The way to deal with a bully is to resist bullying, because submission in the first instance only invites even more overbearing demands in future. What may seem like a small price to pay now will lead to a much higher price later, warns former foreign secretary Shyam Saran.
The United Arab Emirates (UAE) has agreed to look into India's concerns over compliance to rules related to the import of silver products, platinum alloy and dry dates, the commerce department said on Tuesday. During a joint committee meeting under the India-UAE trade deal, officials from New Delhi raised concerns over the recent surge in imports of these products. These were being shipped to India, taking advantage of the lower tariffs under the pact.
Krishna emphasised that India takes decision taking into consideration its domestic energy requirements.
India was the world's biggest importer of Russian oil in February, exceeding China by 20 million barrels.
'We have a great leader coming, the prime minister of Pakistan and the field marshal.'
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.
'Trump is not shy when he is frustrated with countries'
The country's imports from Russia almost doubled to $25.69 billion during the April-August period this fiscal due to increasing inbound shipments of crude oil and fertiliser, according to the commerce ministry data. With this, Russia has become India's second-largest import source during the first five months of this fiscal. The imports were $13.77 billion during April-August 2022.
By threatening to punish India with high tariff, Trump is actually planting a tantalising thought in the Indian mind that the Modi government should suitably 'incentivise' him, explains Ambassador M K Bhadrakumar.
Putin further described the Ukraine conflict as a mere "pretext" by Western powers to take these broader punitive measures against countries maintaining strong economic ties with Russia.
'The US values its relationship with India and under the strong leadership of President Donald J Trump and Prime Minister Modi, I am optimistic about the days ahead for both of our nations.'
'While the President has been critical of India, he has gone out of his way to compliment PM Modi. They have an incredible relationship.'
'If the near-term economic pain is absorbed more by those who have the ability and the financial strength to do so, then small and medium enterprises in downstream industries will emerge stronger from the trade imbroglio.'
With the India-US trade talks moving in the right direction, Commerce and Industry Minister Piyush Goyal is expected to visit Washington soon, sources said.
From the Sensex firms, HCL Tech, Infosys, Power Grid, Tata Consultancy Services, HDFC Bank, Hindustan Unilever, Bharti Airtel and ICICI Bank were among the major laggards. However, Titan, Larsen & Toubro, Maruti and Axis Bank were among the gainers.
New Delhi has reached out to Moscow while waiting for a new president in Washington. New Delhi knows well that in international relations, there are no permanent friends or foes, only permanent national interests, points out Dr Rup Narayan Das.
Ukraine's Ambassador to India Oleksandr Polishchuk asserted that Kyiv "will not give up and will not accept any territorial concessions" amid the ongoing Russia-Ukraine war. He also suggested Moscow has benefitted from trading with New Delhi.
'Both initiatives are welcome moves and we would commit ourselves with focused attention aligned with the national priorities, and pursue our exploration initiatives.'
The additional 25 per cent duty will come into effect after 21 days or August 27.
The government will formulate a strategy to make India self-reliant in edible oils by boosting domestic output of oilseeds and launch a comprehensive programme to support dairy farmers, Finance Minister Nirmala Sitharaman announced on Thursday. India imports a large quantity of edible oils to meet the domestic demand. During the 2022-23 marketing year (November-October), the country imported nearly 165 lakh tonnes of cooking oils, valuing a whopping Rs 1.38 lakh crore.
Prime Minister Narendra Modi, in his monthly 'Mann Ki Baat' radio broadcast, urged people to reduce their oil intake by 10% as a step towards fighting obesity. He highlighted the rising obesity rates in India and globally, emphasizing the need for healthier lifestyles. Modi also shared messages from Olympic medalist Neeraj Chopra and boxer Nikhat Zareen, who urged people to adopt healthy habits and avoid fried food. Cardiac surgeon Dr. Devi Shetty highlighted the medical seriousness of obesity and linked it to excessive carbohydrate intake and oil consumption. Modi concluded by challenging 10 people to reduce their oil intake and pass the challenge on to 10 others.
