The US 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. The US has maintained that these measures were introduced on the grounds of national security, Minister of State for Commerce and Industry Jitin Prasada said in a written reply to the Lok Sabha.
Waltz after being elected as the Co-Chair of India Caucus in January last year had said that India is the world's largest democracy and an important strategic partner for the United States.
Stock markets are in for an event-heavy week ahead with a raft of Q1 earnings from blue-chips, the US Fed interest rate decision and foreign investors trading activity driving investors' sentiment, analysts said. Macroeconomic data announcements, monthly auto sales numbers and global market trends would also guide movement in the domestic equities, they said.
A meeting with Chinese President Xi Jinping on the sidelines of the SCO summit is being planned.
"We are contributing about 18 per cent, which is more than the US where the contribution is expected to be much less -- about 11 per cent or something. We are doing very well and we will continue to improve further," RBI governor Sanjay Malhotra said, replying to a question on Trump's recent comments.
The defence minister also announced that India has taken up the challenge of developing a powerful indigenous aero-engine, adding that preparations for this critical project are now almost complete and the work will soon be visible.
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.
'India is cosying up to Xi Jinping. They don't need the Russian oil. It's a refining profiteering scheme.'
Titan, HCL Tech and State Bank of India were also among the laggards. However, Hindustan Unilever, Asian Paints, ICICI Bank, Power Grid, HDFC Bank and ITC were the gainers.
Commerce and Industry Minister Piyush Goyal on Tuesday expressed hope that India will conclude the proposed bilateral trade agreement (BTA) with the US by the fall or November this year. He said that "a little bit" of geopolitical issues overtook the trade matters in the negotiations for the pact between the two countries.
Trading sentiment in the stock market this week will be guided by quarterly earning announcements from blue-chips such as Infosys and Bajaj Finance, the outcome of India-US trade talks and global cues, analysts said. Markets may on Monday react to the quarterly results of three heavyweights - Reliance Industries, HDFC Bank and ICICI Bank, an expert said.
In an event-heavy week, stock investors will track quarterly earnings of several bluechip firms, the likely outcome of ongoing India-US trade talks, and inflation data for market cues, analysts said on Sunday. Moreover, global market trends and trading activity of foreign investors would also guide movement in equities, they said.
In trade negotiations, as in chess, sometimes you need to accept a temporary disadvantage to secure a better long-term position, points out Sonal Varma, chief economist (India and Asia ex-Japan) at Nomura.
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.
India and the United States will be signing a new defence framework during Prime Minister Narendra Modi's ongoing visit to the US, which will give a further fillip to the partnership between the two countries, a senior White House administration official said on Thursday.
'Personalities are temporary, policies provide for stability.' 'With the former, when personalities change so does the nature of the relationship.' 'Policies and structures, on the other hand, are idiot-proof, as well as maverick-resistant,' explains Saisuresh Sivaswamy.
US Vice President J D Vance and his wife Usha arrived in Delhi on Monday for a four-day visit. They were welcomed by Union Minister Ashwini Vaishnaw. Vance's visit comes amid ongoing trade talks between India and the US. Prime Minister Narendra Modi will host a dinner for the Vances on Monday evening after holding talks with the US Vice President. Vance and his family will also travel to Jaipur and Agra during their trip.
Besides colourful costumes, ethnic jewellery and the mandatory dandiyas, there's one more thing that is becoming de rigueur every Navratri.
'It brings precarious peace because the red lines have shifted. 'The next Pahalgam attack would mean a full scale war.'
Prime Minister Narendra Modi and US Vice President JD Vance have expressed satisfaction with the progress made in negotiations for a bilateral trade agreement. The two leaders met in New Delhi and discussed a range of bilateral issues, including cooperation in energy, defense, strategic technologies, and other areas. They also exchanged views on regional and global issues of mutual interest.
Official sources said Modi also congratulated Trump on the performance of his Republican Party in the US Congressional elections, as both leaders affirmed that they would work together for world peace.
'As far as skilled immigration is concerned, the US needs Indian skills and Indian talent, and there are no two opinions about it even among US companies.'
Vance is expected to be accompanied by at least five senior officials, including from the Pentagon and the State Department, the people cited above said.
India's pharmaceuticals and medical devices industries are still hopeful that trade negotiations with the US could cut a fairer deal for both sides, after President Donald Trump announced a 25 per cent tariff rate on India on a social networking platform without divulging the finer details.
'Trump is likely being purposefully vague, hoping that this lack of clarity will pressure India, fearing the worst, to agree to scale back its imports of Russian oil.'
Merchandise exports to the US jumped 23.5 per cent year-on-year (Y-o-Y) to $8.3 billion in June, even as India's overall outbound shipments witnessed contraction during the month, according to the data released by the commerce department on Tuesday. The increase in outbound shipments to the US was largely driven by the rush among exporters to utilise America's pause on its plans to impose country-specific reciprocal tariffs.
IndusInd Bank, Nestle, UltraTech Cement, Mahindra & Mahindra, Power Grid, Asian Paints, Sun Pharma and Tech Mahindra were also among the laggards. Bajaj Finance, Bharti Airtel, ICICI Bank, Adani Ports and HCL Tech were among the gainers.
Trump, who has repeatedly said that he stopped the conflict between India and Pakistan through trade, last Friday said for the first time that "five jets were shot down" during the fighting.
A statement issued by State Department Spokesperson Tammy Bruce said Landau "reaffirmed the United States' strong support of India in the fight against terrorism and the strategic partnership between the two countries".
'Pakistan is no longer a front-burner issue for America.'
Pakistan is "in an active counterterrorism fight right now and they have been a phenomenal partner in the counterterrorism world", the general said.
'The strategic direction of the relationship will not be affected. But the perception has been affected.'
Foreign brokerages remain cautious on the road ahead for the Indian equity markets. Though analysts at Nomura have revised their March 2026 Nifty target to 26,140 levels from the earlier 24,970, but the upside from the current levels is a modest 6 per cent. BofA Securities, on the other hand, has not made any change to its year-end Nifty target.
'A less tense US-China relationship would make Beijing less likely to provoke India -- including on the border -- in retaliation for its close defence ties with the US.'
'Unfortunately, India and Pakistan could learn a 'lesson' from this conflict that will make them more likely to use these weapons against each other in the future.' 'Rounds of missile and drone attacks could be more routine features of their hostility, just like artillery fire has become a familiar fact of life along the Line of Control.'
Jimmy Carter, the 39th president of the United States, was the third American leader to visit India during which a village in Haryana was named Carterpuri in his honour.
"We continue to raise our concerns directly with the Indian government at senior levels," State Department Deputy Spokesperson Vedant Patel said.
US President Donald Trump and Indian Prime Minister Narendra Modi met in Washington D.C. to discuss a range of issues including trade, defense, and energy. The two leaders announced plans to finalize "wonderful trade deals" for both countries, and Trump emphasized the need for India to purchase US oil and gas. Modi congratulated Trump on his second term and highlighted the importance of working together to further strengthen the India-US relationship. The meeting also addressed the ongoing conflict in Ukraine, with Modi reiterating India's commitment to peace.
'There's a lot of sense in what Prime Minister Modi did, but the Indian government has to be really prepared for a really sharp escalation spiral.'
The main focus of the all weather RISAT-1B satellite will be to observe the Indian land with its C-band synthetic aperture radar.
