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New Delhi: India and the US are closing in on a long-pending trade deal that could slash the current tariffs for Indian exports to 15-16% from a punishing 50%, according to three people aware of the matter. With energy and agriculture emerging as key cards at the negotiating table, India may agree to gradually reduce its imports of Russian oil, the people cited above said on condition of anonymity. The purchases had prompted a punitive levy of 25% on Indian exports, which is over and above the ...Read More >
OTTAWA -- India's new envoy to Canada says Ottawa should pivot away from pursuing a scaled-down trade deal and instead reach for a comprehensive trade and investment agreement with the world's most populous country. In a wide-ranging interview with The Canadian Press, Indian High Commissioner Dinesh Patnaik also said Canadian businesses should expand trade and investment ties with India now, without waiting for governments to sign a formal trade agreement. "We are more interested in a comprehe ...Read More >
'Commerce and industry minister Piyush Goyal Saturday said talks between India and the US on the proposed bilateral trade agreement (BTA) are progressing in a "cordial atmosphere " and New Delhi will protect the interests of domestic farmers, fishermen and MSME sectors. 'Commerce and industry minister Piyush Goyal Saturday said talks between India and the US on the proposed bilateral trade agreement (BTA) are progressing in a "cordial atmosphere " and New Delhi will protect the interests of dom ...Read More >
China has filed a complaint against India in the World Trade Organisation (WTO) over New Delhi's subsidies for electric vehicles (EVs) and batteries. The Chinese Commerce Ministry has alleged that the measures by India violate several WTO obligations, including the principle of national treatment, and constitute import substitution subsidies, which are explicitly prohibited under the multi-lateral trade rules. These measures unfairly benefit India's domestic industries and undermine China's le ...Read More >
LONDON, Oct 20 (Reuters) - Donald Trump is putting more pressure on India to slash its Russian oil purchases. This could deprive Moscow of vital revenue, but it will mostly just push more Russian oil into an increasingly large shadow market. The U.S. president said on Wednesday that Indian Prime Minister Narendra Modi has pledged to stop buying oil from Russia, an agreement India has yet to confirm. India has become a major trade buyer of Russian oil since Moscow's invasion of Ukraine in 2022. ...Read More >
India is preparing to unveil comprehensive regulations for deepfake technologies, utilizing state-of-the-art tools for effective governance. Simultaneously, the nation is boosting its AI frontier by promoting locally created chipsets and attracting substantial funding from tech behemoths like Google, as it seeks to strike a balance between technological progress and the protection of society. The government is going to bring a regulation on deepfakes soon that will take help of technology for e ...Read More >
Bengaluru - Global companies have flagged more than US$35 billion (S$45 billion) in costs from US tariffs heading into third-quarter earnings, but many are lowering their initial forecasts as new trade deals reduce exposure to President Donald Trump's levies. Mr Trump's trade war has hiked US tariffs to their highest levels since the 1930s, and the president has regularly threatened more duties, but overall, the fog that paralysed many businesses is clearing, allowing executives to forecast cos ...Read More >
Passenger car exports grew 20.5 per cent to 1,25,513 units in the second quarter as against 1,04,196 units in the September quarter of last fiscal. Automobile exports from India rose 26 per cent year-on-year in September quarter driven by highest-ever shipments of passenger vehicles, two-wheelers and three-wheelers during the period, as per the latest data released by industry body SIAM. Passenger vehicle exports grew 23 per cent to 2,41,554 units in September quarter as against 1,96,196 units ...Read More >
ABOARD AIR FORCE ONE (Reuters) -U.S. President Donald Trump reiterated on Sunday that Indian Prime Minister Narendra Modi told him India will stop buying Russian oil, while warning that New Delhi would continue paying "massive" tariffs if it did not do so. "I spoke with Prime Minister Modi of India, and he said he's not going to be doing the Russian oil thing," Trump told reporters aboard Air Force One. Asked about India's assertion that it was not aware of any conversation between Modi and Tr ...Read More >
By Jarrett Renshaw and Nidhi Verma WASHINGTON/NEW DELHI (Reuters) -India has halved its purchases of Russian oil, a White House official said, but Indian sources said no immediate reduction had been seen, as President Donald Trump's administration presses New Delhi and other nations to buy less Russian crude. Russian oil is a main irritant for Trump in prolonged trade talks with India - half of his 50% tariffs on Indian goods are in retaliation for those purchases. His administration says Mosc ...Read More >
