New Delhi, while opting not to retaliate yet to the American tariffs, has in recent weeks sought to reinforce its friendship with Moscow, and recalibrate its ties with Beijing rather than surrender to Washington's diktats.
Congress leader Shashi Tharoor disputes Donald Trump's claims of using trade to stop the India-Pakistan military conflict in May, citing conversations with government officials.
Congress general secretary Jairam Ramesh said Modi should take inspiration from former prime minister Indira Gandhi and stand up to the president of the United States.
European wines are set to enter the Indian market at lower prices under the bilateral free trade agreement as India will provide import duty concessions under the pact, an official said. Under the pact, the duty on EU wines would fall from 150 per cent to 20 per cent (for expensive ones).
India on Friday proposed imposing retaliatory duties under the WTO (World Trade Organisation) norms against the US over American tariffs on automobile sector in the name of safeguard measures. "The proposed suspension of concessions or other obligations would take the form of an increase in tariffs on selected products originating in the United States," according to a notification of the WTO being circulated at the request of India.
India's pharmaceuticals and medical devices industries are still hopeful that trade negotiations with the US could cut a fairer deal for both sides, after President Donald Trump announced a 25 per cent tariff rate on India on a social networking platform without divulging the finer details.
Jaguar Land Rover will begin assembling premium cars at its new Tamil Nadu plant on February 9, marking a step towards full-scale luxury car manufacturing in India.
Trump also praised Chinese President as "a great leader of a great country" and said the two sides had "already agreed to a lot of things."
In the present hyper-connected world, there are many domestic and global factors that affect financial markets. Of them, the most powerful and often least predictable are geopolitical events, which often boil down to one diplomatic headline.
Equity benchmark indices Sensex and Nifty ended higher in highly volatile trade on Tuesday, buoyed by heavy buying in bank and metal stocks, a firm trend in global markets and optimism over India-EU FTA. The 30-share BSE Sensex climbed 319.78 points, or 0.39 per cent, to settle at 81,857.48.
Congress leader Rahul Gandhi on Tuesday alleged that Prime Minister Narendra Modi buckled under United States pressure to finalise a trade deal and 'sold off' the hard work of Indian farmers through the agreement.
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.
From the 30-Sensex firms, Trent, Larsen & Toubro, Reliance Industries, InterGlobe Aviation, Maruti, ITC, Adani Ports and Bharat Electronics were among the biggest laggards. In contrast, Eternal, ICICI Bank, Tech Mahindra, State Bank of India and Tata Consultancy Services were among the gainers.
Brazilian President Luiz Inacio Lula da Silva on Wednesday (local time) issued a firm response to United States President Donald Trump's announcement of a 50 per cent tariff on Brazil by invoking the country's 'Economic Reciprocity Law', while asserting Brazil's sovereignty and rejecting 'any form of tutelage' in what he described as Trump's attempts to interfere in the country's internal judicial affairs.
US President Donald Trump greeted India on its 77th Republic Day, highlighting the historic bond between the two democracies amid ongoing trade tensions.
The United States did not accept India's request for consultations under an agreement of the World Trade Organisation (WTO) concerning American tariffs on steel, aluminium, and related derivative products, Parliament was informed on Tuesday.
As the potential threat of a steep 200 per cent tariff on pharmaceutical imports hangs in the air, analysts and industry insiders feel that focus on exports to non-US regions as well as domestic market will increase as a long-term trend. US President Donald Trump told CNBC's Squawk Box in the first week of August that planned tariffs on import of pharmaceutical products to the US could eventually reach up to 250 per cent.
Foreign portfolio investors (FPIs) infused Rs 22,615 crore into Indian equities in February, marking the highest monthly inflow in 17 months, driven by factors such as the interim India-US trade deal, correction in domestic market valuations, and strong corporate earnings.
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.
