The two leaders also agreed that bilateral trade will be conducted on Most Favoured Nation basis.
US President Donald Trump reiterated his claim that he "settled" the conflict between India and Pakistan, suggesting it averted a potential nuclear war. He also claimed that several planes were shot down during the conflict.
The CII Business Summit 2025's inaugural session witnessed a rousing standing ovation and a felicitation ceremony for the defence top brass sending a strong message about India's rising military industrial complex and hghlghting that security is a top-of-the-mind issue for India Inc.
US Secretary of State Marco Rubio praises India's measured and professional investigation into the Red Fort car explosion, calling it a terrorist attack. The US has offered assistance, but acknowledges India's capabilities in handling the investigation.
Defence Minister Rajnath Singh lauded 'Operation Sindoor' as a prime example of tri-services synergy, emphasizing Pakistan's ongoing recovery from the operation's impact. He highlighted the need for coordinated defense strategies and civil-military fusion to address modern security challenges.
Trump went on to say that "I'm using trade to settle scores and to make peace."
Jaishankar said that the Pahalgam attack "was an act of economic warfare. It was meant to destroy tourism in Kashmir, which was the mainstay of the economy. It was also meant to provoke religious violence because people were asked to identify their faith before they were killed."
The $22.8 billion CK Hutchison ports deal intensifies geopolitical tensions between the US and China. Chinese media has already called it 'a betrayal of all Chinese people'. Shyam G Menon explains how the proposed sale will reshapes global trade infrastructure.
'We believe that in the new world order FTAs or bilateral trade agreements (BTAs) are the way forward.' 'They are enablers for our participation in global value chains. Today, around 70 per cent of global trade is tied to these chains.'
India should convert the Trump threat to an India opportunity, re-embracing a more liberal trade regime as a way of reviving manufacturing output and exports.
The share of Ahmedabad in the total value of trades on both the BSE and NSE is set to touch double digits for the third year in a row.
Trump's new rules for how countries should treat him have led to the current breakdown in India-US relations, explains Ambassador T P Sreenivasan.
'Pakistan is no longer a front-burner issue for America.'
Domestic benchmark equity indices may see a positive trading sentiment on Friday thanks to a spectacular rally in world markets after the US President Donald Trump announced to put tariff hikes on hold for 90 days, excluding China from the reprieve. Indian stock markets were closed on Thursday for Shri Mahavir Jayanti. Trump has declared a three-month pause on reciprocal tariffs on non-retaliating countries marking a rather unexpected U-turn after record high levies he imposed led to global stock market meltdown.
BMW India CEO says gradual five-year import duty cuts under new FTAs create buyer hesitation and urges government to announce year-wise rates instead.
Indian corporate are increasingly shifting away from bank funding towards alternative sources, such as equity and bond markets, as their deleveraged balance sheets have improved their ability to raise equity at better valuations. Moreover, the 100 basis points (bps) rate cut by the Reserve Bank of India (RBI) has enabled them to access long-term funds from the debt capital market at cheaper rates.
China's export curbs on critical minerals crucial for India's electronics sectors are no longer mere warnings but a wake-up call for New Delhi, underscoring the need for urgent measures like reverse-engineering of low- to mid-tech imports to cut overreliance on Beijing, think tank GTRI said on Thursday.
Moody's Ratings on Tuesday said India has a lower overall exposure to the US relative to others in the APAC region, although certain sectors such as food, textiles and pharmaceutical products face risks. Moody's said most companies in its rated portfolio are domestic-focused with limited exposure to the US market.
The formulations in the declaration in reference to terrorism is going to be to our "satisfaction", Dammu Ravi, secretary (economic relations) in the external affairs ministry said on Monday.
New investors should not allow themselves to fall prey to FOMO and rush headlong into gold.
The recipe for Indian higher education institutions to succeed in the global markets is excellence in academics, promoting contemporary socially relevant material, and enabling individuals (learners) to realise their full potential, suggests N Ravichandran.
'No respite from economic pain is worth the loss of dignity and self-respect,' asserts former foreign secretary Shyam Saran.
Echoing United States President Donald Trump's stance on imposing economic sanctions against countries maintaining trade ties with Russia if Moscow doesn't put an end to the conflict in Ukraine, North Atlantic Treaty Organisaiton (NATO) Secretary General Mark Rutte on Tuesday (local time) urged India, China, and Brazil to reconsider their economic relations with Russia, warning of potential secondary sanctions, reported Reuters.
He conveyed this during a telephonic conversation with US Secretary of State Marco Rubio, according to a statement posted by the state-run Pakistan Television on X.
Pakistan and China are among the countries which are testing nuclear weapons, United States President Donald Trump has said to justify his administration's plans to resume testing of the US's own nuclear assets after a gap of over three decades.
Prime Minister Narendra Modi on Saturday graced the 60th Independence Day celebrations of the Maldives as the guest of honour, signalling a renewed warmth in bilateral ties after a spell of unease.
'The danger is that when the music stops, the fall will be sudden, faster, and deeper than anyone expects,' warns Debashis Basu.
'We need to be very vigilant as we are passing through some fraught times.'
In the short run, the Trump presidency has already ensured one thing: The assumptions of the past can no longer guide the strategies of the future, points out Manish Dabhade.
With United States President Donald Trump reiterating his claims of brokering a ceasefire between India and Pakistan, the Congress on Wednesday asked what do the 'typically loquacious' Prime Minister Narendra Modi and External Affairs Minister S Jaishankar have to say about this revelation and did they 'mortgage' India's security interests in the face of US 'pressure'.
'In the Indian government there are no illusions about the United States reliability or the possibility of having any kind of preferential treatment from Washington when it comes to trade.'
A day after a breakthrough deal between India and the US on food security related issues, the WTO on Friday said there was a "high probability" of reaching an agreement within two weeks on the stalled Bali package to facilitate easier global trade flows.
Reserve Bank of India (RBI)Governor Sanjay Malhotra on Friday said it was not the regulator's job to take decisions for bank boards, speaking in the context of the wide range of enabling reforms announced for lenders during the October monetary policy review, and emphasised that financial stability remained the regulator's focus.
'That way you're not hostage just to US sort of exports to India.'
The strategy was straightforward - aggressively buy select Bank Nifty index stocks in the morning and sell them just as forcefully later in the day, triggering a sharp drop in share prices.
Increasing cooperation in critical minerals will top Prime Minister Modi's agenda during his discussions with leaders of Ghana, Argentinia, Brazil and Namibia.
US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now.
Decisive action has replaced dossiers and the new India can go to any extent to uproot terrorism, Defence Minister Rajnath Singh said on Monday while stating that Operation Sindoor was on pause as the armed forces had achieved the desired objectives.
'Saudi-Pak defence pact is to anchor the defence and security of Saudi Arabia and not Pakistan, per se, with Islamabad being the junior partner.'