The Karnataka government is facing embarrassment after netizens raised questions over the credibility of certificates claiming 'world records' for the highest number of women availing free travel tickets under the Shakti scheme and the Karnataka State Road Transport Corporation (KSRTC) as the most award-winning road transport corporation. On October 16, Karnataka CM Siddaramaiah posted on X: "Karnataka enters the global stage with two historic world records - certified by the London Book of Wor ...Read More >
New Delhi, Oct 18 (PTI) Commerce and Industry Minister Piyush Goyal will visit Brussels later this month to give an impetus to the ongoing negotiations for a free trade agreement between India and the EU, an official said on Saturday. The minister will be in Europe to participate in the Berlin Global Dialogue, that will be held from October 23 to October 25, the official said. After that, trade talks with the EU will be held in Brussels. He will meet EU Trade Commissioner Maros Sefcovic. Goya ...Read More >
Egypt has taken a bold step in addressing the complexities of global terrorism by highlighting the Muslim Brotherhood's implications. The country is dedicating resources to deradicalization initiatives focused on youth engagement and Imams' training. Furthermore, Egypt is advocating for a multinational stabilization force in Gaza through a UN resolution. Egypt had warned the international community long ago about the challenges from the Muslim Brotherhood (MB) which is a fountainhead of terrori ...Read More >
Two of the emerging-market giants hardest hit by President Donald Trump's trade wars are deepening their ties in response, betting that a united front will help them endure the US broadsides and find new markets to skirt tariffs. Most Read from Bloomberg Government officials and business executives from Brazil and India are converging this week in New Delhi, seeking to forge new relationships and triple the countries' $12 billion trade partnership as economists warn that Trump's policies could ...Read More >
Bengaluru, Oct 17 (PTI) The Siddaramaiah-led Karnataka government seems to have fallen for a fake certificate issued by a so-called "London Book of World Records" appreciating its Shakti guarantee scheme, prompting ridicule from opposition BJP and the JD(S). After the expose by the BJP, the CM's Office (CMO) is now looking into the matter. Three days ago, Chief Minister Siddaramaiah had said that his government's 'Shakti' scheme, facilitating free bus rides for all women domiciled in the state ...Read More >
New Delhi: India's crude oil imports from Russia strengthened in the first half of October, reversing a three-month slide in arrivals seen during July-September as refineries were back on full stream to meet festive demand, according to ship tracking data. Imports from Russia slid from over 2 million barrels per day in June to 1.6 million bpd in September. However, tanker-tracking data for early October suggest a rebound: shipments of Urals and other Russian grades to India have picked up pace ...Read More >
New Delhi: India and Brazil on Thursday agreed to deepen their economic engagement by expanding the scope of their Preferential Trade Agreement (PTA) under the Mercosur framework. As a part of this effort, the two countries have set a new bilateral trade target of $20 billion by 2030, up from $12 billion in 2024. At the India-Brazil Business Dialogue in New Delhi, Brazil's Vice President and Minister for Development, Industry, Trade & Services, Geraldo Alckmin, said the two nations were "comple ...Read More >
Mumbai: The rupee appreciated 21 paise to 87.75 against the US dollar in early trade on Friday, supported by a softer American currency against major currencies and likely intervention by the Reserve Bank of India.Forex traders said renewed foreign fund inflows and lower crude oil prices boosted investor sentiment further. At the interbank foreign exchange market, the rupee opened at 87.91 and then gained ground and touched an early high of 87.75 against the US dollar, registering a gain of 21 ...Read More >
NEW YORK (Reuters) -Oil prices were stable on Thursday as traders prepared for a potential halt to India's Russian oil imports, which could reshape flows and boost demand for supplies from elsewhere. Brent crude futures were down 28 cents, or 0.45%, to $61.63 a barrel at 12:40 p.m. EDT (1640 GMT). U.S. West Texas Intermediate futures were down 19 cents, or 0.33%, to $58.08. U.S. President Donald Trump said Prime Minister Narendra Modi had pledged on Wednesday that India would stop buying from ...Read More >
Illustration: Donald Trump and Narendra Modi amid US-India-Russia oil tensions over Ukraine President Donald Trump announced on 15 October that Indian Prime Minister Narendra Modi had committed to halting oil purchases from Russia, a step Trump said would make it easier to pressure Moscow to end Russia's war against Ukraine, now in its fourth year. India has been one of Russia's key economic partners since Western sanctions targeted Russian energy exports following the February 2022 invasion. ...Read More >
