The proposed India–US trade deal failed to materialise because Prime Minister Narendra Modi did not personally call US President Donald Trump, according to claims made by US Commerce Secretary Howard Lutnick. Speaking on a podcast, Lutnick said the final step required to close the agreement was direct communication between the two leaders, which did not happen, leading to the collapse of the negotiations. Lutnick stated that the framework of the deal had been completed and was rea

plunging close to one percent amid rising global uncertainty and mounting trade-related concerns. The S&P BSE Sensex fell by more than 700 points during afternoon trade to hover around the 84,300 mark, while the NSE Nifty50 slipped over 225 points to trade near 25,915. Weak sentiment spread across sectors, dragging frontline stocks as well as the broader market lower, reflecting heightened investor caution. Market participants attributed the decline to a combination of weak glob

Prime Minister Narendra Modi sent a strong message of economic self-reliance while inaugurating the Uttar Pradesh International Trade Show in Greater Noida. Against the backdrop of a tariff war with the United States, Modi said that “India is not ready to be dependent on anyone.” He urged traders and manufacturers to embrace the vision of Atmanirbhar Bharat by focusing on local production and promoting swadeshi goods.

Prime Minister Narendra Modi received birthday wishes from US President Donald Trump ahead of his 75th birthday, even as India and the United States grapple with trade tensions. In a message on X, Modi thanked Trump for his greetings and reiterated his commitment to strengthening the India-US Comprehensive and Global Partnership. He also expressed support for Washington’s initiatives to resolve the Ukraine conflict through peaceful means.

The United States has renewed its push for a tougher global stance against Russia’s energy exports, urging its Group of Seven partners to impose coordinated tariffs on countries that continue purchasing Russian oil. During a virtual call with G7 finance ministers, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer emphasized that only a unified approach targeting energy revenues could weaken Moscow’s ability to finance its war

With the rationalisation of the Goods and Services Tax (GST) completed, the Indian government is preparing a targeted relief package for exporters impacted by steep US tariffs. According to official sources, the Centre is working on a set of schemes designed to help sectors that have been hit hardest by the 50 per cent import duties imposed by President Donald Trump, which included a 25 per cent penalty linked to India’s Russian oil purchases.

Russia is offering India bigger oil discounts, with the price of its Ural grade oil dropping to a discount of $3 to $4 per barrel, as reported by Bloomberg. The price reduction applies to cargoes expected to load in late September and October, reflecting Moscow’s efforts to maintain its oil trade with India amid rising tensions with the US. India has become a significant importer of Russian crude oil, especiall

Prime Minister Narendra Modi has emphasized the importance of India and China coming together to bring stability to the global economic order, particularly in the face of the volatility created by US President Donald Trump’s tariff measures. In an interview with the Japanese daily Yomiuri Shimbun, PM Modi pointed out that as the two largest economies in Asia, India and China must work in harmony to ensure both regional peace and global economic stabilit

Following the narrative established during the Trump administration, South Carolina Senator Lindsey Graham has drawn a connection between US tariffs, the ongoing Russia-Ukraine conflict, and India’s role in the global energy market. On Wednesday, Graham responded sharply to reports of a deadly Russian strike in Kyiv that killed at least 23 people. His message on X directly addressed India, China, and Brazil for their continued purchase of Russian crude.

In a dramatic policy turn, US President Donald Trump announced that 600,000 Chinese students will be allowed to study in American universities, describing the move as vital to Washington’s relationship with Beijing. Speaking from the Oval Office, Trump said, “We’re going to allow their students to come in. It’s very important, 600,000 students. But we’re going to get along with China.”

In a significant development, Russian President Vladimir Putin spoke to Indian Prime Minister Narendra Modi following his meeting with U.S. President Donald Trump in Alaska. The phone call focused on the ongoing Ukraine war and potential paths to a peaceful resolution. Prime Minister Modi reaffirmed India’s consistent stance of advocating for peace, emphasizing India’s support for efforts aimed at resolving the Ukraine conflict. The leaders also d

India and the United States are close to concluding a mini trade deal that is expected to provide temporary relief from some of the additional tariffs imposed on Indian exports and open limited access for American agricultural and dairy products. According to sources familiar with the negotiations, the deal, though not final yet, is likely to be announced soon, with both governments aiming to conclude talks before the August 1 deadline set by the US administration. This agreement will serve a

Japan's economy contracted in the first quarter of 2025 for the first time in a year, and the decline was sharper than expected. This latest data highlights the fragile nature of the country's recovery, now under added pressure from anticipated US trade actions that threaten to weigh further on exports and consumer sentiment. According to newly released government statistics, Japan’s real gross domestic product (GDP) shrank at an annualized rate of 0.7% from January