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.
India and the US will sit together in the next couple of weeks to decide on the nature of the proposed trade agreement and finalise its broad contours, a senior official said on Monday. During the recent visit of Prime Minister Narendra Modi to Washington, India and the US announced to more than double the two-way commerce to $500 billion by 2030 and negotiate the first tranche of a mutually beneficial, multi-sector bilateral trade agreement (BTA) by fall of 2025.
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.
'The real story of 2025 is that India officially stopped being a 'market of the future' and started acting as the world's primary economic engine.'
'When AI comes in, coders in Bangalore or Hyderabad will lose their jobs.'
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.
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.
Prime Minister Narendra Modi strongly supported efforts to end the war in Ukraine and conveyed to Russian President Vladimir Putin that India will stand shoulder-to-shoulder in all peace efforts to find an amicable solution to the conflict.
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.
India has said it will take all steps to protect its national interests and ensure comprehensive national security in all domains after Pakistan and Saudi Arabia signed a strategic defence pact.
The US Representative criticised the administration's new USD 100,000 fee on H-1B visas, observing that Indians hold 70 per cent of these visas and saying the change directly harms workers who have long supported US innovation across technology, science and medicine.
Russian President Vladimir Putin arrived in New Delhi for a two-day visit focused on strengthening ties with India, including defense cooperation and trade, amidst a changing geopolitical landscape.
Sanctioning Russian oil would have led to a sharp surge in oil prices to above $80 per barrel levels, which would impact pump prices in the US ahead of midterm elections next year.
Persisting uncertainties related to the US trade policies pose downside risk to the overall demand in the Indian economy while the inflation outlook for the near term has become more benign than anticipated earlier, RBI said in its latest bulletin on Thursday. In the August bulletin, the Reserve Bank of India (RBI) also said that India's sovereign rating upgrade by S&P bodes well for capital inflows and sovereign yields, going forward.
The US State Department has expressed concerns over India's trade imbalance with Washington and its purchase of Russian oil, emphasizing that President Trump has been clear with New Delhi on these issues.
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.
The 2025 US National Security Strategy marks a major pullback, with America turning backward and effectively allowing China greater dominance in Asia. while long-time partners like India are left to face an increasingly unstable global order largely on their own, observes Rajeev Srinivasan.
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.
'When our soldiers trained side by side, we demonstrated to the world that our partnership is strong, enduring and prepared to meet any challenge.'
From Sensex firms, Eternal dropped the most by 4.10 per cent. Maruti, Mahindra & Mahindra, UltraTech Cement, Power Grid, Nestle, Bajaj Finance, Hindustan Unilever and Asian Paints were also among the laggards. HDFC Bank dropped by 1.26 per cent and index major Reliance Industries by 1.13 per cent. Tata Steel, Infosys and ITC were the gainers.
From the Sensex firms, Kotak Mahindra Bank, Eternal, Asian Paints, NTPC, Bharat Electronics Ltd, Adani Ports, Infosys and State Bank of India were among the major gainers. However, Titan tumbled over 6 per cent. Trent, Axis Bank, Maruti and Hindustan Unilever were also among the laggards.
'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.'
India has called for a ceasefire, release of all hostages, and peaceful resolution of the Israel-Hamas conflict through dialogue and diplomacy. The Centre informed Parliament that India welcomed the agreement on the first phase of the Gaza Peace Plan. The article also covers India's energy sourcing strategy and the release of Indian fishermen by Pakistan.
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.
White House Press Secretary Karoline Leavitt said that Trump feels "very positive and strongly" about the future of India-US relationship.
'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.'
India and the US are likely to agree on an interim trade agreement before July 8 with New Delhi pushing for full exemption from the 26 per cent reciprocal tariff on domestic goods, an official said. The US on April 2 imposed an additional 26 per cent reciprocal tariff on Indian goods but suspended it for 90 days till July 9.
The US sees an opportunity to expand its strategic relationship with Pakistan but assures that it will not come at the expense of its ties with India, according to US Secretary of State Marco Rubio.
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.
Amid escalating India-US trade tensions, Nita Mukesh Ambani Cultural Centre -- the tony cultural event outfit run by billionaire Mukesh Ambani's wife -- has postponed next week's theatrical event in New York, citing "unforeseen circumstances".
'Rate cut looks unlikely and there is reason to believe that the cycle is over.'
Exports from India to the United States has risen by 21.4 per cent in 2002 to $11.82 billion, the highest in past decade, the US Commerce department said.
Prime Minister Narendra Modi on Saturday met United States Ambassador-designate to India Sergio Gor and said he was confident that India-US ties will further strengthen during his tenure.
India's major imports from the US include crude oil and petroleum products, gold and jewellery, plastics, aircraft, and electrical machinery and components. The key exports to the US comprise pharmaceuticals and biologicals, telecom equipment, precious and semi-precious stones, petroleum products, gold and precious metal jewellery, and ready-made garments.
The enduring relationship between the two countries have survived the disintegration of the erstwhile USSR in 1991, the end of the Cold War and the regime change in both countries, points out Rup Narayan Das.
Equity investors are up for an eventful trading week ahead as the 90-day suspension period of the reciprocal tariffs announced by US President Donald Trump ends on July 9, analysts said, adding that a positive outcome from the trade negotiations could further lift market sentiment, particularly benefiting trade-sensitive sectors.
Luckily for us, a Russia that is desperate to stay relevant in an emerging multipolar world finds in India a reliable geostrategic partner. The Russian proximity to India also keeps China from exploiting its economic dominance vis a vis Russia, points out Colonel Anil A Athale (retd).
This is the first case involving India and the US at the WTO after both sides decided to withdraw all seven pending cases at the WTO during the Biden administration.
Ahead of trade talks between Indian and United States officials in Delhi, White House trade advisor Peter Navarro said India, which has the 'highest tariffs' of any major country, is 'coming to the table'.
India and the US have collaborated through the past one month on launching a powerful satellite; are commencing joint production of GE Aerospace's F414 jet engines in India; India is participating in a massive three week-long military exercise in the Western Pacific, observes Ambassador M K Bhadrakumar.
