'Pakistan is an ally who gives the US access.' 'If we have a presence there, it puts us that much closer to China and puts our assets closer to China and Iran.'
The Asian Development Bank (ADB) on Wednesday lowered India's growth forecast for FY26 to 6.5 per cent from 6.7 per cent on account of trade uncertainty and higher US tariffs that are expected to impact exports and investment. Despite the downward revision from the April 2025 Asian Development Outlook (ADO), India remains one of the fastest-growing major economies in the world.
Navarro's remarks came after the public display of bonhomie by the three leaders on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Tianjin on Monday.
A team of senior officials from India will again visit Washington this month to hold discussions with their US counterparts on the proposed bilateral trade agreement (BTA), government sources said on Thursday. To give impetus to the talks, India's chief negotiator Rajesh Agrawal, special secretary in the Department of Commerce, and Assistant US Trade Representative for South and Central Asia Brendan Lynch had last month held three-day talks in Washington.
'Trump does have a master plan in mind to put pressure on India with the additional tariff of 25 per cent to get Modi to persuade Russian President Vladimir Putin to freeze the Ukraine war.' 'It has not worked so far. By end-September only we'll know for sure the future trajectory of India's oil purchases from Russia,' observes Ambassador M K Bhadrakumar.
India should simultaneously prioritise domestic exploration and production of more oil and gas in the country, and ensure we retain diversified suppliers for imports, points out former foreign secretary Ranjan Mathai.
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.
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.
The decision to hike US H-1B visa application fee to $100,000, trade talks and the GST rate cut will be the key drivers for stock market movement this week, analysts said.
US Secretary of State Marco Rubio claims President Donald Trump was instrumental in bringing about the cessation of hostilities between India and Pakistan, a claim India has consistently denied.
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".
Indian and US officials will begin deliberations on the proposed bilateral trade agreement in Washington from Wednesday with an aim to iron out issues and give an impetus to the negotiations.
The US remained India's largest trading partner for the fourth consecutive year in 2024-25 with bilateral trade valued at $131.84 billion, while the country's trade deficit with China widened to $99.2 billion during the same period, government data showed. In the last fiscal, India's exports to China contracted 14.5 per cent to $14.25 billion as against $16.66 billion in 2023-24. The imports, however, rose by 11.52 per cent in 2024-25 to $113.45 billion against $101.73 billion in 2023-24.
Of Trump's reciprocal tariffs and trade deals
United States President Donald Trump on Tuesday said India has not been a good trading partner and announced that he will raise the tariffs on New Delhi 'very substantially' over the next 24 hours because it is buying Russian oil.
Among Sensex firms, Eternal, Sun Pharma, Infosys, HDFC Bank, HCL Tech, Hindustan Unilever, Power Grid, ITC and Adani Ports were the major gainers. However, Tata Motors, Trent, Bajaj Finance and Asian Paints were among the laggards.
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.
US President Donald Trump has announced a 25 per cent plus tariff on India from Aug 1. Trump, describing India as a "friend", said the US has done relatively "little business" with the country because of its high tariffs.
'When negotiators meet next, they may like to bring new issues to the table.'
Among Sensex firms, NTPC, Axis Bank, Power Grid, Bharti Airtel, Eternal and Sun Pharma were the major gainers. However, Infosys, Titan, UltraTech Cement and Hindustan Unilever were among the laggards.
United States President Donald Trump once again mounted a sharp attack on India and Russia for their close ties and said that the two countries can take their 'dead economies down together'.
Who else will take on the might of Microsoft, Google, and Amazon if not the Adanis, Ambanis, Birlas, or Tatas?, asks R Jagannathan.
Describing the India-United States relationship as 'very complicated', US Treasury Secretary Scott Bessent on Wednesday hoped that 'at the end of the day, we will come together.'
'Geopolitically and diplomatically it's a very difficult situation for India.'
This will be the first face-to-face meeting between Rubio and Jaishankar following President Donald Trump's imposition of an additional 25 per cent tariff on India for Delhi's purchases of Russian oil, taking the total levies imposed on India by the Trump White House to 50 per cent.
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.
Among the Sensex firms, Mahindra & Mahindra jumped the most by 5.96 per cent. Bajaj Finance, Bajaj Finserv, Trent, ITC and HDFC Bank were also among the gainers. However, Maruti Suzuki India, Bharat Electronics, HCL Tech, NTPC, Power Grid, Infosys and Reliance Industries were among the laggards.
The Trump administration has told the US Supreme Court that it imposed tariffs against India for purchasing Russian energy products as part of its strategy to address the war in Ukraine.
From the Sensex firms, Tata Motors jumped the most by 5.54 per cent, followed by Kotak Mahindra Bank, Trent, Sun Pharma, Axis Bank, and ICICI Bank. However, Bajaj Finance, State Bank of India, UltraTech Cement and Tata Steel were among the laggards.
Rubio voiced "appreciation" for New Delhi's continued engagement on bilateral issues, including trade, defence and energy.
'Everybody in America loses because of what India is doing.'
Sullivan remarks come amid the rising friction between Washington and New Delhi due to the 50 percent tariffs imposed on Indian goods, which include a 25 percent penalty for buying Russian oil.
Strategic affairs experts express concern over US President Donald Trump's tariffs on India, his 'bullying tactics,' and increasing attempts to hyphenate New Delhi with Islamabad, signaling a potential shift in the bilateral 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.'
Ratings firm Crisil said on Wednesday that the uncertainties surrounding the US tariffs might be a new hindrance to capital expenditure decisions in the current financial year. The additional 25 per cent tariff imposed by US President Donald Trump on India for its purchases of Russian oil came into effect on Wednesday, bringing the total amount of levies imposed on New Delhi to 50 per cent.
From the Sensex firms, Bharat Electronics, Bajaj Finance, Bajaj Finserv, Axis Bank, Maruti and Tata Motors were among the gainers. However, Eternal, Hindustan Unilever, Trent and Titan were the major laggards.
The meeting, expected on September 25 on the sidelines of the UN General Assembly, will also be attended by army chief Field Marshal Asim Munir.
From the Sensex pack, IndusInd Bank, Infosys, Bajaj Finserv, Mahindra & Mahindra, Zomato, Hindustan Unilever, Power Grid, Axis Bank, UltraTech Cement, Adani Ports, and Tata Consultancy Services were among the laggards. On the other hand, Sun Pharmaceuticals, ICICI Bank, Bharti Airtel, HCL Technologies, Maruti Suzuki India, Larsen & Toubro, Reliance Industries, Kotak Mahindra Bank and Titan were the gainers.
Among Sensex firms, ITC, Bharti Airtel, Trent, Bajaj Finserv, Titan and Reliance Industries were the major laggards. However, UltraTech Cement, Adani Ports, Tata Motors, Bharat Electronics, Bajaj Finance and Hindustan Unilever were among the major gainers.
'While the President has been critical of India, he has gone out of his way to compliment PM Modi. They have an incredible relationship.'
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