India's political landscape is ablaze with activity! From the ongoing debates surrounding the new farm bills and their impact on rural India, to the upcoming state elections shaping the national narrative, the stakes couldn't be higher. Key political figures are maneuvering strategically, with alliances shifting and power dynamics constantly in flux. The opposition's challenge to the ruling party is intensifying, sparking vigorous debates on crucial policy matters including economic reforms and social justice initiatives. Parliamentary proceedings are filled with heated exchanges, reflecting the deep divisions within the nation. This evolving political climate directly impacts the lives of every Indian citizen, influencing everything from economic opportunities to social welfare programs. Stay informed about the latest developments in Indian politics, from crucial legislative decisions to grassroots movements, by exploring Abtak.com for in-depth analysis and breaking news updates. Understanding the intricacies of our political system is crucial; stay engaged, stay informed, and stay ahead.
New Delhi: With just 48 hours left for 90-day pause on US reciprocal tariffs to end, the much-anticipated bilateral trade agreement (BTA) between India and the US has reached a critical stage. According to two officials in the Indian commerce ministry and one in Washington, the agreement is unlikely to be finalized without direct political intervention to resolve some of the remaining sticky issues. "It's down to the wire. Unless there's political direction, the deal may not go through in time," said the first of the two Indian representatives cited above. "If all goes well, the deal will be announced before the 9 July deadline," the person added. Indian negotiators, however, are also closely watching recent remarks by the US Treasury Secretary Scott Bessent, and believe there may still be space to work things out. If the BTA is not signed by 9 July, they expect the deadline could be extended to 1 August. Until then, President Trump's letter announcing reciprocal tariffs on countries seen as unfair traders may remain on hold. The deal is currently on President Trump's desk for final approval, after the US Trade Representative (USTR) cleared the negotiated terms. But Indian officials remain cautious. "The approval of the negotiation terms by the USTR is not the final step, as the deal must ultimately be cleared by President Trump. In Vietnam's case, even after the USTR gave its approval, the terms were later changed by the President," said the second Indian representative, requesting anonymity. Queries sent to the Indian commerce ministry, spokespersons of the US Embassy in New Delhi, the USTR and US commerce department remained unanswered. "The Indian negotiators have put forward certain conditions for the deal, particularly on sensitive issues such as agriculture, dairy, and genetically modified seeds. These conditions are restrictive in nature and may prevent American agricultural goods from being exported to India," said the person from Washington, cited earlier. However, according to the second Indian representative, the deal may be announced by leaving out some Indian products with significant export interest, and the same could apply to certain US goods. "These issues may be taken up in later phases of the discussions." India's key export interests to the US include sectors such as engineering goods, electronic items, drugs and pharmaceuticals, textiles, gems and jewellery. Key US export interests to India include agricultural products such as almonds, dairy, and genetically modified (GM) seeds; medical devices; ICT goods; and energy exports such as LNG and crude oil. The US also seeks greater access for defence equipment, automobiles, and digital services, while pushing for fewer restrictions on data flows and e-commerce. "India is looking favourably at the trade deal, as it will provide certainty to our exports," said Ajay Sahai, director-general, Federation of Indian Export Organisations. As earlier reported by Mint, the US has proposed two alternatives for tariff reduction in case the White House does not "fully agree" with the terms finalized by Indian negotiators and their American counterparts. Under the proposal, a 10% additional base tariff would apply if India agrees to the US terms, and 20% if it does not -- effectively offering India a relief of 6% from the current 26% reciprocal tariff. Recently, Union commerce minister Piyush Goyal said that India never enters into trade deals based on deadlines or time pressure. "A deal is accepted only when it is fully matured, well-negotiated, and in the national interest," Goyal said. "It should be a win-win agreement, and only when it is mutually beneficial. India's interests must be safeguarded. National interest will always be supreme. Keeping that in mind, if a good deal is formed, India is always ready to engage with developed countries," he told reporters on the sidelines of an event. Meanwhile, Union agriculture minister Shivraj Singh Chouhan on Monday said a trade deal with the US would be signed keeping the interest of Indian farmers at the forefront. Agriculture, especially genetically modified (GM) crops such as soyabean and maize, and dairy have emerged as contentious issues in trade deal with the US. According to commerce ministry data, Indian goods exports to the US in the last financial year (FY25) increased by 11.6%, from $77.52 billion in FY24 to $86.51 billion in FY25. Imports from the US also rose, but by a smaller margin of 7.42%, increasing from $42.20 billion to $45.33 billion during the fiscal year that ended on 31 March. Meanwhile, imports of goods from China rose by 11.5%, from $101.74 billion in FY24 to $113.46 billion in FY25, while exports to China decreased by 14.5%, from $16.67 billion in FY24 to $14.25 billion in FY25, the data showed.
