US strikes on Iran's three main nuclear facilities have once again raised concerns that Tehran might shut down the Strait of Hormuz - one of the world's most critical chokepoints, through which a fifth of global oil and gas supply flows.
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.
Amid trade tensions between Delhi and Washington, the NYT article gives an account of how relations between Trump and Modi "unraveled" after Trump's repeated claims of solving the four-day conflict in May between India and Pakistan, an assertion denied by India.
India on Tuesday opened its largest oil and gas bid round, offering 25 blocks covering 1.91 lakh square kilometers mostly in offshore area, as the government looks to boost domestic production to cut imports and help energy security. Petroleum Minister Hardeep Singh Puri launched the 10th bid round under the Open Acreage Licensing Policy (OALP) at the India Energy Week (IEW) in Mumbai.
Prime Minister Narendra Modi and Union Home Minister Amit Shah on Sunday called on President Droupadi Murmu separately within hours at the Rashtrapati Bhavan in New Delhi.
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.
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.
Among Sensex firms, Maruti zoomed the most by 8.94 per cent. Bajaj Finance rallied over 5 per cent, UltraTech Cement by 3.71 per cent, and Bajaj Finserv by 3.7 per cent. Mahindra & Mahindra, Hindustan Unilever and Trent were also among the gainers. However, ITC was the biggest loser, dropping by 1.26 per cent. Eternal, Tech Mahindra and Larsen & Toubro also declined.
State governments have requested the Centre for export incentives, lifting of import duty in the case of cotton for the textile sector and GST exemptions.
National Security Advisor Ajit Doval met with Russian President Vladimir Putin in Moscow to discuss bilateral cooperation, reaffirming India's commitment to the relationship despite external pressures. Doval also extended an invitation from PM Modi for Putin to visit India later this year.
India's goods exports rebounded in July after two months of contraction, with outbound shipments rising 7.3 per cent to $37.24 billion, led by a surge in exports to the United States before the country's reciprocal tariff kicked in and bolstered by a recovery in exports to other key markets.
'The US is strongly placed to expand its crude supplies to India.'
Deferment or rescheduling of the meeting assumes significance as the US has announced a staggering 50 per cent duty on Indian goods.
The deal fell through over unresolved disagreements over contentious issues, mainly on agriculture and automotive sector tariffs.
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.
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."
Kudumbashree's new initiatives like onasadya, Onam kits and gift hampers are a huge hit.
'If the INDIA bloc ever forms the government, they will be more than tempted to use such provisions to bring about regime change in BJP-ruled states.'
Since May 10, when Trump announced on social media that India and Pakistan had agreed to a "full and immediate" ceasefire after a "long night" of talks mediated by Washington, he has repeated his claim on several occasions.
After the war erupted between Russia and Ukraine, the US and Western nations imposed sanctions on Moscow. However, India has continued to purchase Russian oil.
Chinese envoy Xu Feihong stated that China opposes the US imposing tariffs on India, amidst a thaw in Sino-India relations and concerns over global trade disruptions.
Rubio mentioned the recent conflict between India and Pakistan that President Donald Trump has repeatedly claimed he solved.
'The current strain in the relationship is serious and likely to be long lasting.' 'Even if Trump suddenly changes his attitude toward India -- which he is entirely capable of doing -- it is unlikely that New Delhi will be able to pick up the pieces and respond as if nothing has happened.'
United States President Donald Trump has said there will be no trade negotiations with India until a dispute over tariffs is resolved, following his administration's decision to double tariffs on Indian imports.
'What the US appears to be doing is to force India to be "the buyer of last resort", on whom their products can be dumped, 1.4 billion people have to eat something, so why not eat American corn?' 'What is exercising the Trump lot is the fact that most of the farms are in solidly Republican Midwestern states: Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, Wisconsin,' points out Rajeev Srinivasan.
India is preoccupied with analysing the US sanctions, which may cut off India's access to discounted Russian crude and force it to buy at market prices.
To those who ask, "Is all this really worth it? Why can't domestic demand fill the gap?", it is important to remind them that only 13 economies since the Second World War have grown at 7 per cent or more for 25 years -- like India needs to. They all had one thing in common: Strong export growth underpinned by strong global engagement, explains Sajjid Z Chinoy.
'What the Americans want is to destabilise Iran. For destabilising Iran, you need access. 'One access is through Iraq. The other access is through Pakistan.'
The proposed 'Next Gen GST' with sweeping reforms, lower tax rates, and just two slabs, aims to boost the economy amid tariff threats and set the stage for a single tax rate regime by the time India becomes a developed nation, government sources said.
'India did not surrender. That was why he wanted to pressurise India by this 25% tariffs.'
'America holds about 16% of IMF voting rights, giving it crucial influence over Pakistan's desperately needed bailout loans.'
US President Donald Trump expresses frustration with the lack of progress in trade talks with India, imposing a 25% tariff. The move comes amid concerns over trade deficits and India's reliance on Russian military equipment and energy.
A meeting with Chinese President Xi Jinping on the sidelines of the SCO summit is being planned.
'New Delhi is not naive about its foreign policy choices.'
Commerce Minister Piyush Goyal assures Parliament that India will take necessary steps to protect its national interests following the US announcement of tariffs on Indian goods. The government is assessing the implications and engaging with stakeholders.
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.
Prime Minister Narendra Modi addressed the nation on Independence Day, focusing on economic growth, self-reliance, and national security. He emphasized manufacturing quality products at affordable prices, supporting farmers, and combating terrorism and infiltration.
Prime Minister Narendra Modi is likely to address the UN General Assembly in September. The session will address global conflicts and trade negotiations between the US and India.
From the Sensex firms, Trent, Tech Mahindra, Bajaj Finserv, Reliance Industries, Infosys, Kotak Mahindra Bank, HCL Technologies, and NTPC were among the biggest laggards. However, Eternal, Tata Motors, Sun Pharma, Tata Steel, and Titan were the gainers.
Some of the key names include: Maruti, M&M, Ashok Leyland, Britannia, Ultratech, JK Cement, Havells, Voltas, Amber, Metro, Trent, LemonTree, Indian Hotels, Niva Bupa, HDFC Life, IGL, Acme Solar, Suzlon, Swiggy, Delhivery, ICICI Bank, HDFC Bank, Bajaj Finance, Shriram Finance," according to a report by Motilal Oswal Financial Services.
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