External Affairs Minister S Jaishankar and US Secretary of State Marco Rubio discussed cooperation in trade, critical minerals, nuclear energy, and defence, reaffirming commitment to a free and open Indo-Pacific.
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.
India will now face a lower reciprocal tariff of 10 per cent, down from 25 per cent, after US President Donald Trump announced a new global levy on items imported into America in the wake of the Supreme Court verdict against his sweeping duties on several nations.
United States representative Sydney Kamlager-Dove while talking about the famous car selfie of Prime Minister Narendra Modi with Russian President Vladimir Putin said that it spoke a thousand words.
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.
India and the US have decided to reschedule their meeting to finalize the interim trade pact due to recent developments and implications, including changes in US tariffs.
Israel and the United States had a plan. Iran punched back. And now the Gulf is reeling, the world is beginning to feel the pain and, as on date, no one in Washington or Tel Aviv appears willing to admit that the punch has landed, notes Prem Panicker, continuing his must-read blog on the war in the Middle East.
Russian President Vladimir Putin will make a two-day visit to India from December 4 to hold annual summit talks with Prime Minister Narendra Modi that is expected to produce a plethora of significant outcomes, including in the defence sphere, to further solidify the bilateral strategic ties.
Following a Supreme Court setback, Donald Trump has announced an increase in global tariffs from 10% to 15%, impacting international trade relations and raising concerns about economic repercussions.
'We need to be very vigilant as we are passing through some fraught times.'
US shale oil would act as an alternative to India's heavy dependency on Russian crude, which is currently facing sanctions.
The relations between New Delhi and Washington are on a downturn after Trump doubled tariffs on Indian goods to a whopping 50 per cent, including 25 per cent additional duties for India's purchase of Russian crude oil.
The pause gives the US time to breathe, to regroup, to move its expeditionary force into position without risk of interception along the way. It gives Iran nothing -- on the ground, attacks against its infrastructure continue apace. Prem Panicker in his must read daily blog on the Gulf War.
'Whatever is necessary for life and is not made in your country, we will import it from outside.'
'A deal will only be possible if India stops buying Russian oil -- but even then, New Delhi must not compromise its core red lines.'
The Russians have termed Putin's visit to India, his first to this country since the outbreak of the Russia-Ukraine war, as 'Druzhba Dosti', which means 'friendship' in Russian and Hindi respectively.
'Trump says India will buy over $500 billion of US goods.' 'At present, India's annual imports of goods and energy from the US are under $50 billion.' 'Reaching $500 billion would likely require more than 20 years, suggesting the figure refers to a long-term aspiration rather than a near-term commitment.'
Chinese import tariffs have unwittingly come to India's assistance to help boost imports of US liquefied petroleum gas (LPG) at rates cheaper than what it pays for supplies from West Asia, according to industry sources and shipping data.
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".
Lutnick said that these countries have to understand that if "you want to sell to the US consumers, you've got to play ball with the President of the United States."
India and the US are expected to sign the first phase of a bilateral trade agreement by mid-March, which will result in the US lowering import duties on Indian goods. India will then begin reducing import duties on certain US goods.
India and the US are expected to sign the first phase of a bilateral trade agreement by mid-March, which will result in the US lowering import duties on Indian goods. India will then begin reducing import duties on certain US goods.
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.
If India caves in to US pressure as Trump hopes it will, he will further try to blackmail it into submission, points out Ramesh Menon.
Putin's State visit will centre on fixing the huge India-Russia trade imbalance, with both sides pushing to lower duties, ease non-tariff barriers, and seal a landmark mobility pact to send more Indian workers to Russia.
Prime Minister Narendra Modi conveyed to Ukrainian President Volodymyr Zelenskyy that India remains committed to making every possible contribution for an early and peaceful solution to the conflict. Zelenskyy sought India's support in limiting Russian energy exports.
What we are watching is something different: A fog manufactured and maintained by the people who started the war, so that the question of why it was started never has to be answered, observes Prem Panicker in his must read blog on the war in the Middle East.
President Trump addresses questions about US imports from Russia and India's stance on purchasing Russian oil, hinting at potential tariffs.
'Trump is not shy when he is frustrated with countries'
India has managed high government debt-to-GDP, a slowing domestic revenue engine, lower household savings and a more hostile geopolitical environment separately in the past. But together, they threaten to undo the growth narrative on which today's optimism rests, warns Debashis Basu.
'Without ground troops the US will not be able to oust the Iranian Islamic regime. Political change does not happen just by using bombs or planes.'
'The contours of the trade deal need to be reworked now.'
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.
He added that India sells to the US, its biggest "client", "massive" amounts of goods, "but we sell them very little - Until now a totally one sided relationship, and it has been for many decades."
Notably, US President Donald Trump and his administration have continuously targeted India over its purchase of Russian crude oil. India, on the other hand, has always maintained that India's purchases are based on its domestic needs and economic security.
Indian exports to the US will face a 10% tariff, down from 25%, for 150 days following a US Supreme Court ruling. However, uncertainty persists due to potential further tariff hikes and long-term implications.
Prime Minister Narendra Modi on Saturday 'deeply' appreciated United States President Donald Trump's 'positive assessment' of the India-US partnership after the American leader hailed the 'special' relationship between the two nations -- remarks seen as an attempt to check the downturn in the ties.
India's unabated tryst with Russian crude oil is slowly coming to an end. The time has come for Indian refiners to navigate, creatively, the choppy waters of the post-honeymoon period, and for Indian policymakers to take cognisance of the broader impact on India from the spillover of the Russian crisis - after Washington's warning to transgressors last week. Shipments from Russia to India have averaged over 1.8 million barrels a day since February, according to data from Paris-based market analytics firm Kpler. But much of the crude shipped to India was non-sanctioned because it traded below a price cap set by the US led G-7 nations in December.
"In principle, the ask in return is that India should not support the G7 (Group of Seven) proposal. "A decision on this issue will be taken later following talks with all the partners," an official with the Ministry of External Affairs (MEA) said.These "substantial discounts" will be steeper than those offered by Iraq in the past two months, officials said.
Commerce and Industry Minister Piyush Goyal announced that an interim trade agreement between India and the US is likely to be signed in March and operationalised in April, with chief negotiators meeting in Washington to finalize the details.
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