U.S. President-elect Donald Trump said on Monday that on his first day in office he would impose a 25% tariff on all products from Mexico and Canada, and an additional 10% tariff on goods from China, citing concerns over illegal immigration and the trade of illicit drugs. "On January 20th, as one of my many first Executive Orders, I will sign all necessary documents to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States, and its ridiculous Open Borders," Trump said in a post on Truth Social. Trump said the tariffs would remain in place until the two countries ...Read More >
Bengaluru -- Gold prices rose for a second session on Tuesday as the dollar weakened, with markets evaluating the possible consequences of US President Donald Trump's policies in his second term after his inauguration. Spot gold gained 0.6% to $2,724.74/oz by 2.40am GMT. US gold futures was 0.2% lower at $2,742.50. The dollar was down about 1% after reports suggested any new taxes would be imposed in a "measured" way. A weaker dollar makes gold more attractive to foreign buyers. "There is a sense of relief in risk sentiment to know that tariffs have not been an immediate focus. The unwindin ...Read More >
Pointing to the increase in the country's stature in the world forum, he asked how, under these circumstances, the promises made to farmers cannot be fulfilled. "Policy-making is not on right track," he added.. Jagdeep Dhankhar's comments come amid a spike in farmer protests. Vice President Jagdeep Dhankhar took up the farmers' issue and questioned the government on their behalf today, directing most of his queries at the Union agriculture minister. Pointing to the increase in the country's sta ...Read More >
This is a Mint Premium article gifted to you. Subscribe to enjoy similar stories. New Delhi: The debate on laboratory-grown meat, dairy, and egg products may soon be settled, with the issue reaching India's apex food regulator, three people aware of the development said. The development comes in the backdrop of concerns about public health, food security and ecological sustainability. While the Food Safety and Standards Authority of India (FSSAI) has put in place a regulatory framework for plant-based protein products, manufacturers and sellers of fermentation-derived and cultivated protein ...Read More >
Union Minister of Rural Development and Agriculture & Farmers' Welfare Shri Shivraj Singh Chouhan launched the third edition of Nayi Chetna - Pahal Badlaav Ki, a national campaign against gender-based violence, at Rang Bhawan Auditorium, New Delhi yesterday. Delivering his address, Shri Chouhan stated that the Government has taken a slew of initiatives for women's economic and social development. He stressed that gender-based violence is not an issue that persists in rural areas, but in urban areas as well. He said with the presence of Union Minister of Women and Child Development Smt. Annpurn ...Read More >
JAKARTA (Reuters) - Indonesia and Canada on Monday signed a Comprehensive Economic Partnership Agreement (CEPA) that aims to strengthen economic ties between the two G20 members, three years after negotiations began. The agreement will take effect in 2026 and was signed in Jakarta by trade ministers of both countries. Indonesia's trade minister, Budi Santoso, said Indonesia appreciated Canada's support for its plan to prioritise its critical minerals sector, which was vital for its sustainable growth. "Together, we advance sustainable critical mineral management, supporting Indonesia's net ...Read More >
As per Moneycontrol's calculations, a 7 per cent growth in the remaining two quarters will put India's GDP at 6.5 per cent. The Indian economy would find it challenging to achieve over 7 per cent growth for the fourth consecutive year, economists said. They pointed out that the second-quarter (Q2) Gross Domestic Product (GDP) data, which was announced on November 29, has made the task even more daunting for the government. "A sharper than expected growth slowdown in Q2 has tilted risks to our outlook of 6.8 per cent for the current fiscal downwards," said DK Joshi, chief economist, Crisil. ...Read More >
FRANKFURT (Reuters) - Import tariffs expected to be implemented by the administration of U.S. President-elect Donald Trump could lower economic growth and inflation in the 20 nations sharing the euro, European Central Bank board member Piero Cipollone said on Tuesday. Most economists agree that the possible tariffs would impact growth, though views diverge on the effect on consumer prices. Some argue the U.S. trade barriers will push up the value of the dollar, making imports of key commodities more expensive, while likely retaliation from Europe will also raise costs. Cipollone, speaking i ...Read More >