India's imports from Russia rose 64 per cent to $36.27 billion during the April-October period this fiscal on higher shipments of crude oil and fertiliser, according to the commerce ministry data. With this, Russia has become India's second-largest import source during the first seven months of this fiscal. The imports were $22.13 billion during April-October 2022.
'Modi's a great leader... But I don't understand why he's getting into bed with Putin and Xi Jinping...'
The ministry stated that for vehicles designed for E10 and calibrated for E20, mileage may drop by just 1-2 per cent, while in other vehicles, it could be around 3-6 per cent.
India's exports rose 9.03 per cent to $38.49 billion in April, the highest in six months, driven by healthy growth in sectors such as electronics and engineering goods, while the trade deficit widened to a five-month high of $26.42 billion. According to the commerce ministry data released on Thursday, imports increased by 19.12 per cent year-on-year to $64.91 billion in April due to a rise in shipments of crude oil and fertiliser.
Trump's new rules for how countries should treat him have led to the current breakdown in India-US relations, explains Ambassador T P Sreenivasan.
In response to US criticism of India's oil imports from Russia, the Indian Army shared a 1971 news clip highlighting the US's role in arming Pakistan.
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.
'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.'
'Just as we cannot surrender the interests of our farmers and dairy industry, Trump is also looking for markets for the produce of the farmers in the Midwest, which are his support base.'
India will take all necessary steps to safeguard and promote national interest, Commerce and Industry Minister Piyush Goyal said on Thursday, a day after US President Donald Trump announced 25 per cent tariffs plus penalty on domestic exports to America from August 1.
Russian oil giant PJSC Rosneft Oil Company is in early talks with Reliance Industries for sale of its 49.13 per cent stake in Nayara Energy, which operates a 20-million tonnes-a-year oil refinery and 6,750 petrol pumps in India, sources said. Reliance has held preliminary talks for acquisition of Nayara, which will help it overtake state-owned Indian Oil Corporation (IOC) to become India's No.1 oil refiner as well as give a meaningful presence in the fuel marketing space.
India's imports from Russia rose by about 67 per cent to $30.42 billion during the April-September period this fiscal on higher shipments of crude oil and fertiliser, according to the commerce ministry data. With this, Russia has become India's second-largest import source during the first half of this fiscal. The imports were $18.24 billion during April-September 2022.
The Indian team has returned from the US after holding trade talks with their American counterparts in New York, an official said on Thursday. Commerce and Industry Minister Piyush Goyal, who led the team, will be back on Friday.
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.
The era where nations thrived through rigid alignments is giving way to an age where the connective State defines power. For India, that era has arrived, points out Dr Nishakant Ojha.
As stringent sanctions imposed by the European Union and US are crippling business and trade, desperate Russian oil companies are offering huge discounts to India, provided a payment mechanism to bypass the SWIFT ban is quickly approved by the government. According to sources familiar with the development, Russian oil firms are offering 25-27 per cent discount to the dated Brent crude prices. State-run Rosneft is one the biggest oil companies that supply crude to India.
India's trade relations with Turkey and Azerbaijan are expected to come under strain due to Ankara and Baku backing Islamabad and condemning India's recent strikes on terror camps in Pakistan. Following their support to Pakistan, calls for boycotting Turkish goods and tourism have surfaced across the country, with online travel platforms such as EaseMyTrip and Ixigo issuing advisories against visiting these nations.
US President Donald Trump met with Pakistan Prime Minister Shehbaz Sharif and Field Marshal Asim Munir at the White House to discuss bilateral ties. This was the first formal bilateral interaction between Trump and Sharif.
'The background for the Saudi-Pakistan agreement is the fact that the regional security order has collapsed due to the Israeli attack on Doha.' 'The Americans have largely abandoned their security guarantee for West Asia and the region has no choice but to look at alternatives.'
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