Responding to a question at IMF headquarters, Finance Minister Nirmala Sitharaman said a totalisation agreement with the US has always been on the cards.
During a joint session at India Economic Summit, both ministers had a stern exchange of words over some of the Indian polices and regulatory mechanisms.
The ‘limited’ trade package was given final shape when Commerce Minister Piyush Goyal met US Trade Representative Robert Lighthizer in New York Monday.
Trade continues to remain a difficult spot in US-India ties, especially amid Trump’s campaign to bridge the US’ trade deficit with countries around the world.
PM Modi told President Trump that $4 billion worth of imports were already "in the pipeline" as India and US seek to overcome their differences on tariffs and market access.
As US tries to counterbalance China's power in the region through India, it is also at a crossroads with the new Modi govt and needs to iron out several foreign policy challenges for smooth ties.
Nobody is safe in a market where competition is stunted and choice limited. For the industry, meaningful reform will have to start with the government itself.
Data shows re-alignment in India’s exports, with Tamil Nadu & Telangana posting strong growth in 2024-25 as traditional heavyweights Gujarat & Maharashtra see declines. Gujarat still leads, though.
Of the total package, $649 million will be utilised for additional hardware, software, and support services, and the remaining for Major Defence Equipment (MDE).
Don’t blame misfortune. This is colossal incompetence and insensitivity. So bad, heads would have rolled even in the old PSU-era Indian Airlines and Air India.
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