The overall development of the country is not possible without the development of agriculture and farmers. The nation's economy can be strengthened by the development of agriculture, fishery production, and livestock, President Droupadi Murmu said on Thursday. Gracing the convocation ceremony of the Odisha University of Agriculture and Technology at Bhubaneswar, she said agriculture is facing new challenges such as natural disasters, adverse effects of climate change, decreasing per capita farm ...Read More >
Bhopal, Dec 11 (VOICE) Madhya Pradesh Chief Minister Mohan Yadav will launch 'Jan Kalyan Parv' on Wednesday on the completion of one year of his government. The BJP government in the state will organise a fortnight-long programme called 'Jan Kalyan Parv' to highlight the development works undertaken in the past year. Chief Minister Yadav has directed district administration to organise camps in blocks and gram panchayats to highlight the government's achievements. "The officers will meet people and make them aware of the state government's welfare schemes and ensure that those eligible get ...Read More >
Trump warns BRICS nations against replacing US dollar Dec 2 (Reuters) - A gauge of emerging market stocks rose on Monday, driven by positive manufacturing data from China and expectations of continued policy support from Beijing, while India's rupee hit a record low because of weaker-than-expected economic data. As of 0932 GMT, the MSCI's index for emerging market stocks had risen by 0.7%, on track for its biggest percentage gain in over three weeks. China's blue-chip CSI 300 climbed 0.8%, and the Shanghai Composite index jumped 1.1% after a private survey indicated that Chinese factory act ...Read More >
New Delhi [India], December 4 (ANI): The GSEC in Hyderabad will be the first of its kind in the APAC region after Tokyo and only the fifth globally, with similar facilities in Dublin, Munich, and Malaga, according to a statement. This GSEC is a specialised international cybersecurity hub designed to play a crucial role in developing advanced security and online safety products tailored for the Indian context. The centre will focus on cutting-edge research, AI-driven security solutions, and creating a collaborative platform for leading experts and researchers in cybersecurity. It also aims to ...Read More >
New Delhi, Dec 12 (PTI) Terming the 5.4 per cent GDP growth in the second quarter as a "temporary phenomena", FICCI President Harsha Vardhan Agarwal on Thursday said the industry body expects India to achieve 6.5-7 per cent economic growth in the current financial year, while projecting a pick up in private investment. In an interview to PTI, Agarwal, who is also the Vice Chairman & Managing Director of Emami Ltd, said the RBI needs to manoeuvre a "tight-rope balancing act" between inflation and economic growth, as he opined that the central bank has been doing a prudent job. Notably, the FI ...Read More >
New Delhi: ONGC's production trend is beginning to turn after eight straight years of fall as a key new field in KG Basin ramps up and the old Mumbai High asset arrests decline. ONGC's crude production rose 3% year-on-year in November to 53,804 tonnes per day (tpd) and the output growth so far in December has accelerated to 4.2% to 54,535 tpd, according to people with knowledge of the matter. The output was marginally higher in three of the first seven months this fiscal year but there is a cle ...Read More >
Bihar's infrastructure has seen a 15-fold increase in data consumption over the past five years. Road density is now the third highest in India, electricity generation has increased tenfold, and IT parks and data centers are being developed. Numerous bridges and expanded rail lines are improving connectivity and boosting trade.Bihar has seen a 15-fold jump in data consumption in the last five years as the state goes big on developing infrastructure, investing in connectivity and building rail and ...Read More >
