different scenarios to assess the possible fallout of reciprocal tariffs to be imposed by the US administration on April 2 on its key trading partners including India, sources said. US President Donald Trump has said that April 2 will be 'Liberation Day' as he plans to announce tariffs or import duties to bring down America's trade deficit, and promote the country's manufacturing.
US President Donald Trump on Thursday claimed that India has offered to drop all tariffs on American goods. Speaking at a business roundtable in Doha, Trump also said he had a "little problem" with Tim Cook, and he told the Apple CEO that he does not want him to build iPhones in India.
India has withdrawn the transhipment facility it extended to Bangladesh for exports to third countries, citing congestion at ports and airports. The decision comes after Bangladesh's interim government halted yarn imports from India and closed three land ports. The move has raised concerns about a downturn in India-Bangladesh relations following political instability and attacks on minorities in Bangladesh.
The Indian exporting community is "very" concerned about the possible reciprocal tariffs of the US as it could severely hurt MSME shipments to America in the short run, Federation of Indian Export Organisations President SC Ralhan said on Wednesday. He suggested that the government should come forward and support exporters to deal with these tariffs.
Government representatives told a parliamentary panel that the US has not officially conveyed to India that it should cut tariffs by April 2.
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.
These duties will come into force from April 9.
Among Sensex firms, Bharat Electronics rose the most by 4.26 per cent. HCL Tech gained 2.57 per cent, Bajaj Finance by 2.19 per cent, TCS by 1.99 per cent, Tech Mahindra by 1.88 per cent and Infosys by 1.85 per cent. Gains in Axis Bank and State Bank of India also supported the rally. However, Mahindra & Mahindra emerged as the biggest loser, falling by 2.47 per cent. Maruti dropped 1.53 per cent and Tata Motors by nearly 1 per cent due to profit-taking. UltraTech, Eternal and Power Grid were also among the laggards.
External Affairs Minister S Jaishankar met Russian President Vladimir Putin to discuss ways to further expand India-Russia ties, following talks with Foreign Minister Sergey Lavrov focusing on trade.
Fijian Prime Minister Sitiveni Rabuka discussed US tariffs on Indian goods with Prime Minister Narendra Modi, noting that "somebody is not very happy with you." The discussion occurred during Rabuka's visit to India to strengthen ties.
Prime Minister Narendra Modi arrived in China for the Shanghai Cooperation Organisation (SCO) summit. His meeting with President Xi Jinping is significant given global economic concerns.
Chinese Foreign Minister Wang Yi on Friday met Pakistan Army Chief Asim Munir and discussed regional security, counter-terrorism and matters of mutual interest.
Former White House trade advisor Peter Navarro accuses India of being an 'oil money laundromat' for Russia, alleging that India's oil purchases are funding Putin's war in Ukraine. The accusations come amid existing trade tensions and tariffs imposed by the US.
Pakistan Prime Minister Shehbaz Sharif said on Tuesday that his country respects Russia's relations with India, as he called for strengthening Islamabad's ties with Moscow during his talks with Russian President Vladimir Putin in Beijing.
'We have incredible cards, but I don't want to play those cards.' 'If I play those cards, that would destroy China.'
US Vice President JD Vance and his wife Usha, the first Indian-American Second Lady, are set to visit India early next week. Vance will hold talks with Prime Minister Narendra Modi during his visit. The visit comes amid global concerns over President Donald Trump's policy on tariffs. Vance's visit is likely to be more of a private trip though it will have official components.
The Global Times, a prominent state-run Chinese media outlet, published an article titled "China and India are cooperation partners, not rivals: Xi," highlighting President Xi Jinping's remarks about the bilateral meeting, saying, "as long as the two countries stick to this overarching direction, China-India relations can sustain steady and long-term growth."
Prime Minister Narendra Modi and his British counterpart Keir Starmer discussed the need to prevent the misuse of democratic freedoms by extremist ideologies. They also addressed terrorism and trade ties.
During the talks, India and the US decided to take a big leap in broad-basing their strategic ties in several critical areas.
India is committed to taking forward its ties with China based on mutual trust, respect and sensitivity, Prime Minister Narendra Modi told Chinese President Xi Jinping as the two leaders held wide-ranging talks to reset the bilateral relations.
The Centre is pushing for bilateral trade with Cuba and its settlement in rupee as a part of its strategy to internationalise the domestic currency. A delegation from Cuba, including officials from its central bank, met Indian government officials and banks last month to discuss bilateral trade and settlement using the Reserve Bank of India's (RBI's) payment mechanism in rupee, said people aware of the matter. Since the Cuban nation has opened up its economy and is looking to implement reforms to attract investments from India, Cuban banks have evinced interest in opening special rupee vostro accounts (SRVAs) with Indian banks.
The trade between India and China has touched an all-time high of $135.98 billion in 2022 while New Delhi's trade deficit with Beijing crossed for the first time a $100 billion mark despite frosty bilateral relations, according to data released by the Chinese customs on Friday. The total Sino-India trade for 2022 has climbed to 135.98 billion, overtaking the $125 billion mark a year earlier by registering an 8.4 per cent increase, according to the annual Chinese customs data. China's exports to India climbed to $118.5 billion, a year-on-year increase of 21.7 per cent.
Prime Minister Narendra Modi and Maldivian President Mohamed Muizzu held talks focusing on trade, defence, and infrastructure cooperation, signaling a turnaround in relations after a period of strain.
India and the US have settled the last trade dispute at the World Trade Organization (WTO) over poultry products, according to a joint statement released on Friday. With this, the two countries have mutually resolved all the seven pending trade disputes at the WTO. "The leaders lauded the settlement of the seventh and last outstanding WTO dispute between India and the United States.
Modi was received at the venue by Chinese President Xi Jinping and First Lady Peng Liyuan. On arrival, the Prime Minister exchanged greetings with the Chinese President before joining other leaders for the customary family photo session.
'I do believe there will be a resolution in the next couple of months on the penal tariff and hopefully on the reciprocal tariff also.'
Amid the ongoing global tariff war, Reserve Bank Governor Sanjay Malhotra on Wednesday said he is more worried about its impact on growth than inflation. Speaking to the media after presentation of the first bi-monthly monetary policy for the current financial year, Malhotra said, RBI has reduced the growth forecast for 2025-26 by 20 basis points to 6.5 per cent.
India and China should build on 'good progress' in normalising the bilateral ties to address border-related issues including de-escalation, and it is essential to avoid 'restrictive trade measures and roadblocks', External Affairs Minister S Jaishankar said on Monday during talks with his Chinese counterpart Wang Yi.
Pakistan's Army Chief Field Marshal Asim Munir met with Chinese President Xi Jinping, along with Pakistani Prime Minister Shehbaz Sharif, to discuss bilateral and regional cooperation. The meeting occurred during Sharif's visit to China for the Shanghai Cooperation Organisation (SCO) summit.
'Trump is not shy when he is frustrated with countries'
