Iran has lodged a formal complaint with the United Nations, accusing the US of engaging in 'piracy' following the seizure of Iranian vessels. The complaint was detailed in a letter sent by Iran's UN envoy to the UN Secretary-General and the Security Council.
The Indian government informed Parliament that India and the US are engaged in negotiations for a mutually beneficial multi-sectoral bilateral trade agreement. The two countries also cooperate on strategic, economic, and defense matters, managing divergences through high-level dialogues.
Indian companies, however, are now paying a premium of $6-$7 a barrel for Russian oil, compared with discounts of $8-$10 a barrel before the start of the conflict.
The US Central Command (CENTCOM) announced the start of operations to clear mines in the Strait of Hormuz, a claim swiftly denied by Iran, leading to increased tensions in the region amidst stalled negotiations between the two countries.
The agreement addresses non-tariff barriers and promotes increased trade in technology products and cooperation between the two countries.
Prime Minister Narendra Modi stayed calm, avoided public confrontation, and focused on India's long-term interests to steady ties with the United States.
There are enough people at the top decision-making level in Tehran who are still willing to negotiate, provided Trump can create the right setting for the negotiation to acquire a dynamic of its own, points out Ambassador M K Bhadrakumar.
Two India-bound LPG tankers have crossed the Strait of Hormuz amid heightened tensions in the region, while an India-flagged vessel sank after being hit near the strategic shipping corridor.
Prime Minister Narendra Modi on Tuesday announced the signing of the India-EU Free Trade Agreement (FTA), saying it accounts for 25 per cent of global GDP and one-third of global trade.
The Indian government has dismissed the US Commission on International Religious Freedom's (USCIRF) report on religious freedom in India, stating that it does not recognise the commission's authority to comment on the rights of Indian citizens.
A Pakistani delegation, led by Army Chief Field Marshal Asim Munir, has arrived in Tehran to mediate the ongoing conflict between the US and Iran, following initial talks in Islamabad.
Indian benchmark indices Sensex and Nifty experienced declines due to a sharp rally in crude oil prices, continuous foreign fund outflows, and geopolitical uncertainties. Regulatory developments in the banking sector, particularly the implementation of the Expected Credit Loss (ECL) framework, also contributed to the selling pressure.
Iran has denied agreeing to participate in a second round of peace talks, contradicting claims made by the United States. The denial comes as tensions remain high in West Asia, with a ceasefire window nearing its end.
Both countries commit to provide each other preferential market access in sectors of respective interest on a sustained basis
Indian benchmark indices Sensex and Nifty surged over 1 per cent, with the Sensex jumping 918.60 points, driven by strong buying in banking and financial counters and a positive trend in global equities, fuelled by hopes of easing West Asia tensions.
Pakistan is playing a key role in facilitating talks between the US and Iran, but the future of these negotiations remains uncertain. Despite ongoing diplomatic efforts, no dates have been set for a second round of discussions.
India and the US have agreed to a trade deal that will see Washington reduce reciprocal tariffs on Indian goods from 25% to 18%, according to US President Donald Trump. The deal also includes commitments from India to reduce tariffs and non-tariff barriers against the US and to increase purchases of American products.
Finance Minister Nirmala Sitharaman on Wednesday said global trade is increasingly "getting weaponised" through tariffs and other measures, and India will have to negotiate its way carefully. She said that the overall strength of the economy will give the country an added advantage.
US Commerce Secretary Howard Lutnick claims a trade deal with India failed because Prime Minister Narendra Modi did not call then-President Donald Trump, despite requests.
The Congress party has criticized the Indo-US trade agreement, calling it a 'surrender' of India's self-esteem and interests, and a betrayal of Indian farmers and MSMEs.
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.
India has clarified its position on the proposed interim trade agreement with the US, stating that the joint statement remains the basis for mutual understanding. Amendments to a White House fact sheet reflect shared understandings, with both sides working towards finalizing the agreement.
'Based on the joint statement, a formal agreement will be drafted, which may take a month or month-and-a-half to finalise. We aim to sign the formal agreement by mid-March.'
'Once the market decides it wants to go up, it goes up -- no amount of bad news can really hold it back.'
Indian stock markets extended their gains for a third consecutive day, with the Sensex climbing 753 points and the Nifty closing above 24,550, driven by a drop in crude oil prices and optimism surrounding potential peace talks between Iran and the US.
David Perdue said in a post on X that the US-India relationship delivers real results through close cooperation in diverse areas, including defence, energy and through Quad engagement.
The US team is in New Delhi for the next round of negotiations for the proposed bilateral trade agreement and the negotiations are progressing well, Commerce and Industry Minister Piyush Goyal said on Thursday. Some more US officials will reach India on June 6 to join the negotiations with their Indian counterparts.
As the negotiations continued, the Iranian government said on social media that "talks between Iran and the US in Islamabad entered the expert-level stage as economic, military, legal, and nuclear committees joined in".
China has called on Iran to reopen the Strait of Hormuz and expressed appreciation for Tehran's commitment not to develop nuclear weapons, a key demand of the US to end the conflict.
The India-US ties witnessed a major downturn after President Trump slapped a whopping 50 per cent tariff on Indian goods, including a 25 per cent punitive levy over Russian oil purchases.
The US and Iranian delegations left Pakistan after failing to reach an agreement in historic talks aimed at resolving the West Asia conflict and stabilising global energy markets.
Chinese Foreign Minister Wang Yi has urged Iran to guarantee freedom and safe passage through the Strait of Hormuz, a critical waterway for global oil trade, amid ongoing tensions with the US.
Congress leader Jairam Ramesh raised the issue of the Indo-US trade deal soon after the zero hour ended and alleged that the information about the deal was being received from Washington instead.
Trump criticised Iran for attempting to use international waterways for leverage, stating that the United States had restrained itself only to allow space for negotiations.
Vijay's electoral triumph in Tamil Nadu is poised to dramatically revive the fortunes of his much-anticipated final film, Jana Nayagan, which has been plagued by release delays, censorship battles, and a cancelled streaming deal.
The ceasefire is still technically holding, to the extent that no overt hostilities have been reported yet, but the rhetoric has hardened dangerously. The week ahead will also clarify whether the Islamabad failure was a negotiating tactic or whether Washington has genuinely locked itself into a position from which the only exits are climb-down, escalation, or the slow bleed of a new status quo that nobody chose and nobody controls. Prem Panicker continues his must read blog on the Iran War.
Indian stock markets are set to be influenced by ongoing developments in the US-Iran conflict, fluctuations in crude oil prices, and the latest quarterly earnings reports from major corporates, with foreign investor activity also playing a crucial role.
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.
Pakistan's Chief of Defence Forces Field Marshal Asim Munir held talks with Iranian leaders in Tehran to help resolve the conflict between the US and Iran, following a recent ceasefire agreement.
Iranian Deputy Foreign Minister Kazem Gharibabadi has urged India to take the lead in bringing peace to West Asia, highlighting the UAE's role in stalling BRICS consensus on the conflict. Gharibabadi also discussed a new framework with Oman for merchant vessels passing through the Strait of Hormuz.