New Delhi, Jan 2 (PTI) Stakeholders from the electric vehicle (EV) sector will hold a meeting with Commerce and Industry Minister Piyush Goyal here on January 3 on issues, including infrastructure related to charging and battery swapping, sources said. They said that officials from the Department of Heavy Industries are expected to attend the meeting. Also Read | SOF NSO Results 2024-25 Out at sofworld.org: National Science Olympiad Exam Result Released, Get Direct Link and Know Steps To Download. Representatives from Tata, Mahindra, Mercedes-Benz India, Hero MotoCorp, and other companies h ...Read More >
Mumbai: The rupee declined 14 paise and touched the crucial 86.00-mark (provisional) for the first time against the US dollar Friday as it failed to resist pressure from a stronger American currency and huge outflow of foreign funds. Surging crude oil prices overseas and negative sentiment in domestic equity markets also weighed down the Indian currency, forex traders said. Also, dollar strengthened on increased demand amid the anticipation of restrictive trade measures by the new US administration after Donald Trump takes over as president January 20. At the interbank foreign exchange, the ...Read More >
The U.S. dollar continued its strong run on Monday, bolstered by soaring Treasury yields and expectations of limited Federal Reserve rate cuts. Meanwhile, the yen steadied ahead of a key speech by Bank of Japan Governor Kazuo Ueda, where he may hint at a possible rate hike in December, with markets pricing a 55% chance of such a move. Japanese Finance Minister Katsunobu Kato's warning on yen intervention caused a temporary pullback, while the dollar index touched a one-year high of 107.07. Analysts forecast further dollar gains as U.S. economic policies and performance outshine global peers. K ...Read More >
Euro zone government bond yields increased slightly as investors await upcoming inflation data that may influence the European Central Bank's policy direction. Concerns over potential tariff hikes from the U.S. could further impact ECB strategies. Germany's bond yields and political tensions in France also add to the economic uncertainties. On Tuesday, euro zone government bond yields saw a minor increase after hitting multi-week lows in the previous session. Investors are keenly awaiting inflation data later this week that could provide insight into the European Central Bank's potential poli ...Read More >
The Minister for Information, Communication, Technology and National Guidance, Hon. Chris Baryomunsi has unveiled government plans to extend internet connectivity to all sub-counties through a loan acquired from the Exim Bank of China. Baryomunsi said that with the US$150 million, government will go beyond its ministries, departments, agencies (MDAs) and district headquarters) to connect all sub-counties to the National Backbone Infrastructure (NBI). "This is vital for ensuring that all regions benefit from the digital economy. Last mile connectivity, the final segment connecting the NBI to ...Read More >
China and Hong Kong stock markets are experiencing a downturn due to rising concerns over the U.S.-China trade war, particularly regarding proposed tariffs and chip sales restrictions. The CSI300 and Shanghai Composite indexes fell, while Hong Kong's Hang Seng Index dropped 1.32%. Investors are wary of potential new restrictions on semiconductor and AI chip exports to China, further exacerbating market uncertainty. The automotive sector, led by BYD, also suffered from intense price competition among Chinese carmakers. Investor sentiment remains cautious, reflecting fears of escalating trade te ...Read More >
The Chinese yuan was also facing its own challenges from the growing threat of more U.S. tariffs on China, pushing it down to a 13-month trough. Japan's tech-heavy Nikkei jumped 1.6% as of 0200 GMT, and South Korea's KOSPI advanced 1.7%. Taiwanese shares gained 1.1%. Australia's stocks benchmark rose 0.7% and reached a fresh all-time high. However, Chinese stocks were under pressure, with Hong Kong's Hang Seng edging slightly lower and mainland blue chips falling 0.3%. MSCI's broadest index of Asia-Pacific shares added 0.7%. Both S&P 500 and Nasdaq futures were flat after the cash indexes ...Read More >
Still, the ongoing U.N. climate talks have thrown a spotlight on their efforts to tackle global warming. While the COP29 summit in Baku, Azerbaijan, is tasked with agreeing a goal to mobilize hundreds of billions of dollars for climate, leaders of the Group of 20 major economies half a world away in Rio are holding the purse strings. G20 countries account for 85% of the world's economy and are the largest contributors to multilateral development banks helping to steer climate finance. "The spotlight is naturally on the G20. They account for 80 percent of global emissions," U.N. Secretary Ge ...Read More >
