NATO chief warns India, China & Brazil could be hit ‘very hard’ by sanctions if they continue to do business with Russia

NATO Secretary General Mark Rutte on Tuesday cautioned that secondary sanctions on Russia could significantly affect major economies such as India, China, and Brazil. His remarks, quoted by Reuters, underscore concerns about the global fallout from escalating measures aimed at curbing Russia’s economic ties amid the ongoing war in Ukraine.

Farmers’ organizations are requesting the government to exclude agriculture from the India-US trade agreement. They fear that allowing subsidized US agricultural products would harm Indian farmers. The organizations are concerned about the import of genetically modified crops. Bharatiya Kisan Union also voiced similar concerns. They believe it will impact self-reliant India.

India is adopting a wait-and-see approach regarding the impact of upcoming US tariffs. The government will assess the full effect of these duties, scheduled for August 1, before formulating a response. Negotiations for a bilateral trade agreement with the US are ongoing, with the fifth round of talks currently underway in Washington.

Indian dry fruit importers are delaying customs clearance for US nuts. They anticipate a significant reduction in import duties due to a potential India-US trade agreement. This hesitation could worsen existing supply disruptions caused by halted Afghan imports. The industry expects India to halve duties on walnuts and almonds.

India and the US are actively negotiating a trade agreement. Talks are progressing rapidly with mutual cooperation. Indian negotiators are in Washington for discussions. The goal is a win-win agreement for both nations. India aims to finalize the first phase by fall. Discussions with the EU are also underway. These FTAs are key to promoting […]

India’s trade deficits with several FTA partners, including Asean, Japan, and South Korea, have widened since the agreements came into force. While new trade deals with the UAE and Australia show mixed results, older pacts reveal concerning trends.

External affairs minister S Jaishankar on Monday met Chinese foreign minister Wang Yi in Beijing and flagged India’s concerns over trade restrictions and lack of progress in economic cooperation. The meeting came amid China’s curbs on rare earth magnet supplies to India.

Union Minister Sarbananda Sonowal envisions the BIMSTEC Maritime Transport Pact as a blueprint to transform the Bay of Bengal into a global trade and tourism hub. He inaugurated the second edition of the BIMSTEC Ports Conclave in Vishakhapatnam, emphasizing the importance of the Kaladan Multi-Modal Transit Transport Project. A BIMSTEC Sustainable Maritime Transport Centre will […]

Experts caution India against rushing into a trade deal with the US, potentially compromising crucial sectors like agriculture. The US’s aggressive tactics, including imposing tariffs on key partners like the EU, highlight the risk of unbalanced agreements. Despite US pressure, many nations resist one-sided terms, urging India to proceed cautiously and protect its core interests […]

India’s crude oil imports from Russia surged to a near-annual high in June, reaching 2.08 million bpd, driven by West Asia tensions and discounted prices. While overall imports decreased, Russian volumes increased, with three refineries processing over half for G7+ exports. Despite diversification efforts, Russia remains India’s top supplier, accounting for 40% of total crude […]