'April 9 announcement of slapping a 125% tariff on Chinese goods has brought the focus back to China, making this new phase feel like a repeat of the original conflict.'
'As negotiations continue, the path forward demands not only diplomatic skill, but also vigilance against legal asymmetries embedded in America's trade playbook.'
Prime Minister Narendra Modi will host Russian President Vladimir Putin for a private dinner and summit, focusing on defence, trade, and geopolitical issues, including the Ukraine conflict and the impact of US sanctions.
'The US slump could hit our hosiery market hard since 40 per cent of our exports go there.' 'Job losses could be severe if the government doesn't step in fast.'
Gor underlined that President Trump has a "deep friendship" with Prime Minister Narendra Modi, and that is something that is unique.
India's trade deficit with Russia continued to widen for the second consecutive year to $57 billion in the financial year 2023-24 (FY24), with Moscow becoming New Delhi's largest source of crude oil imports. All eyes will now be on Prime Minister Narendra Modi's visit to Russia during July 8-9, where he is set to meet President Vladimir Putin. This will be Modi's first visit to the Kremlin since the Russia-Ukraine conflict began over two years ago.
The Russians have termed Putin's visit to India, his first to this country since the outbreak of the Russia-Ukraine war, as 'Druzhba Dosti', which means 'friendship' in Russian and Hindi respectively.
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.
India would neither succumb to the Americans on issues of national security, such as its defence ties with Russia, nor cede ground on its domestic interests in the agriculture and dairy sectors.
The USA's steep 50 per cent tariffs on Indian goods entering America will severely impact exports and job creation in labour-intensive export sectors such as shrimp, apparel, leather and gems and jewellery. Exporters said that the imposition of a 25 per cent penalty on India over and above the 25 per cent tariffs move will disrupt the flow of Indian goods to its largest export market.
Communication channels between India and the US are open to resolve the ongoing tariff issues, and the glitch in trade ties is only temporary, given the long-term relationship between the two nations, government sources said on Wednesday. The US' 50 per cent tariffs on Indian exports to America came into effect from August 27, barring a few sectors.
US Ambassador-designate Sergio Gor emphasizes the importance of the India-US relationship after meeting with Prime Minister Narendra Modi, focusing on cooperation in defence, trade, and critical minerals.
Khaleda Zia, the former Prime Minister of Bangladesh and a dominant figure in the country's politics, has died at the age of 80 after a prolonged illness. Her career spanned decades and included periods of both power and controversy.
The BRICS nations have expressed concern over the proliferation of trade-restrictive actions in the form of 'indiscriminate rising' of tariffs, particularly measures used as a means of 'coercion', cautioning that such practices risk marginalising the Global South countries.
Speaking to reporters aboard Air Force One, Trump stated, "We have a deal," referring to the trade pact which will be routinely extended. "Every year we'll renegotiate the deal, but I think the deal will go on for a long time, long beyond the year. We'll negotiate at the end of the year," he added.
'Things may get much worse before they get better,' predicts Ajay Chhibber.
Government representatives told a parliamentary panel that the US has not officially conveyed to India that it should cut tariffs by April 2.
India has decided to authorise the country's biggest lender SBI to promote rupee trade with Russia and soon Moscow will name its bank to operationalise the mechanism, exporters' body FIEO said on Wednesday. The RBI in July issued a detailed circular asking banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. Currently, a large part of bilateral trade between India and Russia is getting settled in rupee due to sanctions imposed by the US and Europe following Moscow's attack on Ukraine.
'Should China's interest in the Teesta River projects be approved, it would likely result in heightened Chinese presence near the Siliguri corridor.'
Very sensitive items -- such as apples, which carry political weight and are closely tied to farmer interests in states like Himachal Pradesh and Uttarakhand -- may face restricted concessions.
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.
'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.'
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.
National Security Advisor Ajit Doval met with Russian First Deputy Prime Minister Denis Manturov to discuss bilateral military-technical ties and implementation of joint projects in strategic sectors. The meeting comes amid growing US pressure and tariffs on Indian goods.
Yunus's office, meanwhile, reconfirmed that financial and welfare assistance would be provided to Das' family, and relevant authorities would remain in close contact with them in the coming period.
These duties will come into force from April 9.
'India's farmers will be unable to compete with the US, given the subsidies that the latter provides its farmers.'
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.
India and Russia always stood "shoulder-to-shoulder" even in the most difficult situations, Prime Minister Narendra Modi told Russian President Vladimir Putin on Monday, against the backdrop of possibly the worst phase in New Delhi's ties with the US in over two decades.
Early this week, the US imposed sanctions on suppliers to Pakistan's ballistic missile programme, including three companies from China.
Chinese Foreign Minister Wang Yi stated that China mediated tensions between India and Pakistan, a claim disputed by India which maintains that the matter was resolved bilaterally.
Senior officials from India and the US engaged in virtual talks to discuss bilateral ties, focusing on trade, investment, critical minerals, and energy security, including civil nuclear cooperation.
The United States announced a 25 per cent tariff on India as the White House released an expansive list of duties that Washington, DC will impose on exports from countries around the world.
The Congress party has criticized Prime Minister Narendra Modi's description of India and the US as 'natural partners,' citing President Trump's claims of using trade as leverage in India-Pakistan relations. The remarks come amid ongoing trade negotiations and fluctuating relations between the two countries.
During the talks, India and the US decided to take a big leap in broad-basing their strategic ties in several critical areas.
The Galwan clashes indicate to the limitations in relations if they do not address border stability, points out Srikanth Kondapalli.
The Galwan clashes indicate to the limitations in relations if they do not address border stability, points out Srikanth Kondapalli.
Prime Minister Narendra Modi on Friday said India will never compromise the interests of its farmers, fishermen and dairy farmers, asserting that he would be ready to pay any price.
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.
Russia has a "special mechanism" to confront any challenge arising out of the US slapping punitive measures against India for its procurement of Russian crude oil, Russian charge d'affaires Roman Babushkin said on Wednesday.