Beijing: China has expressed its willingness to engage in dialogue with the United States following recent threats by former President Donald Trump to impose new tariffs on Chinese goods. The statement comes amid growing tensions between the two economic giants over trade practices, technology policies, and geopolitical issues. Chinese Foreign Ministry spokesperson, Wang Wenbin, said that China was open to "constructive dialogue" with the U.S., emphasizing the importance of cooperation to ensure global economic stability. "China believes that both countries should seek common ground and manag ...Read More >
TOI correspondent from Washington: In a warning shot that echoed across major world capitals and business majors on Tuesday, US President-elect Donald Trump said he will issue executive orders on day one of his presidency imposing new tariffs on all imported goods from China, Mexico and Canada, Washington's three largest trading partners, to stop the "invasion" of illegal migrants and drugs into the United States. In a post on his Truth Social platform, Trump put the onus of containing illegal border crossings squarely on two immediate neighbors on its southern and northern borders, saying "b ...Read More >
Trump's pressure on countries to remain tied to a US-dollar-based financial system could backfire, with potential increased motivation for BRICS to create alternatives. While the dollar's dominance persists due to existing economic strengths, recent global currency agreements indicate a cautious shift away from reliance on the greenback.Donald Trump's pressure on countries around the world to stay anchored to a US-dollar-based financial system is a tactic that risks backfiring, market watchers say. Dollar dominance looks set to continue for the foreseeable future and emerging nations' idea of ...Read More >
New Delhi [India], December 12 (ANI): The Union Cabinet on Thursday approved the 'One Nation, One Election,' bill in the parliament, marking a significant step towards the electoral process, sources told ANI. A comprehensive bill is expected to follow this decision, paving the way for unified elections across the nation. Earlier on Wednesday, former President of India Ram Nath Kovind stated that the Central government must build a consensus on the 'One Nation, One Election' initiative, emphasising that the issue transcends political interests and serves the nation as a whole. Speaking to th ...Read More >
Chandigarh, Jan 2 (PTI) Punjab Chief Minister Bhagwant Mann on Thursday claimed that the Centre was trying to"bring back" the now-repealed farm laws, referring to the newly announced draft of the National Policy Framework on Agricultural Marketing. The AAP-led Punjab government has termed the newly announced draft policy as an attempt to reintroduce the three central agricultural laws passed in 2020 "through backdoor." After a yearlong protest by farmers, the Centre had repealed the laws. Speaking to reporters here, Mann also stated that the demands of the protesting farmers pertain to the c ...Read More >
New Delhi, Jan 21 (PTI) India and Belgium have agreed to establish mechanisms to resolve trade issues in areas such as pharma and agri products to boost bilateral trade, according to an official statement issued on Tuesday. The issues were discussed during the meeting between Commerce and Industry Minister Piyush Goyal and Belgian Minister of Foreign Affairs and Foreign Trade Bernard Quintin, in Brussels. "Regulatory barriers, particularly in the approval processes for pharmaceuticals and agri-products, were also discussed, with both sides agreeing to tackle these challenges through continuo ...Read More >
Stock market today: The Indian stock market clocked healthy gains for the third consecutive session on Tuesday, December 3, led by gains in shares of select heavyweights, including Reliance Industries, HDFC Bank and Larsen and Toubro. Benchmark index Nifty 50 jumped 0.70 per cent to the level of 24,445.80, breaking above its 50 and 100-day exponential moving averages (DEMA). According to Trendlyne, an equity research platform, Nifty 50 is above its 100-day EMA of 24,306 and 50-day EMA of 24,364. However, the index is yet to breach its 50-day and 100-day simple moving averages (SMAs) of 24,643 ...Read More >