He added: "Indian companies source energy supplies from around the world while taking overall market conditions into account. We would stress that there should be no double standards, especially when it comes to energy trade." Nayara Energy has come under the lens of Western governments given that 49.13 percent of the Indian company is owned by Russia's petroleum giant Rosneft. Nayara, formerly Essar Oil Ltd, operates a refinery at Vadinar in Gujarat, which was hit with sanctions by the Europea ...Read More >
New Delhi: A team of senior officials from India will visit the US this week for trade talks, and negotiations on the proposed bilateral trade agreement are progressing well, a top official said Monday. In February this year, leaders of the two countries directed officials to negotiate a proposed Bilateral Trade Agreement (BTA). It was planned to conclude the first tranche of the pact by the fall (October-November) of 2025. So far, five rounds of negotiations have been completed. "The Indian ...Read More >
NEW DELHI (Reuters) -Western powers have ramped up pressure on Russia's oil sales amid its war with Ukraine as U.S. President Donald Trump said India would stop buying and Britain imposed sanctions on top Russian oil firms. Ukrainian President Volodymyr Zelenskiy is schedule to meet Trump in Washington on Friday to push for military and energy support at a time when Kyiv and Moscow are escalating the war with attacks on energy infrastructure. Indian officials are also in Washington for trade t ...Read More >
NEW DELHI: India on Thursday firmly rejected the United Kingdom's latest sanctions targeting Russia's oil sector and Indian firms, reiterating that it does not recognise unilateral sanctions, warning against "double standards" in energy trade."We have noted the latest sanctions announced by the UK... We do not subscribe to any unilateral sanctions. The Government of India considers the provision of energy security a responsibility of paramount importance to meet the basic needs of its citizens," ...Read More >
EAAA Alternatives, formerly known as Edelweiss Alternatives, has raised a $60 million commitment from the European Investment Bank (EIB) for its India Energy Transition Fund, which targets a corpus of USD 300 million. The fund will be used for investing in renewable energy, energy storage, electric mobility, and other green infrastructure assets. "The fund has a target size of $300 million and will channel equity and quasi-equity into greenfield infrastructure projects and growth-stage compani ...Read More >
New Delhi, Oct 16 (SocialNews.XYZ) US President Donald Trump, after an unsuccessful attempt at a ceasefire in Ukraine, is intending wider economic squeeze on Moscow through potential halt in global energy imports from Russia. In this endeavour, he has chosen to focus on his "good friend" Prime Minister Narendra Modi of India. Since imposing a large sum of "reciprocal" trade tariff, Trump has been critical of New Delhi for continuing to buy Russian oil. Two other factors also weigh upon Washin ...Read More >
New Delhi, Oct 16 (PTI) India has implemented a number of free trade agreements with developed nations and is in active dialogue for such pacts with nations including the US, Oman, and the EU, Commerce and Industry Minister Piyush Goyal said. India has implemented trade pacts with Australia, the UAE and EFTA bloc. It has also signed an agreement with the UK. "We have done free trade agreements (FTAs) with many developed countries in the last three years...We are in active dialogue with the US, ...Read More >
New Delhi: India and the European Union (EU) have conducted their first counter-terrorism exercise aimed at protecting critical infrastructure and soft targets from emerging threats from unmanned aerial systems (UASs) and for drawing up procedures for integrated counter-drone operations. The three-day training programme, which concluded on Wednesday, brought together senior officers, instructors and technical experts from India's National Security Guard (NSG) and the EU's High Risk Security Net ...Read More >
India's merchandise exports in September rose 6.75 per cent to $36.38 billion compared to the same month of the previous year, despite the punitive tariffs imposed by the US, according to data released by the Commerce Ministry on Wednesday. New Delhi, India's merchandise exports in September rose 6.75 per cent to $36.38 billion compared to the same month of the previous year, despite the punitive tariffs imposed by the US, according to data released by the Commerce Ministry on Wednesday. The e ...Read More >
New Delhi: The European Investment Bank (EIB) is stepping up its presence in India's green transition, using its capital and expertise to plug financing gaps in clean energy, sustainable transport and water infrastructure, top official at the multilateral financial agency told Mint on Thursday. The broad aim is to make lives better, more sustainable and inclusive. By investing in the country's green funds and projects from metro systems to battery storage, the EU's lending arm aims to accelerat ...Read More >
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