Macroeconomic data, global geopolitical developments and rising concerns over AI-related disruptions are likely to dictate sentiment in the stock market next week, even as investors may remain cautious amid ongoing volatility, according to analysts.
Prime Minister Narendra Modi on Thursday said the India-UK free trade pact will boost MSMEs and create jobs, and exuded confidence that the target of doubling bilateral trade will be achieved ahead of the target date of 2030.
Russian President Vladimir Putin announced his upcoming visit to India in December and expressed his intention to address the trade imbalance between the two countries, particularly concerning India's crude oil imports from Russia. He also lauded India's independent stance on international issues and highlighted the strong relationship between the two nations.
Uttar Pradesh's leading export hubs are reeling under the impact of a steep 50 per cent tariff imposed by the US on Indian imports, with exporters warning of job losses, stalled orders and shrinking market access. Industry leaders from Noida, Kanpur and Varanasi said the tariff has put years of painstaking market-building at risk, even as protests and demonstrations erupted in several districts last week.
China's ruling Communist Party is holding its annual leadership conclave to discuss the new five-year plan, the impact of US President Donald Trump's tariff war, and the ongoing anti-corruption crackdown in the military.
From the 30-Sensex firms, NTPC, ICICI Bank, Adani Ports, Bharti Airtel, Sun Pharma and Bajaj Finance were among the biggest laggards. However, Asian Paints, HCL Tech, Bharat Electronics and Reliance Industries were among the gainers.
The US Fed's interest rate decision will be the major factor dictating trends in the domestic equity market this week, with global movements and foreign investor activity also influencing sentiment, according to analysts. Stock markets ended the last week on a subdued note, with benchmark indices Sensex and Nifty closing flat.
China on Friday said it is assessing whether to start trade talks with the US on tariff reductions following recent approaches by Washington, a move that would possibly ease the tit-for-tit tariff war between the world's two largest economies. "China is making assessments as the United States has recently reached out to convey messages to China through relevant parties many times, expressing hope to engage in talks with Beijing over tariff issues," the Chinese Commerce Ministry said in a statement in Beijing.
United States President Donald Trump on Tuesday boasted about India-US defence cooperation, claiming that India's order for 68 Apache attack helicopters was delayed by five years and that Prime Minister Narendra Modi personally raised concerns over the long delivery period during a meeting with him.
'The US slump could hit our hosiery market hard since 40 per cent of our exports go there.' 'Job losses could be severe if the government doesn't step in fast.'
China defended the BRICS economic alliance, stating it is not a bloc for confrontation, after former US President Donald Trump threatened tariffs on countries aligning with its 'anti-American policies'.
One of the most uncivilised characteristics of this war has been the total disregard for international law and the laws of armed conflict, asserts Vice Admiral Biswajit Dasgupta (retd).
On President Putin's two-day trip to India, Jaishankar said for a "big" and "rising" country like India, it is important to maintain good cooperation with as many important players as possible in the world in line with freedom of choice.
'The US reciprocal tariff has added another element of uncertainty and the central bank may prefer to wait and get further clarity.'
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.
Industry associations and companies in the United States, including the US Chamber of Commerce, Coalition of Services Industries and the iconic bike company Harley Davidson have called on the Donald Trump dispensation to push India to reduce tariffs, non-tariffs, and regulatory barriers to boost American exports.
US Energy Secretary Chris Wright said that long-term oil supplies are 'abundant' and there are no worries regarding that, but in the short term, there is a need to get oil on the market.
Benchmark indices Sensex and Nifty ended marginally higher on Wednesday as a sharp decline in IT blue-chip stocks restricted the rally in the markets.
The comments came a day after US President Donald Trump said that Washington is "very close" to the trade pact with India.
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.
India will take all necessary steps to safeguard and promote national interest, Commerce and Industry Minister Piyush Goyal said on Thursday, a day after US President Donald Trump announced 25 per cent tariffs plus penalty on domestic exports to America from August 1.
